Coronaviruses are a large family of viruses that are known to cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS).
A novel coronavirus (COVID-19) was identified in 2019 in Wuhan, China. This is a new coronavirus that has not been previously identified in humans.
Source: Who.int
The posts in this section are related to the news and updates on corporate action, employer actions, and related developments in the economy due to the epidemic.
Private banking company Kotak Mahindra Bank recently announced that the group’s leadership team has unanimously and voluntarily opted to take a 15% cut in compensation for the financial year 2020-21. The Managing Director of the bank, Uday Kotak has personally opted to forgo his salary, and will receive Re 1/- as compensation. The bank in…
The novel coronavirus outbreak has put brakes on the global economy. The once highly interconnected world has now imposed travel bans and countries have gone into a lockdown. Businesses are closed and employees are now asked to work from home. But the remote working concept is only limited to certain kinds of jobs. The manufacturing…
Coronavirus pandemic has put the entire planet under lockdown leading to shutdown of operations across industries. The shutdown has left hundreds and thousands of daily wage workers or temporary/contractual workers unemployed in these times. They are the ones who are struggling to make ends meet. In order to help them sustain under lockdown, Sony Pictures…
The coronavirus pandemic has hit the global economy worse than the 2008 financial crisis. Industry experts predict that the impact of the pandemic will last longer than a year. Some industry bodies are also estimating that the pandemic would cost upto 2.5mn jobs globally. Worst-hit among all sectors of the economy, is the small scale…
The coronavirus pandemic has now started to impact the world economy to another level. The novel virus outbreak, which was once considered to be China’s “internal problem”, has now become a global headache. The World Health Organization has now termed the outbreak as “pandemic”, forcing governments to act on war footing to combat the disease…
The airline industry globally is suffering the most due to the coronavirus pandemic. The novel coronavirus, which first originated in China, has now spread to almost every corner of the world forcing governments to take tough actions. Several countries have imposed national and international lockdown and put a ban on movement to prevent the transmission…
Online marketplace Flipkart recently announced a partnership with Uber to provide people across Bangalore, Mumbai, and Delhi access to everyday essentials, amidst the ongoing national lockdown. This partnership will keep vital supply chains running and will address the growing needs of Flipkart customers to receive essential goods at their doorsteps every day. It will also…
Bengaluru-based travel tech startup Treebo has recently asked its employees to opt for voluntary resignations as a result of a sharp decline in sales due to the ongoing coronavirus pandemic. According to media reports, Treebo is in the process of letting go of 30-35% of its 400-strong workforce and the company’s co-founders and leadership team…
Germany’s flag carrier Lufthansa is reportedly looking for a new Chief Financial Officer in the midst of a crisis created by the global coronavirus pandemic. Lufthansa recently announced that its Chief Financial Officer Ulrik Svensson has resigned citing health reasons. The 58-year old executive had been a member of the company board since January 1,…
The global coronavirus pandemic is in its full effect. Risk of catching the flu is on the rise more than ever, stock markets are at an all-time low, a global recession is knocking on the doors of the world economy and individuals are now confined to their homes. The lockdown imposed by governments around the…
The coronavirus pandemic has hit the airline industry really hard. With the government imposing a 21-day lockdown and putting a ban on all kinds of travel, airlines have been forced to ground their flights and send employees home. Many experts are even predicting that if the situation prevails longer than expected, several domestic airlines will…
The ongoing coronavirus pandemic has crippled the economy with many experts fearing a global recession, possibly worse than the 2009 financial crisis. The impact of the pandemic can already be seen in the industries. The travel and hospitality industry has been the worst hit among all due to lockdowns and travel restrictions imposed by governments…
The novel coronavirus which originated from China has now started to engulf India. So far, the virus has claimed more than 80 lives in India and infected more than 3,000 people. The COVID-19 pandemic presents an unprecedented challenge to the nation. This crisis calls for an even stronger and concerted action from corporate citizens to…
The pandemic and the concern related to the extent of damage it can cause had brought in a good degree of participation form major corporations, philanthropists, and business leaders to support the fight against the pandemic. Simpolo Ceramics announced its contribution of Rs. 50 lakhs to PM & CM Care funds to fight the COVID…
MOIL, a state-owned manganese-ore mining company, announced it will be contributing Rs 45 crore to the PM-CARES fund to support the cause for the fight against Covid-19 pandemic that has already impacted millions of lives in the world. The company in its press statement mentioned how it has been following the impacts of coronavirus in…