If everything goes according to plan, India will be able to reap the fruits of its favourable demography over 2030s and 2040s, before she loses that edge in the 2050s, according to economists.
Researchers in Brazil said it was 50.4% effective at preventing symptomatic infections, barely enough for regulatory approval and below the 78% announced a week earlier.
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.
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.
While there are around 70,000 vaccinators in the public sector, the private sector is likely to contribute around 30,000 more, including doctors, nurses and lab technicians who can innoculate people once a vaccine against SARS-CoV2 is approved in the country, official sources said.
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.
The COVID-19 pandemic had a massive impact on the Indian aviation sector in 2020 and major airlines facing losses and challenging times laid off employees, sent them on leave without pay, or cut their salaries. The government also had to extend the deadline for submitting bids for Air India five times during the year.
These numbers are being computed by the health authorities as they gear up for a massive immunisation programme to begin as soon as a coronavirus vaccine is available. The Centre will procure the Covid-19 vaccines directly from drug makers and distribute them to the states.
Covid-19 showed the Indian healthcare system bursting at its seams at the height of the pandemic; patients turned away, doctors and nurses exhausted in their PPE kits.
At 4%, India’s total healthcare expenditure as a % of GDP is amongst the lowest globally.
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.
The pandemic found three of the world’s most prominent democracies shockingly underprepared, governed by leaders as incompetent as they were deluded and encumbered with states that had steadily rendered themselves incapable of performing their most basic duty: protecting human lives.
Domestic rating agency Icra has a stable outlook for the sector in the long-term outlook, given the swift rebound in occupancy as well as structural factors. It expects occupancy to bounce back to 60 per cent in 2021-22 from around 50 per cent in 2020-21, helping push revenue growth to around 20 per cent in 2021-22 as against an estimated 19 per cent contraction in 2020-21.
Who gained, who lost? ETtech takes stock of the changing startup fortunes in a pandemic-marred year.
The National Council for Applied Economic Research (NCAER) on Tuesday hosted a virtual discussion titled ‘The Challenge of Vaccinating a Billion Indians: How to meet it?’ to deliberate some of these issues.
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.
With most organisations expected to follow a hybrid working model next year, threats persist for remote work infrastructure as well. Bitcoin prices at an all-time high also raises the spectre of stealthier crypto-miners.
Government experts maintain that the Indian economy will come back to pre-Covid levels by the next financial year (2021-22) as it is recovering faster than expected. The committee, headed by former minister and BJP MP Jayant Sinha, has decided to prioritise the long-term impact of Covid-19 on the global economy.
While the government may offer subsidised rates for low-income groups, the center would most likely not foot the entire vaccination bill.
The Eurostat figures for December gave the 19-nation zone an inflation reading of minus 0.3 percent, the same level as in November. It has been negative since August.
Based on assessments made by different analysts and industry body Ficci, here is an impact analysis in healthcare sector.
“India has the world’s largest vaccination programme. We already have a robust system of electronic vaccine intelligence network (eVIN), through which realtime information of vaccine stock availability and their storage temperature across all cold-chain points is available,” Health minister Harsh Vardhan said.
"We have registered our interest to seek vaccines for our employees, in accordance with the priorities and sequence to be specified by the government," a Mahindra Group spokesperson said in a statement.
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.
At the close, the blue-chip CSI300 index was up 0.92% to 5,417.68, its highest since January 16, 2008, while the Shanghai Composite index was up 0.63% at 3,550.88.
The first case of coronavirus infection in the country was recorded on January 30 in Kerala and the first death on March 10 in Karnataka. By September, India became the second worst-hit nation, after the US, in terms of COVID-19 cases.
Group Chief Operating Officer Anil Vinayak says this will also fasttrack the adoption of other technologies in the delivery of healthcare in 2021. Greater consolidation in private healthcare, driven by patients seeking out
Key factors that will determine the pace of recovery in the domestic market are development and availability of vaccines, people’s willingness to undertake leisure travel and recovery in macroeconomic growth.
The UAE economy is expected to shrink by 6.6% this year, the International Monetary Fund (IMF) has estimated, as vital sectors such as transportation and tourism have been badly hit by the coronavirus.
India’s online pharmacy sector, dominated by Pharmeasy, 1mg and Netmeds, was among the biggest beneficiaries of the pandemic-induced lockdown. Now, Reliance, Tata and Amazon are looking to make the most of the boom.
Listing the recommendations by the National Expert Group on Vaccine Administration for COVID-19 (NEGVAC), he said the committee has stressed that every single Indian who needs to be vaccinated will get the shots.
The first patients in line on what has been dubbed "V-Day" -- the over-80s, care home workers and at-risk frontline health and social care staff -- will roll up their sleeves for an initial dose from early morning.
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.
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.
A victory by former Vice President Joe Biden over President Donald Trump on Nov. 3 and a potential Democratic takeover of the Senate could clear the way for prescription drug price and healthcare coverage reforms, generally seen as potential negatives for companies in the sector.
The sector is learning, innovating and rising from disruptions to put the worst behind and looking forward to the new year with optimism and new-found confidence.
As the UK has covered nearly 138,000 people in the first week of the Pfizer/BioNTech vaccine rollout across the country, the study commissioned by the Royal Society for Public Health (RSPH) found that three in four (76 per cent) of the British public would take a COVID-19 vaccine if advised to do so by their doctor, with just 8 per cent stating they would be very unlikely to do so.
The scars of the Covid-19 pandemic will take time to heal. But as the issues are understood better, India’s hospitals have learnt some precious lessons.
Mandating vaccines would be especially important to help protect workers in minority.
PM Modi holds virtual summit with Italian counterpart; discusses ways to deal with adverse impact of COVID-19
In his opening remarks at the virtual bilateral summit with the Italian leader, Modi said it is clear that the COVID-19 epidemic will remain a watershed in history just like the Second World War.
Construction, Aviation and hospitality sectors could take longer to recover from Covid impact: Report
Beginning April this year companies in construction, aviation and hospitality sector have seen huge impact on their profitability and revenues. Some of the companies are still seeing huge impact on their cash flows say industry trackers.
“Spiking coronavirus cases in various regions and inconsistent travel restrictions will keep airline traffic low at least through the first part of 2021, with limited improvement expected relative to levels in 3Q20 and 4Q20,” the report said.
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.
Market consolidation continued in the favour of grade I players. While sales have declined overall during the first half of 2020-21, grade-I residential developers witnessed a lower on-year decline in sales of 13%. Pre-sales for the top 10 listed players during the period stood at 12.3 million sq ft.
The U.S. Centers for Disease Control and Prevention plans to send daily texts to those who are vaccinated for the first week and then weekly texts for six weeks, while the Food and Drug Administration will also be monitoring side effects in real time.
At the close, the Shanghai Composite index was down 0.27% at 3,598.65, while the blue-chip CSI300 index fell 0.33%.
A significant portion of the middle class is still unprotected. India would do best with a public-private partnership of insurance companies, the government and private healthcare providers to give quality healthcare to the middle class at an affordable cost.
In a letter to Modi, the CM said despite its relatively low caseload, Punjab has higher fatality rate due to coronavirus, and, therefore, it needs special attention in the allocation of the vaccine once available.
The Union Health Ministry on Tuesday said six people who returned to India from the UK recently have tested positive for the new mutated variant called VUI-202012/01, sparking worries that India's fight against the disease has gotten more complex just as its daily COVID-19 count was falling.
The U.K.’s National Vaccine Taskforce spread its bets early on, putting in orders for 340 million vaccine doses among six different vaccine candidates. Pfizer’s vaccine is one of them and Britain should be an early beneficiary, receiving a total of 40 million doses of the vaccine and possibly a portion of that before Christmas.
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.
With the supplier base of a majority of components in the Indian auto industry not diversified, the report -- Non-linear automotive supply chain - COVID-19 and Beyond -- said the impact of the global health crisis on the industry has been deep-rooted.
The Indian pharma industry has been a world leader in generics both globally and in domestic markets.
Flights have started ferrying the vaccines to different cities from Pune from Tuesday morning. According to the purchase order placed on Monday, each dose of the vaccine has been priced at Rs 200 and with GST of Rs 10, it would cost Rs 210.
Nestle gained 0.6% as it raised its guidance for 2020 organic sales growth, while strong demand for pet food and health products helped quarterly results.
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.
In an advisory to states on setting up coordination committees for distribution of the Covid-19 vaccine, the health ministry has said introduction of the shots will span over a year with multiple groups being included sequentially, starting from health care workers, while also asking governments to be vigilant about disinformation on social media.
According to a report by Reuters, airlines and airports will ask a UN-led task force meeting on Tuesday to recommend countries accept a negative COVID-19 test within 48 hours of travel as an alternative to quarantines that have decimated demand for travel.
We wanted to harness the outpouring of generosity during Covid-19 and scale it: Atul Satija, CEO, GiveIndia
ICRF worked across three key programs: Cash relief, humanitarian aid and addressing healthcare needs for frontline workers and hospitals. For the flagship mission — Support COVID-19 Hit Families we partnered with non-profits across the country to help daily wagers and migrant workers who had lost their means of earnings, Satija said.
In 2018-19, India's spending on health sector was 1.5 per cent of GDP. In contrast, in European countries, spending on the health sector is 7-8 per cent of GDP.
The government has said it will deploy its vast election machinery to deliver 60 crore doses of Covid vaccines to 30 crore Indians, including healthcare & frontline workers, priority groups above the age of 50 and those under 50 with comorbidities.
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.
SII manufactured Oxford University-AstraZeneca's vaccine Covishield, while Bharat Biotech developed the other vaccine Covaxin that is being administered in the inoculation drive.
A look at the top performing categories will show that many equity mutual fund schemes gave high double-digit returns. Many of them even surpassed the 50% mark.
COVID-19 led to supply chain disruptions and production halt in the latter half of March 2020.
That mistrust, and the reliance of dozens of poorer nations on China to inoculate their populations could set the stage for a major global political headache if citizens offered the Chinese vaccine feel they are being given an inferior product.
The contraction in the euro zone's second-largest economy was steeper than the 10.1% reported by Germany, where authorities kept a surge in COVID-19 related deaths in check and did not have to enforce a lockdown as strict as France's.
Emkay Global says the fall in crude prices and moderating agri-input prices should drive margin gains for most staples.
Consumer discretionary and industrials are two sectors we should watch out for in the ensuing months and days.
India is already the pharmacy of the world, Kiran Mazumdar-Shaw said, and hoped for more engagement of the government’s imagination with the sector. “Sixty per cent of the vaccines that are produced for the world come from India, why are we not really thinking about vaccine diplomacy for the world?” she asked.
Ajit Mishra, VP - Research at Religare Broking said, "Nifty has tested the lower band of the prevailing rising broadening formation around 13,150 and its breakdown could trigger a further decline towards the 12,700-12,800 zone. In case of a rebound, the 13,400-13,600 zone would act as a hurdle."
IRB Infra, Indiabulls Real Estate, Snowman Logistics are some of the companies which will disclose their December quarter earnings during the day.
This special COVID-19 immunisation programme would run in parallel with the Universal Immunisation Programme, but will use its processes, technology and network of the existing vaccine distribution framework, sources said.
Britain, like other countries in Europe, is currently in the grip of a resurgence in COVID-19 infections, with much of the country under local restrictions and more than 21,000 daily cases reported on Tuesday.
"There are some 2.6 lakh employees in the state working in the health sector who will get the vaccine dose in the first round. As many as 16,245 employees have been registered on the government's Co-vin portal," the senior health department official said.
A panel of outside advisers to the U.S. Food and Drug Administration voted overwhelmingly to recommend emergency-use authorization of a vaccine developed by Pfizer Inc and its German partner, BioNTech SE.
"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.
Having endured and managed to recover from the disruptions induced by a once-in-a-century event, the Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world, although a lot will hinge on how the economy grows.
The timing, duration and efficacy of the nation-wide lockdown imposed earlier in the year may continue to be questioned in the years to come. However, by clamping down hard, wide and early, India has firmly shifted the Covid debate to economic recovery – at a time when the Western world is struggling anew with the imminent prospect of greater restrictions and lockdown.
In the first half of the fiscal, ACMA said the turnover of the automotive components industry stood at Rs 1.19 lakh crore (USD 15.9 billion), registering a de-growth of 34 per cent as compared to Rs 1.82 lakh crore (USD 26.2 billion) in the first half of the previous fiscal.
At a time when the private sector is witnessing mergers and acquisitions, the central government scrapped its earlier plan to merge National Insurance Company Ltd, Oriental Insurance Company Ltd and United India Insurance Company Ltd into one.
The pandemic has yet again brought home the truth to investors that healthcare in India cannot be run like any other business.
“The mutations have not led to any change in symptoms and treatment strategy. According to current data, the vaccines in the trial phase (which are up for emergency authorisation) should also be effective against the new (UK) strain,” he told.
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.
According to a blueprint deliberated upon by an expert group, state governments would identify buildings which can be used as vaccination booths under the special COVID-19 immunisation programme that would run parallel to the existing Universal Immunisation Programme (UIP).
PM-KISAN ensures 100% funding from Government of India.Under the Scheme an income support of Rs.6000 per year is provided to all farmer families across the country in three equal installments of Rs 2000 each every four months.
Regulatory endorsement is a welcome boost for AstraZeneca and the Oxford team, which have been accused of a lack of clarity about the results from late-stage trials.of the new variant but expect that their shots will be effective against it.
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.
The robot helps address the limitations of manual Covid swab tests by reducing the need for trained manpower.
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.
Covid-19 hits the economy. Growth to slow. Check the sector-wise impact and the ratings by various agencies.Sector-wise impact of Covid-19 given by various ratings agencies
The number of coronavirus cases in India rose to 29, including 16 Italians touring through Rajasthan, the government said on Wednesday. The trade impact of the coronavirus epidemic for India is estimated to be about $348 million. The country now figures among top 15 economies most affected by the manufacturing slowdown in China, says a UN report. This is how Confederation of Indian Industry put forth the impact analysis for various sectors:-
How and if India decides to work with its large network of private hospitals on vaccine distribution could be crucial to any success in reining in the world’s second-worst outbreak, which has inflicted deep economic damage. India may start inoculation efforts within weeks as front-running developers apply for emergency authorization.
"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.
When the first shots arrive, they're unlikely to be recommended for children.
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.
New Delhi, Mar 24 (ANI): Prime Minister Narendra Modi on March 24 addressed the nation over the dreadful COVID-19 virus spread. While addressing the countrymen he sanctioned 15,000 crore to strengthen healthcare and to give boost the war against COVID-19.COVID-19: PM Modi announces 15,000 Cr package to strengthen healthcare
TCS, Infosys and HCL will be hit by the reduced technology spending by clients in the US and Europe.
Women make a much stronger neutralising antibody response to the coronavirus than men: Gagandeep Kang
In work & personal life, the load on women has increased since pandemic started, says Kang.
Market nervousness can have some bearing on the valuations of smallcap and midcap stocks. But over a long period of time, stock prices tend to follow the fundamentals and earnings growth, says Vinit Sambre.