Reserve Bank will review the timeline and amount, depending upon market conditions

The Government of India and the Asian Development Bank (ADB) signed a $1.5 billion loan that will support the government's response to the novel coronavirus disease (COVID-19) pandemic, focusing on immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections of the society, especially women and disadvantaged groups. Earlier, the ADB's Board of Directors approved the loan to provide budget support to the government to counter and mitigate the adverse health and socio-economic impact of the pandemic.

Minister of Commerce and Industry & Railways Shri Piyush Goyal held discussions with the Export Promotion Councils(EPCs) of the country. He called upon the Exporters to identify their strengths, potentials and competitive advantages in specific sectors, and focus on harnessing them in the world markets. Goyal said that in the post-Covid era, there is going to be perceptible change in the global supply-chains, and Indian industrialists and exporters should be looking to capture significant share in the world trade. He assured them that the Government will be a pro-active supporter and facilitator in their efforts, and the Indian Missions abroad can play an important role in that. The Minister said that Incentives can be given, but they have to be justified, reasonable, and WTO-compliant.

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In his opening remarks, the Governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.

The country-wide lockdown imposed on 23rd March, while necessary, has had deep ramifications on economic activity. According to the CII CEOs Snap Poll on Impact of COVID-19 on Economy and Industry, while a majority of the firms continue to anticipate a significant decline in their topline, they now foresee a delay in economic revival and demand recovery. The survey saw the participation of more than 300 CEOs, of which nearly two-thirds belonged to MSMEs. The lockdown brought economic activity to a grinding halt and the survey findings indicate that a significant majority of the firms (65%) expect revenues to fall more than 40% in the current quarter (Apr-Jun 2020). For financial year 2020-21, the expectations of a fall in revenue are staggered, with 33% of the firms anticipating a revenue fall of more than 40%, closely followed by 32% of firms expecting a revenue contraction ranging between 20% to 40%.

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Union Minister for MSME and Road Transport and Highways, Nitin Gadkari informed that a policy on imports substitution is being thought of in the wake of the new economic situation created by COVID-19 pandemic. He called upon various stake-holders to convert knowledge into wealth by improving quality through innovations and cutting down cost. He sited the example of a Nagpur based MSME Orange cluster taking up PPE making from scratch. These PPEs cost between Rs 550 to Rs 650 against the market price of about Rs 1200 for which country was heavily import dependent. The cluster is in a position to supply large quantity of PPEs.

The procurement of wheat and rice (second crop) during the ongoing Rabi season has picked up pace despite severe logistical constraints posed due to the countrywide lockdown. Against the target of 400 Lakh Metric Tonnes (LMT) of wheat, procurement for central pool has touched 216 LMT upto 06.05.20. It is particularly heartening since procurement in major wheat procuring states like Punjab, Haryana and Madhya Pradesh had started only after 15th April. Similarly paddy procurement is also going on smoothly with 44.9 LMT paddy procured so far by the government agencies.

Sales rise 69.34% to Rs 35.41 crore

Sales decline 7.68% to Rs 1073.60 crore

Sales rise 6.60% to Rs 209.26 crore

Sales decline 0.77% to Rs 462.25 crore

Sales decline 2.13% to Rs 3415.14 crore

Sales decline 57.18% to Rs 118.66 crore

Sales rise 13.39% to Rs 1798.05 crore

Sales decline 33.91% to Rs 3580.00 crore

Sales decline 9.01% to Rs 3625.86 crore

Anbumani is trailing in Pennagaram constituency.

Election trends suggest that Congress has lost in Kerala and Assam and has failed to make a dent in West Bengal and Tamil Nadu despite alliances

Some with direct connections to political dispensations could face heat; others considered close to the winning party could expect good times

The J Jayalalithaa-led AIADMK has retained power by winning 134 seats in the 234 Assembly seats

26% bridges are over 100-year old, 5% crossed 140 years

Wants patient treatment, which is currently exempt from service tax, to continue to enjoy this sop under GST for 10 years

Gillette India fell 1.13% to Rs 4,934.50 after net profit slumped 40.31% to Rs 52.38 crore on a 12.66% drop in net sales to Rs 406.57 crore in Q3 March 2020 over Q3 March 2019.

NLC India fell 0.46% to Rs 43.70 after the company said eight workers were injured in a fire accident at the TS II power plant in Neyveli, Tamil Nadu.

SBI Card's net profit jumped 43.9% to Rs 1244.82 crore on a 33.8% rise in total income to Rs 9752.29 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19)

As speculation grows over Joe Biden’s selection of a running mate, WSJ’s Gerald F. Seib looks at past picks for clues into what factors the former vice president will consider, and why this year’s choice is more important than ever. Photo: Getty Images

As fears of the novel coronavirus spread through the U.S., the high-contact tradition of presidential campaigning came to a halt. WSJ's Gerald F. Seib explains what Americans may see as campaigning resumes. Photo: Shutterstock/Zuma Press

The Trump administration steps up assertions that the coronavirus originated at a lab in Wuhan, governments around the world start to allow businesses to reopen, millions of imported masks fall short of N95 standards. WSJ’s Jason Bellini has the latest on the pandemic. Photo: Scott Keeler/Zuma Press

Sales decline 2.83% to Rs 616.61 crore

Sales rise 25.20% to Rs 3186.96 crore

Total Operating Income rise 11.47% to Rs 21740.68 crore

On 08 May 2020

Adani Enterprises on Friday (8 May) said it has incorporated a wholly-owned subsidiary company, "Nanasa Pidgaon Road" on 8 May 2020.

At least six security personnel, including an Army major, were killed on Friday when a roadside bomb struck a patrol vehicle in a remote area in southwestern Pakistan, close to the border with Iran. The Army said in a statement that a vehicle of paramilitary Frontier Corps was targeted through a remote-controlled improvised explosive device (IED) in Kech district's Buleda area, about 14 km from the Iran border. A major and five soldier embraced shahadat while one soldier was injured, according to army. No one took responsibility but Baloch militants often target the security forces in the province. It is the first major attack on the forces in Balochistan since the outbreak of COVID-19.

The number of people in Italy who've died with COVID-19 infections has topped 30,000. The Health Ministry registered 243 deaths on Friday, bringing the total of those who died in the country to 30,201. Italy was the first country in Europe with a major outbreak of the coronavirus. Authorities say many more likely died with the infection at home or in nursing homes without being diagnosed. With 1,327 more cases registered in the 24-hour period ending Friday evening, Italy now tallies 217,185 confirmed coronavirus infections. Some 11,000 more people have recovered from the illness than are currently positive for the infection. Lombardy in the north continues to be the hardest-hit region, accounting for nearly one-half of the latest cases registered on Friday. Health and government authorities are concerned that partial easing earlier in the week of some lockdown measures, such as re-opening of public parks and gardens, could see an uptick in contagion if people ignore safety-distance ...

Arguing that a one-time payment of USD 1,200 to most of the Americans during the coronavirus outbreak is not enough, three top Democratic senators introduced a legislation on Friday to provide a recurring USD-2,000 monthly check to those struggling to make ends meet during the COVID-19 pandemic. The Monthly Economic Crisis Support Act, introduced by former presidential candidate Senator Bernie Sanders, Indian-origin Senator Kamala Harris and Senator Ed Markey, proposes to provide a monthly USD-2,000 check to every individual with an income below USD 120,000 throughout and for three months following the coronavirus pandemic. According to the proposal, married couples who file jointly would receive USD 4,000; USD 2,000 per child up to three children and it would be implemented retroactively from March. The coronavirus pandemic has caused millions to struggle to pay the bills or feed their families, Harris said. The previous CARES Act, she argued, gave Americans an important one-time ...

China continues to hide and obfuscate COVID-19 data from the world, US Secretary of State Mike Pompeo said on Friday, asserting that he has seen a significant amount of evidence suggesting that a laboratory in the Chinese city of Wuhan was underperforming and the virus could well have emanated from there. "I have seen a significant amount of evidence that suggests that the lab was underperforming, that there were security risks at the lab and that the virus could well have emanated from there," Pompeo told Ben Shapiro in an interview. "But I am happy to suspend the decision about that. What we need are answers. There are still people dying," he said. By Friday, more than 78,000 Americans had died and 13 lakh tested positive for the coronavirus. Globally, more than 273,000 people have died and 39 lakh tested positive for the disease. The American economy and those of the rest of the world have come to a standstill. "We have got an economy now that is really struggling and it is all a ..

Democratic Party's presumptive presidential nominee and former US vice president Joe Biden alleged on Friday that President Donald Trump utterly failed to prepare for the COVID-19 pandemic and said his entire economic strategy is focussed on helping the wealthy and big corporations. Referring to the record 2.05 crore jobs lost in April alone, resulting in an unprecedented unemployment rate of 14.7 per cent now -- the highest since the Great Depression -- Biden, in a major policy speech, said it is an economic disaster, worse than any in decades, and it was made all the more worse because it did not have to be this way. "Donald Trump utterly failed to prepare for this pandemic and delayed in taking the necessary steps to safeguard our nation against the near-worst-case economic scenario we are now living in," he said in his remarks on "Trump's Disastrous Economy". COVID-19 caused a massive economic challenge, but the crisis hit the US harder and will last longer because Trump spent the

North Korea says leader Kim Jong Un sent a letter to Russian President Vladimir Putin to congratulate him on the 75th anniversary of the allied victory in World War II and wishing Russia success in fighting its coronavirus outbreak. The report by Pyongyang's official Korean Central News Agency on Saturday came a day after it reported Kim sent a personal message to Chinese President Xi Jinping to praise what he described as China's success in getting its COVID-19 epidemic under control. Some experts say the North could intensify its diplomatic outreach to neighbors, particularly China, as it seeks economic help after closing its border for months to fend off the virus. KCNA says Kim's message sincerely wished the president and people of Russia sure victory in their struggle to build a powerful Russia by carrying forward the tradition of the great victory in the war and to prevent the spread of the novel coronavirus infection.

An appeals court should let a June 23 primary election in New York state proceed without voters and poll workers being forced to risk exposure to the coronavirus to vote for a Democratic candidate for president when the race is essentially over, lawyers for the state said Friday. The written arguments were filed by Attorney General Letitia James and Senior Assistant Solicitor Judith N. Vale after a judge ordered the state to include the presidential race on the ballot even though former Vice President Joe Biden is essentially running unopposed. The 2nd U.S. Circuit Court of Appeals in Manhattan has scheduled oral arguments for next Friday. On Tuesday, U.S. District Judge Analisa Torres said it was unconstitutional to eliminate the Democratic presidential primary after delegates for withdrawn candidates Bernie Sanders and Andrew Yang complained that doing so weakens their standing at the Democratic Convention. She noted that a primary for contested races across New York state was ...

In Texas, where the Republican governor was praised by President Donald Trump for loosening restrictions, hair salons and barber shops were allowed to reopen Friday, following earlier restarts of restaurants and retailers. Republican Senator Ted Cruz flew up from Houston to get his hair cut at a Dallas salon that became a rallying cry for conservative protests against lockdown orders after the owner refused to shut down and was jailed. She was later ordered released. California, which imposed the first statewide stay-home order in the U.S., was taking more modest steps. Democratic Governor Gavin Newsom allowed clothing stores, sporting goods shops, florists and other retailers to start operating curbside pickup Friday, with many employees required to wear masks. Pennsylvania announced that 13 counties, including much of the Pittsburgh area, can loosen restrictions next week, following a similar move for a swath of rural northern Pennsylvania. South Carolina restaurants can reopen with

AC Milan president Paolo Scaroni has revealed that some of his squad members were still recovering from coronavirus. Serie A has been on hold since mid-March but Italian Sports Minister Vincenzo Spadafora said on Thursday he was hopeful group training could resume on May 18. "We have some infected players in the process of recovery," Scaroni told local media. Scaroni believes Italian football must live with COVID-19 and take an example from the Bundesliga which will restart on May 16. "We have to get used to living with the virus and this also applies to football," he said. "It is not possible to stand still until there is zero infection. Basically we can adopt the German formula that provides that those who are sick go into quarantine while their teammates continue." Milan technical director Paolo Maldini, together with his 18-year-old son Daniel, a youth team player, have both recovered from the virus. "Maldini father and son are doing well. There are players who are improving, but .

Indian Olympic Association President Narinder Batra's tenure as the chief of the International Hockey Federation (FIH) has been extended till May next year after its annual congress was postponed due to the COVID-19 pandemic. The decision to postpone the Congress, which was earlier scheduled to begin in New Delhi on October 28, was taken at an online meeting of the FIH Executive Board on Friday. "I'm looking forward to the numerous tournaments and competitions ahead of us, which we are preparing with full dedication and passion with all National Associations involved," Batra said. The exact date of the postponed congress will be confirmed as soon as possible, the FIH said in a statement. "This decision, made due to the current uncertainties following the global COVID-19 pandemic, is based on Art. 12.1 of the FIH Statutes, covering cases of force majeure," it added. The postponement means the tenures of all the current FIH office-bearers get extension until next year's ...

Video released Friday from a Maryland police officer's body camera captures him warning the man to drop a knife and get down on the ground before he fatally shot the man as he charged at the officer. Montgomery County Police Sgt. David Cohen fired the first of at least five shots about one minute after he exited his patrol vehicle and confronted Finan H. Berhe, 30, in a residential parking lot on Thursday afternoon. Put the knife down! Cohen screamed as Berhe ran toward him and then stopped, momentarily backing away from the officer, who was pointing a gun at him. Get on the ground! I don't want to shoot you! Cohen shouted just before Berhe started running at the officer again. As the officer opened fire, Berhe collapsed and dropped an object he was holding. Man down! a man shouted after the shooting stopped. Police said investigators recovered a knife that Berhe was brandishing when Cohen shot him. Berhe died at a hospital, police said. No officers were injured. Department spokesman

Vice President Mike Pence's press secretary has the coronavirus, the White House said, making her the second person who works at the White House complex known to test positive for the virus this week. President Donald Trump, who publicly identified the affected Pence aide, said he was not worried about the virus spreading in the White House. Nonetheless, officials said they were stepping up safety protocols for the complex. Pence spokeswoman Katie Miller, who tested positive Friday, had been in recent contact with Pence but not with the president. She is married to Stephen Miller, a top Trump adviser. The White House had no immediate comment on whether Stephen Miller had been tested or if he was still working in the White House. Katie Miller had tested negative Thursday, a day before her positive result. This is why the whole concept of tests aren't necessarily great, Trump said. The tests are perfect but something can happen between a test where it's good and then something ...

Several American lawmakers have introduced a legislation in Congress to offer the 40,000 unused green cards to thousands of foreign nurses and doctors to meet the urgent needs of the overstretched healthcare sector in the US, the worst hit nation by the coronavirus pandemic. The US has nearly 1,284,000 cases of confirmed COVID-19 cases and over 77,000 people have died due to the highly contagious disease. The Healthcare Workforce Resilience Act would allow for recapturing green cards that were approved by Congress but unused in past years, allowing thousands of additional medical professionals to serve permanently in the United States. The legislation would send green cards to 25,000 nurses and 15,000 doctors during the COVID-19 pandemic and ensure that states like Iowa have the professionals they need to serve patients for years to come, a media release said. The move is likely to benefit a large number of Indian nurses and doctors in the US, who are either on H-1B or J2 visas. The ..

President Donald Trump says he's in no rush to negotiate another financial rescue bill, even as the government reported that more than 20 million Americans lost their jobs last month due to economic upheaval caused by the coronavirus. The president's low-key approach came Friday as the Labor Department reported the highest unemployment rate since the Great Depression and as Democrats prepared to unveil what Senate Democratic leader Chuck Schumer calls a Rooseveltian-style aid package to shore up the economy and address the health crisis. Some congressional conservatives, meanwhile, who set aside long-held opposition to deficits to pass more than USD 2 trillion in relief so far, have expressed reservations about another massive spending package. We've kind of paused as far as formal negotiations go, Larry Kudlow, the director of the National Economic Council told reporters Friday. He said the administration wanted to let the last round of recovery funding kick in before committing to ..

In a worrying development, a five-year old boy has died in New York from a rare inflammatory illness linked to the coronavirus, while the death of another seven-year-old boy is being investigated for possible links to the mysterious pediatric syndrome. The New York State Department of Health is investigating several cases of the severe illness in children and child deaths that may be linked to the serious inflammatory disease called "Pediatric Multi-System Inflammatory Syndrome Associated with COVID-19." There have been 73 reported cases in New York where children are experiencing symptoms similar to Kawasaki disease and toxic shock-like syndrome possibly due to COVID-19. On Thursday, a 5-year-old boy died in the New York City from these COVID-related complications, Cuomo said. Officials in Westchester County in upstate New York say that a 7-year-old boy died late last week at Maria Fareri Children's Hospital in Valhalla. Michael Gewitz, Physician-in-Chief of Maria Fareri Children's ..