Covid-19 impact: GDP to contract 16.5% in first quarter, says SBI report

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Research has projected (GDP) contraction at 16.5 per cent in the first quarter of 2020-21, against a 30 per cent decline estimated earlier.


It attributed the revision mainly to smaller gross value added (GVA) degrowth by listed companies for the quarter.



Group Chief Economic Advisor Soumya Kanti Ghosh said in principle revenue decline of listed companies had been far outstripped by cost rationalisation, thereby not impacting margins. The worrying part of the story is that there has been a rapid surge in Covid cases in the rural heartland. The numbers for Q1 are slated to be released by this month end.


Facebook faces mounting attack from parties; says it prohibits hate speech

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on Monday faced a mounting attack with the and the CPI(M) insisting on a probe by a joint parliamentary committee over the Wall Street Journal’s report that it refused to apply rules to certain politicians even as the social media giant asserted that its policies are enforced globally without regard to political affiliation.


The alleged that Facebook’s “inaction” against hate content “destabilises democracy” in India and that it was applying different rules for different countries which was “unacceptable”.


In the midst of controversy, Ankhi Das, a senior executive in India, filed a police complaint, alleging she has been receiving “threats to her life” and that she was intentionally “vilified” following publication of the report.


After leader Shashi Tharoor, who heads the Parliamentary Standing Committee on Information Technology, said the panel would like to hear from about the report, a Delhi Assembly panel also said it will summon Facebook officials, including Das , over complaints of “deliberate and intentional inaction to contain hateful content” in India.


In its reaction, Facebook said the company’s social media platform prohibits and content that

Sudan Protests Mark One Year Since Post-Bashir Deal

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Sudanese protestors in the capital Khartoum on Monday called for “justice” and “peace” as they marked the one-year anniversary of a transitional government following the ouster of long-time autocrat Omar al-Bashir.

Large crowds marched through the government district of the capital Khartoum, some burning tyres, before police fired tear gas to break them up, an AFP journalist said.

Clashes erupted at the end of the rally when an adviser to Prime Minister Abdallah Hamdok came out to collect a letter written by the demonstrators, who demanded that the head of the government receive it personally.

“We came to demonstrate to put pressure on the government to speed up the reforms, because after a year, we’re not satisfied,” said Mohammad Omar, a 20-year-old student.

“The police use tear gas against us when it’s our right to demonstrate. It’s unacceptable.”

Bashir, currently on trial over the military coup that brought him to power, was overthrown by the army on April 11, 2019 after a wave of mass protests against his three-decade, iron-fisted rule.

On August 17, 2019, after weeks of intense negotiations, the military rulers and protest leaders signed a “constitutional declaration” under which a sovereign council of six civilians and five

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