The Economic Times
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| 19 January, 2021, 04:16 PM IST | E-Paper

    Coronavirus Impact: India Inc to go soft on executive appraisals

    With some sectors recovering much faster than others, experts said top executives of some companies may get decent salary increases while some others may have to take a pay cut.

    Living with less: How pandemic has inspired some people to make permanent changes in their lives

    During the lockdown, people were forced to make do with less. Now, some are carrying on with this life lesson, cutting down on city life, eating out, new clothes.

    CitiusTech expects Covid-19 impact to boost business in FY22

    CitiusTech expects to grow at more than 20%, in line with its ambition to cross $500 million in revenue over the next 4-5 years, CEO Rizwan Koita says.

    2020 Year in Review | Covid-19 split startup world into haves, have-nots

    Who gained, who lost? ETtech takes stock of the changing startup fortunes in a pandemic-marred year.

    What will be tax impact on NRIs stranded in India due to novel coronavirus pandemic

    An NRI stranded in India due to coronavirus travel restrictions would require to check the conditions to decide whether there could be additional tax implications on him due to remotely working from India for his/her foreign employer.

    Indian-American business owners call for revitalisation policy after impacted by pandemic

    Noting that the pandemic has bought them on the verge of bankruptcy, the small business owners rued that the steps being taken by the current administration has not been able to rescue them from this crisis.

    When business as usual was turned upside down

    A staggering 6.6 million people applied for unemployment benefits in one week at the end of March as the coronavirus outbreak ravaged nearly every corner of the U.S. economy.

    Ford pulls plug on plans to cede India business to Mahindra, cites pandemic

    The future of Ford’s business in India is unclear as it has struggled for more than two decades to grow in the world’s fourth-largest auto market. “The company is actively evaluating its businesses around the world, including in India,” Ford said a statement.

    Saudi non-oil private sector keeps growing as COVID-19 impact eases: PMI

    The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) rose to 54.7 in November from 51.0 in October. The 50.0 mark separates growth from contraction.

    BJP pushes budget relief for middle class, business in wake of virus

    Bharatiya Janata Party (BJP) feels that while the poor received free rations and businesses got state-guaranteed loans and other concessions, the economy will benefit from slimming the tax bill for the middle class with more generous standard deductions.

    Coronavirus spurred changes to global workforce to be permanent

    ILO has estimated that the impact of huge job losses worldwide is creating a fiscal gap that threatens to increase inequality between richer and poorer countries. It estimated that global labour income declined by 10.7 per cent, or $3.5 trillion, in the first three quarters of 2020, compared with the same period in 2019, excluding government income support.

    A pandemic atlas: How COVID-19 took over the world in 2020

    More than any event in memory, the pandemic has been a global event. On every continent, households have felt its devastation, joblessness and lockdowns, infirmity and death.

    No vaccine, no entry! Is it possible for offices to allow only vaccinated employees resume work?

    Mandating vaccines would be especially important to help protect workers in minority.

    Memories: What 2020 meant for business leaders and other prominent personalities

    As the year draws to a close, ET Magazine reached out to a cross-section of people — politicians and bureaucrats, diplomats and CEOs, activists and artists, writers, sportspersons and actors — to ask what their diary entry for 2020 would read like.

    How have Indian businesses been impacted during and after the lockdown?

    Covid created various operational and financial challenges for Indian businesses. During the lockdown, approximately 71.31% of the businesses dealt with reduced cash flows with the manufacturing sector being the worst hit. Additionally, delay and cancellation of projects have also been a major cause of concern, especially in the tertiary sectors.

    Indian businesses resilient despite novel coronavirus impact: HSBC's Navigator report

    According to report, almost half (46%) of Indian businesses covered under a survey felt 'very strongly' impacted by the pandemic, yet more than half (54%) felt they were as well prepared as they possibly could be. This is a level that is the second highest amongst all countries surveyed and higher than the average across all markets (45%), said the report.

    Bill Gates, the coronavirus and the quest to vaccinate the world

    If the initiative, aided by Gates’ fortune and focus, manages to help protect the world’s poor from a virus that has already killed more than 1.3 million people, it will affirm the strategies he has promoted in his philanthropic work, including incentives for drug companies.

    How to negotiate your salary during the coronavirus pandemic

    Negotiating salary in normal times is stressful. It becomes even more stressful during pandemic times if you have been through salary cut or received a pink slip. Here is how you can talk to your manager about the revision of pay during the pandemic

    Staycations, business trips by SME owners helped Oyo stay afloat amid pandemic: Ritesh Agarwal

    Agarwal said that Oyo’s domestic revenues "was down to nothing" in the initial months of the coronavirus-induced lockdown which crippled the travel and hospitality industry in India.

    Vaccine breakthrough from Moderna lifts global hopes against coronavirus pandemic

    The news from the US biotech firm Moderna comes after similar results were announced last week for a vaccine candidate developed by pharma giant Pfizer and its German partner BioNTech.

    Retailers estimate 85% recovery by June 2021, says apex body RAI

    In November, consumer durables and electronics category continued to recover with sales at 12% year-on-year. Food and grocery category indicate sales growth at 5% year-on-year and apparel and clothing segment is still under pressure with about -12% year-on-year behind pre-pandemic sales, the survey added.

    Why your future financial losses are likely to be much heavier than future gains

    Expect the unexpected, and expect the unexpected to be worse than the expected. Think of the concept of a financial stress test and check if your investments as well as your financial life (as well as life in general) can manage a bout of severe problems.

    Five things CEOs can do to make 2021 work

    Unleash the power of the frontline. Growth will come as a result of meeting customers and their changing demands where they are. Your frontline is where to find them. Businesses have become progressively more complex, and as a consequence, in many cases, the frontline has been lost in that matrix. Now is the time to simplify and to give the frontline more power.

    Ford-Mahindra deal called off due to high costs, pandemic impact

    Automakers Ford and Mahindra & Mahindra have called off their deal to form a joint venture company to acquire the former’s India business, citing higher than expected capital requirement and changed business economics due to the impact of the coronavirus pandemic.

    Covid Impact: Top business schools defer placements by close to four weeks

    This postponement, say the institutes, is partly because of the delay in starting the academic year and partly because they are hoping for the situation — including the hiring sentiment — to improve by the time they start the process. Summer placements typically start around October or early November at most B-schools.

    Manufacturers to step up hiring at IIMs, IITs as business recovers

    At least a dozen manufacturers in sectors such as automobiles, metals, mining, energy, infrastructure, healthcare and consumer goods said they plan to hire 250-600 graduates each this year.

    View: A dekko at the lay of the land post-Covid that will present new threats and opportunities

    The State not just makes policy — industrial policy, urban planning guidelines — but plans for the economy and regulates huge swathes of it. When governments set targets for net zero emissions, they embrace planning. From telecom to financial markets and potential abuse of market dominance, everything is regulated.

    India’s economy shrinks sharply as Covid-19 slams small businesses

    The latest data firmly establishes India’s position among the worst-performing major economies, despite government spending meant to blunt the pandemic’s impact.

    Businesses braced for the catastrophic impact of COVID-19. The blow may have been milder

    It was believed that smaller companies cannot absorb the economic impact of COVID-19 and many would simply shut shop. Six months later, it seems the fears may have been exaggerated.

    Japan's daily coronavirus cases hit record as state of emergency looms

    Without new measures, daily infections in Tokyo could nearly triple to 3,500 per day by February and hit 7,000 by March, according to simulations by Kyoto University scientist Hiroshi Nishiura.

    It's not a 'Happy Diwali' for firecracker industry as Covid fear looms

    Governments have banned crackers as bursting these will lead to a spike in air pollution and that, with the winter air, could affect Covid patients. Besides, discouraging people from getting together to burst crackers would also help in controlling the spread of the infection.

    The Swiss cheese model of pandemic defense

    The metaphor is easy enough to grasp: Multiple layers of protection, imagined as cheese slices, block the spread of the new coronavirus, SARS-CoV-2, the virus that causes COVID-19. No one layer is perfect; each has holes, and when the holes align, the risk of infection increases.

    Startup Jobs | [24] steps up hiring in India amid the pandemic

    [24], a customer engagement solutions provider, has added 2,500 people to its workforce, primarily in Bengaluru and Hyderabad. About 80% of [24]’s employee strength is currently working from home.

    Coronavirus pandemic is the catalyst to speed up technological changes, says Anand Mahindra

    "The crisis has shaken up the way we view the world and exposed the fault lines in our society. It has also emphasised the necessity for quick and relevant solutions for the new world that is rising from the ashes of the old," said Mahindra.

    Normal operations of Dredging Corporation of India Ltd impacted due to COVID-19 induced lockdown

    It also imposed unusual delays in both dry-docking/running repairs in yards, impeded conducting surveys and resulted in the postponement of securing new work orders, the annual report for 2019-20 said.

    Disney to lay off about 28,000 theme parks unit employees due to coronavirus' impact

    Disney shut its theme parks worldwide when the novel coronavirus began spreading this year. All but Disneyland - nicknamed the Happiest Place on Earth - reopened, though the company was forced to limit the number of visitors to allow for physical distancing.

    UN report cites ISRO efforts in assisting Indian government to contain COVID-19 pandemic

    The UN report 'Geospatial Practices for Sustainable Development in Asia and the Pacific 2020' cites the role being played by 'BHUVAN', the national geo-portal developed and hosted by ISRO comprising of geo spatial data, services and tools for analysis, in combating COVID-19.

    Collaboration, not confusion, is best response to coronavirus pandemic, says India at the UN

    Addressing the UN General Assembly special session on COVID-19, Secretary (West) in India's Ministry of External Affairs Vikas Swarup said on Monday the ongoing coronavirus crisis had "laid bare" the gaps that exist in global cooperation and governance structures of multilateral organisations.

    Covid impact on business not 'materially adverse' so far: Nestle India

    Nestle India continues to witness demand for most of its products and its focus in the immediate period is to make sure that its products are available to consumers. It has also resumed operations at all its eight plants and distribution centres/warehouses.

    Put livelihoods above lives; V-shaped recovery on: Jim O’Neill

    Most major economies opted for a strict shutdown earlier this year, in an attempt to limit the spread of the new coronavirus pandemic. These decisions had serious economic implications, and hurt businesses across the spectrum.

    How the coronavirus pandemic has changed the lives of working women

    Those who hold jobs that cannot be performed remotely are routinely losing their jobs. Unemployment in many economies has shot up as businesses do not have the wherewithal to pay salaries when there are no revenues to support them.

    New normal: Personal finance rules in a post covid world

    As coronavirus-led uncertainty still looms large, the best course of action for you would be to evaluate long-term goals, current income levels, likelihood of income loss and provisions for any emergent financial impact like health risks.

    Limited impact on Vedanta operations due to coronavirus lockdown: Crisil

    The company is expected to undertake cash preservation measures such as reduced capital expenditure (capex) and limited dividend payout in FY21, which shall support liquidity. Additionally, to preserve liquidity, Vedanta has availed moratorium on its term debt obligation as per RBI guidelines after approval from respective banks.

    How small businesses are adapting to survive the coronavirus crisis

    The innovation and creativity of small entrepreneurs offers an interesting case. There was a time when every small business would set for itself the target of when to seek venture funding, when to go public, and how to scale up and become large. These may not be the default goals after this crisis. There may be renewed respect for remaining small, local and niche.

    Dubai economy to grow 4% in 2021, rebounding from this year's contraction

    Dubai Statistic Centre said the economy declined by 10.8% in the first six months of 2020, which the centre's executive director, Arif Al Muhairi, said was within the expected range of economic contraction, given the massive global economic impact of the COVID-19 pandemic.

    India's top unicorn founders share their experience of building large businesses

    In the year 2020 alone, the country minted over 9 such new Unicorns, despite the disruption to businesses and the economy caused by the dreaded Covid-19 pandemic.

    Don’t burden taxpayers and depositors for business failures

    The government came up with subsidies and schemes to help the small businesses get access to funds and suspended a law that might have led to some losing their assets for defaulting on payments.

    Coronavirus: The biggest challenge right now is business continuity

    As the Covid-19 outbreak hits companies hard, CFOs like Vaish are bracing for what many are referring to as the toughest phase in their careers.

    New UK Covid strain infects Indian jet charter business

    While about 11,000 passengers booked on commercial flights scheduled during these days have to reschedule or cancel plans, businessmen, actors, casting crew and leisure travellers who booked these private jets will have to change New Year plans at the last minute.

    Covid-19 impact: Demand for rental accommodation in key cities starts easing

    The residential property market in metros such as Bengaluru, Mumbai, Delhi, Pune and Chennai have witnessed an increasing number of young professionals vacating rented homes and paying-guest accommodation, or asking for rent relief. Many such tenants have moved to their hometowns or are in the process of doing so, with companies also extending the work-from-home option as there is no let-up in the pandemic situation.

    LIC MD on how India can fight against the impact of Covid on economy

    "When you are looking at the manufacturing sector and the industrial sector, the growth essentially comes from an uptick in the spending, which is not happening," LIC Managing Director Vipin Anand says.

    Fed officials differ over economy's risks as coronavirus surges

    Daily new infections in the United States surpassed 163,000 on Thursday, crossing the 100,000 mark for a ninth consecutive day, and the death toll rose by 1,173 to a total of 242,982. Hospitals in some states are reaching capacity.

    View: Banking sector's renaissance after the pandemic

    Policymakers in India have acted swiftly and decisively on both fiscal and monetary fronts to cushion the impact. The slew of measures introduced over the last nine months have allowed banks to help the stressed and most impacted sectors of the economy to weather the shock effectively.

    Covid-induced contraction in creative economy, income loss: Report

    Signalling that during the pandemic, the creative industries continue to face a very uncertain future, the report shows that the creative economy is contracting, organisations are closing permanently to avoid bankruptcy, and creative businesses are contending with increasingly difficult choices to cut staff and overheads to ensure they remain resilient.

    Coronavirus impact on India's retail sector

    Emkay Global says the fall in crude prices and moderating agri-input prices should drive margin gains for most staples.

    Covid-19 impact: Automakers want flexible manufacturing for business after the pandemic

    In fast-moving mass production industries like automobiles, production schedules are rigid and optimised for efficiency. Similarly, supply chains work on schedules decided months in advance on the basis of demand projections. However, carmakers are now looking to redesign these systems to cater to an unpredictable demand environment.

    Coronavirus impact: Boeing reports big loss, hints at more job cuts

    The aerospace giant suffered a $2.4 billion second-quarter loss, reflecting the hit from much lower commercial plane deliveries as airlines suspend purchases due to falling consumer demand.

    India’s small businesses were struggling. Coronavirus may be their death knell

    The coronavirus outbreak is making small businesses across sectors struggle to make ends meet. With GST compliance issues, slow domestic demand and demonetisation already playing spoilsport, the virus scare has only added to the woes of SMEs in the country. ET Rise tells you how SMEs are trying to pull themselves together to tide through these tough times. Watch!India’s small businesses were struggling. Coronavirus may be their death knell

    Only a dozen large companies apply for Reserve Bank of India's coronavirus loan recast

    The Future Group, Shapoorji Pallonji Group and SpiceJet are among those who will apply for loan restructuring. Besides these, there are a couple of thermal power generating companies, a couple of toll road projects, and companies in the textile sector.

    Surviving the coronavirus pandemic: Important lessons from Germany's Mittelstand

    Commerzbank, the biggest lender to Mittelstand firms, also told Reuters that the number of companies going into "intensive care" was lower than it had feared and there was no rush by its clients to get new credit lines.

    Post Covid-19 consumer: How businesses can cope with the new normal

    As the economic disruption made consumers rethink consumption habits, movement restrictions served a body blow to most businesses. Conventional norms were questioned and established business strategies made way for quick-thinking and fast-adapting work processes.

    Tech firms spur rebound in India office leasing from decade low

    The technology sector dominated with 41% of total leasings across the second half of 2020 with Bengaluru, known as India’s Silicon Valley, seeing transactions rise 8% during the period from the previous year.

    Blackstone makes $800-million play for Piramal Glass business

    Partners Group, a Swiss private market investment manager, may submit a competing offer. Apollo Global Management and Renuka Ramnath’s Multiples Alternate Asset Management opted out, by not submitting binding offers.

    With people stuck at home due to the coronavirus lockdown, a writing boom has sparked

    The pandemic lockdown has not just spawned a wave of first-time authors - including celebrities who have a story to tell- but also encouraged many others to finally complete long-pending manuscripts.

    No more sleepless nights for Yes Bank CEO Prashant Kumar

    Yes Bank returned to profit in the quarter ended September and Kumar made provisions for potential covid-related losses.

    Suspension of fresh IBC proceedings, pandemic woes may hit resolution pace for stressed assets

    To provide relief for entities impacted by the pandemic, the government has suspended fresh proceedings under the Insolvency and Bankruptcy Code (IBC) starting from March 25, when the nationwide lockdown was imposed to curb spreading of coronavirus infections. The suspension has been extended till March next year.

    Economic impact of coronavirus has made consumers more likely to track spending: Survey

    76 per cent of the respondents in India said that the economic impact of COVID-19 has made them more likely to track their spending, with over 80 per cent either using or interested in using budgeting tools or tools that block card-spend over specified limits.

    Commercial leasing expected to reach pre-Covid level in next two-three quarters: DLF

    “India has global comparative advantage in terms of a very large English speaking, tech educated population below the age of 30. India also has a global cost advantage of the above talent pool in terms of low wage costs. The real estate costs add to this advantage,” said Sriram Khattar, managing director-rental business, DLF.

    Cities reboot: From revamped public transport to home-offices, will Covid-19 change urban life for good?

    Amid the Covid-19 pandemic, all corners of city life - from home to office, park to pub - are undergoing a makeover.

    Facebook’s AI mistakenly bans ads for struggling businesses

    Facebook has been automating content moderation for years, a transition it highlights in a quarterly report detailing how much content the company removes.

    View: The coronavirus isn't the end of your career

    If you’re in an industry directly hit by the virus, think about how your experience would be applicable to fields that have solid long-term prospects, like cybersecurity, robotics and artificial intelligence. These sectors aren’t just for coders and engineers; they need accountants, compliance officers, HR managers and communications teams.

    Michelin-star chef Vikas Khanna turns saviour, will help India's street vendors impacted by Covid-19

    The chef and author has coordinated a massive food distribution drive from his home.

    Coronavirus impact on healthcare sector

    Based on assessments made by different analysts and industry body Ficci, here is an impact analysis in healthcare sector.

    Luxury hotel in South India turns swimming pool into fish farm to recover losses

    The complex was forced to shut in March when a nationwide coronavirus lockdown was ordered.

    Coronavirus impact on India's pharma sector

    The Indian pharma industry has been a world leader in generics both globally and in domestic markets.

    Coronavirus Impact: US is expected to report a record-breaking economic plunge

    A huge plunge in consumer spending as people stayed home and avoided shopping, traveling or gathering in crowds as the virus raged is estimated to have sent the economy sinking at a roughly 32 per cent annual rate in the April-June quarter.

    Bird flu fear pulls down chicken prices by over 10%

    People in the poultry business, however, said the organised industry had not seen any cases of bird flu. They hoped that these reports would not impact sales and prices like the rumours in the initial months of the Covid-19 outbreak, when the spread of the coronavirus was linked to eating of chicken.

    Automakers log dip in fleet sales in September quarter amid coronavirus pandemic

    "There has been extreme aversion on the part of customers against shared mobility and public transport and they are obviously looking at personal transport. If we look at the figures in our portfolio, fleet sales which include shared mobility, in the second quarter there was a drop of 69 per cent," Maruti Suzuki India Executive Director (Sales and Marketing) Shashank Srivastava said.

    Outbound travel business falls by a third amid coronavirus fears

    Forward bookings for the upcoming busy summer season are down at least 20% year on year, senior executives at airlines and travel companies said. The Indian government also cancelled all visas issued to Iraninan nationals and all foreigners who visted Iran after February 1 this year.

    African free trade bloc opens for business, but challenges remain

    The African Continental Free Trade Area (AfCFTA) aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization.

    Phishing ploy targets COVID-19 vaccine distribution effort

    The researchers said they could not be sure who was behind the campaign, which began in September, or if it was successful. But the precision targeting and careful efforts to leave no tracks bore "the potential hallmarks of nation-state tradecraft," they said in a blog post Thursday.

    When is the Government going to respond? Businesses look for assistance as coronavirus starts hurting

    With their very existence at stake, many businesses are wondering what’s taking govt so long to provide a bailout.

    For hospitality and tourism sector, 2021 is all about survival, recovery

    Although the black swan event shook the very foundation of this vibrant and bustling sector, the players are putting up a brave front, optimistic to regain the "lost vibrancy in the latter half of 2021" and are banking on 'revenge travel' once the health crisis is controlled to help the sector recover.

    More measures soon to speed up economic recovery: Amit Shah

    India has been fighting war against the virus and also preparing itself to brace the economic slowdown due to the pandemic. “Corona can slow down our $5 trillion vision but will achieve the target successfully,” Shah said at an event to mark signing of pilot commercial coal mining agreements and launch of single window clearance system.

    Coming months going to be challenging due to coronavirus pandemic: Radico Khaitan's MD

    In his address to shareholders in the company's Annual Report 2019-20, Khaitan said, "In the current scenario, the company has adopted a deliberate and prudent approach which is not very different from our long-term strategy. First and foremost is the focus on strengthening our brand portfolio."

    Tougher UK coronavirus curbs may last some time, health minister suggests

    Matt Hancock suggested the tougher measures - which require about a third of the population of England to stay at home except for essential reasons such as work

    Covid-19 impact: Boeing slashes 12,000 jobs as virus seizes travel industry

    Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.Covid-19 impact: Boeing slashes 12,000 jobs as virus seizes travel industry

    American state of California nears an unwanted milestone - a million COVID-19 cases

    For months, the virus has hammered the economy, disproportionately affected the poor and upended daily life - and now the state and the rest of the country are trying to curb another surge of infections.

    Tractor makers need to innovate to grow volumes amid uncertainties due to the impact of COVID-19

    With domestic traffic expected to drop by 50% and international traffic by up to 60% this fiscal, demand for tractors is expected to remain in the aviation industry. The Indian construction too is expected to contract by 7.5% in 2020, which would result in a decline in tractor demand in the construction sector.

    Credit Suisse estimates Jio's EV to $88.5 billion propelled by non-wireless business, ARPU & subscriber growth

    According to Monday's note, Jio's EBITDA could be significant at $1.5-2.0 billion.

    Covid Impact: RBI to tighten oversight, initiate actions if necessary

    "In tandem with the evolving regulations, the supervisory approach of the Reserve Bank will have to be two-pronged - first, strengthening the internal defences of regulated entities; and second, greater focus on identifying the early warning signals and initiating corrective action," RBI said.

    India-Australia ties become comprehensive strategic partnership in pandemic-riddled 2020 as China looks on

    India and Australia, against the backdrop of their frosty relations with China, unveiled a ''shared vision for maritime cooperation in the Indo-Pacific'', a region which has been witnessing growing Chinese military assertiveness triggering concerns among major players.

    France to release USD 49 billion in economic stimulus next year to rescue economy from virus impact

    France's economy is expected to shrunk 10 per cent this year, in its worst recession since World War II. Earlier this month, French President Emmanuel Macron's centrist government unveiled a 100 billion-euro (USD 117 billion) recovery plan aimed at creating jobs and saving struggling businesses.

    Coronavirus impact: Tata CEOs to review 2021 business plans

    Covid-19 pandemic has severely impacted Tata's key overseas markets in Europe, the US, UK, China & UAE.

    Coronavirus impact: Big restaurants may walk out of malls to high streets

    Some marquee brands are looking at moving back to streets from malls because of Covid-19.

    Malls operators may offer relief to tenants due to impact of coronavirus on business

    Authorities in the NCR have ordered closure of cinema halls including multiplexes, a major draw for customers at malls, till March 31. With residents not coming out to crowded places also because of the coronavirus scare, most of the malls are witnessing a sharp decline in footfalls.

    It’s a Made-in-China holiday season for cooped-up Americans

    China's exports to the US climbed 46.1% to a record high of $51.98 billion in November. That surge has defied the expectations of U.S. politicians of both parties, who earlier this year predicted that the pandemic, which began in China, would be a moment for reducing trade with that country and finally bringing factories back to the United States.

    Explained: The potential impact of Brexit without a trade deal

    The shock result of Britain's referendum on leaving the EU in 2016 sent the pound down 8% against the dollar, its biggest one-day fall since the era of free-floating exchange rates began in the 1970s

    New career reality for the new decade: Trends that will affect your work, income and choices

    The biggest impact of the pandemic on businesses worldwide was to speed up the penetration and adoption of technology. Digitisation penetrated to the extent of eliminating travel for business, replacing it with virtual meetings everywhere.

    Festival related demand may be impacted by resurgence in Covid cases: Dun & Bradstreet

    The researchers believe that the resurgence of the virus where community transmission was not eliminated in the second quarter, alongside uncertainty about vaccines and treatments, means that some elements of such an adverse scenario will inevitably be realised.

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