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Covid 19 Updates Last updated: May 7, 2021, 06:19 GMT

Confirmed

156,681,524

Recovered

134,042,630

Deaths

3,269,340

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Targeting Asia-Pacific defence, Australia to spend $580 mln on military upgrades

(REUTERS) - Australia will spend A$747 million ($580 million) to upgrade four northern military bases and expand war games with the United States, Prime Minister Scott Morrison said on Wednesday.

In an announcement t
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EU lawmakers debate Brexit accord before decisive vote

After years of negotiations and lingering, in December as Britain ended 47 years of EU membership, the EU lawmakers debated the post-Brexit trade agreement between the European Union and Britain for the last time on Tuesda
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Tesla's Elon Musk qualifies for $11 billion options payout

On Monday Tesla got qualified for  two options payouts worth a combined $11 billion, as its quarterly report qualified the target.

As its first-quarter revenue and profit, was increased by record deliveries and
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New U.S. credit benchmarks gain traction as Libor deadline approaches

Even as the push for an alternative called the Secured Overnight Financing Rate (SOFR), it is expected that the new U.S. bank credit benchmarks would gain traction in the coming months as the deadline to phase out exposure
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Bitcoin tumbles below $50,000, other cryptos sink over Biden tax plans

As reports of U.S. President Joe Biden's plan to raise capital gains taxes, which is going to reduce the investment in digital assets, Bitcoin and other cryptocurrencies posted sharp losses on Friday.

According to th
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Climate activists target Lloyd's of London insurance market

On Friday, climate activists protested outside the Lloyd’s of London Insurance market, dumping a load of fake coal outside the headquarters, accusing it of insuring fossil fuel mining. 

The activists dumped th
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Oil drops as coronavirus cases surge in Asia

On fears that the country might impose restrictions as coronavirus infections and deaths soar, oil fell by $1, as India is the third-biggest oil importer.

There has been a steady rise in the oil prices expecting a re
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Capital Calls: SXSW’s partial savior

As per the Wall Street Journal, South By Southwest an arts-and-tech festival is selling a 50% stake to Rolling Stone publisher Penske Media. This provides the Texas-based hipster confab with a lifeline and enough evidence
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China’s market regulator investigates Alibaba-Minmetals JV

On Monday Minmetals reported that China's market regulator is investigating a joint venture between e-commerce giant Alibaba Group and Minmetals Development, which comes amid a broad clampdown on internet firms. 

<
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GameStop loses CEO in latest management shakeup

The biggest shakeup that happened at the video game retailer, recently seems to have forced George Sherman, the CEO to step down, giving more control to Ryan Cohen, who is looking to shift the focus to e-commerce.  readmore...

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Razorpay raises $160 million in Series E, bringing valuation to $3 Billion

Harshil Mathur, the CEO of Razorpay stated that in a round led by Sequoia India and GIC with participation from Ribbit Capital & Matrix Partners India, it has raised $160M, at a valuation of $3B. He said that the funds
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China's economy grows 18.3% in post-Covid comeback

Post Covid, the Chinese economy has grown a record 18.3% in the first quarter of 2021, which is the biggest jump in the GDP since 1992. However, the Friday figures are below expectations with economists predicting 19% grow
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India to spend $200 mln in next 5-7 years to promote hydrogen use

Indu Shekhar Chaturvedi, the top bureaucrat at India's Ministry of New and Renewable Energy, on Thursday stated at a virtual industry event that the country will be spending $200 million in a span of next 5-6 years to prom
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China fines Alibaba billions for alleged market abuses

According to the Xinhua news agency, the state administration for market regulation had recently concluded an investigation into Alibaba that started in December, and has fined the company 18.2bn yuan (US$2.78bn) for carry
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UK's Johnson launches mass testing programme as economy reopens

On Monday British Prime Minister Boris Johnson stated that all the citizens will be able to take the Covid-19 test twice a week, in a new drive to track the pandemic. He stated that the new mass testing will help curb the
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Dollar hits one-year high versus yen as inflation worries lift yields

On Tuesday, the dollar rose to a one-year high against the yen in between a spike in Treasury yields, as boosting inoculations and massive stimulus in the U.S. stoked inflation concerns.

The safe-haven greenback also
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Suez blockage sets shipping rates racing, oil and gas tankers diverted away

Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have almost doubled this week, and several vessels were directed away from the vital waterway as a giant container ship remained jammed in
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China, U.S. demand drive German manufacturing 'explosion' - Ifo economist

The business climate in both the services and manufacturing sectors in Germany has advanced significantly, Ifo economist Klaus Wohlrabe had stated on Friday, with manufacturing “exploding” due to firm demand from China
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World shares rebound as investors weigh economy against diplomacy

On Friday, global shares rebounded, with Asian stocks recovering from a three-month low, as investors targeted more on hoping about the global economic recovery than soaring tensions in the middle of West and China.


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Russia's Sovcombank buys Vostochny from U.S. investor Calvey's firm, others

Russia’s Sovcombank has made an agreement to purchase Vostochny Bank which is the small lender that was at the centre of the country’s biggest corporate dispute involving foreign investors for more than a decade.

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Chinese tech stocks fall as U.S. SEC begins rollout of law aimed at delisting

Shares in dual-listed Chinese companies crashed on Thursday in Asia after the U.S. securities regulator had adopted measures that would kick foreign companies out of American stock exchanges if they fail to obey U.S. audit
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Bank lending to fossil fuel industry down 9% in COVID-hit year

The world’s largest banks cut lending to fossil fuel firms by 9% in 2020 due to the pandemic, although funding has still soared over the past five years, as per the report on Wednesday.

The 60 largest banks had giv
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EU leaders to tell Turkey that trade talks can go ahead, the draft statement says

The European Union is all set to deepen trade ties with Turkey but will continue the threat of economic sanctions if Ankara moves in opposition to the bloc’s interests, as per the draft statement to be agreed by EU leade
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Fresh travel warning for Britons hits airline stocks

Britons were alerted not to book summer holidays abroad by government ministers as COVID-19 cases in some parts of Europe grew, bringing travel and airline stocks down by nearly 8% on Monday.

Foreign holidays are cur
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Lamborghini's profits soar during Covid

After a two-month shutdown of its Italian factory during the pandemic, Lamborghini had its most profitable year ever in 2020.

Stephan Winkelmann., the Chief Executive, said that the company was surprised, as the sale
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Greece opens books on the 30-year bond, sees 17 billion euros of demand

Greece earned 17 billion euros of demand for its recent 30-year bond issue, it was its first such sale in over a decade, as it keeps the progression of its return to the markets after three bailouts during the eurozone deb
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Dollar stays firm on Monday market

The U.S. dollar was firm on Monday after bouncing off one-week low in the last week. This was supported by a spike in the benchmark Treasury yields to more-than-one-year highs. Bitcoin reached a record high of $60,000 mark
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US remains top arms exporter and grows market share

Global share of arms export of the US has risen to 37% during the past five years, according to a Sweden-based research institute.

The increased exports by the US, France and Germany were balanced by declining Russia
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African economies likely to rebound 3.4% this year, AfDB says

African economies are expected to demonstrate progress by an average of 3.4% in this year, as per the African Development Bank, as the continent recovers from its worst contraction in half a century.

The 54 economies
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Swiss bank Rahn+Bodmer in U.S. settlement over clients defrauding IRS

Rahn+Bodmer, a Zurich private bank will give $22 million to settle U.S. criminal allegations it assisted American taxpayers who were exiting accounts at UBS and other Swiss banks and covering up hundreds of millions of dol
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Coupang debuts at over $100 billion

Coupang, SoftBank Group Corp-backed organization was valued at $109 billion in its debut in the market on Thursday. Coupang’s stock rose to 81% and opened at $63.50. The company sold 130 million shares at $35 per sh
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Brent crude eases but stays near $70 as demand optimism lends support

 Brent crude prices were relieved on Friday but hovered nearly around $70 per barrel as production cuts by leading oil producers strained the supply, with optimism about recovery on demand for the resource in the late
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ECB signals faster money-printing to keep a lid on yields

On Thursday, the European Central Bank announced that it was all set to accelerate money-printing to keep a lid on eurozone borrowing costs, signalling to sceptical markets it was all set to put a strong base for a solid e
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Oil prices rise on the economic outlook with a drawdown in fuel stocks

On Thursday, crude oil prices rose due to the  rollout of vaccines which supported the economic outlook and the U.S. fuel stocks dropped sharply, although gains were capped by growth in crude oil inventories after the
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Dow hits record high as inflation fears recede after data

The blue-chip Dow index hits a high record on Wednesday after mild consumer prices data for February relieved concerns about a spike in inflation and increased bond yields.

Increased vaccine rollouts and a monster fi
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Analysis: With $1,400 stimulus checks set to hit bank balances, stocks could benefit

President Joe Biden’s chunk of coronavirus relief package is poised to end up in the stock market and could give a boost for GameStop and other stocks accommodated by individual investors active on online social med
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Oil prices are higher on Wednesday

After stumbling down for straight two sessions, Oil prices ticked higher on Wednesday. The investors are looking up to the U.S. crude inventories data for the rest of the day to see where this could lead to. The Brent crud
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Bitcoin surges higher, narrows gap to record high

On Tuesday, Bitcoin ramped up strongly, on a continuous growth for the fifth day, which left the cryptocurrency within touching distance of an all-time high hit the previous month.  This digital currency was gaining u
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Wall Street rises as tech sell-off eases; U.S. Senate passes stimulus bill

On Monday the S&P 500 and the Dow had risen, which was led by stocks poised to be benefitted the most from an economic rebound, as the U.S. Senate processed the $1.9 trillion COVID-19 relief package. While the heavywei
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Panasonic to buy Blue Yonder for $6.5 billion in the biggest deal since 2011: Nikkei

Panasonic Corporation is also known as the Matsushita Electric Industrial Co. Ltd. founded by Kōnosuke Matsushita in 1918, is a major, headquartered in Kadoma, will purchase U.S. software firm Blue Yonder for
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Oil, travel stocks boost European shares

Catching up with a Friday rally on Wall Street, European shares rose on Monday, the oil majors like Royal Dutch Shell and BP jumped, as their prices increased drastically according to reports of attacks on Saudi Arabian fa
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Deliveroo launches London IPO after business surges in 2020

Deliveroo, the British food delivery firm, declared plans for its London listing on Monday, revealing that it had narrowed its basic loss in the year 2020 to 223.7 million pounds ($308.93 million).

The Deliveroo IPO
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Asian shares going down as U.S. dollar rose to a three-month high

Asian stocks on Friday slued as U.S. dollar rose to a three-month high. The Japanese currency has been hence pulled down to an eight-month trench. In Friday morning trade, Australian stocks went down 1%, Seoul market fell
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Jio and Airtel might gain market shares due to spectrum acquisitions 

With the strong of footprints of Reliance Jio and Bharti Airtel in the spectrum auctions ending recently, it is expected that these two will reap sufficient market share gains. The scenario as predicted should provide the
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U.S. Stock futures scaled up on Wednesday; good news for investors

This morning the stock price of Dow futures rose to 179 points. Nasdaq 100 futures and S&P 500 futures also traded in positive territory. This Tuesday, Dow Jones Industrial Average suffered a loss of 143 points and the
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Oil Prices Fall due to deep freeze

Oil prices dropped in early trade on Wednesday after an industry report showed U.S. crude inventories surprisingly rose last week as a deep freeze in the southern states subdued demand from refineries that were ordered to
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South African Finance Minister Tito Mboweni is all set to deliver the country’s 2021 budget 

South African Finance Minister Tito Mboweni is all set to deliver the country’s 2021 budget on February 24th,  Mboweni had called on the public to forward comments and suggest on the economic conditions and oth
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Indonesia has again raised its economic recovery budget to $49 billion

The ongoing COVID-19 pandemic has a profound adverse impact on Indonesia’s economy, puts pressure on the fiscal sector, and threatens achieved gains in development outcomes.

GDP growth in 2020 is projected to
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Britain inflation fires up!!!

Britain inflation goes up in January as locked-down users paid more for food and sellers of furniture and other household goods.
The annual 0.7% rise in consumer costs is demanded to meet in the coming months - pushed u
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Nikkei Index jumps to 30000 after a long time 

Japanese shares hiked on Monday to close at over 30-year high on increasing assumptions for a revival in economic growth.

Nikkei index ended up 1.91% at 30,084.15, re-establishing the psychologically critical 30,000
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Google makes $76 million deal with French news publication 

Google has agreed to pay $76 million over three years to a group of 121 French news publisher group APIG to end a more than year-long copyright feud.

The pact between Google and the Alliance de la Presse d’inf
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Global fuel price rises as Asia, U.S. to rev up demand 

Global oil and fuel prices are picking up as demand returns to pre-pandemic levels amid easing coronavirus lockdowns in key countries like China and India and signs of increasing road travel in several countries.

Gas
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European shares track Wall Street's plunge

European markets going down on Wednesday, as Wall Street’s retreat from record highs dragged Europe down from an early rise on profitable earnings reports from various firms including SocGen that fed confidence arou
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Indian Indexes dipping as investors take-home profits after a continuous rally 

Sensex and Nifty fell today as lot investors sold high-profitable stocks after a record-setting rally last week, with declines in Reliance Industries and banking stocks weighing the most.

India’s main stock in
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Oil Prices climbs up in the US


Oil prices advanced on Tuesday to their highest in 13 months, as supply cuts by major producers and optimism over a recovery in fuel demand support energy markets.


Brent crude futures for April gained 50 cent
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British Petroleum risk wasting $400 billion as energy transition speeds up

LONDON- National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental org
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Brazilian state-led company Petrobras is in talks to sell the Polo Urucu to Eneva

The state-owned Brazilian Multinational Corporation Petrobras to sell the Polo Urucu gas field and infrastructure to Eneva as a part of its divestment decide to enhance stability.
Petrobras owns 100% of the Polo Urucu,
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5G Will Have A Profound Effect On The UK Economy

A new report from PwC suggests that the adoption of 5G technology by the UK economy could be worth up to  Â£43 billion to their GDP  by 2030.

To maximize economic growth opportunity, the UK should aim to
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Indian Railways takes decisive steps to transform itself as ‘Net Zero’ Carbon Emission Mass Transportation Network by 2030

India’s transport sector contributes to 12% of the country’s GHG emissions [Biennial Update Report to UNFCCC 2018], with railways accounting for about 4 percent of that. To reduce overall emissions from trans
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India inked a strategic partnership agreement with the International Energy Agency (IEA)

India’s achievements in the energy sector in recent years have been outstanding. Led by Prime Minister Shri Narendra Modi and his ministers, the Government of India is implementing reforms towards a secure, affordab
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Jayati Ghosh is among 20 prominent personalities appointed by the United Nations to a high-level advisory board

The United Nations Department of Economic and Social Affairs (UNDESA) announced that the 20 "prominent personality, globally renowned for its intellectual leadership in the economic and social fields, the second United Nat
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Argentina GDP saw a revenue drop of 0.7 percent leading to deficit

The COVID-19 pandemic increased the economic pressure on the Argentina government, even as the government's early lockdown successfully slowed transmission. 
When the pandemic first hit, Argentine officials took ra
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Will the synergy between Jio and Facebook help to realise the goal of 'Digital India'

Partnership between Facebook and Jio Platforms seems promising on making India the world�s leading Digital Society to offer innovative new solutions in growing the business and to create new employment opportunities u
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Domestic Equity Market Benchmarks BSE Sensex and Nifty 50 settling at fresh high record

Sensex closed at 47,868.98 up 117.65 +0.25%, while Nifty ended 36.75 points or 0.26% higher at 14,868.50. Indian Share Markets hit fresh record high today, boosted by Auto and IT Stocks. This sustainable move could open fu
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BITCOINS ARE MAKING A MARK IN THE WORLD ECONOMY

For hundreds of years, gold has dominated the safe-haven asset arena, while bitcoin was launched just over a decade ago and has only achieved widespread recognition in the last few years.
World's biggest crypto currency
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ARTICLE- MACROECONOMY- INTERNATIONAL ECONOMY-Global Economic Output is projected to grow by 4% in 2021

Following the devastating health and economic crisis caused by COVID-19, the global economy appears to be emerging from one of its deepest recessions and beginning a subdued recovery.
Investment, in particular, collapse
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V shaped economy recovery is the result of government's Economic Stimulus and Easy Money Policy

Effective policies are essential to forestall worse outcomes. Economic policies will also need to cushion the impact of the decline in activity on people, firms, and the financial system; reduce persistent scarring effects
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