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RBI holds rates steady but eyes food price spike; signals tighter policy
Shaktikanta Das,Governor,Reserve Bank of India "Liquidity plays a...
US business owners seek increased insurance protection amid mounting risks – study
“The devastation caused by natural disasters has heightened urgency...
U.S. insurers use lofty estimates to beat back coronavirus claims
The industry has warned it could cost them $255 billion to $431 billion a month if they are required, as some states are proposing, to compensate firms for income lost and expenses owed due to virus-led shutdowns, an amount it says would make insurers insolvent.
France looks to insure businesses for future pandemics
France’s private insurers would provide business-interruption cover of up to 2 billion euros ($2.2 billion) a year in total for small companies hit by the fallout of any future pandemics, under a system proposed by the industry body.
The proposals, which would not apply to the current crisis, are aimed at helping 2.9 million small and mid-sized companies to cover some losses should they be required by the state to shut down their businesses if disaster strikes again.Under the proposed mechanism, known as CATEX, private insurers and reinsurers would provide coverage of up to 2 billion euros annually to businesses overall, beyond which the state would step in via public reinsurer CCR.
The new guarantee would be built into either fire insurance contracts, which all France companies have; or into business interruption policies, which 50% of businesses have.
Govt says no community transmission of Covid-19 yet, but experts disagree
“It’s just that the health authorities are not admitting it. Even ICMR’s own study of SARI (severe acute respiratory illness) showed that about 40 per cent of those who tested positive for SARS-CoV-2 did not have any history of overseas travel or contact to a known case. If this is not community transmission, what is,” Leading virologist Shahid Jameel
Mumbai braces for monsoon diseases amid strain of a pandemic
This year the city’s hospitals are already overrun. Mumbai has been hit the hardest by COVID-19. About 25% of India’s 297,535 coronavirus cases and roughly 29% of the 8,498 deaths recorded have come from the city and its surrounding suburbs.
Researchers in Thailand testing horseshoe bats for coronavirus
The World Health Organization (WHO) in April said that all available evidence suggests that it originated in bats in China, but it was not clear how the virus had jumped the species barrier to humans.
Remdesivir rollout to take more time as pharma firms working on providing safety, quality data
The Union Health Ministry on Saturday, in its revised ‘Clinical Management Protocol for COVID-19’, recommended the use of remdesivir under emergency use authorization on patients with moderate disease — that is those on oxygen support. It is not recommended for those with severe renal impairment and in children less than 12 years, pregnant and lactating women.
Loss of smell or taste added to list of COVID-19 symptoms: Health Minister
The ministry said that coronavirus-infected patients reporting to various Covid-19 treatment facilities have been reporting symptoms like fever, cough, fatigue, shortness of breath, expectoration, myalgia, rhinorrhea, sore throat and diarrhea.
India records over 10,000 COVID-19 cases in single day, tally nears 3 lakh: Health Ministry
Of the 396 new deaths reported till Friday morning, 152 were in Maharashtra, 101 in Delhi, 38 in Gujarat, 24 in Uttar Pradesh, 23 in Tamil Nadu, 12 in Haryana, 10 in West Bengal, nine in Telangana, six in Rajasthan, four each in Madhya Pradesh and Punjab, three each in Bihar and Karnataka, two each in Andhra Pradesh, Assam and Puducherry and one in Jammu and Kashmir.
Poverty may surge to over 1 billion due to coronavirus, warns study
Because millions of people live just above the poverty line, they are in a precarious position as the economic shock of the pandemic plays out. In a worst case scenario, the number of people in extreme poverty – defined as earning under USD 1.90 a day – is forecast to rise from about 700 million to 1.1 billion, according to the report, which was published by the United Nations University World Institute for Development Economics Research.
People’s movement from 9 pm-5 am prohibited; buses, trucks can ply on highways: MHA
“I would like to clarify that the purpose of restricting movement of individuals, except for essential activities, between 9 pm and 5 am, is primarily intended to prevent congregation of persons and to ensure social distancing,” Union Home Secretary Ajay Bhalla said.