Franklin fiasco will not have any bearing on other mutual funds: Nilesh Shah

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Engineers, information technology employees, some HR roles, consultants, knowledge workers can work from home but it might be hard for those working in finance, insurance and companies ad that have proprietary applications.

How will the sudden plunge in US oil prices impact India: WTI crash explained

To become a smart business, organizations must enable as many operating decisions as possible to be made by machines fueled by live data rather than by humans supported by their own data analysis.

Jaishankar, while interacting with NRIs in Australia, Surinam, the US, Singapore, Quatar, Malaysia, the UK and Mauritius through video conferencing on the occasion of Pravasi Bharatiya Divas, also said he would find a practical solution to the issue of tracing of roots for non-resident Indians (NRIs) and persons of Indian origin (PIOs).

Millions of migrant workers toiling in the Gulf countries are facing a crisis due to Covid-19 and the fall in oil prices.

Cement is a perfect barometer to gauge economic activity. On May 5, a day after India began a graded opening up in its fight against the scourge of the novel coronavirus, economic activity could be tracked by the movement of rakes carrying cement: 7 out of every 10 trains were chugging towards green and orange zones, bypassing the prosperous districts in the red zone.The government, by then, had colour-coded all 733 districts in the country. The 130 districts that were the worst affected by Covid-19 were in the red zone. Suddenly, the country’s biggest and most vital commercial hubs such as Mumbai, Delhi, Pune, Ahmedabad and Chennai were hotspots. The virus-free 319 districts were coded green and the rest 284 districts, which were only moderately affected, were called orange. The many guidelines issued by the Ministry of Home Affairs, state chief secretaries and even resident welfare societies boiled down to the same thing — the harshest lockdown will be in the red zone, there will be partial relaxation in orange zones while green will be opened up, albeit with conditions.Cement movement is a good measure of economic activity on the ground as it is often ferried straight to project sites. When the nationwide lockdown began on March 25, all non-essential work, including construction, came to a grinding halt. And the rakes carrying cement stopped running. 75649505The railway data, previewed by ET Magazine, shows that 254 trains carrying cement were on the move on May 5 when Lockdown 3.0 began: 84 of them were travelling towards green zones, 99 to orange and only 71 to red.India in Numbers- Source: McKinsey (% of population- 2011 census)Total Districts in India: 733GREEN ZONE- 319 Districts- 24 per cent populationORANGE ZONE- 284 Districts- 43 per cent populationRED ZONE- 130 Districts- 33 per cent population49-57% Economic activity during the lockdown 41% Red districts’ share of economic activities 50% Share of red districts in households with annual disposable income of over Rs 4.85 lakh 143 mn Minimum number of inactive non-farm workers during lockdown (Note: Green districts are Covid-free for previous 21 days; red and orange zones are identified on the basis of positive cases, doubling rate, testing, etc.)The colour-coded division and lockdown of India raises three big questions. One, are the green and orange zones robust enough to fire up the nation’s $2.7 trillion economy? Two, can the lockdown in the red zones be stretched beyond May 17 even as the number of Covid-19 cases in the country jump to about 60,000 on Saturday morning, with almost all of the new active cases coming from the red districts? Three, if the lockdown is prolonged in the metropolises, have we calculated the impact on the economy? In essence, how should India navigate a health emergency and an economic crisis — both unprecedented in its nature and magnitude? 75649443Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council, resorts to Greek mythology to explain the dilemma India is in and the possible way out for it. Homer’s hero Odysseus, Debroy says, chose to sail closer to the sea beast Scylla and lose a few sailors, rather than lose his entire ship by travelling near the monstrous whirlpool Charybdis. In Debroy’s telling, the sea monster Scylla is the Covid pandemic and Charybdis is the economic toll. (See the column, “The Ship Inches a Little Away From Whirlpool”).That Greek myth could be a clue to what the Indian government is likely to do after May 17: lift the clampdown on entire districts and impose severe restrictions only on containment zones; kick-start the economy even as Covid cases and the death toll rise alongside. Says Debroy: “Mortality and morbidity apply to enterprises too; MSMEs more pronounced than most. The baseline GDP growth was already in slowdown mode and a capital crunch was compounded by lockdown’s labour constraint. There were both supply and demand shocks. That Scylla/Charybdis metaphor is apt, because Homer’s account tells us what Odysseus did.” 75649534“All the big cities are in red zones. Even if a factory opens in orange or green zone, who will it produce for? Red zones cannot turn orange quickly. So will you not allow the sale of nonessential items in red zones?” Arvind Mediratta, MD & CEO, Metro Cash & Carry.The worry about the nation’s economic health is palpable. If the lockdown continues in the commercial hubs any longer, the losses will pile up for many companies; the smaller firms likely to go under first. It will have a debilitating effect on the economy in general and jobs in particular. The Indian economy would be on the ventilator then.As those cement-carrying rakes show, there are many factories in orange and green zones as well, miles away from city limits. Work can begin there, and some have already started production. 75649555“There is total disruption. Supply chains are badly affected. Liquidity is a big issue. The govt must announce a stimulus package. I also urge the govt to stop the imports of all products that can be made in India” Gautam Singhania, CMD, RaymondBut the million-rupee question is, who are they producing for? The 130 districts in the red zone are critical centres of not just production but also consumption. Even as they account for 41% of national economic activity, 38% of industrial output and 40% of non-farm employment, they also have half of India’s consuming-class households — those with an annual disposable income of more than Rs 4.85 lakh each — according to a recent McKinsey report titled “Reopening India: Implications for Economic Activity and Workers”.Breaking the Value ChainFurthermore, dividing swathes of the country into zones and restricting movement of goods and people will have a disastrous effect on production, labour, supply and distribution chains, which are deeply intertwined. In the textiles sector, for example, if cotton is bought in the western parts of India, yarn is spun in the north and west, while weaving mostly takes place in the south, and apparel is manufactured in clusters in the north and south, as the McKinsey report further points out. Similarly, in the chemical industry, the acetic acid value chain supplies to a variety of industries such as pharmaceuticals, pesticides, paper, food processing and construction. Any blockage will have a ripple effect on sectors.Arvind Mediratta, managing director and CEO of Metro Cash and Carry, says dividing the country into colour-coded districts is unrealistic and the rules guiding it are arbitrary. “It seems those who designed it (colour-coded zones) are not aware of ground realities. All the big cities are in red zones. Even if a factory opens in orange or green zone, who will it produce for? Also, the implementation on the ground is arbitrary. In red zones today, you can buy liquor but not kitchen items,” says Mediratta.Mohit Anand, managing director of Kellogg, South Asia, says solutions have to be found locally. “Each region has its own issues, each warehouse and factory has a different problem. India is like 21 countries put together and, hence, the solutions also have to be hyperlocal in nature,” he says. In red zones, not only are malls and market places shut but ecommerce firms are barred from selling non-essential items. An Amazon spokesperson says when restrictions were lifted, the company saw a huge demand from orange and green zones for smart devices, kitchen appliances, baby clothes and products related to study-from-home. “The opening up of these areas for ecommerce has meant that thousands of small businesses received orders for the first time in the past many weeks of lockdown,” the spokesperson adds. Consumers and businesses in the red zone, meanwhile, have to wait. 75649590“MMCAS (manufacturing, mining, construction and allied services) constitutes about 50% of GVA and about 35% of employment. This segment must be freed up, even in red zones” Arvind Virmani, Former chief economic adviser.Out of WorkThe lockdown has seen a massive reverse migration of workers. Deprived of work and wages for weeks, hundreds of thousands of labourers have left cities. In sheer desperation, many hid in trucks and freight trains and trudged hundreds of kilometres to reach home. It was only after 40 days of lockdown that the government arranged special trains for them— by Saturday, 302 trains have ferried around 3.4 lakh migrant workers to their native states.Some states are worried about reverse migration at a time when factories are reopening and life in green pockets are returning to normalcy. Karnataka even made an abortive attempt to stop such special trains to stonewall the return of migrant labourers. Rajasthan Deputy Chief Minister Sachin Pilot says workers should be persuaded to stay back. He says: “There is a cost to the migrants’ travelling back to their native districts. Once a worker goes home, she won’t return in the next three-four months. I feel that only those who are desperate and determined to return home should go; the rest should stay back, taking temporary jobs. They won’t be gainfully employed in their native areas.” The loss of workforce will particularly affect states such as Maharashtra, Delhi, Andhra Pradesh, Telangana, Karnataka and Kerala that rely heavily on migrant workers in construction and services sectors. 75649620“After Covid-19 there will be new normals: new models of engagement between companies and their clients” Keshav Murugesh, Group CEO, WNS Global ServicesMontek Singh Ahluwalia, former deputy chairman of the Planning Commission, says labourers will not return to cities anytime soon, and it will be one of the factors that will prolong the economic pain. He says green and orange zones cannot help in economic revival “as 60% of the economy is in the red zone”. Even if restrictions in all the zones are lifted, he says, it will take some more time for economic activity to get back to normal. “The reverse migration that has taken place may not be quickly reversed. Recession in the world economy and reduced level of remittances will have a negative impact. Private sector investment plans which have been interrupted will take time to resume. That is why many analysts are predicting that we may see negative growth in 2021, with recovery beginning only next year,” Ahluwalia adds.In this pervasive gloom, some indicators offer flickers of hope. Bengaluru-based trucking platform BlackBuck has seen a spike in bookings on the back of a good harvest. The agri pickup is likely to continue into the kharif season, with the India Meteorological Department forecasting a good monsoon. Cofounder Rajesh Yabaji says: “We have seen 80,000 bookings since we opened up our commission-free platform in April-end. Now, we estimate truck traffic to be at 50% of pre-lockdown trucking movement.”On April 29 and 30, two freight trains originating from Karnataka ferried about 350 new tractors to Rajasthan and Gujarat, responding to demand in western India ahead of the kharif season.Companies are ramping up production of agri-related items to meet seasonal demand from rural India. Hemant Sikka, president, farm equipment sector, Mahindra & Mahindra, says the company has resumed production in its tractor plants in Rudrapur (Uttarakhand), Nagpur (Maharashtra) and Mohali (Punjab) after getting necessary approvals. 75649661“With dealerships opening up, bounty harvest and forecast of a normal monsoon, the tractor industry will perform well” Hemant Sikka, President, farm equipment sector, Mahindra & Mahindra.“The highest levels of safety protocols and social distancing are being ensured at the plants, especially on the shop floor. With dealerships gradually opening up, a bounty harvest and forecast of a normal monsoon, I am positive that the tractor industry will perform well and ensure rural growth and prosperity during the year,” says Sikka.Farming sector is likely to get a boost this year with labourers who are back from the cities lending a hand on the fields. The number of people engaged in work under NREGA (National Rural Employment Guarantee Act) has swelled multiple times. In Rajasthan, as against 62,000 NREGA workers on April 18, there were 16.5 lakh on May 5. All of them are engaged in their own farmland, receiving Rs 220 daily from the government.While agriculture could be a sector to watch out for in the coming months, the Covid-19 crisis will inflict a body blow to sectors such as hospitality and tourism, which are likely to remain dormant for quite some time even after the lockdown is lifted. 75649456After Covid The post-Covid world will be vastly different from the before-Covid universe we have left behind. Keshav Murugesh, group CEO of WNS Global Services and former chairman of Nasscom, says there will be “new normals”. Clients and BPO companies will come up with ingenious models of engagement. Work from home could become the norm even if it leads to productivity loss. “At WNS, we are in no hurry to go back to office in May although work from home would mean productivity would drop to 85%,” says Murugesh, adding that uninterrupted power supply at homes is essential for making the model a success in the longer term.Saugata Gupta, managing director of consumer goods company Marico, says they are strategising on new pricing to sell their products effectively in a post-Covid environment. “We have to be cognisant of the fact that with mounting pressure on consumers’ disposable income, there will be a risk of downtrading. So, one has to be very careful on pricing, and we have to ensure a good value to consumers. Any gains on input costs need to be passed on to consumers,” says Gupta, adding that the opening up of green zones is good news for them as many of their products are popular in rural markets. 75649645“Each region has its own problems. India is like 21 countries put together, and solutions also have to be hyperlocal in nature” Mohit Anand, MD, Kellogg, South AsiaGautam Singhania, chairman and MD of Raymond, says there seems to be a communication gap between the Centre and states. He says: “There is total disruption. The supply chains are badly affected. Liquidity is a big issue and banks are not willing to pump in cash now. It is high time the government took this up, and announced a stimulus package.” He proposes a ban on imports. “For one year, we should follow the motto of buying only Indian products. I urge the government to stop imports of products that can be made in India. This is a question of survival.”India Inc, by and large, has come to terms with the new reality that till a vaccine for Covid-19 is discovered, the companies will be forced to shed some productivity by allowing employees to work from home and by deploying fewer labourers to ensure social distancing.The government, however, cannot remain in stasis till a vaccine is discovered. It has to take a call on whether a blanket ban on economic activities in red districts is the way forward. Former chief economic adviser Arvind Virmani says economic activities should be allowed in red zones. “We estimate that MMCAS (manufacturing, mining, construction and allied services) constitutes about 50% of GVA (gross value added) and about 35% of employment. This segment of economy must be freed up entirely, even in red zones, with restrictions such as physical distancing,” he says.The virus is not going away anytime soon. The hastily drawn colour codes will have to be smudged away now. Otherwise, an economic contagion will be upon us.Read More1. Our first objective is to provide value to customers: Saugata Gupta, MD, Marico2.Economy likely to show negative growth in current year: Montek Singh Ahluwali3. Rajasthan’s thrust will be on textile, agriculture and domestic tourism: Sachin Pilot4. With a phased opening, India tries to avoid a grave economic toll: Bibek Debroy

People have a lot of misconceptions about what has been promised. Keep these things in mind when you make financial decisions basis the announcements in the relief package.

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Indian-American NASA astronaut Sunita Williams has advised Indian students stranded in the US due to the coronavirus-linked global travel restrictions to use the occasion to think how they could be a productive and positive addition to the society.

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The real economic activities in Rajasthan are taking place in the rural areas. On April 18, we had 62,000 NREGA (National Rural Employment Guarantee Act) workers; on May 5 the number jumped to 16.5 lakh, said Pilot.

The guidelines mandate companies to strictly observe the social distancing protocol, including restricting the number of people in a lift, providing health insurance to workers and random testing for Covid-19.

“I have been trying for the last two years to pursue the scrappage policy. I have asked the Secretary (ministry of road transport and highways) to expedite the scrappage policy. Because this will help reduce production cost,” Gadkari said in an interaction with SIAM Institute on Thursday.

The postponed Tokyo 2020 Olympics will be cancelled if the coronavirus pandemic isn't brought under control by next year, the organising committee's president said in comments published Tuesday.

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Santa Anita Park officials are hoping to get word early this week from the Los Angeles County Board of Supervisors and the county's Department of Public of Health on whether racing can resume at the Arcadia, Calif., track. Belinda Stronach, whose family's company owns Santa Anita, and Aidan Butler, the executive director of California Racing […]

The post Santa Anita Hoping On-Site ‘Jockey Colony,’ Other COVID-19 Protocols Will Lead To Racing Resumption appeared first on Horse Racing News | Paulick Report.

Trainer Luis Carvajal, Jr. was disappointed when veterinarians scratched Imperial Hint on the morning of the Breeders' Cup Sprint, and told horseracingnation.com that despite the horse's “Win and You're In” paying the entry fees, there were other expenses related to traveling to Santa Anita which placed a strain on his 15-horse operation. Vets scratched the 6-year-old […]

The post Carvajal Believes Imperial Hint ‘Was 100 Percent Right’ When Scratched By Vets, Will Run Next Year appeared first on Horse Racing News | Paulick Report.

Following an upset victory in the Grade 1 Breeders' Cup Dirt Mile, Spun to Run is likely for the Grade 1, $750,000 Cigar Mile on December 7 at Aqueduct Racetrack. Trained by Juan Carlos Guererro and owned by Robert Donaldson, the sophomore son of Hard Spun set the pace in the Dirt Mile at Santa […]

The post Spun To Run ‘Recouped Quickly’ After Breeders’ Cup Win, Will Point To Cigar Mile appeared first on Horse Racing News | Paulick Report.

Haras Phillipson's 3-year-old homebred Nao Da Mais (BRZ), a three-time Group 1 winner in Brazil, was sent to Argentina and made his biggest career score on Saturday, going wire to wire under jockey Carlos Lavor and holding off the favored Mirinaque (ARG), to win the 1 ½-mile Gran Premio International Carlos Pellegrini (G1) by three-quarters […]

The post Nao Da Mais Will Target Breeders’ Cup Turf After ‘Win And You’re In’ Score In Argentina appeared first on Horse Racing News | Paulick Report.

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Allied Racing Stable LLC's By My Standards, after securing a stalking position from post 12, overhauled front-running Warrior's Charge in midstretch to win the 1 1/8-mile Oaklawn Handicap by 1 ¾ lengths under Gabriel Saez on Saturday. By My Standards (3 for 3 this year) was exiting a three-length score in the $400,000 New Orleans […]

The post Oaklawn Handicap Winner By My Standards Will Target Breeders’ Cup Classic appeared first on Horse Racing News | Paulick Report.

Social distancing could only last so long when Chester Thomas' By My Standards won Saturday's $600,000 Oaklawn Handicap by 1 3/4 lengths over Warrior's Charge. Thomas, the Madisonville, Ky., entrepreneur who races in the named of Allied Racing, and wife Jennifer had one of their sons and daughter in law and another couple over to […]

The post ‘Filled Out,’ ‘Stronger’ By My Standards Will Target Stephen Foster On June 27 appeared first on Horse Racing News | Paulick Report.

Trainer Mark Casse believes the performance by Gary Barber's War of Will in the 2018 Breeders' Cup Juvenile Turf (G1) may have been good enough to win had he gotten a better trip War of Will's fifth-place finish, though, turned to be a blessing in disguise. “He could have easily won the Breeders' Cup. If […]

The post War Of Will Back On Turf For Saturday’s Sunshine Forever Stakes At Gulfstream appeared first on Horse Racing News | Paulick Report.

TVG, America's horse racing network, will partner with NBC Sports to bring live horse racing into the homes of fans across the country for the seventh consecutive weekend with twelve hours of coverage scheduled from Friday, May 8th through Sunday, May 10th from 4:00 p.m. ET to 8:00 p.m. ET each day. The coverage will […]

The post Preakness Winner War Of Will Highlights TVG’s Weekend Coverage appeared first on Horse Racing News | Paulick Report.

Phillips, William "Bill" May 18, 1928 - May 6, 2020 William "Bill" Phillips (age 91) passed away peacefully to be with his Lord and .....

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A new exhibit is on display at Williams’ historic train depot; and the eye-catching photographs were all taken by Arizona youth.  https://www.nps.gov/grca/learn/news/2009-12-18_photos.htm

https://www.nps.gov/grca/learn/news/grand-canyon-national-park-will-offer-free-shuttle-service-between-the-gateway-community-of-tusayan-and-the-grand-canyon-visitor-center-again-this-year.htm

Grand Canyon National Park has begun improvements to Cape Royal Road on the North Rim. Beginning September 3, 2013 Cape Royal Road from Roosevelt Point to Cape Royal Point, at approximately mile 11.5, will be closed for repaving. Vehicles over 20 feet in length will not be permitted on Cape Royal Road for the duration of construction. https://www.nps.gov/grca/learn/news/updated-road-improvements-to-temporarily-close-portion-of-cape-royal-road-on-the-north-rim-of-grand-canyon-national-park.htm

On Wednesday, November 9, Grand Canyon National Park will host a Native American Indian Heritage Celebration and will waive entrance fees on Veterans Day. https://www.nps.gov/grca/learn/news/2016-native-heritage-and-veterans-day.htm

North Rim operations will begin seasonal shut-down of most visitor services on Sunday, October 15. https://www.nps.gov/grca/learn/news/north-rim-to-close.htm

After several weeks of pipeline breaks and water restrictions, water in storage on the South Rim of Grand Canyon has reached sustainable levels. Park operations will return to and stay at Level 1 water conservation measures. https://www.nps.gov/grca/learn/news/level-1-water.htm

Due to a malfunction in the pump that supplies water to the North Rim of Grand Canyon, the North Rim will enter Level 2 water restrictions on Monday, June 18, 2018. https://www.nps.gov/grca/learn/news/north-rim-level-2-water-restrictions.htm

Grand Canyon National Park Will Ease North Rim Water Restrictions https://www.nps.gov/grca/learn/news/north-rim-water-restrictions.htm

Governor Gavin Newsom has announced an exciting new plan in California to bring three nutritious meals a day to seniors in need, while providing meaningful work to those who have lost their jobs due to the coronavirus pandemic. The first program of its kind in the nation, ‘Great Plates Delivered’ will support struggling restaurants to […]

The post California Will Start Paying Restaurants To Deliver Food to Seniors in Need appeared first on Good News Network.

How to make a scrumptious afternoon tea at home quickly, easily and on a shoestring