National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

The Indian stock market rose on Wednesday as banking and consumer goods shares followed a rise in US markets overnight. This happened despite India entering into an extended lockdown to contain the coronavirus.

The NSE Nifty 50 index rose 2.66% to 9,233.35 by 0502 GMT, while the benchmark S&amp;P BSE Sensex was up 2.68% at 31,513.43, as trading resumed after a holiday on Tuesday. 
"Domestic markets are now reacting to movement in the US and Asian markets over the last two days. We are catching up with global markets, which were up on some optimism that the COVID-19 situation is coming under control," said Deepak Jasani, head of research at HDFC Securities in Mumbai.

Sentiment was also supported after the government said on Wednesday it will allow opening up of some industries in rural areas after April 20 to reduce the distress caused to millions of people because of the lockdown.

The International Monetary Fund said on Tuesday it expected the global economy to shrink by 3.0% during 2020 in a coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s.

India extended a lockdown on its 1.3 billion people until at least May 3 on Tuesday as total COVID-19 cases exceeded 10,000.

Meanwhile, corporate India is heading into the March-quarter earnings season, with IT firm Wipro Ltd set to release its results later in the day. Wipro shares were up&nbsp;

Oil-to-retail conglomerate Reliance Industries Ltd was the biggest boost to the indexes, climbing as much as 3.9% to its highest in more than five weeks.

Private-sector lender ICICI Bank Ltd jumped 5.3% and while consumer goods giant Hindustan Unilever Ltd rose 4.8%.

UPL Ltd, a producer of crop protection chemicals, surged 13.4% to a near one-month top after it said on Tuesday all its factories around the world were in operation, and that it does not see "significant" challenges in meeting customer demand. The stock was the top percentage gainer on the Nifty 50 index.

Aluminium producer Hindalco Industries Ltd jumped as much as 9% after its arm completed the $2.8 billion acquisition of U.S.-based rolled products major Aleris.

(with inputs from Reuters)

The Indian stock market rose on Wednesday as banking and consumer goods shares followed a rise in US markets overnight. This happened despite India entering into an extended lockdown to contain the coronavirus.

The Indian stock market rose on Wednesday as banking and consumer goods shares followed a rise in US markets overnight. This happened despite India entering into an extended lockdown to contain the coronavirus. The NSE Nifty 50 index rose 2.66% to 9,233.35 by 0502 GMT, while the benchmark S&P BSE Sensex was up 2.68% at 31,513.43, as trading resumed after a holiday on Tuesday. "Domestic markets are now reacting to movement in the US and Asian markets over the last two days. We are catching up with global markets, which were up on some optimism that the COVID-19 situation is coming under control," said Deepak Jasani, head of research at HDFC Securities in Mumbai. Sentiment was also supported after the government said on Wednesday it will allow opening up of some industries in rural areas after April 20 to reduce the distress caused to millions of people because of the lockdown. The International Monetary Fund said on Tuesday it expected the global economy to shrink by 3.0% during 2020 in a coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s. India extended a lockdown on its 1.3 billion people until at least May 3 on Tuesday as total COVID-19 cases exceeded 10,000. Meanwhile, corporate India is heading into the March-quarter earnings season, with IT firm Wipro Ltd set to release its results later in the day. Wipro shares were up Oil-to-retail conglomerate Reliance Industries Ltd was the biggest boost to the indexes, climbing as much as 3.9% to its highest in more than five weeks. Private-sector lender ICICI Bank Ltd jumped 5.3% and while consumer goods giant Hindustan Unilever Ltd rose 4.8%. UPL Ltd, a producer of crop protection chemicals, surged 13.4% to a near one-month top after it said on Tuesday all its factories around the world were in operation, and that it does not see "significant" challenges in meeting customer demand. The stock was the top percentage gainer on the Nifty 50 index. Aluminium producer Hindalco Industries Ltd jumped as much as 9% after its arm completed the $2.8 billion acquisition of U.S.-based rolled products major Aleris. (with inputs from Reuters)

Nifty, Sensex get a boost despite extension of coronavirus lockdown

The coronavirus pandemic is pushing the global economy into its deepest recession in a century, cutting world output by three per cent this year, and the crisis could get worse, the International Monetary Fund said Tuesday. 
 
Also read:&nbsp;<a href="https://www.wionews.com/world/new-york-governor-says-hospitalization-covid-19-infections-down-while-taking-a-dig-at-king-trump-292515" hreflang="en">New York governor says COVID-19 infections down; takes a dig at 'King Trump'</a>

The downturn will slash $9 trillion from the world economy, IMF chief economist Gita Gopinath told reporters as she presented the latest forecasts in the World Economic Outlook.

If the virus is contained and economies can begin operating again, 2021 should see a rebound of 5.8 per cent, according to the IMF. 
 
Also read:&nbsp;<a href="https://www.wionews.com/world/experts-say-trump-has-little-power-to-restart-us-economy-292451" hreflang="en">Experts say Trump has little power to restart US&nbsp;economy</a>

But the authors acknowledged the difficulty in making an accurate forecast amid the rapidly changing situation.

With much of the global economy shut down amid efforts to contain the virus and keep health systems from collapsing, the IMF warned that there are "severe risks of a worse outcome" due to the "extreme uncertainty around the strength of the recovery."

"The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around $9 trillion, greater than the economies of Japan and Germany combined," Gopinath said.

The coronavirus has infected nearly two million people worldwide and killed close to 120,000, bringing travel to a standstill and forcing businesses, shops and restaurants to close.

"Much worse growth outcomes are possible and maybe even likely," the report cautioned, "if the pandemic and containment measures last longer... or if widespread scarring effects emerge due to firm closures and extended unemployment."

'The Great Lockdown'

The report, released ahead of the virtual spring meetings of the IMF and World Bank, said "The Great Lockdown" -- as the IMF dubbed the global downturn -- is the worst since the Great Depression of the 1930s.

It also is the first contraction since 2009 during the global financial crisis, but that episode hardly bears comparison. Though the effects lingered, the decline amounted to just 0.1 per cent, and large emerging market economies were still growing at a solid pace.

This year, the only economies expected to be spared from the recession are China -- where the virus originated -- and India, but even those countries will see only relatively paltry growth of 1.2 per cent and 1.9 per cent, respectively.

In the depression nearly a century ago, the global economy contracted by about 10 per cent while advanced economies shrunk by 16 per cent from 1929 to 1932. The IMF now expects advanced economies to shrink by six per cent in 2020.

The US economy is expected to contract by 5.9 per cent but see growth recover by 4.7 per cent next year.

However, the forecasts assume the pandemic will fade in the second half of the year.

The IMF projects drop of 7.2 per cent in France and 6.5 per cent in Britain, but the governments in those countries are even more pessimistic, projecting contractions of eight per cent and 13 per cent, respectively.

Must work together

The severe slowdown is "unavoidable," but "substantial targeted fiscal, monetary and financial" measures can soften the blow, the IMF said.

Many governments have already deployed massive spending measures in tandem with central banks that have been pumping liquidity into the financial system to prevent any breakdown.

But Gopinath said, even more, will be needed once the health crisis is over.

"Once the recovery happens, and we are past the pandemic phase for advanced economies, it would be essential to undertake a broad-based fiscal stimulus," she said.

The spending "would be even more effective if it were coordinated across all the advanced economies of the world," she said.

Synchronized actions "can magnify their impact" but also can avoid some of the errors of the past century when countries adopted "futile mercantilist policies... which further worsened the global downturn," the report said.

Inevitably the massive spending will lead to sharp increases in government debt -- already at over 80 per cent of GDP -- and deficit levels.

But Gopinath said if the recovery begins in 2021, and with interest rates very low, "the combination should help in bringing down debt levels slowly over time."

Some countries, however, will need relief from debt obligations.

Finance ministers and central bank governors from the Group of Seven advanced economies on Tuesday endorsed a plan to provide a temporary standstill in debt payments from the world's poorest nations if the broader Group of 20 agrees.

The G20, which includes major emerging market economies like China and Russia, is expected to make a statement on Wednesday that could cover debt relief.

The coronavirus pandemic is pushing the global economy into its deepest recession in a century, cutting world output by three per cent this year, and the crisis could get worse, the International Monetary Fund said Tuesday.

The coronavirus pandemic is pushing the global economy into its deepest recession in a century, cutting world output by three per cent this year, and the crisis could get worse, the International Monetary Fund said Tuesday. Also read: New York governor says COVID-19 infections down; takes a dig at 'King Trump' The downturn will slash $9 trillion from the world economy, IMF chief economist Gita Gopinath told reporters as she presented the latest forecasts in the World Economic Outlook. If the virus is contained and economies can begin operating again, 2021 should see a rebound of 5.8 per cent, according to the IMF. Also read: Experts say Trump has little power to restart US economy But the authors acknowledged the difficulty in making an accurate forecast amid the rapidly changing situation. With much of the global economy shut down amid efforts to contain the virus and keep health systems from collapsing, the IMF warned that there are "severe risks of a worse outcome" due to the "extreme uncertainty around the strength of the recovery." "The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around $9 trillion, greater than the economies of Japan and Germany combined," Gopinath said. The coronavirus has infected nearly two million people worldwide and killed close to 120,000, bringing travel to a standstill and forcing businesses, shops and restaurants to close. "Much worse growth outcomes are possible and maybe even likely," the report cautioned, "if the pandemic and containment measures last longer... or if widespread scarring effects emerge due to firm closures and extended unemployment." 'The Great Lockdown' The report, released ahead of the virtual spring meetings of the IMF and World Bank, said "The Great Lockdown" -- as the IMF dubbed the global downturn -- is the worst since the Great Depression of the 1930s. It also is the first contraction since 2009 during the global financial crisis, but that episode hardly bears comparison. Though the effects lingered, the decline amounted to just 0.1 per cent, and large emerging market economies were still growing at a solid pace. This year, the only economies expected to be spared from the recession are China -- where the virus originated -- and India, but even those countries will see only relatively paltry growth of 1.2 per cent and 1.9 per cent, respectively. In the depression nearly a century ago, the global economy contracted by about 10 per cent while advanced economies shrunk by 16 per cent from 1929 to 1932. The IMF now expects advanced economies to shrink by six per cent in 2020. The US economy is expected to contract by 5.9 per cent but see growth recover by 4.7 per cent next year. However, the forecasts assume the pandemic will fade in the second half of the year. The IMF projects drop of 7.2 per cent in France and 6.5 per cent in Britain, but the governments in those countries are even more pessimistic, projecting contractions of eight per cent and 13 per cent, respectively. Must work together The severe slowdown is "unavoidable," but "substantial targeted fiscal, monetary and financial" measures can soften the blow, the IMF said. Many governments have already deployed massive spending measures in tandem with central banks that have been pumping liquidity into the financial system to prevent any breakdown. But Gopinath said, even more, will be needed once the health crisis is over. "Once the recovery happens, and we are past the pandemic phase for advanced economies, it would be essential to undertake a broad-based fiscal stimulus," she said. The spending "would be even more effective if it were coordinated across all the advanced economies of the world," she said. Synchronized actions "can magnify their impact" but also can avoid some of the errors of the past century when countries adopted "futile mercantilist policies... which further worsened the global downturn," the report said. Inevitably the massive spending will lead to sharp increases in government debt -- already at over 80 per cent of GDP -- and deficit levels. But Gopinath said if the recovery begins in 2021, and with interest rates very low, "the combination should help in bringing down debt levels slowly over time." Some countries, however, will need relief from debt obligations. Finance ministers and central bank governors from the Group of Seven advanced economies on Tuesday endorsed a plan to provide a temporary standstill in debt payments from the world's poorest nations if the broader Group of 20 agrees. The G20, which includes major emerging market economies like China and Russia, is expected to make a statement on Wednesday that could cover debt relief.

Pandemic causing deep recession, and it could get worse: IMF

Global stocks fell on Wednesday as oil prices dropped and warnings of the worst global recession since the 1930s underscored the economic damage done by the coronavirus pandemic.

Global stocks fell on Wednesday as oil prices dropped and warnings of the worst global recession since the 1930s underscored the economic damage done by the coronavirus pandemic. European stock markets faltered, with the pan-European STOXX 600 index down 1.9% after five days of gains fuelled by suggestions the health crisis was ebbing and lockdown measures may soon start to ease. Much of the damage was felt by oil companies. Total SA, Royal Dutch Shell Plc and BP Plc all sank, pushing the European energy index to its lowest this month as oil prices fell. Benchmark Brent crude futures traded down 4% to $28.46 after the International Energy Agency on Wednesday forecast a drop in oil demand of 29 million barrels per day in April, to levels not seen in 25 years. It warned no output cut by producers could offset the decline. Much economic damage has also already been done, with the International Monetary Fund predicting the world this year would suffer its steepest downturn since the Great Depression of the 1930s. China earlier moved again to cushion its economy, cutting a key medium-term interest rate to record lows, paving the way for a similar reduction in benchmark loan rates, while reducing the amount banks must hold as reserves.

Global shares fall, weighed down by cheap oil and economic warnings

The International Monetary Fund(IMF) said on Tuesday that the <a href="https://www.wionews.com/world/now-china-approves-trials-for-two-more-coronavirus-vaccines-292466">coronavirus</a> pandemic recovery would take a more coordinated stimulus.

"The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around $9 trillion, greater than the economies of Japan and Germany combined," it said.

"Global growth is projected at –3.0 per cent in 2020, an outcome far worse than during the 2009 global financial crisis," IMF said.

"Several economies in the region are forecast to grow at modest rates, including India which is set to grow at 1.9 per cent," the report said.

The IMF projected India's growth to 7.4 per cent in 2021. It said India will grow at 1.9 per cent this year as the global economy stares at a recession but said it is only one of the two major economies to record positive growth, other being China which is set to grow at 1.2 per cent this year.

<a href="https://www.wionews.com/business-economy/gold-hits-seven-year-high-on-rising-economic-worries-fed-stimulus-292463">Also Read:&nbsp;Gold hits seven year high on rising economic worries, Fed stimulus</a>

In another observation, the international fund had earlier said that Sub-Saharan African economies were projected to contract by 1.6 per cent in 2020 due to lockdowns as it projected the global economy to contract by 3.0 per cent this year.

"Among emerging market and developing economies, all countries face a health crisis... which will have a severe impact on economic activity in commodity exporters," said the report.

"Even in countries not experiencing widespread detected outbreaks... the significant downward revision to the 2020 growth projection reflects large anticipated domestic disruptions to economic activity from COVID-19," the IMF added.

The International Monetary Fund(IMF) said on Tuesday that the coronavirus pandemic recovery would take a more coordinated stimulus. "The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around $9 trillion, greater than the economies of Japan and Germany combined," it said.

The International Monetary Fund(IMF) said on Tuesday that the coronavirus pandemic recovery would take a more coordinated stimulus. "The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around $9 trillion, greater than the economies of Japan and Germany combined," it said. "Global growth is projected at –3.0 per cent in 2020, an outcome far worse than during the 2009 global financial crisis," IMF said. "Several economies in the region are forecast to grow at modest rates, including India which is set to grow at 1.9 per cent," the report said. The IMF projected India's growth to 7.4 per cent in 2021. It said India will grow at 1.9 per cent this year as the global economy stares at a recession but said it is only one of the two major economies to record positive growth, other being China which is set to grow at 1.2 per cent this year. Also Read: Gold hits seven year high on rising economic worries, Fed stimulus In another observation, the international fund had earlier said that Sub-Saharan African economies were projected to contract by 1.6 per cent in 2020 due to lockdowns as it projected the global economy to contract by 3.0 per cent this year. "Among emerging market and developing economies, all countries face a health crisis... which will have a severe impact on economic activity in commodity exporters," said the report. "Even in countries not experiencing widespread detected outbreaks... the significant downward revision to the 2020 growth projection reflects large anticipated domestic disruptions to economic activity from COVID-19," the IMF added.

India's growth rate to be 1.9% in 2020: IMF report

Gold prices on Tuesday hit a more than seven-year high on rising fears of a steeper economic downturn and amid massive liquidity measures by global central banks.

Gold prices on Tuesday hit a more than seven-year high on rising fears of a steeper economic downturn and amid massive liquidity measures by global central banks. Spot gold gained 0.6% to $1,724.72 per ounce by 0804 GMT, having touched its highest since Nov. 2012 at $1,726.85 earlier in the session. US gold futures rose 0.6% to $1,772.20, according to news agency Reuters. "The concerns about the economic outlook are particularly supportive for gold. Liquidity (from the Federal Reserve) combined with the background of lower interest rates makes gold a much more attractive proposition," Reuters report said quoting Michael McCarthy, chief strategist at CMC Markets. Many countries and central banks have taken fiscal and monetary measures to prop up their economies amid the coronavirus outbreak. The Fed last week announced a $2.3 trillion stimulus package, while European Union finance ministers agreed on half-a-trillion euros worth of economic support. The Fed stimulus aimed at injecting liquidity into the virus-hit US economy tend to weigh on the dollar, which makes gold relatively cheaper to buy, while lower interest rates reduce the opportunity cost of holding non-yielding bullion. (With inputs from Reuters)

Gold hits seven year high on rising economic worries, Fed stimulus

The oil producting countries have finally agreed upon a production cut. As per the historic deal signed today, 10 per cent of the global oil supply would be cut. After a lot of hiccups, Organization of Petroleum Exporting countries (OPEC), and its allies led by Russia reached this deal.&nbsp;

However, the deal got a tepid reaction. The two leading benchmarks of oil sellers and buyers, Brent Crude and West Texas Intermediate remained unmoved in trade today.&nbsp;

Watch |&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-opec-allies-ink-historic-oil-deal-292334/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

What is the historic deal?

As per the deal, the production cut of oil supply will be nine million barrels per day for May and June. The cut is four times more of what was undertaken post 2008 financial crisis.&nbsp;

However, this might not be enough as experts predict a drop in demand of over 30 million barrels a day just in the month of April.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/opinions-blogs/covid-19-a-crisis-manufactured-292248">COVID-19: A crisis manufactured?</a>

Why the demand of oil dropped?

During the beginning of 2020, oil prices were in between 65 to 70 dollars per barrel. When coronavirus hit China, the factories began to shut, which led to a slide in oil prices. China is the biggest consumer of oil in the world.&nbsp;

On March 13, the oil market began to witness its worst slide in over a decade when the&nbsp;World Health Organization (WHO) declared Europe as the new epicentre of the epidemic. Now, the oil market has collapsed with prices dropping to 25 dollars per barrel.&nbsp;

The hindrances in the deal

The deal came after a lot of tensions between Russia and Saudi Arabia. Initially, Russia's Vladimir Putin rejected the deal and started a price war with Saudi Arabia. The US intervened as America was also suffering from losses from Shale oil reserves. US President Donald Trump urged Putin and Saudi Crown Pricne Mohammed bin Salman to work together to strike a deal.&nbsp; 
&nbsp;

The oil producting countries have finally agreed upon a production cut. As per the historic deal signed today, 10 per cent of the global oil supply would be cut.

The oil producting countries have finally agreed upon a production cut. As per the historic deal signed today, 10 per cent of the global oil supply would be cut. After a lot of hiccups, Organization of Petroleum Exporting countries (OPEC), and its allies led by Russia reached this deal. However, the deal got a tepid reaction. The two leading benchmarks of oil sellers and buyers, Brent Crude and West Texas Intermediate remained unmoved in trade today. Watch | What is the historic deal? As per the deal, the production cut of oil supply will be nine million barrels per day for May and June. The cut is four times more of what was undertaken post 2008 financial crisis. However, this might not be enough as experts predict a drop in demand of over 30 million barrels a day just in the month of April. Also read | COVID-19: A crisis manufactured? Why the demand of oil dropped? During the beginning of 2020, oil prices were in between 65 to 70 dollars per barrel. When coronavirus hit China, the factories began to shut, which led to a slide in oil prices. China is the biggest consumer of oil in the world. On March 13, the oil market began to witness its worst slide in over a decade when the World Health Organization (WHO) declared Europe as the new epicentre of the epidemic. Now, the oil market has collapsed with prices dropping to 25 dollars per barrel. The hindrances in the deal The deal came after a lot of tensions between Russia and Saudi Arabia. Initially, Russia's Vladimir Putin rejected the deal and started a price war with Saudi Arabia. The US intervened as America was also suffering from losses from Shale oil reserves. US President Donald Trump urged Putin and Saudi Crown Pricne Mohammed bin Salman to work together to strike a deal.

EXPLAINED: What is the historic oil deal all about?

The domestic stock markets ticked lower on Monday amid weak global cues and the buzz of a lockdown extension beyond April 14.

S&amp;P BSE Sensex fell over 500 points after opening in the red, the 50-stock Nifty too followed the same path falling below the 9,000 mark.

Meanwhile, Oil prices rallied after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough.

US benchmark West Texas Intermediate was up 7.7 percent at $24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5.0 percent to $33.08 a barrel.&nbsp;

OPEC producers dominated by Saudi Arabia and allies led by Russia met via videoconference for an hour Sunday in a last effort to cement a deal struck early Friday.&nbsp;

The domestic stock markets ticked lower on Monday amid weak global cues and the buzz of a lockdown extension beyond April 14. S&P BSE Sensex fell over 500 points after opening in the red, the 50-stock Nifty too followed the same path falling below the 9,000 mark.

The domestic stock markets ticked lower on Monday amid weak global cues and the buzz of a lockdown extension beyond April 14. S&P BSE Sensex fell over 500 points after opening in the red, the 50-stock Nifty too followed the same path falling below the 9,000 mark. Meanwhile, Oil prices rallied after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough. US benchmark West Texas Intermediate was up 7.7 percent at $24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5.0 percent to $33.08 a barrel. OPEC producers dominated by Saudi Arabia and allies led by Russia met via videoconference for an hour Sunday in a last effort to cement a deal struck early Friday.

Sensex slips 500 points, Nifty below 9000

Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough.

US benchmark West Texas Intermediate was up 7.7 percent at $24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5.0 percent to $33.08 a barrel.&nbsp;

OPEC producers dominated by Saudi Arabia and allies led by Russia met via videoconference for an hour Sunday in a last effort to cement a deal struck early Friday.&nbsp;

It still required Mexico's agreement and in a compromise reached Sunday they agreed to a cut of 9.7 million barrels per day from May, according to its Energy Minister Rocio Nahle, down slightly from 10 million barrels per day envisioned earlier.&nbsp;

OPEC Secretary General Mohammad Barkindo called the cuts "historic".&nbsp;

Oil markets have been in turmoil for weeks as lockdowns and travel restrictions imposed worldwide to combat the virus outbreak strangle demand, with a price war between Russia and Saudi Arabia compounding the crisis.

While Monday's price rises were healthy, they were not as strong as the double-digit jumps and falls of recent weeks in a highly volatile market, and analysts were sceptical the deal went far enough.&nbsp;

The amount being cut was slightly lower than had been expected, and observers said it would not make up for expected demand loss due to the virus outbreak. Some analysts are putting this at about 25 million barrels per day in April.&nbsp;

In addition, storage tanks worldwide are rapidly filling up.&nbsp;

"The deal is a little less than the market expected given that Mexico has gotten off easy," Andy Lipow, president of Lipow Oil Associates LLC in Houston, told Bloomberg News.

"The hard work lies ahead given that the market is very sceptical that OPEC+ are actually going to be able to come up with their near 10 million barrels a day of production cuts."

AxiCorp's Stephen Innes added that "there remain concerns the agreement could be a day late and a 'barrel short' to prevent a decline in prices in the coming weeks as storage capacity brims".&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough.

Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough. US benchmark West Texas Intermediate was up 7.7 percent at $24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5.0 percent to $33.08 a barrel. OPEC producers dominated by Saudi Arabia and allies led by Russia met via videoconference for an hour Sunday in a last effort to cement a deal struck early Friday. It still required Mexico's agreement and in a compromise reached Sunday they agreed to a cut of 9.7 million barrels per day from May, according to its Energy Minister Rocio Nahle, down slightly from 10 million barrels per day envisioned earlier. OPEC Secretary General Mohammad Barkindo called the cuts "historic". Oil markets have been in turmoil for weeks as lockdowns and travel restrictions imposed worldwide to combat the virus outbreak strangle demand, with a price war between Russia and Saudi Arabia compounding the crisis. While Monday's price rises were healthy, they were not as strong as the double-digit jumps and falls of recent weeks in a highly volatile market, and analysts were sceptical the deal went far enough. The amount being cut was slightly lower than had been expected, and observers said it would not make up for expected demand loss due to the virus outbreak. Some analysts are putting this at about 25 million barrels per day in April. In addition, storage tanks worldwide are rapidly filling up. "The deal is a little less than the market expected given that Mexico has gotten off easy," Andy Lipow, president of Lipow Oil Associates LLC in Houston, told Bloomberg News. "The hard work lies ahead given that the market is very sceptical that OPEC+ are actually going to be able to come up with their near 10 million barrels a day of production cuts." AxiCorp's Stephen Innes added that "there remain concerns the agreement could be a day late and a 'barrel short' to prevent a decline in prices in the coming weeks as storage capacity brims".

Oil rallies as top producers agree massive output cuts

China's central bank the people’s bank of china popularly known as People's Bank of China (PBOC) has purchased 1.75 crore shares in one of India's largest housing finance lenders, HDFC.&nbsp;

According to reports the deal that possibly happened in the March quarter has raised the total stake of PBOC in Indian firm to a little over 1 per cent. &nbsp;The shares of HDFC have come down by over 32% since the slide of Indian markets begun to post the outbreak of coronavirus.​&nbsp;

HDFC also owns over 20 per cent stake in HDFC bank, India's leading private sector bank. PBOC, an existing shareholder of HDFC earlier owned 0.8 per cent in the company as of March 2019.&nbsp;

The disclosure to stock exchanges has been made now since the stake has hit the 1 per cent regulatory threshold.&nbsp;

Amid the stock market crash, china has been buying stakes across major Asian financial institutions. Earlier in 2014, PBOC had picked up stakes in many high profile Italian companies during the eurozone debt crisis.

According to reports, Chinese banks were looking for newer avenues of investments in India.

The price at which shares were purchased could not be confirmed.HDFC stock saw a 33 per cent correction during the January-March quarter - from Rs 2,433.75 on January 1 to Rs 1,630.45 on March 31.

It had hit a low of Rs 1,501.80 apiece on the BSE on March 24, from where it saw a sharp rally to Rs 1,754 on March 27.

Central banks typically have investments in various asset classes including gold, foreign currencies and also bonds, including both government and corporate ones.&nbsp;

(With inputs from agencies)

China's central bank the people’s bank of china popularly known as People's Bank of China (PBOC) has purchased 1.75 crore shares in one of India's largest housing finance lenders, HDFC.

China's central bank the people’s bank of china popularly known as People's Bank of China (PBOC) has purchased 1.75 crore shares in one of India's largest housing finance lenders, HDFC. According to reports the deal that possibly happened in the March quarter has raised the total stake of PBOC in Indian firm to a little over 1 per cent. The shares of HDFC have come down by over 32% since the slide of Indian markets begun to post the outbreak of coronavirus. HDFC also owns over 20 per cent stake in HDFC bank, India's leading private sector bank. PBOC, an existing shareholder of HDFC earlier owned 0.8 per cent in the company as of March 2019. The disclosure to stock exchanges has been made now since the stake has hit the 1 per cent regulatory threshold. Amid the stock market crash, china has been buying stakes across major Asian financial institutions. Earlier in 2014, PBOC had picked up stakes in many high profile Italian companies during the eurozone debt crisis. According to reports, Chinese banks were looking for newer avenues of investments in India. The price at which shares were purchased could not be confirmed.HDFC stock saw a 33 per cent correction during the January-March quarter - from Rs 2,433.75 on January 1 to Rs 1,630.45 on March 31. It had hit a low of Rs 1,501.80 apiece on the BSE on March 24, from where it saw a sharp rally to Rs 1,754 on March 27. Central banks typically have investments in various asset classes including gold, foreign currencies and also bonds, including both government and corporate ones. (With inputs from agencies)

China's central bank  buys 1.75 crore shares in HDFC, raises stake to over 1%

The domestic stock markets surged on Thursday with the Sensex gaining over 1,000 points in line with broader Asian markets that gained on hopes that the coronavirus pandemic was nearing its peak globally.

Around 1:20 pm, Sensex was trading at 31,074.98, higher by 1,171.67 points or 3.92% from the previous close of 29,893.96 and Nifty was trading 343.85 points higher at 9,092.60.

Good buying in auto, healthcare and finance stocks also supported the indices. 
 
Among the Sensex stocks, the top gainers were Hero MotoCorp, Maruti Suzuki India and Bajaj Auto, while Hindustan Unilever, Tech Mahindra and IndusInd Bank were the only losers so far.

The domestic stock markets surged on Thursday with the Sensex gaining over 1,000 points in line with broader Asian markets that gained on hopes that the coronavirus pandemic was nearing its peak globally.

The domestic stock markets surged on Thursday with the Sensex gaining over 1,000 points in line with broader Asian markets that gained on hopes that the coronavirus pandemic was nearing its peak globally. Around 1:20 pm, Sensex was trading at 31,074.98, higher by 1,171.67 points or 3.92% from the previous close of 29,893.96 and Nifty was trading 343.85 points higher at 9,092.60. Good buying in auto, healthcare and finance stocks also supported the indices. Among the Sensex stocks, the top gainers were Hero MotoCorp, Maruti Suzuki India and Bajaj Auto, while Hindustan Unilever, Tech Mahindra and IndusInd Bank were the only losers so far.

Sensex stays above 31,000 points, Nifty at 9,070

The coronavirus crisis and the subsequent nationwide lockdown has impacted India in more than one ways. The economy has come to a standstill, and India is staring at a recession.

A FICCI survey has, in consequence, said that few sectors like restaurants, auto and real estate may take around 12 to 24 months to recover. The other severely hit sectors also &nbsp;may require similar period to revive. These include transportation and tourism, logistics, entertainment and consumer durables.

The survey titled 'COVID-19 India: Economic Impact &amp; Mitigation' said that sectors such as apparel and beauty product, beverages, alcoholic beverages, insurance, agriculture, chemicals, metals and mining, services, industries, offline retail, and healthcare are likely to recover in 9-12 months.

The survey report, however, added the recovery is dependent on consumption stimulus and survival of businesses itself.

The industry body also said the Indian industry requires an immediate stimulus package of Rs 9-10 lakh crore, which would account for 4-5 per cent of the country's GDP.

The report stated services such as food retail, telecommunications, utility services and pharmaceuticals have witnessed a boost in the short term and would stabilise in the long term, in about 6-9 months. Online healthcare, personal care, online entertainment and education have also received a boost during the restrictions and lockdown and would keep growth momentum in the long term.

 
&nbsp;

The coronavirus crisis and the subsequent nationwide lockdown has impacted India in more than one ways. The economy has come to a standstill, and India is staring at a recession.

The coronavirus crisis and the subsequent nationwide lockdown has impacted India in more than one ways. The economy has come to a standstill, and India is staring at a recession. A FICCI survey has, in consequence, said that few sectors like restaurants, auto and real estate may take around 12 to 24 months to recover. The other severely hit sectors also may require similar period to revive. These include transportation and tourism, logistics, entertainment and consumer durables. The survey titled 'COVID-19 India: Economic Impact & Mitigation' said that sectors such as apparel and beauty product, beverages, alcoholic beverages, insurance, agriculture, chemicals, metals and mining, services, industries, offline retail, and healthcare are likely to recover in 9-12 months. The survey report, however, added the recovery is dependent on consumption stimulus and survival of businesses itself. The industry body also said the Indian industry requires an immediate stimulus package of Rs 9-10 lakh crore, which would account for 4-5 per cent of the country's GDP. The report stated services such as food retail, telecommunications, utility services and pharmaceuticals have witnessed a boost in the short term and would stabilise in the long term, in about 6-9 months. Online healthcare, personal care, online entertainment and education have also received a boost during the restrictions and lockdown and would keep growth momentum in the long term.

Restaurants, realty sector worst hit due to coronavirus lockdown, will take 1-2 yrs to revive, says report

After a negative start in the early morning session, Indian equity markets staged a smart recovery on Wednesday, lifted by pharma, FMCG, and auto stocks, despite weakness in most global indices.

At 10 am, BSE Sensex index was up 392.47 points, or 1.31%, at 30,459.68 levels. The Nifty50 index jumped 147.05 points, higher at 8,939.25 levels. Nifty Bank index, up 5.5 per cent, was the top sectoral gainer.&nbsp;

Yesterday, Indian equity indices recorded their biggest single-day gain on Tuesday with the BSE Sensex gaining over 2,400 points.&nbsp;

Positive global cues and healthy buying in the banking, healthcare stocks among others supported boosted the nearly 9 per cent surge and helped the benchmark index was able to reclaim the psychological mark of 30,000.

After a negative start in the early morning session, Indian equity markets staged a smart recovery on Wednesday, lifted by pharma, FMCG, and auto stocks, despite weakness in most global indices.

After a negative start in the early morning session, Indian equity markets staged a smart recovery on Wednesday, lifted by pharma, FMCG, and auto stocks, despite weakness in most global indices. At 10 am, BSE Sensex index was up 392.47 points, or 1.31%, at 30,459.68 levels. The Nifty50 index jumped 147.05 points, higher at 8,939.25 levels. Nifty Bank index, up 5.5 per cent, was the top sectoral gainer. Yesterday, Indian equity indices recorded their biggest single-day gain on Tuesday with the BSE Sensex gaining over 2,400 points. Positive global cues and healthy buying in the banking, healthcare stocks among others supported boosted the nearly 9 per cent surge and helped the benchmark index was able to reclaim the psychological mark of 30,000.

Sensex jumps 500 points, Nifty reclaims 8,950

Are you bored with the quarantine routine? Do you miss posting restaurant and travel photos online? Have you run out of content for your social media followers? Well, we have compiled some fun exercises for you.

Netizens around the world have found ways to keep themselves busy during the lockdown through tons of social media challenges.

How does it work?&nbsp;

You are shown a bunch of hand emojis and all you have to do is imitate them fast. It's that simple. Or maybe not.

While you are at it, you could also try the face emoji challenge and drill is the same. Just that, this time, you will have to make faces. Something that all we do every day, don't we? There is a challenge for the lockdown chefs too. Dalgona coffee.

It also tests your arm strength and patience. Fitness enthusiasts here's something to keep you busy. Everyone is making their version of the dalgona iced-coffee. We don't know if they have a de-caf variation though but what we do know is that there is a lockdown challenge for all the saree lovers. This one is simple. Upload a picture of yourself in a saree and tag some friends. They will have to follow suit. That's how the chain grows.

These challenges are keeping the spirit of netizens high during the lockdown with no fancy restaurant pictures to post. Social media users are now challenging each other to these online games. Online ludo and uno has seen a uptick too Well, whatever keeps folks positive!

&nbsp;Happy quarantining!

&nbsp;

Are you bored with the quarantine routine? Do you miss posting restaurant and travel photos online? Have you run out of content for your social media followers? Well, we have compiled some fun exercises for you.

Are you bored with the quarantine routine? Do you miss posting restaurant and travel photos online? Have you run out of content for your social media followers? Well, we have compiled some fun exercises for you. Netizens around the world have found ways to keep themselves busy during the lockdown through tons of social media challenges. How does it work? You are shown a bunch of hand emojis and all you have to do is imitate them fast. It's that simple. Or maybe not. While you are at it, you could also try the face emoji challenge and drill is the same. Just that, this time, you will have to make faces. Something that all we do every day, don't we? There is a challenge for the lockdown chefs too. Dalgona coffee. It also tests your arm strength and patience. Fitness enthusiasts here's something to keep you busy. Everyone is making their version of the dalgona iced-coffee. We don't know if they have a de-caf variation though but what we do know is that there is a lockdown challenge for all the saree lovers. This one is simple. Upload a picture of yourself in a saree and tag some friends. They will have to follow suit. That's how the chain grows. These challenges are keeping the spirit of netizens high during the lockdown with no fancy restaurant pictures to post. Social media users are now challenging each other to these online games. Online ludo and uno has seen a uptick too Well, whatever keeps folks positive! Happy quarantining!

How netizens keep themselves busy during lockdown

The World Trade Organization(WTO) chief Roberto Azevedo said today that the <a href="https://www.wionews.com/world/coronavirus-timeline-from-covid-19s-origin-to-spread-291354">coronavirus</a> could lead to the "deepest economic recession or downturn of our lifetimes" the world grapples with the virus.

<a href="https://www.wionews.com/world/spain-records-757-deaths-as-one-day-toll-rises-after-falling-for-four-straight-days-291358">Also Read: Spain records 757 deaths as one-day toll rises after falling for four straight days</a>

"We should aim to make the most of all potential drivers of sustainable growth to reverse this situation," the WTO chief said. The global trade body said that growth is expected to plummet by up to a third this year due to the pandemic sweeping the world.

"World trade is expected to fall by between 13 percent and 32 percent in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world," it said.

WTO said trade was already slowing since last year but now "is expected to register double-digit declines in trade volumes in nearly all regions this year".

"This crisis is first and foremost a health crisis which has forced governments to take unprecedented measures to protect people's lives," Azevedo said, adding,"the unavoidable declines in trade and output will have painful consequences for households and businesses, on top of the human suffering caused by the disease itself."

The virus has already claimed over 76,000 lives with Europe being the most affected after China where it originated in December last year. There are already 1,447,466 cases of infection worldwide with 399, 929 affected in the US- the highest in the world, followed by 146, 690 in Spain.

Over 17,000 people have died to COVID-19 in Italy which has been the worst affected country in the world after Spain where 14, 555 people have died so far. In France, over 10,000 people have died. In the United Kingdom, over 6,000 people have died with PM Johnson in ICU after being hit by the virus himself.&nbsp;

The World Trade Organization(WTO) chief Roberto Azevedo said today that the coronavirus could lead to the "deepest economic recession or downturn of our lifetimes" the world grapples with the virus.

The World Trade Organization(WTO) chief Roberto Azevedo said today that the coronavirus could lead to the "deepest economic recession or downturn of our lifetimes" the world grapples with the virus. Also Read: Spain records 757 deaths as one-day toll rises after falling for four straight days "We should aim to make the most of all potential drivers of sustainable growth to reverse this situation," the WTO chief said. The global trade body said that growth is expected to plummet by up to a third this year due to the pandemic sweeping the world. "World trade is expected to fall by between 13 percent and 32 percent in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world," it said. WTO said trade was already slowing since last year but now "is expected to register double-digit declines in trade volumes in nearly all regions this year". "This crisis is first and foremost a health crisis which has forced governments to take unprecedented measures to protect people's lives," Azevedo said, adding,"the unavoidable declines in trade and output will have painful consequences for households and businesses, on top of the human suffering caused by the disease itself." The virus has already claimed over 76,000 lives with Europe being the most affected after China where it originated in December last year. There are already 1,447,466 cases of infection worldwide with 399, 929 affected in the US- the highest in the world, followed by 146, 690 in Spain. Over 17,000 people have died to COVID-19 in Italy which has been the worst affected country in the world after Spain where 14, 555 people have died so far. In France, over 10,000 people have died. In the United Kingdom, over 6,000 people have died with PM Johnson in ICU after being hit by the virus himself.

COVID-19 could lead to deepest economic recession of our lifetime: WTO

While most of us are trying to deal with the coronavirus pandemic, it looks like cybercriminals are not on lockdown. Reports suggest that remote office setups have emerged as a new hotbed for hackers.&nbsp;

They are trying different ways to break into your Wi-Fi networks, online accounts and computers as hacking a home IT System is relatively easier than the ones deployed in office and once hacked, you may lose a lot from your data to money in your bank accounts. Therefore, you are advised to be extra cautious with your online activities.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/black-shark-2-should-you-buy-this-gaming-phone-227916/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

Here are a few tips that can help you fend off cyber attacks.

1. Most commonly, hackers are using coronavirus-related phishing e-mails to attack people. They are playing into people’s fear. Today, people are afraid of COVID-19 and they are trying to get information on the virus from wherever they can. Cybercriminals are exploiting this behaviour to send fake emails and lure users with malicious links.&nbsp;Once you click on these links, hackers can break into your computer and mailbox to get your data. Therefore, avoid opening suspicious e-mails and clicking on unverified coronavirus-related links circulating on social messaging apps, emails, and elsewhere.

2. Create a strong password for your Wi-Fi network and online services such as banking and email accounts. How do you do that? Use a combination of letters, numbers and symbols in your password and keep it long. And that’s not all. Protect your online accounts with multiple layers of security. The best way to do that is by opting for the two-step verification. After all, it’s always better to have more layers of security than one.

3. Don’t forget to update your system. Software companies often roll out new updates with security patches. In other words, a new software update can make your system more secure than the previous version. Therefore, install updates on your desktop or laptop regularly. &nbsp;

4. A weak Wi-Fi network can make it easy for criminals to break into your system. So, secure your Wi-Fi access point carefully. Choose a complex password for your router, reset it every few days and limit the number of connected devices to your network.

5. Last but not least, use a virtual private network. A VPN can help protect the data you exchange with others. VPNs can provide a secure link between employees and organisations. They encrypt data and scan devices for malicious software such as viruses and ransomware.

If you follow these best practices, you can set up a safer work environment at home and reduce your chances of getting attacked by cybercriminals. 
&nbsp;

While most of us are trying to deal with the coronavirus pandemic, it looks like cybercriminals are not on lockdown. Reports suggest that remote office setups have emerged as a new hotbed for hackers.

While most of us are trying to deal with the coronavirus pandemic, it looks like cybercriminals are not on lockdown. Reports suggest that remote office setups have emerged as a new hotbed for hackers. They are trying different ways to break into your Wi-Fi networks, online accounts and computers as hacking a home IT System is relatively easier than the ones deployed in office and once hacked, you may lose a lot from your data to money in your bank accounts. Therefore, you are advised to be extra cautious with your online activities. × Here are a few tips that can help you fend off cyber attacks. 1. Most commonly, hackers are using coronavirus-related phishing e-mails to attack people. They are playing into people’s fear. Today, people are afraid of COVID-19 and they are trying to get information on the virus from wherever they can. Cybercriminals are exploiting this behaviour to send fake emails and lure users with malicious links. Once you click on these links, hackers can break into your computer and mailbox to get your data. Therefore, avoid opening suspicious e-mails and clicking on unverified coronavirus-related links circulating on social messaging apps, emails, and elsewhere. 2. Create a strong password for your Wi-Fi network and online services such as banking and email accounts. How do you do that? Use a combination of letters, numbers and symbols in your password and keep it long. And that’s not all. Protect your online accounts with multiple layers of security. The best way to do that is by opting for the two-step verification. After all, it’s always better to have more layers of security than one. 3. Don’t forget to update your system. Software companies often roll out new updates with security patches. In other words, a new software update can make your system more secure than the previous version. Therefore, install updates on your desktop or laptop regularly. 4. A weak Wi-Fi network can make it easy for criminals to break into your system. So, secure your Wi-Fi access point carefully. Choose a complex password for your router, reset it every few days and limit the number of connected devices to your network. 5. Last but not least, use a virtual private network. A VPN can help protect the data you exchange with others. VPNs can provide a secure link between employees and organisations. They encrypt data and scan devices for malicious software such as viruses and ransomware. If you follow these best practices, you can set up a safer work environment at home and reduce your chances of getting attacked by cybercriminals.

Working from home? 5 tips to stay safe from hackers

Taiwan's cabinet has told government agencies not to use Zoom Video Communications Inc's conferencing app, the latest blow to the company fighting criticism of its booming platform over privacy and security concerns.

Taiwan's cabinet has told government agencies not to use Zoom Video Communications Inc's conferencing app, the latest blow to the company fighting criticism of its booming platform over privacy and security concerns. Zoom's daily users jumped to more than 200 million in March following coronavirus lockdowns forced employees to work from home and schools switched to the company's free app for conducting and coordinating online classes. However, the company is facing a backlash from users worried about the lack of end-to-end encryption of meeting sessions and "zoombombing", where uninvited guests crash into meetings. If government agencies must hold video conferencing, they "should not use products with security concerns, like Zoom", Taiwan's cabinet said in a statement on Tuesday. It did not elaborate on what the security concerns were. The island's education ministry later said it was banning the use of Zoom in schools. Taiwan would be the first government formally advising against the use of Zoom, although some U.S. schools districts are looking at putting limits on its use after an FBI warning last month. Zoom competes with Microsoft's Teams, Cisco's Webex and Google's Hangouts. Taiwan's cabinet said domestically-made conferencing apps were preferred, but if needed products from Google and Microsoft could also be considered. Zoom's shares dipped 1% in premarket trading on the Nasdaq.

Taiwan asks  govt agencies not to use Zoom on security grounds

Shares of Zoom Video Communications Inc fell 8% on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy concerns and increased competition from deep-pocketed rivals.

The stock had surged to a record high in March as demand for the app skyrocketed with millions of people around the world using it for everything from school lessons to business meetings amid lockdowns imposed to slow the spread of the coronavirus.

But multiple reports last week that questioned the company`s data privacy practices have spooked investors, erasing nearly a third of the company`s market value from its record high.

The stock was last down 7.9% at $118.05 on Monday and was the worst performer on the Nasdaq.

Brokerage Credit Suisse downgraded Zoom stock to "underperform" from "neutral". Analysts on average rate the stock "hold", according to Refinitiv data.

"While implied new customer growth may seem undemanding compared to recently disclosed 20x participant growth, we expect much of the recent surge will prove ephemeral, and/or comes from free users or education, which are very difficult to monetize," Credit Suisse analysts wrote in a note.

Last week, at least two U.S. state attorneys had sought information from Zoom following reports that questioned its privacy and security.

Some school districts in the United States have started to ban the app for online learning from home because of growing security concerns, the Washington Post reported on Saturday.

Reuters also reported last week that Elon Musk's rocket company SpaceX had banned its employees from using Zoom, citing "significant privacy and security concerns."

Microsoft Corp said on Monday its Teams platform, which competes with Zoom, does not use customer data for ads, and encrypts data to protect against cybersecurity threats.

While analysts believe that many issues with Zoom, especially those originating from user error, are likely to get solved in the short term, others could remain for some time.

"I think it`s a legitimate reputational risk," DA Davidson analyst Rishi Jaluria said, adding a surge in Zoom`s consumer user base could be a challenge as it was originally built to be an enterprise tool.

Zoom`s daily users ballooned to more than 200 million in March from a previous maximum total of 10 million, Chief Executive Officer Eric Yuan said last week.

Microsoft`s Teams had 44 million users globally as of March 18, doubling from what it reported in November.

Shares of Zoom Video Communications Inc fell 8% on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy concerns and increased competition from deep-pocketed rivals.

Shares of Zoom Video Communications Inc fell 8% on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy concerns and increased competition from deep-pocketed rivals. The stock had surged to a record high in March as demand for the app skyrocketed with millions of people around the world using it for everything from school lessons to business meetings amid lockdowns imposed to slow the spread of the coronavirus. But multiple reports last week that questioned the company`s data privacy practices have spooked investors, erasing nearly a third of the company`s market value from its record high. The stock was last down 7.9% at $118.05 on Monday and was the worst performer on the Nasdaq. Brokerage Credit Suisse downgraded Zoom stock to "underperform" from "neutral". Analysts on average rate the stock "hold", according to Refinitiv data. "While implied new customer growth may seem undemanding compared to recently disclosed 20x participant growth, we expect much of the recent surge will prove ephemeral, and/or comes from free users or education, which are very difficult to monetize," Credit Suisse analysts wrote in a note. Last week, at least two U.S. state attorneys had sought information from Zoom following reports that questioned its privacy and security. Some school districts in the United States have started to ban the app for online learning from home because of growing security concerns, the Washington Post reported on Saturday. Reuters also reported last week that Elon Musk's rocket company SpaceX had banned its employees from using Zoom, citing "significant privacy and security concerns." Microsoft Corp said on Monday its Teams platform, which competes with Zoom, does not use customer data for ads, and encrypts data to protect against cybersecurity threats. While analysts believe that many issues with Zoom, especially those originating from user error, are likely to get solved in the short term, others could remain for some time. "I think it`s a legitimate reputational risk," DA Davidson analyst Rishi Jaluria said, adding a surge in Zoom`s consumer user base could be a challenge as it was originally built to be an enterprise tool. Zoom`s daily users ballooned to more than 200 million in March from a previous maximum total of 10 million, Chief Executive Officer Eric Yuan said last week. Microsoft`s Teams had 44 million users globally as of March 18, doubling from what it reported in November.

After record surge in March, Zoom stock down over security concerns, rising competition

The continued closure of car plants across Europe and North America will cost the auto industry more than $100bn (£82bn) in lost revenues if the shutdown lasts until the end of April, according to a report All major European carmakers have suspended production because of disruption caused by the spread of the coronavirus and if this continues as expected until the end of April, this will account for $66bn (£54bn) in lost sales in Europe or 2.

The continued closure of car plants across Europe and North America will cost the auto industry more than $100bn (£82bn) in lost revenues if the shutdown lasts until the end of April, according to a report All major European carmakers have suspended production because of disruption caused by the spread of the coronavirus and if this continues as expected until the end of April, this will account for $66bn (£54bn) in lost sales in Europe or 2.6m cars, the report added. In North America, this will account for 2m cars, and lost sales of about $52bn (£42bn). The calculations have been made by Ian Henry, the owner of the consultancy AutoAnalysis, who produces forecasts for the industry body, the Society of Motor Manufacturers and Traders (SMMT). Assembly lines ground to a halt in March as the lockdown across Europe disrupted global supply chains, and analysts predicted large falls in demand in all key markets. All volume manufacturers from BMW to Toyota and Nissan to Jaguar Land Rover sent their workers home after the worsening outbreak on the continent led companies to examine the health implications for their workers. The story was repeated across North America as the Detroit carmakers, including General Motors, Ford and Fiat Chrysler, shut down their plants.

Car plant shutdowns may cost auto industry more than $100 billion: Report

The coronavirus pandemic has brought the global economy to a standstill. The International Monetary Fund (IMF) says the recession that has drawn upon the world is "way worse" than the global financial crisis a decade ago.

The IMF's managing director, Kristalina Georgieva, speaking at a joint news conference with the leader of the World Health Organisation (WHO), called on advanced economies to step up their efforts to help emerging markets and developing countries survive the economic and health impact of the pandemic.

"This is a crisis like no other. We have witnessed the world economy coming to a standstill. We are now in recession. It is way worse than the global financial crisis of 2008-2009," she said on a video conference call.

More than 1 million people worldwide have been infected with COVID-19, the disease caused by the virus, and more than 53,000 have died.

Georgieva said the IMF was working with the World Bank and WHO to advance their call for China and other official bilateral creditors to suspend debt collections from the poorest countries for at least a year until the pandemic subsides.

Emerging markets and developing economies have been hard hit by the crisis, Georgieva said, noting that nearly $90 billion in investments had already flowed out of emerging markets, far more than during the financial crisis. Some countries are also suffering from sharp drops in commodity prices.

"Helping emerging markets and developing countries will be a main priority for the IMF in coming weeks and months," she said.

The IMF and WHO have called for emergency aid to be used mainly to strengthen health systems, pay doctors and nurses, and buy protective gear.

The IMF has begun disbursing funds to requesting countries, including Rwanda, with requests from two additional African nations to be reviewed on Friday.

The IMF's board in coming days would review a proposal to create a new short-term liquidity line to help provide funds to countries facing problems. Georgieva also urged central banks and particularly the US Federal Reserve to continue offering swap lines to emerging economies.

(with inputs from agencies)

The coronavirus pandemic has brought the global economy to a standstill. The International Monetary Fund (IMF) says the recession that has drawn upon the world is "way worse" than the global financial crisis a decade ago.

The coronavirus pandemic has brought the global economy to a standstill. The International Monetary Fund (IMF) says the recession that has drawn upon the world is "way worse" than the global financial crisis a decade ago. The IMF's managing director, Kristalina Georgieva, speaking at a joint news conference with the leader of the World Health Organisation (WHO), called on advanced economies to step up their efforts to help emerging markets and developing countries survive the economic and health impact of the pandemic. "This is a crisis like no other. We have witnessed the world economy coming to a standstill. We are now in recession. It is way worse than the global financial crisis of 2008-2009," she said on a video conference call. More than 1 million people worldwide have been infected with COVID-19, the disease caused by the virus, and more than 53,000 have died. Georgieva said the IMF was working with the World Bank and WHO to advance their call for China and other official bilateral creditors to suspend debt collections from the poorest countries for at least a year until the pandemic subsides. Emerging markets and developing economies have been hard hit by the crisis, Georgieva said, noting that nearly $90 billion in investments had already flowed out of emerging markets, far more than during the financial crisis. Some countries are also suffering from sharp drops in commodity prices. "Helping emerging markets and developing countries will be a main priority for the IMF in coming weeks and months," she said. The IMF and WHO have called for emergency aid to be used mainly to strengthen health systems, pay doctors and nurses, and buy protective gear. The IMF has begun disbursing funds to requesting countries, including Rwanda, with requests from two additional African nations to be reviewed on Friday. The IMF's board in coming days would review a proposal to create a new short-term liquidity line to help provide funds to countries facing problems. Georgieva also urged central banks and particularly the US Federal Reserve to continue offering swap lines to emerging economies. (with inputs from agencies)

Coronavirus-induced global downturn worse than financial crisis a decade ago: IMF

Various studies are showing that coronavirus will or already make an impact on the economy. Several people have already been laid off as industries, companies are witnessing a sharp fall in demand.

So at this juncture, should you be ready for a salary cut? Here's an attempt to answer this.&nbsp;

Watch:

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-wuhan-coronavirus-should-you-brace-for-pay-cut-290231/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Let's first look at France. The French government is paying 50 billion dollars to businesses to run. The idea behind this move is that 3.6 million French employees don't lose their jobs during or post the crisis.

Also read |&nbsp;<a href="https://www.wionews.com/world/global-coronavirus-cases-near-a-million-death-toll-rises-to-50230-290148">Global coronavirus cases near a million; death toll rises to 50,230</a>

The workers would later also get reimbursement of the loss of wages from the government. The tax and loan deadlines have also been extended. The government is also giving more than 300 billion dollars to struggling organisations so that they keep paying salaries to their staff and don't lay them off.&nbsp;

In India, the worst-hit industries are aviation, tourism and hospitality. These industries are suffering not just in India but in other countries too.

British Airways is set to suspend nearly 36,000 employees. Global airlines have already announced pay cuts of 20-25 per cent. India's largest airline Indigo's CEO has also done this. Salaries up to 25 per cent have been deducted of the staff with those in the lower pay grade spared.&nbsp;

Another Indian carrier Spicejet has announced a 10-30 per cent pay cut off all its employees. Again, those belonging to the lowest pay grade were given respite.&nbsp;

GoAir has fired all of its ex-pat pilots after suspending all its international operations. The top leadership's salaries were cut by 50 per cent. The carrier also announced leave-without-pay for its staff on a rotational basis.&nbsp;

In India, the tourism and hospitality sector is staring at a loss of 38 million jobs, which is roughly 70 per cent of the total workforce. Ticket booking platforms such as MakemyTrip and Cleartrip are planning pay cuts to its employees.&nbsp;

Hospitality chain FabHotels is also eyeing a similar move.&nbsp;

The news and media industry has also suffered great losses. The Indian Express newspaper has cut salaries by upto 30 per cent.&nbsp;

In India, government jobs provide security and a pay cut is generally not seen.

However, the coronavirus outbreak has made Indians see even this.&nbsp;

The governments of Telangana, Andhra Pradesh, Odisha, and Rajasthan have announced deduction of salaries of its employees, ranging from 10 per cent to 100 per cent, subject to pay grade.&nbsp;

Kerala government has deducted salaries of the state government employees of the entire month in order to raise 2,000 crore rupees. On the other hand, Maharashtra has decided to pay employees in installments.&nbsp;

So the current situation and trend suggest that the loss of jobs and salaries is inevitable. But only time will tell. how far does it go and what steps do governments take.&nbsp;

Various studies are showing that coronavirus will or already make an impact on the economy. Several people have already been laid off as industries, companies are witnessing a sharp fall in demand.

Various studies are showing that coronavirus will or already make an impact on the economy. Several people have already been laid off as industries, companies are witnessing a sharp fall in demand. So at this juncture, should you be ready for a salary cut? Here's an attempt to answer this. Watch: Let's first look at France. The French government is paying 50 billion dollars to businesses to run. The idea behind this move is that 3.6 million French employees don't lose their jobs during or post the crisis. Also read | Global coronavirus cases near a million; death toll rises to 50,230 The workers would later also get reimbursement of the loss of wages from the government. The tax and loan deadlines have also been extended. The government is also giving more than 300 billion dollars to struggling organisations so that they keep paying salaries to their staff and don't lay them off. In India, the worst-hit industries are aviation, tourism and hospitality. These industries are suffering not just in India but in other countries too. British Airways is set to suspend nearly 36,000 employees. Global airlines have already announced pay cuts of 20-25 per cent. India's largest airline Indigo's CEO has also done this. Salaries up to 25 per cent have been deducted of the staff with those in the lower pay grade spared. Another Indian carrier Spicejet has announced a 10-30 per cent pay cut off all its employees. Again, those belonging to the lowest pay grade were given respite. GoAir has fired all of its ex-pat pilots after suspending all its international operations. The top leadership's salaries were cut by 50 per cent. The carrier also announced leave-without-pay for its staff on a rotational basis. In India, the tourism and hospitality sector is staring at a loss of 38 million jobs, which is roughly 70 per cent of the total workforce. Ticket booking platforms such as MakemyTrip and Cleartrip are planning pay cuts to its employees. Hospitality chain FabHotels is also eyeing a similar move. The news and media industry has also suffered great losses. The Indian Express newspaper has cut salaries by upto 30 per cent. In India, government jobs provide security and a pay cut is generally not seen. However, the coronavirus outbreak has made Indians see even this. The governments of Telangana, Andhra Pradesh, Odisha, and Rajasthan have announced deduction of salaries of its employees, ranging from 10 per cent to 100 per cent, subject to pay grade. Kerala government has deducted salaries of the state government employees of the entire month in order to raise 2,000 crore rupees. On the other hand, Maharashtra has decided to pay employees in installments. So the current situation and trend suggest that the loss of jobs and salaries is inevitable. But only time will tell. how far does it go and what steps do governments take.

Will coronavirus crisis cost your paycheck, employment?

FMCG firm Marico on Friday said it has tied up with online food ordering platforms Swiggy and Zomato to deliver essential food items to consumers during the lockdown period.

Under this partnership, Swiggy and Zomato would deliver essential food items under the Marico portfolio which includes Saffola Oils, Saffola Plain Oats, Saffola Masala Oats and Coco Soul Virgin coconut oil, at doorsteps of the customers.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/world-bank-approves-1-billion-emergency-fund-for-india-to-fight-coronavirus-290252" hreflang="en">World Bank approves $1 billion emergency fund for India to fight coronavirus</a>

"Through this collaboration, in line with its commitment to provide safe and nutritious food, Marico Ltd aims to supply necessary food items to consumers without having them to step out of their homes, in these times of turmoil,&nbsp;said a joint statement.

This service is available on Zomato in Delhi-NCR and Bengaluru. It will be activated in other cities such as Mumbai, Kolkata, Chandigarh and Ahmedabad from next week, it said.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/no-shortage-of-medical-supplies-to-fight-covid-19-outbreak-government-290411" hreflang="en">No shortage of medical supplies to fight COVID-19 outbreak: Government</a>

While Swiggy stores have started the delivery in Gurugram, the service in Delhi-NCR, Bengaluru and Mumbai will begin this weekend, it added.

As one of India's leading consumer companies, we are working towards ensuring the availability and easy access of essential food items to consumers. In an effort towards this, we have partnered with Swiggy and Zomato to provide Saffola and Coco Soul products to individuals' doorstep in a safe manner,&nbsp;Marico Chief Operating Officer- India Sales &amp; Bangladesh Business Sanjay Mishra said.

Swiggy Chief Operating Officer Vivek Sunder said through this partnership , Swiggy will leverage and engage its extensive delivery fleet to ensure that essential products such as cooking oil and oats reach consumers quickly and in a safe manner.

On Thursday, ITC Foods announced its partnernship with Domino's Pizaa by launching Domino's Essentials&nbsp;to deliver groceries and packaged foods to customers during the lockdown period.

The government has imposed a 21-day nationwide lockdown till April 14 to stem the spread of coronavirus infections.

FMCG firm Marico on Friday said it has tied up with online food ordering platforms Swiggy and Zomato to deliver essential food items to consumers during the lockdown period.

FMCG firm Marico on Friday said it has tied up with online food ordering platforms Swiggy and Zomato to deliver essential food items to consumers during the lockdown period. Under this partnership, Swiggy and Zomato would deliver essential food items under the Marico portfolio which includes Saffola Oils, Saffola Plain Oats, Saffola Masala Oats and Coco Soul Virgin coconut oil, at doorsteps of the customers. Also read: World Bank approves $1 billion emergency fund for India to fight coronavirus "Through this collaboration, in line with its commitment to provide safe and nutritious food, Marico Ltd aims to supply necessary food items to consumers without having them to step out of their homes, in these times of turmoil, said a joint statement. This service is available on Zomato in Delhi-NCR and Bengaluru. It will be activated in other cities such as Mumbai, Kolkata, Chandigarh and Ahmedabad from next week, it said. Also read: No shortage of medical supplies to fight COVID-19 outbreak: Government While Swiggy stores have started the delivery in Gurugram, the service in Delhi-NCR, Bengaluru and Mumbai will begin this weekend, it added. As one of India's leading consumer companies, we are working towards ensuring the availability and easy access of essential food items to consumers. In an effort towards this, we have partnered with Swiggy and Zomato to provide Saffola and Coco Soul products to individuals' doorstep in a safe manner, Marico Chief Operating Officer- India Sales & Bangladesh Business Sanjay Mishra said. Swiggy Chief Operating Officer Vivek Sunder said through this partnership , Swiggy will leverage and engage its extensive delivery fleet to ensure that essential products such as cooking oil and oats reach consumers quickly and in a safe manner. On Thursday, ITC Foods announced its partnernship with Domino's Pizaa by launching Domino's Essentials to deliver groceries and packaged foods to customers during the lockdown period. The government has imposed a 21-day nationwide lockdown till April 14 to stem the spread of coronavirus infections.

Marico ties up with Swiggy, Zomato to deliver goods during lockdown

Ride-hailing platform Uber on Friday said it has partnered with the National Health Authority (NHA) to provide transport service to frontline healthcare workers in the country, who are engaged in the treatment of COVID-19 patients.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/no-shortage-of-medical-supplies-to-fight-covid-19-outbreak-government-290411" hreflang="en">No shortage of medical supplies to fight COVID-19 outbreak: Government</a>

Uber will initially facilitate the provision of 150 cars free of cost to support medical facilities in New Delhi, Noida, Ghaziabad, Kanpur, Lucknow, Prayagraj and Patna through its recently launched UberMedic service, according to a statement.

All UberMedic cars supplied to NHA will be equipped with roof-to-floor plastic sheeting enclosing the driver's seat, thereby acting as a protective barrier between the rider and driver, it added.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/pm-modi-urges-citizens-to-light-diyas-candles-on-sunday-at-9-pm-for-9-mins-to-dispel-darkness-brought-by-coronavirus-290268" hreflang="en">PM Modi urges citizens to light diyas, candles on Sunday at 9 pm for 9 mins</a>

Additionally, each UberMedic car will be disinfected after every ride to ensure the highest possible safety and hygiene standards in line with government guidelines, the statement said.

"Uber is proud to partner with the National Health Authority to offer free UberMedic rides to transport frontline healthcare workers in specific locations for helping contain the spread of COVID-19. All drivers will be specially trained in safety procedures and provided with personal protective equipment including masks, sanitisers and disinfectants to sanitise UberMedic cars after each ride," Uber India and South Asia President Pradeep Parameswaran said.

With the implementation of the 21-day lockdown, the government has allowed only people in essential services like healthcare, banking and media to commute. Limited mobility options have made it difficult for these people to travel to their workplace.

Indu Bhushan, chief executive officer of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PMJAY) and National Health Authority, said the partnership with Uber in this hour of need is a much-needed initiative to extend necessary support to the healthcare workers who are leading this fight against COVID-19.

"Limited mobility options had made it difficult for frontline workers to travel to their workplaces which is the hospital. This initiative will further strengthen India's response to contain the spread of COVID-19," Bhushan added.&nbsp;

Ride-hailing platform Uber on Friday said it has partnered with the National Health Authority (NHA) to provide transport service to frontline healthcare workers in the country, who are engaged in the treatment of COVID-19 patients.

Ride-hailing platform Uber on Friday said it has partnered with the National Health Authority (NHA) to provide transport service to frontline healthcare workers in the country, who are engaged in the treatment of COVID-19 patients. Also read: No shortage of medical supplies to fight COVID-19 outbreak: Government Uber will initially facilitate the provision of 150 cars free of cost to support medical facilities in New Delhi, Noida, Ghaziabad, Kanpur, Lucknow, Prayagraj and Patna through its recently launched UberMedic service, according to a statement. All UberMedic cars supplied to NHA will be equipped with roof-to-floor plastic sheeting enclosing the driver's seat, thereby acting as a protective barrier between the rider and driver, it added. Also read: PM Modi urges citizens to light diyas, candles on Sunday at 9 pm for 9 mins Additionally, each UberMedic car will be disinfected after every ride to ensure the highest possible safety and hygiene standards in line with government guidelines, the statement said. "Uber is proud to partner with the National Health Authority to offer free UberMedic rides to transport frontline healthcare workers in specific locations for helping contain the spread of COVID-19. All drivers will be specially trained in safety procedures and provided with personal protective equipment including masks, sanitisers and disinfectants to sanitise UberMedic cars after each ride," Uber India and South Asia President Pradeep Parameswaran said. With the implementation of the 21-day lockdown, the government has allowed only people in essential services like healthcare, banking and media to commute. Limited mobility options have made it difficult for these people to travel to their workplace. Indu Bhushan, chief executive officer of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PMJAY) and National Health Authority, said the partnership with Uber in this hour of need is a much-needed initiative to extend necessary support to the healthcare workers who are leading this fight against COVID-19. "Limited mobility options had made it difficult for frontline workers to travel to their workplaces which is the hospital. This initiative will further strengthen India's response to contain the spread of COVID-19," Bhushan added.

Uber partners NHA to provide dedicated transport service to COVID-19 healthcare workers

The RBI has reduced the trading hours of debt as well as currency markets from Tuesday because of the lockdown following the outbreak of coronavirus.

The revised market timings will be effective during April 7-17, 2020, the central bank said in a circular on Friday.

The market will open at 10 am instead of the current 9 am and closing timings too have been revised to 2 pm for all segments.

The lockdown has adversely impacted the functioning of financial markets, the RBI said.

The market timings have been revised to "minimise these risks" and to ensure that market participants maintain adequate checks and supervisory controls while optimising thin resources and ensuring the safety of personnel, it said.

As per the circular, the timing of the Government Securities (Central Government Securities, State Development Loans and Treasury Bills) market has been revised to 10 am to 2 pm from the existing 9 am to 5 pm.

Foreign Currency (FCY)/Indian Rupee (INR) Trades including Forex Derivatives market as well as Rupee Interest Rate Derivatives market too have been changed to 10 am to 2 pm from the existing 9 am to 5 pm.

The RBI said the unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on the movement of people and non-essential activities, work from home arrangements and business continuity plans.

The resultant dislocations have adversely impacted the functioning of financial markets. Staff and IT resources have been severely affected, posing operational and logistics risks.

"The thinning out of activity is impacting market liquidity and increasing volatility of financial prices," the circular said.

However, all regular banking services for customers, including RTGS, NEFT, e-kuber and other retail payments systems will continue to be available as per extant timings, the RBI added.

The RBI has reduced the trading hours of debt as well as currency markets from Tuesday because of the lockdown following the outbreak of coronavirus. The revised market timings will be effective during April 7-17, 2020, the central bank said in a circular on Friday.

The RBI has reduced the trading hours of debt as well as currency markets from Tuesday because of the lockdown following the outbreak of coronavirus. The revised market timings will be effective during April 7-17, 2020, the central bank said in a circular on Friday. The market will open at 10 am instead of the current 9 am and closing timings too have been revised to 2 pm for all segments. The lockdown has adversely impacted the functioning of financial markets, the RBI said. The market timings have been revised to "minimise these risks" and to ensure that market participants maintain adequate checks and supervisory controls while optimising thin resources and ensuring the safety of personnel, it said. As per the circular, the timing of the Government Securities (Central Government Securities, State Development Loans and Treasury Bills) market has been revised to 10 am to 2 pm from the existing 9 am to 5 pm. Foreign Currency (FCY)/Indian Rupee (INR) Trades including Forex Derivatives market as well as Rupee Interest Rate Derivatives market too have been changed to 10 am to 2 pm from the existing 9 am to 5 pm. The RBI said the unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on the movement of people and non-essential activities, work from home arrangements and business continuity plans. The resultant dislocations have adversely impacted the functioning of financial markets. Staff and IT resources have been severely affected, posing operational and logistics risks. "The thinning out of activity is impacting market liquidity and increasing volatility of financial prices," the circular said. However, all regular banking services for customers, including RTGS, NEFT, e-kuber and other retail payments systems will continue to be available as per extant timings, the RBI added.

RBI reduces trading hours for debt, currency markets from April 7

Equity benchmark indices slipped further on Friday as banks and financial stocks dragged with investors expecting a deterioration in their asset qualities due to disruption in economic activity from the coronavirus outbreak.

At the closing bell, the BSE S&amp;P Sensex was down by 674 points or 2.39 per cent at 27,591 while the Nifty 50 slipped by 170 points or 2.06 per cent at 8,084.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/world-bank-approves-1-billion-emergency-fund-for-india-to-fight-coronavirus-290252" hreflang="en">World Bank approves $1 billion emergency fund for India to fight coronavirus</a>

Except for Nifty FMCG and pharma, all sectoral indices at the National Stock Exchange were in the red with Nifty private bank down by 5.4 per cent, IT and auto by 3 per cent each, and metal by 1.9 per cent.

Nifty pharma, however, rose by 4.7 per cent.Among stocks, private sector lender Axis Bank dropped by 8.8 per cent to Rs 326.90 per share while IndusInd Bank dipped by 8.3 per cent, ICICI Bank by 7.4 per cent and State Bank of India by 5.6 per cent.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/will-coronavirus-crisis-cost-your-paycheck-employment-290233" hreflang="en">Will coronavirus crisis cost your paycheck, employment?</a>

HDFC was down by 5.2 per cent to Rs 1,499.75 per share. The other major losers were Titan, Maruti, Asian Paints and Wipro.But Sun Pharma jumped by 9.5 per cent to Rs 376.45 per share while Cipla rose by 8.2 per cent.

ITC, GAIL, ONGC and Bharat Petroleum Corporation traded with a positive bias.Meanwhile, Asian markets were flat despite Wall Street's overnight gains after crude prices notched their biggest one-day surge on record.

Japan Nikkei crawled up by 0.01 per cent and South Korea's Kospi by 0.03 per cent while Hong Kong's Hang Seng slipped by 0.19 per cent and Shanghai composite by 0.6 per cent.

US stocks rallied after President Donald Trump said he expects Russia and Saudi Arabia to announce an oil production cut of up to 10 million to 15 million barrels as the two countries signalled a willingness to make a deal.

Saudi Arabia said it will call an emergency meeting of the Organisation of the Petroleum Exporting Countries, media reports said. 
&nbsp;

Equity benchmark indices slipped further on Friday as banks and financial stocks dragged with investors expecting a deterioration in their asset qualities due to disruption in economic activity from the coronavirus outbreak.

Equity benchmark indices slipped further on Friday as banks and financial stocks dragged with investors expecting a deterioration in their asset qualities due to disruption in economic activity from the coronavirus outbreak. At the closing bell, the BSE S&P Sensex was down by 674 points or 2.39 per cent at 27,591 while the Nifty 50 slipped by 170 points or 2.06 per cent at 8,084. Also read: World Bank approves $1 billion emergency fund for India to fight coronavirus Except for Nifty FMCG and pharma, all sectoral indices at the National Stock Exchange were in the red with Nifty private bank down by 5.4 per cent, IT and auto by 3 per cent each, and metal by 1.9 per cent. Nifty pharma, however, rose by 4.7 per cent.Among stocks, private sector lender Axis Bank dropped by 8.8 per cent to Rs 326.90 per share while IndusInd Bank dipped by 8.3 per cent, ICICI Bank by 7.4 per cent and State Bank of India by 5.6 per cent. Also read: Will coronavirus crisis cost your paycheck, employment? HDFC was down by 5.2 per cent to Rs 1,499.75 per share. The other major losers were Titan, Maruti, Asian Paints and Wipro.But Sun Pharma jumped by 9.5 per cent to Rs 376.45 per share while Cipla rose by 8.2 per cent. ITC, GAIL, ONGC and Bharat Petroleum Corporation traded with a positive bias.Meanwhile, Asian markets were flat despite Wall Street's overnight gains after crude prices notched their biggest one-day surge on record. Japan Nikkei crawled up by 0.01 per cent and South Korea's Kospi by 0.03 per cent while Hong Kong's Hang Seng slipped by 0.19 per cent and Shanghai composite by 0.6 per cent. US stocks rallied after President Donald Trump said he expects Russia and Saudi Arabia to announce an oil production cut of up to 10 million to 15 million barrels as the two countries signalled a willingness to make a deal. Saudi Arabia said it will call an emergency meeting of the Organisation of the Petroleum Exporting Countries, media reports said.

Sensex falls by 674 points, banking stocks plunge

Airlines in India are all set to resume flights post the <a href="https://www.wionews.com/india-news/coronavirus-cases-rise-to-2301-in-india-290314">lockdown</a> period, however, the issue of refunds for flights cancelled between March 25 and April 14 remains unresolved.&nbsp;

<a href="https://www.wionews.com/india-news/pm-modi-urges-citizens-to-light-diyas-candles-on-sunday-at-9-pm-for-9-mins-to-dispel-darkness-brought-by-coronavirus-290268">Also Read: PM Modi urges citizens to light diyas, candles on Sunday at 9 pm for 9 mins</a>

while passengers are demanding cash refunds for cancelled bookings during the lockdown period, airlines have refused to meet such request owing to cash shortage. Fliers have been left in the lurch with some airlines not even offering clarity on refunds.&nbsp;

The government suspended all domestic flights starting on March 25 midnight to curb the spread of coronavirus but for the passengers of airlines who had booked tickets to fly during the lockdown period, it is has hit them hard.&nbsp;

First, they can't travel to their hometowns or other destinations they had booked tickets to and second, the refund policies of airlines is resulting into heavy monetary losses.&nbsp;

Twitter is full of arguments between airlines and furious passengers as airlines are offering a reservation credit for the full amount which can be used to make another booking in future but the catch here is that a flier has to pay the fare difference for the future date ticket.&nbsp;

"I had to attend a conference this month in Goa. With the conference getting cancelled, my tickets are not going to be used now. I don't want a credit voucher as it is not sure I would be flying in future or not", said Sanjeet Kumar, a daily based businessman. &nbsp;

The confusion has multiplied with many fliers making bookings through travel agents or online travel portals. Fliers also complain about the call centre phone lines of airlines are constantly busy.&nbsp;

Indian carriers say there is little they can do on refunds as they are staring at a dark future and it is an existential crisis for the airlines.

The thumb rule generally is that if passengers cancel the bookings, they get back refunds, but airlines levy a cancellation charge, as high as 40-50 per cent, on the other hand if an airline cancels the flight, the passengers get a full refund.&nbsp;

Airlines insist this particular rule can't be applied during the lockdown period as it is beyond their control. &nbsp;

While the uncertainty over the status of scheduled flights due to the coronavirus outbreak looms large, most airlines seem helpless about the situation and are not waiving off the domestic flight cancellation charges.&nbsp;

"The cancellations of flights in this outbreak of COVID-19 is beyond the control of airlines as well as passengers. We have automatically extended the validity of bookings made before March 31, 2020 for travel up to April 30 to December 31, 2020. however, fare difference, if any, will apply", said a Vistara spokesperson explaining their policy.

Meanwhile, the government says there is little it can do as the domestic aviation industry is de-regulated and such a lockdown situation hasn't been witnessed before.

Airlines in India are all set to resume flights post the lockdown period, however, the issue of refunds for flights cancelled between March 25 and April 14 remains unresolved.

Airlines in India are all set to resume flights post the lockdown period, however, the issue of refunds for flights cancelled between March 25 and April 14 remains unresolved. Also Read: PM Modi urges citizens to light diyas, candles on Sunday at 9 pm for 9 mins while passengers are demanding cash refunds for cancelled bookings during the lockdown period, airlines have refused to meet such request owing to cash shortage. Fliers have been left in the lurch with some airlines not even offering clarity on refunds. The government suspended all domestic flights starting on March 25 midnight to curb the spread of coronavirus but for the passengers of airlines who had booked tickets to fly during the lockdown period, it is has hit them hard. First, they can't travel to their hometowns or other destinations they had booked tickets to and second, the refund policies of airlines is resulting into heavy monetary losses. Twitter is full of arguments between airlines and furious passengers as airlines are offering a reservation credit for the full amount which can be used to make another booking in future but the catch here is that a flier has to pay the fare difference for the future date ticket. "I had to attend a conference this month in Goa. With the conference getting cancelled, my tickets are not going to be used now. I don't want a credit voucher as it is not sure I would be flying in future or not", said Sanjeet Kumar, a daily based businessman. The confusion has multiplied with many fliers making bookings through travel agents or online travel portals. Fliers also complain about the call centre phone lines of airlines are constantly busy. Indian carriers say there is little they can do on refunds as they are staring at a dark future and it is an existential crisis for the airlines. The thumb rule generally is that if passengers cancel the bookings, they get back refunds, but airlines levy a cancellation charge, as high as 40-50 per cent, on the other hand if an airline cancels the flight, the passengers get a full refund. Airlines insist this particular rule can't be applied during the lockdown period as it is beyond their control. While the uncertainty over the status of scheduled flights due to the coronavirus outbreak looms large, most airlines seem helpless about the situation and are not waiving off the domestic flight cancellation charges. "The cancellations of flights in this outbreak of COVID-19 is beyond the control of airlines as well as passengers. We have automatically extended the validity of bookings made before March 31, 2020 for travel up to April 30 to December 31, 2020. however, fare difference, if any, will apply", said a Vistara spokesperson explaining their policy. Meanwhile, the government says there is little it can do as the domestic aviation industry is de-regulated and such a lockdown situation hasn't been witnessed before.

Airfare refund policy confuses passengers amid lockdown

Zoom's daily users ballooned to more than 200 million in March from a previous maximum total of 10 million, the video conferencing app's boss Eric Yuan said on Wednesday, as it fought to dispel concerns over privacy and "Zoombombing".

The use of Zoom and other digital communications have soared with political parties, corporate offices, school districts, organizations and millions across the world working from home after lockdowns were enforced to slow the spread of the coronavirus.

"To put this growth in context, as of the end of December last year, the maximum number of daily meeting participants, both free and paid, conducted on Zoom was approximately 10 million," founder and Chief Executive Officer Eric Yuan wrote in a letter to Zoom users on Wednesday.&nbsp;

Yuan said that Zoom usage has taken off over the last few weeks, with more than 90,000 schools across 20 countries, using its video conferencing services to conduct classes remotely.

However, the huge influx of users on its platform has raised a lot of issues for the company - mainly privacy.

"We recognize that we have fallen short of the community's – and our own – privacy and security expectations," Yuan said. "For that, I am deeply sorry."

On Monday, the Federal Bureau of Investigation's Boston office issued a warning about Zoom, telling users not to make meetings on the site public or share links widely after it received two reports of unidentified individuals invading school sessions, a phenomenon known as "zoombombing."

A couple of days later, billionaire Elon Musk's rocket company SpaceX banned its employees from using the Zoom app in a memo seen by Reuters, saying the app had "significant privacy and security concerns."

Yuan acknowledged the problems in his letter saying, "over the next 90 days, we are committed to dedicating the resources needed to better identify, address, and fix issues proactively."

Microsoft Corp's business-focused Teams was used by 1.56 million mobile users on Monday, while Slack had less than 500,000 mobile users.

Research firm Apptopia estimated that Zoom's daily US&nbsp;mobile user volumes rose to a record 4.84 million for the same day.

Shares of Zoom Video Communications Inc, which had been on a tear this year, have slipped over the last three days, as the company rushes to plug privacy issues plaguing its platform. The stock, which debuted last year at $36, closed down about 6% at $137 on Wednesday.

Zoom's daily users ballooned to more than 200 million in March from a previous maximum total of 10 million, the video conferencing app's boss Eric Yuan said on Wednesday, as it fought to dispel concerns over privacy and "Zoombombing".

Zoom's daily users ballooned to more than 200 million in March from a previous maximum total of 10 million, the video conferencing app's boss Eric Yuan said on Wednesday, as it fought to dispel concerns over privacy and "Zoombombing". The use of Zoom and other digital communications have soared with political parties, corporate offices, school districts, organizations and millions across the world working from home after lockdowns were enforced to slow the spread of the coronavirus. "To put this growth in context, as of the end of December last year, the maximum number of daily meeting participants, both free and paid, conducted on Zoom was approximately 10 million," founder and Chief Executive Officer Eric Yuan wrote in a letter to Zoom users on Wednesday. Yuan said that Zoom usage has taken off over the last few weeks, with more than 90,000 schools across 20 countries, using its video conferencing services to conduct classes remotely. However, the huge influx of users on its platform has raised a lot of issues for the company - mainly privacy. "We recognize that we have fallen short of the community's – and our own – privacy and security expectations," Yuan said. "For that, I am deeply sorry." On Monday, the Federal Bureau of Investigation's Boston office issued a warning about Zoom, telling users not to make meetings on the site public or share links widely after it received two reports of unidentified individuals invading school sessions, a phenomenon known as "zoombombing." A couple of days later, billionaire Elon Musk's rocket company SpaceX banned its employees from using the Zoom app in a memo seen by Reuters, saying the app had "significant privacy and security concerns." Yuan acknowledged the problems in his letter saying, "over the next 90 days, we are committed to dedicating the resources needed to better identify, address, and fix issues proactively." Microsoft Corp's business-focused Teams was used by 1.56 million mobile users on Monday, while Slack had less than 500,000 mobile users. Research firm Apptopia estimated that Zoom's daily US mobile user volumes rose to a record 4.84 million for the same day. Shares of Zoom Video Communications Inc, which had been on a tear this year, have slipped over the last three days, as the company rushes to plug privacy issues plaguing its platform. The stock, which debuted last year at $36, closed down about 6% at $137 on Wednesday.

Zoom pulls in more than 200 million daily video users during worldwide lockdowns