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The Indian Express May 13, 2020 A week after Indian and Chinese troops  came to blows in a disputed area  near Pangong Tso, a lake in eastern Ladakh, and IAF fighters took to the air, tensions remain high in the region. Troops on either side of the Line of Actual Control (LAC) have been on high alert though there has been “disengagement” after the incident on May 5-6 night near an area known as Finger 5 on the northern bank of Pangong Tso. The area under Indian control is manned by an infantry battalion but additional troops remain on alert for any contingency. The Chinese, sources said, too augmented their strength in the area once tensions rose late April. The Indian Army, on its part, has clarified that there is no build-up of troops in the area. Army PRO Colonel Aman Anand said Tuesday: “There is no continuing faceoff at Pangong Tso. There is no build-up of armed troops in the area.” The LAC cuts through Pangong Tso, with the 45-km long western portio...

The Telegraph May 13, 2020 Industrial output contracted tanked 16.7 per cent in March, a month marked by the nationwide lockdown in the last week.  Manufacturing slumped 20.6 per cent in the month, but worse still was capital goods, which fell 35.6 percent and consumer durables, which shrank 33.1 per cent. The sharp decline in the index of industrial production (IIP) in March followed a seven-month high growth of 4.5 per cent in February. IIP had grown 2.7 per cent in March, 2019. Prime Minister Narendra Modi had first announced the lockdown on March 24 at 8pm that took effect within four hours. According to National Statistical Office (NSO) data, manufacturing sector output fell 20.6 per cent compared with a growth of 3.1 per cent in the same month a year ago. Electricity generation declined 6.8 per cent against a growth of 2.2 per cent in March 2019. Mining sector output remained flat compared with a growth of 0.8 per cent earlier. The NSO, however, released the da...

Dawn May 12, 2020 WASHINGTON: The US Federal Bureau of Investigation and cybersecurity experts believe Chinese hackers are trying to steal research on developing a vaccine against coronavirus, two newspapers reported on Monday. The FBI and Department of Homeland Security are planning to release a warning about the Chinese hacking as governments and private firms race to develop a vaccine for Covid-19, the  Wall Street Journal  and  New York Times  reported. The hackers are also targeting information and intellectual property on treatments and testing for Covid-19. US officials alleged that the hackers are linked to the Chinese government, the reports say. The official warning could come within days. In Beijing Foreign Affairs ministry spokesman Zhao Lijian rejected the allegation, saying China firmly opposes all cyber attacks. “We are leading the world in Covid-19 treatment and vaccine research. It is immoral to target China with rumors and slanders...

The Telegraph 13 May, 2020 The central government did not release April retail inflation data on Tuesday as the nationwide lockdown prevented officials from collecting data from various centres. However, Consumer Price Index (CPI) data that could be collected by telephone has been released, the National Statistical Office (NSO) said in a release. Usually, data are collected from selected 1,114 urban markets and 1,181 villages through personal visits by field staff of the NSO. The data collected telephonically did show increase in prices of certain important commodities such as milk products, fruits and vegetables in April over March. However, the press release said, general CPI (consumer price inflation) and indices at State/UT level are not being released for April . In view of the nationwide lockdown and the spread of Covid-19, the collection of data on the prices for CPI through personal visits of price collectors was suspended with effect from March 19, the rele...

Dailyhunt 13 May, 2020 New Delhi: Doctors fighting a direct war against the Corona epidemic in the country's capital have written a letter to PM Narendra Modi for not getting salary for three months.  A union of doctors of hospitals under the North Delhi Municipal Corporation has written to the Prime Minister raising his voice for his salary. Lockdown: Police did this when MLA's brother roam on street The letter said that the doctors of North Delhi Municipal Corporation hospitals have not received their salaries for the last three months.  Link- https://m.dailyhunt.in/news/india/english/news%20track%20english-epaper-ntrack/doctors%20in%20delhi%20have%20not%20received%20salary%20for%20three%20months%20wrote%20to%20pm%20modi-newsid-n184080534?s=a&uu=0xc1d970f31fbabb&ss=wsp

Dailyhunt 13 May, 2020 Benchmark indices jumped in trade, despite weak global cues, as investors cheered the Rs 20 lakh crores economic package announced by the Prime Minister.  The Sensex was last seen trading higher by 962 points, as banking stocks led the rally. ICICI Bank, Axis Bank and HDFC Bank were among the big gainers in trade. Jubilant Lifesciences shares rallied after the Company signed a deal with Gilead for production of Remdesivir to fight COVID-19.  The shares were locked at the upper end of the circuit filter. Shares in Vedanta Ltd were trading 10 per cent higher after the promoter group of Vedanta Resources said it plans to acquire the fully paid-up shares of Vedanta Ltd that are held by public shareholders to facilitate a delisting.  Link-  https://m.dailyhunt.in/news/india/english/oneindia-epaper-oneindia/economic%20package%20impact%20sensex%20surges%201000%20points-newsid-n184265094?s=a&uu=0xc1dc2970f31fbabb&ss=wsp

Dailyhunt New Delhi, May 13, 2020 The much awaited financial package of Rs 20 lakh crore will be revealed by Finance Minister, Nirmala Sitharaman later today. The package is expected to have more funding for Mudra loans that are meant for small businesses.  To ensure that small businesses are not started of a working capital, the Finance Ministry also has floated a proposal for the Cabinet to guarantee fresh working capital limits to small units through the National Credit Guarantee Trustee Company. The current bank exposure to the MSMEs is estimated at around Rs 15 lakh crore.  Link- https://m.dailyhunt.in/news/india/english/oneindia-epaper-oneindia/msme%20to%20be%20the%20big%20focus%20in%20govts%20rs%2020%20lakh%20crore%20package-newsid-n184287804?s=a&uu=0xc1dc2970f31fbabb&ss=wsp

Dawn May 13, 2020 BEIJING: China suspended punitive tariffs on more US goods including radar equipment for aviation Tuesday amid pressure from President Donald Trump to buy more imports as part of a truce in their trade war. The Ministry of Finance said tariff increases on 79 types of goods including radar sets, disinfectant and rare earths minerals would be suspended for one year starting May 19. Washington agreed in January to cancel additional tariff hikes and Beijing committed to buy more American farm exports. US officials said China agreed to address complaints about its technology policies. Trump threatened May 3 to terminate the agreement if China fails to buy more American goods. Trump said earlier that Beijing agreed to buy $200 billion of American farm goods and other exports. China resumed purchases of American soybeans but has yet to confirm the size of its commitment. Trumps threat rekindled fears in financial markets of more US-Chinese conflict and potenti...