An EU-funded project has linked scientists with experts in industry to forge partnerships aimed at creating new products to improve the lives of people with dementia. The research is creating tools to help remind people with dementia to undertake the tasks critical to their daily lives.

An EU-funded project is enabling efficient intra-chip and chip-to-chip communication via a new type of silicon capable of emitting light. It is demonstrating a technological breakthrough that could revolutionise the electronics industry and make devices faster and much more energy efficient.

If it is CK Vineeth responding to the COVID-19 helpline in Kerala, his Indian teammate Subhashish Bose has taken it upon himself to feed the homeless and jobless in his home town Subhasgram in South 24 parganas. Amid the nationwide lockdown, a long queue could be seen every morning at Subhasgram comprising of local rickshaw pullers, daily wage earners or small time hawkers who come to collect their daily ration. Bose, a member of the 'Blue Tigers' would be at the other end, happily distributing packets containing rice, pulses, potatoes, onions and other staple food items. This is his way of paying back to the society. "The rickshaw pullers who have so many times offered me free rides to-and-fro to local matches, that local vendor and shopkeeper who had gifted me so many free packets of food after heart-warming performances -- I felt I needed to pay them back," the India left-back told PTI of his daily regime since Friday.

"It was such a satisfaction to hand over some food items to lot many known faces whom I have known in my locality over my upbringing." India had imposed a nationwide lockdown since March 24 to curb the spread of COVID-19 pandemic and the worst-hit were people from the lower strata of the society whose life revolve around their daily wages. One fine morning, the 24-year-old felt restless and was awakened by the Swami Vivekananda's soul-stirring words 'Arise, Awake, And Stop Not Till the Goal is Reached!' "It kept on reverberating between my ears. My conscience did not allow me to shy away -- rather it kept on pushing me to give it back to the society where I have grown up."

"Somewhere down the line, however, I felt restless. It's understandable that even as we need to Stay Home Stay Safe, there have been so many brave hearts who have cared less for their lives, and are out to serve the country in this troubled time -- the doctors, nurses, cleaners, police, journalists, etc. It's not only the frontline workers, who are put their lives on line but citizens need to do their bit, reckons Bose. "But are they enough? Can we all just sit back on our cosy rooms, and expect the privilege of others keeping us safe? Don't we need more volunteers? And eventually, I had to move out -- not for fun, not to have a roam, but try to lend a helping hand," he said. He is thankfu to GOd that he has made a decent living as a footballer playing in the cash-ruch Indian Super League and for the Indian team. "God is kind, that today I am able to help them. Thank you, Lord for providing me with the strength. All of that was done by maintaining social distancing, and proper protection.

"All of them whom I handed over packets wanted to hug me but couldn't because of the social distancing. "Some of them had tears in their eyes. Their hugs can wait as we need nrmalcy to return. Till then stay home, and stay safe," he added. The Mumbai City FC defender was looking forward to the Indian camp when the pandemic halted all sporting activities. "A longer camp for the national team was planned and we were forward to it. But under current circumstances all sporting action around the world has been postponed." Asked whether he's missing the game, he replied: "Human lives are of utmost importance, and like everyone around us, I look forward for normalcy to return soon." The defender however regrets that he's not able to go out for runs so he's making the best use of the time at his private gym. "I cannot go out for my runs. So I am trying to keep myself as much fit as possible indoors. I try to sweat out at least two hours a day in my personal gym so that I stay in proper shape when the season resumes. "There is also monitoring from the medical staff, and we need to strict to the regimes provided," he concluded.

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FIFA president Gianni Infantino is suspected of having intervened with Switzerland's attorney general to try to get an investigation dropped, a Swiss newspaper alleged on Monday. The Office of the Attorney General (OAG) launched an investigation in 2016, shortly after Infantino was elected president of world football's governing body, about his awarding of a TV rights contract to an offshore company in his previous role as UEFA's legal affairs director.

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According to the Tribune de Geneve newspaper, Infantino was worried about this investigation and wrote to his childhood friend, Rinaldo Arnold, who had become a senior prosecutor in Switzerland's Haut-Valais region where they grew up. "I will try to explain to the OAG that it is in my interests that everything should be cleared up as soon as possible, that it be clearly stated that I have nothing to do with this matter," he wrote in an email cited by the newspaper. Arnold, who had helped to set up a first meeting between Infantino and Attorney General Michael Lauber, replied: "What is important is the meeting in two weeks' time. If you like, I can come with you again."

The meeting took place on April 22, 2016, the newspaper said, adding that what happened during it remains a mystery, and the OAG "refuses to speak about it". The OAG declined to comment when contacted by AFP. FIFA said later on Monday "the email referred to in the article was obviously obtained by hacking, which is an illegal and criminal act."

'No reason to lie'

"Not only Mr Infantino had no reason to lie in that email, the email never said Mr Infantino wanted to 'clear his name'," FIFA added. The Zurich-based federation has always indicated that the meetings between Infantino and the OAG were intended to show that FIFA was ready to engage with the Swiss justice system.

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Manchester City's Brazilian footballer Gabriel Jesus is doing his best to help his country during the COVID-19 pandemic. Gabriel has donated three tonnes of food to the poor in Brazil's notorious favelas from where he emerged as a footballer. He recently arranged for 400 food baskets to be delivered to Sao Paulo's Jardim Peri neighbourhood where he grew up.

The player has also got together with famous Brazilian singer Beto for a song that has been uploaded on YouTube to raise funds.

Gabriel, 23, has reportedly helped raised £370,000 (approx Rs 3.7 crore) alongwith fellow footballers to help some 32,000 families with relief material. Back in Brazil, when he played for Palmeiras as a teenager, Gabriel, then 17, earned around £3,500 a year (approx R3 lakh) before he went on to bag a whopping £75,000-a-week (approx Rs 67 lakh) contract with Manchester City in 2016.

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Unnerving movements for debt mutual funds investors!

Just last week my colleague, Divya explained the fiasco at Franklin Templeton Mutual Fund, which took a decision to abruptly wind down six debt mutual fund schemes, namely:

• Franklin India Low Duration Fund
• Franklin India Dynamic Accrual Fund
• Franklin India Credit Risk Fund
• Franklin India Short Term Income Plan
• Franklin India Ultra Short Bond Fund
• Franklin India Income Opportunities Fund

In all, the above debt mutual fund schemes had an AUM of Rs 30,854 crore as of March 31, 2020.

The fund house cited, "severe market dislocation and illiquidity in the fixed income space" caused by the COVID-19 pandemic, as the reason behind the decision.

Investors in these schemes are now left in the lurch: they cannot sell (nor buy) these funds and will have to rely on the fund house to get back their hard-earned money. Investors will have to hold their investments in these schemes until liquidity is available to the mutual fund house by either selling securities in the fund's portfolio or receiving maturity proceeds.

Currently, a fact is, not just Franklin Templeton Mutual Fund, but debt mutual fund schemes of many other fund houses are have a remarkable exposure to stressed assets.

According to portfolios disclosed on March 31, 2020, mutual funds collectively held Rs 1.38 trillion of exposure to debt securities issued by Non-Banking Financial Companies (NBFCs). Approximately Rs 51,000 crore of the exposure in debt securities has a maturity profile of less than 3 months; and now, mutual funds fear that there will be defaults.

NBFCs and other corporate borrowers claim that they do not have enough liquidity to fulfil their obligations and have requested for additional time. Given that, rating downgrades from rating agencies look likely.

However, some companies are playing smart: they are approaching the Courts to prevent a rating downgrade, plus seeking a stay on sale of pledged shares. Of course, they are well within their right to approach the judicial authority or Courts and contest.

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But the capital market regulator, seems to be in no mood in offering them any leeway. On the contrary, the regulator is asking the mutual fund industry to act against the issuer of securities who are possibly carrying high credit risk; facing asset quality problems.

Delays in repayments would mean the creation of more side-pockets by mutual funds. And in my view, more the losses investors suffer, more frustrating it will be for mutual fund houses and their investors. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

If you are wondering what has gone wrong, here's everything you may like to know about liquidity, credit risk and the exposure of mutual funds to corporate debt in the present scenario.

If you remember, the capital market regulator had mandated large corporations to source at least 25% of their borrowings from the bond markets from the beginning of FY 2019. This move was expected to deepen Indian bond markets and reduces the stress on banks. Just a year later, the same move is proving fatal for companies that went to the bond markets to raise money.

Now that the COVID-19 lockdown has forced many business units to shut off temporarily or operate much below their optimal operational capacity with a skeletal staff, companies, including the large organisations that relied heavily on debt markets, are finding it difficult to honour maturity claims on Commercial Papers (CPs), Non-Convertible Debentures (NCDs), and Bonds.

They were hoping for an 'at-par treatment' with Banks when the Reserve Bank of India (RBI) offered a moratorium period to borrowers. But the RBI circular came to them as a shocker. The devil was in the details.

On March 27, 2020, the RBI issued a notification allowing a three-month moratorium on all outstanding term loans and working capital facilities on account of disruptions caused by the outbreak of coronavirus. This circular did not cover around 10 thousand NBFCs, who mainly depend on CPs, NCDs, and Bonds for their funding requirements.

As far as NBFCs are concerned, the RBI has already provided them with a liquidity facility through the banking channel. The RBI directed banks to utilise funds infused under Targeted Long Term Repo Operations (TLTRO) facility to invest in 'investment-grade' CPs, NCDs, and Bonds issued by NBFCs. Also, RBI mandated banks to allocate 50% of Rs 50,000 crore of liquidity introduced by way of TLTRO 2.0 to small and mid-size NBFCs and small finance banks.

But NBFCs seemed not too happy with just liquidity and many of them are now approaching courts to prevent rating downgrades. This is not a best practice for the industry, although fund houses may be well within their rights to contest.

Recently, Indiabulls Housing Finance was successful in receiving the interim order from Delhi High Court, throttling any coercive action against the housing finance company for its inability to repay its bondholders. The Delhi High Court will hear the case further on May 19, 2020.

This has added to the worries of mutual fund houses that now fear other NBFCs will follow the same path.

The capital market regulator, only recently (a few days ago) following the three moratorium by RBI (due to disruptions caused by COVID-19 pandemic) has relaxed the valuation norms for debt and money market instrument held by mutual funds vide a circular dated April 23, 2020, wherein it states as under:

• Based on assessment, if the valuation agencies appointed by AMFI are of the view that the delay in payment of interest/principal or extension of the maturity of a security by the issuer has arisen solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by Reserve Bank of India (RBI) (vide notification no. RBI/2019-20/186, dated March 27, 2020) creating temporary operational challenges in servicing debt, then valuation agencies may not consider the same as a default for the purpose of valuation of money market or debt securities held by Mutual Funds.
  
  However, in the scenario, as stated above, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted.

But then what is the point of coming up with these valuation norms as an afterthought, and not in close synchronisation when the RBI came with its notification a month ago?

The damage now is already done and companies are anyways approaching the Courts to prevent a rating downgrade.

Let's say shares of a company are pledged and to recover the proceeds -- if they cannot be sold due to a court order -- then such lending would be as good as unsecured lending.

Also, why should that not be construed as an instance of deviation from the stated fundamental attributes of a debt mutual fund scheme? After all, mutual fund investors invest in debt fund schemes taking into account a certain level of risk. Change in the risk profile of a scheme is a change in the fundamental attribute/s.

According to India Ratings, NBFCs having the asset base of Rs 500 crore to 5,000 crore, largely fall between "A" and "BBB" rating categories.

The mid-path could be a decision on payment or deferring the payment in consultation with all stakeholders, including debenture trustees. The industry will require a blanket resolution because a case-to-case resolution approach is cumbersome and may create more chaos.

Unless the RBI takes a clear stance on NBFCs and other financial institutions, mutual fund houses are likely to feel the heat of redemptions. Suppose, there's no further statement issued by the banking sector regulator; mutual funds will have to be prepared to handle large-scale defaults, which might look inevitable. After all, a majority of NBFCs' customers are retail borrowers and they enjoy a moratorium on the EMI payment for 3-months. This has been the trickiest part for NBFCs.

While COVID-19 outbreak has been the genuine reason for the potential defaults this time, asset-liability mismatches of NBFCs are well-known. Many NBFCs have gone overboard with cheap credit available during stable market conditions. Their credit underwriting has been questioned widely. The industry has also witnessed belly-up instances such as IL&FS and DHFL. Many mutual fund houses have burned their fingers badly in such defaults.

At the time of writing this piece, to ease the liquidity pressure on mutual funds, the RBI today decided to provide a special liquidity facility of Rs 50,000 crore for mutual funds. Under this facility, the RBI will conduct repo operations of 90 days tenor at the fixed repo rate. This will be on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday (excluding holidays). The scheme is available from today i.e., April 27, 2020, till May 11, 2020, or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions.

The RBI has stated further that the liquidity support availed under the Special Liquidity Facility for Mutual Funds shall be used by banks exclusively for meeting the liquidity requirements of mutual funds by, 1) extending loans; and (2) undertaking outright purchase of and/or repos against the collateral of investment-grade corporate bonds, CPs, debentures and certificates of Deposit (CDs) held by mutual funds.

Having taken this measure, keep in mind that it does not make investing in debt mutual funds risk-free. Considering the prevailing investment environment, you should stay away from mutual fund schemes whose portfolio characteristic appears compromised. Also, avoid credit risk funds and corporate bond funds as they are likely to be more vulnerable amidst the financial crisis followed by COVID-19 pandemic.

As a thumb rule: Choose mutual fund schemes from fund houses that follow prudent judicious investment processes and stringent risk-management systems.

In these uncertain times, it would be wise sticking to liquid funds and overnight funds while considering debt funds.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity.

As with all financial matters, better be safe than sorry!

PS: If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

Every month, PersonalFN's FundSelect service will provide you with insightful and practical guidance on equity mutual funds and debt schemes - the ones to Buy, Hold, or Sell.

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

The Indian equity markets are on a rollercoaster with the uncertainty surrounding the COVID-19 pandemic. It's been a nerve-racking experience for investors and wealth has been eroded.

As we continue to battle COVID-19 with lockdown 3.0, on a year-to-date basis the S&P BSE Sensex is down -23.9% as of May 5, 2020, (see Table 1 below).

Table 1: Wealth erosion across market cap segments

Balanced Hybrid Funds that are supposed to be balanced and protect downside risk have gone on to erode investors' wealth by seldom maintaining a 'fair balance' and displaying unreasonable love and exuberance for equities plus for taxation reason -- to be treated as an equity-oriented fund. (see Table 2 below).

Similarly, many multi-asset funds that hold the mandate to invest with allocation across three asset classes i.e. equity, debt and gold with minimum 10% in each have posted negative returns (see Table 2 below).

Table 2: Report card of Balanced Hybrid Funds and Multi-Asset Funds

ICICI Prudential Multi-Asset Fund, HDFC Multi-Asset Fund, and UTI Multi-Asset Fund, in particular, have not lived up to the expectation and the trust evinced by investors (going by their AUM size). Not just are their recent returns amidst the outbreak of COVID-19 crisis unappealing, but even the 3-year and 5-year compounded annulaised return is nothing to vie for. This is because they haven't been able to sensibly allocate to the three key asset classes: equity, debt and gold, and play the investment strategy astutely.

On the other hand, the Quantum Multi-Asset Fund of Funds (QMAFOF) has depicted true balance backed by its sensible investment strategy arrested the downside risk and relatively fared better vis-a-vis its peers over 3-year and 5-year time periods.

The Quantum Multi-Asset under normal circumstances by maintaining 25%-65% exposure to units of equity schemes (vide Quantum Long Term Equity Value Fund, Quantum Nifty ETF); 25%-65% exposure to units of debt and money market instruments (vide Quantum Liquid Fund, Quantum Dynamic Bond Fund); 10%-20% in units of gold schemes (vide Quantum Gold ETF); and up to 5% in money market instruments, Short-term Corporate Debt securities, Tri-Party Repo, Repo/ Reverse Repo in Government securities and Treasury Bills has been able to generate modest, yet appealing returns than the rest, and mitigated the risk by diversifying across asset classes: equity, debt and gold.

Historically it is proved that all classes never move in the same direction -- up or down -- at the same time. There could be times when certain asset classes perform better than the other and/or show an inverse relation to another (see Table 3).

Table 3: Here's how various asset classes fared per calendar year

If your multi-asset fund strategically allocates between equity, debt, and gold sensing the pulse of each asset class, maintains balance, and takes calculated risk sensible wealth creation is possible.

In the on-going COVID-19 crisis, equities will remain volatile, but given the sharp correction, there are and will be, enough long-term value-buying opportunities with a decent margin of safety.

Gold in such uncertain times would continue to gain all the attention. Easy monetary policy action and accommodative stance to address growth concerns, a record-high debt-to-GDP ratio, trade war tensions, geopolitical tensions, the potential risk to the inflation trajectory mainly due to food prices, increased stock market volatility, and the U.S. Presidential election in November 2020 are some of the factors expected to work in favour of gold. The precious yellow metal will demonstrate its trait of being a portfolio diversifier, a hedge (when other asset classes fail to post alluring returns), and command a store of value.

And speaking of debt & money market instruments, with exposure to highly rated papers and predominantly government securities, will act as a stabilizer.

A unique aspect of QMAFOF is that it has always taken relative valuations between asset classes into consideration, such as:

• Price-to-Earnings relative to historical averages;
• The relationship between earning yield to bond yield relative to historical averages; and
• Macroeconomic factors prevailing globally and within India

It is this wide-ranging and sensible approach that has helped QMAFOF to protect against the downside risk and reward its investors better than many of its peers. The fund managers, Mr Chirag Mehta (MMS - Finance, M.Com, and CAIA with over 13 years' experience in research and investments) and Mr Nilesh Shetty (B.Com, MMS -Finance, and CFA with collectively 16 years in equity markets), have strategically moved in and out of the aforesaid asset classes wisely recognising their upswings and downswings.

[Read: Why Tactically Invest Across Asset Classes amidst COVID-19 with Quantum Multi-Asset Fund Of Funds]

The choice is completely yours: to stay invested in a 'Balanced Hybrid Fund'/ Multi-Asset Fund that does not show true balance and keep harming your health and wealth; or make a sensible move and switch over to Quantum Multi Asset Fund of Funds that is truly balanced and has sensibly generated wealth for investors without the shrieking experience of a rollercoaster.

Wish to invest in Quantum Multi Asset Fund of Funds? Click here.

Happy Investing!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Australian tennis star Nick Kyrgios has apparently followed through on a promise to help people going hungry in the coronavirus shutdown, with social media images showing boxes of essential items prepped for delivery.

The controversial Kyrgios, infamously outspoken and known for his fiery on-court antics, said on Monday he would personally drop food on doorsteps after COVID-19 restrictions closed down entire industries, forcing huge numbers of people out of work across Australia. People queueing for welfare payments across the country have been likened to scenes from the Great Depression. "Please don't go to sleep with an empty stomach," Kyrgios, the world number 40, posted on Instagram Monday. "Don't be afraid or embarrassed to send me a private message. I will be more than happy to share whatever I have.

"Even just for a box of noodles, a loaf of bread or milk. I will drop it off at your doorstep, no questions asked!" he said in a post that attracted almost 100,000 likes. His mother, Norlaila Kyrgios, posted on Instagram over the weekend a photo of a table laden with food -- including bread, fruit and canned goods -- with the caption "dining room or food distribution centre".

Images of Canberra-based tennis star's Instagram stories shared on News Corp websites showed boxes of essentials captioned "deliveries in progress". It comes just months after the 24-year-old led a bushfire relief campaign that raised millions of dollars. Kyrgios gave Aus$200 (US$125) for every ace he hit across his home tennis summer, which ran until the end of the Australian Open. Other players and Australian Open organisers jumped on board the fundraising drive, also contributing large sums to people affected by the deadly fires.

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The ATP and WTA, along with the International Tennis Federation and organisers of the four Grand Slams (Tennis Australia, the Federation Francaise de Tennis, All England Club and United States Tennis Association) are planning create a 'Player Relief Programme' to provide assistance to the coronavirus-impacted players.

"With so much uncertainty around when it will be safe to restart the professional tennis tours, the international governing bodies of world tennis can confirm they are in discussions to create a Player Relief Programme to provide much-needed assistance to the players who are particularly affected during this time of the coronavirus (COVID-19) crisis," ITF said in a statement on Tuesday.

"These discussions have been progressing well and details are being finalised with an announcement expected in the near future. Already agreed is that the ATP and the WTA will administer the Player Relief Programme and all seven stakeholders will make a significant contribution," the statement added. IFT further said: "We know that for our players, as well as for so many people worldwide, there is the need for financial support for those who need it most and we look forward to finalising and sharing the further details of a plan in due course."

The London-based governing body has also announced the creation of player panels for those competing on its World Tennis Tour. "The panel will provide a forum for players to provide their input and have their say on how the tour is run and will be a further opportunity for the ITF to engage with the player community," ITF said. The men's and women's players will each elect a panel of seven current player members, who will have voting rights.

Men's players with an ATP ranking of below 350 and women's tennis players with a WTA ranking not higher than 151 will be allowed to nominate a fellow player or stand in the election.

All professional tennis activities remain suspended till July 13 due to coronavirus outbreak which has so far claimed more 1.7 lives across the world.

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20-time Grand Slam champion Roger Federer came up with a radical proposal regarding the future of international tennis. The Swiss superstar suggested a merger between men's tennis body ATP and women's governing body WTA.

Federer believes this could be the right time for a merger between ATP and WTA for the betterment of the sport. The former World No.1 also explained that he isn't asking for competitions being merged but only the governing bodies.

"Am I the only one thinking that now is the time for men's and women's tennis to be united and come together as one?" Federer wrote on his Twitter handle.

"I am not talking about merging competition on the court, but merging the two governing bodies (ATP and WTA) that oversee the men's and women's professional tours."

"It's too confusing for the fans when there are different ranking systems, different logos, different websites, different tournament categories," he wrote further.

The entire sporting calender of the world is reeling due to Covid-19 pandemic and tennis is not different. The season has been put on hold with multiple tournaments being postponed or cancelled.

The second slam of the year, French Open, has been postponed from May to September while the Wimbledon was cancelled earlier this month in the wake of coronavirus crisis. Wimbledon had only been cancelled twice before, because of World War 1 and World War 2.

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A fund for tennis players hardest hit by the coronavirus pandemic has been created, the sport's governing bodies announce, adding that they had contributed more than $6 million (5.3 million euros). In a joint statement, the ATP and WTA tours, the International Tennis Federation and the four Grand Slam tournaments -- the Australian Open, Roland-Garros, Wimbledon and the US Open -- said the Player Relief Programme will support those "who are facing unprecedented challenges due to the global impact of COVID-19".

With the tennis season suspended until at least July 13, some "800 ATP/WTA singles and doubles players" are in need of financial support, the statement continued, with eligibility for the fund determined by a player's ranking and previous prize money earnings. The fund can also be donated to via initiatives including auctions, player donations and virtual tennis games, added the governing bodies, who last month announced talks about creating the programme.

The virus has caused havoc to the calendar, with Wimbledon cancelled for the first time since World War II and the French Open postponed until the end of September. The United States Tennis Association will decide in mid-June whether or not the US Open will take place in New York. However despite the financial difficulties facing hundreds of players, the idea of a relief fund was dismissed by world number three Dominic Thiem, who said last month he would not give lower-ranked players his money.
"Quite honestly I have to say that no tennis player will be fighting to survive, even those who are much lower-ranked," Thiem said, speaking of a separate fund idea revealed by Novak Djokovic.

"None of them are going to starve ... I would rather give money to people or organisations that really need it."

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The Maharashtra Tourism Development Corporation (MTDC) is working on a tie-up between hospitality provider Airbnb and locals for offering home-stay to tourists visiting the Elephanta Caves island located in Mumbai Harbour. The policy aims to overcome the security concerns due to high security installations facing the island that does not allow construction of hotels and night stay.

Tourism Minister Jaykumar Rawal said the 29th two-day Elephanta Festival, beginning January 27, will be held on the island itself again. After the 2008 Mumbai terror attacks, the festival venue was shifted to the Gateway of India in south Mumbai. "Seventy years after Independence, the island is soon to get proper electricity connection depending upon the testing of the electricity meters," the minister said. Rawal said there are about 1,200 to 1,500 homes on the Elephanta island, also known as Gharapuri Island, located east of Mumbai.

The minister said no new constructions are allowed on the island due to high-security installations of ONGC and the Navy. The Caves are declared a heritage site by the UNESCO and protected by the Archaeological Survey of India (ASI). Rawal said the government in a tie-up with the Mumbai Port Trust and the Hindustan Petroleum Corporation Ltd (HPCL) is planning a cable car over the sea for travelling to the island. The island is expected to get proper electricity connection within a week's time.

"The Elephanta festival will coincide with the culminating phase of the Mumbai Shopping Festival that will end on January 31," he said, adding that the Elephanta fest will comprise activities like treasure hunt at Elephanta, a sculpture and a painting contests with prize money. Besides this, the festival will have art, dance and music performances by Zia Nath, Sangeeta Trivedi, Sumeet Nagdev, Hans Raj Hans and others, Rawal said.

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Colva beach in South Goa has been selected by the Union Tourism ministry to be developed under the ambitious India¿s Iconic Tourist Sites Project, a senior official said today. Union Tourism Secretary Rashmi Verma made the announcement here today and added that it was the only beach along the 12 sites selected.

"It will boost tourism and build the profile of the area and bring about community development," state tourism officials said. The project envisages employment generation, development of local culture, beautification, infrastructure and other public amenities, they added. Verma said that a detailed master plan would be put in place to develop Colva beach as an iconic tourist site.

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The difference in climate, atmosphere and surroundings while you are travelling can have a major impact on your skin hence it is important to carry some of the must have skincare products while travelling to avoid damage to your skin.

Blossom Kochhar, Chairperson, Blossom Kochhar Group of companies, lists some necessary things to keep with you while travelling.

1. Sunscreen lotion: The first rule while travelling is not to forget your sunscreen while packing irrespective of what the climate is like. It not only protects your skin form the harmful UV rays of the sun but also prevents tanning and prevents premature aging. If you plan to stay out for long in the sun, opt for a sunscreen with SPF 30 or SPF 30 PA ++.

2. Face wash: Since your skin is exposed to different environments while travelling, you are bound to attract dirt and bacteria; therefore a face wash is a must in your travel kit

3. Moisturise: A moisturiser is very important while travelling especially for long haul flights as your skin becomes dry up in the air. While travelling to humid regions like a beach holiday, an oil free moisturiser with juniper berry is recommended.

4. CTOM small kit: For a glowing and healthy skin cleansing, toning, oiling and moisturising is the key. This helps in removing all the dirt from your skin, keeps it hydrated and opens up clogged pores so that your skin can breathe with ease.

5. Lip balm: Since you are unaware of how the change in climate will impact your skin, it is very essential to carry a lip balm to keep your lips hydrated and avoid flaky lips.

6. Vitamin C lightening gel: It is best to use it on clean skin after using a toner. Apply on your face and neck in gentle circular motions. It is best to use this gel before applying makeup.

7. Lavender oil: Lavender oil helps not only to keep you calm and relax your mind while on a long journey, but it also treats sun burns. It is also advisable to keep lavender oil handy while you are travelling, be it on the hills or on the beach.

Geetika Mittal Gupta, Founder and Medical Director at ISAAC, too has some inputs to share.

8. Travel skin-care kit: The one thing you need to coordinate and organise ahead of time is a travel skin-care kit so that you can avoid any skin catastrophes that might ruin your trip. Nowadays, every brand is coming out with its travel size packaging. Hence, making it easy to follow our skincare regimen even during travel.

9. Wet wipes: Wet wipes or thermal spring water are a must when one is travelling. They help in keeping the skin clean and dirt free while travelling. When we move out of our house, there are more chances of dust accumulation, hence it is very important to have them handy while you're on the go.

10. Face mists: Face mists too help to keep the skin well hydrated specially in the dry regions.

11. Moisturiser: A daily moisturiser and Rosehip Oil is a must in the travel bag as one might need it every now and then while travelling. For the lips, a lip balm with at least SPF 15. Even better if the lip balm is tinted to add that pop of colour to the lips.

12. Night cream: A nice soothing night cream and a Vitamin C rich serum is definitely something that should find space in your travel kit.

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An article he had read a little over two years ago changed Rohit Ingle's life forever. It espoused the cause of veganism so persuasively that Ingle says he was convinced overnight to give up eating meat. "I can't remember where I read the article," he confesses. "But it had a very simple line - if you are an animal lover, you can't eat them. If you love someone, how can you be the cause of their misery?" he adds.

Rohit Ingle while flagging off his journey from Ahimsa Fest this week. Pics/Sneha Kharabe

That message is what he now hopes to spread across the country, riding a cycle. Ingle embarked on his epic journey - and it can only be described as that - from Bandra on Thursday, a week ahead of World Vegan Day on November 1. The plan is to cover 19,000 km over one year, stopping not just at different state capitals, but especially in the hinterland. "Hardly anyone in India knows about veganism," he says, adding, "I'll pitch my tent at places like highway dhabas. There, I can interact with the customers and tell them more about what I am doing, hopefully inspiring some of them [to take up veganism] in the process."

Does he feel any apprehension? "Yes, I am nervous, I won't lie about that. But I am motivated by my cause. There are also people who will be there to welcome me at Ahmedabad and Surat initially, and that will hopefully give me further encouragement. So, as the journey goes by, I am sure this feeling will go away."

But, Ingle adds, he's not quite sure about how he will sustain himself financially to get through an entire year. "I have raised `60,000 [of his `3.5-lakh target] through crowdfunding. I have also received money from The Pollination Project, an organisation based in the US that has sponsored me for $1,000. So, I have around `1.3 lakh and can easily start my journey for at least three to four months."

After that, he hopes to keep going till November 2018, inspiring as many people as possible along the way. "See, the message is very simple - if you want to eat meat or wear animal products, an animal that doesn't want to die is definitely going to be killed. So, you have to keep that in mind."

On the stage at the majestic Royal Opera House, artistes take their seat in a semicircle for what is an unusual gathering. At the centre is British radio and television presenter Nikki Bedi, who, along with familiarising her guests with the flow of the show is also breaking the ice between participants. They are here to record The Arts Hour, a BBC radio production that goes on a tour once a month to capture the best in arts across the world. The Mumbai edition airs today.

Actor Bhumi Pednekar (with Nikki Bedi to her right) calls out the boors behind Padmavati protests. Pics/Pic/Bipin Kokate

In the city on the evening of November 22, the researchers have picked six artistes who they feel best represent the dynamic cultural scene of the city. Flanking Bedi are film critic and director of the Mumbai Film Festival Anupama Chopra, and actor Bhumi Pednekar. Seated next to them are stand-up comedian, screenwriter and novelist Anuvab Pal, and Shamir Reuben, head of content and social media at the spoken word collective, Kommune. On either side of the stage, fine-tuning their arrangements are the popular Hindi rock ensemble Anand Bhaskar Collective and pop duo from Kolkata — with a big fan following in Mumbai — Parekh & Singh in signature fruity suits. "The show is a way of seeing a people and their culture, and understanding their politics and issues through the prism of art. Stand-up comedy and spoken word are burgeoning fields in Mumbai. There is also a sea change in the kind of subjects that Indian cinema is choosing. Issues like sanitation, erectile dysfunction and fat shaming are not just making it to film, they are also managing to attract audiences into theatres," says Bedi about why it was a good time to come to Mumbai.

Nischay Parekh readies to perform the band's hit song

For this edition's research, Bedi, who was born a Moolgaokar and has roots in Mumbai, played the fact checker for producer Nicki Paxman along with providing other insider inputs. A regular feature of the show, The Culture Cab, involves the presenter hailing a cab with an artiste who then takes her around the city to explore it like a local. Though her Mumbai guide was Pal, with whom she explored the splash of global colours at the ongoing Sassoon Docks art project and the murals of Bandra, Bedi shared her favourite part of the city with him, too — Walkeshwar's Banganga.

Throughout the recording that lasted two and a half hours, the team's homework kept the conversation alive and relevant. Bedi, a natural at hosting, puts her guests at ease. It comes across in Pednekar's candour, who minces no words when asked about the ongoing controversy around Padmavati. "You know, these are people who don't give a s**t about history," she says, a word Paxman gets politely replaced at the end of the show with the milder "damn". Bedi then moves on to ask Pal and Reuben if comedy and spoken word have become popular for similar reasons and how social media has played a part. With artistes as guests, each segment packs in a performance. While Pal's jibes about SoBo residents have the audience in splits, Reuben's poetry moves many to tears. Vocalist Nischay Parekh of Parekh & Singh shares the inspiration behind their music video with a million hits, I Love You Baby, I Love You Doll, before performing it, and Anand Bhaskar shares why all his compositions are in Hindi before segueing the show to its end with a rendition of Fanaa.

An audience member comments about the need to see more everyday people in films

Rahul Baswani, who came to know of the show through Pal's tweet, is happy to have made it in the audience. "I listen to a lot of podcasts. So, the most fascinating bit for me was towards the end when they did the retakes," he says. In the green room, mutual understanding and fandom fill the air. "At the end of the day, we are all artistes, and we could feel the synergy and a shared language throughout," says Parekh, who has just promised Pal that he'll be there for his Kolkata gig the next day, even as Pal admits that the music duo is everything he would have wanted to be as a 27-year-old.

The sound engineers at work

Chopra, on the other hand, is happy that the show recognises the power of Indian cinema and how it is evolving. "Outside India, there is a fixed notion of what Bollywood is. But there is a different language [spoken] now, which most people don't know of. I am hoping that the show will communicate that." For Reuben, it has been a platform for artistic exchange. "The beauty of tonight was people might have come to watch comedy and they learnt a bit about spoken word. Or that they wanted to hear a poem and they left with music," he says. "For the BBC to say that there is something stirring in Mumbai is a statement."

On a Wednesday morning, the cottages that line St Roques Road in Bandra bask in the winter sun. The lane is quiet, except for the occasional bark of a pet or scooters zooming off into the nearby Ranwar village. As a taxi driver wipes the dust off his kaali peeli, Jay Weinstein approaches him with a camera in tow. He doesn't ask for his name, ethnicity or life story; only for a couple of photographs. Seeing him puzzled, the Australian-origin photographer breaks into crisp Hindi, "Main kahin bhi jaata hoon, anjaane logon ki tasveer banata hoon [Wherever I go, I make images of strangers]."

Hearing the familiar language, the driver is game to play the subject. First, he's asked to wipe the expression off his face and stand next to his cab. Satisfied with the shot, Weinstein tells him, "Ab muskuraiye [now smile]," and captures his wide grin on camera. The interaction lasts only for a few minutes but we spot the driver smiling even after Weinstein's DSLR is back in his bag.

Jay Weinstein documents  the smile of a taxi driver in Bandra. Pics/Bipin Kokate

This connection forms the essence of the 38-year-old's ongoing photography project, So I Asked Them to Smile (SIATS). Over the last two years, Weinstein has shared 250 portrait pairs - non-smiling and smiling frames of kids and adults from all walks of life - on digital platforms. Next week, he will display 30 most compelling frames for the first time at an exhibition.

The photographer shows the images he takes to each subject

The backstory
It was a trip to Bikaner in 2013 that gave birth to this project. When Weinstein raised the camera to photograph a man with a wispy beard, he was greeted with a stern look. Miffed, he turned away, only to hear the man urging him to take his picture. "We make judgments about strangers in binaries as friendly-unfriendly or good-bad. These are rarely accurate. The idea is to change the way we view a stranger, and see how their smile changes our assumptions," says the US-born photographer, who spent his growing up years in Vrindavan, studied recreational sports coaching in Australia and returned to Mumbai in 2004 to pursue acting.

"He was jumping around in the water with a friend one afternoon, as I wandered down Juhu Beach," says the photographer

Soon, he ventured into advertising, and rekindled his love for travel and photography. "It gave me a reason to notice things that we walk past, and start conversations with strangers," says Weinstein, who considers the art meditative. "The calmer you are, the more of the outside world you notice."

"She was exploring the stunningly restored Kaiyuan temple complex one evening, with her daughter in Quanzhou, Fujian, China"

Say cheese
For the last few years, he has turned a full-time traveller and spends most of his time in India. "I love Mumbai but when you step out, you realise how different the rest of India is," shares Weinstein, who has visited Meghalaya, the interiors of Maharashtra, Orchha in Madhya Pradesh and the coast of Kerala, where he found his subjects to be camera-shy. "In rural areas, I also had to translate 'smile' as 'daat dikhaao' since they don't understand the meaning of muskurana."

Language also poses a barrier in non-English speaking countries. "In China, instead of 'say cheese', they say 'chetz', which means eggplant," he laughs. What's the next country on his wishlist? "Pakistan. The project's initial followers were Pakistanis. I assumed they wouldn't be happy seeing these photographs but realised where else would they have seen images of Indians as humans, without an agenda. Indians don't get to see their photographs this way either."

From: December 20 to 26, 11 am to 7 pm
At: Jehangir Art Gallery, Kala Ghoda
Call: 8828472412

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Portrait-making tips
While there is enough information about how to get your technique right, I'd suggest you interact with your subjects and treat them with dignity

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To stop false news from spreading on its platform, Facebook has said it put in place a three-pronged strategy that constitutes removing accounts and content that violate its policies, reducing the distribution of inauthentic content and informing people by giving them more context on the posts they see.

Another part of its strategy in some countries is partnering with third-party fact-checkers to review and rate the accuracy of articles and posts on Facebook, Tessa Lyons, a Facebook product manager on News Feed focused on false news, said in a statement on Thursday.

The social media giant is facing criticism for its role in enabling political manipulation in several countries around the world. It has also come under the scanner for allegedly fuelling ethnic conflicts owing to its failure to stop the deluge of hate-filled posts against the disenfranchised Rohingya Muslim minority in Myanmar.

"False news is bad for people and bad for Facebook. We're making significant investments to stop it from spreading and to promote high-quality journalism and news literacy," Lyons said.

Facebook CEO Mark Zuckerberg on Tuesday told the European Parliament leaders that the social networking giant is trying to plug loopholes across its services, including curbing fake news and political interference on its platform in the wake of upcoming elections globally, including in India.

Lyons said Facebook's three-pronged strategy roots out the bad actors that frequently spread fake stories.

"It dramatically decreases the reach of those stories. And it helps people stay informed without stifling public discourse," Lyons added.

Although false news does not violate Facebook's Community Standards, it often violates the social network's polices in other categories, such as spam, hate speech or fake accounts, which it removes remove.

"For example, if we find a Facebook Page pretending to be run by Americans that's actually operating out of Macedonia, that violates our requirement that people use their real identities and not impersonate others. So we'll take down that whole Page, immediately eliminating any posts they made that might have been false," Lyons explained.

Apart from this, Facebook is also using machine learning to help its teams detect fraud and enforce its policies against spam.

"We now block millions of fake accounts every day when they try to register," Lyons added.

A lot of the misinformation that spreads on Facebook is financially motivated, much like email spam in the 90s, the social network said.

If spammers can get enough people to click on fake stories and visit their sites, they will make money off the ads they show.

"We're figuring out spammers' common tactics and reducing the distribution of those kinds of stories in News Feed. We've started penalizing clickbait, links shared more frequently by spammers, and links to low-quality web pages, also known as 'ad farms'," Lyons said.

"We also take action against entire Pages and websites that repeatedly share false news, reducing their overall News Feed distribution," Lyons said.

Facebook said it does not want to make money off of misinformation or help those who create it profit, and so such publishers are not allowed to run ads or use its monetisation features like Instant Articles.

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Scientists have developed the first ultrasound-firewall that can prevent hackers from eavesdropping on hidden data transmission between smartphones and other mobile devices. The permanent networking of mobile devices can endanger the privacy of users and lead to new forms of monitoring.

New technologies such as Google Nearby and Silverpush use ultrasonic sounds to exchange information between devices via loudspeakers and microphones. More and more of our devices communicate via this inaudible communication channel. Ultrasonic communication allows devices to be paired and information to be exchanged.

It also makes it possible to track users and their behaviour over a number of devices, much like cookies on the Web. Almost every device with a microphone and a loudspeaker can send and receive ultrasonic sounds. Users are usually unaware of this inaudible and hidden data transmission.

Researchers from the St Polten University of Applied Sciences in Austria has developed a mobile application that detects acoustic cookies, brings them to the attention of users and if desired, blocks the tracking.

The app is, in a sense, the first available ultrasound-firewall for smartphones and tablets "The most challenging part of developing the app was to devise a method that can detect different existing ultrasound-transmission techniques reliably and in real time," said Matthias Zeppelzauer, who led the project.

Such ultrasonic signals can be used for so-called "cross-device tracking". This makes it possible to track the user's behaviour across multiple devices, and relevant user profiles can be merged with one other. In this way, more accurate user profiles can be created for targeted advertising and filtering of internet content.

Unlike their electronic counterparts when visiting web pages, up to now it has not been possible to block acoustic cookies.

"In order to accept voice commands, the mobile phone microphone is often permanently active. Every mobile application that has access to the microphone, as well as the operating system itself, can at any time without notice: activate the microphone of a mobile device, listen to it, detect acoustic cookies and synchronise it over the Internet," said Zeppelzauer.

Users are often not informed of this information transmission during ongoing operation. Only a permanent deactivation of the microphone would help, whereby the device as a telephone would become unusable. Researchers developed a procedure to expose the cookies and inform device users. For masking and blocking the ultrasonic data transfer, interference signals are transmitted via the loudspeaker of the mobile device.

Thus, acoustic cookies can be neutralised before operating systems or mobile applications can access them. Users can selectively block cookies without affecting the functionality of the smartphone. The masking of the cookies occurs by means of ultrasound, which is inaudible to humans.

"There is currently no technology on the market that can detect and block acoustic cookies. The application developed in this project represents the first approach that gives people control over this type of tracking," said Zeppelzauer.

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The heads of tax authorities from the BRICS states met in Mumbai, India, on December 5-6, 2016, to discuss the implementation of the OECD's base erosion and profit shifting project.

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

Russia should hike value-added tax by four percent to 22 percent and lower social security contributions, the International Monetary Fund has proposed.

Legislation has been tabled in Russia's lower house of parliament, the Duma, to introduce a two-rate personal income tax regime, in place of the current flat tax regime.

Can any subscriber old let me know how Profit Velocity & Peak Profit Alert is performing? Which one is better? I am planning to subscribe for one...

I request you to kindly give me your advise on GST which is going to be implemented very shortly. Thanks and Regards, Varadarajan Kasturi..

(this is continuation of the title): Why is the daylight robber being rewarded instead of punished or fired BEFORE he proves he has value ?! Your proposed role for him doesn't seem to offer any value to us. I saw the mails about Ankit stealing research id..

It is becoming very common these days to get at least one mail per month from EM announcing some new service. Usually an existing service is broken up into pieces and offered as something new. EM is degrading itself into a MLM company. Equity research is ..

Disappointed with Kapil Dev's response, Pakistan's Shahid Afridi has backed his former teammate Shoaib Akhtar's proposal for an ODI series against India to help raise funds for the less privileged in their fight against the COVID-19 pandemic.

Afridi told reporters in Kohat that he was surprised by the comments of Indian great Kapil and former IPL chairman, Rajeev Shukla, who outrightly dismissed Akhtar's suggestion. "The entire world is fighting against coronavirus and we need unity in our region to defeat this common enemy. Such negative comments don't help at all," Afridi said. "I don't see anything wrong with Shoaib Akhtar's suggestion for Pakistan and India to play cricket. "Kapil's reaction has surprised me. I expected better from him and feel one should not talk like this in these crisis times." Afridi said that he was also surprised at some of the "negative comments" Indian stars Harbhajan Singh and Yuvraj Singh's support for his charity foundation attracted.

"Sport is supposed to bring people together and build bridges. It is pretty disappointing." Afridi also urged Prime Minister Imran Khan to order the Pakistan Cricket Board (PCB) to restore departmental cricket in the country to save the livelihood of hundreds of domestic players. "I myself played for the departments and witnessed how departments really salvaged domestic cricket in Pakistan and helped it thrive decade after decade.

"Departments take good care of the players and spend lots of money on the development of domestic cricket, so how can departmental cricket hurt Pakistan cricket," questioned Afridi. He also questioned the PCB and the Pakistan team management for making a fitness of players a big issue. "They are always talking about hard training and fitness tests. I have never seen fitness tests taken with such frequency and the result is that many players are getting injured and many of them are also unhappy with the situation."

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The threat of online corrupt approaches does not cause much anxiety to BCCI's head of Anti Corruption Unit (ACU) Ajit Singh, who says Indian players are well aware of the modus operandi of fixers and are quick to report anything suspect. The ICC ACU head Alex Marshall, in an interview to 'The Guardian', said that prolonged lockdown and players using various social media platform could lead to corrupt approaches being made and people need to tread carefully. Singh said BCCI ACU is in control. "...we have made our players aware about the way people approach you and modus operandi through social media. We have told them 'look this is how they (potential fixers and bookies) would approach you'," the veteran IPS officer told PTI in an interaction. "(They will) try and behave like a fan and then try to meet you through someone who may be your acquaintance," he added. "Somehow these elements try and touch base with players. Most of them (India players), whenever it happens, they do report to us that I have got a contact."

Most of the top players, with millions of followers, have been very active online with Q and A sessions on twitter, interactive chats on instagram and Facebook live. So is the BCCI's ACU team tracking the online content? "Whatever can be tracked online, we do that. But obviously the physical verification part of going out and checking locations is out of question in times of a lockdown," he spoke about practical problems. "But if something comes to our notice, it automatically goes into our database and once lockdown is over, we will verify those if the need arises." Singh said the easiest aspect of tracking social media content is that it doesn't require too much manpower. "A few men who know their jobs can do it pretty well," the former DGP of Rajasthan said. But Singh said that, in his two year stint, all current India players have been honest and upright, very aware about their responsibilities. "We are not adversaries of players. The players and ACU are one team. It's the people who are trying to corrupt the games, they are the ones we need to track down." He said that both tracking social media and physical verification of corrupt approaches has its own set of challenges.

"Those who were trying to corrupt the players with physical presence and those using fake IDs on social media handles, converge at some point," he said. "Either it's the same person with a fake ID who tries to approach the player or uses someone on his behalf. So there is a pattern of convergence. One has to follow both the lines," he added. Singh said even former players have approached the ACU when they have found something unusual. "There have been things coming from current players and also retired players. There has been information coming from them. Things that they doubted, which look suspicious. "Any information is useful. Even if it's a false alarm, it raises the awareness level of the players as well as the skills of the team investigating it," the retired top cop said. There are some structural plans for the BCCI's ACU which will only materialise once normalcy returns after the COVID-19 pandemic. "Every zone will have a zonal head as it had been said earlier. A few zones don't have zonal heads, so we will fill those posts," he said.

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Sunil Gavaskar says India can swap the T20 World Cup with Australia and host it this year instead of the scheduled 2021 edition, provided the COVID-19 curve flattens in the country. Global sporting activities have come to a halt due the COVID-19 pandemic, jeopardising events like the 2020 T20 World Cup, scheduled in Australia from October 18-November 15.

India are supposed to host the next edition in 2021. "As we all know, Australia has barred foreigners from entering the country till September 30. The tournament starts mid-October so it is looking difficult at the moment," Gavaskar told India Today.

"Next year the T20 World Cup is in India. If India and Australia come to an agreement and the COVID-19 curve in India flattens out, they can swap. It can be held in India this October-November and next year in Australia around the same time."

The IPL too has been indefinitely postponed but there is a possibility of it being held in September. "If it (T20 WC swap) happens that way, IPL is just held prior to T20 World Cup so there is enough practice for the players. Then you can have T20 World Cup in November and Asia Cup in December in UAE. December is a much better time to host a tournament in the UAE," said the 70-year-old.

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India all-rounder Hardik Pandya has joked that a cup of coffee proved too costly for him and he now drinks green tea instead in an Instagram live chat with wicket-keeper Dinesh Karthik. Pandya was referring to the controversy he landed in due to his comments on the television show Koffee With Karan in early 2019.

"I don't drink coffee, I drink green tea instead. I drank coffee only once and proved to be too expensive for me. I can bet that Starbucks would not have such an expensive coffee. Since then I stay away from coffee," he said in the live chat which also featured his brother and fellow all-rounder Krunal.

Pandya was caught in a maelstrom of controversy in early 2019 due to his remarks on the chat show in which he had appeared with teammate KL Rahul. It led to both being briefly suspended from the Indian team.

Pandya has since got engaged and while his return to the Indian team has been hampered by injuries and the ongoing coronavirus lockdown, he is expected to play for the team at the T20 World Cup later in the year should it go through.

He also said that he would be okay with the 2020 season of the Indian Premier League (IPL) being played behind closed doors. The season has been postponed after the Indian government extended the ongoing lockdown in the country to May 3 amid the coronavirus pandemic.

"It will be different. We are used to playing in front of them as the feeling of competition comes with the crowd," said Pandya in an Instagram live chat with Dinesh Karthik.

"I've played in the Ranji Trophy without crowds, and it feels different. To be honest, if that [IPL behind closed doors] happens, it will be a smarter option. At least people will be entertained at home," he said.

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Temperamental Pakistan batsman Umar Akmal was on Monday banned for three years by the PCB for failing to report corrupt approaches ahead of the country's premier T20 league this year. The Pakistan Cricket Board (PCB) had suspended the 29-year-old in February pending an anti-corruption investigation by its disciplinary panel.

The PCB charged him for two breaches of Article 2.4.4 of its Anti-Corruption Code in two unrelated incidents in February this year ahead of the Pakistan Super League -- a T20 event also featuring international cricketers. Akmal had decided against appealing against the charges last month. "Umar Akmal handed three-year ban from all cricket by Chairman of the Disciplinary Panel Mr Justice (retired) Fazal-e-Miran Chauhan," read a tweet from the official handle of the PCB's media department.

Akmal was suspended hours before his PSL team Quetta Gladiators was to take on Islamabad in the opening match of the 2020 edition. Reacting to the ban imposed on him, former Pakistan captain Ramiz Raja said time has come to criminalise match-fixing. "So Umar Akmal officially makes it to the list of idiots! Banned for 3 years. What a waste of a talent! It's high time that Pakistan moved towards passing a legislative law against match fixing. Behind bars is where such jack asses belong! Otherwise brave for more!!"

Raja tweeted. Akmal is the younger brother of former Pakistan wicketkeeper-batsman Kamran Akmal, who played 53 Tests, 58 T20s, and 157 ODIs for Pakistan, and cousin of current captain Babar Azam. Akmal, who last played for Pakistan in October, has featured in 16 Tests, 121 ODIs and 84 T20s, scoring 1003, 3194 and 1690 runs respectively. Akmal promised a lot after making a hundred in New Zealand on his Test debut, but failed to live up to the high expectations that came with some fine performances early in his career. Constant run-ins with the authorities also marred his stop-start career. Akmal had earlier escaped a PCB ban in February for allegedly making crude remarks to a trainer during a fitness test at the National Cricket Academy in Lahore.

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Shoaib Akhtar has yet again landed himself into trouble after PCB legal advisor Tafazzul Rizvi filed a criminal as well as defamation suit against the former fast bowler for his allegedly inappropriate comments against him in a YouTube show. Rizvi, the long serving legal advisor of the board, made it clear he had initiated defamation and criminal proceedings against Akhtar and also lodged a complaint with the Federal Investigation Agency under its cyber crime laws.

In the legal notice sent to Akhtar, Rizvi highlighted legal charges and punishments awarded to the former fast-bowler throughout his career. He also demanded that he retracts his statements, tendean unrs conditional apology, pays PKR 100 million in damages and refrains from repeating and making defamatory remarks against the lawyer in the future. Akhtar, who did a video on the three year ban imposed on the controversial Umar Akmal has also ended up irking the Pakistan Bar Council which in a statement cautioned him to be careful with his words while talking about the legal fraternity. The council in particular said it was disappointed to hear the comments Akhtar had made about Rizvi, a respected member of the legal fraternity. "Shoaib Akhtar should be very careful in his discussions on matters pertaining to the legal community," the statement said. The Pakistan Cricket Board said it was disappointed with Akhtar's poor choice of words while commenting about its legal department.

"The language used by Akhtar was highly inappropriate and disrespectful, and cannot be condoned in any civilised society. The PCB's legal advisor, Mr Taffazul Rizvi, in his own discretion, has initiated defamation and criminal proceedings against Shoaib Akhtar, while the PCB too reserves its rights." Akhtar, who has also got into trouble in the recent past because of his YouTube channel, defended Umar in his video and criticised the three-year ban on him imposed by the PCB Disciplinary Panel. He also mocked Tafazzul Rizvi and questioned his legal experience, claiming he (Tafazzul) always only complicated matters between the board and players.

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Wasim Akram has claimed that "some people" still use his name to "promote" themselves, a reference to ex-opener Aamir Sohail who has blamed the pace great for Pakistan not winning the World Cup since 1992. "Whenever I hear these negative things about myself I feel very sad that it has been 17 years since I retired but even today they are some people using my name to promote themselves," Akram said on a web show. Wasim said even he could say a lot of negative things about others but refrained from doing so.

"I can also make negative comments about these people but what purpose will it serve. That is why I keep quiet. I just think about the respect and love I have earned from the people over the years and even 17 years after retirement," he said. Sohail, who is also a former Pakistan captain, has claimed that Akram's job as captain in the 1996 and 19999 World Cup and as a senor player in the 2003 edition was to ensure that Pakistan never repeated their 1992 title-winning feat.

"It's very simple. Put the 1992 World Cup to one side and talk about the 1996 World Cup. In 1995, Ramiz Raja was captain. Saleem Malik was the captain before that, he was very successful and if he could have spent one more year as captain then Wasim would not have been leading the side," Sohail was quoted as saying by Dawn. "If you look at what happened till 2003, there was this persistence before every World Cup to remove the captain and put Wasim Akram in that role...Look, the biggest contribution by Wasim Akram for Pakistan cricket was making sure Pakistan does not win a World Cup after 92," he added.

Former Pakistan pacer Ata ur Rehman and former PCB chiefs, Khalid Mahmood and Lt General (retd) Tauqir Zia, have also mentioned Akram's name while discussing the match-fixing allegations of the 90s and the Justice Malik Qayyum report.

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China has approved its third coronavirus vaccine for the second phase of clinical trials as it reported 12 new COVID-19 cases, taking the total number of infections in the country to 82,816. China has approved three coronavirus vaccines, including the one developed by Chinese military, the People's Liberation Army (PLA) for clinical trials. An "inactivated" vaccine developed by Wuhan Institute of Biological Products under the China National Pharmaceutical Group (Sinopharm) and the Wuhan Institute of Virology (WIV) started its clinical trials, state-run Xinhua news agency reported.

An "inactivated" vaccine consists of virus particles, bacteria, or other pathogens that have been grown in culture and then lose disease producing capacity. In contrast, live vaccines use pathogens that are still alive. WIV has been in the eye of the storm in recent weeks as US President Donald Trump and top American officials alleged that the coronavirus may have escaped from there and demanded a probe into it. An official of the WIV denied it, terming the allegation "entirely based on speculation".

A total of 96 persons in three age groups have received the vaccine in the first phase of clinical trial as of April 23. The vaccine has shown good safety results so far and vaccine receivers are still under observation, said the Chinese pharmaceutical company Sinopharm. The randomised, double-blind and placebo-controlled clinical trials of the inactivated vaccine are conducted in Jiaozuo, central China's Henan Province, and the second phase of clinical trial will focus on the vaccination procedure, it said.

The vaccine will also go through the third phase of the clinical trial, and it may take about one year to complete the clinical trial before finally reaching the conclusion on the vaccine's safety and efficacy, it said. China has approved three COVID-19 vaccine candidates for clinical trials. An adenovirus vector vaccine, developed by Institute of Military Medicine under the Academy of Military Sciences, was the first to be approved to enter a clinical trial. The first phase of the clinical trial was completed at the end of March, and the second phase started on April 12.

Meanwhile China's National Health Commission, (NHC) said on Saturday that 12 newly confirmed COVID-19 cases were reported in the country on Friday, of which 11 were imported. The other one was domestically transmitted in Heilongjiang Province bordering Russia. The death toll in the country remained at 4,632 people as no fatalities were reported due to coronavirus on Friday, it said.

The overall confirmed cases on the mainland had reached 82,816 by Friday, including 838 patients who were still being treated and 77,346 people discharged after treatment. The total number of imported cases of the coronavirus in China increased to 1,629 on Friday, of this 909 had been discharged from hospitals after recovery, and 720 were being treated with 25 in severe conditions, it said. Also on Friday, 29 asymptomatic cases were reported. So far, 983 suspected asymptomatic cases, including 150 from abroad, were still under medical observation, it said.

Coronavirus' first epicentres Hubei and its capital Wuhan had 553 asymptomatic cases under medical observation, state-run Xinhua news agency reported. The asymptomatic cases were a cause of concern as the government has lifted over two-month lockdown in Hubei and Wuhan after cases abated.

Asymptomatic cases refer to people who are tested positive for the coronavirus but develop no symptoms such as fever, cough or sore throat. They are infectious and pose a risk of spreading to others.

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China has approved its third Coronavirus vaccine for the second phase of clinical trials as it reported 12 new COVID-19 cases, taking the total number of infections in the country to 82,816. The approved vaccine also includes one developed by Chinese military, the People's Liberation Army (PLA) for clinical trials. An "inactivated" vaccine developed by Wuhan Institute of Biological Products under the China National Pharmaceutical Group (Sinopharm) and the Wuhan Institute of Virology (WIV) started its clinical trials, state-run Xinhua news agency reported.

The inactivated vaccine consists of virus particles, bacteria, or other pathogens that have been grown in culture and then lose disease producing capacity. In contrast, live vaccines use pathogens that are still alive. WIV has been in the eye of the storm in recent weeks as US President Donald Trump and top American officials alleged that the Coronavirus may have escaped from there and demanded a probe into it. An official of the WIV denied it, terming the allegation "entirely based on speculation".

A total of 96 persons in three age groups have received the vaccine in the first phase of clinical trial as of April 23. The vaccine has shown good safety results so far and vaccine receivers are still under observation, said the Chinese pharmaceutical company Sinopharm.

72 therapeutics trial underway, 211 in planning stages in the US

A top Trump administration health official has said that as many as 19 therapeutics trial are underway and 211 in planning stages in a bid to find the cure for Coronavirus. "We are leaving no stone unturned to find the antidote for Coronavirus... We don't have any approved therapeutics for the virus but we are actively involved with the academic, commercial and private sector to find it," FDA commissioner Stephen M Hahn told reporters at a White House news conference.

"Seventy-two trials of therapeutics are underway in the United States under FDA oversight and 211 are in the planning stages, so we expect to see more. This includes convalescent plasma as well as antiviral therapies," Hahn added. According to Hahn, work is continuing on finding a vaccine. FDA has authorised two firms on vaccine trials. Hahn said that the FDA has told manufacturers that in order to market anti-body tests in the US, they have to validate their tests.

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The White House released new guidelines Monday aimed at answering criticism that America's coronavirus testing has been too slow, and President Donald Trump tried to pivot toward a focus on 'reopening' the nation. Still, there were doubts from public health experts that the White House's new testing targets were sufficient. Monday's developments were meant to fill critical gaps in White House plans to begin easing restrictions, ramping up testing for the virus while shifting the president's focus toward recovery from the economic collapse caused by the outbreak. The administration unveiled a 'blueprint' for states to scale up their testing in the coming week, a tacit admission, despite public statements to the contrary, that testing capacity and availability over the past two months have been lacking.

The new testing targets would ensure states had enough COVID-19 tests available to sample at least 2.6 per cent of their populations each month, a figure already met by a majority of states. Areas that have been harder hit by the virus would be able to test at double that rate, or higher, the White House said. The testing issue has bedeviled the administration for months. Trump told reporters on March 6 during a visit to the CDC in Atlanta that 'anybody that wants a test can get a test,' but the reality has proved to be vastly different. The initial COVID-19 test developed by the Centers for Disease Control and Prevention was contaminated, and early kits operated only on platforms able to perform a small number of test per day. While the rate of testing increased as tests developed for higher-capacity platforms, they were still limited by shortages of supplies, from nasal swabs to the reagents used to process the samples.

Administration officials maintained Monday that the limiting factor now is actually the availability of samples from people who have been tested ' either because guidelines on who could be tested are too stringent or because there are not enough health workers able to take nasal swab samples from them. The CDC moved to address one of those concerns Monday, expanding the list of people to be prioritized for virus testing to include those who show no symptoms but are in high-risk settings like nursing homes. And Trump met with leaders of businesses including CVS, Walmart and Kroger, who said they were working to expand access to tests across the country. 'Testing is not going to be a problem at all,' Trump said later in the Rose Garden.

However, many of the administration's past pledges and goals on testing have not been met. Jeremy Konyndyk, a disaster preparedness expert who helped lead the Obama administration response to Ebola, said the administration's testing plans are well short of what is needed. Researchers at Harvard have estimated the country needs to be testing a minimum of 500,000 people per day, and possibly many more. Konyndyk said the aim should be 2 million to 3 million per day. Trump said the current total, up sharply in recent days, is over 200,000 per day. Konyndyk said, 'Over the past month, we've doubled or if you want to be really generous tripled the testing capacity in this country. We need to take where we are now and expand it 10-fold."

The testing blueprint for states provides details missing from the administration's guidelines for them to return to normal operations that were released more than a week ago. It includes a focus on surveillance testing as well as 'rapid response' programs to isolate those who test positive and identify those with whom they had come in contact. The administration aims to have the market 'flooded' with tests for the fall, when COVID-19 is expected to recur alongside the seasonal flu. Trump and administration medical experts outlined the plan on a call with governors Monday afternoon, before unveiling them publicly in a Rose Garden press conference. The White House announcements came as Trump sought to regain his footing after weeks of criticism and detours created in part by his press briefings.

Days after he set off a firestorm by publicly musing that scientists should explore the injection of toxic disinfectants as a potential virus cure, Trump said he found little use for his daily task force briefings, where he has time and again clashed with medical experts and reporters. Trump's aides had been trying to move the president onto more familiar and, they hope, safer, ground: talking up the economy in more tightly controlled settings. Republican Party polling shows Trump's path to a second term depends on the public's perception of how quickly the economy rebounds from the state-by-state shutdowns meant to slow the spread of the virus.

On Monday, the White House initially announced there would be a Trump briefing, but canceled it as Trump's greatest asset in the reelection campaign ' his ability to dominate headlines with freewheeling performances ' was increasingly seen as a liability. But hours later, Trump it became clear Trump had other ideas. He held court in the Rose Garden for a bit less than an hour. Spokeswoman Kayleigh McEnany said that briefings would be held later in the week but 'they might have a new look to them, a new focus to them.' Trump said he hoped that virus deaths would end up no more than 60,000 to 70,000, slightly revising upward his public estimate of recent days as the U.S. toll neared 56,000 on nearly 1 million cases.

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

India's Central Board of Direct Taxes has launched a new consultation on proposals to amend Article 7 of India's double tax treaties on permanent establishment, and rule 10 in the Income Tax Rules, 1962, to establish a formula to bring within the charge to Indian tax a proportion of profits of a multinational deemed to have a significant digital presence in India. The country is considering using a formulary apportionment approach, akin to that proposed under the EU's Common Corporate Tax Base initiative.

India's GST Council agreed a number of changes to the country's goods and services tax regime, at its meeting on September 20, 2019.

The Dutch Ministry of Finance announced on February 1, 2019, that the work-related costs scheme will be improved from 2020.

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

The European Council on November 10 authorized the signing of an agreement with Switzerland to link their emissions trading systems.

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

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

The Swiss Federal Council has approved an OECD multilateral convention designed to prevent BEPS-related abuse of the international tax treaty system.

Xiaomi has finally launched the Mi 10 in India, and with starting price of Rs 49,999, it goes up against the likes of the OnePlus 8 and the OnePlus 8 Pro, which were recently launched in India. Here it is compared with the OnePlus 8 Pro.

Panasonic has prepared for staggered operations at retail and brand stores that have been recalibrated to abide by social distancing norms and deployed all safety measures such as placement of sanitisers, mandatory usage of masks, and contact-less assistance to consumers