World news – GB – XPrize’s latest challenge wants AI to better predict COVID-19 transmission rates


. .

The COVID-19 pandemic has not only resulted in loss of life, but has also resulted in the loss of livelihoods around the world with businesses shutting down due to the necessary shutdowns. It has had a major economic impact across industries, and experts believe the world will continue to feel it for years to come, even after vaccines become available. It remains unclear when the vaccine will be introduced, and local economies need to reopen soon if they haven’t done so yet.. In an effort to find ways on how to safely reopen communities in the midst of the pandemic, XPrize teamed up with Cognizant in a new competition with a $ 500,000 prize portfolio..

The XPrize Pandemic Response Challenge will encourage participants to build data-driven artificial intelligence models that can predict the rates of local coronavirus transmission. Participants will also need to describe intervention and mitigation measures and test them using “what if” scenarios to demonstrate their ability to reduce infection rates and reduce the negative impact on the economy.. Teams will base their innovation on technology and artificial intelligence models developed by Cognizant, and will use the data collected by the Oxford Government Response Tracker COVID-19..

“This challenge will inspire some of the world’s brightest innovators to take on direct threats to our economies and livelihoods.. Through global collaboration, the outcome of this challenge can be a game-changer when it comes to using data and artificial intelligence to create a pathway to recovery across a range of economic scenarios created by the competing teams.. With vaccines on the horizon, these predictive and educational models for community unlocking will remain valuable for the foreseeable future.

Unlike other XPrize competitions that have taken years to end, the Pandemic Response Challenge will only last for four months ending in February 2021. For the first phase, which will end on December 22nd, teams will focus on providing accurate transmission forecasts, in addition to coming up with unique intervention strategies, mitigation policies and practices.. The top 50 teams will advance to the second and final stage of the competition.

The organization chose to adopt a shortened timetable in an effort to help « end the COVID-19 pandemic and its devastating effects » as quickly as possible. So far, 102 teams from 23 countries have already signed up to participate. Back in July, the XPrize organization also launched a $ 5 million competition to make testing for COVID-19 faster, cheaper, and easier.

M&T Bank (NYSE: MTB) chose to maintain its relatively generous earnings. Currently, the Federal Reserve is banning prominent lenders like M&T Bank from raising their earnings beyond a certain level associated with profitability – a step being taken in order to defend against ongoing shocks to the financial system while we are inside the coronavirus pandemic.. Like many regional and local counterpart lenders, M&T Bank has taken real hits to its business since the outbreak spread..

Check out our review of the best Oculus Quest early Black Friday 2020 deals, which include bestsellers on 64GB, 128GB, and 256GB headphones Oculus Quest and Quest 2 Black Friday deal experts have revealed the early best Oculus Quest deals for Black on Friday. Top discounts are for Oculus Quest 1 and 2 headphones with 64GB, 128GB and 256GB storage capacity. Shop the latest deals using the links below. Best Oculus Quest Deals: * Save up to 28% on the latest Oculus Quest headphones on Amazon – Check the best available prices for Oculus Quest headphones and accessories * Save on Oculus Quest 2 VR systems and accessories at GameStop. com – Click the link for live prices on the Oculus Quest 2 and compatible accessories such as hard headbands, carrying bags and more * Shop the latest deals on Oculus Quest 2 on Amazon – Click the link for live prices on Quest 2 Virtual Reality All-n Glasses -One and compatible accessories * Save on the all-in-one Oculus Quest 2 gaming headset & accessories at Verizon – See live prices for Oculus Quest 2 packages including VR headsets, touch controllers, glass dividers and more. Best Best VR Headset deals: * Shop the latest offers VR headsets from a variety of brands on Amazon – Check live prices on Oculus Rift, HTC Vive, Samsung Gear, Sony PS VR and other VR gaming headsets * Save on VR headsets from Oculus, S VR and HTC Vive at Gamestop. com – Click the link for direct prices for best-selling virtual reality headsets such as Oculus Quest, Vive Cosmos, and Playstation VR * Save up to 31% on Oculus VR headsets on Amazon – Check live prices on Oculus Rift S and Oculus Go & Oculus Quest Standalone headphones & accessories Want more deals? We recommend checking out Walmart’s White Friday Deals for Sale on Sale and the latest Holiday Season deals from Amazon to compare the thousands of deals currently active.. Deal Stripe earns commissions from purchases made using provided links. The recently released Oculus Quest 2 offers many improvements over its predecessor, notably the presence of at least 50% more pixels and a redesign of touch controllers to improve response to gestures and movement.. The Oculus Quest platform is noteworthy for being a standalone VR gaming headset that doesn’t require a PC or console. Moreover, it is fully backward compatible with the already extensive Quest library, which makes upgrading easier to consider. Oculus Quest 2 comes in 64GB and 256GB versions while the original Oculus Quest 2 version can be found in 64GB and 128GB versions.. About Deal Stripe: Deal Stripe shares e-commerce news and sales. As an Amazon Partner and Deal Stripe affiliate, you earn from eligible purchases. Contact: Andy Matthews (Andy @ nicelynetwork. com)

Black Friday 2020 Best Internal Hard Drive Early Deals featuring all the best indoor hard drive offerings from Western Digital and Toshiba & Seagate

(Bloomberg) – Oil tumbled back towards $ 41 a barrel after an industry report indicated a larger-than-expected increase in U. s. Crude oil stocks, to counter optimism about the recovery in Asia. Futures fell 0. 7% in New York after adding 0. 2% on Tuesday. The American Petroleum Institute reports that crude oil inventories swelled by 4. 17 million barrels last week, more than double the expected gains in the Bloomberg survey. The increased stocks come with more restrictions across the US. s. As well as Europe to limit the spread of the Corona virus, which delays the global recovery of the oil sector, even with the return of Asian demand. Meanwhile, the OPEC committee meeting ended without a tangible indication that producers would reverse plans to increase production early next year, although the Committee of Ministers informed the organization that it was ready to act when needed.. . Oil surged above $ 42 a barrel on Monday after news of another vaccine hack, but prices have since lost some steam as the market continues to grapple with the recovery of disproportionate demand.. As China’s recovery accelerates and Asian refiners are catching barrels, the virus is renewing itself in Europe and the United States. . s. Depleted consumption. « The peaks brought about by the pollen news have proven unsustainable as the oil complex balances the vision between future promise and present reality, » said Vandana Hari, founder of Vanda Insights, a consultancy in Singapore.. . It added that Asian demand for oil is expected to continue to recover during the next three to four months, offset to some extent by a decline in European demand.. . Official government data on U. s. Crude oil inventories are scheduled for Wednesday. Based on the average estimate of responses to a Bloomberg survey, inventories nationwide expanded by 1. 6 million barrels last week. Separately, API data showed that U. s. Gasoline stocks rose by 256,000 barrels last week. If confirmed by the Energy Information Administration on Wednesday, it would be the second gain in three weeks. See also: Last U. s. Leading oil in Venezuela looks to Biden to maintain a foothold OPEC is scheduled to meet at the end of the month for a ministerial meeting that will determine its production policy. On Monday, a technical committee suggested that the group is considering delaying production increases from three to six months, but Saudi Energy Minister Prince Abdulaziz bin Salman said the market is too fluid to decide on cuts now.. . For more articles like these, please visit us at Bloomberg. comSubscribe now to keep up with your most trusted business news source. © 2020 Bloomberg LLC. s.

(Bloomberg) – The U. s. The Securities and Exchange Commission is pressing ahead with a plan threatening to expel Chinese companies from Yu. s. Stocks, which led to a belated clash between Washington and Beijing with the end of the Trump administration. By the end of this year, the Securities and Exchange Commission intends to propose a regulation that would lead to delisting companies for non-compliance with U. s. Auditing rules, according to people familiar with the matter. Agency officials have moved quickly on the ground since August, when the President’s Financial Markets Working Group – a regulatory board whose members includes SEC Chairman Jay Clayton and Treasury Secretary Stephen Mnuchin – has urged the regulator to pass new restrictions that could take effect as early as 2022. The persons who requested anonymity said in the discussion of private deliberations. The subject matter is a problem that bothered U. s. Regulators for more than a decade: China refused to allow inspectors from the company’s Public Accounting Oversight Board to review Alibaba Group Holding Ltd audits. , Baidu Inc. And other companies that trade in the US market. The case has gained additional urgency due to heightened tensions between the two countries and in the wake of this year’s high-profile accounting scandal at Luckin Coffee Inc.. The SEC’s move is unusual because most agencies stop issuing major new policies after the presidential election, especially when a new party takes office.. Additionally, the base is unlikely to be completed before President Donald Trump’s term ends in January. 20. Clayton, who plans to step down by the end of the year, will also be gone before any list is finalized. That would leave his completion to the Chairman of the Securities and Exchange Commission chosen by President-elect Joe Biden. By pushing through the vote, Clayton would compel Republican and Democratic commissioners at the Securities and Exchange Commission – all of whom stayed years on their terms – to sign up to determine whether they support stricter rules for Chinese companies.. The release of the proposal also requires the SEC to request public comment and investor advocates are expected to inundate the agency with letters supporting the Clayton plan.. Additionally, unlike many policies in this era of increasing partisanship, cracking down on China is drawing Republicans and Democrats on Capitol Hill.. . In May, the United States. s. The Senate approved a bill without opposition directing the Securities and Exchange Commission to begin the process of delisting Chinese companies whose audits are not subject to inspection by US regulators.. All of these factors could put pressure on Clayton’s Democratic successor. The Securities and Exchange Commission declined to comment on the rule-setting plan. The Nasdaq Gold Dragon Chinese Index decreased by 0. 9% Tuesday, compared to 0. 5% drop for the benchmark S&P 500. The scale that tracks U-listed Chinese companies. s. , Closed at a record high at the end of last week. Fang Shanghai, vice-chairman of the China Securities Regulatory Commission, made a positive note about resolving the problem at a panel discussion on Tuesday, saying it is important to ensure Chinese companies have access to international capital markets.. . « I think during the Biden administration we should be able to solve this problem because it is not an insurmountable problem, » Fang said at the New Economic Forum.. . All it takes is goodwill on both sides and desire on both sides. Chinese stock listings caught Trump’s attention, as he stepped up his attacks on China over the coronavirus pandemic and other grievances. . Last week, he signed an order barring US investments in Chinese companies owned or controlled by the military. The Wall Street Journal reported the SEC’s work earlier. The conflict over audits inspections dates back to the Sarbanes-Oxley Act of 2002, which reformed the regulation of public company audits after the collapse of Enron Corp.. And WorldCom. The law created PCAOB and required it to conduct regular inspections of companies that review corporate books. Although it applies to companies all over the world if they click on U. s. Markets – and more than 50 foreign jurisdictions allowing reviews – China refused to comply, citing strict secrecy rules. Yo. s. And Chinese officials have repeatedly failed to reach a compromise. Meanwhile, Chinese companies have continued to go public via U. s. Stock exchanges despite ignoring US law. They raised about $ 12 billion in IPOs this year, the highest level since 2014 when Alibaba debuted. The President’s Working Group report leading the SEC action recommended that exchanges like the New York Stock Exchange and Nasdaq establish enhanced standards to prevent the listing of companies that do not adhere to the U. s. Grammar. The report called on the Securities and Exchange Commission to pass new rules, but said that they should not take effect until January 2022 to prevent market disruptions.. Yo. s. Investors’ exposure to Chinese stocks is increasing, according to the Securities and Exchange Commission. More than 150 companies in the country with a total value of 1 USD. 2 trillion, traded on US stock exchanges as of 2019. (Updates with comment from China in the eighth paragraph. ) For more articles like these, please visit us at Bloomberg. comSubscribe now to keep up with your most trusted business news source. © 2020 Bloomberg LLC. s.

It is unlikely that the Victoria’s chain of no-cases COVID-19 will allow travelers to return to Western Australia without quarantine..

The legislation places greater public health emphasis on food allergies; Sesame is recognized as a major allergen. The passage of this bill by the House of Representatives represents substantial bipartisan support for classifying sesame as a major allergen.. AAFA led the way with advocacy efforts on the clear labeling of sesame. This includes raising the alarm for listing sesame on bills like the FASTER Act and asking the FDA to take action.. . C. , Nov. 17, 2020 (GLOBE NEWSWIRE) – The House of Representatives today passed H.. . R. 2117. Named the Food Allergy Safety, Handling, and Research Act, it is readily known as the FASTER Law. The law will help speed up and expand government data collection on food allergies. It also lists sesame as a major food allergen. It’s a move praised by the Asthma and Allergy Foundation of America (AAFA).. AAFA led the way in making sure that the sesame designation was included in legislation. This legislation is in line with our efforts to include sesame on food labels. We worked on two paths to make this a reality. The first is to ensure that the Food and Drug Administration uses its authority to make food labels more visible if a food contains sesame. . « The second is to pass the law through Congress, » said Kenneth Mendes, CEO and president of AAFA.. «  We will take any route that gets us there soon to protect those with a life-threatening sesame allergy. In addition to sesame being listed as the best food allergen under the law, H.. R. 2117 has other major functions. The Centers for Disease Control and Prevention (CDC) will work to improve how food allergies are tracked nationwide. The legislation also directs the National Institutes of Health (NIH) to study the financial impact of a food allergy. Seeing the fastest law passing through the House of Representatives with bipartisan support is an encouraging sign that we are heading in the right direction. « It shows that our community is being heard, » said Gina Reimschneider, AAFA Advocacy Director.. There is limited time to take action on this in the current Senate. We look forward to getting this bill passed in the next Congress and signing it into law. AAFA thanks Actress Doris Matsui (D-CA) for her dedicated leadership on this bill. AAFA encourages members of our community to ask Congress to enact the FASTER Act. Advocacy efforts can be supported through AAFA’s Children with Food Allergies Division through a safe donation here: Supporting Children with Food Allergies About AAFA Founded in 1953, it is the oldest and largest non-profit organization dedicated to saving lives and reducing the burden of disease on people who suffer From sensitivity. Asthma, Allergy, and Related Conditions through Research, Education, Advocacy and Support. AAFA provides extensive support to individuals and families with asthma and allergies, such as food allergies and atopic dermatitis (eczema).. Through online patient support communities, and its network of local chapters and support groups, AAFA empowers patients and their families by providing practical, evidence-based information, programs, and community services.. AAFA is the only asthma and allergy advocacy group certified to meet the standards of excellence set by the National Health Council. For more information, visit. Ava. Deer. Attachment * Faster scrolling at home Contact: Kaffe Brown, Public Relations Director, Asthma and Allergy Foundation of America 2029741223. org

On Thursday, New Zealand celebrates ten years since the worst workplace disaster in modern times, the Pike River Mine Explosion, which killed 29 men.

The case of three young women accused of making false statements about the Queensland border has returned to court after traveling to Victoria, which was devastated by the Coronavirus. .

Rear shot of the all-new Infiniti QX55 unveils the all-new QX55 front shot of the all-new Infiniti QX55, the Infiniti QX55 Aloe Blacc reveals the all-new Infiniti QX55 performance flowing with star aloe Blacc, powered by Live Nation, highlights the link Infiniti QX55 in the spirit of the brand Aloe Blacc helps unveil the all-new streaming performance of the Infiniti QX55 starring Aloe Blacc, Powered by Live Nation, Highlighting the Infiniti QX55’s connection to the brand’s spirit * Streaming performance highlights superstar Aloe Blacc, Powered by Live Nation, The QX55 is connected to the brand’s spirit. * Provocative shape and corrupt interior highlight the all-new SUV, destined for Canada and the U. s. In Spring 2021 * standard 20-inch wheels, wireless compatibility with Apple CarPlay ™, and intelligent four-wheel drive standard for all models in North America, YOKOHAMA, Japan, and MISSISSAUGA, Ontario, November. 17, 2020 (GLOBE NEWSWIRE) – INFINITI today launched the all-new QX55 SUV with a unique live-streaming experience from Los Angeles. . The Infiniti QX55 is the spiritual successor to another unique moment: the Infiniti FX. Like its predecessor, the QX55’s bold roofline and provocative look match bold buyers alike. The QX55 doesn’t have something for everyone – it aims to be everything for some people. «  The new Infiniti QX55 is a statement-maker, designed to provide first-class comfort and stand out everywhere you go.. It’s a unique blend of style and substance, said Peyman Kargar, Chairman of Infiniti. The superhero QX55 was unveiled for the show by global superstar Aloe Blacc, whose music is linked to Infiniti with its liveliness and unmistakable sound. Known for his signature songs, « The Man, » « Wake Me Up, » and « I Need a Dollar », Blacc’s performance has set the table for a new era of exciting vehicles.. Blacc’s performance at the iconic Belasco Theater in Los Angeles was coupled with immersive discussions with Senior Vice President of Global Design Alfonso Albisa, General Manager, Infiniti, Product Strategy and Planning Eric Rego in Tokyo, and brand president Cargar’s introduction to the starry night. With Live Nation. The All-New QX55 is stylish. It looks elegant and feels like quality. Ultimately, the only thing I want to deal with is quality. From the musicians I choose, to the food I eat, to the car I drive. I’d love to know that something is designed with an intention and purpose and that there is a quality behind every scale of it,  » Black said. The QX55 design retains all the hallmarks of a bold Infiniti design, providing a fresh interpretation of the FX silhouette.. The QX55 includes Infiniti once again in a category it helped create in an unapologetic manner. The distinctive double arch grille is complemented by a striking origami-inspired mesh pattern that provides visual depth and showcases Japanese-inspired modern art.. The QX55, surrounded by standard LED headlights that mimics the human eye, announces its arrival in style. Along the sides of the body, the QX55’s attractive profile has a lot to say but does not speak of its role. Sleek, flowing lines extend from the hood, over the front fenders, across the doors and over the rear wheels. 20-inch wheels are standard on all QX55 models, which fill the wheel arches and underline the dynamic presence of the SUV.. The rear of the QX55 accentuates the automaker’s design precision and interpretation of Japanese simplicity by combining an uncluttered tailgate with cool, minimalist technology to give a lasting impression. Digital ‘piano key’ taillights combine 45 separate lights into a single body to create a stylish light signature, recently featured in the stunning QX60 Monograph design study. The INFINITI logo on the tailgate is similarly advanced and houses the power liftgate, freeing the rear end from clutter.. . Inside, the QX55 features a dual-screen Infinity Display, InTouch infotainment system with Apple CarPlay compatibility and multiple USB inputs for Android Auto compatibility and charging.. The 8-inch, bottom, and 7-inch high-resolution displays inform driver and passenger entertainment through an available Bose audio system that is connected through up to 16 speakers, providing a concert like audio experience. Leather, leather or semi-aniline seat appointments adorn the QX55’s spacious cabin, and second-row sliding seats offer flexible load capacity or more legroom, as needed. Under the hood of every QX55 is an innovative and award-winning Infiniti four-cylinder turbo engine that produces 268 horsepower and 280 pound-feet of torque.. The dynamic engine changes its pressure and displacement imperceptibly to provide improved efficiency or on-demand power, based on the driver’s needs. That power is transmitted via a confident, continuous variable transmission with manual shift mode and delivered to INFINITI’s intelligent all-wheel drive system, which is standard on all QX55 models in Canada and U. s. The driving mode selector enables the driver to programmable settings (Standard, Economy, Sport and Personal) to customize each drive. The all-new QX55 is available in select markets worldwide in up to three well-equipped grades: LUXE, ESSENTIAL ProASSIST and SENSORY.. . s. In the spring of 2021, other major markets will soon follow. About Infiniti Infiniti Motor Corporation is headquartered in Yokohama, Japan and has operations around the world including regional offices located in the Americas and China and the INFINITI international markets and headquarters in Dubai.. The Infiniti luxury car brand is assembled at manufacturing facilities in Japan, North America and China. Infinity design studios are located in Atsuji Shi near Yokohama, London, San Diego and Beijing. . More information about INFINITI and its industry-leading technologies can be found at www. Infinity. Com. You can also follow Infiniti on Facebook, Instagram, Twitter, LinkedIn and watch the latest videos on YouTube. Pictures accompanying this announcement are available at: https: // www. globenewswire. Com / NewsRoom / AttachmentNg / 7bc31b88-9df8-4192-aa97-c244fc317338https: // www. globenewswire. com / NewsRoom / AttachmentNg / a8284cab-cea9-4fab-acf9-0e93133a0a4fhttps: // www. globenewswire. Com / NewsRoom / AttachmentNg / b3c6ed0d-07c5-45e0-81ec-d77007377384https: // www. globenewswire. com / NewsRoom / AttachmentNg / 368166c9-9197-4016-bbf3-f511fbfbaf07 The B-roll videos accompanying this announcement are available at: https: // globalcommsdml. Com / share. html? token = 9d90e971-cdeb-4029-88cd-19b5a23639af&theme = 5 Online disclosure of the all-new Infiniti QX55 is available at YouTube: https: // www. Youtube. com / watch? v = pgx2ZEeiYJY&feature = youtu. Get in touch: Contacts – Infiniti Communications Canada Didier Marsood Infiniti Canada Communications Director Didier. @ marsaud @ infinticanada. Com Jane McCarthy Director of Infiniti Canada Product Communications Jennifer. Embed a Tweet. Com

Compare the best early SSD deals for Black Friday 2020, including discounts on Samsung, Kingston, and Seagate SSD devices

Save on Kay Jewelers deals on early Black Friday 2020 sales, including women’s bands, and religious jewelry sales & Gemstone Bracelets

Parliament’s audit committee takes a look at the controversial land sale at Sydney West Airport, as the Federal Police investigation continues.

Madison, Wes. , Nov. 17, 2020 (GLOBE NEWSWIRE) – Alliant Energy Finance, LLC (« AEF »), a wholly owned subsidiary of Alliant Energy Corporation (« the Company ») (NASDAQ: LNT) has announced pricing of a $ 200 million special offer. Total principal amount 1. 400% is unsecured banknotes. The banknotes mature on March 15, 2026. The offer is expected to close on November 20, 2020, as per the usual closing terms. The company will fully and unconditionally guarantee the bonds on an unsecured basis. The net proceeds of this offer are intended to be used to reduce the company’s outstanding commercial paperwork and for general corporate purposes. The banknotes will be offered and sold to eligible institutional buyers pursuant to Rule 144a under the Securities Act 1933, as amended (the “Securities Act”), and to third parties.. s. Persons in offshore transactions depending on Regulation S under the Securities Act. Notes have not been recorded and will not be recorded under the Securities Act and may not be offered or sold in the United States in the absence of registration or an applicable exemption from the registration requirements of the Securities Act and securities laws of any applicable jurisdiction.. This press release does not constitute an offer to sell these securities or a solicitation for their offering, and there will be no sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be illegal prior to registration or qualification under the securities laws of any state or Jurisdiction. Forward-looking statements The statements in this press release that are not historical facts are forward-looking statements intended to qualify for the safe haven from liability stipulated in the Securities Litigation Reform Act 1995.. These forward-looking statements may be identified as such because the phrases include words such as “may,” expect, “will,” “will,” “expected,” or other words of similar importance.. These forward-looking statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those expressed in or implied in these statements.. . Some, but not all, of the risks and uncertainties that could materially affect actual results include, among others: * Meeting the usual closing conditions associated with offering bonds; Capital market risk. And * the impact of general economic or industrial conditions. There can be no guarantee that the securities submission will be completed according to expected conditions, or at all. For more information about the potential factors that could affect AEF’s business and companies and the company’s financial results, please review the “Risk Factors” in the Corporate Annual Report on Form 10-K for the fiscal year ending December 31, 2019, and the Quarterly Report on Form 10-Q for the quarter. Ended September 30, 2020, filed to the Securities and Exchange Commission (“SEC”) and in other company filings with the SEC. These factors must be taken into account when evaluating forward-looking statements, and undue reliance should not be placed on such statements. The forward-looking statements listed here are issued with effect from the date of this law, and except as required by law, the company and AEF are under no obligation to publicly update these statements to reflect subsequent events or circumstances.. Media Contact: Scott Rijstad (608) 458-3145 Investor Relations: Susan Gill (608) 458-3956

(Bloomberg) – India’s macroeconomic woes are attracting a new wave of global investors betting that they can profit from the growing number of capital-hungry companies struggling to stay afloat. Some global heavyweight companies such as Apollo Global Management Inc. And Oaktree Capital Group has either concluded recent Indian deals or strengthened their teams in the country in an effort to invest in troubled assets.. New York-based Cerberus hired a former Apollo and Citigroup veteran to establish and lead an office in India in 2019, and this year competed with Ares Management Corp.. Backed by SSG Capital Management to control a failing shadow lender. The latest example of foreign investor intervention came on Tuesday, when India’s central bank requested Singapore-based DBS Group Holdings Ltd.. India’s unit acquires capital-hungry Lakshmi Vilas Bank Limited. Watch the Bloomberg India Economic Forum 2020 here, researcher Venture Intelligence calculates the money has already pumped in $ 1. 5 billion non-performing assets in India this year, up 55% over the whole of 2019. This data captures only deals that have closed and does not include other recently announced deals such as an Actuary loan of 22 billion rupees ($ 294 million) to lender Indiabulls Housing Finance Ltd.. In July. India has struggled in recent months to control the coronavirus epidemic, reporting the largest number of infections after the U. s. And suffered the worst economic downturn among the major economies around the world. However, even before the pandemic, the country was grappling with one of the world’s worst bad debt problems in its financial sector, which claimed a series of lenders and left banks reluctant to lend to the most vulnerable companies.. International funds are now trying to fill this void. As such, they face a series of challenges including India’s complex regulatory framework and tax laws, which often require intricately regulated transactions.. Deals often take a long time to close or even fail. However, many investors are betting that long-term factors will bring them returns. “Economic growth, demographics and stressed assets will come together in India in the next decade, giving investors the chance of a lifetime,” said Jay Sarraf, founder of London-based Nithia Capital.. . The company is focusing on stressed assets in the steel sector and has agreed to purchase a steel plant in India along with CarVal Investors,. s. The existing hedge fund. Part of the appeal of the biggest global investors is the nature of the country’s emerging financial markets. While conventional banks have focused on clearing piles of bad debt, shadow lenders have stepped in to keep money flowing. But the collapse of an infrastructure financier two years ago led to a cash crisis that slowed corporate lending. Mutual funds that participate in the riskier portion of the credit market have also tumbled, and Franklin Templeton earlier this year suffered the largest forced closure of funds in India.. . Read recent comments from Howard Marx of Oaktree, Indian banks had the worst bad loans in the world among major economies even before the strict lockdown began in March, squeezing economic activity.. The central bank now estimates that declining assets will rise to their highest level in more than two decades at 12. 5% by the end of March 2021, starting from the 8th. 5% a year ago, a sign of difficulties facing business. Apollo partner Nippon Sahni, who in April terminated his joint venture with a local bank, said India’s domestic financial market lacks the capacity to fund the risky capital needed to solve the resulting stressful assets.. . In December last year, a consortium led by Goldman Sachs Group. Global investment firm Varde Partners LP has agreed to buy 65. 75 billion rupees ($ 922 million) in debt from an Indian power company in one of the largest restructuring deals outside bankruptcy court in the country. While the Wall Street giant invests heavily in growing companies in the country, the deal through a structured credit trading bureau offers a look at the opportunities big-name investors are seeing in Indian companies that have faced cash shortages.. Haseeb Malik, Partner and Head of Corporate Asia and Traded Credit at Varde Partners, said the underlying Indian economy remains supported by compelling demographic and economic growth trends, creating significant opportunities for investors.. . “We expect to see a massive wave of enthusiastic sellers of high-quality assets, and deeper balance sheet restructuring in the medium to long term,” Malik said.. . Los Angeles-based Ares – another global credit giant – has bought a majority stake in the Asia-focused hedge fund SSG Capital, giving it access to the dealmaking team in India.. Local funds are also piling up. Mumbai-based Kotak Investment Consultants raised more than $ 900 million in special case funds last year, and expects to invest more than a quarter of that by the end of 2020.. But despite the rush to invest, problems remain. CarVal Investors says it still wants to put more money in India for the right deals, but it also sees obstacles.. Managing Director Nimrod Wei said: « One critical component missing in the Indian system is prepackaged bankruptcy, whereby existing lenders, sponsors, and new funds enter a room and strike a deal, then the court blesses it. ». . The influx of foreign funds may also increase competition and squeeze returns. Ares-backed SSG filed a failed bid against CarVal and Nithia to acquire steel assets. Meanwhile, Ares defeated Cerberus in his bid to obtain failed shadow lending, Altico Capital. However, clearing India of its financial system has a way to run, and there are « a lot of opportunities left, » he said.. Sriniwasan, managing director at Kotak. “We might not even be halfway through it and the tension could get worse before it gets better. (Adds more details) For more articles like this one, please visit us at bloomberg. comSubscribe now to keep up with your most trusted business news source. © 2020 Bloomberg LLC. s.

“We’re working hard and going early. . . Prime Minister Stephen Marshall said when he announced the draconian lockdown of South Australia.

XPRIZE, Pandemic, Coronavirus, Economy

World News – GB – XPrize’s latest challenge wants AI to better predict transmission rates of COVID-19
. . Related Title :
XPrize& # 39; The final challenge wants the AI ​​to better predict the transmission rates of COVID-19.
$ 500k on the table in AI vs.. COVID Competition
– <a href = "/? S = XPRIZE and Cognizant announce the pandemic response challenge to safely reopen societies and restart economies . . . XPRIZE and Cognizant announce the challenge of responding to pandemics to safely reopen societies and restart economies . . .


Donnez votre avis et abonnez-vous pour plus d’infos

Vidéo du jour: