Day: May 18, 2020

US facing severe crisis, but not a depression: Fed’s Powell

The US is facing a severe economic downturn amid the global pandemic, but will not suffer another Great Depression and will see a recovery begin later this year, Federal Reserve Chair Jerome Powell said Sunday. The world’s top economy was strong before the COVID-19 outbreak hit, like a […]

Xi defends China’s virus response, offers vaccine when ready

Chinese President Xi Jinping said Monday Beijing has been “transparent” throughout the coronavirus crisis, and offered to share a vaccine as soon as one was available — as well as $2 billion in aid. Governments including the US and Australia have called in recent weeks for an investigation […]

2016 repeat? Trump revives Clinton playbook to battle Biden

NEW YORK — Accusations of a “deep state” conspiracy. Allegations of personal and family corruption. Painting an opponent as a Washington insider not to be trusted. It’s 2016 again. Or at least that’s President Donald Trump’s hope. Trump and his allies are dusting off the playbook that helped […]

In race to COVID-19 drugs, EU may fast track remdesivir sale before U.S.

BRUSSELS – The European Union may give an initial green light in the coming days for sale of the drug remdesivir as a COVID-19 treatment, the head of its medicines agency said on Monday, fast-tracking the drug to market amid tight global competition for resources. The United States, […]

Moderna’s COVID-19 vaccine shows promise in early study, shares soar

Moderna Inc said on Monday its experimental COVID-19 vaccine showed promise in a small early-stage trial, with the vaccine producing virus-neutralizing antibodies similar to that found in recovered patients, sending shares soaring 25%. The company’s vaccine is at the forefront of the efforts in developing a treatment for […]

Cash-strapped India’s economic plan unlikely to soften coronavirus blow

NEW DELHI – India’s $266 billion economic rescue package rests mostly on boosting company credit but contains scant new public spending, tax breaks or cash support to revive demand and prevent firms from collapsing, business leaders and economists say. Businesses from airlines to small stores are reeling from […]

Outbreak at Chinese-owned factory shows challenges of easing India’s lockdown

NEW DELHI – Chinese smartphone maker OPPO suspended operations at a recently re-opened plant in India after workers tested positive for the coronavirus, an official said on Monday, underlining the challenges of easing a near two-month nationwide lockdown. The factory, located on the outskirts of capital New Delhi, […]

Vice President Shri Naidu calls for new ways of living with learning from corona lessons

Calls for new attitudes towards life and humanity Disease or economy hurts all; inter-connected living is the key lesson, says VP COVID brought to fore philosophical and moral issues; exposed effects of economic fault lines Calls COVID a civilizational concern Shri Naidu suggests 12- point new normal for […]

Update at 1730 Hrs IST: Super Cyclonic Storm ‘AMPHAN’ over west-central and adjoining central parts of South Bay of Bengal

open view news desk NEW DELHI, MAY 18: According to the latestrelease (at 1730 Hrs. IST)by the Cyclone Warning Divisionof the India Meteorological Department: The Super Cyclonic Storm‘AMPHAN’ (pronounced as UM-PUN) over west-central and adjoining central parts of South Bay of Bengal moved nearly northwards with a speed of 07 kmph during […]

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