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Hong Kongers are fleeing to the UK. Thousands have left their homes amid fears of a crackdown from Beijing. Now, they can apply to live and work in the UK for five years.
Dubai Alliance set a goal of 2 billion doses. A collection of businesses led by air carrier Emirates hopes to distribute the vaccines by the end of the year.
The US condemned the Russian response to protests. Secretary of state Antony Blinken criticized the Kremlin’s “harsh tactics” against those protesting the arrest of Vladimir Putin critic Alexei Navalny.
US Senate Republicans are pushing back against Joe Biden’s stimulus bill. Their $600 billion counter contains no state or local aid.
Melvin Capital posted a record loss in January. The hedge fund lost 53% amid GameStop’s rise.
Amazon is set for another union fight. Thousands of warehouse workers are set to cast their mail-in ballots over whether to organize a union.
What to watch for
India’s already slowing economy severely contracted this year, hurting household incomes and businesses, and recovery has been slow and painful. So now all eyes will be on how finance minister Nirmala Sitharaman plans to fire up the sagging economy.
Here are the three key macro estimates that provide a glimpse into India’s economic health.
💗 GDP growth estimates: After spiralling down into a recessionary phase, the Indian economy is estimated to bounce back in 2021 and become the fastest-growing economy in the world.
🤔 The revenue conundrum: But to spur economic growth, India needs to spend freely, which won’t be easy. The government collected far less in taxes, and several divestment plans hit a roadblock. The fiscal deficit target was breached in August 2020 and is expected to widen further, forcing the government to borrow to plug the shortfall.
🕳 Debt trap: To fill the holes, the government borrowed an additional Rs4.2 lakh crore ($56 billion) in the financial year 2021—a 50% spike from the budgeted Rs7.2 lakh crore. Next year too, it will need to borrow and spend wisely.
Charting Joe Biden’s executive orders
Joe Biden has been president for less than two weeks, but he’s already signed as many executive orders as Donald Trump and Barack Obama did in the same period, combined.
His actions include executive orders, memorandums, and proclamations. While the authority to issue these executive actions isn’t outlined in the Constitution, meaning they can be tough to define, executive orders are nonetheless legally binding.
Biden’s orders range in focus, but reversing Trump’s actions is one clear theme. There’s the undoing of Trump’s decision to remove the US from the World Health Organization, a directive to preserve the DACA program, a repeal of the so-called Muslim ban, and a slew of orders aimed at tackling the climate crisis.
Covid tests for travelers are probably here to stay
If you’re traveling internationally this year, you should expect a Covid test on your journey.
Per recent CDC guidelines, anyone entering the US through an airport, arriving from anywhere in the world, cannot board their flight without presenting proof of a negative Covid-19 test taken no more than three days before the departure time.
While it’s a victory for an airline industry looking to adapt a global approach to testing in order to boost traveler confidence, there remains little consistency with regard to the requirements and testing protocols.
Until more airlines get on the same page, the lack of an international standard for whether testing is required, which tests are acceptable, and how testing data is shared and validated by airlines and governments leaves room for problems.
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Surprising discoveries
Apple plays defense. System upgrades mean hackers can no longer exploit a bug to install malware on users’ phones.
A forgotten mural has been unearthed in Cyprus. The 1960 painting, now the subject of a dispute, was once considered scandalous.
IKEA’s owner bought 11,000 acres of forest. The Ingka Group intends to save the land in southeast Georgia to offset its carbon footprint.
Fast food logistics to the rescue. After a South Carolina drive-through vaccination clinic became snarled with traffic, a Chick-fil-A manager was recruited to get the system running again.
Toys “R” Us closes, again. After emerging from bankruptcy with a new owner, the toy retailer’s two US stores have closed because of the pandemic.
Our best wishes for a productive day. Please send any news, comments, GameStop gift cards, and forgotten portraits to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Prathamesh Mulye, Oliver Staley, Amanda Shendruk, and Jordan Lebeau.