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01.06.2020 / 10:33

India 1 of 3 in G20 likely to grow in 2020, 500m may slip into poverty: Survey

MUMBAI: India is one of the only three economies in G20 that is expected to grow in 2020 even as 500 million people are at a risk of slipping into poverty due to the lockdown induced by the covid-19 pandemic, says a 30 May global survey jointly conducted by Marsh & McLennan Companies (MMC) and Zurich Insurance Group (Zurich) in collaboration with the World Economic Forum.

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When will Indian states face a health worker crunch?

Maharashtra recently sought doctors from Kerala. Some other hotspot states in the covid-19 battle could also be in dire need of doctors and nurses soon.

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BMC prepares in full-swing as IMD predicts heavy rainfall in Mumbai

MUMBAI: Mumbai's civic body, Brihanmumbai Municipal Corporation, is pulling out all the stops to brace for the arrival of monsoon over the city as the India Meteorological Department (IMD) predicted heavy rain on 3-4 June.

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Mumbai lockdown 5.0: Malls, restaurants, hotels to remain shut — what's allowed, what's not

Citing the steady rise in coronavirus cases in the state, the Maharashtra government on Sunday extended the lockdown till June 30. However, the state allowed several relaxations in the fifth phase of the lockdown to restart economic activities. The state government issued guidelines under 'Mission Begin Again' for staggered exit from the lockdown in three phases.

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PMI data shows some improvement in manufacturing but lockdown continues to hurt

MUMBAI: India’s manufacturing activity continued to contract in May, though at a slower pace than registered in April, indicating the deep impact of the lockdown despite the easing of some curbs last month. The manufacturing Purchasing Manager’s Index (PMI), released by IHS Markit, was at 30.8 in May, slightly better than 27.4 recorded in April.

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Covid-19 spawns illegal trade of PPE and antiviral drugs

Mumbai: The covid-19 pandemic has spawned a global illegal trade of essential goods like PPE kits and antiviral drugs on the dark web, according to a new research by Sophos. Researchers noted trade of goods worth up to $1,000,000 per week on the dark web.

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India's cautious states open up even as virus cases rise

NEW DELHI – More states opened up and crowds of commuters trickled onto the roads in many of India's cities on Monday as a three-phase plan to lift the nationwide coronavirus lockdown started despite an upward trend in new infections.

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₹2 a litre in Mumbai today

NEW DELHI : As the gradual opening up of the economy begins today with 'Unlock 1', the Maharashtra government has hiked cess on fuel by ₹2 a litre. As a result, the price of petrol and diesel has gone up by ₹2 a litre each in Mumbai and other parts of the state with effect from today.

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Unlock 1.0: Opening your restaurant? Ask the healthcare experts

Restaurants across the country are taking the help of healthcare firms to ensure safe practices in a covid-19 world

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Senior ICMR scientist tests positive for coronavirus, met DG last week

The scientist, who is from Mumbai, had come to Delhi few days ago and tested positive for the virus on Sunday morning.

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IDBI Bank jumps 20% on robust March quarter performance

MUMBAI: Shares of IDBI Bank surged nearly 20% on Monday as the lender reported a profit for January-March after a gap of 13 quarters.

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Bollywood music composer Wajid Khan dies at 42

NEW DELHI: Singer-composer Wajid Khan, of Bollywood music director duo Sajid-Wajid, died in Mumbai on Monday morning due to kidney complications. He was 42. The duo is known for their music in Salman Khan blockbusters such as Wanted and Dabangg.

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India Inc 2020 IT spend will fall but cost optimisation solutions can win deals

MUMBAI: The coronavirus crisis is expected to slow down spending on IT across sectors substantially, but the service providers will have the scope to build on projects that help clients optimise costs better using technology, said analysts.

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Covid-19 ends retail loan boom for India’s banks

MUMBAI: Indian banks saw more repayments than they lent in April this year. While in normal times, the first month of a new financial year does see repayments exceed loan offtake, it has rarely happened to retail loan book.

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Is pandemic-hit Mumbai ready for a cyclonic storm and the monsoon?

A cyclonic storm on 3 June, and the monsoon a week after, is going to severely test Mumbai as it reels from covid-19

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Indian Railways starts 200 special trains from today. Charting, boarding rules you must know

Indian Railways has started running a pair of 100 trains from Monday, after a gap of over two months due to coronavirus lockdown across India. Mahanagari Express, the first train among 200 special trains to start today, departed from Mumbai's Chhatrapati Shivaji Maharaj Terminus for Varanasi in Uttar Pradesh. States such as Maharashtra have had their reservations regarding the opening of passenger trains, but last minute arrangements were made to run the special trains from their respective source stations.

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How Mumbai decided to get serious about its public health gaps

MUMBAI : In the middle of May, India’s worst virus-hit city Mumbai woke up to an unpleasant realisation: The monsoon was coming. While distress and disease have always followed the torrential deluge, there was an added problem this year. The city’s fragile and patchy health system had already been swamped by covid by mid-April.

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Maharashtra covid-19 cases at 67,655, Mumbai crosses 39000

MUMBAI : With 2,487 new cases, Maharashtra’s covid-19 tally reached 67,655 confirmed cases on Sunday. Of these, 29,329 had fully recovered, while 2,286 died due to the severe acute respiratory syndrome coronavirus 2.

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Power surge for electric vehicle ecosystem

Avisible effect of the lockdowns was clean air in cities as vehicles went off roads. The Himalayan range became visible from Punjab for the first time in 30 years. Satellite images showed the steep drop in nitrogen oxides from vehicular emissions in Delhi and Mumbai. As lockdowns ease and roads fill up again, we’ll see pollution return. But the experience of breathing fresh air reinforces the case for switching to electric vehicles.

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Startups look to reduce dependence on lithium from China

As for alternatives to lithium, startups are experimenting with materials that are more readily available. An Indian startup, backed by Mumbai Angels, is experimenting with a composite material using derivatives of abundantly available carbon

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Maharashtra to lift lockdown phase-wise from Wednesday, offices to open 8 June

MUMBAI: The Maharashtra government on Sunday announced phase-wise ease of the two-month old lockdown, notwithstanding the fact that the worst-affected state in the country continues to see high number of fresh covid-19 cases daily. It has extended the lockdown till June 30 even as it moves to gradually ease some restrictions over the next month.

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Slowing growth but expensive valuation, fund managers not buying India story

MUMBAI: An extended pandemic-induced lockdown, believed to be among the harshest in the world, has been a key contributor in Indian markets' rapid decline as a preferred destination for fund managers investing across emerging markets( EMs), say experts.

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Companies revisit loan contracts to seek concessions as covid-19 hits earnings

MUMBAI: Indian corporates are revisiting their loan contracts and seeking concessions on repayment timelines and financial covenants from lenders as covid-19 outbreak and the ensuing suspension of production due to the lockdown have led to sharp erosion in consumer demand and ravaged earnings.

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SBICAP Ventures reduces rate of return on funding stalled projects to 12%

MUMBAI: In some relief for the real estate sector during the covid-19 pandemic, alternative asset manager SBICAP Ventures Ltd has decided to reduce its internal rate of return (IRR) on funding of stalled affordable housing projects by 300 basis points to 12%.

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Lockdown eased but India Inc awaits cues from states to recalibrate business

MUMBAI: Companies will require about three to six months of uninterrupted runway to potentially reach pre-pandemic level of business activity following the latest easing of lockdown curbs in place. Industry representatives, who spoke to Mint, said apart from lack of demand and labour shortage, the varying rules of operations in different states remain a key factor and could lengthen the road to recovery.

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Covid-19: Asia M&A deals at $29.9 bln in May, lowest in 3 years, says report

MUMBAI. Mergers and acquisitions (M&A) transactions across Asia Pacific (excluding Japan), fell to their lowest in three years to$29.9 billion across 709 deals in May, according to a report by Refinitiv, a financial market data provider.

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MUMBAI: Private sector lender IDBI Bank has fallen short of its recovery target by ₹700 crore due to the covid-19 pandemic and the ensuing lockdown, said Rakesh Sharma, chief executive of the bank.

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Covid-19: Maharashtra cases cross 65000, state imposes fine on tobacco consumption, spitting in public

Presently, Maharashtra is the worst affected state in India as nearly 37.5% of the confirmed covid-19 cases in the country emerge from here

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Maharashtra's Covid-19 case count crosses 65,000; death toll at 2,197

The state reported 2,940 new Covid-19 cases in the last 24 hours

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BCCI recommends Rohit Sharma for Khel Ratna; Ishant, Shikhar & Deepti for Arjuna

BCCI President Sourav Ganguly says we went through a lot of data and considered various parameters before shortlisting the nominees

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Maharashtra CM asks varsities to consider average marking system for passing students

Uddhav Thackeray asks ministers and universities to look into various options, including the average marks or grades system and giving students options to take exams for obtaining marks/grades required for their employment or higher education

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Net loss for the entire fiscal year 2019-20 stood at Rs12,887 crore against a loss of Rs15,116 crore in FY19

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Auto dealers, customers may find limited financing options on rising defaults

Automobile dealers and customers may find it difficult to borrow from banks and non-banking financial institutions (NBFCs) as defaults from the sector could increase significantly after the loan moratorium granted by the Reserve Bank of India (RBI) is lifted.

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Plastics For Change raises $2 million from Mirova Natural Capital

MUMBAI: UK-based Plastics For Change (PFC), a recycled plastic supply chain organisation, has raised $2 million from Mirova Natural Capital, an affiliate of Natixis Investment Managers.

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Maharashtra govt hikes honorarium for doctors on bond and contract

Mumbai: In a bid to encourage doctors in the midst of the fight against coronavirus, the Maharashtra government today announced a substantial hike in the honorarium of doctors serving their bonds, bringing it at par with doctors working on a contract basis. "This will further strengthen their resolve in this war against COVID-19," Chief Minister Uddhav Thackeray tweeted.

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Maharashtra covid-19 tally at 62228 cases, 8381 discharged in a day

MUMBAI : Maharashtra on Friday reported 2682 new covid-19 cases, taking the state's tally of coronavirus positive cases to 62228. Active cases however, are at 33124 and total deaths at 2098.

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Covid-19: With record 116 deaths in 24 hours, Maharashtra's toll crosses 2,000

With 116 fresh Covid-19 deaths recorded in the state in the last 24 hours, Maharashtra's coronavirus death toll rise to 2,098, according tot the state health department. The three-digit rise in the number of Covid-19 fatalities in the state is the highest since the outbreak.

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SUN Pharmaceutical Industries share price up 3.53% at closing today

The S&P BSE Healthcare was up 2.3%

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Mid-cap IT companies fare better than large peers in Q4

MUMBAI: Small and mid-cap IT companies have posted better results in the March quarter compared with the top five names in the industry -- Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and HCL Technologies.

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Google's investment in Vodafone Idea can create next big digital ecosystem

MUMBAI : A potential investment in Vodafone Idea by global technology giant Google will further heat up the race to create the next big connected digital ecosystem in India, analysts feel.

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Maharashtra to ease lockdown from June onwards

MUMBAI : Come June, Maharashtra will, begin lifting the lockdown, that the state has been under for over 60 days. The lockdown however, will be lifted in a calibrated manner, allowing only a few establishments to function, according to officials from the Brihanmumbai municipal corporation and state government.

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Mumbai lockdown likely to be extended as coronavirus cases rise over 36,000

Maharashtra's COVID-19 count inched closer to the 60,000-mark. Over 2,500 new infections were confirmed in last 24 hours. As the coronavirus cases in the state continued to increase rapidly, Maharashtra may continue lockdown for few more days.

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Vande Bharat Mission: Air India to operate additional repatriation flights to six countries

NEW DELHI : Air India said it will operate additional repatriation flights to six countries between June 4 and June 6 to bring back stranded Indians under the phase 2 of Vande Bharat Mission.

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Less is more in Chef Ranveer Brar’s lockdown kitchen

What does the celebrity chef make when he is cooking for his family during quaran-time?

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TVS Motor's shares down over 3% as March quarter profit slumps 43%

MUMBAI: Shares of TVS Motor Company fell 3.1% on Friday after the company reported a 43.3% decline in its consolidated net profit to ₹81.85 crore for the quarter ended March.

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RIL turns Alok Industries facility to PPE manufacturing unit

MUMBAI : Reliance Industries Ltd, which acquired textile manufacturer Alok Industries last year, has redeployed the manufacturing capacities of the company in Silvassa, Gujarat for exclusively manufacturing Personal Protective Equipment (PPE) for medical professionals treating covid-19 patients.

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Lockdown extension: Focus on Mumbai, Delhi, Hyderabad, Kolkata and 9 other cities

As India entered the final phase of nationwide lockdown, the centre on Thursday explored the strategy to contain the virus spread in the most-affected areas. India has identified 13 cities that contributed 70% of the total coronavirus cases in the country. With the states registering over 7,000 fresh cases in last 24 hours, India's COVID-19 tally crossed 1.65 lakh-mark.

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After a subdued Q4, Bata India set to crawl through FY21

MUMBAI: Some shopping malls had closed operations even before the nationwide lockdown was imposed on 25 March. As such, the retail sector remains one of the worst affected businesses in covid-19 times. Footwear brand, Bata India Ltd’s March quarter results reflect the pain of the store closures.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0