World

India’s Cabinet Secretary reviews arrangements for COVID vaccine roll-out
3Dec mmBy Joe RodriguezNo Comments
Asia, USA, World

India’s Cabinet Secretary reviews arrangements for COVID vaccine roll-out

In a high-level meeting, Cabinet Secretary of India, Rajiv Gauba asked all the states and union territories to prepare and maintain a database of the prioritized group of people to receive the COVID-19 vaccine during the initial stages.Chief Secretary of the union territory of Jammu and Kashmir, BVR Subrahmanyam, and Director General of J&K Police, Dilbag Singh along with Chief Secretaries of all the states/UTs participated in the meeting.While reviewing the public health response to COVID-19, the Cabinet Secretary said that at present, three companies are frontrunners in developing COVID-19 vaccines in India, which are currently in the third phase of clinical trials and will be shortly available for usage.He asked the States/UTs to “develop respective databases to prioritize various g...
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Kelly Evans: The bond market goes “risk-on”
3Dec By Desk TeamNo Comments
Market, World

Kelly Evans: The bond market goes “risk-on”

Pretty impressive move in the 10-year Treasury note yesterday; the yield jumped above 0.95% and is holding there this morning. That puts us back to nearly the highs we reached on election night. We haven't been above 1% since March. It wasn't just there that we saw some big bond-market moves; investors also piled into high-yield a.k.a. "junk" bonds and drove the yield on the Barclays' index down by the same amount as Treasury yields rose, about 10 basis points. That's a pretty big "risk-on" signal, as analyst Brian Reynolds of Reynolds Strategy pointed out; what's more, it's the second such day in a month of such combined moves (the first being Nov. 9th, on Pfizer's vaccine announcement). That means we've got a "cluster" now of risk-on credit days, which is historically a bullish thing. ...
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Jim Cramer: Stock moves mark the end of ‘tyranny of the index funds’
3Dec By Desk TeamNo Comments
Market, World

Jim Cramer: Stock moves mark the end of ‘tyranny of the index funds’

After a down day for stocks in Wednesday's session, CNBC's Jim Cramer said the market is giving investors a chance to buy individual stocks now that Wall Street has broken away from the "tyranny of the index funds." "There's been a move to own individual stocks led by younger, often novice investors who've been captivated by a world of commission-free trading," the "Mad Money" host said. "It took me a little while to realize it, but the no-commissions — it's been revolutionary." The comments came after stocks traded lower for the second day in a row, with the Dow and S&P 500 pulling back from record levels as state and local governments put new restrictions in place to mitigate the second wave of the coronavirus and researchers continued to post optimistic results from late-stage vaccine...
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Indians in Kamala Harris’ ancestral home wake up to her victory
2Dec By Desk TeamNo Comments
World

Indians in Kamala Harris’ ancestral home wake up to her victory

THULASENDRAPURAM, India: After rooting for Kamala Harris as President-elect Joe Biden's running mate, people in her small ancestral Indian village woke up on Sunday (Nov 8) morning to the news of her making history. Most of them had gone to sleep by the time Biden clinched the winning threshold of 270 Electoral College votes. "Congratulations Kamala Harris. Pride of our village. Vanakkam (Greetings) America," one female resident wrote in colour powder outside her residence. "We all have been waiting for this day. Congratulations," Aulmozhi Sudhakar, a village councillor, said. The village of Thulasendrapuram, population 350, planned to celebrate Harris' success with singing, dancing and firecrackers at a temple later on Sunday. Already in the morning hours, groups gathered at ...
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12 new imported COVID-19 cases in Singapore, largest increase in more than a week
2Dec By Desk TeamNo Comments
Asia, Singapore, World

12 new imported COVID-19 cases in Singapore, largest increase in more than a week

SINGAPORE: Singapore reported 12 new COVID-19 cases on Sunday (Nov 22), all of which were imported infections, said the Ministry of Health (MOH). This is the largest increase in infections since Nov 13, when 12 imported cases were reported as well. No locally transmitted cases were reported for the 12th consecutive day. All the imported COVID-19 cases were placed on stay-home notice upon arrival in Singapore, MOH said. They were asymptomatic, and detected from proactive screening and surveillance, the ministry added. Of the 12 cases, three are Singapore permanent residents who returned from India. Two other cases also arrived from India, a dependent's pass holder and a student's pass holder. Five are work permit holders currently employed in Singapore who arrived from the Philippi...
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Commentary: After years of demonising China, the US has to start an honest dialogue
1Dec By Desk TeamNo Comments
Asia, China, World

Commentary: After years of demonising China, the US has to start an honest dialogue

Biden’s presidency offers a chance to change the tone and approach in dealing with China, which will not be cowed by threats, say two observers. HONG KONG: Americans don’t agree on much of anything nowadays. Yet they are largely united in their belief that China represents an existential challenge to their country and the international order it has long led. This combination of internal division and external demonisation has made the Sino-American rivalry increasingly inescapable – and potentially catastrophic. America’s internal divisions have been fueled in recent years by social media, which, by populating users’ feeds with tailored content, creates “echo chambers” that reinforce, rather than challenge, their beliefs and values. When alternative ideas do make it into the echo ch...
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US weekly jobless claims fall modestly; labour market recovery slowing
1Dec By Desk TeamNo Comments
Market, World

US weekly jobless claims fall modestly; labour market recovery slowing

WASHINGTON: The number of Americans filing new claims for unemployment benefits fell only slightly last week, adding to signs that the economic recovery was losing steam as the COVID-19 pandemic intensifies and fiscal stimulus ends. The economy could be plunged into a period of uncertainty following Tuesday's presidential election, potentially undermining business investment and delaying a much-needed second coronavirus relief package from the government. Democrat Joe Biden edged closer to victory on Thursday (Nov 5), while President Donald Trump alleged fraud without providing evidence, filing lawsuits and calling for recounts in a race yet to be decided two days after polls closed. "It looks like a second wave of layoffs is hitting the economy perhaps due to the rising count of vi...
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J&K: Snowfall unlocks Kashmir tourism
29Nov mmBy Joe RodriguezNo Comments
Asia, World

J&K: Snowfall unlocks Kashmir tourism

After witnessing a slump for more than seven months due to outbreak of Covid-19 in Indian union territory of Jammu and Kashmir, there is a ray of hope for the valley’s ailing tourism sector as the fresh snowfall in higher reaches is attracting tourists once again.Gulmarg in Baramulla district, which recorded almost two feet of snowfall, has come to life as tourists have started thronging this popular ski-resort. On November 15, as many as 574 tourists arrived at the Srinagar International Airport from different cities, mostly Bengaluru, Kolkata, Chennai and Mumbai to spend their ongoing Diwali vacations here, officials said.As per J&K Tourism department officials, November 15’s tourist arrivals are the “highest single-day visitor arrivals to the Valley registered during the last seven ...
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US imposes sanctions on Russian, Chinese firms for supporting Iran missile programme
28Nov mmBy Mike TrudellNo Comments
China, World

US imposes sanctions on Russian, Chinese firms for supporting Iran missile programme

United States Secretary of State Mike Pompeo on Friday said that the country has imposed sanctions on four companies from China and Russia for supporting Iran’s missile programme that remains a “significant proliferation concern”.“The US has sanctioned four entities in China and Russia for their support of Iran’s missile programme, which remains a significant proliferation concern. We will continue to use all our sanctions tools to prevent Iran from advancing its missile capabilities,” Pompeo said.The companies are Chengdu Best New Materials Co Ltd and Zibo Elim Trade Co, Ltd. in China and Nilco Group, which is also known as Nil Fam Khazar Company and Santers Holding and Joint Stock Company Elecon in Russia for transferring sensitive technology and items to Iran’s missile programme.In 2018...
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Despite growing tensions, China buying computer chips from Taiwan firms
27Nov mmBy Walter ParezNo Comments
Asia, China, Market, World

Despite growing tensions, China buying computer chips from Taiwan firms

Despite growing tensions between Taiwan and China, Chinese technology companies have increased orders for computer chips or semiconductors made in Taiwan.According to media reports, Taiwan has reported a six per cent jump in export from July through September this year.Alicia Garcia Herrero, chief Asia-Pacific economist with the French investment bank Natixis said, “They (Chinese firms) know they’re not yet able to produce at least the highest-end semiconductors needed for 5G.”She added that Taiwan makes top-level semiconductors and is unlikely to give up as a leader in the field. Taiwan factories produce some of the world’s top computer chips. But during the past four years, it has pushed companies to depend less on the Chinese market.The two countries have been locked in a political disp...
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