Top headlines: Revellers celebrate New Year, China Covid fight in new phase

Business Standard brings you the top headlines at this hour

Revellers throng to New Year's parties across world after Covid hiatus

Revellers in major city centers across Europe and the Middle East were ushering in 2023 with countdowns and fireworks, as many cities around the globe celebrated New Year's Eve without restrictions for the first time since the start of the coronavirus pandemic.

Children crowded a metro station in Kharkiv, Ukraine, to meet with St. Nicholas and enjoy a special performance ahead of the new year. Meanwhile, some soldiers who said they usually celebrate the holiday with family decided to stay in the trenches as they sought to defend their country.

Others in Ukraine returned to the capital, Kyiv, to spend New Year's Eve with their loved ones. As Russian attacks continue to target power supplies, leaving millions without electricity, no big celebrations were planned. A curfew was to be in place as the clock struck midnight. Read more

Immediately fix incorrect map of India: Rajeev Chandrasekhar tells WhatsApp

Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on Saturday told Meta-owned WhatsApp to immediately fix an incorrect map of India in its New Year celebration live-streaming link.

The minister reiterated that all social media platforms that do business in India must use correct maps.

"Dear @WhatsApp Rqst that u pls fix the India map error asap. All platforms that do business in India and/or want to continue to do business in India, must use correct maps," said Chandrasekhar.

WhatsApp's in a tweet confirmed of the correction. In a tweet, the company's official handle said: "Thank you Minister for pointing out the unintended error; we have promptly removed the stream, apologies. We will be mindful in the future." Read more

Covid fight in new phase, tough challenges ahead for China, says Xi Jinping

China's President Xi Jinping on Saturday acknowledged that the current wave of COVID-19 sweeping across the country has entered a new phase and tough challenges remain as the World Health Organisation (WHO) has asked Beijing to provide more data about the coronavirus variants amid India and other countries ramping up measures to screen travellers from the Communist nation.

We have now entered a new phase of COVID-19 response where tough challenges remain, Xi said in his New Year address to the nation, adding that it has not been an easy journey as the country has to face unprecedented difficulties and challenges.

Speaking on national television from behind a desk in a wood-paneled office, Xi said that China's extraordinary efforts have helped it prevail over unprecedented difficulties. Read more

53 international arrivals found Covid positive as random testing continues

A total of 53 travellers have tested Covid-19 positive after the Centre started the 2 per cent random testing process of the international passengers arriving at the airports across the country from December 24 onwards, a highly placed source said on Saturday.

The source told IANS that 5,666 samples of passengers were collected for Covid-19 testing. Of the total samples collected, 53 international travellers tested positive for Covid, said the source.

"As directed by the Prime Minister, detailed guidelines for 2 per cent random screening of international passengers on arrival were issued and 2 per cent random sampling was initiated from December 24. As many as 1,716 international flights have been screened and 5,666 samples collected for testing. Total of 53 international travellers tested positive for Covid-19 during 2 per cent random sampling," the source told IANS. Read more

Global headwinds, rate hike concerns to keep investors on guard in 2023

The Sensex and Nifty ended 2022 with 4.4 per cent and 4.3 per cent gains respectively, the seventh consecutive year of gains. A seven-year consecutive return happened only once in the past, between 1988-94 when the Sensex posted double-digit gains every year during this period. The Sensex ended the next two years with declines. In 1995 the Sensex declined 20.8 per cent. The longest winning streak of Nifty was from 2002-2007, and in 2008 it declined by 52 per cent.

Investors are relieved about the returns this year, which happened despite record foreign portfolio investor (FPI) outflows and are slightly circumspect about the next year considering the headwinds. Competition from debt returns, the Covid surge in China, elevated valuations, geopolitical tensions and questions about whether rate hikes have peaked are keeping investors on guard. Read more