ETV Bharat / business

COVID-19 Live Updates: Paytm shuts Gurugram office for 15 days

coronavirus

coronavirus

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Published : Mar 4, 2020, 1:38 PM IST

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Updated : Mar 5, 2020, 8:30 PM IST

20:22 March 05

Paytm shuts Gurugram office for 15 days after employee tests positive for coronavirus

Paytm has shut its Gurugram office for up to a fortnight after one of its employees tested positive for coronavirus, the company said, as it looked to contain the spread of infection to other employees.

On Wednesday, Paytm had said one of its employee in Gurugram - who recently returned from a vacation in Italy - tested positive for novel coronavirus. It had also advised employees to work from home for the next couple of days.

"We are closely working with the health authorities to take preventive measures to ensure the safety of our colleagues. Our Gurgaon office will remain closed for up to 15 days while Noida offices will be operational from Monday onwards," a Paytm spokesperson said in an emailed query.

20:20 March 05

Hand sanitizer makers see 10-folds jump in sales; ramp up production

Hand sanitizer makers have seen up to 10-fold jump in demand, as the number of coronavirus cases in India is on the rise.

The companies have increased the production amid reports of non-availability of hand sanitizers in the market, as people have started buying them after cases of coronavirus appeared in the national capital region.

"We have seen a 10 times demand for hand sanitizers over the last month," The Himalaya Drug Company CEO Philipe Haydon said.

He further said, "We are ramping up our production line to cater to the demand of sanitizers and handwashes nationwide that can help people take precautionary measures. We launched awareness drives on hand hygiene in the year 2000."

20:04 March 05

Amid coronavirus outbreak, AI disinvestment might be 'quite difficult at this moment': IATA

International airlines' grouping IATA said Air India's disinvestment process might be "quite difficult at this moment" amid the coronavirus outbreak, which will hit the global market for Indian carriers as well as inbound tourist traffic into the country.

Against this backdrop, IATA Chief Economist Brian Pearce said, "I think it is going to be very difficult times for the (Indian) airlines".

"Clearly, the international market for Indian carriers is going to be a lot weaker and inbound tourist traffic is going to be hit very hard by the effect of the coronavirus crisis," he told PTI here.

According to him, there could be further consolidation of Indian airlines in the wake of the situation created by the coronavirus outbreak.

"Privatisation of Air India is a necessary step for the long-term for the Indian market," he said.

20:04 March 05

No takers for Chinese goods this Holi: CAIT

Coronavirus fear is keeping away both traders as well as consumers from buying Chinese goods this Holi, traders body CAIT said.

Holi related chinese goods worth about Rs 500 crore are lying with importers across the country, while consignment worth Rs 3,000 crore are lying in supply chain pan India, it added.

"As per our estimate Holi related Chinese goods worth about Rs 500 crore are lying with importers of Delhi, Mumbai, Bengaluru and Chennai while goods worth about Rs 3,000 crore are lying in supply chain across the country," CAIT Secretary General Praveen Khandelwal said in a statement.

Confederation of All India Traders (CAIT) urged the government to take precautionary measures in ensuring effective and sustainable supply chain across the country.

20:03 March 05

Coronavirus to hamper global smartphone sales by 7% in Q1

Although factories are beginning to ramp up production slowly, the first quarter smartphone sales are likely to hit by over 20 per cent in China in the first quarter, resulting in global sales going down at least 7 per cent compared to same period last year, a new report said.

"While factories are anxious to ramp-up production, they're also being careful that labour-intensive work does not rekindle viral outbreaks," said Peter Richardson, Research Director, Counterpoint Research.

"Our initial expectation was that the virus would be contained within two months and take three further months for things to get back to normal. We now expect Q1 China sales to be down by around 25 per cent compared to the original forecast. This is 18 per cent lower than Q1 last year," he explained in a statement.

"Global sales will also go down 7 per cent compared to the same period last year. Overall, we think Q1 and Q2 will show negative growth both globally and in China before rebounding," forecast Richardson.

19:21 March 05

Domestic steel prices to come under pressure in near-term: Icra

After witnessing uptrend, domestic steel prices are expected to come under pressure in near-term due to the outbreak of deadly coronavirus, Icra said.

After touching a low of Rs 32,250 tonne in the first week of November 2019, domestic hot-rolled coil (HRC) prices have been on the rise and are currently ruling at around Rs 37,000 tonne, a rise of about 15 per cent, the ratings agency said in a report.

"The domestic steel prices, which despite moderate domestic demand have witnessed an uptrend since November 2019 in line with international trends, are expected to come under pressure in the near-term as an aftermath of the COVID-19 outbreak," it said.

19:20 March 05

OPEC to recommend 1.5-mn-barrel output cut to allies

The OPEC group of oil producers will recommend a production cut of 1.5 million barrels per day to its allies, Iran's Energy Minister said as it seeks counter the slump in demand caused by the COVID-19 outbreak.

"We decided... to recommend to the non-OPEC meeting tomorrow 1.5 million barrels of new cut for the second quarter of 2020," Bijan Namdar Zanganeh told reporters after an extraordinary meeting of OPEC ministers at the group's headquarters in Vienna.

19:20 March 05

Indian tech firms scramble to shield workers against new virus

With the coronavirus cases growing by every passing hour, Indian tech companies have scrambled to find solutions to safeguard their employees from the deadly virus and flexible working hours/work from home is on top of their minds.

Industry veterans said that while it may be unplanned, now is a great time for companies to look at how they enable and empower their distributed workforce to collaborate.

Harshvendra Soin, Chief People Officer at Tech Mahindra, said that the company has issued a detailed employee advisory and are undertaking various preventive measures.

Global software giant Wipro has suspended employee travel to coronavirus-stricken China, Hong Kong and Macau.

The company also said that any employee who has travelled to an affected place in China in the last few days has been advised to work from home for 14 days before resuming work in office.

17:18 March 05

Food businesses need to maintain extra hygiene: FSSAI

It is a virus, like many other viruses, definitely now it is in the limelight, so we have to take all precautions.

“Definitely, we have to eat hygienic food, on that there are no two words. But till date there is no scientific data to prove that chicken, mutton, sea food is responsible for coronavirus”, said Food Safety and Standards Authority of India (FSSAI) chief executive officer (CEO), G.S.G. Ayyangar.

India being a tropical country, when once the temperature crosses 35-36 degrees centigrade, no virus will survive.

There is a need to maintain extra hygiene in terms of food business especially in places like poultry farms and others in wake of coronavirus.

17:12 March 05

Iran says limit using paper money to avoid virus' spread

Iran's health minister encouraged the public to reduce its use of paper money as it is aiding the spread of the new coronavirus, and said authorities will begin manning checkpoints to limit travel between major cities in the Islamic Republic.

Saeed Namaki made the announcement at a televised news conference. He added that schools and universities will remain closed through Nowruz, the Persian New Year, on March 20.

17:04 March 05

Two in Telangana test negative for COVID-19

Corona suspected DSM Employee tested negative in Hyderabad. An announcement in this regard was made by Telangana Health Minister Etela Rajender.

The samples were sent to the National Institute of Virology (NIV) in Pune for further confirmation.

On Wednesday, there was a panic like situation in the IT corridor of the city when DSM announced that one of its employees suspected to have infected with coronavirus.

17:00 March 05

China to grow by 4.8% in 2020

S&P Global ratings forcasted China to grow by 4.8 per cent in 2020 with a plausible downside scenario of below 3 per cent. Other economies including Australia, Japan, and Korea will flirt with recession as growth falls well below trend.

The hardest-hit economies remain Hong Kong, Singapore, Thailand, and Vietnam where people flows are large. In all of these economies, tourism is a large share of GDP (almost 10% on average) and tourists from China account for a large share of visitors. Supply-chain exposure in the electronics and autos industries are also high.

It is no surprise that here we also see the most robust fiscal policy response, especially transfers and subsidies to households and affected sectors.

These measures will likely cushion the blow but they may be less effective than normal and will not prevent a recession. For these economies, we expect a hit to full-year growth of close to or well over 1 ppt.

16:25 March 05

Number of visitors at the Taj Mahal declined sharply

At the railway stations in Agra division, a marked fall in the number of passengers has been discernible for past two days. People are avoiding travelling in crowded trains.

In Agra, an alert has been sounded and continuous monitoring of the movement of foreign tourists is being kept at the monuments. The number of visitors at the Taj Mahal has declined sharply, while star hotels have reported mass cancellations.

Tourism industry feared that the crisis could be the biggest in 36 years, after 1984 assassination of the then prime minister Indira Gandhi.

Hotels in the city have made arrangements for washing of hands with sanitisers at the entrances. District authorities have alerted health department teams to continuously monitor hotels and monuments.

16:05 March 05

Apple co-founder tweets he might be 'patient zero' for COVID-19

Checking out Janet’s bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA) https://t.co/MRNHqithEU
— Steve Wozniak (@stevewoz) March 2, 2020 " class="align-text-top noRightClick twitterSection" data="
Checking out Janet’s bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA) https://t.co/MRNHqithEU
— Steve Wozniak (@stevewoz) March 2, 2020
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Checking out Janet’s bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA) https://t.co/MRNHqithEU
— Steve Wozniak (@stevewoz) March 2, 2020

Apple co-founder Steve Wozniak tweeted that he and his wife may have contracted the coronavirus (COVID-19) after a trip to Southeast Asia and may have been "patient zero," bringing the virus to the US.

"Checking out Janet's bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA)," Wozniak tweeted recently.

Later, Steve Wozniak's wife Janet Wozniak told USA Today that she was diagnosed with a sinus infection and it was not a case of coronavirus as they originally thought.

The report also quoted Apple co-founder describing the experience as "the worst flu of our lives."

15:37 March 05

Virus could cost airlines USD 113 bn revenue in 2020: IATA

The airline industry could lose up to USD 113 billion in revenue this year due to the impact of the new coronavirus, an industry body warned as the epidemic spreads rapidly worldwide.

"The turn of events as a result of COVID-19 is almost without precedent," said Alexandre de Juniac, head of the International Air Transport Association (IATA), following a meeting in Singapore.

"In little over two months, the industry's prospects in much of the world have taken a dramatic turn for the worse."

14:49 March 05

Microsoft tells US employees to work from home

Microsoft has allowed employees in Seattle and San Francisco to work from home till March 25 as the novel coronavirus outbreak continues to spread in the US.

The tech giant has also recommended that those who are feeling sick, have a compromised immune system, or have had contact with someone diagnosed with COVID-19 should work from home.

14:24 March 05

No shortage of raw ingredients or medicines in India says D V Sadananda Gowda

Minister of Chemicals and Fertilizers D V Sadananda Gowda asserts that there is no shortage of raw ingredients or medicines in India as the union government has taken various initiatives to tackle the challenge posed by the coronavirus outbreak.

12:43 March 05

Coronavirus wipes USD 50 billion off global exports in February alone

UN economists announced a likely USD 50 billion drop in worldwide manufacturing exports in February alone as the extent of the damage to the global economy caused by novel coronavirus COVID-19 moved further into focus.

Citing the China Manufacturing Purchasing Manager's Index (PMI), Pamela Coke-Hamilton, who heads UNCTAD's Division on International Trade and Commodities, said that it had fallen to 37.5 - a drop of about 20 points the lowest reading since 2004.

12:05 March 05

Trade impact of Coronavirus epidemic for India estimated at 348 million dollars: UN report

The trade impact of the coronavirus epidemic for India is estimated to be about 348 million dollars and the country figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade, according to a UN report.

12:04 March 05

Shortage of masks in Hyderabad

In Hyderabad, some schools made it mandatory for students to wear masks. Corporate Offices raising bulk orders to buy hand sanitizers and protective masks for employees.
However, chemists in the city do not seem to have enough supplies.

11:54 March 05

Sensex jumps nearly 300 points in the opening session

Equity benchmark Sensex jumped nearly 300 points in opening session on Thursday tracking positive cues from global equities as central banks across the global prepare to combat the economic pressure of the coronavirus outbreak.

According to traders, investors were hopeful that the collective efforts of global governments and central banks would cushion the economic fallout of coronavirus.

11:41 March 05

Indian rupee continued its downward journey due to coronavirus fears

The Indian rupee continued its downward journey on Thursday, sliding another 5 paise to trade at 73.44 against the US dollar amid mounting fears of a coronavirus-led economic slowdown.

At the interbank foreign exchange, the local unit started the session on positive note but soon nervousness surrounding coronavirus gripped the forex market sentiment, pulling the rupee down to 73.44 against the previous day's close of 73.39 a dollar.

11:40 March 05

23:41 March 04

FMCG makers ramp up production of hand sanitizers

Fast-moving consumer goods (FMCG) companies are ramping up their production and optimising distribution channels to meet the rising demand for hand sanitizers amid the coronavirus outbreak.

Some FMCG firms are also educating consumers by engaging their brands to communicate with the consumers, through special campaigns on digital and mainstream media, to make them aware about the benefits of regular hands wash as prevention for coronavirus.

The companies have assured that they have enough stocks to tackle the situation.

23:40 March 04

Additional doctors, counters, forms to be arranged at airports as part of coronavirus screening

Additional counters, doctors, medical equipment and modified forms in pre-immigration area of airports will be arranged as part of coronavirus screening, an official said.

After the Centre's announcement that all international passengers arriving in India would henceforth be screened, Aviation Secretary P S Kharola held a four-hour long meeting with officials from various departments and airports.

He directed them to have additional counters, doctors, medical equipment and modified forms in pre-immigration area, the official said.

23:39 March 04

Coronavirus compounds Gulf economic woes as oil prices slump

Energy-rich Gulf states have scrapped or postponed dozens of events as part of measures to contain the new coronavirus, denting economies already hurt by slumping oil prices.

From OPEC kingpin Saudi Arabia to the region's most diversified economy the United Arab Emirates, sports tournaments, economic conferences and major religious events have been sacrificed in attempts to curb the spread of the disease.

21:21 March 04

Lufthansa to ground 150 planes over coronavirus

German airline giant Lufthansa said it would ground 150 of its more than 750 planes worldwide, days after announcing a slimmed-down timetable over the effects of the novel coronavirus.

"25 long-haul aircraft and 125 short- and medium-haul aircraft" will no longer fly, a spokesman for the group also including carriers Eurowings, Austrian and Swiss said.

19:56 March 04

Coronavirus grips Paytm, company shuts offices for 2 days

One of India's leading digital payment banks Paytm has decided to shut its offices in Gurugram and Noida for at least two days after one of its employees who had recently travelled to Italy was tested positive with COVID-19.

In an official statement, the company informed that it has suggested team members of the COVID-19 patient to get their health tests done immediately, while all their offices will remain shut for sanitising purposes.

"We have also advised all our colleagues to work from home for a couple of days while we get our offices sanitized," a Paytm spokesperson said.

19:51 March 04

IMF members pledge all available resources against epidemic

The 189 members of the International Monetary Fund pledged to bring all available resources to bear to help countries combat the impact of the new coronavirus epidemic.

"We have called upon the IMF to use all its available financing instruments to help member countries in need," the statement said.

"We are determined to provide the necessary support to mitigate the impact, especially on the most vulnerable people and countries."

19:50 March 04

Sarojini Nagar Market to procure masks, distribute to customers

Amid coronavirus scare, the traders' association of Sarojini Nagar Market is planning to procure masks and distribute them to customers when they come to shop.

Ashok Randhawa, president of the Sarojini Nagar mini market traders' association, said they will also put up banners in the market informing people about various precautions to be taken in the wake of the current situation.

"We will be distributing masks to customers who visit the market. We are planning to procure 1,000 to 2,000 masks in the next few days and will be distributing them to customers."

"We will also be making arrangements for hand sanitisers so that when customers enter shops, they can use them," he said.

19:16 March 04

Coronavirus outbreak a right time to revisit Ayurveda wisdom on prevention: Amway CEO

Crisis like outbreak of coronavirus provides an opportunity to revisit the ancient wisdom of Ayurveda for prevention of diseases through improved immunity and combine it with Western science for a holistic healthy living, according to global direct selling major Amway CEO Milind Pant.

Amway, which counts China as its largest market and was allowed to run its factory in Guangzhou to produce its 'Nutrilite' health products although others in manufacturing sector such as cars and electronics have been shut, believes India could also consider building long-term immunity and a healthy society as the Chinese have done in the wake of the outbreak.

"This is the right time. When there's a high consciousness in society about healthy living and prevention. This is a good time for us to go back to our roots and see what strengths are there and combine it with efficacy and Western science."

19:16 March 04

Rupee slides 20 paise to close at 73.39 as coronavirus scare keeps rate cut optimism in check

The rupee swung wildly before closing down by 20 paise at 73.39 against the US currency on Wednesday as increasing number of coronavirus cases in India kept investors on edge despite a rate cut by the US Federal Reserve.

The rupee had opened strong and raced to a high of 72.90 to the US dollar in early trade following weakness in the US currency after the rate cut by the US Fed.

19:15 March 04

Every divisional, sub-divisional hospital in zones should have isolation wards: Rlys

Ministry of Railways has suggested few measures to ensure preparedness of railways to fight coronavirus. The ministry said every Divisional/Sub-divisional/Hospitals of the Zone should have isolation ward for treating suspected coronavirus cases with availability of necessary protective gears.

19:15 March 04

No re-booking charges for passengers travelling to Kuwait next week: Air India Express

Air India's international budget arm Air India Express has said it will not charge any fee on re-booking of tickets by the passengers travelling to Kuwait between March 8-15 following the issuance of fresh instructions by the Kuwaiti government in the wake of the coronavirus outbreak.

Such passengers can rebook a date that falls within seven days of the original booking date, Air India Express said in a statement.

"In order to facilitate the compliance of this requirement, Air India Express has decided to allow free date modification to passengers who are booked to fly to Kuwait between March 8 and 15," the airline said.

19:14 March 04

Export of engineering goods may see marginal decline: Council

Export of engineering goods from India is likely to witness a marginal decline during this financial year, chairman of Engineering Export Promotion Council (EEPC) Ravi Sehgal said.

The country had registered exports worth USD 81 billion last fiscal and there was a great expectation to cross that mark. But the global trade war between China and USA took the toll on India due to lesser demand, Sehgal said.

To cap it all, the spread of coronavirus also had a great impact on the exports due to which Indian exports are expected to be below USD 80 billion, Sehgal, here as a part of organising three-day 9th International Engineering Sourcing Show (IESS), said.

19:14 March 04

Infinix cancels S5 Pro launch event amid coronavirus outbreak

After Xiaomi and realme, Chinese smartphone maker Infinix has now called off the launch event of its flagship, S5 Pro slated for later this week here.

"In the wake of growing concern for the global outbreak of COVID-19...Infinix Mobile has decided to cancel the launch event of our most awaited device," Infinix Mobile CEO Anish Kapoor said in an emailed statement.

He added that Infinix - which is part of China's Transsion Holdings - is closely monitoring the situation.

"To prevent its (coronavirus) spread, we are not encouraging any on-ground events at present because of the possibility of further increasing the risk," he said.

17:18 March 04

Germany bans export of medical protective gear over coronavirus

Germany's interior ministry has banned exports of medical protection gear such as masks and gloves to ensure that health workers in the country have enough to deal with the coronavirus outbreak.

The move comes as governments around the world are scrambling to protect supplies as fears over the deadly virus have sparked panic buying, hoarding and even theft.

In a statement, Germany's interior ministry said it had published a decree in the Federal Gazette outlawing "the export abroad of medical protective gear (masks, gloves, protective suits, etc.)".

17:04 March 04

Facebook to help combat virus misinformation

Facebook CEO Mark Zuckerberg says the social network is stepping up its efforts to combat virus-related misinformation by giving the World Health Organization free advertising.

Zuckerberg said in a post on his Facebook account that the company is working with national health ministries and global organizations like the World Health Orgnization, the US Centers for Disease Control and Prevention and UNICEF to get out timely and accurate information on the virus.

Zuckerberg said Facebook will also give “support and millions more in ad credits” to other unspecified organizations.

17:01 March 04

India Inc issues personal advisories on COVID-19 control

India Inc has sent personal advisories against coronavirus jitters as industrialist Anand Mahindra pushed for work from home culture and Harish Mariwala said people should stop spreading fake news.

Mahindra Group Chairman Anand Mahindra said he was hopeful that the crisis would be over, but pointed out that this will make "the world press a permanent reset button".

He anticipated that it would accelerate 'work from home' culture and lead to more virtual conferences. It would also lead to less travel, and hence, leave a greener footprint.

Harsh Mariwala, Chairman of Marico, was vocal against those who spread misinformation in such sensitive times.

He was against WhatsApp forwards and urged his followers to believe in news from authentic sources.

RPG Enterprises Chairman Harsh Goenka said he wanted to see "some joker" saying he/she has found an "unconventional" cure for the virus.

16:59 March 04

Amul posts ad, calls for cleanliness

#Amul Topical: Precautions against the Coronavirus! pic.twitter.com/kdilfocb0f
— Amul.coop (@Amul_Coop) March 3, 2020 " class="align-text-top noRightClick twitterSection" data="
#Amul Topical: Precautions against the Coronavirus! pic.twitter.com/kdilfocb0f
— Amul.coop (@Amul_Coop) March 3, 2020
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#Amul Topical: Precautions against the Coronavirus! pic.twitter.com/kdilfocb0f
— Amul.coop (@Amul_Coop) March 3, 2020

Amid the coronavirus (COVID-19) outbreak, India's dairy giant Amul has dropped an ad on their Twitter handle with an appeal requesting people to stay safe and adopt all precautionary measures.

The comic creative titled "Better saaf than sorry" was shared by Amul's official Twitter handle and has gathered about 1,000 likes so far.

16:56 March 04

Employees sent home as a precautionary measure

Some companies at Raheja Mindspace IT Park in the IT hub of Hitech City sent their employees home as a precautionary measure.

As a precautionary measure, some employers asked their employees to work from home. A multi-national company, located adjacent to the office where she was working, asked its employees to avail Work From Home (WHF).

Stating that the company takes health concern of all its employees seriously, the HR head advised them to use hand sanitisers and avoid touching objects in common areas.

The employees were advised to use stairs instead of the elevators while leaving the office.

Two more persons including a woman techie were tested positive in the preliminary test at Gandhi Hospital. Their samples were sent to National Institute of Virology (NIV), Pune for further testing.

16:47 March 04

Sales of masks, sanitizers increased in Delhi

Sales of masks, sanitizers increased in Delhi

With the guidelines of Union Health Ministry for using masks and washing hands frequently and usage of sanitizers, the sales of these items has increased rapidly. A medical store owner said, “We have availed sanitizers and masks in our shop and the sale has rapidly increased of these items. People are alert now and are using masks and sanitizers. ”

16:46 March 04

Virus hammers business travel as wary companies nix trips

Amazon and other big companies are trying to keep their employees healthy by banning business trips, but they've dealt a gut punch to a travel industry already reeling from the virus outbreak.

The Seattle-based online retail giant has told its nearly 800,000 workers to postpone any non-essential travel within the United States or around the globe.

Swiss food giant Nestle told its 291,000 employees worldwide to limit domestic business travel and halt international travel until March 15.

French cosmetics maker L'Oréal, which employs 86,000 people, issued a similar ban until March 31.

Other companies, like Twitter, are telling their employees worldwide to work from home.

Google gave that directive to its staff of 8,000 at its European headquarters in Dublin on Tuesday.

Major business gatherings, like the Geneva International Motor Show and the Mobile World Congress in Barcelona, have also been canceled.

16:28 March 04

Coronavirus to hit revenues, we're prepared: MakeMyTrip CEO

Leading online travel aggregator MakeMyTrip is bracing itself for a severe turbulence as its over-all revenues are set to be hit at least for the first half of this year.

According to Deep Kalra, Founder and Executive Chairman MakeMyTrip, the word of travel has been ravaged due to global coronavirus (COVID-19) outbreak.

"People initially weren't travelling to China, Hong Kong and then, the list included Singapore, South Korea and now European countries. A lot of people are putting their plans on hold. It's a very difficult time and one can only hope this will stop soon," Kalra said.

"It's clear that coronavirus will impact over-all revenues because of the cancellation of holiday plans. But we are taking all the major steps to minimise the impact," Kalra explained.

16:23 March 04

SEBI internally assessing potential impact of coronavirus on markets

SEBI is "internally assessing" the potential impact of the coronavirus epidemic on the capital markets, its Whole-Time Member S K Mohanty said.

He, however, said the Financial Sector Development Council (FSDC), an apex body of regulators formed by the government, is yet to get involved in the discussions.

"SEBI is aware of coronavirus and the possible impact that it can have on the market. We are taking the necessary steps," Mohanty told reporters here.

16:13 March 04

Hyderabad facing shortage of masks due to corona fear

Hyderabad is falling short of masks due ti increase in demand because of corona fear. There is a shortage of Filter masks, N95 masks.

According to shoppers, Surgical masks are available but they won't last for long. Shoppers are saying that distributors are selling masks at premium rate so we are selling with extra price.

Distributors are saying 'there is less stock available due to export.'

Surgical mask, which costs Rs 2 on normal days, is selling at Rs 10. Shoppers are selling N95 mask for Rs 150 which is normally priced at Rs 45.

15:48 March 04

RBI needs to find room for rate cut to deal with impact of coronavirus

The RBI needs to find room for more rate cuts to deal with the impact of coronavirus on the economy, says IDFC Mutual Fund report.

The report titled 'The Coronavirus and Revealed Preferences' further said the RBI, on its part, has a dominant revealed current preference for bringing back credit growth.

"Again the revealed preference in MPC (on aggregate, not necessarily for each individual member) seemed to be to look for room to ease as soon as inflation allowed, even before the impact from the coronavirus had taken hold. With new evolving information, the nudge is likely to come sooner than before," the report said.

15:20 March 04

Russia bans export of masks, hazmat suits to fight virus

Russia has banned the export of masks, respirators and hazmat suits to ensure access to the items for medics treating coronavirus patients and the public, under a decree published Wednesday.

The ban covers 17 types of equipment including face masks, plastic shoe covers, gloves, surgical scrubs, gas masks, hazmat suits and "reusable anti-plague" suits.

14:02 March 04

Coronavirus drags Hong Kong business outlook to record low

Hong Kong's business outlook hit a record low in February, according to data released today as the coronavirus outbreak added to the financial hub's troubles following months of political turmoil.

The Purchasing Managers' Index (PMI) for the city's economy plunged to its lowest mark since the gauge began, worse than the SARS outbreak in 2003 and the global financial crisis in 2007-2008.

13:54 March 04

Google cancels I/O developer conference in US

Google on Wednesday announced to cancel its biggest tech event I/O developer conference in May owing to the ongoing coronavirus outbreak.

"Due to concerns around the coronavirus (COVID-19), and in accordance with health guidance from the CDC, WHO, and other health authorities, we have decided to cancel the physical Google I/O event at Shoreline Amphitheatre," a Google spokesperson said in a statement.

13:41 March 04

The 30-share index dropped 637 points to 37,985.80

Sensex Dropped 637 points

Sensex Dropped 637 points

The 30-share index dropped 591.63 points, or 1.53 per cent, to 38,032, while the NSE Nifty cracked 181.15 points, or 1.60 per cent, to 11,122.15 at 1:40 pm

IndusInd Bank, Tata Steel, HDFC Bank, SBI and ICICI Bank were among the top losers, while Bajaj Auto, Asian Paints, Bharti Airtel and HCL Tech were trading with gains in the opening session.

In the previous session, the 30-share BSE barometer surged 479.68 points or 1.26 per cent to end at 38,623.70, and the broader Nifty jumped 170.55 points or 1.53 per cent to close at 11,303.30.

13:34 March 04

All int'l flights to be screened for COVID-19; 28 positive cases so far in India: Health minister

Union Health Minister Harsh Vardhan said 28 positive cases of coronavirus have been detected so far in India and announced that all international flights and passengers will now have to undergo screening, and not just the 12 countries listed earlier.

Harsh Vradhan says there are a total of 28 COVID-19 (Coronavirus) cases in India; 1 in Delhi, 6 in Agra, 16 Italian tourists and their Indian driver, 1 in Telangana and 3 in Kerala.

Minister said he met with Delhi's health minister, corporation officials and urged them to augment facilities of isolation wards in hospitals: Health Min on COVID-19.

He added that the 6 novel Coronavirus cases in Agra are relatives of Delhi-based man who tested positive earlier.

Also says all international passengers are to be screened for novel Coronavirus symptoms.

13:31 March 04

Intel employee exposed to coronavirus, under quarantine

Tech giant Intel has said one of its employees in Bengaluru has "potentially been exposed" to coronavirus and is currently under quarantine.

The company also said it has implemented precautionary measures like travel restrictions, increased frequency of office sanitisation, and work-from-home provisions in India.

13:26 March 04

Hyderabad Metro Rail sprayed disinfectant at stations and inside metro coaches

Hyderabad Metro Rail sprayed disinfectant at stations and inside metro coaches. The state government has also issued public advisories as part of an awareness campaign.

13:26 March 04

Yatra.com says airfares to Southeast Asia, Italy dropped by 20-30%

The travel agency has received about 35 percent of cancellation queries from travelers planning their trips to foreign locations during the holiday season. "We at Yatra.com are advising and helping customers to postpone their travel dates and book their tickets accordingly," she added.

"Travelers are now looking at alternate foreign destinations from India, such as Sri Lanka and Bhutan for summer travel.

13:20 March 04

Polished Diamond prices slide amid coronavirus fears

Diamond Trading declined sharply in February due to economic uncertainty due to the coronavirus. Manufacturers and dealers are facing a severe liquidity crunch as sales to China and Hong Kong have stopped. Diamond prices dropped as a result of the slowdown, with the RapNet Diamond Index for 1-carat diamonds down 1.6 per cent in February.

The slump in jewellery sales means stores have more inventory than usual for this time of year. Chinese buyers are not expected to return to the market in the coming months. That will result in a build-up of excess goods and a squeeze on liquidity among polished-diamond suppliers.

(Inputs from agencies)

20:22 March 05

Paytm shuts Gurugram office for 15 days after employee tests positive for coronavirus

Paytm has shut its Gurugram office for up to a fortnight after one of its employees tested positive for coronavirus, the company said, as it looked to contain the spread of infection to other employees.

On Wednesday, Paytm had said one of its employee in Gurugram - who recently returned from a vacation in Italy - tested positive for novel coronavirus. It had also advised employees to work from home for the next couple of days.

"We are closely working with the health authorities to take preventive measures to ensure the safety of our colleagues. Our Gurgaon office will remain closed for up to 15 days while Noida offices will be operational from Monday onwards," a Paytm spokesperson said in an emailed query.

20:20 March 05

Hand sanitizer makers see 10-folds jump in sales; ramp up production

Hand sanitizer makers have seen up to 10-fold jump in demand, as the number of coronavirus cases in India is on the rise.

The companies have increased the production amid reports of non-availability of hand sanitizers in the market, as people have started buying them after cases of coronavirus appeared in the national capital region.

"We have seen a 10 times demand for hand sanitizers over the last month," The Himalaya Drug Company CEO Philipe Haydon said.

He further said, "We are ramping up our production line to cater to the demand of sanitizers and handwashes nationwide that can help people take precautionary measures. We launched awareness drives on hand hygiene in the year 2000."

20:04 March 05

Amid coronavirus outbreak, AI disinvestment might be 'quite difficult at this moment': IATA

International airlines' grouping IATA said Air India's disinvestment process might be "quite difficult at this moment" amid the coronavirus outbreak, which will hit the global market for Indian carriers as well as inbound tourist traffic into the country.

Against this backdrop, IATA Chief Economist Brian Pearce said, "I think it is going to be very difficult times for the (Indian) airlines".

"Clearly, the international market for Indian carriers is going to be a lot weaker and inbound tourist traffic is going to be hit very hard by the effect of the coronavirus crisis," he told PTI here.

According to him, there could be further consolidation of Indian airlines in the wake of the situation created by the coronavirus outbreak.

"Privatisation of Air India is a necessary step for the long-term for the Indian market," he said.

20:04 March 05

No takers for Chinese goods this Holi: CAIT

Coronavirus fear is keeping away both traders as well as consumers from buying Chinese goods this Holi, traders body CAIT said.

Holi related chinese goods worth about Rs 500 crore are lying with importers across the country, while consignment worth Rs 3,000 crore are lying in supply chain pan India, it added.

"As per our estimate Holi related Chinese goods worth about Rs 500 crore are lying with importers of Delhi, Mumbai, Bengaluru and Chennai while goods worth about Rs 3,000 crore are lying in supply chain across the country," CAIT Secretary General Praveen Khandelwal said in a statement.

Confederation of All India Traders (CAIT) urged the government to take precautionary measures in ensuring effective and sustainable supply chain across the country.

20:03 March 05

Coronavirus to hamper global smartphone sales by 7% in Q1

Although factories are beginning to ramp up production slowly, the first quarter smartphone sales are likely to hit by over 20 per cent in China in the first quarter, resulting in global sales going down at least 7 per cent compared to same period last year, a new report said.

"While factories are anxious to ramp-up production, they're also being careful that labour-intensive work does not rekindle viral outbreaks," said Peter Richardson, Research Director, Counterpoint Research.

"Our initial expectation was that the virus would be contained within two months and take three further months for things to get back to normal. We now expect Q1 China sales to be down by around 25 per cent compared to the original forecast. This is 18 per cent lower than Q1 last year," he explained in a statement.

"Global sales will also go down 7 per cent compared to the same period last year. Overall, we think Q1 and Q2 will show negative growth both globally and in China before rebounding," forecast Richardson.

19:21 March 05

Domestic steel prices to come under pressure in near-term: Icra

After witnessing uptrend, domestic steel prices are expected to come under pressure in near-term due to the outbreak of deadly coronavirus, Icra said.

After touching a low of Rs 32,250 tonne in the first week of November 2019, domestic hot-rolled coil (HRC) prices have been on the rise and are currently ruling at around Rs 37,000 tonne, a rise of about 15 per cent, the ratings agency said in a report.

"The domestic steel prices, which despite moderate domestic demand have witnessed an uptrend since November 2019 in line with international trends, are expected to come under pressure in the near-term as an aftermath of the COVID-19 outbreak," it said.

19:20 March 05

OPEC to recommend 1.5-mn-barrel output cut to allies

The OPEC group of oil producers will recommend a production cut of 1.5 million barrels per day to its allies, Iran's Energy Minister said as it seeks counter the slump in demand caused by the COVID-19 outbreak.

"We decided... to recommend to the non-OPEC meeting tomorrow 1.5 million barrels of new cut for the second quarter of 2020," Bijan Namdar Zanganeh told reporters after an extraordinary meeting of OPEC ministers at the group's headquarters in Vienna.

19:20 March 05

Indian tech firms scramble to shield workers against new virus

With the coronavirus cases growing by every passing hour, Indian tech companies have scrambled to find solutions to safeguard their employees from the deadly virus and flexible working hours/work from home is on top of their minds.

Industry veterans said that while it may be unplanned, now is a great time for companies to look at how they enable and empower their distributed workforce to collaborate.

Harshvendra Soin, Chief People Officer at Tech Mahindra, said that the company has issued a detailed employee advisory and are undertaking various preventive measures.

Global software giant Wipro has suspended employee travel to coronavirus-stricken China, Hong Kong and Macau.

The company also said that any employee who has travelled to an affected place in China in the last few days has been advised to work from home for 14 days before resuming work in office.

17:18 March 05

Food businesses need to maintain extra hygiene: FSSAI

It is a virus, like many other viruses, definitely now it is in the limelight, so we have to take all precautions.

“Definitely, we have to eat hygienic food, on that there are no two words. But till date there is no scientific data to prove that chicken, mutton, sea food is responsible for coronavirus”, said Food Safety and Standards Authority of India (FSSAI) chief executive officer (CEO), G.S.G. Ayyangar.

India being a tropical country, when once the temperature crosses 35-36 degrees centigrade, no virus will survive.

There is a need to maintain extra hygiene in terms of food business especially in places like poultry farms and others in wake of coronavirus.

17:12 March 05

Iran says limit using paper money to avoid virus' spread

Iran's health minister encouraged the public to reduce its use of paper money as it is aiding the spread of the new coronavirus, and said authorities will begin manning checkpoints to limit travel between major cities in the Islamic Republic.

Saeed Namaki made the announcement at a televised news conference. He added that schools and universities will remain closed through Nowruz, the Persian New Year, on March 20.

17:04 March 05

Two in Telangana test negative for COVID-19

Corona suspected DSM Employee tested negative in Hyderabad. An announcement in this regard was made by Telangana Health Minister Etela Rajender.

The samples were sent to the National Institute of Virology (NIV) in Pune for further confirmation.

On Wednesday, there was a panic like situation in the IT corridor of the city when DSM announced that one of its employees suspected to have infected with coronavirus.

17:00 March 05

China to grow by 4.8% in 2020

S&P Global ratings forcasted China to grow by 4.8 per cent in 2020 with a plausible downside scenario of below 3 per cent. Other economies including Australia, Japan, and Korea will flirt with recession as growth falls well below trend.

The hardest-hit economies remain Hong Kong, Singapore, Thailand, and Vietnam where people flows are large. In all of these economies, tourism is a large share of GDP (almost 10% on average) and tourists from China account for a large share of visitors. Supply-chain exposure in the electronics and autos industries are also high.

It is no surprise that here we also see the most robust fiscal policy response, especially transfers and subsidies to households and affected sectors.

These measures will likely cushion the blow but they may be less effective than normal and will not prevent a recession. For these economies, we expect a hit to full-year growth of close to or well over 1 ppt.

16:25 March 05

Number of visitors at the Taj Mahal declined sharply

At the railway stations in Agra division, a marked fall in the number of passengers has been discernible for past two days. People are avoiding travelling in crowded trains.

In Agra, an alert has been sounded and continuous monitoring of the movement of foreign tourists is being kept at the monuments. The number of visitors at the Taj Mahal has declined sharply, while star hotels have reported mass cancellations.

Tourism industry feared that the crisis could be the biggest in 36 years, after 1984 assassination of the then prime minister Indira Gandhi.

Hotels in the city have made arrangements for washing of hands with sanitisers at the entrances. District authorities have alerted health department teams to continuously monitor hotels and monuments.

16:05 March 05

Apple co-founder tweets he might be 'patient zero' for COVID-19

Checking out Janet’s bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA) https://t.co/MRNHqithEU
— Steve Wozniak (@stevewoz) March 2, 2020 " class="align-text-top noRightClick twitterSection" data="
Checking out Janet’s bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA) https://t.co/MRNHqithEU
— Steve Wozniak (@stevewoz) March 2, 2020
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Checking out Janet’s bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA) https://t.co/MRNHqithEU
— Steve Wozniak (@stevewoz) March 2, 2020

Apple co-founder Steve Wozniak tweeted that he and his wife may have contracted the coronavirus (COVID-19) after a trip to Southeast Asia and may have been "patient zero," bringing the virus to the US.

"Checking out Janet's bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA)," Wozniak tweeted recently.

Later, Steve Wozniak's wife Janet Wozniak told USA Today that she was diagnosed with a sinus infection and it was not a case of coronavirus as they originally thought.

The report also quoted Apple co-founder describing the experience as "the worst flu of our lives."

15:37 March 05

Virus could cost airlines USD 113 bn revenue in 2020: IATA

The airline industry could lose up to USD 113 billion in revenue this year due to the impact of the new coronavirus, an industry body warned as the epidemic spreads rapidly worldwide.

"The turn of events as a result of COVID-19 is almost without precedent," said Alexandre de Juniac, head of the International Air Transport Association (IATA), following a meeting in Singapore.

"In little over two months, the industry's prospects in much of the world have taken a dramatic turn for the worse."

14:49 March 05

Microsoft tells US employees to work from home

Microsoft has allowed employees in Seattle and San Francisco to work from home till March 25 as the novel coronavirus outbreak continues to spread in the US.

The tech giant has also recommended that those who are feeling sick, have a compromised immune system, or have had contact with someone diagnosed with COVID-19 should work from home.

14:24 March 05

No shortage of raw ingredients or medicines in India says D V Sadananda Gowda

Minister of Chemicals and Fertilizers D V Sadananda Gowda asserts that there is no shortage of raw ingredients or medicines in India as the union government has taken various initiatives to tackle the challenge posed by the coronavirus outbreak.

12:43 March 05

Coronavirus wipes USD 50 billion off global exports in February alone

UN economists announced a likely USD 50 billion drop in worldwide manufacturing exports in February alone as the extent of the damage to the global economy caused by novel coronavirus COVID-19 moved further into focus.

Citing the China Manufacturing Purchasing Manager's Index (PMI), Pamela Coke-Hamilton, who heads UNCTAD's Division on International Trade and Commodities, said that it had fallen to 37.5 - a drop of about 20 points the lowest reading since 2004.

12:05 March 05

Trade impact of Coronavirus epidemic for India estimated at 348 million dollars: UN report

The trade impact of the coronavirus epidemic for India is estimated to be about 348 million dollars and the country figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade, according to a UN report.

12:04 March 05

Shortage of masks in Hyderabad

In Hyderabad, some schools made it mandatory for students to wear masks. Corporate Offices raising bulk orders to buy hand sanitizers and protective masks for employees.
However, chemists in the city do not seem to have enough supplies.

11:54 March 05

Sensex jumps nearly 300 points in the opening session

Equity benchmark Sensex jumped nearly 300 points in opening session on Thursday tracking positive cues from global equities as central banks across the global prepare to combat the economic pressure of the coronavirus outbreak.

According to traders, investors were hopeful that the collective efforts of global governments and central banks would cushion the economic fallout of coronavirus.

11:41 March 05

Indian rupee continued its downward journey due to coronavirus fears

The Indian rupee continued its downward journey on Thursday, sliding another 5 paise to trade at 73.44 against the US dollar amid mounting fears of a coronavirus-led economic slowdown.

At the interbank foreign exchange, the local unit started the session on positive note but soon nervousness surrounding coronavirus gripped the forex market sentiment, pulling the rupee down to 73.44 against the previous day's close of 73.39 a dollar.

11:40 March 05

23:41 March 04

FMCG makers ramp up production of hand sanitizers

Fast-moving consumer goods (FMCG) companies are ramping up their production and optimising distribution channels to meet the rising demand for hand sanitizers amid the coronavirus outbreak.

Some FMCG firms are also educating consumers by engaging their brands to communicate with the consumers, through special campaigns on digital and mainstream media, to make them aware about the benefits of regular hands wash as prevention for coronavirus.

The companies have assured that they have enough stocks to tackle the situation.

23:40 March 04

Additional doctors, counters, forms to be arranged at airports as part of coronavirus screening

Additional counters, doctors, medical equipment and modified forms in pre-immigration area of airports will be arranged as part of coronavirus screening, an official said.

After the Centre's announcement that all international passengers arriving in India would henceforth be screened, Aviation Secretary P S Kharola held a four-hour long meeting with officials from various departments and airports.

He directed them to have additional counters, doctors, medical equipment and modified forms in pre-immigration area, the official said.

23:39 March 04

Coronavirus compounds Gulf economic woes as oil prices slump

Energy-rich Gulf states have scrapped or postponed dozens of events as part of measures to contain the new coronavirus, denting economies already hurt by slumping oil prices.

From OPEC kingpin Saudi Arabia to the region's most diversified economy the United Arab Emirates, sports tournaments, economic conferences and major religious events have been sacrificed in attempts to curb the spread of the disease.

21:21 March 04

Lufthansa to ground 150 planes over coronavirus

German airline giant Lufthansa said it would ground 150 of its more than 750 planes worldwide, days after announcing a slimmed-down timetable over the effects of the novel coronavirus.

"25 long-haul aircraft and 125 short- and medium-haul aircraft" will no longer fly, a spokesman for the group also including carriers Eurowings, Austrian and Swiss said.

19:56 March 04

Coronavirus grips Paytm, company shuts offices for 2 days

One of India's leading digital payment banks Paytm has decided to shut its offices in Gurugram and Noida for at least two days after one of its employees who had recently travelled to Italy was tested positive with COVID-19.

In an official statement, the company informed that it has suggested team members of the COVID-19 patient to get their health tests done immediately, while all their offices will remain shut for sanitising purposes.

"We have also advised all our colleagues to work from home for a couple of days while we get our offices sanitized," a Paytm spokesperson said.

19:51 March 04

IMF members pledge all available resources against epidemic

The 189 members of the International Monetary Fund pledged to bring all available resources to bear to help countries combat the impact of the new coronavirus epidemic.

"We have called upon the IMF to use all its available financing instruments to help member countries in need," the statement said.

"We are determined to provide the necessary support to mitigate the impact, especially on the most vulnerable people and countries."

19:50 March 04

Sarojini Nagar Market to procure masks, distribute to customers

Amid coronavirus scare, the traders' association of Sarojini Nagar Market is planning to procure masks and distribute them to customers when they come to shop.

Ashok Randhawa, president of the Sarojini Nagar mini market traders' association, said they will also put up banners in the market informing people about various precautions to be taken in the wake of the current situation.

"We will be distributing masks to customers who visit the market. We are planning to procure 1,000 to 2,000 masks in the next few days and will be distributing them to customers."

"We will also be making arrangements for hand sanitisers so that when customers enter shops, they can use them," he said.

19:16 March 04

Coronavirus outbreak a right time to revisit Ayurveda wisdom on prevention: Amway CEO

Crisis like outbreak of coronavirus provides an opportunity to revisit the ancient wisdom of Ayurveda for prevention of diseases through improved immunity and combine it with Western science for a holistic healthy living, according to global direct selling major Amway CEO Milind Pant.

Amway, which counts China as its largest market and was allowed to run its factory in Guangzhou to produce its 'Nutrilite' health products although others in manufacturing sector such as cars and electronics have been shut, believes India could also consider building long-term immunity and a healthy society as the Chinese have done in the wake of the outbreak.

"This is the right time. When there's a high consciousness in society about healthy living and prevention. This is a good time for us to go back to our roots and see what strengths are there and combine it with efficacy and Western science."

19:16 March 04

Rupee slides 20 paise to close at 73.39 as coronavirus scare keeps rate cut optimism in check

The rupee swung wildly before closing down by 20 paise at 73.39 against the US currency on Wednesday as increasing number of coronavirus cases in India kept investors on edge despite a rate cut by the US Federal Reserve.

The rupee had opened strong and raced to a high of 72.90 to the US dollar in early trade following weakness in the US currency after the rate cut by the US Fed.

19:15 March 04

Every divisional, sub-divisional hospital in zones should have isolation wards: Rlys

Ministry of Railways has suggested few measures to ensure preparedness of railways to fight coronavirus. The ministry said every Divisional/Sub-divisional/Hospitals of the Zone should have isolation ward for treating suspected coronavirus cases with availability of necessary protective gears.

19:15 March 04

No re-booking charges for passengers travelling to Kuwait next week: Air India Express

Air India's international budget arm Air India Express has said it will not charge any fee on re-booking of tickets by the passengers travelling to Kuwait between March 8-15 following the issuance of fresh instructions by the Kuwaiti government in the wake of the coronavirus outbreak.

Such passengers can rebook a date that falls within seven days of the original booking date, Air India Express said in a statement.

"In order to facilitate the compliance of this requirement, Air India Express has decided to allow free date modification to passengers who are booked to fly to Kuwait between March 8 and 15," the airline said.

19:14 March 04

Export of engineering goods may see marginal decline: Council

Export of engineering goods from India is likely to witness a marginal decline during this financial year, chairman of Engineering Export Promotion Council (EEPC) Ravi Sehgal said.

The country had registered exports worth USD 81 billion last fiscal and there was a great expectation to cross that mark. But the global trade war between China and USA took the toll on India due to lesser demand, Sehgal said.

To cap it all, the spread of coronavirus also had a great impact on the exports due to which Indian exports are expected to be below USD 80 billion, Sehgal, here as a part of organising three-day 9th International Engineering Sourcing Show (IESS), said.

19:14 March 04

Infinix cancels S5 Pro launch event amid coronavirus outbreak

After Xiaomi and realme, Chinese smartphone maker Infinix has now called off the launch event of its flagship, S5 Pro slated for later this week here.

"In the wake of growing concern for the global outbreak of COVID-19...Infinix Mobile has decided to cancel the launch event of our most awaited device," Infinix Mobile CEO Anish Kapoor said in an emailed statement.

He added that Infinix - which is part of China's Transsion Holdings - is closely monitoring the situation.

"To prevent its (coronavirus) spread, we are not encouraging any on-ground events at present because of the possibility of further increasing the risk," he said.

17:18 March 04

Germany bans export of medical protective gear over coronavirus

Germany's interior ministry has banned exports of medical protection gear such as masks and gloves to ensure that health workers in the country have enough to deal with the coronavirus outbreak.

The move comes as governments around the world are scrambling to protect supplies as fears over the deadly virus have sparked panic buying, hoarding and even theft.

In a statement, Germany's interior ministry said it had published a decree in the Federal Gazette outlawing "the export abroad of medical protective gear (masks, gloves, protective suits, etc.)".

17:04 March 04

Facebook to help combat virus misinformation

Facebook CEO Mark Zuckerberg says the social network is stepping up its efforts to combat virus-related misinformation by giving the World Health Organization free advertising.

Zuckerberg said in a post on his Facebook account that the company is working with national health ministries and global organizations like the World Health Orgnization, the US Centers for Disease Control and Prevention and UNICEF to get out timely and accurate information on the virus.

Zuckerberg said Facebook will also give “support and millions more in ad credits” to other unspecified organizations.

17:01 March 04

India Inc issues personal advisories on COVID-19 control

India Inc has sent personal advisories against coronavirus jitters as industrialist Anand Mahindra pushed for work from home culture and Harish Mariwala said people should stop spreading fake news.

Mahindra Group Chairman Anand Mahindra said he was hopeful that the crisis would be over, but pointed out that this will make "the world press a permanent reset button".

He anticipated that it would accelerate 'work from home' culture and lead to more virtual conferences. It would also lead to less travel, and hence, leave a greener footprint.

Harsh Mariwala, Chairman of Marico, was vocal against those who spread misinformation in such sensitive times.

He was against WhatsApp forwards and urged his followers to believe in news from authentic sources.

RPG Enterprises Chairman Harsh Goenka said he wanted to see "some joker" saying he/she has found an "unconventional" cure for the virus.

16:59 March 04

Amul posts ad, calls for cleanliness

#Amul Topical: Precautions against the Coronavirus! pic.twitter.com/kdilfocb0f
— Amul.coop (@Amul_Coop) March 3, 2020 " class="align-text-top noRightClick twitterSection" data="
#Amul Topical: Precautions against the Coronavirus! pic.twitter.com/kdilfocb0f
— Amul.coop (@Amul_Coop) March 3, 2020
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#Amul Topical: Precautions against the Coronavirus! pic.twitter.com/kdilfocb0f
— Amul.coop (@Amul_Coop) March 3, 2020

Amid the coronavirus (COVID-19) outbreak, India's dairy giant Amul has dropped an ad on their Twitter handle with an appeal requesting people to stay safe and adopt all precautionary measures.

The comic creative titled "Better saaf than sorry" was shared by Amul's official Twitter handle and has gathered about 1,000 likes so far.

16:56 March 04

Employees sent home as a precautionary measure

Some companies at Raheja Mindspace IT Park in the IT hub of Hitech City sent their employees home as a precautionary measure.

As a precautionary measure, some employers asked their employees to work from home. A multi-national company, located adjacent to the office where she was working, asked its employees to avail Work From Home (WHF).

Stating that the company takes health concern of all its employees seriously, the HR head advised them to use hand sanitisers and avoid touching objects in common areas.

The employees were advised to use stairs instead of the elevators while leaving the office.

Two more persons including a woman techie were tested positive in the preliminary test at Gandhi Hospital. Their samples were sent to National Institute of Virology (NIV), Pune for further testing.

16:47 March 04

Sales of masks, sanitizers increased in Delhi

Sales of masks, sanitizers increased in Delhi

With the guidelines of Union Health Ministry for using masks and washing hands frequently and usage of sanitizers, the sales of these items has increased rapidly. A medical store owner said, “We have availed sanitizers and masks in our shop and the sale has rapidly increased of these items. People are alert now and are using masks and sanitizers. ”

16:46 March 04

Virus hammers business travel as wary companies nix trips

Amazon and other big companies are trying to keep their employees healthy by banning business trips, but they've dealt a gut punch to a travel industry already reeling from the virus outbreak.

The Seattle-based online retail giant has told its nearly 800,000 workers to postpone any non-essential travel within the United States or around the globe.

Swiss food giant Nestle told its 291,000 employees worldwide to limit domestic business travel and halt international travel until March 15.

French cosmetics maker L'Oréal, which employs 86,000 people, issued a similar ban until March 31.

Other companies, like Twitter, are telling their employees worldwide to work from home.

Google gave that directive to its staff of 8,000 at its European headquarters in Dublin on Tuesday.

Major business gatherings, like the Geneva International Motor Show and the Mobile World Congress in Barcelona, have also been canceled.

16:28 March 04

Coronavirus to hit revenues, we're prepared: MakeMyTrip CEO

Leading online travel aggregator MakeMyTrip is bracing itself for a severe turbulence as its over-all revenues are set to be hit at least for the first half of this year.

According to Deep Kalra, Founder and Executive Chairman MakeMyTrip, the word of travel has been ravaged due to global coronavirus (COVID-19) outbreak.

"People initially weren't travelling to China, Hong Kong and then, the list included Singapore, South Korea and now European countries. A lot of people are putting their plans on hold. It's a very difficult time and one can only hope this will stop soon," Kalra said.

"It's clear that coronavirus will impact over-all revenues because of the cancellation of holiday plans. But we are taking all the major steps to minimise the impact," Kalra explained.

16:23 March 04

SEBI internally assessing potential impact of coronavirus on markets

SEBI is "internally assessing" the potential impact of the coronavirus epidemic on the capital markets, its Whole-Time Member S K Mohanty said.

He, however, said the Financial Sector Development Council (FSDC), an apex body of regulators formed by the government, is yet to get involved in the discussions.

"SEBI is aware of coronavirus and the possible impact that it can have on the market. We are taking the necessary steps," Mohanty told reporters here.

16:13 March 04

Hyderabad facing shortage of masks due to corona fear

Hyderabad is falling short of masks due ti increase in demand because of corona fear. There is a shortage of Filter masks, N95 masks.

According to shoppers, Surgical masks are available but they won't last for long. Shoppers are saying that distributors are selling masks at premium rate so we are selling with extra price.

Distributors are saying 'there is less stock available due to export.'

Surgical mask, which costs Rs 2 on normal days, is selling at Rs 10. Shoppers are selling N95 mask for Rs 150 which is normally priced at Rs 45.

15:48 March 04

RBI needs to find room for rate cut to deal with impact of coronavirus

The RBI needs to find room for more rate cuts to deal with the impact of coronavirus on the economy, says IDFC Mutual Fund report.

The report titled 'The Coronavirus and Revealed Preferences' further said the RBI, on its part, has a dominant revealed current preference for bringing back credit growth.

"Again the revealed preference in MPC (on aggregate, not necessarily for each individual member) seemed to be to look for room to ease as soon as inflation allowed, even before the impact from the coronavirus had taken hold. With new evolving information, the nudge is likely to come sooner than before," the report said.

15:20 March 04

Russia bans export of masks, hazmat suits to fight virus

Russia has banned the export of masks, respirators and hazmat suits to ensure access to the items for medics treating coronavirus patients and the public, under a decree published Wednesday.

The ban covers 17 types of equipment including face masks, plastic shoe covers, gloves, surgical scrubs, gas masks, hazmat suits and "reusable anti-plague" suits.

14:02 March 04

Coronavirus drags Hong Kong business outlook to record low

Hong Kong's business outlook hit a record low in February, according to data released today as the coronavirus outbreak added to the financial hub's troubles following months of political turmoil.

The Purchasing Managers' Index (PMI) for the city's economy plunged to its lowest mark since the gauge began, worse than the SARS outbreak in 2003 and the global financial crisis in 2007-2008.

13:54 March 04

Google cancels I/O developer conference in US

Google on Wednesday announced to cancel its biggest tech event I/O developer conference in May owing to the ongoing coronavirus outbreak.

"Due to concerns around the coronavirus (COVID-19), and in accordance with health guidance from the CDC, WHO, and other health authorities, we have decided to cancel the physical Google I/O event at Shoreline Amphitheatre," a Google spokesperson said in a statement.

13:41 March 04

The 30-share index dropped 637 points to 37,985.80

Sensex Dropped 637 points

Sensex Dropped 637 points

The 30-share index dropped 591.63 points, or 1.53 per cent, to 38,032, while the NSE Nifty cracked 181.15 points, or 1.60 per cent, to 11,122.15 at 1:40 pm

IndusInd Bank, Tata Steel, HDFC Bank, SBI and ICICI Bank were among the top losers, while Bajaj Auto, Asian Paints, Bharti Airtel and HCL Tech were trading with gains in the opening session.

In the previous session, the 30-share BSE barometer surged 479.68 points or 1.26 per cent to end at 38,623.70, and the broader Nifty jumped 170.55 points or 1.53 per cent to close at 11,303.30.

13:34 March 04

All int'l flights to be screened for COVID-19; 28 positive cases so far in India: Health minister

Union Health Minister Harsh Vardhan said 28 positive cases of coronavirus have been detected so far in India and announced that all international flights and passengers will now have to undergo screening, and not just the 12 countries listed earlier.

Harsh Vradhan says there are a total of 28 COVID-19 (Coronavirus) cases in India; 1 in Delhi, 6 in Agra, 16 Italian tourists and their Indian driver, 1 in Telangana and 3 in Kerala.

Minister said he met with Delhi's health minister, corporation officials and urged them to augment facilities of isolation wards in hospitals: Health Min on COVID-19.

He added that the 6 novel Coronavirus cases in Agra are relatives of Delhi-based man who tested positive earlier.

Also says all international passengers are to be screened for novel Coronavirus symptoms.

13:31 March 04

Intel employee exposed to coronavirus, under quarantine

Tech giant Intel has said one of its employees in Bengaluru has "potentially been exposed" to coronavirus and is currently under quarantine.

The company also said it has implemented precautionary measures like travel restrictions, increased frequency of office sanitisation, and work-from-home provisions in India.

13:26 March 04

Hyderabad Metro Rail sprayed disinfectant at stations and inside metro coaches

Hyderabad Metro Rail sprayed disinfectant at stations and inside metro coaches. The state government has also issued public advisories as part of an awareness campaign.

13:26 March 04

Yatra.com says airfares to Southeast Asia, Italy dropped by 20-30%

The travel agency has received about 35 percent of cancellation queries from travelers planning their trips to foreign locations during the holiday season. "We at Yatra.com are advising and helping customers to postpone their travel dates and book their tickets accordingly," she added.

"Travelers are now looking at alternate foreign destinations from India, such as Sri Lanka and Bhutan for summer travel.

13:20 March 04

Polished Diamond prices slide amid coronavirus fears

Diamond Trading declined sharply in February due to economic uncertainty due to the coronavirus. Manufacturers and dealers are facing a severe liquidity crunch as sales to China and Hong Kong have stopped. Diamond prices dropped as a result of the slowdown, with the RapNet Diamond Index for 1-carat diamonds down 1.6 per cent in February.

The slump in jewellery sales means stores have more inventory than usual for this time of year. Chinese buyers are not expected to return to the market in the coming months. That will result in a build-up of excess goods and a squeeze on liquidity among polished-diamond suppliers.

(Inputs from agencies)

Last Updated : Mar 5, 2020, 8:30 PM IST

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