Business

New Delhi, Mar 21 (PTI) Congress leader Rahul Gandhi called for immediate steps to revive the country's economy on Saturday and said there was a need for a big financial package.

He pointed out that the coronavirus outbreak was a serious attack on our fragile economy and took potshots at Prime Minister Narendra Modi's call for beating of "thalis" in the honour of those working to contain the spread of the virus.

Paris, Mar 20 (AFP/PTI) A wave of company defaults is likely to sweep the United States and Europe as measures to contain the coronavirus spark a recession, S&P Global Ratings said Friday.

The agency said it believes the global economy will go into reverse under the impact of the coronavirus crisis and that companies will see cash flow whither and financing conditions tighten.

WASHINGTON (Reuters) - The Trump administration on Friday said it was soliciting public comments on lifting additional tariffs on Chinese imports that could help the United States battle the coronavirus pandemic, showing some flexibility in its trade war against Beijing.

The U.S. Trade Representative’s (USTR) office said it would allow members of the public, businesses and government agencies “to submit comments if they believe further modifications to the (Section) 301 tariffs may be necessary”

New Delhi, Mar 20 (PTI) GoAir on Friday announced that it is voluntarily suspending all flights on March 22 when 'Janta curfew' will be in force.

The move came after Prime Minister Narendra Modi on Thursday called for a 'Janta curfew' from 7 am to 9 am on Sunday amid coronavirus pandemic.

RIYADH, Mar 21 (NNN-SPA) – Saudi Arabia predicted that the deficit of the 2020 state budget will range between seven and nine percent, amid the COVID-19 outbreak.

At a press conference, Saudi Finance Minister, Mohammed al-Jadaan, stressed the country’s financial and economic capability, to deal with the virus crisis with flexibility, by means of reducing expenditures or borrowing, according to the report.

20 Mar 2020; MEMO: Qatar has removed exit visa requirements for an additional segment of its foreign labour force, including some of those working in the oil and gas industry, according to official tweets posted on Friday, Reuters reports.

Qatar in 2018 eliminated exit visas for many foreign migrant workers. But the reform did not apply to domestic workers, government and public institution staff, the oil and gas sector, and workers employed at sea and in agriculture.

Islamabad, Mar 20 (PTI) The World Bank and the Asian Development Bank have committed to providing USD 588 million to Pakistan for its emergency response to fight the coronavirus and to address the socioeconomic impact of the pandemic, a media report said on Friday.

According to an official statement, the World Bank would provide USD 238 million and the Asian Develo pment Bank (ADB) USD 350 million to Pakistan in support for the COVID-19 emergency response and to tackle the socio-economic disruption associated with it.

New Delhi, Mar 20 (PTI) Defence Minister Rajnath Singh said on Friday that the global economic situation would affect all nations, but ruled out any impact on India's defence procurement.

Speaking at the launch of the draft Defence Procurement Procedure, 2020, Singh said the global economy could improve in the next two-five months.

MOSCOW, March 20 (NNN-TASS) — Russia’s sanitary watchdog Rospotrebnadzor has launched tests of a vaccine against the novel coronavirus, reported Russian news agency TASS.

“In Russia in order to prevent and control the COVID-19 epidemic the State Research Center of Virology and Biotechnology Vector of Rospotrebnadzor has swiftly developed prototypes of vaccines based on six various technological platforms,” the watchdog said.

Experts have managed to create vaccines based on broadly used recombinant viral vectors of flu.

SYDNEY, March 20 (NNN-XINHUA) — Australian Prime Minister Scott Morrison on Thursday announced a travel ban on all non-residents coming into the country beginning from Friday night.

Anyone who is not a citizen, resident, or close family member of an Australian citizen or resident will be denied entry into the country, Xinhua reported him saying.