COVID second wave, lockdowns threaten Q1 growth: UBS : Bulletin: Business Today
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COVID second wave, lockdowns threaten Q1 growth: UBS

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Rashi Bisaria | May 5, 2021

COVID second wave, lockdowns threaten Q1 growth: UBS

With the second wave of the pandemic and the resultant localised lockdowns pulling down economic activity in April, Swiss brokerage UBS on Tuesday said this will impact the first quarter GDP to some extent. The UBS India activity indicator, which is a measure of a complex set of real-time economic activity numbers, fell 7 percentage points to 95 last month.

Foxconn, Wistron, Dell, Lava and 15 other firms apply for PLI investments

Apple's contract manufacturers Foxconn and Wistron, computer firm Dell and domestic company Lava are among the 19 companies that have applied for investments under the production linked incentive scheme for IT hardware manufacturing, the Ministry of Electronics and IT said on Tuesday. According to the ministry, the scheme is expected to lead to total production worth around Rs 1.6 lakh crore.

South India's N440K COVID variant 15 times more lethal

Amid the already raging COVID-19 second wave in India, a new variant of SARS-CoV-2 - 'N440K' - has been discovered in many parts of the country. Scientists at the Centre for Cellular and Molecular Biology (CCMB) have found that lineages with N440K are not the dominant ones in the second wave of COVID pandemic in the country. CCMB scientists discovered the new coronavirus variant, which is believed to be at least 15 times more lethal than the earlier ones.

Oxygen crisis: Show cause why contempt action should not be taken, says Delhi HC to Centre

The Delhi High Court on Tuesday asked the Centre to show cause as to why contempt action should not be taken against it for violating the court's order on supply of medical oxygen to the national capital. The court said the Centre has not been supplying 700 MT of oxygen as per the Supreme Court's order or 490 MT as per the High Court's order to Delhi. The court asked the Centre to supply 700 MT of oxygen immediately to Delhi.

Modi-Johnson virtual summit: Britain finalises new trade, investment with India worth 1 bn pounds

Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK. Britain and India announced 1 billion pounds ($1.39 billion) of private-sector investment and committed to seek a free trade deal as Prime Minister Boris Johnson hailed a new era in bilateral relations.

Govt approves 5G trials; to be conducted in urban, semi-urban, rural areas

The Telecom Department on Tuesday gave permission to telecom service providers (TSPs) to conduct trials for use and application of 5G technology. The Telecom Department has granted the permissions as per the priorities and technology partners identified by TSPs themselves. The duration of the trials, at present, is for a period of six months.

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