Fans of your classic alternate-reality universe hook-ups were stunned last night after Drogon, the largest of Daenerys Targaryen's dragons, showed up on "Westworld."
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As social distancing measures lock down the US, Okeechobee County Commissioner Bryant Culpepper wants you to know there's a simpler solution: blowing a hair dryer up your nose. Culpepper has since apologized.
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The coronavirus is far more infectious than the common flu. To be precise, three to four times more. It doesn't sound like much, but it can spread to tens of thousands of people much faster.
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If you're like most people, you probably assume that when you flush your toilet sanitation wizards simply cast the scourgify charm as your expulsions exit the main pipe coming from your house, thereby eliminating it with little effort or expense. Here's what actually happens.
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Store-bought tomato sauce can be bland. With a few additions like garlic, onion, pepper flakes and butter, you can make it as close to homemade as possible.
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There is a certain beauty in the expanses of public space, now vacant amid the pandemic, these photos from around the world show. There is also a reminder: True beauty comes when the builders roam the built.
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Photographer Daniel Kaliko found out long ago that his most interesting subjects could be found right in his home; he began to devote his time to documenting all insects and anthropods in his vicinity.
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Sometimes the best way to understand a new situation is to step back — in this case way, way back — and get a look at what Europe under coronavirus lockdown looks like from space.
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Masks were required, and they made it easier for people to ignore one another. The costumes of the quarantine, along with other restrictions, turned people inward.
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After her daughter died of an overdose, Marianne Skolek Perez became an advocate on behalf of OxyContin victims, delving into how the drug was being sold.
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With 850 million children worldwide shut out of schools, tech evangelists claim now is the time for AI education. But as the technology's power grows, so too do the dangers that come with it.
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A study has cemented the link between an intense global warming episode 56 million years ago and volcanism in the North Atlantic, with implications for modern climate change.
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The amphibious assault ship USS Boxer transits the East Sea during Exercise Ssang Yong 2016 March 8, 2016. REUTERS/U.S. Navy/Mass Communication Specialist Seaman Craig Z. Rodarte/Handout via Reuters
The coronavirus has spread to at least a dozen US Navy sailors assigned to ships in San Diego, California, according to Navy statements.
The first three coronavirus infections aboard San Diego-based US Navy warships emerged among sailors assigned to the amphibious assault ship USS Boxer and Littoral Combat Ship USS Coronado. The Navy has changed its policy and is no longer reporting which ships infected sailors serve aboard.
Since the policy change, the Navy has reported nine additional cases among sailors assigned to ships based in San Diego.
As of Sunday, at least 111 US service members have reportedly tested positive for the virus.
The novel coronavirus has spread to at least a dozen US Navy sailors assigned to ships in San Diego, California, according to Navy statements.
The first sailor aboard a US warship to test positive for the coronavirus was a service member aboard the amphibious assault ship USS Boxer, currently at port in San Diego. That first sailor tested positive on March 13. A few days later, the Navy announced that a second sailor aboard the ship had the virus.
As the virus spread aboard the Boxer, the Navy revealed that a sailor aboard the Littoral Combat Ship USS Coronado, also in San Diego, had tested positive.
A B-2A Spirit bomber is escorted by F-15C Eagles, and Royal Norwegian Air Force F-35A aircraft in support of Bomber Task Force Europe 20-2 over Keflavik, Iceland, March 17, 2020. US Air Force/Master Sgt. Matthew Plew
* Increasing geopolitical tension between NATO and Russia has renewed attention on the North Atlantic and the Arctic. * Iceland sits between those two regions, and the latest trip there by US stealth bombers underscores how important the island is to military planners.
Six months after the US Air Force's B-2A Spirit made its first trip to Iceland, the stealth bomber made another flight over the island this week, teaming up with US F-15C fighters and Norwegian F-35A stealth fighters.
Two B-2s, deployed for Bomber Task Force Europe 20-2 and operating out of RAF Fairford in the UK, made the flight on March 16, supported by F-15C Eagles out of RAF Lakenheath and by Norwegian F-35 Lightning IIs flying from Iceland.
B-2s also took part in a Bomber Task Force deployment in August and September, during which the stealth bomber made its first stop ever in Iceland.
#UPDATE The Afghan government and the Taliban on Sunday held their first discussion on arranging prisoner exchanges, a key step in a broader push for peace, the US special envoy for Afghanistan said on Twitter https://t.co/R6c8NqTTjX
China has deployed a fleet of underwater drones in the Indian Ocean. According to Chinese government sources, the drones were launched in mid-December 2019 and recovered in February after making more than 3,400 observations. These Sea Wing gliders are a type of Uncrewed Underwater Vehicle (UUV) which can operate for months on end.
The gliders are similar to ones deployed by the U.S. Navy. When China seized a U.S. Navy ocean glider in 2016 the stated reason was to ensure "safe navigation of passing ships." Taken at face value, it may be surprising that China is now deploying these types of UUV en masse in the Indian Ocean. China has also deployed the Sea Wing from an ice breaker in the Arctic.
WNU Editor:The Chinese undersea drone is very similar to ones used by the US Navy. It makes one wonder if Chinese spies had a hand in making this possible.
U.S. envoy for peace in Afghanistan Zalmay Khalilzad, speaks during a debate at Tolo TV channel in Kabul, Afghanistan April 28, 2019. REUTERS/Omar Sobhani
KABUL (Reuters) - The Taliban and the Afghan government held a "virtual" meeting on prisoner releases on Sunday, officials said, offering some hope of a breakthrough on a matter that has deadlocked the two sides and threatened a nascent peace process.
The two sides have differed on the release of prisoners - the Afghan government wanting a phased and conditional release and the Taliban wanting all prisoners released in one go as envisaged in an agreement signed with the United States in Doha last month.
The impasse threatened to derail a carefully negotiated peace process outlined in the agreement, including a pullout of foreign forces from Afghanistan after over 18 years of fighting.
The two sides spoke for over two hours in a Skype meeting facilitated by the United States and Qatar, officials said.
* Merkel decided to immediately quarantine herself in her home, German government spokesman Steffen Seibert said. * She will be tested regularly over the coming days and will continue to conduct her duties as chancellor from home, Seibert said. * Germany, the European Union's largest economy, has banned meetings of more than two people in public for the next two weeks to contain the spreading virus. * Exceptions will be made for people who live together and for work-related gatherings.
German Chancellor Angela Merkel has made the decision to self-quarantine in her home after having contact with a doctor who tested positive for the coronavirus, making her the latest world leader to take precautions after possible exposure to the rapidly spreading disease.
Merkel was informed after a press conference Sunday that a doctor who administered a pneumococcal vaccine to her Friday afternoon tested positive for the virus, according to her spokesman Steffen Seibert.
RELEASE: The Canadian Olympic Committee and Canadian Paralympic Committee have made the difficult decision to not send Canadian teams to the Olympic and Paralympic Games in the summer of 2020: https://t.co/HyOBA5wwp4pic.twitter.com/x9OWABVxMA
Canadian Olympic and Paralympic Committees call for 1-year postponement.
The Canadian Olympic Committee and Canadian Paralympic Committee say they will not send athletes to compete in Tokyo if the Games — set to begin July 24 — go ahead as scheduled.
Backed by the Athletes' Commissions, National Sports Organizations and the Government of Canada, the COC and CPC say they have "made the difficult decision to not send Canadian teams to the Olympic and Paralympic Games in the summer of 2020."
The two committees are calling on the International Olympic Committee to postpone the Games for a year, citing the safety of athletes and the general public amid the COVID-19 pandemic.
"This is not solely about athlete health — it is about public health," the committees said in a statement Sunday night.
WNU Editor: This pandemic is nowhere close to coming to an end. And certainly not by July. I expect more countries will be making an announcement that they are not sending their teams to Tokyo this summer.
"It first struck me how different it was when I saw my first coronavirus patient go bad. I was like, Holy shit, this is not the flu. Watching this relatively young guy, gasping for air, pink frothy secretions coming out of his tube."
As of Friday, Louisiana was reporting 479 confirmed cases of COVID-19, one of the highest numbers in the country. Ten people had died. The majority of cases are in New Orleans, which now has one confirmed case for every 1,000 residents. New Orleans had held Mardi Gras celebrations just two weeks before its first patient, with more than a million revelers on its streets.
I spoke to a respiratory therapist there, whose job is to ensure that patients are breathing well. He works in a medium-sized city hospital's intensive care unit. (We are withholding his name and employer, as he fears retaliation.) Before the virus came to New Orleans, his days were pretty relaxed, nebulizing patients with asthma, adjusting oxygen tubes that run through the nose or, in the most severe cases, setting up and managing ventilators. His patients were usually older, with chronic health conditions and bad lungs.
WNU Editor: The above video is an interview with Dr. Michael Warner, medical director of critical care at Michael Garron Hospital in Canada. He has become a regular on CBC news, and I find him to be one of the best in explaining this disease, and what measures should be implemented. I also support his call for a nationwide lock-down. The exponential growth of this disease in Canada is accelerating, and everything must be done right now to stop it before we become another Italy or Spain.
Coronavirus is no plague or Spanish-flu, but we aren't who we once were either. So the end result may be the same?!? The young (representing the future) cannot cover the rapidly growing debt...and the policies to avoid dealing with the debt are ultimately destroying future economic activity.
The US is going bankrupt in half measures but double time. Global depression is now unavoidable and imminent.
Some thoughts on Coronavirus...
1- The Coronavirus ain't no black plague or Spanish-flu. Those were true killers that wiped out young and old without regard for the strength or age of the afflicted. In fact, Spanish-flu was attracted to the young adults above all else.
2- However, Coronavirus has come along when the 1st world is at its most vulnerable. Never have more elderly been artificially kept alive beyond their natural expiration dates by drugs and our 1st world medical system promoting quantity over quality. Never has the 1st world been more obese and suffered from more "lifestyle" diseases than now. Hypertension, Type-2 diabetes, heart disease, smoking / vaping lung related issues, drug abuse, etc. The 1st world has the best medicine in world history but capacity is limited and the vulnerable hordes will overwhelm our hospitals. BTW - one of the most vulnerable of populations are the truckers responsible for maintaining transportation...this weak link should be very worrisome.
WNU Editor: The U.S. is not going to go bankrupt as the above author believes that it will. What will happen is inflation, higher taxes, and interest rates that have not been seen since the early 1980s. Bottom line. This burden is going to be put on the shoulders on those below the age of 50, and they are going to pay a terrible price to pay this debt off to a manageable level. And the U.S. is not alone. Most countries are in a far worst situation .... List of countries by public debt (Wikipedia). On a side note. Russia is one of the best placed to financially weather this storm with one of the lowest debt-to-GDP ratios in the world.
Americans are split on whether to trust news media with information regarding the coronavirus outbreak, according to a new poll.
As Statista's Willem Roper notes, a joint poll conducted by NPR, PBS NewsHour and Marist, shows that 47 percent of U.S. adults responded by saying "not very much" or "not at all" when asked how much they trusted news media with coronavirus information.
This poll also included questions asking how much Americans trusted President Donald Trump, with 60 percent saying they didn't trust him with coronavirus information, and on public health experts, with 13 percent saying they had little to no trust.
WNU Editor: Regular readers of this blog know that I do not trust the media. It is not what they report that irks me, it is what they decide not to report that bothers me. For example, Friday night's CTV evening news broadcast (CTV is one of Canada's major news network) had a very critical story on President Trump's confrontation with an NBC reporter. There was no context behind the confrontation, the video itself was edited to feed the narrative that President Trump was attacking the reporter for no reason, and to make it worse it was followed by the CTV news reporter editorializing how unfit the President was. But what really killed me was the news story that then followed the one on President Trump. It was an over-the-top glowing news report on China and the government's apology to the Wuhan doctor who first made public the danger of the outbreak that was occurring in his hospital, and who eventually died from the disease. No reporting from CTV on how he was threatened by the authorities, no reporting on how China's deliberate policy of denial and obfuscation of even remedial measures to control this outbreak has resulted in the pandemic that we are all experiencing today. Nothing but praise for the government of China.
* Plan sets out who takes over if Mr Johnson becomes ill from coronavirus * Dominic Raab, the Foreign Secretary, will reportedly take on the top job * But other ministers are said to be unhappy at the idea
Senior Cabinet ministers are said to be at war over who gets to replace Boris Johnson in leading the nation if the Prime Minister comes down with coronavirus.
No 10 is believed to have set up a 'designated survivor' plan setting out who takes over if Mr Johnson becomes ill and is unable to continue working.
Dominic Raab, the Foreign Secretary and First Secretary of State, will take on the top job should it occur.
But the decision has not gone down well with some top Cabinet ministers who think it should be then stepping up to the plate, the Sunday Times reported.
U.S. Senate Majority Leader Mitch McConnell (R-KY) speaks to the media after a meeting to wrap up work on coronavirus economic aid legislation, during the coronavirus disease (COVID-19) outbreak, in Washington, U.S., March 22, 2020. REUTERS/Mary F. Calvert
WASHINGTON (Reuters) - Partisan battles in the U.S. Senate on Sunday stopped a coronavirus response bill from advancing, even as negotiations continued over Democrats' demands for more federal funding for medical care and state and local efforts to combat the outbreak.
The measure faltered after it failed to get the necessary 60 votes in the 100-member chamber to clear a procedural hurdle after days of negotiations.
Senate Majority Leader Mitch McConnell urged Democrats to stop their "obstruction," saying it was delaying aid and hurting financial markets.
The bill is Congress' third effort to blunt the economic toll of a disease that has killed at least 415 people in the United States and sickened more than 35,000, leading governors to order nearly a third of the nation's population to stay at home and putting much business activity on hold.
Even as President Trump says he tested negative for coronavirus, the COVID-19 pandemic raises the fear that huge swaths of the executive branch or even Congress and the Supreme Court could also be disabled, forcing the implementation of "continuity of government" plans that include evacuating Washington and "devolving" leadership to second-tier officials in remote and quarantined locations.
But Coronavirus is also new territory, where the military itself is vulnerable and the disaster scenarios being contemplated -- including the possibility of widespread domestic violence as a result of food shortages -- are forcing planners to look at what are called "extraordinary circumstances".
Above-Top Secret contingency plans already exist for what the military is supposed to do if all the Constitutional successors are incapacitated. Standby orders were issued more than three weeks ago to ready these plans, not just to protect Washington but also to prepare for the possibility of some form of martial law.
WNU Editor: No surprises here. If the central government is incapacitated, the military and state/local authorities will step up. But what caught my eye in this Newsweek story is this ....
.... Above-Top Secret contingency plans already exist for what the military is supposed to do if all the Constitutional successors are incapacitated. Standby orders were issued more than three weeks ago to ready these plans, not just to protect Washington but also to prepare for the possibility of some form of martial law.
Someone decided three weeks ago that the situation merited issuing a standby order to get ready to implement these plans if necessary.
Wall Street is only now coming to grips with the dislocation being wrought by the coronavirus.
The most brutal stretch for global markets since the financial crisis likely isn't over yet, say investors and analysts who believe it is too early to assess the possible scale of economic damage from the coronavirus.
In just a few weeks, U.S. stocks have lost roughly a third of their value. In recent weeks, investors have even fled assets like U.S. government bonds and gold that typically do well during times of turmoil, underscoring the extent of the panic and the shock to once-robust investor sentiment delivered by the global health emergency.
But many analysts and portfolio managers warn that neither those declines nor recent extraordinary actions by the Federal Reserve are likely to signal the end of the market crunch. They note that by historical standards, stocks' declines look modest compared with some prior downturns, given the early indications of how much damage virus-related shutdowns are likely to do to global growth. The S&P 500 is down 32% from its February peak. In comparison, stocks tumbled 57% during the financial crisis and 49% after the dot-com bubble burst in 2000 before beginning to rebound.
WNU Editor: I am not buying the narrative that it is "too early to assess the possible scale of economic damage from the coronavirus". IMHO it is very easy to determine what the economic damage is (and will be) for the simple reason that it has already happened. This global pandemic is hitting us now, and it is going to be with us for the next year or two. The shock and trauma of what people have experienced and/or are experiencing right now is going to take a long time to dissipate. I should know because I experienced something like that when the Soviet Union imploded in the 1990s. No one thought that the economic collapse of the former Soviet Union would last for a long time, but it did. It is bad enough when you experience an economic dislocation and the hardship that it brings. It is worst when everyone around you is experiencing the same thing. This is going to be the reality for most Europeans and Americans in the coming months. No job and/or a job with limited hours. Dwindling or limited savings. And pressure from loved ones for help. In this environment the last thing people are going to be doing is investing in the stock market.
NEW SCIENTIFIC data from China shows that the number of people infected with the coronavirus but who show no or delayed symptoms is much higher than first thought.
A MAJOR breakthrough in testing for COVID-19 has been made by a US diagnostics company, which will speed up the process of identifying those infected with the deadly virus.
DOCTORS in Italy have been told they can no longer give lifesaving respirators to anyone over the age of 60, according to a medic working on the frontline.
IRAN'S SUPREME LEADER has refused Donald Trump's offer for help with it's outbreak of Coronavirus, despite having the highest amount of cases in the Middle East
TEAM Canada has announced they will not be competing in the Olympic or Paraymic games of 2020, prompting the Japanese Prime Minister to hint the games may be postponed.
SBI Result 2020 @ www.sbi.co.in: Dear Candidates !!!The officials of theState Bank Of India has announced the Results for Various Posts. TheState Bank Of India (SBI) has conducted the Written Examination to recruit the right candidates. A huge number of candidates have completed the SBI Exam for various Posts. Here on this page, we have provided complete information about the SBI Result 2020. As we know, every aspirant is waiting for the SBI Results and anyone can check your results from this page. As well as candidates can also check the results from the official website i.e, www.sbi.co.in. So, all the Candidates can check and download the SBI Results, Cut Off Marks, and Merit List 2020 from this page.
SBI Prelims Clerk Result 2020 will be Declared Soon: Dear Aspirants !!! Are you looking for SBI Clerk Prelims Result 2020? Here, you can get all the details regarding the SBI Clerk Prelims Exam Result 2020. Therefore, the State Bank Of India has scheduled the Written Examination for Clerk (Junior Associates (Customer Support and Sales)) Post on 22nd February, 29th February, 1st and 8th March 2020. Many Candidates appeared for the examination and eagerly searching for the State Bank of India Result 2020. The SBI has announced this recruitment to fill 8000 and above Clerk Posts. Moreover, the higher authority is planning to declare the SBI Prelims Clerk Result 2020 tentatively in the month of April 2020. Here, we will provide a direct link to download the SBI Clerk Cut Off Marks and Merit List 2020.
SBI Clerk Prelims Result 2020
Description
Details
Organization Name
State Bank of India (SBI)
Post Name
Clerk (Junior Associates (Customer Support and Sales))
SBI Clerk Result 2020 Released: Dear Aspirants !!! Are you looking for SBI Clerk Mains Result 2020? It is the perfect destination to check your exam results. The State Bank of India has conducted the written examination on 10th August 2019 & 20th September 2019 for 8904 Clerk posts successfully. Many aspirants have appeared for this exam and are eagerly waiting for their results. The State Bank of India Higher Authority has released the SBI Clerk Mains Result on 20th February 2020. To help out those aspirants, we have given a quick link to download the SBI Clerk Mains Result 2020 on this page. Candidates can also get the State Bank of India Clerk Cut Off Marks and Merit List 2020 here.
SBI Clerk Mains Result 2020
Description
Details
Organization Name
State Bank of India (SBI)
Post Name
Clerk (Junior Associates (Customer Support and Sales))
State Bank Of India Clerk Mains Result 2020: Click Here
SBI Trade Apprentice Result 2020 Released @ www.sbi.co.in: The Officials of State Bank of India has announced the Trade Apprentice Result for various regions. The Board Authority of State Bank of India has released the SBI Trade Apprentice Marks on 27th January 2020. Now all those candidates are looking for the result, here anyone can find the SBI Trade Apprentice Result. We have provided a direct link to check and download the SBI Apprentice Result and Marks 2020. As well as candidates can also get their SBI Trade Apprentice Cut Off Marks and Merit List from the below link.
SBI Apprentice Marks 2020: Click Here SBI Trade Apprentice Final Result 2020: Click Here
SBI Cut Off Marks 2020
All the aspirants can have detailed information about SBI Cut off Marks 2020. The SBI Board has not yet released the exact cut off marks. The higher authority of State Bank of India will be releasing the SBI Cut off Marks 2020 according to the categories of the aspirants SC, ST, BC, OC. The candidates should know the cut off marks before appearing in the examination to score high marks. The board will soon announce the cut off marks in their official web page. After the announcement of the results, candidates can check the State Bank of India Cut Off Marks 2020 on this webpage.
Candidate's category (General, OBC, SC, ST).
The number of aspirants attended the written examination.
The number of posts available.
Previous year cut off marks.
Toughness level of the question paper.
SBI Merit List 2020 @ www.sbi.co.in
Generally, the Merit List will be released after the announcement of the results by the authority of the State Bank of India. The contenders who score maximum marks in all the sections will be listed on the merit list. Here you can check and download your merit list from this page. By using the roll number can access the SBI Merit List 2020. Aspirants with maximum score in the Main exam will be shortlisted for the next round that is Interview according to the Merit List. In the upcoming section, we have given the stepwise downloading procedure to check the State Bank of India Result 2020.
How to Download the State Bank of India Result 2020?
Visit the official website of the State Bank of India @ www.sbi.co.in.
The homepage of the SBI, Click on the Careers section.
A new page will open, scroll down the page and click on the Recruitment Results section.
Search for the link related to SBI Result 2020.
The Roll Numbers of Provisionally Selected Candidates list will display on your screen.
Check and download the State Bank of India 2020 Result.
The Treynor ratio, also known as the reward-to-volatility ratio, is a performance metric for determining how much excess return was generated for each unit of risk taken on by a portfolio.
A quick way to sell your children's used items is by selling them at a local and weekend consignment sale. Read how to make money with consignment sales.
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Fundamental analysis is a method of measuring a stock's intrinsic value. Analysts who follow this method seek out companies priced below their real worth.
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Read about how the Federal Reserve actually targets and creates new money in the economy, and find out why the savings and loans system magnifies this process.
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Bitcoin mining is the process by which new bitcoins are entered into circulation, but it is also a critical component of the maintenance and development of the blockchain ledger.
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Learn which countries rank as being one of the top 20 economies in the world. The U.S has been the global leader since 1871, but China may soon change that with its amazing growth.
A variable interest entity (VIE) refers to a legal business structure in which an investor has a controlling interest, despite not having a majority of voting rights.
Technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume.
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A mandatory convertible is a type of convertible bond that has a required conversion or redemption feature. Either on or before a contractual conversion date, the holder must convert the mandatory convertible into the underlying common stock.
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Kolkata | Mumbai: India's biggest consumer goods companies are ramping up production to meet the steep rise in demand with people rushing to stock up on essentials and groceries in bulk amid fears of a lockdown due to the coronavirus outbreak as several states imposed stringent curbs on movement.This marks a reversal of last year's fortunes when companies cut production because of weak consumption across segments. Still, companies and experts said the surge may be temporary and not make up for slowing sales in the past two months in this quarter.Fast-moving consumer goods (FMCG) companies including Hindustan Unilever, ITC, Parle, Amul and Godrej said production has been hiked to ensure there are no shortages amid panic buying. Hindustan Unilever has slashed prices of hygiene products.Sharp Slowdown in Jan, FebThe Centre as well as many states have asked companies to shut manufacturing units to curb the spread of Covid-19. Manufacturers of groceries and essential products, especially in the food, hygiene and pharmaceutical segments, are exempted but will have to stagger shifts besides adopting other safety protocols. 74766004 Godrej Consumer Products is stepping up production of soaps, hand washes and sanitisers. Managing director Vivek Gambhir said soap production is up 30% and hand washes by 3.5 times. Soap prices have been kept unchanged."It's a combination of our own plant and third-party manufacturers with spare capacities, which will come up into effect by April. The situation is pretty dynamic right now," he said.ITC has intensified efforts to ensure adequate supply of all food products and staples including atta and noodles, said Hemant Malik, divisional chief executive, foods.Consumer goods sales slowed sharply in January and February from the year earlier with expansion even decelerating for categories such as soaps, shampoo and skincare products, executives said, citing market tracker Nielsen's data."We are seeing a surge in demand for two weeks and don't want any unnecessary panic with supply shortages and prices going up. We want to ensure we don't go out of stock at any point of time," said Mayank Shah, category head at Parle Products, which has raised production 10-15% and will review this on a weekly basis depending on demand."For the past two months, the market growth halved and such bulk buying will still not compensate and bring up the growth level to the year ago number," Shah said. "Moreover, there is expected to be a lull in the following months once the crisis is over."This is despite the low base of 2019, when the market expanded at one of the slowest rates in a decade, leading to a fall in production. An analysis of 101 consumer companies revealed that most items of food products and consumer goods saw such a slump in output in the October-December quarter, according to a Care Ratings report.While supermarkets can't strictly enforce rationing of food and household staples to prevent shortages, many retailers have posted notices assuring buyers that stocks of groceries and other essential items are adequate, asking them not to hoard goods and shop only for what they need.India's largest dairy company Amul India said the company has increased production by 15-20% for its biggest-selling products such as tetrapak milk, paneer, cheese and butter."This is to ensure supplies considering there are shortages," said Amul managing director RS Sodhi. "We would review the production level once every trade partner is stocked again. However, products for hotels and restaurants have taken a beating, so we have enough capacities."Sodhi took to Twitter and other social media platforms to ask consumers not to hoard stock and said supplies were ample.
New Delhi: Finance minister Nirmala Sitharaman could announce measures to deal with the economic impact of Covid-19 in her reply to the Finance Bill on Monday.She could also propose a threshold of Rs 15 lakh for the taxation of the income of nonresidents who don't pay tax in other jurisdictions, taking the sting out of the contentious budget proposal.The government is also seeking to raise special additional excise duty on petrol to Rs 18 per litre and on diesel to Rs 12 per litre, raising revenue for relief measures. Special additional excise duty had been raised by Rs 2 each on these commodities on March 14. The sharp decline in global crude prices has created room for a reduction in prices but instead of passing on all the benefits of this to the consumer, the government may use some of the room to raise taxes to generate funds.A Rs 1 per litre rise in duty on petrol and diesel yields Rs 13,000 crore annually, based on back-of-the-envelope calculations. The actual realisation may be lower, given the decline in demand. The government has to raise the bound tariff rate on a commodity by amendments to the Finance Bill to get the flexibility to increase it by way of notifications during the year. The latest enabling provision will give the government room to raise duties further on petrol and diesel as global crude prices touch new lows."There have been several set of meetings to assess what needs to be done," said an official. "The government is working on the measures." 74766171 Sitharaman has already made a broad assessment of the impact on select sectors such as financial services, tourism, hotels, trade and micro, small and medium enterprises (MSMEs) from interactions with ministerial colleagues and companies. Industry has sought a fiscal stimulus of up to 1% of the GDP of Rs 2 lakh crore, including direct cash transfers of up to Rs 5,000 for those out of the income tax bracket. Some states have already taken the lead and announced steps to provide cash to daily wagers as also food supplies free of cost. Measures including relaxation of various tax compliances could be announced in a staggered manner. Prime Minister Narendra Modi has already formed a task force under Sitharaman to assess the economic impact of Covid-19 and formulate economic measures.OTHER CHANGESA host of other changes are likely in the taxation of online companies, including a possible widening of the equalisation levy. The Finance Bill could make it mandatory for them to pay their taxes quarterly. The rate of tax deduction at source for dividend payouts to foreign companies could be pegged at 20%.
Kolkata | Mumbai: Phone companies have sought the joint intervention of the telecom department and the home ministry to coax some 12-odd video streaming platforms/broadcasters such as Amazon, Netflix, YouTube and Hotstar to expedite steps to ease pressure on telco networks infrastructure amid a surge in video services consumption as vast swathes of India Inc work from home amid the Covid-19 outbreak.The telcos have called on the video streaming/broadcasting service providers to temporarily migrate from HD (hi-definition) to SD (standard definition) streaming, and even dispense with heavy bandwidth-consuming advertisements and pop-ups to ease network load. Such a move, they said, would enable video streaming platforms to continue providing a suitable level of service but at appropriate bit-rates, easing pressure on networks.Video streaming service providers like Netflix and MX Player said they have started taking steps aimed at using less internet capacity without compromising on quality of streaming."We've written to DoT (Department of Telecommunications) and the home ministry that it's absolutely essential for the video streaming service providers/broadcasters to cooperate with phone companies and manage their traffic distribution patterns to ensure they don't strain telco network infrastructure...," Rajan Mathews, COAI director general told ET.
PUNE: As many employees, especially in the software services sector, are forced to work from home due to the Covid-19 pandemic, the move could turn out to be an inflection point for the Indian IT industry, experts said.Nearly half of India's technology workers – estimated at 3 million – have already begun to work from home as social distancing becomes key to contain the spread of the outbreak. If employees continue to work from home for a few more months, IT companies are likely to conclude that 20-30% of their workforce can operate remotely, said Sridhar Mitta, founder of NextWealth Entrepreneurs, a firm that has more than 2,000 people offering services remotely."The first wave was when companies started outsourcing work to India because of the huge cost differential, followed by Y2K when they needed more people to solve a problem within a short period," said Mitta, a former CTO of Wipro and among its earliest employees. "Over the next few months, IT companies will gain experience and realise what processes can and cannot be done remotely. Clients too, will gain comfort," he said. Over time, even if 20% of the work can be done from home, it would mean over one million people not needing to commute to an office daily, with the option of working from any city they choose to, Mitta said.Indian technology and back office firms have already moved a significant amount of work to homes of staff as a short-term measure to tide over the crisis.Tata Consultancy Services has asked more than 40% of its employees to work from home, its CEO Rajesh Gopinathan said in an email to staff on Friday. Accenture has moved over 60% of its employees to work from home in India and the Philippines.Pramod Bhasin, chairman of Clix Capital said, the concept could have a profound impact on the kind of people who become part of the workforce. It would be easier for parents, especially women, to get back to work if they can work remotely, and for others for whom fixed timings are an issue. "This will help break many myths about what can or can't be done from home," he said.Just as there were questions over what could be done out of India when the outsourcing industry took off initially, Bhasin expects work from home to break stereotypes.
Mumbai: Indian banking services, apart from basic payment and transfer operations, are likely to come to a halt as lenders impose restrictions on the movement of employees and their interaction with customers to protect them from Covid-19. Although banking is an essential service — key staff will be allowed to attend work during state-imposed curbs — new loans, project appraisals, negotiations for fresh terms for existing loans will have to wait."We request all our customers to bear with us as other non-essential services during this period may be suspended," the Indian Banks' Association (IBA) said in a note. "We will continue providing banking services to our valued customers. However, we appeal to everyone to visit branch premises only in case of absolute necessity. Our employees are also facing the same challenges that you are and so we are asking for your help too." The Reserve Bank of India (RBI) and lenders have activated business continuity plans that were put in place to cope with such emergency situations. While staff have been asked to work from home, essential bank workers are being split into various groups after identifying key areas."Working spaces are split and people are also working from home," said Romesh Sobti, outgoing CEO of IndusInd Bank. "Our business continuity plans have been triggered — we are working out of three spaces and also working out of home. All linkages have been developed in the last week or so. Departments and functions have been split already.''The RBI has directed all lenders to make banking facilities available on their respective mobile applications to prevent any disruption in service. "Public can use these modes of digital payment from the convenience of their homes through online channels and avoid using cash, which may require going to crowded places for sending money or paying bills," the central bank said in a statement last week.The regulator itself has made changes to its functioning.Under the new minimum staffing norms — both for the RBI and service providers — two batches have been formed, with the second one kept on standby to take over when required. A backup replacement pool has also been drawn up. A team of 37 RBI officials was formed comprising key personnel from important functions such as debt management, reserve management, monetary operations etc.The central bank is said to have rented a hotel near its primary data centre in downtown Mumbai to accommodate about 150 people. It also isolated about 69 hotel staff to serve the employees, all of whom will remain in isolation. They can leave in case of an emergency.Lenders such as HDFC Bank, Kotak Mahindra Bank, Axis Bank, Bank of Baroda and State Bank of India said they have been sending advisories to customers to use mobile banking facilities as much as possible.Banks called upon senior managers to ensure uninterrupted services across the country."We have an appropriate BCP (business continuity plan) in place in case of any eventuality. We will ask our employees engaged in administrative jobs to work from home if the situation warrants," said Bandhan Bank managing director Chandra Shekhar Ghosh.Meanwhile, the National Payments Corporation of India (NCPI) has embarked on a social media campaign to push for digital payments as a safer option than cash transactions. Banks sent advisories to customers to move to digital channels for their banking needs.Until Saturday, branch employees were under pressure with an increase in the number of customers amid fears of increasing curbs."March sees a sharp rise in footfall at branches as there is a rush for investments to manage tax liabilities besides tax payments to meet the year-end deadline," said an executive at a south Mumbai SBI branch. "Many account holders still prefer doing their investments manually. There is talk that banks may seek extension of the March 31 deadline (for tax-related investments)."
Bengaluru: Ecommerce operators were forced to cancel or reschedule lakhs of orders for essential goods such as food, groceries and medicines across several cities on Sunday as local authorities and the police ordered them to shut warehouses, blocked trucks carrying supplies and dissuaded delivery agents from moving around on the streets.The action against grocery e-tailers such as Grofers, BigBasket and e-pharmacy player 1mg and their on-ground staff, apart from larger firms Flipkart and Amazon, comes despite ecommerce being exempt from Section 144-type restrictions that have been imposed by several states in the country. "There was some confusion on the ground as the message from central government was not clear to local authorities as to what needed to be allowed. Better communication (is needed) to let services like Grofers, BigBasket or 1mg be allowed to operate will help make sure the flow of essential items to a self-quarantined India doesn't stop," Albinder Dhindsa, CEO, Grofers told ET.The egrocer cancelled or rescheduled as many as 170,000 orders on Sunday. Dhindsa said his field staff reported trucks bringing supplies to its warehouses being stopped in Uttar Pradesh, Maharashtra, Karnataka and Telangana. 74766208 'Ensuring Minimal Disruption'Apart from this, the company also said authorities in Maharashtra and Haryana had forced its warehouses to shut down in view of the Janata Curfew on Sunday.BigBasket, the country's largest online grocery, also complained of facing similar issues, which has been leading to delayed deliveries and an inability to accept any new orders in several locations across the country. "We felt very let down by how the local authorities in almost all cities executed stopping deliveries and even beating up people," a BigBasket spokesperson told ET.A senior government official confirmed to ET that he had received several complaints from ecommerce firms and industry bodies with regard to trouble they were facing from local authorities who were forcing them to shut down their operations. "We are coordinating and communicating all instances of trouble these companies are facing with secretaries at the state level to take action and ensure there is minimal disruption," the official added.The action against ecommerce players on Sunday comes on the back of a few warehouses being shuttered by local authorities since the last one week, another person aware of the matter told ET. This despite the ministry of consumer affairs on Friday notifying that ecommerce firms, their warehouses and logistics facilities, wholesalers, vendors and delivery partners be exempt from any type of prohibitory orders. The move was aimed at ensuring supply of essentials to consumer doorsteps did not stop or face any hurdles.Even medicine deliveries and other at-home medical services were disrupted across several cities. 1mg, an e-pharmacy and online diagnostics provider, said some of its Pre Analytical Centres, that run diagnostics on samples picked up at home were asked to shut in Delhi, Patna and Mumbai. The company added that delivery agents were stopped by the police in south Delhi, Hyderabad, Lucknow, Faridabad and Gurgaon."It seems that there is a need for clear guidance and notification for the police teams on ground, telling them that essential services should not face any issues during this phase. As of now, it seems there is lack of clarity and they are stopping all activity, including essential services," said Prashant Tandon, CEO of 1mg.Grocery deliverers are seeing as much as a five-fold increase in order volumes as many large format stores remain shut and people stayed indoors. The average order value for e-grocers has increased by 20-25%, executives at these companies said. On Thursday, both Grofers and BigBasket faced brief outages amid panic buying, as reported by ET last week. The demand is expected to get further amplified as many states declare Section 144 to stop the spread of Covid-19.
Only a handful of stocks are left standing in Mumbai after relentless waves of price destruction battered Indian equities through the past few weeks.The worst hit among the Nifty companies are banking & finance, commodity and discretionary stocks, as these companies remain more vulnerable due to falling demand and increasing debt.Seven out of the 10 biggest losing stocks on the Nifty are from these sectors, with IndusInd Bank losing the highest (61 per cent) given its high exposure to vulnerable sectors including real estate, gems and jewellery and telecom.Tata Motors (down 51 per cent) is the next biggest loser, as the company's JLR business is unexpectedly down globally — retail sales in February in China, its biggest market, were down 85 per cent and the demand is expected to remain weak for some time. It heavy debt of nearly Rs 50,000 crore is a concern too.UPL's leveraged balance sheet and a sharp drop in earnings are a major concern. UPL's debt to EBIDTA is more than 3 times and the Street expects a further drop in earnings. Vedanta and Hindalco were hit due to sharp falls in commodity prices including crude, aluminum, zinc, silver and copper. Both the stocks are down 48 per cent and 44 per cent, respectively. 74766404 The Nifty is down 28 per cent in the past one month. But FMCG and pharma stocks are expected to be the least affected and offer higher earnings stability in the Nifty 50 pack. None of the 8 pharma and consumer stocks have lost more than 20 per cent. Asian Paints remains the best performing stock losing only 7 per cent as the company will benefit sharply from the fall in crude prices (used as raw material).Yes Bank is the only stock to have given positive returns — up 30 per cent in one month.
NEW DELHI: It was another week of bloodshed in the domestic stock market, as the benchmark indices logged their biggest weekly fall since the 2008 Global Financial Crisis. By the end of the week, most of the stocks were trading at levels seen many years ago.With the coronavirus scourge now rearing its ugly head in India, what could be in store in the weeks and months ahead? Amid so much uncertainty, with stocks at multi-year lows, market veterans see an opportunity for investors. They shared tips on how to best navigate this crisis.Here's a look at what some of the leading voices of Dalal Street tweeted during the week gone by:State of the marketGiven the acceleration and quantum of market fall, equity portfolio manager Ravi Dharamshi tweeted that 2020 is a fast-track course than the 2008 GFC. 2020 is a fast track course on 2008 #MarketSlump #markets— Ravi Dharamshi (@ravidharamshi77) 1584551255000 Independent market expert Sandip Sabharwal shared an interesting fact: the total world market capital lost so far is now 10-times India's GDP.World Market Capitalization has collapsed from $ 90 Trillion at the end of 2019 to $ 55 Trillion now To measure th… https://t.co/h7qUd6K0EN— sandip sabharwal (@sandipsabharwal) 1584762870000 Morgan Housel, Partner at The Collaborative Fund, shared two insights about stock market crashes; a) they tend to go too far but b) they recover before the real economy.The two most important parts of market crashes: - In hindsight they always go too far. - They always rebound wel… https://t.co/pGoLwqbFub— Morgan Housel (@morganhousel) 1584362245000 Given the massive fall in the indices, Housel says a 5% move in the market either way is now called "unchanged".If the market closes up or down less than 5% it's now called "unchanged."— Morgan Housel (@morganhousel) 1584635540000 Market veteran Shankar Sharma expect NBFCs to get hurt badly in this selloff. His next question: Are we staring at IL&FS - 2, 3 & 4?Looking at the price action of several NBFCs last few days, it's abundantly clear that the market is saying many wo… https://t.co/GzJTCUvduo— Shankar Sharma (@1shankarsharma) 1584676000000 Call for actionLack of concrete government action on the economic front has left a few investors frustrated.Sabharwal, quoting examples of other developed economies and their responses to fight the virus, said lack of government action is creating a lot of hardships.UK Chancellor of Exchequer @RishiSunak has announce a huge No of steps already to alleviate economic stress. #BOE h… https://t.co/cQJX6NNjW0— sandip sabharwal (@sandipsabharwal) 1584786278000 Sabharwal advises the government to raise the fiscal deficit target by 1%.Sir, @narendramodi it is time to think big on the Economy Just minor tinkering of MSME dues, NPA recognition defer… https://t.co/kDkIaaMFKz— sandip sabharwal (@sandipsabharwal) 1584706686000 Meanwhile, Kotak AMC's Managing Director Nilesh Shah had a few other suggestions to improve investor confidence amid the meltdown in the stock market. Support Investor Confidence in crisis time by - Restore tax exemption on LTCG. Any way there will be no collectio… https://t.co/KtSSJLjB53— Nilesh Shah (@NileshShah68) 1584622213000 What should investors do?iThought co-founder Shyam Sekhar is of the view that a bad market is the best time to begin better investment habits.A bad market is the best time to begin better investment habits.— Shyam Sekhar (@shyamsek) 1584458946000 Sabharwal says good quality stocks have corrected 40-50% from highs and for the brave-hearted and those thinking long term, this is an investment opportunity that they must not miss. He believes this is the best time for value investors.A high quality, low or no debt company's stock falls 40-50% from the top due to the entire #Covid19 issue For thos… https://t.co/bpoQnZPy82— sandip sabharwal (@sandipsabharwal) 1584611882000 #CBOE #VIX collapse is the first indication that markets are close to bottoming The next couple of weeks will still… https://t.co/fXdkQBBeKZ— sandip sabharwal (@sandipsabharwal) 1584716242000 Dharamshi echoed Sabharwal's views and said "only patient, long-term capital will trump '' from market mayhem.There is paucity of people who can think beyond next 1-2 months, beyond the current panic, beyond corona virus. Mar… https://t.co/YvSQtbCPyB— Ravi Dharamshi (@ravidharamshi77) 1584419936000
Mumbai | Pune: Web and mobile applications that track the spread of the Covid-19 virus outbreak are also loading ransomware trojans and trackers to snoop on users, according to cyber security firms. For instance, some map-based applications that trace the path of the virus across the globe could end up infecting a user's phone with a virus, the digital kind that is. Spam documents that offer information about the virus through emails and message attachments are also increasing, the firms said.Information security provider ZScaler said that hackers were now floating applications on the internet that claim to notify a user as soon as anyone infected with the virus is nearby. What such apps do instead is lock out the user and ask for ransoms to unlock their device."There are also apps that tell you where you can go and buy an N-95 mask. These are all hoaxes – the moment a user downloads such an app it will corrupt your smartphone or laptop and may ask for a ransom to unlock it," said Sudip Banerjee, director, Transformation Strategy – Asia Pacific and Japan at Zscaler.IT security company Lookout also found a 'Corona live 1.1' Android application which is a Trojanised version of the legitimate "corona live" app that allows users to get updated with data found on Johns Hopkins University's coronavirus tracker."Upon first launch, the app informs the user it does not require special access, but subsequently proceeds to request access to photos, media, files, device location," said Security Research Engineer Kristin Del Rosso of Lookout.
MUMBAI: The overall hiring sentiment in the country is likely to witness an adverse impact in the short term with 60-65 per cent interviews getting delayed, especially in the services sector, following the slowdown across industries triggered by the coronavirus pandemic, industry experts said."Since the outbreak of COVID-19, companies have been cancelling interviews. We expect 60-65 per cent interviews getting dropped or delayed as there is lockdown in many parts of the country and people are encouraged to stay at home to curtail the spread of the virus," TeamLease Services Business Head â€"BFSI and government vertical, Amit Vadera told PTI.This will also lead to delay in joining dates if the current situation continues, he said.Sectors including banking, financial services and insurance (BFSI), retail, logistics (delivery) where a lot of frontline-hiring takes place are likely to witness this delay, he pointed out.More and more companies will now depend on technology as an alternate channel to continue with the same pace of productivity, he opined."It will be a big learning for many organisations, who will see this as a medium to improve their productivity," he added.He said that in the short term, this will also impact the overall hiring scenario as many sectors will witness slowdown following the spread of COVID-19, however, it is too early to quantify it.Echoing a similar view, staffing firm CIEL HR Services chief executive officer Aditya Narayan Mishra said that COVID-19 has emerged as a global challenge and "this is going to push many critical projects to slow track and impact revenues and profitability. As a result, companies will delay their hiring plans".The results are hard to predict but are certainly disquieting and it will result in a slowdown in hiring, which is likely to be 10-15 per cent in the next quarter across all sectors especially the services industry, he said."We are already witnessing cancellation of personal interviews and putting backfill numbers in abeyance. These are early signs that companies are worried about the revenues and meeting their forecasts. We see a slowdown as a result of this crisis," he noted.Job search platform Shine.com CEO Zairus Master, however, said there will be some sectors that are likely to witness an uptick in hiring due to COVID-19.Healthcare, of course, will lead but as people are staying indoors, e-commerce and online delivery portals should also see a gradual increase in demand. This is also an opportune time for people to upskill themselves as they have more time and fewer entertainment options, he said.He further noted that, though tourism sector will be affected in the short run but "we have seen in the past also, aviation and tourism has bounced back quickly and hiring resumed, he added.Michael Page India Managing Director Nicolas Dumoulin said there will be a slowdown in hiring in retail, hospitality, travel among others.The impact on hiring will be minimal, but if this situation continues due to the spread of the virus it might be large.However, Dumoulin said that technology-driven sectors are hiring and are conducting interviews through alternative channels like online, Skype.'In fact, this has made interviews faster and convenient. Hiring of mid-level and freshers are going on. The joining of executives hired through campus recruitment may get delayed," he added.
Covid-19 impact: FMCG cos moving fast to restock stores Kolkata | Mumbai: India's biggest consumer goods companies are ramping up production to meet the steep rise in demand with people rushing to stock up on essentials and groceries in bulk amid fears of a lockdown due to the coronavirus outbreak as several states imposed stringent curbs on movement.This marks a reversal of last year's fortunes when companies cut production because of weak consumption across segments. Still, companies and experts said the surge may be temporary and not make up for slowing sales in the past two months in this quarter.Fast-moving consumer goods (FMCG) companies including Hindustan Unilever, ITC, Parle, Amul and Godrej said production has been hiked to ensure there are no shortages amid panic buying. Hindustan Unilever has slashed prices of hygiene products.Sharp Slowdown in Jan, FebThe Centre as well as many states have asked companies to shut manufacturing units to curb the spread of Covid-19. Manufacturers of groceries and essential products, especially in the food, hygiene and pharmaceutical segments, are exempted but will have to stagger shifts besides adopting other safety protocols.74766004 Godrej Consumer Products is stepping up production of soaps, hand washes and sanitisers. Managing director Vivek Gambhir said soap production is up 30% and hand washes by 3.5 times. Soap prices have been kept unchanged."It's a combination of our own plant and third-party manufacturers with spare capacities, which will come up into effect by April. The situation is pretty dynamic right now," he said.ITC has intensified efforts to ensure adequate supply of all food products and staples including atta and noodles, said Hemant Malik, divisional chief executive, foods.Consumer goods sales slowed sharply in January and February from the year earlier with expansion even decelerating for categories such as soaps, shampoo and skincare products, executives said, citing market tracker Nielsen's data."We are seeing a surge in demand for two weeks and don't want any unnecessary panic with supply shortages and prices going up. We want to ensure we don't go out of stock at any point of time," said Mayank Shah, category head at Parle Products, which has raised production 10-15% and will review this on a weekly basis depending on demand."For the past two months, the market growth halved and such bulk buying will still not compensate and bring up the growth level to the year ago number," Shah said. "Moreover, there is expected to be a lull in the following months once the crisis is over."This is despite the low base of 2019, when the market expanded at one of the slowest rates in a decade, leading to a fall in production. An analysis of 101 consumer companies revealed that most items of food products and consumer goods saw such a slump in output in the October-December quarter, according to a Care Ratings report.While supermarkets can't strictly enforce rationing of food and household staples to prevent shortages, many retailers have posted notices assuring buyers that stocks of groceries and other essential items are adequate, asking them not to hoard goods and shop only for what they need.India's largest dairy company Amul India said the company has increased production by 15-20% for its biggest-selling products such as tetrapak milk, paneer, cheese and butter."This is to ensure supplies considering there are shortages," said Amul managing director RS Sodhi. "We would review the production level once every trade partner is stocked again. However, products for hotels and restaurants have taken a beating, so we have enough capacities."Sodhi took to Twitter and other social media platforms to ask consumers not to hoard stock and said supplies were ample. Source: ET
Coronavirus impact: FMCG firms moving fast to restock stores Kolkata | Mumbai: India's biggest consumer goods companies are ramping up production to meet the steep rise in demand with people rushing to stock up on essentials and groceries in bulk amid fears of a lockdown due to the coronavirus outbreak as several states imposed stringent curbs on movement.This marks a reversal of last year's fortunes when companies cut production because of weak consumption across segments. Still, companies and experts said the surge may be temporary and not make up for slowing sales in the past two months in this quarter.Fast-moving consumer goods (FMCG) companies including Hindustan Unilever, ITC, Parle, Amul and Godrej said production has been hiked to ensure there are no shortages amid panic buying. Hindustan Unilever has slashed prices of hygiene products.Sharp Slowdown in Jan, FebThe Centre as well as many states have asked companies to shut manufacturing units to curb the spread of Covid-19. Manufacturers of groceries and essential products, especially in the food, hygiene and pharmaceutical segments, are exempted but will have to stagger shifts besides adopting other safety protocols.74766004 Godrej Consumer Products is stepping up production of soaps, hand washes and sanitisers. Managing director Vivek Gambhir said soap production is up 30% and hand washes by 3.5 times. Soap prices have been kept unchanged."It's a combination of our own plant and third-party manufacturers with spare capacities, which will come up into effect by April. The situation is pretty dynamic right now," he said.ITC has intensified efforts to ensure adequate supply of all food products and staples including atta and noodles, said Hemant Malik, divisional chief executive, foods.Consumer goods sales slowed sharply in January and February from the year earlier with expansion even decelerating for categories such as soaps, shampoo and skincare products, executives said, citing market tracker Nielsen's data."We are seeing a surge in demand for two weeks and don't want any unnecessary panic with supply shortages and prices going up. We want to ensure we don't go out of stock at any point of time," said Mayank Shah, category head at Parle Products, which has raised production 10-15% and will review this on a weekly basis depending on demand."For the past two months, the market growth halved and such bulk buying will still not compensate and bring up the growth level to the year ago number," Shah said. "Moreover, there is expected to be a lull in the following months once the crisis is over."This is despite the low base of 2019, when the market expanded at one of the slowest rates in a decade, leading to a fall in production. An analysis of 101 consumer companies revealed that most items of food products and consumer goods saw such a slump in output in the October-December quarter, according to a Care Ratings report.While supermarkets can't strictly enforce rationing of food and household staples to prevent shortages, many retailers have posted notices assuring buyers that stocks of groceries and other essential items are adequate, asking them not to hoard goods and shop only for what they need.India's largest dairy company Amul India said the company has increased production by 15-20% for its biggest-selling products such as tetrapak milk, paneer, cheese and butter."This is to ensure supplies considering there are shortages," said Amul managing director RS Sodhi. "We would review the production level once every trade partner is stocked again. However, products for hotels and restaurants have taken a beating, so we have enough capacities."Sodhi took to Twitter and other social media platforms to ask consumers not to hoard stock and said supplies were ample. Source: ET
Coronavirus crisis may fast-forward IT's work-from-home adoption PUNE: As many employees, especially in the software services sector, are forced to work from home due to the Covid-19 pandemic, the move could turn out to be an inflection point for the Indian IT industry, experts said.Nearly half of India's technology workers – estimated at 3 million – have already begun to work from home as social distancing becomes key to contain the spread of the outbreak. If employees continue to work from home for a few more months, IT companies are likely to conclude that 20-30% of their workforce can operate remotely, said Sridhar Mitta, founder of NextWealth Entrepreneurs, a firm that has more than 2,000 people offering services remotely."The first wave was when companies started outsourcing work to India because of the huge cost differential, followed by Y2K when they needed more people to solve a problem within a short period," said Mitta, a former CTO of Wipro and among its earliest employees. "Over the next few months, IT companies will gain experience and realise what processes can and cannot be done remotely. Clients too, will gain comfort," he said. Over time, even if 20% of the work can be done from home, it would mean over one million people not needing to commute to an office daily, with the option of working from any city they choose to, Mitta said.Indian technology and back office firms have already moved a significant amount of work to homes of staff as a short-term measure to tide over the crisis.Tata Consultancy Services has asked more than 40% of its employees to work from home, its CEO Rajesh Gopinathan said in an email to staff on Friday. Accenture has moved over 60% of its employees to work from home in India and the Philippines.Pramod Bhasin, chairman of Clix Capital said, the concept could have a profound impact on the kind of people who become part of the workforce. It would be easier for parents, especially women, to get back to work if they can work remotely, and for others for whom fixed timings are an issue. "This will help break many myths about what can or can't be done from home," he said.Just as there were questions over what could be done out of India when the outsourcing industry took off initially, Bhasin expects work from home to break stereotypes. Source: ET
We believe this could be the decade of India, says Dell Technologies' Amit Midha Midha believes India has the right demographics and capabilities to realise this digital future and achieve the $5-trillion target.
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