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Firstpost March 13, 2020 1.Amid intensifying rout in global financial markets, the 30-share BSE Sensex plummeted 2,919.26 points or 8.18 percent to end at 32,778.14 2.The carnage on Dalal Street eroded investor wealth worth Rs 11.27 lakh crore, taking the total market capitalisation (m-cap) to Rs 125.86 lakh crore on the BSE 3.Traders said incessant foreign fund outflows also weighed on the markets Investor wealth worth over Rs 11 lakh crore was wiped off on Thursday as stocks crashed amid a global equity selloff after the World Health Organization declared the coronavirus outbreak a pandemic. Amid intensifying rout in global financial markets, the 30-share BSE Sensex plummeted 2,919.26 points or 8.18 percent to end at 32,778.14. The carnage on Dalal Street eroded investor wealth worth Rs 11,27,160.65 crore, taking the total market capitalisation (m-cap) to Rs 1,25,86,398.07 crore on the BSE. The m-cap of BSE-listed companies stood at Rs 1,37,13,558.72 crore...

Businessline March 10 2020 By  CD Mayee/Bhagirath Choudhary The Green Revolution introduced sturdier crop plants that could support heavier grain load without the lodging resulting from the intensive use of fertilisers, pesticides and other inputs. This, unfortunately, left farmers believing more is better — be it seed, fertiliser or pesticide. It had, therefore, become necessary to have regulations in place for the use of inputs in agriculture, and pesticides were thus regulated through the Insecticide Act, 1968. The focus of the Act was on pest management through sustainable agricultural practices, keeping in view the broader policy framework of integrated pest management, where the use of pesticides was considered an integral component. Pesticides have helped increase food production and ensure the nation’s food security. Their use has helped in keeping the crops free of pests, increasing the overall yield and allowing better storage of the harvest. The protect...

Dailyhunt March 12, 2020 Equity benchmark Sensex crashed over 2,700 points and the broader Nifty sank below 9,700 (intra-day) on Thursday, wiping off over Rs 9 lakh crore worth investor wealth, after WHO declared COVID-19 a pandemic, spiking fears of a global economic recession. After opening around 1,200 points lower, equities continued their downward spiral, with domestic BSE Sensex plummeting 2,707.39 points to 32,990.01 in morning session. The 30-share index was trading 2,267.21 points, or 6.35 per cent, lower at 33,430.19 at 1230 hours. Similarly, the broader NSE Nifty hit a low of 9,648.65, cracking 809.75 points. It was trading 658.55 points, or 6.30 per cent, down at 9,799.85. The rupee plunged up to 82 paise to 74.50 against US dollar in morning session. It, however, pared some losses, quoting 46 paise down at 74.14. The carnage on Dalal Street eroded investor wealth worth Rs 9,15,113 crore, taking the total m-cap to Rs 1,27,98,444.93 crore on the B...

Dailyhunt March 13, 2020 Iran's foreign minister demanded Thursday that the United States immediately halt what he called a "campaign of economic terrorism" and lift sanctions, saying they have made it increasingly difficult for the country to export oil and virtually impossible to import medicine and medical equipment, including to identify and treat coronavirus patients. Mohammad Javad Zarif said in a letter to U.N. Secretary-General Antonio Guterres that U.S. sanctions have also left thousands of Iranians stranded abroad and severely disrupted air links with Europe. And he said they have led to what he called "Google's immoral censoring" of a new government app designed to help Iranians identify potential symptoms of the COVID-19 virus. He said it is "imperative" that the government of the United States immediately halt its campaign of economic terrorism against the Iranian people and lift all sanctions it has illegally imposed on ...

Dailyhunt March 13, 2020 The United States is conducting retaliation airstrikes against Iran-backed militias in response to the fatal rocket attack on Camp Taji in Iraq that killed three coalition troops, Fox News reported citing a US military source. Washington [US], Mar 13 : The United States is conducting retaliation airstrikes against Iran-backed militias in response to the fatal rocket attack on Camp Taji in Iraq that killed three coalition troops, Fox News reported citing a US military source. The military official said on Thursday (local time) that the US is targeting multiple locations used by Iran-backed Shia militias in Iraq and along the Syrian border, according to Fox News. The US-led coalition forces said that more than 15 small rockets hit Iraq's Taji military base, which hosts its troops, spokesperson Myles Coggins said in a statement on Wednesday. Two Americans and one British personnel were killed in the attack. Reference:  https://m.d...

The Indian Express March 13, 2020 Even as the Sensex crashed 2,919 points and the rupee fell below the 74 level, the Reserve Bank of India on Thursday decided to undertake a six-month $2 billion US dollar sell/buy swaps to provide liquidity to the foreign exchange market, following “a review of current financial market conditions and taking into consideration the requirement of US dollars in the market”. The move comes at a time foreign investors have pulled out Rs 13,500 crore from the markets in the last three sessions. The RBI also said it is closely and continuously monitoring the rapidly evolving global situation and spillovers. “It stands ready to take all necessary measures to ensure that the effects of the COVID-19 pandemic on the Indian economy are mitigated, and financial markets and institutions in India continue to function normally. The level of forex reserves at $487.24 billion as on March 6, 2020 remains comfortable to meet any exigency,” the RBI said. ...

The Indian Express March 13, 2020 The World Health Organization (WHO) declared the COVID-19 outbreak a pandemic. What is a pandemic? Simply put, a pandemic is a measure of the spread of a disease. When a new disease spreads over a vast geographical area covering several countries and continents, and most people do not have immunity against it, the outbreak is termed a pandemic. It implies a higher level of concern than an epidemic, which the US Centers of Disease and Control Prevention (CDC) defines as the spread of a disease in a localised area or country. There is no fixed number of cases or deaths that determine when an outbreak becomes a pandemic. The Ebola virus, which killed thousands in West Africa, is an epidemic as it is yet to mark its presence on other continents. Other outbreaks caused by coronaviruses such as MERS (2012) and SARS (2002), which spread to 27 and 26 countries respectively, were not labelled pandemics because they were eventually contained....

Indian Express March 13. 2020 After over two years of dramatic back and forth, the US and Taliban signed a deal on February 29 to re-establish peace in the war-torn country. This deal — which could potentially put an end to America’s longest war — includes a timeline for the conditional and phased withdrawal of US troops from Afghanistan, themes for intra-Afghan negotiations and the Taliban’s commitment to not fuel terrorrism in the region. Representatives from India, the US, UN, Pakistan, the Taliban and Afghanistan were part of this gathering. All US and NATO troops will be withdrawn from Afghanistan within 14 months should the “militants” uphold the deal. The deal is not a full-fledged peace treaty but merely a pre-agreement; a way to get the Taliban and the Afghan government together at the negotiating table. The Afghan government and the Taliban are now expected to talk and fix things themselves. As per the agreement, the US will reduce its forces in Afghanistan to...

The Telegraph March 13, 2020 The RBI on Thursday announced a dollar sell/buy programme that will provide banks the much needed foreign exchange to stem the freefall of the rupee that has plummeted to a 17-month low of Rs 74.28 at the end of the day on account of the global panic caused by the coronavirus pandemic. The central bank under the swap programme will sell dollars to banks and buy them after six months. The swaps will be conducted through the auction route in multiple tranches. The auctions will be multiple price based — successful bids will be accepted at their respective quoted premiums.The first auction of $2 billion will be held on Monday. ”On a review of current financial market conditions and taking into consideration the requirement of dollars in the market, it has been decided to undertake 6-month dollar sell/buy swaps to provide liquidity to the foreign exchange market,” the RBI said in a statement. The swap will be in the nature of a simple se...

BusinessLine March 11, 2020 Trade Ministers of both countries, who met last month, are working on what they can offer each other. India is exploring workable components of a possible free trade agreement with Australia, following the visit of Australian Trade Minister Simon Birmingham to New Delhi last month, when he discussed the advantages of forging such a pact with his Indian counterpart Piyush Goyal. “Australia already knows about many of our red lines which include dairy and certain agricultural products and seems ready to accept them. That makes it easier for us to negotiate an FTA,” an official said. The formal decision to launch negotiations for an FTA — officially known as Comprehensive Economic Cooperation Agreement (CECA) — between India and Australia will be taken after both sides go through what each is ready to offer the other, in a series of video-conference meetings. “India and Australia both are working on what they can offer each other. Once...