A Bulletin of Seven Big Stories From Around The World Every Day
Highlights! 7@7 – Markets, Pandemic, US-Iran Tensions and RBI’s Plan for Yes Bank
- Coronavirus Pandemic – Europe Becomes Epicentre, US Declares National Emergency
- US Retaliates With Missile Strikes, Kill 6 In Iraq – Tension Rises In The Region
- Citizenship Amendment Act – Arvind Kejriwal Strikes Back. No NPR/ NRC In Delhi
- Sinking Global Stock Markets Gasp Back To Life Post History Selling Spree
- Yes Bank Crisis – ₹ 3100 Crores Total Investment Under RBI’s Reconstruction Plan
- Cure for Coronavirus – Human trials could begin ‘within a few weeks in the US’
- Hotstar Rolls Back Disney+ Within 24 Hours Of Releasing It – Social Media Unimpressed
Coronavirus Pandemic – Europe Becomes Epicentre, US Declares National Emergency
The COVID-19 Coronavirus Pandemic has Europe in shackles with more reported cases and deaths that the rest of the world combined, leaving aside China.
World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus stated that Europe has a severe Coronavirus situation with more number of cases per day that China’s number at the outbreak’s peak.
United States President Donald Trump has declared a National Emergency, directing every medical facility in the world’s richest country to gear up to curb the outbreak. POTUS also pledged up to $ 50 Billion to fight the pandemic.
Elsewhere, 18 African countries now have reported cases. With 1.3 billion people, India stands at more than 80 reported cases and 2 deaths. The global toll of the coronavirus pandemic is now at over 132,000 reported cases and about 5,000 deaths. Track the Coronavirus pandemic live here.
US Retaliates With Missile Strikes, Kill 6 In Iraq – Tension Rises In The Region
In retaliation of a rocket barrage that killed 3, the US launches precision airstrikes against an Iranian-backed militia Kata’ib Hizbollah in Iraq, killing 6.
The US said its targets included “housed weapons” that are “used to target U.S. and coalition troops”. Pentagon explained the strikes as “defensive, proportional and in direct response to the threat posed by Iranian-backed Shia militia groups”.
The US airstrikes reportedly killed 6 people. The series of attacks from each side spark fresh tension between the US and Iran. Earlier, Trump’s withdrawal from landmark nuclear and reinstation of sanctions had heightened tensions which reached all-time volatility after the US assassination of Iranian top military leader Maj. Gen. Qassem Soleimani.
Citizenship Amendment Act – Arvind Kejriwal Strikes Back. No NPR/ NRC In Delhi
Chief Minister Arvind Kejriwal-led Delhi became the latest state to pass a resolution against the new National Population Register Exercise.
Kejriwal also urged PM Modi’s government to “withdraw the exercise”. The Delhi CM said, “there is fear and panic writ-large in the society about NRC”.
Delhi now joins 10 other states like Kerala, Punjab and Rajasthan in opposing the controversial Citizenship Amendment Act (CAA). The passage of the law sparked widespread protests, clashes between Anti-CAA protesters and right-wing groups.
However, the BJP government seems to have relented to the protests, as made out from Home Minister Amit Shah’s latest address in the Parliament.
Sinking Global Stock Markets Gasp Back To Life Post History Selling Spree
Global bloodbath saw some relief as markets made a comeback after days of hysterical selling.
The global stock markets bouncing back is a direct result of world leaders getting serious about the Coronavirus pandemic and its economic impact. US’ S&P 500 opened with a gain of 5%, France’s CAC 40 rose 8.3%, Germany’s DAX up 7.6%, and Australia’s S&P/ASX 200 shut 4.4% higher after a 7% bear run.
Among Asian economies, Japan’s Nikkei 225 (N225) saw its worst plunge since Nov 2016, closing 6% below. South Korea’ Kospi (KOSPI) plunged 3.4%. Hong Kong’s Hang Seng Index (HSI) was down 1.1% and China’s Shanghai Composite (SHCOMP) fell 1.2% lower. India’s S&P BSE Sensex grew 4.4% after a 9% plunge early in the day which forced a halt in trading as the value breached the lower circuit.
The volatile global economy is a direct result of the disruption of global supply chains that are on the verge of a total shut down. Global central banks will be looked towards to ease the stress in the markets. Asia will see several central bank meetings in the coming week.
Yes Bank Crisis – ₹ 3100 Crores Total Investment Under RBI’s Reconstruction Plan
As part of RBI’s reconstruction plan for crisis-hit Yes Bank, HDFC, Axis Bank, ICICI Bank and Kotak Mahindra Bank announced a total investment of ₹ 3100 cr.
ICICI Bank and HDFC, during the Friday filing, announced an investment of 1000 crores each entitling them for a 5 per cent excess shareholding in Yes Bank. Axis Bank and Kotak Mahindra also announced an investment up to ₹ 600 crores and ₹ 500 crores respectively.
Finance Minister, Nirmala Sitharaman informed, “the moratorium will be lifted within three-days after the notification of reconstruction scheme for Yes Bank.” Yes Bank’s Board was superseded by RBI on March 5 and put the lender under moratorium limiting the cash withdrawals to ₹ 50,000 per account till April 3, 2020.
Cure for Coronavirus – Human trials could begin ‘within a few weeks in the US’
You might have heard that the search for cure of the novel Covid-19 might take up to a year and a half.
But did you know a traditional vaccines timeline is 15-20 years?
As per CNBC, in the race against time, scientists and researchers are skipping the traditional animal testing route and within six weeks will start clinical testing on Humans.
In the US, the health officials are accelerating research on the coronavirus cure. By using the strains of coronavirus, biotech company Moderna is working along The National Institutes of Health to develop a vaccine. Scientists at NIH are ‘working on non-clinical research parallel’ while participants for the clinical trial started recruiting in the first week of March.
Hotstar Rolls Back Disney+ Within 24 Hours Of Releasing It – Social Media Unimpressed
Under less than 24-hours of creating buzz in India, OTT platform Hotstar rolls back Disney+ services in India.
The new Disney+ Hotstar was rolled back along with the new blue UI by the company with another update. Social media users didn’t take the surprise kindly as tweets pointing out the ‘missing content’ started trending on the microblogging site Twitter.
A quick search showed shows like ‘The Mandalorian’ showed up however premier content like ‘The World According to Jeff Goldblum’ was missing.
The streaming network had previously clarified that the release was for a small number of consumers for apps beta version testing. The original launch of the application in India stays intact to March 29.