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US Fed Chair Powell says ‘time has come’ for policy adjustment, hints at rate cut
US Federal Reserve Chair Jerome Powell Speculation has abounded...
IRDAI forms task force to address challenges and drive growth in surety bond market
Debasish Panda, chairman, IRDAI "Surety bonds play a crucial role...
Egypt seeks settlement out of court for Suez Canal blockage
The canal chief said last week the Suez Canal Authority was expecting more than $1 billion in compensation, warning the ship would not be allowed to leave the canal if the issue of damages turns into a legal dispute.
“We are discussing with them a peaceful resolution to the matter without resorting to the judiciary,” he said. He maintained that bringing the case before a court would be more harmful to the firm than settling with the canal”s management.
CEO Mary Barra bets GM can grow beyond cars and trucks
The veteran GM engineer’s Global Innovation team is looking for new enterprises to expand the automaker’s sources of revenue well beyond vehicle sales and is incubating ventures from commercial delivery services to vehicle insurance, to address future markets worth an estimated $1.3 trillion. That doesn’t include flying cars, a market sector that alone could be worth $1.3 trillion, Fletcher told Reuters.
The goal is to become a diversified purveyor of mobility services – the automotive equivalent of Apple, with revenue that rolls in monthly or quarterly from software and services long after the initial product is sold.
A third of Covid-19 survivors suffer neurological, mental disorders: Study
Post-COVID cases of stroke, dementia and other neurological disorders were rarer, the researchers said, but were still significant, especially in those who had severe COVID-19.
“Although the individual risks for most disorders are small, the effect across the whole population may be substantial,” said Paul Harrison, a professor of psychiatry at Oxford University who co-led the work.
Indian PM rejects calls to widen vaccine access as infections hit record
“It’s not that you can set up these big vaccine factories overnight,” Modi said addressing chief ministers of states via video conference. “Whatever production we have got, we will have to prioritise.”
Many states including Maharashtra, Gujarat, Chhattisgarh, Punjab have crossed the first wave of peak in terms of COVID-19 cases. This is a serious concern. People have become complacent. In most states administration has also become relaxed,” he said.
WHO rejects SII’s proposal seeking extension of Covishield’s shelf life from 6 to 9 months
The move comes even as India’s drug regulator has extended Covishield’s shelf life from six to nine months from its manufacturing date.
India reports 1,15,736 new COVID-19 cases, highest ever daily record
Registering a steady increase for the 28th day in row, the active cases have increased to 8,43,473 comprising 6.59 per cent of the total infections, while the recovery rate has further dropped to 92.11 per cent, the data stated.
Britain recommends non-AstraZeneca vaccine alternative to under-30s
Wei Shen Lim, COVID-19 Chair for JCVI, said that based on the available data and evidence, the committee has advised that it is preferable for adults aged under 30 with no underlying conditions to be offered an alternative to the AstraZeneca vaccine where available.
Wearing of mask mandatory even while driving alone: Delhi High Court
Justice Prathiba M Singh also refused to interfere with the Delhi government’s decision to impose challans for not wearing a mask while driving a private vehicle alone and dismissed the pleas challenging the same.
Gadkari flags off 90 ambulances for road accident victims
The 90 basic care ambulances are for Andaman-Nicobar Islands, Arunachal Pradesh, Jammu & Kashmir, Ladakh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura and Uttarakhand, Ministry of Road Transport and Highways said in a statement.
As per road accident statistics, of the 415 deaths per day in India, about 40 per cent lives can be saved if basic medical treatment is made available in time, the statement said.
RBI holds rates at record lows amid concerns over rising COVID-19 cases
India’s central bank has slashed the repo rate by a total of 115 basis points (bps) since March 2020 to soften the blow from the pandemic. This follows 135 bps worth of rate cuts since the beginning of 2019.
“The MPC judged that monetary policy should remain accommodative till prospects of sustained recovery are well secured,” Governor Shaktikanta Das said.