(This story was first published in The Times of India on Nov 24, 2020) KOCHI: Battered by the Covid-19 crisis, large Indian companies are looking to their banks for digital solutions that can make their supply chains more resilient to pandemic-related disruptions, says a report from Crisil Coalition Greenwich. These demands are speeding the transformation of trade finance—one of the banking industry’s last paper-based holdouts—into a digital business. The global pandemic hit global trade flows harder than the global financial crisis of 2008–2009. Now, a second wave of COVID cases in the United States and Europe are dashing hopes of an early recovery. For large Indian corporates, that could mean a continuation of troubles experienced in the first half of this year, including supply-chain disruptions due to lockdown measures, industrial shutdowns and the resulting delays in shipping and transport. Unlike most areas of banking and business, the vast and diverse … [Read more...] about Covid: Companies looking for digital solutions for resilience
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“The AstraZeneca vaccine is really a big deal as most developed markets will be able to immunize their most at-risk population to Covid-19 by spring,” said Stephen Innes, chief market strategist at Axi. “The continuing increase in infections in the US and elsewhere has been the primary source of oil demand uncertainty.” … [Read more...] about Oil rises past August high on vaccine progress, Joe Biden transition
Such is the strength of the recovery in Asia, it’s now pulling supplies from as far afield as the North Sea. A rebound in Chinese local flights is also aiding demand for jet fuel, the hardest-hit oil product. That broad recovery has helped drive the market’s return to backwardation, which is significant as it often attracts passive flows into the market, leading to further price rallies. … [Read more...] about Oil highest since March on vaccine progress, Biden transition
India uses an elaborate signal system ranging from 1 to 11, which is hoisted at the ports to warn vessels of a possible cyclonic storm. The IMD sends information periodically to ports: usually four times a day, and once every three hours in case of a cyclone. … [Read more...] about Cyclone warning signals: What they mean?
Indian Army successfully launched its BrahMos supersonic cruise missile on 24 Nov 2020 in a top-attack configuration, hitting a target in the Bay of Bengal with pin point accuracy.#IndianArmy#SouthernCommand @DRDO_India#WarriorsoftheSouth#[email protected] pic.twitter.com/vec6Txdqgo … [Read more...] about India successfully test-fires land-attack version of BrahMos supersonic cruise missile