When it comes to disaster response, the ECB sees insurers as the...
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Beijing records heaviest rainfall in at least 140 years, causing severe flooding and 21 deaths
The severity of the flooding took the Chinese capital by surprise....
Cyclone Biparjoy costs Gujarat economic loss of Rs 1212.50 cr
As per the memorandum received from the state government of...
COVID-19: India is not in community transmission stage, says ICMR
A large proportion of the population is still susceptible and risk is higher in urban areas (1.09 times) and urban slums (1.89 times) than rural areas, Indian Council of Medical Research (ICMR) Director General Balram Bhargava
5.5 lakh COVID-19 cases in Delhi by July 31 possible, community transmission is on: scientists
“The model that I used for India found that there could be around 8-10 lakh cases in India by mid or end of July. So it won’t be surprising to get to those figures (5.5 lakh) in Delhi,” said Samit Bhattacharya, mathematics professor and researcher at the School of Natural Sciences at Shiv Nadar University.
Global food emergency imminent; 49 mn may fall into extreme poverty: UN
“There is more than enough food in the world to feed our population of 7.8 billion people. But, today, more than 820 million people are hungry. And some 144 million children under the age of five are stunted — more than one in five children worldwide. Our food systems are failing, and the Covid-19 pandemic is making things worse,” the UN chief said in his video message for the launch of UN policy brief on the impact of Covid-19 on food security and nutrition on Tuesday, Xinhua news agency reported.
Asia braces for insolvency storm amid COVID-19 fallout
In India and Singapore where credit sales fell, overdue invoices still surged by 69% and 29% respectively. India’s decline in credit use might even be the result of its dramatic rise in overdues.Andreas Tesch, Chief Market Officer of Atradius, said:
French govt to probe its own COVID-19 response
“The government is accountable to parliament. If parliament thinks (the outbreak) has been handled badly, then it must challenge the government’s response,” Justice Minister Nicole Belloubet told RTL radio.Belloubet was speaking after Paris prosecutors opened a preliminary inquiry into government actions to determine whether any criminal offences may have been committed.
Virus pummels global economy, jobs – even without 2nd wave
Gurria argued that “presenting the problem as the choice between lives and livelihoods, meaning a choice between health and the economy, is a false dilemma.
If the pandemic is not brought under control, there will be no robust economic recovery.”In case of a second wave of contagions, the OECD forecast that the average unemployment rate across the 37 developed countries that it represents would double this year to 10% and see “little recovery” in 2021. In the more optimistic scenario, the figure would be 9.2%. In poorer countries, the numbers are often higher, and informal workers are especially vulnerable.
80% of working Indians have experienced income loss: Generali study
95 per cent of Indians surveyed expect some form of relief in the case of income loss. 53 per cent of those who have experienced losses expect help from the government. 60 per cent are planning to dig into their savings and investments, while 39% expect help from family members. Significantly, 40 per cent of Indians expect their employers to step in with some form of relief.
India records 9,985 new COVID-19 cases, 279 fatalities; death toll rises to 7,745
Out of the total 7,745 fatalities, Maharashtra tops the tally with 3,289 deaths, followed by Gujarat with 1,313, Delhi with 905, Madhya Pradesh with 420, West Bengal with 415, Tamil Nadu with 307, Uttar Pradesh with 301, Rajasthan with 255 and Telangana with 148 deaths
India’s economy to shrink further in fiscal year 2020-21:World Bank
International rating agencies like Moody’s Investors Service, Fitch Rating and S&P Global Ratings have all predicted a 4-5 per cent contraction in India’s economic growth rate during April 2020 to March 2021 fiscal. Crisil has said this would be the country’s fourth recession since Independence, first since liberalisation, and perhaps the worst to date.
Covid-19 Pandemic:Life insurers’ new premium income falls 26 % to Rs 13,739 crores in May
In terms of policies, the industry has seen its numbers plunging by almost 60 per cent y-o-y to 11, 12,2411 in the first two months of the fiscal.For the month of May, at 5,071,992, the industry has almost lost 65 per cent in the same category.