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Global coronavirus cases surpass 60 million infections
An analysis of the Reuters data showed the rate of new infections picking up globally. It took just 17 days to go from 50 million cases to 60 million, compared with the 21 days it took to go from 40 million to 50 million. Around 580,000 cases have been reported each day over the past week and around half of all cases since the start of the pandemic were reported over the past 70 days.
In Europe, 1 million new cases were recorded over just five days, for a total of more than 16 million cases, including 365,000 deaths.
No-deal Brexit will do more damage to the economy than the coronavirus, Bank of England governor warns
“Well, I think the long-term effects … would be larger than the long-term effects of COVID,” Bailey said when asked by a lawmaker about the consequences for the economy if Britain and the European Union fail to strike a post-Brexit trade deal.
London and Brussels remain locked in negotiations ahead of the Dec. 31 expiry of Britain’s Brexit transition period.
Bank operations may be hit by unions’ one-day nationwide strike on Thursday
“Lok Sabha in its recently held session has passed three new labour enactments by dismantling existing 27 enactments in the name of ‘Ease of Business’, which are purely in the interest of corporates.
“In the process, 75 per cent of workers are being pushed out of the orbits of labour laws since they will have no legal protection under the new enactment,” the AIBEA said in a release.
Pandemic Is a Surprise Boon for Women in the World’s Back Office
“There is so much talent in smaller cities that has been untapped so far,” said Madhavi Lall, head of human resources at Deutsche Bank India. “Flexible work arrangements would certainly bring that talent to the fore, especially women who find it difficult to migrate or shift their base.”
The pandemic has pushed discussions on future work models and strategies, especially with regard to arrangements like staggering employee shifts, rotating days or weeks of in-office presence, she said. And that along with the change in India’s government rules will enable more women to join the workforce.
Sebi eases surveillance steps implemented to curb Covid-induced volatility
The surveillance measures, announced in March, are in force till November 26. They are aimed at ensuring orderly trading and settlement, effective risk management, price discovery and maintenance of market integrity.
Among the measures, the watchdog had increased the margin requirement for non-F&O stocks in cash market and revised Market Wide Position Limit (MWPL) from 95 per cent to 50 per cent of existing levels in a phased manner.
On Wednesday, Sebi said these two measures would be relaxed with effect from close of business on November 26.
Japanese FWD Fuji Life adopts Swiss Re’s automated underwriting solution, to offer digitalised customer experience
FWD Fuji Life customers can digitally submit their information and receive initial policy offerings directly at the point of sale, substantially simplifying the customer journey without the hassle of handling paper forms. Applications are automatically checked for any incomplete information to further speed up the process. Customers get their policies on the spot, and they are better protected with the right questions asked via Magnum.
MHA guidelines: Local restrictions like night curfew allowed; Prior consultation with Centre needed for any lockdown outside containment zones
The state and UT governments will take all necessary measures to promote COVID-19 appropriate behaviour and to ensure strict enforcement of wearing of face masks, hand hygiene and social distancing. In order to enforce the core requirement of wearing of face masks, authorities may consider administrative actions, including the imposition of appropriate fines, on persons not wearing face masks in public and workspaces.
Lakshmi Vilas Bank-DBIL merger effective from Nov 27: RBI
Depositors of LVB will be able to operate their accounts as customers of DBS Bank India with effect from Friday.
“Consequently the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date,” it said.
China announces eradication of extreme poverty in last poor counties
China sets its own national standard of extreme poverty, based on a per capita income threshold of 4,000 yuan per year, or around $1.52 per day, and other factors such as access to basic healthcare and education. That compares with a threshold of $1.90 per day set by the World Bank to measure extreme poverty globally
The milestone was achieved by lifting 93 million people out of poverty since 2013, China’s government said. Foreign ministry spokesman Zhao Lijian told a press briefing on Tuesday that China was prepared to share its experience with other developing countries.
Ransomware, attacker behaviour to shape IT security in 2021
Another ransomware trend is “secondary extortion”, where alongside the data encryption the attackers steal and threaten to publish sensitive or confidential information if their demands are not met.