Business

Ahmedabad, Apr 2 (PTI) The Gujarat government on Thursday warned the factory owners and other employers in the state that they will have to face a jail term of one year if they lay off any of their workers or staffers during the lockdown period, officials said.

A notification to this effect was issued on Thursday to safeguard 18 lakh factory workers, 25 lakh workers of registered contractors and over 12 lakh persons working in shops and other commercial establishments, Secretary in the Chief Minister's Office (CMO), Ashwani Kumar, said.

LONDON, April 3 (NNN-AGENCIES) — The British Government is warning of delays to the EU settlement scheme because of the coronavirus outbreak.

More than 3 million people have already been granted the right to live and work in the UK after June 2021, but an estimated 600,000 have not yet registered.

In a blog posted on its website, the Home Office says new applications will “take longer than usual” to process during what it describes as a “challenging time”.

02 April 2020; MEMO: Israel’s shattered economy is showing further signs of slowing down with unemployment rate hitting 25 per cent due to the coronavirus outbreak. The new figure marks a near eight per cent increase in under a week, taking the number of jobless Israelis to over a million for the first time in the country’s history.

Washington, Apr 2 (PTI) US President Donald Trump has proposed a massive USD 2 trillion infrastructure plan, along with several other measures like corporate deductibility for restaurants and entertainment facilities to stimulate the American economy ravaged by the coronavirus pandemic.

Trump's proposal comes days after he passed a USD 2.2 trillion stimulus package that gives USD 3,200 on an average to an American family of four and massive financial assistance to small and medium enterprises, big corporations and the country's travel and tourism industry.

United Nations, Apr 2 (PTI) The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses.

KUALA LUMPUR, April 2 (NNN-BERNAMA) —  A special cabinet committee has been established to develop strategic measures to safeguard Malaysia’s economy and labour market impacted by COVID-19 with the aim of striking a balance between the nation’s economic priorities and the effective enforcement of the Movement Control Order (MCO).

KANPUR: Though the vegetables' prices have been fixed, the vendors are making hay of the scary situation. 

As the residents are fearing to go out in pursuance of the lockdown norm, one or two or three sabziwallahs are entering into the premises of the building in Jajmau on Thursday. So, they easily buy vegetables just within their premises.

VIENNA, Apr 2 (NNN-XINHUA) – The COVID-19 pandemic caused unemployment in Austria to hit a historic high since 1946, according to a leading provider of labour-market related services in the country.

GENEVA, April 1 (NNN-AGENCIES) — A UN human rights expert called for lifting international sanctions against countries ranging from Iran to North Korea and Venezuela to ensure that food supplies reach hungry populations during the coronavirus pandemic.

Iran, under sweeping US sanctions for its nuclear and missile programmes, is among the hardest-hit by the new pathogen. Venezuela has notified 113 cases to the World Health Organization (WHO), while isolated North Korea, which borders on China and South Korea, has yet to report any.

01 April 2020; MEMO: Developer Emaar Properties said on Tuesday it had suspended construction of a residential tower in a prime Dubai location near the world’s tallest building, showing how the coronavirus is deepening the emirate’s real estate downturn.

Dubai, a regional tourism, trade, and business hub, has faced a real estate slowdown for most of the past decade as the global financial crisis and weak oil prices burst a price bubble and left the market oversupplied with homes and offices.