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Global Economy Live News: Almost 400 mn jobs lost, says UN



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Godfrey Phillips India Q4 net profit falls 20% to Rs 38.43 cr

Pak Army appoints first female lieutenant general

  • Pakistan Army has appointed a woman officer as lieutenant general for the first time, the military’s media wing said on Tuesday.
  • Major General Nigar Johar, who got the coveted post of a three-star general, has also been appointed as the first female surgeon general of the Pakistan Army.

Firms in India downplay Chinese links amid wave of anti-China sentiment

  • Indian startups with Chinese funding and Chinese smartphone makers are actively touting their Indian-ness to users as they seek to address a growing wave of nationalism following a deadly border clash between the two countries earlier this month.
  • A skirmish between India and China at a disputed Himalayan border site left 20 Indian soldiers dead, adding to anti-China sentiments brewing since the coronavirus pandemic began.
  • Traders have since made calls to boycott Chinese goods, New Delhi has delayed Chinese imports at ports and on Monday, in its strongest move yet, India banned nearly five dozen Chinese apps including TikTok. The technology ministry said the apps were a threat to India’s sovereignty and security.

Global employment crisis deepening, equivalent of 400 mn jobs lost: UN

  • The coronavirus crisis has taken a much heavier toll on jobs than previously feared, the UN said Tuesday, warning that the situation in the Americas was particularly dire.
  • In a fresh study, the International Labour Organization (ILO) estimated that by the mid-year point, global working hours were down 14 percent compared to last December — equivalent to some 400 million full-time jobs.
  • That is more than double the number forecast by the UN organisation back in April, when it expected 6.7 percent of working hours to be lost by the end of the second three-month period of the year.

Only 60% people of my state get ration that is being provided by the Centre: Mamata Banerjee

Only 60% people of my state get ration that is being provided by the Centre: Mamata Banerjee

Maharashtra reports 245 deaths and 4878 new cases today, tally reaches 1,74,761

Housing prices index up 3.9% in Q4 of 2019-20 on an annual basis: RBI

  • All-India housing prices index rose by 3.9 per cent during the fourth quarter of 2019-20 compared to the year ago period, but contracted 0.2 per cent compared to the previous quarter, the RBI said on Tuesday.
  • The Reserve Bank of India (RBI) released its quarterly house price index (HPI) for the fourth quarter of 2019-20. The HPI is calculated on base year 2010-11.

620 new cases and 20 deaths reported in Gujarat

  • Tally – 32,446
  • Toll – 1,848

West Bengal reports 652 new cases and 15 deaths today

Lockdown measures in containment zones stand extended up to July 31: WB

Madhya Pradesh begins state-wide screening drive tomorrow

China says India’s ban on Chinese apps may violate WTO rules

  • China said on Tuesday that India’s move to ban 59 Chinese-origin mobile apps could be a breach of World Trade Organisation (WTO) rules, and urged New Delhi to create an open and fair business environment.
  • “India’s measure selectively and discriminatorily aims at certain Chinese apps on ambiguous and far-fetched grounds, runs against fair and transparent procedure requirements, abuses national security exceptions and (is suspected of) violating WTO rules,” Ji Rong, spokesman at the Chinese embassy in New Delhi, said in a statement.
  • India banned the apps on Monday, its strongest move against China in the online space since fighting erupted on the two countries’ border this month.

Tomorrow 10 AM onwards, across all my social media platforms, watch my conversation with Indian Nurses from around the world, who are on the frontline of the battle against covid-19

– Rahul Gandhi

ONGC reports first ever quarterly loss on impairment loss

  • State-owned Oil and Natural Gas Corp (ONGC) on Tuesday reported its first-ever quarterly loss after it took an impairment on slumping prices and hoped the government will free gas prices to end the era of unremunerative rates.
  • India’s top oil and gas producer reported a Rs 3,098 crore loss in the January-March quarter as compared to a profit of Rs 4,240 crore in the same period a year back.

Banks sanction over Rs 1 lakh cr loans to 30 lakh MSMEs under credit guarantee scheme

Pakistan International Airlines says EU agency suspends its European authorisation

  • The European Union Air Safety Agency (EASA) has suspended the authorisation for Pakistan’s national airline to operate in Europe for six months, the airline’s spokesman said on Tuesday.
  • The move follows the grounding of 262 Pakistani pilots whose licences the country’s aviation minister termed “dubious”.

Facebook agrees to audit its hate speech controls

  • Facebook Inc said on Monday it would submit itself to an audit of how it controls hate speech in a bid to appease a growing advertising boycott of the platform, as it prepared to address a group of advertisers on Tuesday.
  • The move comes as major advertisers such as Unilever and Starbucks have signed on to the “Stop Hate for Profit” campaign started by U.S. civil rights groups, which urges brands to pause their Facebook ads in July to pressure the social media giant to do more to take down hate speech.

Karnataka reports 947 new cases and 20 deaths

6 new cases reported from Dharavi area of Mumbai today, taking the total number of cases to 2268

Water bill waiver scheme of Delhi Jal Board extended by three months till 30th Sept 2020

Govt’s total liabilities rise to Rs 94.62 lakh cr in Jan-Mar FY20

  • The government’s total liabilities increased 0.8 per cent to Rs 94.62 lakh crore at March-end 2020 as compared to the preceding quarter, a finance ministry report said on Tuesday.
  • Public debt accounted for 90.9 per cent of total outstanding liabilities as on March 31, 2020, said the quarterly report on Public Debt Management.

Delhi High Court today directed North Delhi Municipal Corporation (NDMC) to release the pending salaries of teachers for the month of March forthwith after Delhi Government released around Rs 49 crores in favour of NDMC

Rs 50 cr investment, over 2,100 jobs expected in fresh Yamuna Expressway land allotments

  • Five garment manufacturing units and three private firms were allotted land along the Yamuna Expressway in Gautam Buddh Nagar on Tuesday, in a move likely to fetch investments worth Rs 50 crore and create 2,000 jobs in the region, officials said.
  • The allotted land pieces are in Sector 29 and 22 E managed by the Yamuna Expressway Industrial Development Authority (YEIDA) and close to the upcoming international Greenfield airport in Jewar.
  • As much as 9,500 sq metre (2.34 acre) land has been allotted to five readymade garment units in Sector 29 as part of the Apparel Park project, the officials said.

AP reports 704 COVID-19 cases, tally rises to 14,595

Air France eyeing 6,500 job cuts by 2022 : sources

Air France-KLM aims to present a plan to trade unions to cut just over 6,500 jobs by the end of 2022, with about half of those coming from natural departures, such as retirees who will not be replaced, two sources familiar with the matter said on Tuesday.

Tripura not thinking of extending lockdown: State education minister

Current account deficit narrows to 0.9 pc of GDP in 2019-20, down from 2.1 pc of GDP in previous fiscal, as trade deficit reduces: RBI

Number of cases rises to 948 in Himachal Pradesh, death toll at 8

131 persons have tested positive in Kerala today. Number of active cases stand at 2112, total 2,304 have recovered till now: Kerala Health Department

Ji Rong, Spokesperson of the Chinese Embassy in India, on India banning Chinese apps

Tamil Nadu reports 3,943 new cases and 60 deaths

  • Tally – 90,167
  • Toll – 1,201

Fitch cuts India growth projection to 8% for FY22; economy to shrink by 5 pc this fiscal

  • Fitch Ratings on Tuesday cut India’s growth forecast for 2021-22 fiscal to 8 per cent from 9.5 per cent projected last month. It, however, retained its projection of Indian economy contracting by 5 per cent in the current fiscal.
  • Indian economic growth stood at an estimated 4.2 per cent in 2019-20.
  • In its June update of Global Economic Outlook, Fitch projected Indian economy to grow 5.5 per cent in 2022-23.

India’s June monsoon rains 18% above average : weather office

  • India received 18% more rainfall than average in June as the monsoon covered the entire country nearly two weeks earlier than usual, the state-run weather office said on Tuesday.
  • Monsoons deliver about 70% of India’s annual rainfall and are the lifeblood of its $2.9 trillion economy, spurring farm output and boosting rural spending on items ranging from gold to cars, motorcycles and refrigerators

India records current account surplus of 0.1 per cent of GDP in Jan-Mar against deficit of 0.7 per cent of GDP in the year-ago period: RBI

NDMC extends last date of payment of property tax

North DMC has extended the last date of payment of property tax with 15% rebate for timely payment for the lump sum payment of the property tax for the year 2020-21. Earlier the last date was 30th June, 2020: North Delhi Mayor, Jai Prakash

Plea in SC against school fees during lockdown

  • Parents associations in eight states move Supreme Court for regulatory mechanisms for school fees in private schools during lockdown.
  • Plea says full fees should not be charged for online classes, also says sevral schools charging extra fees for online classes.

Obey corona norms, PM Modi says in address to nation: Watch highlights

Covid-19: 10-day total lockdown in Thane city, Mira Bhayander

Thane city will observe a total lockdown between July 2-12 to contain the coronavirus outbreak, municipal commissioner Vipin Sharma said on Tuesday.

Goats and sheep quarantined after shepherd contracts Covid-19

  • About 50 goats and sheep have been kept in isolation at a village in Tumakuru district after a shepherd tested positive for coronavirus, officials said on Tuesday.
  • The villagers panicked when they noticed that some goats and sheep at Godekere village in Gollarahatti taluk were having respiratory problems, an officer in the animal husbandry department of the district said.

Punjab schools are entitled to collect tuition fees for 2020-21: HC

Punjab High Court today ordered that all schools irrespective whether they offered online classes during lockdown or not, are entitled to collect tuition fee. However, schools shall restrain themselves from increasing fee for 2020-21 year & adopt same fee structure as of 2019-20.

Net claims of non-residents on India lowered by US$ 45.8 bn to US$ 379.3 bn in March 2020: RBI

Decline in net foreign-owned assets in India was due to reduction of US$ 28.1 bn in non-residents’ assets combined with increase of US$ 17.7 bn in Indian residents’ foreign assets

Amit Shah hails PM’s decision to extend PMGKY for 5 more months

Sanjay Kumar takes charge as new Maharashtra chief secretary

  • Maharashtra’s new chief secretary Sanjay Kumar took charge of his office on Tuesday, an official said here.
  • Kumar succeeded Ajoy Mehta, who will now assume the role of principal advisor to Chief Minister Uddhav Thackeray, a new position created in the backdrop of the COVID-19 crisis.

Services will remain closed for commuters until further notice: Delhi Metro

  • Delhi Metro services will remain closed for commuters until further notice, in view of the ‘Unlock 2’ guidelines issued by the government, officials said on Tuesday.
  • The Delhi Metro has been closed since March 22 when the ‘Janata Curfew’ was observed in the wake of the coronavirus pandemic. Subsequently, the nationwide lockdown was announced which came into effect from March 25.
  • “Delhi Metro services will remain closed for commuters until further notice, in view of the guidelines issued by the government,” a senior official said.

Rupee gains 7 paise to 75.51 against dollar on weak crude oil

India looks to sign long-term LNG deal benchmarked to spot prices

  • In a first, India’s biggest LNG importer Petronet on Tuesday said it is close to signing a long-term LNG deal benchmarked to daily or spot prices, which generally are lower than standard rates of such contracts.
  • India bought liquefied natural gas (LNG) under long-term contracts from Qatar and Australia at an average of USD 3.5-4.5 per million British thermal unit in the current quarter. Spot or current prices of LNG – gas turned into liquid at sub-zero temperature for ease of transporting in ships – are in the range of USD 2.

Sebi slaps Rs 25 lakh fine on Sheen Agro’s directors

Markets regulator Sebi has imposed a fine of Rs 25 lakh on nine directors of Sheen Agro & Plantation Ltd for mobilizing fresh funds through unregistered collective investment scheme (CIS) even after filing winding up report with the markets regulator.

West Bengal Chief Secretary writes to Ajay Bhalla for metro train resumption in the state

Pakistan’s PM says ‘no doubt’ that India was behind stock exchange attack

  • Pakistani Prime Minister Imran Khan told parliament on Tuesday he had ‘no doubt’ that India was behind an attack on the stock exchange building in Karachi a day earlier.
  • Four gunmen armed with grenades attacked the Pakistan Stock Exchange on Monday, killing two guards and a policeman before security forces killed the attackers.
  • India said on Monday it had nothing to do with the assault.

Banning some apps isn’t enough, we have to give China a befitting reply

– Mamata Banerjee

Loan recasts to only defer problem, NPAs may zoom up to 14% due to covid-19: S&P

  • Amid reports of the RBI mulling restructuring of loans, global rating agency S&P on Tuesday said that a loan recast will only defer NPAs recognition and not solve the problem.
  • The agency also said operational outages and the recession because of the pandemic will have a deeper and longer impact on lenders than previously assumed, and estimated the gross non-performing assets ratio to rise up to 14 per cent in FY2021 from the 8.5 per cent in FY2020.

Eight core sectors’ output contracts 23.4% in May against 3.8% growth in same month last year: India Govt data

I am extending free ration for poor till June 2021: West Bengal CM Mamata Banerjee

Ruling Communist Party wants Nepal PM’s resignation in a standing committee meeting of the party

West Bengal new guidelines for Unlock 2

We are allowing morning walks from 5:30 am to 8:30 am but social distancing should be maintained. 50 people to be allowed at weddings and ‘sraddha’ instead of 25: West Bengal CM Mamata Banerjee

Petition filed in SC challenging petrol and diesel price hikes

Iran journalist who fuelled 2017 protests sentenced to death

  • Iran sentenced a once-exiled journalist to death over his online work that helped inspire nationwide economic protests that began at the end of 2017, authorities said Tuesday.
  • Ruhollah Zam’s website and a channel he created on the popular messaging app Telegram had spread the timings of the protests and embarrassing information about officials that directly challenged Iran’s Shiite theocracy.

EU to list which citizens can enter; US likely to miss out

  • The European Union on Tuesday is announcing a list of nations whose citizens will be allowed to enter 31 European countries, but most Americans are likely to be refused entry for at least another two weeks due to soaring coronavirus infections in the U.S.
  • As Europe’s economies reel from the impact of the coronavirus, southern EU countries like Greece, Italy and Spain are desperate to entice back sun-loving visitors and breathe life into their damaged tourism industries. More than 15 million Americans are estimated to travel to Europe each year, while some 10 million Europeans head across the Atlantic.

India’s federal fiscal deficit touches 58.6% of annual target in two months

India’s federal fiscal deficit in the first two months through May stood at 4.66 trillion rupees ($61.67 billion), or 58.6% of the budgeted target for the current fiscal year, government data showed on Tuesday.

Lockdown will be implemented in a stricter manner in Nashik from 7 pm to 5 am; it will be a curfew-like situation during this time: District Guardian Minister Chhagan Bhujbal

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SC pharmaceutical plant adds 380 jobs in $215M expansion




A pharmaceutical plant in South Carolina has announced a $215 million expansion, that will create 380 new jobs.

Nephron Pharmaceuticals Corp., in a news release Friday, said the expansion would include adding new office, warehouse and vaccine production space at its plant in Lexington County. The projected new jobs would be created by 2024, The State reported.

“Thanks to our partnerships with state and local officials, and the trust they have placed in us, we have been able to provide life-saving medications to patients around the world and establish ourselves as the global leader in what we do,” Nephron CEO Lou Kennedy said in the release.

Nephron develops and produces generic inhalation solutions and suspension products, including those used to treat severe respiratory distress symptoms associated with COVID-19, the company said.

The company has invested $313 million in its facility in West Columbia/Cayce, and has created more than 1,800 full- and part-time jobs over the last five years, the release said.

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City Council: ‘Whitewashed’ Comments Poor Choice Of Words | News, Sports, Jobs




Several members of the Jamestown City Council disagree with Jamestown Mayor Eddie Sundquist’s comment that the city’s employment policies are “Whitewashed.”

During the last “Justice June” rally held at Dow Park Sunday, June 28, Sundquist said the reintroduction of the Jamestown Commission on Human Rights will, “help us as a city know where we need to go, help us as a city be more inclusive.” He continued by stating, “I know that we have some policies that are frankly whitewashed. We have policies here in the city that say, ‘If you’re white, you get the job.’ Those are the things that we need to change, those are the things that I’m committed to changing here in this city.”

Tamu Graham-Reinhardt, At-Large councilwoman, said the whitewashed comment was a poor choice of words.

“I don’t know what his intent was. I know we do have to follow some strict policies for equal employment. The department heads have to look at several qualified candidates,” she said. “I think whitewashed is a poor choice of words.”

Anthony Dolce, council president, said he felt the term whitewashed was a “bit harsh” in describing the city’s employment policies. He said the Equal Employment Opportunity Policy Statement was updated by the council in October 2019.

“The (Equal Employment Opportunity) Policy was state recommended. It deals with everything from bullying to sexual harassment to racism to cyber issues,” he said.

Dolce said it is a challenge for city officials to recruit minorities.

“It’s a very difficult practice. We have to follow strict guidelines when it comes to civil service jobs,” he said. “It’s a complex issue, and to suggest that we only hire white people is inaccurate and a bit strong.”

Kimberly Ecklund, At-Large councilwoman, said she has received several phone calls from constituents asking what Sundquist meant by the whitewashed comment.

“I received multiple phone calls from people who were surprised and taken aback,” she said. “I thought (the comment) was extremely inappropriate. I for one know there are minorities employed by city government. My spouse (Keith Ecklund) is the only Asian I believe to (be a member) of the (Jamestown) Fire Department.”

Jeff Russell, At-Large councilman, said — as a retired Jamestown Police Department employee of more than 20 years — there are few minorities applying to be a police officer.

“I cannot speak for all departments, but on the police side there aren’t many (minority) applicants there. I would like to see more,” he said. “On the police side, there is a minimum of two years of college and then you have to apply for the academy and get through that, which is roughly six months long. Then you have to take the civil service test and score in the top three. From what I’ve seen personally, we’re not seeing minority applicants locally.”

Russell said during his career working with the Jamestown Police Department, he worked with two African Americans, with one leaving after nine years on the force to work for the FBI and the other who recently retired from the JPD. He also said there are several women police officers working for the city’s police department. He added that there is also a Hispanic officer who is bilingual working for the JPD.

“I didn’t see it as a whitewashed problem. It’s a lack of applicants,” he said.

Tom Nelson, Ward 6 councilman, said during his tenure on the council he has not seen a whitewashed problem.

“It’s nothing I’ve experienced and nothing I’ve seen,” he said.

Nelson said he believes Sundquist, who is in his first seven months as mayor, has dealt with a lot of issues like the COVID-19 pandemic and issues of race in city government.

“He has been faced with some tough things as a young mayor,” he said. “I think he’s doing a great job.”

All five of the council members believe it’s a good idea for Sundquist to reintroduce the Jamestown Commission on Human Rights.

“I think it’s a good idea,” Graham-Reinhardt said. “When (Sundquist) announced (Jamestown Commission on Human Rights), I cautioned Eddie about it needing to be a cross section from all members of the community. It shouldn’t be stacked with just African Americans and Latinos. It should also include the elderly and people with disabilities. We need to be thinking about all of the people in the community to ensure everyone’s voice is being heard.”

The Post-Journal also contacted Brent Sheldon, Ward 1 councilman, Vickye James, Ward 3 councilwoman, Marie Carrubba, Ward 4 councilwoman, and Grant Olson, Ward 5 councilman, for their opinions, but didn’t receive a response.

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The Wall | News, Sports, Jobs




Staff photo by Fritz Busch
Rodrigo Tojo Garcia of New Ulm spray paints over several messages on a building near the New Ulm Art Wall Friday.

NEW ULM — Police hope to catch individuals who continue to spray paint symbols and words of hate at the Art Wall park, on a nearby building, in a railroad underpass and on the New Ulm bike trail.

Emmie Turner, a local resident walking the bike path near the Art Wall Wednesday, noticed a crude painting of Hitler with a swastika body. Further down the path, near the tunnel over the railroad track, the passerby noticed more swastikas and use of the N-word.

On Thursday, she and a group of volunteers painted over the racist graffiti on the Art Wall and in the tunnel.

Friday morning, more racist language showed up on the wall.

Friday afternoon, a number of people including Rodrigo Tojo Garcia of New Ulm, returned to area near the Art Wall and repainted some of the message of hope and love.

“I heard they (hateful message creators) covered up some of the graffiti we did yesterday, so I can back to put it back on,” Tojo Garcia said.

Some of those messages read “Be the change the world needs. Spread love, not hate. An eye for an eye makes the world blind-Gandhi.”

After Tojo Garcia left the Wall Park, Kari Rose of New Ulm walked towards it on the trail.

“I think the hateful and racist messages are horrible,” Rose said. “There is no room for it in this town. It needs to change. I’m glad more and more people are stepping up to the plate, saying we’re not okay with it.”

“We’re investigating it. We have leads to follow up on,” said New Ulm Police Chief Dave Borchert. “I walk the trail myself by the Art Wall. I’d like to catch the people doing this.”

“We’re heard from a number of concerned citizens. A group of them is looking for the suspects. The comments are hurtful,” Borchert added.

Borchert said if officers see hateful graffiti, they’ll document it for evidence.

“I’ve never seen it this bad. It’s really spread,” Borchert said. “They’re damaging property now. Painting outside the wall, on the bike trail, underpass and on the state bridge is illegal.”

Borchert said individuals convicted of damage to property for painting messages on places other than the Art Wall could be charged with felonies if the costs to repair the damage exceeds $1,000. Such charges including lesser repair costs would be gross misdemeanors or misdemeanors.

“If it’s juveniles, we can do juvenile petitions for felonies. Reports would go to the Brown County Attorney’s Office,” Borchert said.

(Fritz Busch can be emailed at

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