Month: March 2020

Railway Ministry has planned to electrify the remaining broad gauge routes on the network by the month of December 2023 Indian Railways bets big on electrification and renewable energy! The Indian Railways network will be completely electrified soon as Piyush Goyal-led Railway Ministry has planned to electrify the remaining broad gauge routes on the network by the month of December 2023.…

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Hong Kong (CNN)Factories were shuttered and streets were cleared across China’s Hubei province as authorities ordered residents to stay home to stop the spread of the coronavirus.It seems the lockdown had an unintended benefit — blue skies.The average number of “good quality air days” increased 21.5% in February, compared to the same period last year, according to China’s Ministry of Ecology…

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The Government of Pakistan (GoP) and Independent Power Producers (IPPs) have reportedly reached an agreement to resolve prolonged outstanding issues and litigation at different domestic and international fora, sources close to CEO CPPA-G told Business Recorder. Sharing the background, the sources said that pursuant to the Prime Minister’s directive for the resolution of issues with IPPs several meetings were held between…

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Crude oil prices fell further today, with WTI prices falling to 18-year lows, after the Energy Information Administration’s latest weekly inventory report that estimated a 2-million-barrel build for the week to March 13. The agency reported that at 453.7 million barrels, crude oil inventories in the United States were 3 percent below the five-year average for this time of the year. Analysts…

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The markets can’t seem to catch a break, with the Dow dropping below 20,000 points for the first time since 2017 as the coronavirus crisis continues to fuel a massive stock selloff despite governments across the world scrambling to inject some relief into the global economy. Oil, for its part, is also feeling the sting, with WTI falling to $23.27 and Brent falling…

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Time Square is known as New York City’s, USA, as one of the sleeping areas, which usually attracts more than 330,000 visitors daily, as it has become completely deserted after the city is completely closed, which includes theaters and restaurants with the aim of preventing the deadly coronavirus. Cafés, bars, and cinemas have been closed since yesterday at 8 pm…

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New Zealand has announced that it will allocate 7.3 billion dollars to support New Zealanders and the economy from the global impact of the “emerging coronavirus”. Finance Minister Grant Robertson – in a statement said on Tuesday, “The epidemic will have a major impact on the country’s economy, and that The package aims to reduce this impact, as 302 million dollars will…

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Goldman Sachs Group Inc. and Morgan Stanley economists joined the rush on Wall Street to declare that the coronavirus has triggered a global recession, with the debate now focusing on its likely length and depth. A day after President Donald Trump conceded the U.S. slump alone is set to be “a bad one,” economists threw away their forecasts that the world could avoid…

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India has closed its main tourist attraction, Taj Mahal, while the country’s prominent economic center has been instructed in works that do not provide basic services to keep half of its domestic workforce as part of anti-Corona virus measures in South Asia. Mumbai, with a large population of 18 million, has also been permitted by hospitals and airport authorities to…

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Travel bans. Sporting events cancelled. Mass gatherings prohibited. Stock markets in freefall. Deserted shopping malls. Get ready for the Covid-19 global recession. Up until a month ago this seemed far-fetched. It was assumed that the coronavirus outbreak would be a localised problem for China and that any spillover effects to the rest of the world could be comfortably managed by a bit of policy…

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