"The outlook revision reflects increasing risks to China's public...
Category:
Eco/Invest/Demography
Latest
IDF announces plans to facilitate investments in resilient infrastructure in emerging markets
Philipp Hildebrand, Vice Chairman of BlackRock, said,``“BlackRock...
Global trade growth to rebound this year; geopolitical tensions pose downside risks: WTO forecast
WTO Director-General Ngozi Okonjo-Iweala said, “We are making...
UK study finds evidence of waning antibody immunity to COVID-19 over time
Those whose COVID-19 was confirmed with a gold standard PCR test had a less pronounced decline in antibodies, compared to people who had been asymptomatic and unaware of their original infection.
Global foreign direct investment halved in first six months of 2020 – U.N
“Global FDI flows for the first half of this year went down by close to half… It was more drastic than we expected for the whole year,” James Zhan, director of UNCTAD’s investment and enterprise division, told a news conference.
The flows are expected to decline by 30 to 40% this year and “moderately” in 2021, by 5 to 10%, Zhan said.
AI Kozhikode crash costs re/insurers the highest Indian aviation claims of Rs 660 cr, New India settles full Hull claim of Rs 373.83 cr in a record time
“The payment for aircraft Hull has been made within two working days after receiving necessary documents from reinsurers, setting high standards of service, reliability and always standing with our clients in the times of need and distress. It speaks volumes of our financial strength, cash liquidity and the trust bestowed on us by entire Indian air line industry as we are writing almost all commercial airlines in India,’’ said Atul Sahey, CMD, NIA.
The Air India insurance account is majorly reinsured ,above 95 per cent, in London market with global re/insurers like AIG,AXA Allianz and GIC Re providing the reinsurance capacity.Leading aviation and liability broker Global Insurance Brokers was the broker for the AI cover. .
Delhi nearing third peak, situation worrisome in WB, Kerala: NITI Aayog
“Countries with much better economies, health and infrastructure systems are succumbing to the pandemic, which is a lesson for India. We are fortunate that our journey is in another direction where the cases are showing a downward trend. Recoveries are soaring, and active cases are falling,” he added.
EU warns not enough COVID vaccines for all in Europe until 2022
Given a likely limited supply, the Commission has for months urged EU governments to devise vaccination plans that would prioritise vulnerable and essential groups, such as healthcare workers, the elderly or people with chronic diseases.
But apart from a consensus on inoculating doctors and nurses, “there is no common line on other groups,” the Commission official said at the internal meeting this week.
Arctic headache for ship insurers as routes open up
As climate change opens new sea routes, experienced polar captains like Whatley are coveted for Arctic voyages that can save money on the run between Europe and Asia. But as activity in the Arctic’s waters picks up, insurance companies are grappling with a fundamental question: If something goes wrong, who pays?
So far, it’s unclear that the cost of a major accident would be completely covered by insurance. Damages from a ship spilling oil, hitting an iceberg or becoming marooned can run into the hundreds of millions of dollars.
Epidemic & Pandemic insurance contracts less ambiguous in Asia:Peak Re CEO
“Specifically, when you look at COVID-19, this part of the world is going through its fifth epidemic this century, and this century is only 20 years old. There are much less problems on the wordings side in respect of pandemics in Asia,” Franz-Josef Hahn, chief executive officer, Peak Re said.
Looking ahead to January 1, 2021 renewals,Hahn highlighted that the period represents a chance for reinsurers to “correct pricing” – a move he believes necessary for the development of a “sustainable” marketplace. Otherwise, [the marketplace] is not going to go any further and no capacity will be provided any longer,” .
The poor now linked to banking system, have access to loans: PM
The PM SVANidhi scheme was launched on June 1 this year to help poor street vendors, impacted by economic distress due to the COVID-19 pandemic, in resuming livelihood activities. Around 25 lakh applications have been received of which 12 lakh have been sanctioned.
UK Vaccine Taskforce Chair says early COVID-19 vaccines may be imperfect – The Lancet
“However, we do not know that we will ever have a vaccine at all. It is important to guard against complacency and over-optimism”, UK Vaccine Taskforce Chair Kate Bingham wrote in a piece published in The Lancet medical journal.
“The first generation of vaccines is likely to be imperfect, and we should be prepared that they might not prevent infection but rather reduce symptoms, and, even then, might not work for everyone or for long,” she added.
Winter survival test is coming for airlines as coronavirus cases rebound
One exception is in China, where the pandemic is in check and domestic flights have surged past where they were a year ago. In the U.S., airlines carried 1 million passengers on a single day for the first time since March. Still, air travel is at about the level it was more than three decades ago.