KL Rahul, Manish Pandey Bag Bumper Indian Premier League Deals

New Delhi, Mar 12: No foreign player will be available for this year's IPL till April 15 due to visa restrictions imposed by the government to contain the novel coronavirus threat, a top BCCI source told PTI on Thursday, casting fresh doubts on the fate of the event.

"The foreign players who play in the IPL come under the Business Visa category. As per the government's directive, they can't come till April 15," a BCCI source told PTI on conditions of anonymity.

The government issued fresh advisory with a ban on all existing foreign visas, except a few categories like diplomatic and employment, till April 15 in the wake of new positive cases of novel coronavirus in the country.

India has reported 60 positive cases in the outbreak which has led to over 4,000 deaths globally.

The fate of the IPL itself will be decided on March 14 at the event's Governing Council meeting in Mumbai. "All decisions will be taken by the GC in Mumbai," the source said.

Having the IPL, starting March 29, played in empty stadiums is an option being explored.

Mar 21: India’s economy, already in the grip of a slowdown, is in for more pain after Prime Minister Narendra Modi appealed to citizens to stay at and work from home to curb the coronavirus outbreak.

The services sector, which accounts for about 55% of India’s gross domestic product, is poised to be the worst hit after Modi, in a late evening address on Thursday, urged citizens to go on a self-imposed curfew for a day and private companies to allow employees to work from home for longer. In the country’s vast informal sector, social-distancing measures could mean a dent to productivity and consumption because of job or pay losses.

“The impact of a partial lock-down or social distancing will be significant,” said Rahul Bajoria, a senior economist at Barclays Plc in Mumbai. “If there’s a widespread community outbreak, GDP could fall as low as 3.5% in the year starting April 1.”

Shrinking output may limit growth in an economy that’s already set to expand at an 11-year low of 5% in the current year to March 31. Before the virus outbreak, India had forecast growth to recover to 6%-6.5% in the next fiscal year. S&P Global Ratings and Fitch Ratings have already slashed their growth forecast by 50 basis points.

“The current social-distancing measures will severely impact airlines, hotels, malls, multiplexes, restaurants and retailers,” according to analysts at Crisil Ltd., the local unit of S&P Global. “Lower footfalls and occupancies, decline in business volume and sub-optimal operating efficiencies will impact cash flows of companies in these sectors,” wrote the analysts led by Chief Economist Dharmakirti Joshi.

The government will try to announce a relief package for virus-affected sectors as early as possible, Finance Minister Nirmala Sitharaman said Friday.

In a televised address, Modi advised all citizens to stay at home for a day on March 22, as he sought to stem the spread of the coronavirus -- cases of which are relatively low in India at about 200, compared with more than 200,000 infected people globally. His government also barred incoming flights for a week from that day, joining a growing list of countries effectively sealing their borders.

What Bloomberg’s Economists Say

We had only earlier this week lowered our GDP outlook to consider the direct impact of the local outbreak as confirmed virus cases exceeded 100 as of March 15 and the federal and state governments announced social distancing measures that have already started to crimp economic activity. We are now revising down our GDP estimate for 4Q fiscal 2020 to 3.3%, from our 3.5%.

-- Abhishek Gupta, India economist

For more, click here

“Consumption being the biggest component of GDP, a lock-down is bound to have a big impact on the economy,” said Devendra Kumar Pant, chief economist at India Ratings and Research, the local unit of Fitch. “Modeling uncertainty in any system will be very difficult, but one can say the slowdown could deepen or prolong further.”

Work From Home

While companies, including billionaire Mukesh Ambani-controlled Reliance Industries Ltd., are asking employees to work from home, the option isn’t feasible in India’s vast informal sector.

“The option to work remotely simply won’t exist for most,” said Shilan Shah, an economist with Capital Economics Pte. in Singapore.

As many households don’t have savings buffers, the government would probably have to back this up with large-scale cash handouts that reach the poorest, he said.

Work from home is posing implementation challenges for the manufacturing sector where workers are required to be physically present at the production sites. The services sector, such as banking and information technology, also needs employees to be present in offices as confidential data is used, according to industry group Federation of Indian Chambers of Commerce and Industry.

Atlanta, Jan 9: Top tennis stars like Roger Federer, Rafael Nadal, and Serena Williams will be playing an exhibition match to raise funds for Australia's bushfire relief.

Apart from these three, Naomi Osaka, Nick Kyrgios and Stefanos Tsitsipas have also confirmed their availability for the match, CNN reported.

The match will be played on January 15 at Melbourne's Rod Laver Arena. The Australian Open Rally for Relief will be donating the proceedings from the ticket sales to the bushfire relief efforts.

Tennis star Maria Sharapova had also announced on Wednesday that she had left 10 signed pairs of her tennis shoes in her Brisbane hotel that members of the public could buy with a donation to the Australian Red Cross.

"Brisbane, I have signed ten pairs of my tennis shoes, left them at the @BrisbaneTennis
desk at the Westin Hotel, alongside a donation envelope for fire rescue efforts.They're yours to keep,we just ask you to donate AUD 300 a pair. All money going directly to Red Cross," Sharapova tweeted.

Earlier, former Australian spinner Shane Warne on Monday had announced to auction his Baggy Green cap to raise funds for victims of devastating bushfires in Australia.

Taking to Twitter, Warne made the announcement and posted a statement.

"The horrific bushfires in Australia have left us all in disbelief. The impact these devastating fires are having on so many people is unthinkable and has touched us all. Lives have been lost, homes have been destroyed and over 500 million animals have died too," Warne wrote.

"Everyone is in this together and we continue to find ways to contribute and help on a daily basis. This has led me to auction my beloved baggy green cap (350) that I wore throughout my Test career," he added.

Warne joined a growing list of cricketers to raise money for the bushfire victims. Australian players Chris Lynn, Glenn Maxwell and D'Arcy Short have already announced that they will donate AUD 250 each for every six they hit in the ongoing Big Bash League (BBL) to support bushfire victims.

Athletes from other sports too joined the movement as tennis stars Maria Sharapova and Novak Djokovic decided to donate 25,000 dollars each for Australia's bushfire relief fund.

Wildfires have been raging across Australia for months, killing 23 people, burning about 6 million hectares (23,000 square miles) of bushland and killing a billion animals.

Naval and air rescue operations were launched on Friday as mass evacuations of towns at risk of being engulfed by flames got underway.b