Business

Mumbai, Mar 18 (PTI) Equity benchmark Sensex plunged over 1,709 points on Wednesday as talks of stimulus measures to cushion the economic blow of the Covid-19 pandemic failed to cheer markets across the globe.

The BSE barometer swung over 2,488.72 points in a highly volatile session, before ending 1,709.58 points or 5.59 per cent lower at 28,869.51.

WASHINGTON, March 18 (NNN-AGENCIES) — The International Monetary Fund on Tuesday rejected economically devastated Venezuela’s request for a $5 billion loan to help it cope with the onslaught of coronavirus on the country.

MANILA, Mar 18 (NNN-PNA) – The World Bank earmarked a 100-million-U.S. dollar fast-track loan, to help the Philippines fight COVID-19, the Philippine Department of Finance said.

The fiance department said today, the funds will enable the Department of Health (DoH) to procure personal protective equipment for health care workers, along with testing and laboratory materials, quarantine areas, isolation rooms and other essential equipment, to contain the spread of the viral disease.

Lucknow, Mar 17 (PTI) A factory manufacturing fake hand sanitisers was busted by district administration officials here on Tuesday, officials said.

Acting on a tip-off, a team of Lucknow administration and drug administration department conducted a raid at Mahalakshmi Chemicals in Nishatganj locality and recovered 10,000 bottles, 100 ml each, of fake sanitisers, said a senior official.

Mumbai, Mar 16 (PTI) The Indian rupee continued its downward spiral and plunged 50 paise to 74.25 (provisional) against the US dollar on Monday as concern over the economic fallout from the coronavirus pandemic outweighed the US Fed's emergency interest rate cut and the RBI's liquidity enhancing measures.

Forex traders said the fall in the domestic unit was in line with other Asian peers amid mounting fears of a coronavirus-led economic slowdown.

Berlin, Mar 16 (AFP/PTI) The German government has promised to defend itself against alleged attempts by US president Donald Trump to buy exclusive rights to a German company's research into a vaccine against the coronavirus.

"Germany is not for sale," economy minister Peter Altmaier told broadcaster ARD, reacting to a front page report in Welt am Sonntag newspaper headlined "Trump vs Berlin".

Mumbai, Mar 17 (PTI) Gulf airline flydubai has temporarily suspended its services to India for a month due to travel and visa restrictions in the wake of coronavirus (Covid-19) outbreak.

The pandemic is adversely impacting the airline industry world over with carriers cancelling or cutting down services across their international network.

Bengaluru, Mar 17 (PTI) The first Light Combat Aircraft Tejas in Final Operational Clearance-standard (SP-21) took to the skies for its maiden flight here on Tuesday, the Hindustan Aeronautics Limited said.

Piloted by Air Cmde. K A Muthana (Retd), Chief Test Flying (Fixed Wing), the aircraft took-off from HAL Airport at around 1230 hours, the Bengaluru-headquartered defence PSU said in a statement.

KUALA LUMPUR, March 17 (NNN-BERNAMA) — The Asia-Pacific Economic Cooperation (APEC) Second Senior Officials’ Meeting (SOM2) and related meetings, which were scheduled to be held in April, have been postponed.

In a statement today, the Ministry of International Trade and Industry (MITI) said the postponement includes the 2020 APEC Tourism Ministerial Meeting and the 2020 APEC Ministers Responsible for Trade (MRT) Meeting.

It said that tentatively, the SOM2 and related meetings will be held June 15-26 followed by the MRT Meeting from June 27 to 28.

NEW YORK, March 17 (NNN-AGENCIES) — US airports have been thrown into chaos as new coronavirus health screening measures for people returning from Europe come into force.

Long queues formed as travellers waited for hours for the screenings before passing through customs.

The US is banning the entry of people travelling from the UK and Ireland from midnight on Monday (04:00 GMT Tuesday).

As a result, the UK Foreign Office is now advising against all but essential travel to the whole of the US.