Will Yuvraj Singh bid goodbye to international cricket soon?

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.

Sydney, Feb 21: Leg-spinner Poonam Yadav bowled a magical spell in her comeback game to steer India to a comfortable 17-run win over defending champions Australia in the opening match of the Women's T20 World Cup on Friday.

Put in to bat, India struggled to a below par 132 before Poonam (4/19 in 4 overs) foxed the Aussies with her googlies, turning the match decisively into her team's favour.

Australia, who have won the competition four times in six editions, were all out for 115 in 19.5 overs

"A bowler like Poonam is someone who leads from the front. We were expecting a great comeback from her. Our team is looking nice, earlier we depended on two-three players," India skipper Harmanpreet Kaur said after the match.

Poonam, who missed the preceding tri-series due to a hand injury, also got good support from other bowlers including pacer Shikha Pandey.

The 28-year-old from Agra was on a hat-trick but narrowly missed out as wicketkeeper Taniya Bhatia dropped a difficult chance.

The tournament-opener saw a record 13,000 plus attendance with a sizeable chunk supporting India.

India next play against Bangladesh in Perth on February 24.

"It was great for me to come back from injury and perform like this. It was the third time that I was on a hat-trick but satisfied that I was able to do the job for the team," said Poonam at the post-match presentation.

Australia were off to a good start to their chase with opener Alyssa Healy making a 35-ball 51, laced with six boundaries and a six.

However, Indian spinners led by Poonam triggered a collapse as Australia suddenly slipped to 82 for six.

Poonam (4/19) snapped four wickets, two in successive deliveries in the 12th over, to break the back of Australia's chase.

Ashleigh Gardner (34 off 36) tried her bit but didn't get any support from the other end.

Earlier, India squandered a flying start to end up with a below-par total.

Sixteen-year-old Shafali Verma took India to 40 for no loss in four overs with a typically aggressive 29 off 15 balls but her fall derailed the innings as the other batters disappointed.

Deepti Sharma made a composed 46-ball 49 in the second half of the innings but the firepower that India needed in the death overs was badly missing.

India were cruising initially with Shafali taking the opposition to the cleaners, hitting five fours and a six.

However, left-arm spinner Jess Jonassen (2/24) snapped two quick wickets, Smriti Mandhana (10 off 11) and Harmanpreet (2 off 5) to reduce India to 47 for three.

Deepti then shared 53 runs with Jemimah Rodrigues (26 off 33) to bring up the 100 in the 16th over.

For Australia, Ellyse Perry (1/15) and Delissa Kimmince (1/24) were the other wicket-takers.

Beijing, Feb 3: The first batch of patients arrived on Monday at a specialised hospital built in just 10 days as part of China's intensive efforts to fight a new virus.

Huoshenshan Hospital and a second facility with 1,500 beds that's due to open this week were built by construction crews who are working around the clock in Wuhan, the city in central China where the outbreak was first detected in December.

The Wuhan treatment centres mark the second time Chinese leaders have responded to a new disease by building specialised hospitals almost overnight. As severe acute respiratory syndrome, or SARS, spread in 2003, a facility in Beijing for patients with that viral disease was constructed in a week.

The first batch of patients arrived at the Huoshenshan Hospital at 10 am on Monday, according to state media. The reports gave no details of the patients' identities or conditions.

The ruling Communist Party's military wing, the People's Liberation Army, sent 1,400 doctors, nurses and other personnel to staff the Wuhan hospital, the official Xinhua News Agency said. The government said earlier some have experience fighting SARS and other outbreaks.

Authorities have cut most road, rail and air access to Wuhan and surrounding cities, isolating some 50 million people, in efforts to contain the viral outbreak that has sickened more than 17,000 and killed more than 360 people.

The Huoshenshan Hospital was built by a 7,000-member crew of carpenters, plumbers, electricians and other specialists, according to the Xinhua News Agency.               Photos in state media showed workers in winter clothing, safety helmets and the surgical-style masks worn by millions of Chinese in an attempt to avoid contracting the virus.

About half of the two-storey, 600,000-square-foot building is isolation wards, according to the government newspaper Yangtze Daily. It has 30 intensive care units.

Doctors can talk with outside experts over a video system that links them to Beijing's PLA General Hospital, according to the Yangtze Daily. It said the system was installed in less than 12 hours by a 20-member "commando team" from Wuhan Telecom Ltd.

The building has specialised ventilation systems and double-sided cabinets that connect patient rooms to hallways and allow hospital staff to deliver supplies without entering the rooms.

The hospital received a donation of "medical robots" from a Chinese company for use in delivering medicines and carrying test samples, according to the Shanghai newspaper The Paper.

In other cities, the government has designated hospitals to handle cases of the new virus.

In Beijing, the Xiaotangshan Hospital built in 2003 for SARS is being renovated by construction workers. The government has yet to say whether it might be used for patients with the new disease.