Stock markets tumble, rupee down; investors lose Rs 6 trn

Jan 22: Microsoft Corp’s chief executive officer said he worries that mistrust between the US and China will increase technology costs and hurt economic growth at a critical time.

Using the $470 billion semiconductor industry as an example of a sector that is already globally interconnected, Satya Nadella said the two countries will have to find ways to work together, rather than creating different supply chains for each country.

“All you are doing is increasing transaction costs for everybody if you completely separate,” Nadella said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at Bloomberg’s The Year Ahead conference in Davos. That’s a concern as the executive said the world is on the cusp of a revolution around technology and artificial intelligence.

“If we take steps back in trust or increase transaction costs around technology, all we are doing is sacrificing global economic growth,” he said.

The agreement signed last week between the US and China was “not sufficient,” said Nadella, but represented “progress” on the issue of intellectual property protections for US technology companies working with China.

Nadella said he worries about the development of two separate internets, noting that to some degree they already exist “and they will get amplified in the future” with massive technology companies already in place in China.

The viewpoint clashes with Microsoft co-founder Bill Gates, who has been sceptical about the idea that ongoing US-China trade tensions could ever lead to a bifurcated system of two internets.

China and the US are the two leading AI superpowers, however the cooling political relations between them have slowed the international collaboration.

Nadella also warned that countries that fail to attract immigrants will lose out as the global tech industry continues to grow. The CEO has previously voiced concern about India’s Citizenship Amendment Act, calling it “sad.”

“However, Nadella said he remained hopeful.

“The fact that there is a 70-year history of nation-building, I think it’s a very strong foundation. I grew up in that country. I’m proud of that heritage. I’m influenced by that experience.”

New Delhi, May 28: BJP national spokesperson Sambit Patra has been admitted to a private hospital in Gurgaon after he showed symptoms of COVID-19, sources said.

He is admitted to the Medanta hospital in Gurgaon, hospital sources said on Thursday.

The BJP leader has shown symptoms of COVID-19, a source said.

Patra is one of the most visible BJP faces on news channels.

He is also very active on social media and posted several tweets on Thursday as well.

New Delhi, Jun 17: With an increase of 10,974 new cases and 2,003 deaths in the last 24 hours, India's COVID-19 count reached 3,54,065 on Wednesday while the toll due to the virus stands at 11,903.

This includes 1,55,227 active cases and 1,86,935 cured, discharged and migrated patients, according to the Union Health Ministry.

While the spike in the number of cases has stayed below the 11-thousand mark, the death toll has increased manifold today as compared to the 380 death reported on Tuesday.

Maharashtra with 1,13,445 cases continues to be the worst-affected state in the country with 50,057 active cases while 57,851 patients have been cured and discharged in the state so far. The toll due to COVID-19 has crossed the five thousand mark and reached 5,537 in the state.

It is followed by Tamil Nadu with 48,019 and the national capital with 44,688 confirmed cases.