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Wednesday
June 2020
6:13 AM IST
News Headlines
Competitive sports resume in England after 75-day shutdown        Amit, Vikas nominated for Khel Ratna by BFI; 3 names for Arjuna        Indian manufacturing output falls further in May, rate of job cuts accelerates: PMI        Sensex, Nifty spurt over 2 pc as India begins to unlock economy        Violent protests engulf US, thousands arrested and nearly 40 cities under curfew        Hong Kong blocks Tiananmen vigil; rush on for UK passports        Depression in Arabian Sea to intensify into severe cyclonic storm; will impact Mumbai        Deferred due to coronavirus, elections to 18 RS seats to be held on June 19: EC        Cabinet decisions will bring positive changes in lives of farmers, labourers, workers: PM        COVID-19: India now seventh worst-hit country in world        Mercury plummets as rain lashes Haryana and Punjab        New biography on PM Modi released        Oman reports 1,014 new COVID-19 cases, 11,437 in total        SpaceX Nasa Mission: Astronauts on historic mission enter space station        Woman dies of COVID-19 in Kerala, toll rises to ten; 61 new cases reported        DINGKO Cancer-stricken boxing hero Dingko Singh tests positive for COVID-19        As Lockdown-4 ends, home ministry issues guidelines for ''Unlock-1'' from June 8        COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected        Locusts in TN local grasshopper species, pose no threat, says govt        Delhi-Moscow AI flight returns midway after pilot found COVID-19 positive        
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Business News
New IMF chief says trade tensions could cut global GDP by 700 bln USD
 
Washington: Trade disputes are taking a toll on global economy, substantially weakening manufacturing activity and investment and holding back economic potential, Kristalina Georgieva, the new chief of the International Monetary Fund (IMF), said on Tuesday. "For the global economy, the cumulative effect of trade conflicts could mean a loss of around 700 billion U.S. dollars by 2020, or about 0.8 percent of GDP," the IMF managing director said at an event at the global lender''s headquarters ahead of the annual meetings of the IMF and the World Bank next week.

"As a reference, this is approximately the size of Switzerland''s entire economy," said the Bulgarian economist, who succeeded France''s Christine Lagarde and took office on Oct. 1. The U.S.-China trade conflict has not only increased direct costs on businesses and consumers, but also caused secondary effects, such as the loss of confidence and market reactions, said Georgieva, who is the former chief executive officer of the World Bank. "The results are clear. Everyone loses in a trade war," said Georgieva.

"So we need to work together, now, and find a lasting solution on trade." Noting that the global economy is in a "synchronized slowdown," the new IMF chief called for a "synchronized policy action" to accelerate growth and build more resilient economies. Policy priorities, she said, include using monetary policy wisely and enhancing financial stability, deploying fiscal tools to meet current challenges, implementing structural reforms for future growth, and embracing international cooperation. Georgieva, who has been a champion in the global fight against climate change, also said one of the priorities of the IMF is to assist countries as they reduce carbon emissions and become more climate resilient, urging countries to adopt "a significantly higher carbon price."

New research at the IMF confirms that carbon taxes can be one of the most powerful and efficient tools, Georgieva said. "But the key here is to change tax systems, not simply add a new tax," she added. "I am confident that if we cooperate -- mindful of each other''s challenges and interests -- we can deliver a better future for all," she said.


Indian manufacturing output falls further in May, rate of job cuts accelerates: PMI
Sensex, Nifty spurt over 2 pc as India begins to unlock economy
Patanjali''s plea for Ayurvedic medicine trials raises eyebrows
Reducing migrant worker population will impact Singapore economy: Industry groups
Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks
Will try to restart international flights before August: Puri
RBI extends moratorium on loans for another 3 months till Aug
Sensex, Nifty turn choppy; RIL jumps on KKR deal
Rupee rises 13 paise to 75.67 against US dollar in early trade
Bajaj Auto shares jump 6.50 pc after Q4 earnings
Rupee rises 6 paise to 75.60 against US dollar in early trade
Decide corruption cases in time involving retiring bank, govt officials: CVC
Consumers footfall increase, average basket value goes up at retail stores in lockdown 3.0
Decentralisation of cities, devt of far-flung areas can help address migrant workers' woes: Gadkari
Find out novel ways for revival of economy, not the failed ideas: BMS
Reliance Industries' Rs 53,000-crore rights issue to kick off on May 20
Rupee falls 13 paise to 75.59 against US dollar in early trade
Investor wealth plunges Rs 1.99 lakh cr as mkts plummet
Kotak Mahindra Bank Q4 profit down 4 pc to Rs 1,952 cr
Jet Airways insolvency resolution professional seeks fresh EoI for defunct airline
KERALA NEWS
Woman dies of COVID-19 in Kerala, toll rises to ten; 61 new cases reported
 Kozhikode/Thiruvananthapuram: A 53-year old woman, who returned from Riyadh recently succumbed to th  
COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected
Vijayan slams Railways for scheduling trains to Kerala without informing state
Kerala records 6th COVID-19 death
INTERNATIONAL NEWS
Violent protests engulf US, thousands arrested and nearly 40 cities under curfew
 Washington, Jun 1 (PTI) The US remained a tinderbox of anger and emotion as violent protests erupted
Hong Kong blocks Tiananmen vigil; rush on for UK passports
Oman reports 1,014 new COVID-19 cases, 11,437 in total
SpaceX Nasa Mission: Astronauts on historic mission enter space station
NATIONAL NEWS
Depression in Arabian Sea to intensify into severe cyclonic storm; will impact Mumbai
 New Delhi, Jun 1 (PTI) The depression in the Arabian Sea is likely to intensify into a severe cyclon
Deferred due to coronavirus, elections to 18 RS seats to be held on June 19: EC
Mercury plummets as rain lashes Haryana and Punjab
New biography on PM Modi released
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