The number of Coronavirus deaths in the US will jump to over 3,000 and new cases to about 2,00,000 per day by June 1, an internal draft report has said, even as over two dozen US states announced to open up their economy amid the health crisis.

The US is the worst-hit country from the pandemic. By Monday, over 1.2 million Americans tested positive for COVID-19 and the total number of fatalities crossed 69,000.

Multiple media reports on Monday quoted the draft report projecting the horrifying figures. "The numbers underscore a sobering reality: while the US has been hunkered down for the past seven weeks, not much has changed. And the reopening to the economy will make matters worse," The New York Times reported.

"There remains a large number of counties whose burden continues to grow," the US Centers for Disease Control and Prevention (CDC) warned according to the daily.
However, both the White House and the CDC disavowed the report. The slides carry the CDC's logo, The Washington Post reported. The projection was prepared by Justin Lessler, an associate professor of epidemiology at the Johns Hopkins Bloomberg School of Public Health.

"I had no role in the process by which that was presented and shown. This data was presented as an FYI to CDC. it was not in any way intended to be a forecast," Lessler told The Washington Post. "There are reopening scenarios where it could get out of control very quickly," he said.

US gave no proof on COVID-19 origin: UN

The WHO's emergencies chief Michael Ryan said on Monday it has received no evidence from the US government to back up allegations by President Donald Trump that virus could have originated at a laboratory in Wuhan. "From our perspective, this remains speculative."

4 new cases in S Korea, China

China and South Korea, which had early, intense outbreaks of the COVID-19, together reported only four new infections on Tuesday and were slowly resuming public events after months of containment efforts. While South Korea reported three new cases, China reported one.

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The Disneyland theme park in Shanghai will reopen on May 11 under "enhanced health and safety measures," the firm said. Only limited attendance will be allowed initially, and visitors will need to book tickets and make reservations in advance. Social distancing will be maintained in lines for amenities, in restaurants, on rides and other facilities and sanitisation and disinfection will be boosted, it added.

With warmer weather and new virus cases and deaths falling to near-zero, China has been steadily re-opening, parks, museums and tourist sites such as the Great Wall of China and the Forbidden City ancient palace complex in Beijing. China has reported two confirmed cases and 20 new asymptomatic infections.

China asks US for proof
China on Wednesday dared US Secretary of State Mike Pompeo to show "enormous evidence" he claimed to have to prove that the virus originated from a lab in Wuhan and said he has no proof to back up his claims.

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[Source: Research & Innovation] A revolutionary approach to neuro-rehabilitation developed by EU-funded researchers could help intensive care patients to recover, including survivors of the COVID-19 pandemic.

[Source: Research & Innovation] Polymer Comply Europe (PCE) is pleased to announce its next live webinar on the polynSPIRE project “Demonstration of innovative technologies towards a more efficient and sustainable plastic recycling”, organised on behalf of European Plastics Converters (EuPC) and the polynSPIRE project. The live webinar will focus on recycling and redesigning the plastics value chain are essential in reusing plastic waste material and avoiding landfill. Webinar agenda: Welcome & Introduction About CIRCE The polynSPIRE project: goals, challenges and progress Questions & Answers Closing

India's GST Council has put flesh on the bones of its plans to introduce a new goods and services tax regime for real-estate transactions.

India has again extended the due date for furnishing the annual GST return and reconciliation statement for the 2017-18 fiscal year.

The UK Conservative Party has agreed to consider reducing the rate of Air Passenger Duty for airports in Northern Ireland after agreeing a coalition government with the Northern Ireland's Democratic Unionist Party party.

The Hong Kong Financial Services Development Council has released a report calling for the Government to expand its tax treaty network, in particular with countries that have growing aviation industries.

The European Commission has concluded that an exemption for transfer and transit passengers from the Irish air travel tax was in line with EU state aid rules.

German Economy Minister Brigitte Zypries has said that Germany's air passenger tax is damaging the country's aviation industry and should be scrapped.

Indonesia is to hike its air departure tax for Soekarno-Hatta Airport, by far the country's busiest, from March 1.

On March 23, 2020, the Turkish Government published a resolution in the official gazette to temporarily reduce the rate of VAT on air passenger transport to one percent.

The BSE Sensex has surged 640 points to 32,083 (up 2.0%).

Among the top gainers in the BSE Sensex today are HUL (up 4.3%), BAJAJ FINANCE (up 3.3%) and TCS (up 3.0%). Other gainers include RELIANCE IND. (up 2.8%) and MARUTI SUZUKI (up 2.7%).

BAJAJ AUTO (down 2.7%) and NESTLE (down 1.0%) are among the top losers today.

In the meantime, the NSE Nifty Index is up 3,299 points to 9,377 (up 1.9%).

The top gainers in the NSE Nifty Index include include HINDALCO (up 4.5%), HUL (up 4.2%) and ZEE ENTERTAINMENT (up 3.7%). Other gainers include GAIL (up 3.6%) and MARUTI SUZUKI (up 2.6%).

Over the last one year, the BSE Sensex has moved up from Rs 38,277 to Rs 32,083, registering a gain of Rs -6,194 (up -16.2%)..

The top gainers among the BSE Sensex stocks during this same period were BHARTI AIRTEL (up 66.4%), NESTLE (up 63.6%) and HUL (up 22.6%).

Which stocks contributed the most to the BSE Sensex?

The biggest contributors to the gain in the Sensex today were HUL (86 points) and BAJAJ FINANCE (68 points).

Among the other contributors were TCS (57 points) and RELIANCE IND. (43 points).

What about the other broader BSE Indices?

The BSE 100 index has gained -2,133 points today and is now trading at 9,475 (down 18.4%). The top gainer here is AVENUE SUPERMARTS LTD (up 76.0%).

The BSE 500 on the other hand gained 2,818 points (up 1.7%), and is currently at 12,141.

Share markets in India are presently trading on a positive note. Benchmark indices advanced today tracking firm global cues.

Further, talks of an economic stimulus for small businesses battered by the coronavirus outbreak improved sentiment.

Reportedly, the government may unveil fiscal stimulus amounting to 0.3% of the country's gross domestic product, focusing on small and medium sized businesses, real estate firms and banks.

The BSE Sensex is trading up by 524 points while the NSE Nifty is trading up by 146 points.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% and 0.7%, respectively.

Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest, while power stocks are witnessing selling pressure.

The rupee is currently trading at 75.44 against the US$.

Gold prices are currently trading down by 0.1% at Rs 46,134.

Speaking of the current stock market scenario, after a sharp rally in the past few weeks, the markets have turned volatile again.

You would be interested in knowing when the market will likely bottom out.

Vijay Bhambwani, editor of Weekly Cash Alerts, has the answer and he has recorded a video about it.

You can check the same here - This is When the Stock Market Will Bottom Out

Moving on, market participants are tracking Shree Cement share price, TCI Express share price, and SBI Cards and Payment Services share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

You can read our recently released Q4FY20 results of other companies here: Ambuja Cement, IndusInd Bank, Axis Bank, Tech Mahindra, Reliance Industries, Marico, Kansai Nerolac, NIIT Technologies, Persistent Systems, SKF India.

In news from the banking sector, public sector banks (PSBs) sanctioned loans worth Rs 5.66 lakh crore for the March-April period to 41.81 lakh accounts, according to the finance ministry.

The borrowers represented the micro small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors.

Reportedly, PSB loans amounting to Rs 265 billion have been sanctioned in 2.37 lakh cases for MSMEs.

This is part of the PSB initiative to prioritise pre-approved emergency credit lines and enhanced working capital requirements to the sector.

Meanwhile, PSBs sanctioned loans worth Rs 773.8 billion to non-banking financial companies (NBFCs) and housing finance companies (HFCs) between March 1 and May 4.

Including the Reserve Bank of India's (RBI) targeted long term repo operations (TLTRO) window, PSBs extended Rs 1.08 lakh crore of financing to ensure business stability and continuity.

The finance ministry said that the three-month loan moratorium facility announced by the RBI has been availed by 3.2 crore PSB accounts.

On Thursday, Finance Minister Nirmala Sitharaman said that the Indian economy is poised to recover from the recent crisis brought upon by the coronavirus pandemic with PSB sanctioning loans worth Rs 5.66 lakh crore in just two months.

Speaking of the banking sector, the low access to credit for micro small and medium enterprises (MSMEs) tells us there is a huge opportunity for lenders.

This is evident from the chart below:

India's Huge Lending Opportunity

Of the 60 million MSMEs in India, only 11% had access to credit from organised lenders. Most of them are self-financed or get credit from unorganised sources.

Here's what Tanushree Banerjee wrote about this in one of the editions of The 5 Minute WrapUp...

• Self-financing limits the growth of these MSMEs. On the other hand, high interest rates from unorganised sources makes it difficult for them to earn profits.
  
  The Modi government is looking at various ways to correct this problem. Mudra loans, online loans facilities are being made available to MSMEs.
  
  Slowly but surely, lenders are sensing the huge opportunity that lies ahead for this sector.
  
  Banks and other financial firms with prudent lending practices and strong distribution networks will benefit from this megatrend.

Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from this megatrend.

As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them here.

Moving on to news from the FMCG sector, shares of Hindustan Unilever (HUL) rose 4% today after institutional investors bought stake in the company via open market on Thursday.

The NSE bulk deal data showed that foreign portfolio investor Societe Generale, a French multinational investment bank and financial services company, bought 129 million shares of HUL at an average price of Rs 1,902.

UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals, yesterday.

According to the term sheet, over 133 million shares were offered in the range of Rs 1,850-1,950 to investors through a special block window.

The deal is valued roughly between Rs 246 billion to Rs 259 billion.

Note that last week, HUL reported a 7% decline in volumes in Q4FY20. The company's profit before tax fell 10.6% to Rs 19.9 billion, while net profit declined 1.2% year-on-year (YoY) to Rs 15.2 billion.

HUL share price is presently trading up by 3%.

To know more about the company, you can HUL's latest result analysis on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

Over 2,000 taxpayers made use of South Africa's Special Voluntary Disclosure Programme, which closed on August 31, 2017, the South African Revenue Service said October 10.

The OnePlus Bullets Wireless Z earphones come with a magnetic stripe on the earbuds that pause music when attached.

Jio has introduced an annual work-from-home annual plan for Rs 2399 that gives its users 2GB daily data. It has also brought in three work-from-home add-on plans.

Sensex, Nifty Live News Today: SBI Cards and Payment Services, Adani Gas, Shree Cement, Procter & Gamble Hygiene & Health Care, Reliance Power, Reliance Infrastructure, Reliance Home Finance, Reliance Capital among others will be reporting their March quarterly results today

At the interbank foreign exchange, the rupee opened at 75.36, then gained ground to touch 75.27, registering a rise of 45 paise over its previous close

Share price of Reliance Industries gained 4.43% to Rs 1,574 compared to the previous close of Rs 1,507 on BSE. Reliance Industries stock gained 9.11% in the last four days

Stock specific action was seen in index heavyweight Reliance Industries gained 3.43% to Rs 1,558 on BSE after PE firm Vista Equity Partners said it would invest Rs 11,367 crore into Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Shares of Asian Paints closed 1.01 per cent lower at 1,577against previous close of Rs 1593 on BSE

The upper house of the German parliament, the Bundesrat, has rejected certain tax elements of the Government's climate protection plan, including a reduction in value-added tax on long-distance rail travel.

According to a PTI report, all state governments except Maharashtra have been paying for the railway costs to ferry passengers to their native places

In a letter to Banerjee, Shah accused the Bengal government of not allowing "shramik (worker)" trains to reach Bengal and warned that non-cooperation would create hardship for state's migrants

ICICI Bank's board also approved issuances of bonds/notes/offshore Certificate of Deposits in overseas markets up to $3 billion in single or multiple tranches for a period of one year

The CBI had recently booked Ram Dev International and its directors Naresh Kumar, Suresh Kumar and Sangita, for defrauding Rs 414 crore

Inmarsat, together with Global Marine Networks and Network Innovations, announced on February 22 that the trial of Fleet Xpress in Antartic waters was a success. The service – the world's first globally available high-speed broadband service from a single network operator – was installed on board the adventure cruise ship Ocean Nova.

The European Commission has invited comments on commitments offered by fifteen container liner shipping companies to address concerns raised relating to concerted practices.

The European Commission's ruling directing the Government of the Netherlands to repeal corporate tax exemptions benefiting six seaports will be appealed by the ports in question.

Among patients given hydroxychloroquine, 32.3% ended up needing a ventilator or dying, compared with 14.9% of patients who were not given the drug

Coronavirus impact: IndiGo CEO Ronojoy Dutta told the employees that they are left with no option but to implement pay-cuts. The airline had earlier rolled back its decision to cut pay

Jio has also announced new add-on data packs under work from home theme

China has made a number of announcements on anti-dumping duty orders, including to launch an investigation into US, Korean, and Taiwanese exports of styrene, which is used to manufacture plastics and resins.

The Consumers Association of Penang (CAP) has called on the Malaysian Government to reintroduce inheritance tax in the Budget 2018.

Malaysian authorities are developing draft legislation to level the tax playing field between online retailers and domestic bricks and mortar retailers.

The Inland Revenue Board of Malaysia has released new guidance on restrictions to the deductibility of interest expenses.

When you approach a lender for loan against mutual fund, it fixes a loan-to-value (LTV) ratio against it. It varies from one lender to another as per risk involved in the MF scheme and regulatory caps fixed by the RBI

A group of 21 Republican members of the US Senate have signed a letter to the Treasury Secretary urging him to amend how capital gains tax liability is calculated.

On July 19, 2019, the United States Internal Revenue Service Large Business and International Division announced six additional compliance campaigns.

New type of nanoparticle developed by scientists effectively vaccinated mice against dengue virus. The findings of the study published in PLOS Neglected Tropical Diseases.

Dengue, one of the mosquito-causing disease has declined in the number of new cases in the past decade. But the outbreaks have increased now and the spread

In children, previous infection with dengue virus was found to protect them from symptomatic Zika, according to a study published in the open-access journal

Researchers have found that mild Zika virus infection in fetuses can cause abnormal brain development in apparently healthy young animals this might be applicable to humans as well.

Highlights: Acupuncture can now help reduce migraine headaches More than one billion people worldwide are a

Three-quarters of Europeans want the European Union to do more to tackle tax evasion, according to a new survey by Eurobarometer.

UK tax authority HM Revenue and Customs has said that it is aware of a new tax avoidance scheme that attempts to exploit Entrepreneurs' Relief by turning what would be income into a capital gain.

The United States International Trade Commission will issue countervailing duty orders on imports of cold-drawn mechanical tubing from China and India, after determining that they are causing material injury to US manufacturers.

Ritalin and similar medications, commonly prescribed to patients with attention deficit hyperactivity disorder, also used by healthy people as a "study