PANDEMIC
UK PM Starmer promises 'radical reforms' to tackle social spending
Starmer's Labour is under pressure to balance the country's spending and boost growth after returning from over a decade out of power. The first set of indicators following its inaugural budget saw private enterprise stagnate and consumer retail spending fall.
World on the brink of a disastrous bird flu outbreak: Highly pathogenic H5N1 virus may lead to another pandemic, is more transmissible to humans
Experts warn that the highly pathogenic H5N1 bird flu virus, which has already infected mammals and demonstrated mutations increasing transmissibility to humans, has the potential to spark a catastrophic pandemic.
PM Modi honoured with top awards by Guyana and Dominica for global contributions
Prime Minister Narendra Modi was honored with Guyana's highest award, 'The Order of Excellence,' and Dominica's 'Dominica Award of Honour' during his three-nation visit. The awards recognize his contributions to global well-being, particularly during the COVID-19 pandemic, and his efforts to strengthen ties with both Caribbean nations.
Curb your debts to prepare for the next pandemic, Raghuram Rajan tells US
Former RBI Governor Raghuram Rajan has warned against high public debt. He says countries like the US are vulnerable to future crises. Rajan suggests reducing debt to create a buffer. He spoke at the Bancor prize award ceremony in Rome. He also advocated for reforming global institutions and increasing trade.
ED arrests 2 Chinese persons in online app loan 'fraud' case
The Enforcement Directorate arrested two Chinese nationals in Tamil Nadu for allegedly running illegal digital loan apps. The accused allegedly used the WazirX crypto platform to launder funds and threatened borrowers with harassment and blackmail. The ED's investigation revealed that the apps charged exorbitant interest rates and exploited vulnerable individuals during the COVID-19 pandemic.
Can bird flu trigger another pandemic and cause more lockdowns? Here's what experts have to say on the possibility
A teenager in British Columbia is critically ill with Canada's first case of the H5N1 bird flu strain. While the virus has spread to humans in rare cases, experts say the risk of a pandemic is low as it doesn't transmit easily between people. Health officials are monitoring the situation and emphasize preventative measures like avoiding contact with infected birds.
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PM Modi to receive Dominica's highest honour for contributions during COVID pandemic
Dominica will confer its highest national honor, the Dominica Award of Honour, upon Indian Prime Minister Narendra Modi. The award recognizes India's support for Dominica during the COVID-19 pandemic, including the donation of 70,000 vaccine doses, and its contributions to healthcare, education, and climate resilience.
India's middle class tightens its belt, squeezed by food inflation
India's middle class is tightening its belt as high inflation eats into their spending power. This slowdown in urban consumption, evident in declining sales of everything from cookies to restaurant meals, threatens India's economic growth. While official projections remain optimistic, some economists are less sanguine, pointing to shrinking wages and rising costs as key factors impacting urban spending.
Bitcoin nears $90,000 as crypto market exceeds pandemic-era peak
Bitcoin surged past $89,000 amid speculation of favorable crypto regulations under President-elect Trump, driving the market value to $3.1 trillion. Analysts warn of a potential retracement after the rally.
Bitten by travel bug, Indians loosen their purse strings
Outbound travel from India is experiencing a surge, fueled by increased air connectivity, greater purchasing power, and a shift in traveler priorities. Industry experts highlight a move towards experiential travel, with destinations like Azerbaijan and Vietnam gaining popularity. The growth is expected to continue, driven by a young, tech-savvy population and a thriving economy.
Covid Scam: Action on panel report after Cabinet approval, says Siddaramaiah
Karnataka Chief Minister Siddaramaiah announced an investigation into alleged COVID-19 procurement irregularities during the previous BJP government's tenure. The probe, based on a commission's report, could lead to prosecution of former CM Yediyurappa and others for potential losses in equipment and medicine purchases.
White House blames "global headwinds" for Kamala Harris election result
White House Press Secretary Karine Jean-Pierre attributed the Democratic loss in the presidential election to "global headwinds" stemming from the COVID-19 pandemic's impact on the supply chain. She stated that President Biden takes responsibility for the loss but also expressed pride in his administration's accomplishments.
US Election 2024: Harris calls Trump "biggest losers of manufacturing jobs in American history" at Wisconsin campaign
US Election 2024: Vice President Kamala Harris criticized former President Trump's record on manufacturing jobs at a campaign event in Wisconsin. She claimed nearly 200,000 jobs were lost during Trump's presidency, with thousands from Wisconsin. Harris highlighted factory closures and failed promises, including Trump's Foxconn deal, labeling him as having one of the worst records for job losses.
Digital payments surge: Cash usage declines post-pandemic in India, says study by RBI economist
As of March 2024, cash still accounts for 60 percent of consumer expenditure but is rapidly declining post-COVID. Digital payments, particularly UPI, have surged, with their share in total transactions doubling and cash usage reducing significantly, indicating a shift towards digital modes.
Luxury titans lose $58 billion as pandemic era splurge ends
France's wealthiest luxury and cosmetics moguls, including Bernard Arnault and Francoise Bettencourt Meyers, have seen their fortunes shrink by a combined $58 billion in 2023. The decline follows reduced demand, especially in China, affecting companies like LVMH, L'Oreal, and Kering. This comes amid growing calls for higher taxes on the rich in France.
Centre launches 21st Livestock Census at Rs 200 cr cost; data to help Govtframe right policies
Union Minister Rajiv Ranjan Singh launched the 21st Livestock Census, to be conducted till February 2025 with a budget of Rs 200 crore. The census will collect comprehensive data on various livestock species, aiding policy formation for animal health security and sector growth. A USD 25 million Pandemic Fund Project was also introduced to enhance preparedness.
Average rents in top six office markets breach pre-pandemic levels for first time in 2024
In 2024, Indian office markets have seen average rents surpass pre-pandemic levels for the first time. Driven by strong demand, key cities like Delhi NCR and Pune lead the recovery. Core micro markets in major cities have experienced significant rental growth. Experts predict vacancy rates to stabilize and rental values to rise further.
Flying high and dropping low: How a daring woman copter pilot saved wounded commando
Capt Reena Varughese executed a daring rescue mission using a Pawan Hans helicopter to save a wounded C-60 commando in Maoist territory near Gadchiroli. Despite the rocky terrain, she evacuated the injured soldier under high-risk conditions, leveraging her extensive experience in similar operations.
First of two stealth frigates being built in Russia likely to be commissioned in Dec: Sources
INS Tushil, the first of two stealth frigates built in Russia, is expected to be commissioned in December. The project, part of a 2016 India-Russia agreement, faced delays due to the COVID-19 pandemic, the Ukraine conflict, and western sanctions. Goa Shipyard Limited will construct the remaining two frigates in India.
Will 2025 mark the end of the world? Here¡¯s what you need to know about the predictions
As 2025 approaches, predictions from legendary mystics Nostradamus and Baba Vanga hint at a year filled with conflict and disasters. Nostradamus foresees "cruel wars" in Europe and natural disasters, while Baba Vanga predicts global apocalyptic scenarios and advances in human abilities. Their prophecies continue to fascinate, sparking both belief and skepticism about the future.
World Bank says 26 poorest countries in worst financial shape since 2006
The World Bank reports that the 26 poorest countries are more in debt than ever since 2006. These nations are still struggling economically, mainly reliant on grants and low-interest loans. Natural disasters have worsened their situation. The World Bank aims to raise over $100 billion to support them.
Baba Siddique earned praised during pandemic, was friends with Bollywood stars
Former Maharashtra minister Baba Siddique, a well-known Bollywood figure and three-time MLA from Bandra (West), was shot dead in Mumbai. He was noted for his efforts during the Covid pandemic and his close ties with Bollywood. Siddique recently joined the NCP enhancing their influence in Mumbai.
Italy's demographics are worst in Europe for growth, Scope Ratings says
Italy faces major economic challenges due to the worst demographics in Europe, with a rapidly ageing population and declining birth rates. The workforce is set to shrink by nearly 19% by 2040, highlighting the urgent need for labor market reforms to sustain long-term growth.
India's coal-fired monthly power output slips consecutively for the first time since pandemic
India's coal-fired power production dropped annually for the second consecutive month in September due to lower electricity demand and a significant rise in solar energy generation. Higher rainfall and increased renewable energy installations led to a record high of 13.9% renewable energy share in India's electricity output.
Madame Tussauds at home: Odisha man spends Rs 8 lakh on life-size silicone statue of wife who died during Covid
In Berhampur city, Odisha, Prashant Kumar Nayak has installed a life-size silicone statue of his wife, Kiran, who died during the COVID pandemic. Created by a Bengaluru-based sculptor over a year, the statue aims to fill the void for the family, particularly their three children.
Railway unions launch campaign seeking productivity-linked bonus based on 7th Pay Commission
Several railway unions have launched a social media campaign demanding productivity-linked bonuses based on the Seventh Pay Commission instead of the sixth. Despite a previous appeal to the Railway Minister, no response was received, prompting unions to press their demands via social media.
'Silent pandemic' danger: Fungal infections could be the next health crisis, scientists warn
Fungal infections are becoming increasingly resistant to medications, posing a significant global health threat. Researchers warn that these infections, affecting millions and causing millions of deaths annually, are being overlooked in antimicrobial resistance initiatives. Immediate action is needed to address this silent pandemic and prevent it from worsening.
Inbound tourists trail pandemic levels, but forex earnings are up: Report
Inbound tourism in India is still recovering from the pandemic, with foreign tourist arrivals at 90% of 2019 levels in the first half of 2024. However, foreign exchange earnings have increased by 23%, indicating higher spending per tourist. Meanwhile, outbound tourism from India has risen by 12% over pre-Covid levels.
India¡¯s post-pandemic revenge spending is running out of steam
Urban consumers in India are cutting back on spending as the festive shopping season begins, impacting car sales, air travel, and packaged food. Meanwhile, rural spending is rebounding due to good monsoon rains and better harvest prospects. This divergence complicates the economic outlook for India's growth.
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