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Weekly Update: June 14, 2021 - June 18, 2021

If you cannot do great things,
do small things in a great way.

Napolean Hill
(October 26, 1883 - November 8, 1970; American Author)

Let's start!

Here is a Fun Fact that may not, or may, know: The color of the feathers of Flamingos is originally white when they are born. The color changes to pink because of algae and fish consumed by them.

Image Credit: Maryland Zoo
Image Credit: Maryland Zoo

Both algae and fish that they consume contain a chemical called carotenoids. This chemical is responsible for turning their feathers pink.

June 14, 2021 (Monday)
:::The number of Corona Cases across India were as follows:
Confirmed - 2,95,10,410
Recovered - 2,81,62,947
Deceased - 3,74,305

:::Philips recalled around three-four million breathing devices and ventilators. The devices were recalled to address an issue of foam degrading into particles that may be ingested or inhaled and potentially have toxic & carcinogenic effects.

Image Credit: Pittsburgh Post-Gazette
Image Credit: Pittsburgh Post-Gazette

After the reports were made public, the value of its shares fell by 8.4%. The company, in its defense, issued a statement saying that it was working with regulators on a program to repair & replace the devices that have been affected.

:::HLL Infra Tech Services Limited invited expression of interest for delivery of medical supplies by Unmanned Aerial Vehicle (UAV), or a drone. The company invited on behalf of the Indian Council of Medical Research (ICMR) to deliver the COVID-19 vaccine at select locations in India by flying on a pre-approved path. Some specifications mentioned by HLL are as follows:

  1. The drone should be able to cover a minimum aerial distance of thirty-five kilometers at a vertical altitude of a hundred meters.
  2. The drone should be able to take off vertically.
  3. The drone should be able to carry a minimum payload of four kilograms & must be capable of returning to its home base.
Image Credit: The Indian Express
Image Credit: The Indian Express

The validity of the proposed agreement would be ninety days and it would be extended depending on the performance.
 
June 15, 2021 (Tuesday)
:::The number of Corona Cases across India as reported on Aarogya Setu App were as follows:
Confirmed - 2,95,70,881
Recovered - 2,82,80,472
Deceased - 3,77,031

:::According to a report published by The Guardian, Cloudtail India Private Limited - an e-retail joint venture between Amazon & Infosys - received a show-cause notice from the Directorate General of Goods & Service Tax Intelligence. The notice pertains to a tax dispute of ₹54 crores, including interests & penalties. The company denied the claims made in the report and refused to comment on it as the matter was sub judice.

Image Credit: Business Standard
Image Credit: Business Standard

Cloudtail, however, did clarify that it had been disclosing the disputed amount as a contingent liability since 2019 as per the Indian Accounting Standards.

:::Emirates Airline, a Dubai-based airline, recorded a net loss of $5.5 billion over the past year. This is for the first time in thirty years that the airline has reported a loss. The travel restrictions due to the COVID-19 pandemic affected its business. The revenue fell by over 66% and total passenger & cargo capacity declined by 58% over the past year.

Image Credit: Emirates
Image Credit: Emirates

The airline also reported a decline of 90% in the number of passengers that it carried last year as the number fell to 6.6 million passengers.

June 16, 2021 (Wednesday)
:::The number of Corona Cases across India were as follows:
Confirmed - 2,96,33,105
Recovered - 2,83,88,100
Deceased - 3,79,573

:::The policy to mandatory hallmark gold came into effect in 256 districts of India. The update was announced by the Union Ministry of Consumer Affairs, Food & Public Distribution. The objective of the policy is to enhance the quality and credibility of gold purchased by a consumer. The implementation of this policy is expected to make India a leading global gold market center. The policy currently exempts gold products like a watch, a fountain pen, and special types of jewelery like Kundan, Polki, and Jadau. The policy also exempts the export & re-import of jewelery that is used for international exhibitions and for B2B domestic exhibitions that are approved by the Government. The jewelers with an annual turnover of up to ₹40 lacs are exempt from this policy.

Image Credit: The Financial Express
Image Credit: The Financial Express

Even though the policy has come into effect, the penalty for not following the guidelines would not be imposed till August 2021.

:::Vistara operated India's first flight with fully vaccinated cabin crew and pilots. The flight departed from Delhi and landed in Mumbai. Vinod Kannan, the Chief Commercial Officer of Vistara, said that the company was trying to make sure that all of its members were fully vaccinated to ensure their safety along with the safety of their family members and the customers they serve.

Image Credit: Skytrax
Image Credit: Skytrax

The company, in a press release, said that there would be more flights in operation where the entire staff on board would be vaccinated.
 
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June 17, 2021 (Thursday)
:::The number of Corona Cases across India as reported on Aarogya Setu App were as follows:
Confirmed - 2,97,00,313
Recovered - 2,84,91,670
Deceased - 3,81,903

:::The Telecom Regulatory of India (TRAI) published data highlighting the average download and upload speed of Jio, Vodafone Idea, and Airtel for May 2021. According to the data, Jio retained its top spot with an average download speed of 20.7 Mbps. It was followed by Vodafone Idea and Airtel with an average download speed of 6.3 Mbps and 4.7 Mbps respectively. The highest average upload speed, however, was of Vodafone Idea with 6.7 Mbps. It was followed by Jio and Airtel with an average upload speed of 4.2 Mbps and 3.6 Mbps respectively.

Image Credit: Bar and Bench
Image Credit: Bar and Bench

TRAI published the data on June 08, 2021, by collecting it across India with the help of its MySpeed application on a real-time basis.

:::The Bank of America published a report saying that the Indian software companies would cut employment by thirty lakh by 2022 due to an increase in automation. The bank added that this would lead to a significant saving of up to 10:1 versus human labor as robots could function for twenty-four hours a day. The Indian software companies may also have to reduce employment as countries that had outsourced their work in the past are likely to take the jobs back for their citizens.

Image Credit: Getty Images
Image Credit: Getty Images

The automation will reportedly save Indian software companies ₹7.3 lakh crores in annual salary. The high-paced development in automation is driven by the reduction of highly skilled jobs in developing economies.

June 18, 2021 (Friday)
:::The number of Corona Cases across India were as follows:
Confirmed - 2,97,62,793
Recovered - 2,85,80,647
Deceased - 3,83,490

:::Manish Sisodia, the Deputy Chief Minister & Finance Minister of Delhi, issued a statement saying that the Delhi Government's tax collection and revenue declined in the first two months of the current financial year. While the data for declined tax collection was unavailable, the revenue was reportedly said to have declined to ₹5,273.26 crores. He has linked the decline of tax collection and revenue to the COVID-19 pandemic and lockdown.

In Pic: Manish Sisodia; Image Credit: The Indian Express
In Pic: Manish Sisodia; Image Credit: The Indian Express

The expenditure of the Delhi Government for the first two months of previous and current financial years, however, rose from ₹4,965.58 crores (2020-2021) to ₹8,511.09 crores (2021-2022). The rise in the expenditure was attributed to the implementation of various relief measures.

:::Rajnath Singh, the Minister of Defense of India, e-inaugurated twelve roads in a ceremony that was held in the Lakhimpur district. He issued an official statement saying that the built road would be helpful to fulfill the needs of India's Armed Forces by transporting necessities like medicines & ration to remote areas. The roads have been built by the Border Roads Organization (BRO) in the Northern and Eastern border areas.

In Pic: Rajnath Singh; Image Credit: PTI
In Pic: Rajnath Singh; Image Credit: PTI

The twelve roads e-inaugurated include one twenty kilometers long double-lane Kimin-Potin road, nine roads in Arunachal Pradesh, and one each in the Union Territories of Ladakh & Jammu-Kashmir.

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That is all for this week.

Do share this blog with everyone you know. You can connect with me on Instagram @sachdev_ankur.

I hope that the blog was useful and it helped you in catching up with what happened this week. If you have anything to contribute, then please feel free to comment. Do share this blog with everyone you know and help them too.


*Disclaimer: The information has been presented in this blog after reviewing various news articles. In case you find any article, or if you have any article, that states some facts differently, then share them in the comment section. Please keep the publishing date of the article in mind as it may be an update on the article which was published previously, or it may contain outdated information if it was published before the date mentioned in this blog. The blogger is not responsible for any transaction that happens between the reader and the brand.

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