Unemployment in India remained high at 23.5% in May, but increased last month by 2.1 million euros due to the easing of some restrictions, according to data released Tuesday by the Indian Economic Observatory. In May, people returned to work, mainly small traders and wage earners, who make up a third of the working population. In April, 71% of them were unemployed. Because they mainly work for themselves, they now go back to work. To let you know the rest of the news in five minutes, here’s the Mint Light.

India pleads for Remdivir for Kovid-19.

The Indian Drug Regulatory Authority has approved the use of the antiviral drug Remdesivir in up to five doses for the treatment of serious patients Covid-19. The approval was received the day after the FDA reported that the drug, which had been closely monitored during a run on Covid-19 drugs, showed some benefit to patients with moderate coronavirus during a five-day treatment course. However, those who were given medication for 10 days were not fed either. (Remdesivir), which is the 1. June was approved under the state of emergency of five doses, said the Indian auditor-general in an e-mail. Remdesivir, which is administered intravenously in hospitals and developed by the American pharmaceutical company Gilead Sciences, is already in use in the United States and Japan. Gilead has entered into non-exclusive licensing agreements with pharmaceutical companies, including Jubilant Life, Cipla and Hetero, for the production and distribution of Remixivir.

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Supporting the storm in Mumbai.

Storm support in Mumbai

Mumbai is preparing for a strong cyclone storm in Nisarg, which arrives today. Evacuation continues, national teams in the city have been destroyed by the coronavirus. This happened less than two weeks after Cyclone Amphan destroyed parts of Bengal. The Nisarga is expected to be less intense, although the wind speed is more than 100 km/hour. Such storms are rare in the Arabian Sea, but scientists say that the rapid warming of the Indian Ocean will increase the number of hurricanes by 8 percent in a decade. Cyclones also accelerate wind speed, a phenomenon known as rapid intensification. This is when the constant wind speed for a storm reaches 55 km/h in 24 hours. Amphane was reinforced twice as fast. Another impact of climate change in India is the plague of locusts, the worst locust invasion in decades. The centre reported that it had controlled locusts by spraying 55,542 ha of land with insecticides in Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Punjab, Kharyan and UP.

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Global sales of smartphones

Decrease in worldwide sales

The economic uncertainty resulting from the new coronavirus epidemic has led to a sharp drop in demand for smartphones worldwide. Global smartphone sales to consumers fell 20.2 percent in the first quarter of 2020, according to a new Gartner report. Samsung, Huawei and Oppo have the worst performance among the top five smartphone vendors (see chart). All over the world job losses and insecurity have meant that people no longer spend money on non-essential goods in the first quarter. Despite the fact that sales of Samsung smartphones decreased by 22.7%, Samsung maintained its leading position with a market share of 18.5%. Xiaomi is the only phone manufacturer with better than expected sales figures. This has led to high sales of Redmi equipment in international markets and an aggressive focus on online channels.

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Protests against systemic racism, fuelled by economic uncertainty, continue in the United States.

Rising defaults on American home loans

Protests against systemic racism, fuelled by economic uncertainty, continue in the United States. The data point to other problems for the economy. Defaults on home loans are at their highest level since January 2015. In April, 3.6 million homeowners defaulted on their mortgage, 1.6 million more than in March, according to the Black Knight credit platform. More than 40 million Americans are unemployed. The default rate doubled to 6.45% from 3.06% in March. In India, RBI announced a moratorium on lending until August, which was accepted by 25% of clients. The standard curve here does not follow the same path as in the United States for two reasons: The savings ratio is relatively higher and the market does not have the same leverage. But given the climate in which a health crisis has turned into an economic crisis, the situation can become unfavourable. Wage cuts and indiscriminate redundancies can lead to defaults and, in the case of growth of non-performing assets, can affect the banking system.

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Korean QR code tracking

Korean QR code tracking

South Korea is testing a new rapid response (QR) system to track visitors to nightlife venues, following an outbreak in nightclubs that led to an outbreak of the coronavirus a few weeks ago. From the 10th. In June, visitors to nightclubs, bars, gyms and concert halls must use every commercially available application to generate a unique personalised QR code that can be scanned at the door. After the outbreak of the epidemic in a nightclub, the authorities found it difficult to find those involved, as many of the statements made by customers at the door turned out to be false. The government will retain and delete the data for two weeks. In the Chinese city of Wuhan, where a new coronavirus epidemic first appeared, no new cases of Covid-19 were discovered after testing 9.9 million of the 11 million inhabitants. The municipal authorities said Tuesday that they had identified 300 asymptomatic carriers. Orders that the costs of the legal proceedings commenced on 14 December 2003 be paid throughout the city. May after the start of new business, amounted to about $126 million.

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