The Economic Times
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| 19 January, 2021, 05:44 PM IST | E-Paper

    One year, 400,000 coronavirus deaths: How the U.S. guaranteed its own failure

    For nearly the entire pandemic, political polarization and a rejection of science have stymied the United States’ ability to control the coronavirus. That has been clearest and most damaging at the federal level, where Trump claimed that the virus would “disappear".

    Ten ways Covid-19 has changed the world economy forever

    Measured by output, the world economy is well on the way to recovery from a slump the likes of which barely any of its 7.7 billion people have seen in their lifetimes. Vaccines should accelerate the rebound in 2021. But other legacies of Covid-19 will shape global growth for years to come.

    How pandemic bonds became the world's most controversial investment

    The harshest critics of the World Bank's experiment have questioned whether it’s appropriate to tie responsibility for public health to private investment at all.

    Why easing taxpayers' load in Budget 2021 is a good idea

    Govt should cut taxes on individuals and firms and allow them to play a bigger part in the revival story. Confidence is back. An effective stimulus could address over-the-top taxation, such as cesses, which can be removed. It could also involve cash transfers to the poorer sections of the population, which will spend immediately.

    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.

    To keep EPFO viable, officials give House panel radical idea

    Sources said officials told the panel that EPFO had over 23 lakh pensioners drawing Rs 1,000 per month even when their contributions to the fund corpus had been less than a fourth of the benefits they were drawing. They also said this would be unviable for the government to support in the long run, unless a system of “defined contributions” was put in place.

    Coronavirus impact: Why the idea of diversification is looking like the old bridge on river Choluteca

    Don’t say or think that the markets are fine. That’s an illusion. As corporate results are coming in, one can see companies whose sales have halved or more. For some, sales have basically disappeared. The second and third order effects of the virus are yet to come out.

    Wall Street rallies on coronavirus vaccine trial results

    U.S. crude oil rose more than 8% and pushed up energy stocks while safe-haven U.S. Treasuries sold off after U.S. drugmaker Pfizer and its German partner BioNTech said a large-scale trial of their vaccine showed it was more than 90% effective in preventing COVID-19.

    New India believes in market forces, will be the most preferred investment destination: PM Modi

    PM Narendra Modi believes India can still achieve $5 trillion economy target by 2024 despite Covid-19. In his first interview, after the outbreak of the pandemic, the PM says his reforms drive will continue but states must also compete to attract investment.

    Ratan Tata on the 4 things India needs to keep in mind as it enters 2021

    Whether we find an effective vaccine or not, I am hopeful that we will eventually find some cure that will reduce the intensity of this pandemic. But it will be imperative for all of us to learn not to take this pandemic for granted.

    Stocks in the news: DLF, Vodafone Idea, Dish TV, Biocon, BPCL and PNB

    Vodafone Idea said that it has started using 3G spectrum for 4G services in Mumbai and claimed that customers in the metro city will get higher data speed with the refarming of spectrum.

    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.

    Vaccine storage issues could leave 3 billion people without access

    From factory to syringe, the world's most promising coronavirus vaccine candidates need non-stop sterile refrigeration to stay potent and safe.

    How publishers can invest in a privacy-forward future now

    Google is committed to helping publishers navigate today’s privacy environment, and what lies ahead.

    Is it a good idea to invest in ELSS funds now to save taxes?

    If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

    Billionaire banker Uday Kotak says now’s the best time to invest in India, lists 5 'right sectors'

    “I have always believed you have to invest in India when things look more challenging,” Uday Kotak, the managing director of Kotak Mahindra Bank Ltd. said.

    Gilead’s Covid drug is mediocre. It will be a blockbuster anyway.

    The company said that by December, it expected to have produced enough drug to treat 2 million patients and that it was studying an inhaled form of the drug that could expand its use to outpatients.

    This Rs 36,000 crore fund manager bets on largecaps to tide over Covid-19 crisis

    BSE’s top stocks barometer Sensex has eroded 23 per cent value year to date.

    Pandemic opens door to ideas new and old for a better economy

    Governments have cast aside dogmas to protect firms and jobs in the deepest peacetime recession in a century.

    Lockdown, Day 65: India faces a jobs paradox

    A United Nations University study estimates that 104 mn Indians could fall below the World Bank-determined poverty line of $3.2 a day for lower-middle-income countries but the picture of where the Indian economy is headed should be a bit clearer tomorrow when the GDP data comes out.

    Sputnik V vaccine 92% effective on COVID-19: Russia institute

    "We are responsible for monitoring the effectiveness of the Sputnik V vaccine among citizens who have received it as part of the mass vaccination programme," Oksana Drapkina, director of a research institute under the health ministry, said in a statement.

    View: With no real recovery, GoI needs to know why its splurges have been ineffective

    Sitharaman’s package this time is smaller than the May package. But that is not because of a fresh sense of responsibility or caution. She knows that she is getting close to the next budget. So, she will not have to wait too long to fling around more money.

    A $5 million prize spurs competition for new Covid-19 rapid test

    Currently, test results for the novel coronavirus can take up to two weeks, creating headaches for medical professionals, public-health experts and elected officials. Without the ability to test people often and with speedy results, many cases may go undetected, which can lead to new clusters of infections.

    Pandemic outside, paradise inside: How India's super-rich are dealing with COVID-19

    Amid work from home, their mega closets gather dust as loungewear becomes the new suits. Understandably, those periodic shopping trips overseas are off bounds. The summer skiing trips to the Swiss Alps have been cancelled. The coronavirus has been truly democratic in its rage, not sparing even the rarefied and gilded world of India’s super-rich.

    Coronavirus: Is there an alternative to lockdowns?

    If social distancing remains protracted, large parts of the economy would shut down. There would be a huge cost. To avoid this cost, should India as a nation try another strategy? Take the risk of allowing the epidemic to spread and treating those who fall ill? After all, only about a fifth of those who fall ill require hospitalisation.

    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 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.

    China firm uses workers to 'pre-test' coronavirus vaccine in global race

    China has positioned itself to be a strong contender. Eight of the nearly two dozen potential vaccines in various stages of human testing worldwide are from China, the most of any country. And SinoPharm and another Chinese company already have announced they're entering final testing.

    The week that was: Birlasoft, Tata Consumer among 10 key stocks that buzzed the most

    Shares of Vedanta saw huge demand after reports said promoters could buy up to 5 per cent in the company after a failed delisting bid. The scrip rose 10.38 per cent to Rs 162.65.

    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.

    GP Petroleums CEO has samosa fines for those who break safety guidelines

    Prashanth Achar shares how his company is trying to make back to office safer and more productive

    Stocks in the news: Vodafone Idea, ICICI Bank, RIL, Petronet LNG, NTPC, BPCL and Sobha

    Can Fin Homes, Petronet LNG, Suven Pharma and Sical Logistics are scheduled to report their quarterly results today.

    The future of healthcare: Your doctor’s just a click away

    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.

    Virus pushes Wendy’s to open hundreds of cloud kitchens in India

    Wendy’s, with 6,800 restaurants in 30 markets worldwide, followed rival burger chains like McDonald’s Corp. into India, opening its first restaurant in New Delhi in 2015. It plans about 150 physical stores over the next decade, in addition to the cloud kitchen push. Sierra Nevada Restaurants, the chain’s franchise partner, will help with both initiatives.

    View: Why Joseph Stiglitz is wrong on India’s Covid response

    Stiglitz bunched Brazil, US and India as having ignored the ‘experts’ and consequently mismanaged the Covid-19 response. This is odd, since India’s approach was completely different from the others, and was based on the best advice and information available at that time.

    Sanitisers on tables, thermoscanners at the door: Restaurateurs mulling unexplored ideas to survive Covid crisis

    A spontaneously driven meal for most is likely to be out of the question for now or till the time a vaccine for the Covid-19 virus is found. One foodie blogger admits he is no longer willing to shell out that kind of money going out since it is risky and the experience is likely to be diluted because of all the sanitary standards.

    Right time to invest in equities; go for SIP route: Experts

    Experts believe healthcare and telecom sectors are expected to perform well in this prevailing situation.

    Is it advisable for a newcomer to invest in mutual funds now?

    If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

    Indian telcos' mobile growth weakens on coronavirus; remains robust: Fitch

    FY20 (April 2019 to March 2020) fiscal EBITDA growth for the telecom industry is estimated at 25 per cent.

    Stock valuations don’t matter, Central Banks’ actions do

    The excesses are visible. The Price to Earnings (PE) ratio — a popular and simple valuation measure — of the Nifty is currently at almost a record 34 times reported earnings, as against the 10-year average of 21.7 and a 15-year average of 22.73. While this reading shows the market is overpriced or underpriced, what the PE ratio, which has been a fairly reliable valuation indicator historically, does not forecast is the timing of when the market will top out or hit the bottom.

    Don’t base investment thesis on Covid vaccine coming out soon: Invesco

    ‘We will have to be patient and hope for a vaccine but not bank on it anytime soon.’

    Pandemic did not stop India from economic reforms; US businesses can benefit from it: Indian envoy

    "The pandemic has not stopped India from undertaking some bold economic reforms.Almost every sector, barring a few, have been opened for FDI under automatic route, and with limits above 51 per cent," he said.

    Nokia, Voda Idea complete 1st phase of DSR deployment in India

    As part of the contract, Nokia has also deployed more than 5,500 TD-LTE massive Mimo (an advance 4G technology) cells in the 2500 Mhz spectrum band in eight circles (service areas) in Mumbai, Kolkata, Gujarat, Haryana, Uttar Pradesh (East), Uttar Pradesh (West), Rest of Bengal and Andhra Pradesh.

    US internet giant Google eyes stake in Vodafone Idea: Report

    Google is reportedly considering to buy a stake of about 5 per cent in Vodafone Idea.

    Saurabh Mukherjea says 3 sectors are readying for multi-year bull run

    Market veteran Saurabh Mukherjea says the economy would start to grow again by the end of 2020, and the equity market will stand to benefit from a barrage of flows if policymakers in developed economies continue with their fiscal stimulus.

    View: Nehru and science in the age of coronavirus

    With 422,829 infections, worldwide and 18,907 deaths and still counting, Nehruvian vision of science and his efforts in creating a scientific society gains immense importance and relevance. Science, according to Jawahar Lal Nehru, was the major triumph of the human mind which could liberate humankind from illness, want and misery.

    Ahead of Market: 12 things that will decide stock action on Friday

    Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “The market was seen struggling at the new highs, which could open further consolidation or weakness from the highs. Immediate support needs to be watched at 13,000 levels."

    Biden is facing high hopes, tough choices on border wall

    Biden faces immediate pressure when he enters the White House in January to fulfill a pledge to stop border wall construction.

    Almost everyone at SoftBank thinks going private is a bad idea

    Convincing Japanese banks to change their minds and finance the deal would be a tall order. SoftBank is already the country’s second-biggest debtor after Toyota Motor Corp., excluding financial firms, and it would probably need another $80 billion in financing for a buyout.

    SoftBank is winding down options trading after investor backlash

    Investors have questioned the rationale of a company known for its years-long bets on technology startups dabbling in public securities, especially derivatives.

    UK's new post-Brexit ‘simple' points-based visa system opens

    The UK Home Office said applicants for the new Skilled Worker Visa can now apply to work and live in the UK from January 1, 2021, when the Brexit transition period ends to bring European Union (EU) migrants in line with non-EU countries, such as India.

    Pass the coronavirus test? How banks and NBFCs can survive, and then thrive, in the post Covid-19 world

    COVID-19 is upending the banking sector while simultaneously forcing it to transform radically.

    The pandemic is showing us how capitalism is amazing, and inadequate

    The nine months of the pandemic have shown that in a modern state, capitalism can save the day — but only when the government exercises its power to guide the economy and act as the ultimate absorber of risk. The lesson of COVID capitalism is that big business needs big government, and vice versa.

    For the world economy, a grim slog tempered by new hopes

    With the US suffering its most rampant transmission yet and with major countries in Europe again under lockdown, prospects remain grim for a meaningful worldwide recovery before the middle of next year and far longer in some economies.

    Top World Bank economist explains the impact of coronavirus on foreign workers

    As lockdowns have shut banks and money-transfer offices, marooned migrants couldn't send money home.

    Rapid antigen tests are cheaper & give quick results but RT-PCR tests are more reliable, say scientists

    If someone has symptoms, he/she should be retested. The idea is that no positive Covid-19 cases are missed.

    Tweet Buster: Time to bet on microcaps; is the worst over for markets?

    Independent market expert Sandip Sabharwal says the worst could be over for global markets.

    China's virus fight brings 5G debate to the fore in India

    A critical piece of ammo the Chinese had was access to ultra-fast fifth generation wireless broadband networks. In fact, the hours of live video calls and video-conferencing to guide Chinese medical workers in the frontlines happened over 5G networks and the HD cameras, hospital robots and remote-controlled mobile trolleys were also powered by 5G.

    If you want to retire rich, don’t leave too much to your children

    Don’t be surprised if those retiring in 2035 need an extra 5 years or more of future income because of longevity alone. Where will that money come from in a low-yield environment?

    Nasdaq valuations say you’ll be stuck at home for a long time

    One way of quantifying how much investors expect of giant technology companies such as Apple Inc. and Inc. is to consider how much it will take for their profits to “grow into” existing valuations.

    Wall Street Weekahead: More U.S. companies offer earnings guidance despite pandemic

    Overall, 73 companies in the S&P 500 index have offered guidance this quarter so far, up from last quarter's 65 pre-announcements but well below the 170 companies that typically offer guidance, according to Refinitiv data.

    Is there a case for a Covid budget?

    The lockdown has turned finances upside down. The fall in tax revenue is going to hurt badly.

    Can coronavirus crisis change Indian science for good?

    It's unlike software. Vaccines, drugs and medical devices cannot be churned out overnight.

    Avoid fresh investments in debt mutual funds, for now

    We are going through very difficult times. At the moment, Coronavirus pandemic crisis and the government-enforced lockdown is causing the most pain.

    After European Union, what's next for 'Global Britain'?

    Britain formally quit the European Union in January this year but has continued to observe all its rules during a transition period.

    Valuation has no meaning now, we will invest when bottom is formed: Aveek Mitra

    We have got a substantial amount of cash but that does not mean we have profitably exited from positions, says the Aveksat Financial Advisory Founder & CEO

    Go overweight on equities, invest extra cash in a staggered way

    In the third round of lockdown, our challenge has been to restart the economy.

    Immunity passports for Covid-19 may lead to discrimination, intentional infections: Scientists

    Looking for ways out of the restrictive physical distancing measures imposed to control the spread of the novel coronavirus, several governments, including Chile, Germany, Italy, the UK and the US, have suggested the use of 'immunity passports'. Individuals in possession of an 'immunity passport' could be exempt from physical restrictions and may return to work, school and daily life.

    Qatar puts up 'for sale' sign with new property visas

    The reforms could also help soak up an oversupply of units, which has left gleaming towers half-empty and seen prices drop by almost a third since 2016, according to consultancy ValuStrat's Price Index for residential property.

    Coronavirus: Despite disruption and confusion, Covid-19 may push societies to change attitudes

    Cancelled flights. Crackdown on trade in wild animals. Mount Everest closed to climbers. Early impact in developed, high-consumption countries. Even earlier impact in China, which supplies these high-consumption societies.

    Sensex falls for 4th day on telecom woes, coronavirus fears

    The bears were in charge with losers outpacing gainers in the ratio of nearly 2:1 on BSE.

    Coronavirus to leave a legacy of unprecedented global debt

    Stimulus spending will pile more debt on countries already struggling with the aftermath of the 2008 crisis .

    Sensex, Nifty scale fresh record highs: Key factors behind market rally

    E-mini futures for the S&P 500 jumped more than 1.5 per cent on Monday while Nasdaq futures rallied over 2 per cent, signalling a positive start for U.S. markets.

    Why the Biden economy could be the same slog as the Obama economy

    There are ways the Biden economy might escape the slow-growth economic outlook, if the Senate goes along with enough coronavirus rescue funds to prevent widespread business failures and sharp pullbacks by state and local governments.

    View: Coronavirus pandemic may force world to rethink globalization

    The world may not spend time deliberating the merits and demerits of globalization after the pandemic is contained. But, it may like to reposition its larger objective and approach. Care, compassion, and cooperation among the global community may become the new mantra.

    Foreign Secretary & Army Chiefs Myanmar visit to boost local leaderships vision ahead of polls

    Security cooperation is getting stronger in recent years in the fight to end insurgency in India's northeast. In a big win for India’s back-door diplomacy, 22 Indian insurgents were handed over for the first time by Myanmar in May, bringing Naypyidaw in sync with New Delhi on dealing with insurgents, sources told ET.

    2021 to ring in spectrum auctions, potential tariff hikes for telecom sector

    The Indian telecom market, which once had nearly a dozen operators, has in recent years seen exit of some prominent names due to cut-throat competition and legal cases.

    Should I continue with my ELSS investments in the current scenario?

    If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

    What if they could make the pandemic go poof?

    As the coronavirus has snuffed out live entertainment, magicians, like so many others, have been forced to adapt, trading traditional in-person performances for virtual shows.

    Tweet Buster: Reclassification of midcaps & smallcaps; long-term investing ideas

    What are the top investment ideas from top D-Street honchos? Here’s a clue.

    Indian car market recovering faster than expected post Covid: Toshihiro Suzuki

    The Indian automotive market is set to post its second consecutive year of a significant decline with the first quarter witnessing over 75% drop in demand due to the lockdown post Covid-19, this is after the market slipped by 18% in FY-20.

    How to transition from double income household to a single income one

    Have you been the victim of income shortage or loss due to coronavirus-led job loss, pay cuts etc.? Utilise your out of job time to upskill yourself in order to improve career prospects. Here are money management tips for a life with lower income.

    India Inc’s battle groups against Covid-19 get going

    Specific tasks and responsibilities are commissioned to every member of this core Maharashtra Covid Response Group that is working directly with the chief minister’s office. They, as a member put it also “take note of what happened in the last 24 hours while some share information about global medical news and research updates.”

    Sensex falls for 3rd day, down 136 points amid weak global cues

    Volatility has heightened ahead of the US Presidential election outcome, scheduled on November 3. The September quarter earnings are also adding to the volatile moves in individual stock.

    Fall in Vodafone Idea subscriber numbers worries promoters

    The falling numbers have prompted discussions among promoters on the future of the telco, even if it were allowed by the Supreme Court to pay its adjusted gross revenue (AGR) dues over 20 years, said one of the officials.

    View: Hijacking bankers to catch swindlers is a terrible, terrible idea

    The big idea behind the current-account regulation seems to be this: If taxpayer-funded banks can’t hope to recover much from dead companies, they should at least be able to monitor how living ones use their money.

    Scarred by Coronavirus pandemic? Here is what mutual fund investors should do now

    The current COVID-19-induced correction also provides the perfect opportunity for those who’d like to consolidate and streamline their portfolios by removing poor performers or discarding tiny mutual fund holdings.

    PM delivers veiled warning to China, Pakistan in I-day speech; pushes for self-reliant India

    In his nearly 90-minute address, dwelt at length on his 'Aatmanirbhar Bharat' campaign and gave a call for reducing imports and pushing exports of finished products in place raw material, saying the country will have to move forward with the mantra of 'Make in India' as well as 'Make for World'.

    EU to unveil massive stimulus plan for post-coronavirus recovery

    The aim is to help countries and sectors worst hit by the COVID-19 pandemic recover quickly and protect the EU single market of 450 million people from being splintered by divergent economic growth and wealth levels as the 27-nation bloc emerges from its deepest ever recession expected this year.

    India's role in production of COVID-19 vaccine critical in containing pandemic: Bill Gates

    In an exclusive interview to PTI, Gates, whose foundation is focusing on fighting the pandemic, called it the "next biggest thing" the world has been confronted with after the World War.

    With Trump on the defense in key states, Democrats are quietly believing in a Biden victory

    That Trump is still campaigning in what should be a safely Republican state — and in others that should be solidly in his column like Iowa and Ohio — is evidence to many Democrats that Joe Biden’s polling lead in the presidential race is solid and durable. Trump spent Monday in Arizona, too, a state that was once reliably Republican but where his unpopularity has helped make Biden competitive.

    9 practical steps to prepare for and navigate the financial crisis due to coronavirus

    Do not deny the possibility of losing the job, or being furloughed briefly.

    As market overcomes Budget blues, here are 10 stock ideas for short term

    Here are stock ideas that brokerages said should deliver solid gains in the next few weeks.

    Stocks in the news: HDFC Bank, SBI, Route Mobile, Vodafone Idea, STFC and Muthoot Finance

    State Bank of India (SBI), the country's largest bank has kicked off its due diligence for restructuring of retail loans.

    View: India’s pharma industry needs innovation-promoting and smart regulation to up its game

    The Indian pharmaceutical industry is a fine example of how such investment in R&D, combined with supportive public policy, has created global players. However, the pharma, biology and healthcare industry needs a public policy framework that will support private investment in R&D and innovation to maintain India’s pre-eminent position in this sector.

    Market Movers: NTPC, ICICI Bank, SBI, Motherson jump; 32 stocks ‘overbought'

    Banks were among the top drivers of the rally, with ICICI Bank rallying 5% and SBI 3.5%.

    IT and BPO firms to get work from home exemption for staff till July 31: Ravi Shankar Prasad

    Prasad, speaking after a virtual meeting with state IT ministers, also said India needed to capitalise on a huge electronics manufacturing opportunity that has been thrown open, as companies look to move of China in the wake of the Covid-19 virus outbreak.

    Experts urge India Inc to avoid layoffs, pay cuts during coronavirus outbreak for faster recovery

    Experts are of the view that it is the time for India Inc to send across a long-lasting message and it is their duty to provide a sense of security to their workforce by retaining their existing staff members and that can be achieved as any fresh hiring is anyway unlikely to happen at the time.

    Funding coronavirus fight: Tax officers suggest 40% super-rich tax, pandemic cess, higher levy on MNCs

    Tax officers have suggested a 40% tax on super-rich as well as higher levy on foreign companies.

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