<keyword id="1333" type="LOCATION" weightage="20" keywordseo="Beijing">Beijing</keyword>, A total of 73,537 people have received a <keyword id="24209" type="PERSON" weightage="20" keywordseo="vaccine">vaccine</keyword> against the novel coronavirus in Beijing in just two days after the Chinese capital started administering the jab among specific groups of people with higher infection risks. No serious side effects have been observed among the vaccine receivers, Gao Xiaojun, a spokesperson for the municipal health commission, as saying at a press briefing on Sunday. The inoculation, which began on January 1 across 220 venues in Beijing, currently mainly covers nine groups of people aged 18 to 59 in Beijing. These include frontline customs inspectors of imported cold-chain goods and personnel working in the overseas and domestic transportation sector. People receiving the jab will have the information updated on Beijing's health code app, Gao said, adding that those who have urgent plans to travel overseas can apply for Covid-19 inoculation at the community service centre. After the vaccines receive market approval, authorities in Beijing will start vaccination for other groups on a reservation basis, said Gao at an earlier press conference. On December 31, 2020, <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword> announced that it had granted conditional marketing authorisation to its first self-developed Covid-19 vaccine. The inactivated vaccine got approval from the <keyword id="7484487" type="COMPANY" weightage="20" keywordseo="National-Medical-Products-Administration">National Medical Products Administration</keyword>. It was developed by the Beijing Biological Products Institute Co. Ltd. under the <keyword id="8779112" type="COMPANY" weightage="20" keywordseo="china-national-biotec-group">China National Biotec Group</keyword>, affiliated with Sinopharm. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-beml-hcl-tech-infosys-tech-mahindra-tcs-ril-tata-motors-hero-moto-tvs-and-others/articleshow/80089765.cms">Top stocks to watch — BEML, HCL Tech, Infosys, Tech Mahindra, TCS, RIL, Tata Motors Hero Moto, TVS, and others</a> <a href="https://www.businessinsider.in/business/auto/news/checkout-upcoming-new-cars-in-year-2021/slidelist/80025993.cms">Upcoming new cars in India in 2021 of Maruti, Tata, MG, Audi</a> <a href="https://www.businessinsider.in/international/news/questions-arise-about-jack-ma-whereabouts-as-alibaba-faces-scrutiny-from-the-chinese-government/articleshow/80090457.cms">Where is Jack Ma? Questions arise about the billionaire’s whereabouts as Alibaba faces scrutiny from the Chinese government</a>

73,537 receive COVID-19 vaccine in Beijing in two days since inoculation

New Delhi, Mar 19 () The coronavirus impact could render 3.8 crore people jobless, which is around 70 per cent of the total workforce in the tourism and hospitality sector, according to a grouping. The Federation of Associations in Indian Tourism &amp; Hospitality (FAITH) also said there should be a support fund for twelve months to support basic salaries with "direct transfer" to the affected tourism employees. "As a result of this pandemic, Indian tourism industry is looking at pan India bankruptcies, closure of businesses and mass unemployment," FAITH said in a letter to Prime Minister Narendra Modi. It is believed that around 70 per cent out of a total 5.5 crore workforce could get unemployed, which is around 3.8 crore people. This effect of job losses and layoffs has already begun throughout the country, it added. The figure is for direct as well as indirect jobs. "A large percentage of total tourism business activity of India, which is estimated at USD 28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year. Thus, in excess of Rs 5 lakh crore of direct tourism industry and almost double that of total economic activity is at risk," the letter said. With declining revenues, almost all tourism businesses are running out of working capital. However, with the responsibility of staff and payment of their salaries, EMIs to service, advance tax, PF, ESIC, GST, excise and other state levies, bank guarantees, security deposits, this industry needs your support now more than ever, it added. "We request you for a twelve-month moratorium on our EMIs of principal and interest payments on loans and working capital from Financial Institutions (both banking &amp; non-banking)," the letter said. Additionally, FAITH requested the PM for doubling working capital limits on interest free and collateral free terms. This will prevent all tourism businesses from going bankrupt, it added. "Sir, additionally to prevent insolvency, we request you for a deferment for 12 months of all statutory dues whether GST, Advance Tax payments, PF, ESIC, customs duties at the central government level or at any state government level the excise fees, levies, taxes, power &amp; water charges, bank guarantees &amp; security deposits and deferment of all renewals, across the tourism, travel, hospitality &amp; aviation industry," the letter said. FAITH also requested the PM to set up a support fund for twelve months on the lines of MNREGA to support basic salaries with 'direct transfer' to affected tourism employees, it added. "TCS (tax collected at source) on travel has been proposed in Finance Bill 2020 to be levied from April 1, 2020 and we request that it should not be introduced as it will displace business from India to overseas, which will lead to shutting down businesses of most Indian tourism companies," the letter said. It also requested a complete GST Tax Holiday for the tourism, travel and hospitality industry for a period of 12 months. The letter requested the PM to, "set up...a national tourism task force of all relevant ministries of the central government along with ministry of tourism and chief secretaries of State governments and industry stakeholders to meet regularly to fast-track all tourism investment approvals." AKT AKT ANUANU

Coronavirus impact may render 3.8 cr people jobless in tourism, hospitality sector

Mumbai, Apr 24 () The Indian IT sector is staring at a revenue growth sliding to a decadal low of up to 2 per cent and an impact on profitability owing to narrowing of margins due to the COVID-19 pandemic, a report said on Friday. The companies will lose out on new deals, which will compromise future revenues, and also face reverses on the exiting ones, which may be renegotiated as their overseas clients face difficulties due to the lockdowns, domestic rating agency Crisil said in the report. The USD 97 billion IT sector is one of the largest service exporters and helps the economy also by supporting over 40 lakh jobs if the IT-enabled services are also included. Major companies including Infosys and Wipro have earlier this month discontinued the practice of giving yearly guidances, while TCS hinted at pain during the first two quarters of the year. "Typically, new deals get finalised between March and May, but this time around, most clients will focus on mitigating emerging business risks and defer discretionary IT spend, while letting existing contracts continue," Crisil's senior director Anuj Sethi said. Crisil said that revenue growth for the industry will decline to a decadal low of 0-2 per cent. The ongoing restrictions on mobility, which has resulted in the entire aviation sector being closed, will also cause delays in deal consummations, Sethi added. The IT industry's largest client segment of banking, financial services and insurance which accounts for 28 per cent of the industry revenues will deliver an 8 per cent topline growth on rising share of digital transactions and presence of larger and longer-term maintenance contracts that are critical to operations, Crisil said. While healthcare segment, which accounts for 8 per cent of the IT industry revenues, will also grow at similar levels, it said. However, other segments including retail (32 per cent of IT service revenues), and communication, aerospace, defence and transportation (22 of revenues) and manufacturing, travel and tourism and oil and energy will see a steep and immediate impact on revenues considering sluggish demand in these sectors, it said. The rating agency said operating profitability could moderate by 2-2.50 percentage points to a decadal low of 20 per cent for 2020-21, despite gains from rupee depreciation. The slowdown in revenues will have an impact on profitability because the IT firms will have to continue investing in new age technologies to showcase their ability to execute complex digital projects, its associate director Rajeshwari Karthigeyan said. Karthigeyan explained that in the last four years, the share of digital revenues has grown to about 40 per cent of the total revenues, but at the same time has seen a narrowing of profit margins by up to 1.50 per cent. IT companies have already streamlined costs and raised utilisation rates to record high of 85-90 per cent by increasing the share of fixed price contracts, which will make it impossible to derive any gains from optimising employee or outsourcing costs, the agency said. The ratings agency, which studied 15 companies constituting 70 per cent of the total revenues, said there will not be any impact on ratings as a result of this and limited itself to say that ones with revenue concentration in weak segments may face some challenges. It flagged the extent of the pandemic and its impact on the global economy as a key monitorable factor going ahead. AA ANUANU

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73,537 receive COVID-19 vaccine in Beijing in two days since inoculation

IANS

Coronavirus impact may render 3.8 cr people jobless in tourism, hospitality sector

PTI

IT sector revenue growth may hit decadal low due to COVID-19: Crisil

PTI