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May 18: Risk managers expect a prolonged global recession as a result of the coronavirus pandemic, a report by the World Economic Forum showed on Tuesday.

Two-thirds of the 347 respondents to the survey - carried out in response to the outbreak - put a lengthy contraction in the global economy top of their list of concerns for the next 18 months.

Half of risk managers expected bankruptcies and industry consolidation, the failure of industries to recover and high levels of unemployment, particularly among the young.

“The crisis has devastated lives and livelihoods. It has triggered an economic crisis with far-reaching implications and revealed the inadequacies of the past," said Saadia Zahidi, managing director of the World Economic Forum.

Environmental goals risk being discarded as a result of the pandemic, the report said, but governments should try to carve out a "green recovery".

"We now have a unique opportunity to use this crisis to do things differently and build back better economies that are more sustainable, resilient and inclusive," Zahidi said.

The report was compiled by the World Economic Forum’s Global Risks Advisory Board together with Marsh & McLennan Companies Inc and Zurich Insurance Group.

Risk managers were surveyed between April 1 and 13.

Beijing, Feb 6: The number of confirmed fatalities from China's coronavirus outbreak rose to at least 560, after authorities in hardest-hit Hubei province reported 70 new deaths on February 6.

In its daily update, the health commission in Hubei also confirmed the number of confirmed infections in the outbreak has reached 28,018 nationwide with 3,694 new cases reported.

The epidemic, which has spiralled into a global health emergency, is believed to have emerged in December from a market that sold wild game in Hubei's capital Wuhan.

Hu Lishan, an official in Wuhan, warned Wednesday that despite building a hospital from scratch and converting public buildings to accommodate thousands of extra patients, there was still a "severe" lack of beds in the region.

There was also a shortage of "equipment and materials," he told reporters, adding that officials were looking to convert other hotels and schools in the city into treatment centres.

Authorities in several other cities in China have placed restrictions on the number of people allowed to leave their homes.

Global concerns have also risen about the virus, with cases confirmed in more than 20 countries.

Mumbai, Jul 16: Poet-activist Varavara Rao has tested positive for Covid-19. The 80-year old, named as accused in the Elgar Parishad case, was shifted to state-run JJ Hospital from Taloja central jail where he was lodged after he complained of dizziness. The hospital conducted tests including one for Covid-19 the results for which confirmed that he is positive.

Dr Ranjit Mankeshwar, the dean of JJ Hospital said, “He has shown no symptoms of Covid-19 so far. He has no breathing difficulty and is stable. We will soon shift him to a Covid hospital.” Rao is likely to be shifted to St George hospital.

Last week, Rao’s family had held a press conference after receiving a call from him from prison. His family had then said that his condition was deteriorating and he should be provided immediate medical aid. He was earlier shifted to the hospital when he fell unconscious in jail in May but was discharged within three days. The family had said that he was not provided proper medical treatment.

Last month, a special court had rejected his interim bail plea where he had cited his susceptibility to the virus due to his age and other medical conditions. The court, however, had said the superintendent of prison has been directed to take appropriate measures in such cases where medical attention is required. Before he was shifted to the hospital on Tuesday, Rao was admitted to the hospital ward of the jail and as he had been unable to do basic chores without depending on other inmates.

An appeal against the special court’s order is pending before the Bombay High Court. The plea is likely to be heard tomorrow.