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Coronavirus Outbreak: Headgears used by China school is winning the internet

After being the epicentre of the Coronavirus outbreak, China is final limping back into normalcy and the citizens, government, and public institutions are taking the necessary steps to avert another outbreak. And while the country is at it, a school in Hanzhou came with a creative idea to ensure children thoroughly follow social distancing norms.

Eileen Chengyin Chow, a professor at the Duke University posted pictures of first graders at the Yangzheng Elementary School in Hanzhou on her Twitter account on April 27. What’s striking about the pictures is the headgears the students are wearing in class, that bears resemblance to that of the soldiers belonging to the Song Dynasty. The colourful head gear, that teaches the historical context it has in the country and also helps maintain social distance,  has a 3 feet-long rod made of  soft materials such as cardboard or foam, attached on the sides.

Chow explains the  historical context of the headgears’ designs in the tweet, that reads, “The long horizontal plumes on Song Dynasty toppers were supposedly to prevent officials from conspiring sotto voce with one another while at court—so social distancing was in fact their original function!”

The professor’s post garnered more than 17,300 likes and was retweeted over 8,300 times. The users commenting on the posts lauded the teacher who used a smart way to designed these headgears that has a historical significance.

What do you think about the post?

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UK announces 60,000 pounds for kin of COVID-19 NHS victims

The UK came together on Tuesday for a minute's silence in the honour of hundreds of healthcare and other workers who have lost their lives on the frontline of the Coronavirus fight across the country.

Prime Minister Boris Johnson, who just recovered from a severe coronavirus attack, led the tributes with UK Chancellor Rishi Sunak at 10 Downing Street for the National Health Service (NHS) and other key workers across care homes and public transport.

The tribute comes as the government announced a new time-bound insurance scheme for the families of such public sector healthcare workers who lost their lives while on duty during the pandemic, with a £60,000 Life Assurance Scheme.

"Financial worries should be the last thing on the minds of their families so in recognition of these unprecedented circumstances we are expanding financial protection to the NHS and social workers delivering publicly funded care on the frontline," said UK Health Secretary Matt Hancock.

"Nothing can make up for the tragic loss of a loved one during this pandemic. We owe a huge debt to those who die in service to our nation and are doing everything we can to protect them.

"We will continue to strive night and day to provide them with the support and protection they need and deserve to keep them safe as they work tirelessly to save lives," he said.

He said that bereaved family members will receive a £60,000 lump sum, worth roughly twice the average pensionable pay for the NHS staff, with the cost met by the government. The cases in the UK has reached 1,58,348 while 21,092 people have died, according to Johns Hopkins University tracker.

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Imran revamps media team amid mounting criticism over COVID-19 crisis handling

Pakistan Prime Minister Imran Khan has fired his special aide on I&B and replaced her with a powerful former military spokesman as he revamped his media team for the second time since coming to power amid mounting criticism for failing to address key issues including the COVID-19 outbreak.

Former Army spokesman Lt Gen (retied) Asim Saleem Bajwa, who is also the chairman of the newly created China Pakistan Economic Corridor (CPEC) Authority, has replaced Dr Firdous Ashiq Awan as the Special Assistant to the PM for information and broadcasting (I&B).

PM Khan also appointed Senator Shibli Faraz as the new information minister. Minister for Science Fawad Chaudhry announced the new appointments. The changes were made to blunt the perception that the government's media handling was not good and its work was not being properly highlighted amid the health crisis.

"The way these changes have been made will not give a good impression and help the cause of the government," analyst Ayaz Amir told Dunya TV. Pakistan has 14,079 COVID-19 cases so far.

301
No. of COVID-19 deaths in Pakistan

Now, Beijing to shut COVID-19 hospital

Authorities in Beijing are set to close a COVID-19 special hospital, Xiaotangshan Hospital, after clearing all the cases even as China reported six new infections and 40 fresh asymptomatic cases on Tuesday. The move comes days after Wuhan closed 16 temporary hospitals and discharged its last patient on Sunday.

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COVID-19: British Airways to cut 12,000 jobs amid grounded air travel

British Airways may be forced to cut more than a quarter of its workforce as the coronavirus pandemic takes its toll on one of Europe's biggest airlines. Parent company IAG (ICAGY) said in a statement cited by CNN on Tuesday that the Airways is notifying labour unions about a restructuring program which will affect most employees and "may result in the redundancy of up to 12,000 of them." IAG, which also includes Spanish airline Iberia, said its first-quarter revenues declined by 13 per cent to EUR4.6 billion (USD 5 billion) as it swung to an operating loss of EUR535 million (USD 579 million).

The airline group warned that losses in the second quarter would be "significantly worse" and that it expects that "the recovery of passenger demand to 2019 levels will take several years." The warning echos a similar decision made by airline group Lufthansa (DLAKY), which owns national carriers in Germany, Switzerland, Austria and Belgium. Announcing earlier this month that it was permanently reducing the size of its fleet and shuttering one of its low-cost carriers, Lufthansa said that worldwide demand for air travel will take years to recover from the coronavirus.

"What we are facing as an airline ... is that there is no 'normal' any longer," British Airways CEO Alex Cruz said in a letter to staff that was released to CNN Business. "Yesterday, British Airways flew just a handful of aircraft out of Heathrow. On a normal day, we would fly more than 300," he added. The news comes as flight bans and nationwide lockdowns are threatening to bankrupt airlines around the world. The "mounting financial crisis" facing carriers could cause revenues to tumble by as much as 55 per cent this year, or some USD 314 billion, according to the International Air Transport Association.

Virgin Australia collapsed into administration last week, while sister airline Virgin Atlantic confirmed on Monday that it was on the hunt for outside investors to keep it alive. Virgin Atlantic, which is controlled by Richard Branson's Virgin Group, is also seeking a commercial loan from the British government. Earlier this month, British Airways furloughed 30,000 employees on 80 per cent of their regular monthly pay until the end of May, with the government covering the first PS2,500 (USD 3,100) under its coronavirus job retention program.

But Cruz said the outlook for the aviation sector had worsened in the last few weeks and measures taken to conserve cash were not enough. "There is no government bailout standing by for BA and we cannot expect the taxpayer to offset salaries indefinitely," he added. "Any money we borrow now... will not address the longer-term challenges we face," he wrote.

With no certainty on when lockdowns will lift or when countries will reopen their borders, British Airways has to "reshape" itself, Cruz said. "The scale of this challenge requires substantial change so we are in a competitive and resilient position, not just to address the immediate Covid-19 pandemic, but also to withstand any longer term reductions in customer demand, economic shocks or other events that could affect us," he added.

The collapse in air traffic puts about 6.7 million jobs at risk in Europe, according to IATA, which has called for urgent government action to "preserve air services."

In a similar circumstance, Air France-KLM (AFLYY) further announced on Friday that following "several weeks of discussions" with the French government and banks, it had secured EUR7 billion ($7.6 billion) in loans backed by the French state "to help overcome the crisis and prepare for the future."

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COVID-19: As cases hit 1 million in US, many Americans opt to stay back in India

Many Americans in India who had signed up for airlifts back to the US are now deciding to stay back and "ride it out" during the COVID-19 pandemic, according to the State Department's top consular official. Principal Deputy Assistant Secretary of State Ian Brownlee said on Tuesday that many who had enlisted for repatriation from India were not responding to offers of seats on the planes arranged by the department to take them home.

The number of recorded COVID-19 cases in the US reached 1 million on Tuesday, with 58,348 deaths, while India had only 31,368 officially recorded cases with 1,008 fatalities, according to the Johns Hopkins University tracker. Brownlee said: "Two weeks ago, we had a list of folks and we were pretty sure if we called (the) folks they'd show up at the airport and say, 'Yes, please.' We're now getting to the point on that list, we're having to make multiple calls for individual seats because people are deciding 'No,' they'd just as soon ride it out where they are."

Last week he said that 4,000 Americans had been brought back to the US and 6,000 were waiting for airlifts. India has cancelled passenger flights and rail transportation during the strict lockdown imposed on March 25.

Brownlee had spoken earlier of the massive logistics effort required to bring Americans from around the vast country to Mumbai and New Delhi, the departure points for the chartered flights.

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US COVID-19 deaths toll surpasses American fatalities in Vietnam War

The US became the first country in the world to have more than one million cases of the novel Coronavirus. It accounts for nearly one-third of the 3.1 million cases globally on Tuesday, while the fatalities spiked to over 58,300, exceeding the number of American soldiers who lost their lives in the two-decade-long Vietnam War.

'We're coming back strong'
According to the US National Archives, 58,220 American soldiers died in the Vietnam conflict, which began in 1955 and ended in 1975. With 58,355 deaths so far, the US also accounts for one-fourth of the over 2,13,000 global fatalities.

"We continue to pray for the victims as well as for those Americans who are grieving their lost ones and their loved ones. There's never been anything like this. We suffer with one heart but we will prevail. We are coming back, and we're coming back strong," US President Donald Trump said at the White House during his remarks on the Paycheck Protection Programme.

"Now that our experts believe the worst days of the pandemic are behind us, Americans are looking forward to the safe and rapid reopening of our country," he said. "Throughout this ordeal, millions of hard-working Americans have been asked to really make tremendous, tremendous sacrifices. It is sacrifices like nobody thought would even be possible; nobody thought we would ever be talking about something like this," Trump said. Meanwhile, several states have initiated the process to reopen their economies.

Some states reopen
In California, Governor Gavin Newsom outlined the phased reopening of his state.
"We are not going back to the way things were until we get to immunity or a vaccine. We will base reopening plans on facts and data, not on ideology. Not what we want. Not what we hope," he told reporters. More than 1,800 people have died due to the coronavirus in California so far. Schools and colleges, he said, could start in July-August.

Texas Governor Greg Abbott has also announced first phase reopening of the state. Tennessee on Monday allowed reopening of restaurants and later this week retail outlets could resume their businesses. Pennsylvania has announced three-phase reopening of the state beginning May 3. The US, Trump said, is opening up again.

58,355
No. of deaths due to COVID-19 in America

58,220
No. of US soldiers killed in two-decade-long war


People visit Yellow Crane Tower after it reopened to the public in China's Wuhan, the epicentre of the COVID-19 outbreak, on Wednesday. Pic/AFP

China's parliament to meet on May 22

China on Wednesday said it will hold from May 22 its annual parliament session, signalling that the pandemic that paralysed the country for over three months is finally under control. The third session of the 13th National People's Congress, which was to be held from March 5, was postponed for the first time ever due to the COVID-19 outbreak.

After rolling out exit plan, Spain sees spike

With 325 new deaths, Spain on Wednesday witnessed a slight rebound in fatalities, a day after Prime Minister Pedro Sanchez announced his plan to ease the COVID-19 lockdown. Individual exercise, haircuts and other personalised services with an appointment will be allowed from Saturday. COVID-19 has killed 24,275 Spaniards and infected over 2,12,000.

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USAID announces additional USD 3 mn aid to India to fight coronavirus

The US Government, through its aid agency USAID, has announced a grant of an additional USD 3 million to India to mitigate the spread of COVID-19. In coordination with the Indian government, the USAID is providing these funds to the Partnerships for Affordable Healthcare Access and Longevity (PAHAL) project, an innovative financing platform of IPE Global, USAID said in a statement on Wednesday. US Ambassador to India, Kenneth Juster, stated: "This additional funding to support India in its continuing efforts to combat COVID-19 is yet another example of the strong and enduring partnership between the United States and India."

To date, the USAID has provided USD 5.9 million to assist India in responding to the COVID-19 outbreak. This assistance will help India slow the spread of COVID-19, provide care for the affected, disseminate essential public health messages to communities, and strengthen case finding and surveillance. Through the PAHAL project, the USAID will support the National Health Authority to establish a financing facility that can mobilize resources from the private sector to assist over 20,000 health facilities enrolled under Pradhan Mantri Jan Arogya Yojana (PM-JAY), India's health insurance scheme for 500 million poor and vulnerable people.

During the talks on April 04, Prime Minister Narendra Modi and US President Donald Trump had agreed to deploy the full strength of the India-US partnership to combat the coronavirus pandemic. Early this month, India, at the request of President Donald Trump, had exported 35.82 lakh tablets of hydroxychloroquine to the US along with active pharmaceutical ingredient or API required in the manufacturing of the drug.

Trump had thanked India for its decision to export hydroxychloroquine to fight coronavirus and lauded Prime Minister Modi for his "strong leadership" in helping "not just India, but humanity" in this fight.

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Coronavirus Lockdown: Six-year-old boy's drive-by, walk-by joke stand wins hearts online

A six-year-old boy has been cheering up his neighbours with one joke at a time amid the distressful Coronavirus pandemic and the agonizing lockdown that followed, by putting up a joke stand outside his home in Saanich, a town in Canada's British Colombia.

A picture of Callaghan McLaughlin, sitting at his 'Drive-by, walk-by joke stand' with a wide smile was shared by his mother Kelsea on Instagram, where he has earned praises for his adorable efforts to make people smile. His mother requests in the caption to listen to a joke from him.

According to the CBC, Callaghan only knows 16-17 jokes which he learned from a joke book his mother gave him, and with these jokes, he does the best he can to make people have a hearty laugh.  The mother-son duo missed interacting with their neighbours due to the lockdown and came up with this idea that helps people cheer up.

 
 
 
View this post on Instagram

Please drive by and hear a joke from this kid 🥰 . . . #driveby #walkby #kidhumour #togetheryetapart #cadborobay

A post shared by Kelsea Murray-Roxburgh (@kelseamclaughlin) onApr 14, 2020 at 9:00am PDT

The post shared on Instagram received 188 likes with many users lauding him for his adorable effort to bring a smile on the faces of people. One user said, "What a sweet thing to do. You are a blessing." Another user said, "This is actually amazing! Well done Callaghan." A user commented, "This is so precious."

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Coronavirus outbreak: Nearly half of global workforce faces threat of losing livelihoods

Almost 1.6 billion workers in the informal economy, nearly half of the global workforce, face an immediate danger of losing their livelihoods due to the continued sharp decline in working hours because of the COVID-19 outbreak, the International Labour Organisation (ILO) has said. Over 430 million enterprises in hard-hit sectors such as retail and manufacturing risk "serious disruption", the UN agency added. The findings appear in the ILO Monitor third edition released on Wednesday.

Globally, there are some 3.3 billion workers. Two billion have jobs in the informal economy, the most vulnerable workers in the labour market. ILO said 1.6 billion in the informal economy "have suffered massive damage to their capacity to earn a living" as a result of the economic meltdown triggered by the COVID-19 pandemic.

Due to lockdowns or because they work in hard-hit sectors, these workers globally have seen a 60 per cent drop in income during the first month of the crisis. This translates into a over 80 per cent decline in Africa and the Americas, 70 per cent in Europe and Central Asia, and 21.6 per cent in Asia and the Pacific, the ILO said.

The ILO called for "urgent, targeted and flexible measures" to support both workers and business, particularly smaller enterprises and those in the informal economy.

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Viral picture of a cat bringing sick kitten to hospital melts hearts online

In an incident that show motherly love is the same for every species on Earth, viral pictures of a worried cat in Turkey bringing her sick kitten to hospital for treatment shared on Twitter has made netizens emotional.

A Twitter user shared the pictures of the cat carrying the kitten with her mouth and walking into a hospital in Turkey. Another set of pictures shared by the user shows a team of doctors attending the cat and treating the kitten. The translation of the tweet originally in Turkish, reads, “Today in the hospital, a cat brought her baby in her mouth to the emergency room.” The post garnered more than 83,600 likes and was retweeted over 4,800 times.

The pictures were also tweeted by a official in the Indian Revenue Service, Naaved Trumboo, who tweeted, “As strange as it may seem, a cat walked into a hospital in Turkey seeking help for its sick kitten.” He also said in the tweet that mother’s love works in mysterious ways.

Here’s how the twitterati reacted:

What do you think about the post?

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Cute video alert! Dog adorably interrupts owner presenting weather report

In what appears to be an adorable working from home blunder, a video of a weatherman’s pet dog adorably interrupting his weather report has been making rounds of social media.

Meteorologist Paul Dellegatto was presenting the weather report from his home in Florida when his dog Brody entered the room, knocking into his computer and sat on his lap for a brief moment after which he went to find the cameraman, the New York Post reported.

Dellegatto can be heard playfully scolding Brody in the video saying, "This is not very smart," while the pooch begs him for some snacks and pets. Then after letting out a yawn, Brody runs off to look for the cameraman, who was filming the section from Dellegatto’s porch while maintaining social distance. He is heard saying, "Now he can't see Craig, so he's gone crazy trying to find Craig..."

The viral video posted by Andrew Fienberg on Twitter on Thursday managed to garner more than 3.4 million views with over 162,200 likes and was retweeted more than 35,700 times. The caption reads, "This is the best weather forecast in the history of television news."

Users commenting on the video resonated that this is the best content on Twitter right now, with some pointing out a cute-little detail in the video –a framed picture of Brody on Dellegatto’s desk.

What do you think about this video?

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Coronavirus Outbreak: Drivers stop to pick up spilled face masks, cause huge traffic jam

With the Coronavirus outbreak wreaking havoc across the globe with millions of people being infected and scores of lives claimed, government have made wearing face masks mandatory for people. The decision has made face masks a prized commodity for people.

Traffic in California came to brief halt after drivers had stopped to pick up face masks that were littered on the road. Although it is not clear how the masks ended up spilled on the highway, CBS reported that a man was spotted throwing boxes of masks on the road from a white truck.

The California Highway Patrol-Hayward posted pictures of the incident on their Facebook page where scores of masks were found lying on the southbound lanes of Interstate 880. “Multiple individuals stopped in lanes and stepped out of their vehicles to pick up masks,” read the post, adding that debris has been cleared and the lanes were opened.

The post also appealed drivers not to step out of their vehicle on an active freeway. Many users commenting on the post criticized the driver who reportedly threw the mask on the road, instead of donating it. One user said, “Just terrible! That person has no respect.” Another user said, “The highway does not have a need for medical masks. Therefore, I would have donated to an entity that did! A user said, “What a waste of something necessary now.”

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Undermining intel, Donald Trump claims he has proof virus is from Wuhan lab

US President Donald Trump on Thursday threatened new tariffs against Beijing as he claimed to have seen evidence linking the novel Coronavirus to a lab in China's ground-zero city of Wuhan. Trump's comments undercut a rare public statement from his own intelligence community on Thursday which stated no such assessment has been made by them whether the COVID-19 outbreak began through contact with infected animals or if it was the result of an accident at a laboratory in Wuhan.

'I have evidence'

At his daily White House briefing on COVID-19 on Thursday, Trump was asked by a reporter: "Have you seen anything at this point that gives you a high degree of confidence that the Wuhan Institute of Virology was the origin of this virus?" "Yes, I have. Yes, I have," Trump said. He, however, refused to provide any details, except for saying that investigations are on and it would be out soon.

Asked what gave him a high degree of confidence that the virus originated from the WIV, he said, "I can't tell you that. I'm not allowed to tell you that."

The Office of the Director of National Intelligence said on Thursday it concurs with the "wide scientific consensus" regarding COVID-19's natural origins. The US has 1,069,400 confirmed cases of COVID-19.

WHO blamed for pandemic

Trump also blamed the World Health Organisation for the pandemic. "I think the WHO should be ashamed of themselves because they're like the public relations agency for China," he said. Trump, however, did not hold his Chinese counterpart Xi Jinping responsible for the global outbreak.

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China accuses Australia of parroting US in its call for COVID-19 inquiry

China's warning of trade repercussions from Australia's campaign for an independent inquiry into COVID-19 has rattled Australian business leaders as President Donald Trump's administration urges other governments to back such a probe. China has accused Australia of parroting the US in its call for an inquiry independent of the World Health Organisation to determine the origins of COVID-19 and how the world responded to the emerging pandemic.

Chinese Ambassador Cheng Jingye used an Australian newspaper interview this week to warn that pursuing an inquiry could spark a Chinese consumer boycott of students and tourists visiting Australia as well as of sales of major exports including beef and wine. Australian Prime Minister Scott Morrison on Friday stood firm on his call for an inquiry and denied any motivation other than to prevent such a pandemic from happening again.

"I don't think anybody's in any fantasy land about where it started. It started in China. What the world over needs to know is how did it start and what are the lessons that can be learnt," Morrison said. "That needs to be done independently and why do we want to know that? Because it could happen again."

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Coronavirus outbreak: China reports only 1 new COVID-19 case

China, where the deadly coronavirus first emerged in December last, reported just one COVID-19 case, the National Health Commission (NHC) said on Saturday. The death toll remained at 4,633 with no new fatality. As of Friday, the total confirmed cases on the mainland were 82,875. As many as 77,685 patients have been recovered, the NHC said.

One new imported coronavirus case was reported on Friday with no new local infection, it said. China has reported a total of 1,671 imported COVID-19 cases, including seven in critical condition. The Hubei province and its capital Wuhan, the epicentre of the virus, have not reported any coronavirus case for 28 consecutive days since April 4, local health commission said on Saturday. Hubei also lowered its COVID-19 emergency response from the highest level to the second-highest on Saturday.

The lowering of the emergency level shows a major breakthrough in Hubei's prevention and control against the coronavirus, Hubei Vice-Governor Yang Yunyan told media. Meanwhile, 20 new asymptomatic cases were reported on Friday, taking the total number of such patients to 989. Asymptomatic cases refer to people who are tested COVID-19 positive but develop no symptoms such as fever, cough or sore throat. However, they pose a risk of spreading the disease to others.

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US FDA approves emergency use of Remdesivir for COVID-19 patients

The US food and drug regulatory body has allowed the emergency use of an investigational anti-viral vaccine to treat COVID-19 patients after some researches, including one led by an Indian-American physician, found that the drug helped recover some of the infected cases faster.

The Food and Drug Administration (FDA) gave emergency use authorisation (EUA) for the use of investigational anti-viral Remdesivir for the treatment of COVID-19 patients. "I'm pleased to announce that Gilead now has an EUA from the FDA for Remdesivir," US President Donald Trump told reporters at the White House on Friday.

Remdesivir is given to patients through a vein one time each day for up to 10 days depending on recommendations of healthcare providers. The US National Institute of Allergy and Infectious Diseases (NIAID) announced the results of a trial involving more than 1,000 people on Wednesday.

It found that hospitalised COVID-19 patients with respiratory distress got better quicker than those on a placebo. Specifically, patients on the drug had a 31 percent faster time to recovery. "Although the results were clearly positive from a statistically significant standpoint, they were modest," Anthony Fauci, the scientist who leads the NIAID, said. While not considered a miracle cure, Remdesivir's trial achieved a "proof of concept," according to Fauci that could pave the way for better treatments.

Possible side effects of Remdesivir include infusion-related reactions and increases in levels of liver enzymes. "These are not all the possible side effects of Remdesivir. It is still being studied so it is possible that all of the risks are not known at this time," said the FDA.

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Even COVID-19 couldn't stop this bride from visiting her grandmother on her wedding day!

In a touching gesture, a bride ensured her grandmother staying in an assisted home gets to be a part of her wedding by visiting her on her big day amid the Coronavirus scare. Shauna Varner from Minnesota stopped at nothing to involve her grandmother Janis Krueger in her wedding, even if it was from behind the glass door.

Varner and her fiancé Travis Scepaniak had planned a big wedding but had to call it off and smaller ceremony with a small number of guests due to the Coronavirus pandemic. As it was impossible to get Krueger out of the assisted home, Varner came up with an idea to get the administration there involved to help her.

The assisted home shared the heartfelt moment of  Varner making her bridal debut in front of Janice on their Facebook page, with the caption that read, “COVID-19 cannot stop true love.” The post, which concluded with the home conveying their wishes to the couple, also read that love radiated between the grandmother-granddaughter duo as soon as the bride got out of her car.

The post shared last week garnered more than 105680 views on Facebook with over 2,600 likes and was shared 531 times. Users commenting the video praised the bride’s gesture and conveyed their best wishes to the couple.

A user said, “This is so sweet that they would come to visit Grama and make her part of their special day! Congratulations to the happy couple and your families! Your dress is beautiful and the groom looks pretty good too!” Another user said, “How beautiful grandma could still participate ! Love has no boundaries ! Wonderful that the facility help make a dream come true!” One user said, “Wow!!! Goosebumps and tears! How very special!”

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European virus tracing apps put spotlight on privacy

The race by governments to develop mobile tracing apps to help contain infections after coronavirus lockdowns ease is focusing attention on privacy. The debate is especially urgent in Europe, which has been one of the hardest-hit regions in the world, with nearly 140,000 people killed by COVID-19. The use monitoring technology, however, may evoke bitter memories of massive surveillance by totalitarian authorities in much of the continent. The European Union has in recent years led the way globally to protect people's digital privacy, introducing strict laws for tech companies and web sites that collect personal information. Academics and civil liberties activists are now pushing for greater personal data protection in the new apps as well.

European authorities, under pressure to ease lockdown restrictions in place for months in some countries, want to make sure infections don't rise once confinements end. One method is to trace who infected people come into contact with and inform them of potential exposure so they can self-isolate. Traditional methods involving in-person interviews of patients are time consuming and labor intensive, so countries want an automated solution in the form of smartphone contact tracing apps. But there are fears that new tech tracking tools are a gateway to expanded surveillance. Intrusive digital tools employed by Asian governments that successfully contained their virus outbreaks won't withstand scrutiny in Europe.

Residents of the EU cherish their privacy rights so compulsory apps, like South Korea's, which alerts authorities if users leave their home, or location tracking wristbands, like those used by Hong Kong, just won't fly. The contact-tracing solution gaining the most attention involves using low energy Bluetooth signals on mobile phones to anonymously track users who come into extended contact with each other. Officials in western democracies say the apps must be voluntary. The battle in Europe has centered on competing systems for Bluetooth apps. One German-led project, Pan-European Privacy-Preserving Proximity Tracing, or PEPP-PT, which received early backing from 130 researchers, involves data uploaded to a central server.

However, some academics grew concerned about the project's risks and threw their support behind a competing Swiss-led project, Decentralized Privacy-Preserving Proximity Tracing, or DP3T. Privacy advocates support a decentralised system because anonymous data is kept only on devices. Some governments are backing the centralized model because it could provide more data to aid decisionmaking, but nearly 600 scientists from more than two dozen countries have signed an open letter warning this could, 'via mission creep, result in systems which would allow unprecedented surveillance of society at large.'

Apple and Google waded into the fray by backing the decentralized approach as they unveiled a joint effort to develop virus-fighting digital tools. The tech giants are releasing a software interface so public health agencies can integrate their apps with iPhone and Android operating systems, and plan to release their own apps later. The EU's executive Commission warned that a fragmented approach to tracing apps hurt the fight against the virus and called for coordination as it unveiled a digital 'toolbox' for member countries to build their apps with.

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China hid virus' severity to hoard supplies: US inte

US officials believe China covered up the extent of the COVID-19 outbreak — and how contagious the disease is — to stock up on medical supplies needed to respond to it, intelligence documents show. Chinese leaders "intentionally concealed the severity" of the pandemic from the world in early January, according to a four-page Department of Homeland Security (DHS) intelligence report dated May 1 and obtained by the AP.

Marked "for official use only," the DHS analysis states that, while downplaying the severity of the virus, China increased imports and decreased exports of medical supplies. It attempted to cover up doing so by "denying there were export restrictions and obfuscating and delaying provision of its trade data," the analysis states.

Hid details from WHO
The report also says China held off informing the World Health Organisation that the COVID-19 "was a contagion" for much of January so it could order medical supplies from abroad " and that its imports of face masks and surgical gowns and gloves increased sharply.

Those conclusions are based on the 95 per cent probability that China's changes in imports and export behaviour were not within normal range, according to the report. China publicly identified the pathogen as a novel Coronavirus on January 8.

Trump 'thinks' we'll have vaccine by year end

President Donald Trump says he believes a vaccine for COVID-19 will be available by the end of the year. Trump commented Sunday night during a televised town hall. "I think we'll have a vaccine by the end of the year. We'll have a vaccine much sooner rather than later," he said. Trump also increased his projection for the total US death toll to 1,00,000 — up by as much as 40,000 from what he had suggested just a few weeks ago. So far, over 67,000 have died in US.

'Remdesivir to be out by next week'

Antiviral drug Remdesivir, approved by the USFDA for emergency use to treat COVID-19 patients, is expected to be available by early next week, the CEO of Gilead Sciences, the pharmaceutical firm manufacturing the medicine has said.

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Coronavirus Outbreak: Australia's Qantas extends flight cancellations

Australian flag carrier, Qantas on Tuesday extended international flight cancellations till the end of July, but said that it was in a strong position to endure disruptions caused by the COVID-19 pandemic.

The company said that domestic flights would be cancelled till the end of June and international services until the end of July, adding that domestic and trans-Tasman services could be quickly reinstated should restrictions ease in coming weeks, reports Xinhua news agency.

"Australia has done an amazing job of flattening the curve and we're optimistic that domestic travel will start returning earlier than first thought, but we clearly won't be back to pre-coronavirus levels anytime soon," Group CEO Alan Joyce said.

"With the possible exception of New Zealand, international travel demand could take years to return to what it was."

The company, which includes budget branch Jetstar, also revealed it had secured a further A$550 million ($354 million) in debt funding, placing it in a stronger position to endure the COVID-19 crisis.

According to Qantas, by reducing expenditure and borrowing against its fleet of aircraft, the company could survive several recovery scenarios, including one where current travel restrictions persisted until December 2021.

The reduction in expenditure is largely due to the standing down of more than 25,000 staff who were forced to use leave entitlements before receiving delayed financial assistance from the government.

"The impact of this stand down is deeply regrettable but has been greatly softened by the Australian Government's JobKeeper program, which the Group commenced paying several weeks ahead of the official payment start date," the airline said in a statement.

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Vijay Mallya appeals to UK Supreme Court as last ditch effort to prevent extradition to India

As a last ditch effort to prevent his extradition to India, embattled liquor baron Vijay Mallya on Monday filed an application in UK Supreme Court to prevent implementation of an earlier order that made his return to India imminent.

The application came after a gap of almost two weeks after the London High Court on April 20 rejected a similar application and ordered his extradition to India to face enforcement authorities there in connection with a Rs 9,000 crore bank fraud and money laundering case involving his now defunct Kingfisher Airlines.

The UK Supreme Court is expected to hear the matter later this week. Legal experts said that if the application is rejected by Supreme Court as well, then UK Home Secretary would have to sign on Mallya's extradition papers within 28 days.

Mallya's application in Supreme Court came on the last day when such an appeal could be made in the top court. The 64-year-old businessman was given 14 days to file such an application against the order of High Court. The high court dismissed his appeal against a Westminster Magistrates' Court extradition order certified by the UK Home Secretary.

Legal experts quoted above said it is unlikely for Mallya to get a reprieve from Supreme Court as it would only look as constitutional issues and may not tamper with high court's order if other aspects are in order.

This should be music to the ears of enforcement agencies in India who have been waiting for a long time get hold of the fugitive businessman. The ED has attached several properties of Mallya in the last few years under sections of the Prevention of Money Laundering Act.

Mallya is being investigated by the CBI and the Enforcement Directorate in connection with the loan fraud case.

He was arrested by the UK authorities on April 20, 2017 on the request of the Indian investigative agencies.

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'Hepatitis C drugs may help fight virus'

Several drugs approved for the treatment of hepatitis C viral infection have been identified as potential candidates against COVID-19 caused by the SARS-CoV-2 coronavirus, according to a study based on extensive calculations using supercomputer simulations.

Researchers from Johannes Gutenberg University Mainz (JGU) in Germany simulated the way that about 42,000 different substances listed in open databases bind to certain proteins of SARS-CoV-2, and thereby inhibit the penetration of the virus into the human body or its multiplication. Using the powerful MOGON II supercomputer operated by JGU and the Helmholtz Institute Mainz, the researchers made more than 30 billion single calculations within two months.

They found that compounds from the four hepatitis C drugs simeprevir, paritaprevir, grazoprevir, and velpatasvir have a high affinity to bind SARS-CoV-2 very strongly and may therefore be able to prevent infection. "This computer simulation method is known as molecular docking and it has been recognised and used for years. It is much faster and less expensive than lab experiments," said Professor Thomas Efferth from JGU, lead author of the study published in the Bulletin of the World Health Organization. "As far as we know, we were the first to have used molecular docking with SARS-CoV-2. And it is fantastic news that we have found a number of approved hepatitis C drugs as promising candidates for treatment," Efferth said.

The results are also supported by the fact that both SARS-CoV-2 and the hepatitis C virus are a virus of the same type, a so-called single-stranded RNA virus, explained Efferth. According to the researchers, a natural substance from the Japanese honeysuckle (Lonicera japonica), which has been used in Asia against various other diseases for some time now, might be another strong candidate against SARS-CoV-2. "Our research results now need to be checked in laboratory experiments and clinical studies," said Efferth. Molecular docking had already been used successfully in the search for active substances against the coronaviruses MERS-CoV and SARS-CoV, he added.

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Israel's biological Institute completes development phase of COVID-19 antibody

Israeli Defence Minister Naftali Bennett on Monday said he witnessed a "significant breakthrough" by the country's biological research institute in developing an antibody to COVID-19 infection. Bennett visited the labs of the Israel Institute for Biological Research (IIBR), a secretive unit that works under the Prime Minister's Office, in Ness Ziona and was briefed by the research team, who revealed that the development phase of COVID-19 antibody or passive vaccine that attacks the virus and neutralizes it in the body has been complete, his office said in a statement cited by The Jerusalem Post.

IIBR is now working to patent its antibody and secure a contract for its commercial development. All legal procedures will be coordinated with the Defence Ministry. "I am proud of the Biological Institute staff, who have made a major breakthrough," Bennett was quoted as saying. "The Jewish creativity and ingenuity brought about this amazing achievement," he added.

Last month, IIBR announced that it had begun testing its antibody-based vaccine prototype on rodents. IIBR is also involved in plasma collection from people who have recovered from infection with the new coronavirus, in the hope that this might help research, the Post reported further.

A second Israeli research team, MigVax, has also reported that it is close to completing the first phase of development of a coronavirus vaccine. Last week, it secured a USD 12 million investment from OurCrowd to accelerate the path to clinical trials.

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Donald Trump thinks COVID-19 fight's over?

The Trump administration has initiated talks on winding down the White House Task Force on COVID-19 and gradually delegating its responsibilities to the relevant federal agencies, US Vice President Mike Pence said on Tuesday. Pence leads the task force.

"As I have said before, as we continue to practise social distancing and states engage in safe and responsible reopening plans, I truly believe — and the trend lines support it — that we could be in a very different place. And by late May and early June — and that probably represents the timetable for our agencies."

President Donald Trump also confirmed the news. Asked why is now the time to wind down the task force if there could be a recurrence, he said, "Because we cannot close our country down for the next five years. The administration has learned a lot." The president noted that health experts believe there could be a recurrence but they would need to "put it out". Over 71,000 Americans have died more than 12 lakh have been infected from COVID-19 so far.

Infection rate rising
Meanwhile, the infection rate outside of New York is rising even as states move to lift their lockdowns, an Associated Press analysis found Tuesday.

New confirmed infections per day in the US exceed 20,000, and deaths per day are well over 1,000, according to figures from Johns Hopkins University.

And public health officials warn that the failure to flatten the curve and drive down the infection rate in places could lead to perhaps tens of thousands of deaths as people are allowed to venture out and businesses reopen. "Make no mistakes: This virus is still circulating in our community, perhaps even more now than in previous weeks" said Linda Ochs, director of the Health Department in Shawnee County, Kansas.

HCQ warnings ignored
Fired vaccine expert Dr Rick Bright has alleged that the US ignored the concerns of doctors over the import of hydroxychloroquine from "uninspected" factories in India and Pakistan and flooded the US with the unproven and potentially dangerous drug to treat COVID-19 patients.

Italy claims to have made vaccine that neutralises COVID-19

Italian biotech firm Takis has claimed that they have developed a vaccine that neutralises COVID-19 in human cells. According to reports, the tests conducted on mice at Rome's Lazzaro Spallanzani National Institute for Infectious Diseases showed that the vaccine generated antibodies in mice that could work on human cells too. "This is the most advanced stage of testing of a candidate vaccine created in Italy. We believe this will also happen in humans," Takis CEO Luigi Aurisicchio said.

Pak becomes 29th country with over 500 COVID-19 deaths

With a surge in the number of COVID-19 cases and deaths in the past week, Pakistan has now become the 29th country in the world where over 500 deaths have been reported. The Executive Director of National Institute of Health (NIH), Maj Gen Prof Dr Aamer Ikram said things would start improving for Pakistan in June, Dawn reported. But as things stand, he said the total number of cases in Pakistan could go up to 1,50,000. Pakistan's cabinet has given a nod to relax the lockdown restrictions after May 9.

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UNICEF: At 20.1 million, India expected to have highest births since COVID-19 declared as pandemic

India is projected to record the highest number of births in the 9 months since COVID-19 was declared a pandemic in March, with more than 20 million babies expected to be born in the country between March and December, according to top UN body. The United Nations Children's Fund (UNICEF) warned that pregnant mothers and babies born during the pandemic across the world were threatened by strained health systems and disruptions in services. An estimated 116 million babies will be born under the shadow of COVID-19 pandemic, UNICEF said on Wednesday, ahead of Mother's Day, observed on May 10.

These babies are projected to be born up to 40 weeks after COVID-19 was recognised as a pandemic on March 11. The highest numbers of births in the 9 months since the pandemic was declared are expected to occur in India, where 20.1 million babies are projected to be born between March 11 and December 16. Other countries with the expected highest numbers of births during this period are China (13.5 million), Nigeria (6.4 million), Pakistan (5 million) and Indonesia (4 million), it said. "Most of these countries had high neonatal mortality rates even before the pandemic and may see these levels increase with COVID-19 conditions," UNICEF said.

It is estimated that there will be 24.1 million births in India for the January-December 2020 period. UNICEF warned that COVID-19 containment measures can disrupt life-saving health services such as childbirth care, putting millions of pregnant mothers and their babies at great risk. Even wealthier countries are affected by this crisis. In the US, the sixth highest country in terms of expected number of births, over 3.3 million babies are projected to be born between March 11 and December 16.
"New mothers and newborns will be greeted by harsh realities," UNICEF said, adding they include global containment measures such as lockdowns and curfews; health centres overwhelmed with response efforts; supply and equipment shortages; and a lack of sufficient skilled birth attendants as health workers, including midwives, are redeployed to treat COVID-19 patients.

"Millions of mothers all over the world embarked on a journey of parenthood in the world as it was. They now must prepare to bring a life into the world as it has become ¿ a world where expecting mothers are afraid to go to health centres for fear of getting infected, or missing out on emergency care due to strained health services and lockdowns," UNICEF Executive Director Henrietta Fore said. "It is hard to imagine how much the coronavirus pandemic has recast motherhood" Fore said.
UNICEF said its analysis was based on data from World Population Prospects 2019 of the UN Population Division.

An average full-term pregnancy typically lasts a complete 9 months, or 39 to 40 weeks. For the purposes of this estimate, the number of births for a 40-week period in 2020 was calculated. The 40-week period of March 11 to December 16 is used in this estimate based upon the WHO's March 11 assessment that COVID-19 can be characterised as a pandemic. UNICEF warned that although evidence suggests that pregnant mothers are not more affected by COVID-19 than others, countries need to ensure they still have access to antenatal, delivery and postnatal services.

Similarly, sick newborns need emergency services as they are at high risk of death. New families require support to start breastfeeding, and to get medicines, vaccines and nutrition to keep their babies healthy, it said. "This is a particularly poignant Mother's Day, as many families have been forced apart during the coronavirus pandemic, but it is also a time for unity, a time to bring everyone together in solidarity. We can help save lives by making sure that every pregnant mother receives the support she needs to give birth safely in the months to come," Fore said.

Issuing an urgent appeal to governments and health care providers to save lives in the coming months, UNICEF said efforts must be made to help pregnant women receive antenatal checkups, skilled delivery care, postnatal care services, and care related to COVID-19 as needed. Ensure health workers are provided with the necessary personal protective equipment and get priority testing and vaccination once a COVID-19 vaccine becomes available so that can deliver high quality care to all pregnant women and newborn babies during the pandemic, it said.

While it is not yet known whether the virus is transmitted from a mother to her baby during pregnancy and delivery, UNICEF advised all pregnant women to follow precautions to protect themselves from exposure to the virus. Closely monitor themselves for symptoms of COVID-19 and seek advice from the nearest designated facility if they have concerns or experience symptoms. Pregnant women should also take the same precautions to avoid COVID -19 infection as other people: practice physical distancing, avoid physical gatherings and use online health services, it said.

UNICEF said even before COVID-19 pandemic, an estimated 2.8 million pregnant women and newborns died every year, or 1 every 11 seconds, mostly of preventable causes.
The agency called for immediate investment in health workers with the right training, who are equipped with the right medicines to ensure every mother and newborn is cared for by a safe pair of hands to prevent and treat complications during pregnancy, delivery and birth.

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COVID-19: Premature opening will be a death sentence for people say experts

As Europe and the US loosen their lockdowns against the Coronavirus, health experts are expressing growing dread over what they say is an all-but-certain second wave of deaths and infections that could force governments to clamp back down.

'Risking a backslide'

"We are risking a backslide that will be intolerable," said Dr Ian Lipkin of Columbia University's Centre for Infection and Immunity. Around the world, German authorities began drawing up plans in case of a resurgence of the virus. Experts in Italy urged intensified efforts to identify new victims and trace their contacts. And France, which has not yet eased its lockdown, has already worked up a "re-confinement plan" in the event of a new wave.

"Typically pandemics occur in waves across different places, so people shouldn't think we are getting out of the woods just yet," the Guardian quoted Irwin Redlener, a physician and director of the National Centre for Disaster Preparedness, as saying.

US health officials worried

In the US, with about half of the states easing their shutdowns, public health authorities are worried. "If we relax these measures without having the proper public health safeguards in place, we can expect many more cases and, unfortunately, more deaths," said Josh Michaud, associate director of global health policy with the Kaiser Family Foundation in Washington.

Trump admin shelves CDC guide to reopen

A detailed report by the top Centers for Disease Control and Prevention investigators meant to give step-by-step advice to local leaders deciding when and how to reopen public places such as day care centers and restaurants during the still-raging pandemic has been shelved by the Trump administration. The report was supposed to be published last Friday, but agency scientists were told the guidance "would never see the light of day," said a CDC official.

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Coronavirus outbreak: Suspend H-1B visas for a year

Four top Republican senators have urged President Donald Trump to suspend all new guest worker visas for 60 days and certain categories of new guest worker visas, including the H-1B, for at least a year or until unemployment figures return to normal levels in the US amidst the coronavirus pandemic. The pandemic, which has so far claimed 76,000 lives and infected over 1,256,000 in the US, has ravaged the labour market, and 1 in 5 American workers have filed for first-time unemployment benefits since mid-March, when the lockdown hit businesses across the country, the world's largest economy.

1/5th workforce out of work

The letter to president Trump, dated May 7, has been signed by Senators Ted Cruz, Tom Cotton, Chuck Grassley and Josh Hawley. "More than 33 million Americans have filed for unemployment coverage just since mid-March, and approximately one-fifth of the American workforce is currently out of work. "This is a stunning difference compared with the historically-low nationwide unemployment rate of just 3.5 per cent in February this year," the senators said in their letter.

"To protect unemployed Americans in the early stages of economic recovery, we urge you to suspend all non-immigrant guest worker visas for the next 60 days," the senators said.

'Suspend EB-5 visa too'

"That suspension should, at a minimum, include H-2B visas (non-agricultural seasonal workers), H-1B visas (specialty occupation workers) and the Optional Practical Training programme (extension of foreign student visas after graduation). We also urge you to suspend the EB-5 immigrant visa programme, effective immediately," the lawmakers wrote. The H-1B work visa for foreign technology professionals is highly popular among Indians and a large number of Indians also opt for the EB-5 investors visa.

Worst monthly record

The US unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy.

The collapse of the job market has occurred with stunning speed. The government's report Friday noted that many people who lost jobs in April but didn't look for another one weren't even counted in the unemployment rate. The impact of those losses was reflected in the drop in the proportion of working-age Americans who have jobs: Just 51.3%, the lowest on record.

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Research Headlines - Neuro-rehabilitation to aid recovery of COVID-19 intensive care patients

[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.




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European Innovation Council - Top innovation leaders envisage a strong role for the European Innovation Council in coronavirus recovery

[Source: Research & Innovation] ‘For Europe to come out stronger after the Corona crisis, we need to already direct our investments towards game-changing innovations that create a sustainable and human centric digital future’, according to the vision statement of the European Innovation Council Advisory Board published today.




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Research Headlines - New microscope technology sharpens the focus on viruses

[Source: Research & Innovation] EU-funded researchers have employed quantum physics to develop an optical microscope that opens up the potential to view the tiniest of objects - including many viruses - directly for the first time.




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European Innovation Council - European Commission EUvsVirus Hackathon identifies 117 solutions to support European and global recovery from the coronavirus outbreak

[Source: Research & Innovation] A total of 117 innovative solutions to tackle the coronavirus have been selected as winners of the European Innovation Council-led #EUvsVirus Hackathon.




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European Innovation Council - Additional €150 million for the European Innovation Council to fund breakthrough ideas tackling coronavirus

[Source: Research & Innovation] The European Innovation Council (EIC) Accelerator Pilot will work with an extra €150 million to support game-changing innovations to tackle the coronavirus crisis. The additional budget, approved by the European Commission today, will fund the best start-ups and SMEs who applied under the March cut-off.




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Tax-News.com: India Adds BEPS Provisions To Qatar Tax Treaty

India has approved amendments to its double tax agreement with Qatar.




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Tax-News.com: Starbucks' Dutch Tax Ruling Vindicated By EU General Court

On the same day the Court ruled against Fiat's appeal, the EU General Court has decided that Starbucks was not in fact granted a selective tax advantage in a Dutch tax ruling, contrary to a European Commission conclusion.




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Tax-News.com: Netherlands Adopts COVID-19 Economic Relief Package

On March 17, 2020, the Dutch Ministry of Finance announced that the Government has adopted a package of measures intended to protect the economy from the coronavirus epidemic, including several tax changes.




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Tax-News.com: EU MEPs Back New Direction For Taxing Aviation's Emissions

Members of the European Parliament have preliminarily agreed to continue with the aviation industry's current treatment under the EU's emissions trading scheme to allow for the development of a new industry-specific carbon tax arrangement.




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Tax-News.com: Abolishing Aviation Tax Would Boost German Economy, Says Report

A new study by PwC has concluded that abolishing Germany's flight ticket tax would provide a substantial boost to the German economy.




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Tax-News.com: Fall-off Noted In German Environmental Tax Burden

Environmental tax revenue as a percentage of Germany's overall tax take has fallen to its lowest level in more than 20 years, according to the country's statistical agency.




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Tax-News.com: Netherlands Ponders New Aviation Tax

The Dutch Government has begun a public consultation exercise on plans to introduce a new tax on air travel by 2021.




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Tax-News.com: Indonesia To Seek VAT From Overseas E-Services Providers

Indonesia's Ministry of Finance is preparing a legislative response to ensure the collection of VAT on electronically supplied services to Indonesian consumers.




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Tax-News.com: Turkey Props Up Airlines Impacted By COVID-19 With VAT Relief

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.




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ECLERX SERVICES Plunges by 5%; BSE IT Index Up 0.7%

Posted by Equitymaster
      

ECLERX SERVICES share price has plunged 5% and is presently trading at Rs 474.

Meanwhile, the BSE IT Index is at 13,667 (up 0.7%).

Among the top losers in the BSE IT Index today are ECLERX SERVICES (down 5.1%) and CYIENT (down 10.0%).

TECH MAHINDRA (up 3.1%) and MINDTREE (up 2.3%) are among the top gainers today.

Over the last one year, ECLERX SERVICES has moved down from Rs 1,134 to Rs 474, registering a loss of Rs 660 (down 58.2%)..

The BSE IT has moved down from 15,682 to 13,667, loss of 2,015 points (down 12.8%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INFIBEAM AVENUES (up 15.5%) and NIIT TECHNOLOGIES (up 11.5%).

One Stock Crorepati: The Biggest Money-Making Opportunity Available Right Now

What About the Benchmark Indices?

The BSE Sensex is at 32,089 (up 0.9%). The top gainers among the BSE Sensex stocks today are HUL (up 4.3%). The most traded stocks in the BSE Sensex are ICICI BANK and RELIANCE IND..

In the meantime, NSE Nifty is at 9,383 (up 0.6%). HUL (up 4.4%) and DR. REDDYS LAB (up 4.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,277 to 32,089, registering a loss of 6,188 points (down 17.15%).

ECLERX SERVICES Financial Update...

ECLERX SERVICES net profit stood at Rs 701 million for the quarter ended December 2019, compared to a profit of Rs 390 million a year ago. Net Sales rose 5.0% to Rs 3.8 billion during the period as against Rs 3.6 billion in October-December 2018.

For the year ended March 2018, ECLERX SERVICES reported 24.1% decrease in net profit to Rs 2.7 billion compared to net profit of Rs 3.5 billion during FY17.

Revenue of the company grew 2.6% to Rs 14 billion during FY18.

The current Price to earnings ratio of ECLERX SERVICES, based on rolling 12 month earnings, stands at 7.9x.

This article (ECLERX SERVICES Plunges by 5%; BSE IT Index Up 0.7%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.




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NAVIN FLUORINE Plunges by 5%; BSE 500 Index Up 0.3%

Posted by Equitymaster
      

NAVIN FLUORINE share price has plunged 5% and is presently trading at Rs 1,532.

Meanwhile, the BSE 500 Index is at 12,146 (up 0.3%).

Among the top losers in the BSE 500 Index today are NAVIN FLUORINE (down 5.1%) and TIMKEN INDIA (down 5.2%).

E.I.D. PARRY (up 10.0%) and TV18 BROADCAST (up 7.1%) are among the top gainers today.

Over the last one year, NAVIN FLUORINE has moved up from Rs 684 to Rs 1,532, registering a gain of Rs 848 (up 124.0%)..

The BSE 500 has moved down from 14,958 to 12,146, loss of 2,812 points (down 18.8%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 434.2%), ABBOTT INDIA (up 142.3%) and NAVIN FLUORINE (up 107.8%).

One Stock Crorepati: The Biggest Money-Making Opportunity Available Right Now

What About the Benchmark Indices?

The BSE Sensex is at 32,089 (up 0.5%). The top gainers among the BSE Sensex stocks today are HUL (up 5.0%). The most traded stocks in the BSE Sensex are RELIANCE IND. and ONGC.

In the meantime, NSE Nifty is at 9,383 (up 0.5%). HUL (up 5.0%) and DR. REDDYS LAB (up 4.0%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,277 to 32,089, registering a loss of 6,188 points (down 17.44%).

NAVIN FLUORINE Financial Update...

NAVIN FLUORINE net profit stood at Rs 453 million for the quarter ended December 2019, compared to a profit of Rs 388 million a year ago. Net Sales rose 11.3% to Rs 2.5 billion during the period as against Rs 2.3 billion in October-December 2018.

For the year ended March 2019, NAVIN FLUORINE reported 19.2% decrease in net profit to Rs 1.5 billion compared to net profit of Rs 1.8 billion during FY18.

Revenue of the company grew 7.6% to Rs 10 billion during FY19.

The current Price to earnings ratio of NAVIN FLUORINE, based on rolling 12 month earnings, stands at 8.4x.

This article (NAVIN FLUORINE Plunges by 5%; BSE 500 Index Up 0.3%) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.




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Tax-News.com: SARS Sets Out Expectations On Virtual Currency Tax Compliance

The South African Revenue Service on April 6, 2018, warned taxpayers that they are expected to declare cryptocurrency gains or losses in calculating their taxable income.




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Tax-News.com: OECD Urges International Tax Reform Of Savings, Investments

"While countries do not necessarily need to tax savings more, there is a lot of room to improve the way countries tax savings," according to Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration.




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Tax-News.com: South Africa Launches VAT Zero Rate Review

Having increased the headline value-added tax rate to 15 percent from 14 percent on April 1, South Africa has appointed a panel to consider a review of the list of food items subject to the zero rate.




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Tax-News.com: South Africa Invites Comment On VAT Zero-Rate Review

South Africa's National Treasury is inviting the public to contribute to a review of the list of items zero-rated for value-added tax purposes.




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Coronavirus vaccine update: List of countries that are closest to finding a treatment

Coronavirus vaccine: World leaders and organisations, except the United States, have already pledged $8 billion to research, manufacture and distribute a possible vaccine and treatments for COVID-19 apart from the individual efforts taken by the countries and its pharmaceutical firms




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Coronavirus impact: Smartphone shipments to dip 48% in June quarter

COVID-19 will lead to fundamental, and possibly, permanent behavioural changes in the way people shop, consume media and how they regard the brands they do business with, said Prabhu Ram of CMR




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Coronavirus: WHO plans to launch app to check COVID symptoms, contact tracing

Engineers have done preliminary work and talked to smartphone operating system makers Apple Inc and Google about possibly adopting technology the companies plan to release jointly this month to make tracing easier