India becomes world's sixth largest economy, muscles past France

Agencies
July 11, 2018

Paris, Jul 11: India has become the world's sixth-biggest economy, pushing France into seventh place, according to updated World Bank figures for 2017.

India's gross domestic product (GDP) amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France.

The country's economy rebounded strongly from July 2017, after several quarters of slowdown.

India, with a population of around 1.34 billion, is poised to become the world's most populous nation, whereas the French population stands at 67 million. This means that India's per capita GDP continues to amount to just a fraction of that of France which is still roughly 20 times higher, according to World Bank figures.

Manufacturing and consumer spending were the main drivers of the Indian economy last year, after a stutter blamed on demonetisation and implementation of Goods and Services Tax (GST).

India has doubled its GDP within a decade and is expected to power ahead as a key economic engine in Asia, even as China slows down.

According to the International Monetary Fund (IMF), India is projected to generate growth of 7.4 per cent this year and 7.8 per cent in 2019, boosted by household spending and a tax reform.

This compares to the world's expected average growth of 3.9 per cent.

The London-based Centre for Economics and Business Research, a consultancy, said at the end of last year that India would overtake both Britain and France this year in terms of GDP, and had a good chance to become the world's third-biggest economy by 2032.

At the end of 2017, Britain was still the world's fifth-biggest economy with a GDP of $2.622 trillion.

The US is the world's top economy, followed by China, Japan and Germany.

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Agencies
March 8,2020

Panic gripped big tech firms like Facebook and Twitter which decided to close their offices from Seattle to London as more employees tested positive for the new coronavirus.

Facebook shut its three London offices till Monday after an employee was diagnosed with COVID-19.

The social networking giant told nearly 3,000 employees in London to work from home after an employee, who is based in Singapore but visited the London offices between February 24-26, was diagnosed with the new coronavirus, Sky News reported on Friday.

"An employee based in our Singapore office who has been diagnosed with COVID-19 visited our London offices on February 24-26.

"We are therefore closing our London offices until Monday for deep cleaning and employees are working from home until then," the company said in a statement.

There have been 163 cases of coronavirus so far in the UK.

Earlier, Facebook recommended all its Bay Area employees in the US to work from home. The latest precautions come after San Francisco announced its first two coronavirus cases on Thursday.

Facebook has also shut its Seattle office until Monday after one of its contractors was confirmed to be infected with the virus. The infected contractor last visited the Facebook office on February 21. King County health officials said all Facebook sites should work from home until March 31.

Twitter shut its Seattle office for a 'deep clean' after an employee developed COVID-19 like symptoms though final result was still awaited.

"A Seattle-based employee has been advised by doctor about likely COVID-19, though still awaiting the final testing," Twitter said in a tweet on Friday.

"While the employee has not been at a Twitter office for several weeks and hasn't been in contact w/others, we're closing our Seattle office to deep clean," the company added.

According to The Seattle Times, at least 14 people have died due to COVID-19 in Washington State till date.

Amazon, Microsoft, Google and Facebook have advised their employees in Washington State to work from home.

Apple has reportedly suggested its employees at California campuses to work from home as an "extra precaution" while new coronavirus cases spread on the west coast in the US, especially Seattle area.

Apple's flagship developers' conference WWDC 2020 in June is also at the risk of getting cancelled as the Santa Clara public health department has warned against large public gatherings. The event draws nearly 5,000 developers from across the world.

The US death toll from the new coronavirus has climbed to 14, according to Johns Hopkins' tracker, with 329 cases reported across the country.

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News Network
May 25,2020

Islamabad/Dhaka, May 25: The coronavirus pandemic and lockdowns coupled with travel restrictions and social distancing norms have muted the Eid celebrations in Pakistan and Bangladesh as worshippers in the two Muslim-majority countries marked the end of Ramzan in strictly-regulated prayer congregations.

A large number of people in the two countries were forced to stay indoors on the occasion of Eid al-Fitr, marking the end of the fasting month of Ramzan, due to the fears of contracting the novel coronavirus which has killed nearly 3.5 lakh people and infected over 5.4 million across the world.

In Pakistan, the government has issued strict instructions to observe social distancing while offering Eid prayers and asked people to avoid visiting relatives and hosting parties.

As the railways remained closed, many people could not travel to their hometowns for the most important festival.

Eid congregations were held at open places, mosques and Eidgahs in all major cities and towns while following strict standard operating procedures (SOPs) of social distancing and other precautionary measures. But in some areas, the people did not adhere to the SOPs and were seen thronging to their favourite shops to celebrate Eid.

Pakistan Prime Minister's Special Assistant on Health Zafar Mirza on Friday said the deadly infection would continue to multiply if precautions are not taken.

Earlier this month, the government announced the lifting of the countrywide lockdown imposed to curb the spread of the COVID-19 in phases, even as infections continued to rise in the country.

Pakistan's coronavirus cases on Monday reached 56,349 with 1,748 new patients while the death toll climbed to 1,167 after 34 people lost their lives in the last 24 hours.

The trajectory showed that the number was steadily going up with authorities fearing a rise in cases in the wake of the easing of lockdown before Eid.

But Prime Minister Imran Khan cited the economic havoc the virus restrictions had wreaked on citizens as the reason behind the decision to ease the restrictions.

He urged Pakistanis to forgo the traditional Eid festivity in view of the hundreds of fatalities caused by the coronavirus and the lives lost in Friday's plane crash in Karachi.

Ninety-seven people, including nine children, were killed and two passengers miraculously survived a fiery crash when a Pakistan International Airlines plane with 99 travellers on board plunged into a densely populated residential area near the Jinnah International Airport.

Most of the victims were travelling home to celebrate Eid.

In Bangladesh, millions of Muslims joined the strictly-regulated prayer congregations across the country.

Thousands of worshippers attended the prayer services at the Baitul Mukarram National Mosque in Dhaka while following the health and social distancing protocols to limit the spread of the coronavirus, bdnews24.com reported.

Despite the government directive for children and senior citizens not to participate in Eid prayers, many children and people aged over 60 attended the Eid prayers. Although social distancing rules were maintained to a large extent, people were seen flouting the norms, the report said.

As per the government order, no Eid congregation will be held in an open space, but people can perform the Eid prayers in mosques. However, everyone coming to the mosques for prayer must wear a mask, follow social distancing and other hygiene rules, said Islamic Foundation Secretary Kazi Nurul Islam.

On Sunday, Bangladesh reported 28 new fatalities, the highest single-day increase, bringing the death toll to 480.

The number of coronavirus cases in the country rose to 33,610 after 1,532 people tested positive on Sunday.

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News Network
May 20,2020

May 20: The novel coronavirus is behaving differently in patients in northeast China who have contracted it recently compared with early cases, indicating it is changing as it spreads, a prominent doctor said.

China, which has largely brought the virus under control, has found new clusters of infections in the northeastern border provinces of Jilin and Heilongjiang in recent weeks, raising concern about a second wave.

Qiu Haibo, an expert in critical care medicine who is part of a National Health Commission expert group, said the incubation period of the virus in patients in the northeast was longer than that of patients in Wuhan, the central city, where the virus emerged late last year.

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"This causes a problem, as they don't have any symptoms. So when they gather with their families they don't care about this issue and we see family cluster infections," Qiu told state broadcaster CCTV in a programme broadcast late on Tuesday.

Patients in the northeastern clusters were also carrying the virus for longer than earlier cases in Wuhan, and they were taking longer to recover, as defined by a negative nucleic acid test, he said.

Patients in the northeast also rarely exhibited fever and tended to suffer damage to the lungs rather than across multiple organs, he said.

He said the virus found in the northeastern clusters was probably imported from abroad, which could account for the differences.

He did not say where he though they might have come from but both Jilin and Heilongjiang border Russia.

China reported five new coronavirus cases on Wednesday, down from six a day earlier.

Four of the new cases were local transmissions and one was imported by a traveller coming from abroad, the commission said in a statement, compared with three imported cases reported the previous day.

China's total number of coronavirus infections stands at 82,965, while the death toll 4,634. 

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