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Global supply chains affected due to coronavirus

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New Delhi (NVI): The coronavirus outbreak that has hobbled China’s economy is increasingly affecting the world economy and supply chains.

As COVID-19 spreads, its effect on business is amplified. Not only are Chinese factories affected by lockdowns and quarantines, production sites in other countries are already running low on parts because of shortages from China.

Apple works with suppliers in forty-three countries, all of which receive components from the company’s contract manufacturers in China and as a result, is facing a considerable shortage these days.

Another example of disruption is that ships carrying refrigerated cargo containers of chicken from the US to China are being diverted to ports in Hong Kong, South Korea, Taiwan and Vietnam as ports are running out of space for refrigerated containers that need to be plugged into electrical sources.

With regards to the Indian perspective, the outbreak of the virus in China has hit manufacturing and exports sectors, particularly medicines, electronics, textiles and chemicals. This is not insignificant as China is India’s biggest source of intermediate goods, a sector worth $30 billion a year. Up to 70 per cent of active pharmaceutical ingredients and close to 90 per cent of certain mobile phone parts come from China.

Global efforts to control the epidemic are underway by multiple nations and coordinated international initiatives are being undertaken. It is advised that basic hygiene be followed such as washing of hands regularly and wearing masks in public spaces like airports and train stations.

Commercial data and analytics company, Dun and Bradstreet, estimate that there are around 22 million businesses (90% of all active businesses in China) within the regions impacted by COVID-19. This is likely to impact at least 56,000 companies around the world with suppliers either directly or indirectly.

Another major concern has been that US buyers had already started moving their sourcing away from China before the spread of the virus. Much of the manufacturing moved to Southeast Asia and Taiwan, with the onset of nCoV, this shift has increased its pace.

The effects of coronavirus on supply chains is already evident and much rests upon the international scientific and healthcare response to the outbreak. Countries are not taking the issue lightly and are making concerted efforts to quarantine, provide medical access and control the spread of the disease.

Parts of South and West India to receive light showers

Rainfall
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New Delhi (NVI): Scattered rains are expected in coastal Tamil Nadu and other parts of the state over the next two to three days.

The intensity of these rains will remain mainly light to moderate over most regions including Chennai, according to Skymet weather.

North Vidarbha region of Maharashtra and parts of Madhya Pradesh may also see light rain and thundershowers with strong gusty winds.

Hailstorm activities are likely to affect at isolated places in North Chhattisgarh, East Uttar Pradesh, Jharkhand, Bihar, and Sub-Himalayan West Bengal.

Moderate to dense fog is likely to occur at isolated places in Chhattisgarh, Odisha, Uttar Pradesh, Bihar, Jharkhand, West Bengal, Madhya Pradesh, and the northeastern states.

Meanwhile, Delhi and NCR region showed no change in the minimum temperature recorded at 13 degrees Celsius.

The maximum temperature today is expected to be around 24 degrees Celsius, according to the India Meteorological Department (IMD).

The IMD said that there will be a gradual fall in minimum temperature by 2 to 3 degree Celsius over West India during next three days.

“No significant change in temperature is expected in rest of the country,” it added.

Narnaul in Haryana and Rajasthan’s Pilani recorded 9.0 degrees  Celsius, according to IMD.

Amritsar in Punjab and Sikar in Rajasthan both recorded minimum temperature at 12.0 and 10.0 degrees Celsius respectively.

Bikaner recorded minimum temperature at 12.0 degrees Celsius.

Patiala in Punjab and Rangia in Assam both recorded a minimum temperature at 11 degrees Celsius.

Apart from this, Hisar in Haryana and Chandigarh recorded a minimum temperature at 12.0 degree Celsius each.

In Delhi, the overall air quality today is in “moderate” category.

According to System of Air Quality and Weather Forecasting and Research (SAFAR), the Air Quality Index (AQI) in the national capital stood at 77 which falls in the “moderate” category.

Coronavirus: With 6 deaths, Iran shuts schools and cultural centres

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New Delhi (NVI): After six deaths due to coronavirus, Iranian authorities have ordered closure of schools, universities and cultural centres  in more than a dozen affected provinces in a bid to contain the outbreak, according to media reports.

The order comes after the sixth death from coronavirus was reported in Iran, the highest in any other country outside mainland China.

Ali Aghazadeh, governor of the Markazi province, said that tests of a patient who recently died in the central city of Arak were positive for the virus.

So far, 28 cases have been confirmed in Iran, but it was not immediately clear if the sixth fatality was among those cases.

Italy’s prime minister announced a ban on people entering or leaving new coronavirus hotspots as the number of confirmed infections rose sharply to 79, in an outbreak that has claimed two lives in the country.

“In zones considered hotspots, neither entry nor exit will be authorised without special permission,” Prime Minister Giuseppe Conte said during a news conference, adding that businesses and schools in the areas would be closed.

Meanwhile, Chinese President Xi Jinping wrote to Bill Gates after the billionaire’s foundation committed $100 million in emergency funding to help China bolster epidemiological research, emergency intervention, and the research and development of drugs, vaccines, and diagnostics, according to state media.

Almost 100 people died of the novel coronavirus in mainland China, as the global death toll hit 2,461.

According to China’s National Health Commission (NHC), there were 97 new deaths reported in mainland China on Saturday, all but one of which were in Hubei, the province at the center of the outbreak. Of the total deaths, 2,442 have been in reported from China.

Amarnath Yatra: J&K officials review arrangements

SRINAGAR (NVI): A high-level meeting of Kashmir administrative officials was held here to review arrangements being put in place for smooth conduct of the ensuing Amarnath Yatra 2020.

Divisional Commissioner, Kashmir, Baseer Ahmad Khan convened the meeting and directed the Anantnag district administration to conduct a joint survey with DIG CRPF and SSP of Walnut factory to find out whether the capacity, which is presently 700 persons, can be increased to accommodate more yatris (pilgrims).

The team will also inspect FCI area at Mir Bazar for additional transit camp, in which 1500 yatris will be accommodated.

The Kashmir DC also directed district administration and other concerned officers to construct 20 additional toilet blocks with washrooms, macadamize inner roads, repair drainages, install backup generators & additional Public Address Systems and develop other basic amenities in the transit camps.

During the meeting, it was informed that Pahalgam Development Authority has submitted a proposal of Rs 30 lakh for tabular fencing at Nunwan base camp. The PDA was asked to ensure all basic amenities at Nunwan base camp besides installing 10 CCTV cameras in and around the location.

J&K: 9 dead, 5 injured in Kathua road mishap

Jammu (NVI): At least nine people were killed and five others injured after a vehicle skidded off the road and fell into a deep gorge in Kathua district of Jammu.

The incident took place at around 5:30 PM in a remote village Malhar of Kathua district. According to reports, the driver of the vehicle lost control, drifted off the road and rolled down a 300 feet deep gorge. The injured have been sent to a nearby hospital, several of whom are said to be in critical condition.

Rescue operations are still going on, as per last reports. An investigation is underway and further details are awaited.

Meanwhile, in a separate incident, a truck driver was killed after his vehicle skidded off the road and plunged into a deep gorge in Ramban district early this morning, police said.

The deceased was identified as Jagdish Kumar (40), a resident of Udhampur district’s Ramnagar area, they said.

The truck, which was loaded with washing machines and refrigerators, was on its way to Srinagar from Jammu. It skidded off the road and rolled down into a 400 feet deep gorge at Chamalwas near Banihal in Ramban around 5 am, a police official said.

Rescuers immediately swung into action and pulled out the driver’s body, he said. The body was handed over to Kumar’s family after completion of legal formalities, the official said.

CSIR-IIIM signs agreement for research on Cannabis

Jammu (NVI): The CSIR-Indian Institute of Integrative Medicine (IIIM), signed an agreement on cannabis scientific research with IndusCann, a Canadian company, here today in the presence of the Union minister and R R Bhatnagar, the advisor to Jammu and Kashmir Lt Governor G C Murmu.

On Addressing the gathering, Dr Jitendra Singh said that this is the landmark day for the entire J&K which will be remembered by future generations as a day of immense significance.

The Minister said that this agreement will give an opportunity to reintroduce cannabis for the welfare of mankind adding that the medicines developed from cannabis.

“The patent on the medicines developed from cannabis will be a major source of revenue for J&K and India as a whole,” the Minister asserted adding that this also has a huge potential for generating investments besides creating employment opportunities and doubling the income of farmers.

Jitendra Singh also said that through this agreement, huge contribution has been made by CSIR and IIIM in realising what can be achieved in J&K after the abrogation of Article 370.

Speaking on the occasion, Advisor to Lieutenant Governor, Rajeev Rai Bhatnagar said that the cannabis has a very high medicinal value besides varied benefits in treating cancer, epilepsy and other dreaded diseases.

Earlier, Director IIIM, Ram Vishwakarma said that IIIM Jammu is globally recognised for its cannabis work. He gave a detailed presentation on the benefits of drugs developed from cannabis like Sativex and Epidolex in treating cancer, epilepsy and other ailments.

Court rejects Nirbhaya convict’s plea

New Delhi (NVI): A Delhi court today dismissed the Nirbhaya rape and murder convict Vinay Sharma’s plea for medical treatment, observing that the convict’s claim of mental illness is a “bundle of distorted facts”.

Additional Session Judge Dharmender Rana rejected the plea by Vinay Kumar Sharma.

Convict Vinay Sharma, in his plea, had claimed that he had sustained a grievous head injury and fracture in his right arm, and was suffering from “insanity”, “mental illness” and “schizophrenia”.

The Delhi court also asked the Tihar authorities to ensure adequate medical care to all the convicts.

The psychologist, who appeared on behalf of the jail, said medical checkups of all four convicts were done on a daily basis and they are all fine.

Reacting to Sharma’s plea, victim’s mother Asha Devi said, “It was a tactic to delay the execution. The convicts are misleading courts.

The court had on February 17 issued fresh death warrants for the execution of the four convicts that they will be hanged on March 3.

A 23-year-old woman, on December 16, 2012, was gang-raped and assaulted inside a moving bus in South Delhi by six persons. She later died on December 29, 2012, at a hospital in Singapore.

CISF has expanded its role, met new challenges: MoS Home Reddy

New Delhi (NVI): Central Industrial Security Force has expanded its role and met challenges successfully by displaying commitment and dedication towards the country, Minister of State for Home Affairs G Kishan Reddy said today said.

The MoS Home was addressing CISF personnel at a passing out parade of 11th batch of Assistant Sub Inspector at the regional training centre at Arakkonam in Tamil Nadu.

“CISF have been guarding, not merely airports and critical and very sensitive establishments of the country/but the very key-nerves of the nation,” the minister said.

Reddy also appreciated that CISF has to remain vigilant and deal with the enemies within the country who may be hidden, at times.

“A soldier has to face occasional battles but for CISF personnel every minute is a battle. A soldier very often knows his enemy but CISF personnel would not know from where the enemy comes,” he said.

Industry, trade ready to tackle coronavirus impact: ASSOCHAM

New Delhi (NVI): Amid the global health emergency due to coronavirus outbreak, ASSOCHAM today said that there is no need to panic on coronavirus impact, as the Indian industry and trade, including the pharmaceuticals, are readying to manage the evolving situation without causing any major impact on the supply chain.

While addressing at an event here, ASSOCHAM Secretary General Deepak Sood said, “Yes, in a highly integrated economy, global supply chain is a reality but there are adequate cushions available to deal with temporary disruptions. Both the Indian government and the industry have been reacting in a pro-active manner, in close coordination with each other, to face any economic, technical or even contractual impact of the Coronavirus on the world economy.”

“Thankfully, so far, there has not been any major disruption in supply chain on Indian industry and no major challenge is foreseen in the near term,” he added.

He said while it is true that India imports substantial amount of API (Active Pharmaceutical Ingredients) to the extent of 60-70 per cent from China, there are several domestic and global firms which have set up API units in India as well.

Depending upon the evolving situation, they may be encouraged to ramp up their production in India, Sood said. The NITI Aayog’s engagement with the pharma industry is directed at achieving the same objective, he added.

For the long run, it is both an opportunity and a wakeup call for boosting domestic production of essential generic drugs along with APIs for the Indian and global market, the ASSOCHAM Secretary Gen said.

He said that when it comes to other industries like electronics, there are no immediate threats. However, alternative supply source like Taiwan can be explored, he added.

“Again there has been an increased focus on domestic production of IT hardware and electronics and the initiative like ‘Assemble in India’ can be ramped up,” Sood said.

“The ASSOCHAM is in constant touch with its members, keeping a close watch on the situation,” he added.

“We should not get very negative on sporadic headlines reporting disruptions. Such events have to be tackled pragmatically,” he said.

He added that it is commendable for the Government to have clarified that in such events, the companies can invoke clauses like Force Majeure and protect themselves against any contractual lapses if any, should a situation so demand.

Outcomes of FATF meeting held in Paris

New Delhi (NVI): Following is the outcome of Financial Action Task Force (FATF) Plenary held in Paris from February 19 to 21, 2020 on Pakistan:

Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG (Asia Pacific Group) to strengthen its AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan’s political commitment has led to progress in a number of areas in its action plan, including risk-based supervision and pursuing domestic and international cooperation to identify cash couriers.

Pakistan should continue to work on implementing its action plan to address its strategic deficiencies, including by:

(1) demonstrating that remedial actions and sanctions are applied in cases of AML/CFT violations, relating to TF (terror financing) risk management and TFS obligations;

(2) demonstrating that competent authorities are cooperating and taking action to identify and take enforcement action against illegal money or value transfer services (MVTS);

(3) demonstrating the implementation of cross-border currency and BNI controls at all ports of entry, including applying effective, proportionate and dissuasive sanctions;

(4) demonstrating that law enforcement agencies (LEAs) are identifying and investigating the widest range of TF activity and that TF investigations and prosecutions target designated persons and entities, and those acting on behalf or at the direction of the designated persons or entities;

(5) demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions

(6) demonstrating effective implementation of targeted financial sanctions (supported by a comprehensive legal obligation) against all 1267 and 1373 designated terrorists and those acting for or on their behalf, including preventing the raising and moving of funds, identifying and freezing assets (movable and immovable), and prohibiting access to funds and financial services;

(7) demonstrating enforcement against TFS violations including administrative and criminal penalties and provincial and federal authorities cooperating on enforcement cases;

(8) demonstrating that facilities and services owned or controlled by designated person are deprived of their resources and the usage of the resources.

All deadlines in the action plan have expired. While noting recent and notable improvements, the FATF again expresses concerns given Pakistan’s failure to complete its action plan in line with the agreed timelines and in light of the TF risks emanating from the jurisdiction.

To date, Pakistan has largely addressed 14 of 27 action items, with varying levels of progress made on the rest of the action plan.

The FATF strongly urges Pakistan to swiftly complete its full action plan by June 2020. Otherwise, should significant and sustainable progress especially in prosecuting and penalising TF not be made by the next Plenary, the FATF will take action, which could include the FATF calling on its members and urging all jurisdiction to advise their FIs (Foreign Institutions) to give special attention to business relations and transactions with Pakistan.

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