Month: March 2020

The announcement was followed by a force majeure declaration that affects the Mundra LNG terminal, owned by GSPC and Adani. The force majeure is in effect from 7 am India time (0130 GMT) on March 22, 2020, according to the company’s official notice. “Port hereby notifies the Force Majeure event wherein port will not be responsible for any claims, damages, charges, etc. whatsoever arising out of and/or connected to the above Force Majeure event, either directly or indirectly, which without any limitation would include vessel demurrages,” the company document stated.…

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Decades of chronic underfunding of water infrastructure is putting many countries at worse risk in the coronavirus crisis, with more than half the global population lacking access to safely managed sanitation, experts said as the UN marked World Water Day on Sunday. Good hygiene – soap and water – are the first line of defence against coronavirus and a vast range of other diseases, yet three quarters of households in developing countries do not have access to somewhere to wash with soap and water, according to Tim Wainwright, chief executive of the charity…

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Italy has gone full “Wuhan” with a massive lockdown across the country amid a virus crisis that has paralyzed its economy. So far, 63,927 confirmed cases of COVID-19 had been reported, with 6,077 deaths. The Italian economy is being dragged into a depression as the fast-spreading virus cripples its northern regions, forcing the government to ban travel and close all industrial production across the country. The impact of the virus on Italy’s economy led to the collapse of electricity consumption last week. Electricity usage fell 16% YoY for March 16-22, according to Bloomberg calculations based on Terna SpA data. Diego Marquina, an analyst…

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In New Delhi, a fruit vendor whose sales have dropped by half now dilutes the milk she serves to her five children. In central Turkey, a company that runs hot air balloon rides for tourists has banished its 49 employees to indefinite leave while cutting their wages by half. In Manila, a bartender for an international cruise line finds himself marooned at home, wondering if his savings will last until his ship returns to sea. In Johannesburg, a mother who makes her living braiding hair goes home empty-handed. And in…

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