Year: 2020

Chongqing city district says it discussed projects with Tesla

BEIJING, July 14 (Reuters) – U.S. automaker Tesla Inc has met with officials from a district in the city of Chongqing in southwestern China to discuss “accelerating projects”, the Liangjiang New Area said on Tuesday.

Officials met Tesla Vice-president Tao Lin to discuss “accelerating projects”, Chongqing’s Liangjiang New Area said in a Wechat social media post.

It said government official Duan Chenggang welcomed Tao’s visit to “promote cooperation”, without providing further details.

The official China Securities Journal newspaper, citing unidentified sources, said cooperation could involve the establishment of sales and maintenance centres rather than factories.

Tesla did not immediately respond

India’s exports to Latin America increased to 13.2 billion dollars in 2019-20, the highest in the last five years

India’s exports to Latin American countries in comparison to neighbours and traditional trading partners

By By R. Viswanathan

India’s exports reached 13182 million dollars in 2019-20 (April-March) from 10 billion in 2015-16, according to the figures just released by the Ministry of Commerce, India.

Brazil came back this year to claim its position as the # 1 destination of India’s exports to the region, with 3.97 billion dollars, overtaking Mexico.

The other major destinations were:

Mexico USD 3.62 billion; Colombia USD1.04 billion; Chile USD 793 million; Peru USD 764 million; Argentina USD 763 million. Surprisingly, exports to Venezuela doubled to

No coronavirus layoffs at Wipro, assures Rishad Premji; says firm is risk-free from H-1B visa ban

Rishad Premji said that Wipro is risk-free from H-1B ban as it has hired nearly 70 per cent employees in the US from that country itself.

Even as many IT firms lay off employees amid the ongoing crisis, Wipro has assured that neither it has laid off any employee so far, nor it will lay off anyone in the coming times. However, the company has planned for cost reductions through various operational means to survive through the crisis, Wipro Chairman Rishad Premji said at the company’s 74th annual general meeting (AGM). While most of the employees across various firms are

Oil Drops on Signs OPEC+ Preparing to Taper Production Cutbacks

(Bloomberg) — Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.

Futures in New York fell below $40 a barrel. The producer bloc will review the state of the market at an online meeting on Wednesday amid expectations it will soon begin unwinding the output curbs that have helped haul oil back from its plunge in April. Russia’s top oil companies are preparing to increase output next month in the absence of other guidance

$5 trillion economy dream still on: Piyush Goyal says India may have lost time, but not spirit

In the past few weeks, Prime Minister Modi has raised his pitch for making India self-reliant and has also asked industry to cut down on exports on numerous occasions. (Credit: ANI)

Prime Minister Narendra Modi’s dream to make India a $5 trillion economy is still possible even while coronavirus has thrown progress off track, Union Minister of Commerce & Industry and Railways, Piyush Goyal, said at an event on Monday. “We may have lost some time, but not lost spirit. India can still become a $5 trillion economy. We will take collective effort,” Piyush Goyal said at Bombay Chamber’s

BSE sees more listings ahead on its Startups platform; partners with IIT Alumni Council to ease process

BSE Startups platform has five startups listed so far with a market cap of Rs 82.71 crore.

Startups looking to raise capital from venture capital (VC) and private equity (PE) investors to fuel their growth may now find listing as an attractive alternative route to secure capital. BSE on Monday announced signing a memorandum of understanding (MoU) with IIT Alumni Council to encourage listing culture among startups and develop a ‘high investor depth’ startups platform. The council, which is a global body of IIT alumni, students and faculty across 23 IITs, will work towards bringing in transparency, governance improvement, market

Gilead Reveals Covid-19 Treatment Remdesivir Reduces Mortality Risk

Gilead Sciences (GILD) has announced encouraging additional data on remdesivir, the company’s investigational antiviral for the treatment of COVID-19.

The data includes a comparative analysis of the Phase 3 SIMPLE-Severe trial and a real-world retrospective cohort of patients with severe COVID-19.

“In this analysis, remdesivir was associated with an improvement in clinical recovery and a 62% reduction in the risk of mortality compared with standard of care – an important finding that requires confirmation in prospective clinical trials” the company stated.

Separate subgroup analyses from the Phase 3 SIMPLE-Severe trial, including an evaluation of the safety and efficacy

Eight shortlisted for RBI deputy governor post; interview on July 23

At present, the RBI has three deputy governors.

A search panel headed by the cabinet secretary is scheduled to interview eight shortlisted candidates on July 23 for the post of RBI deputy governor, sources said.

The post had fallen vacant after senior-most deputy governor N S Vishwanathan demitted office three months ahead of his extended tenure on March 31 on health grounds after serving the monetary authority for 39 years.

The Financial Sector Regulatory Appointment Search Committee (FSRASC) has a list of eight names who would be interviewed via video conference on July 23, the sources said.

The selected name

Restaurants open but grapple with decreased sales, few dine-in customers

The 10 PM deadline will further hurt business.

Restaurants across Delhi may have reopened their doors a month ago after being allowed to resume their business post the COVID-19 lockdown, but are still grappling with decreased sales, staff shortages and few dine-in customers. Due to the COVID-19 restrictions, many restaurants have not commenced dine-in facilities and are relying on takeaways to drive their business.

According to Rohit Aggarwal, director, Lite Bite Foods, post ‘Unlock’, the situation has not been “very motivating, walk-in numbers are extremely low and the operational cost is soaring”.

“The highest number of dine-in guests we have

Australia Warns of Vaccine Wait; Tokyo Cases Surge: Virus Update

(Bloomberg) —

A coronavirus vaccine may be two years away, if one is ever found, and low levels of infection may become a part of life, Australia’s deputy chief medical officer warned.

New infections in Tokyo exceeded 200 for a third day, though fell short of Friday’s record, Kyodo reported. Masked fans returned to baseball in Japan, making the country among the first to restart major sport with spectators. Germany’s infection rate stayed below a key level that’s crucial to preventing a second wave.

In the U.S., Texas hospitalizations topped 10,000 for the first time and California suffered its second-highest