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Eco/Invest/Demography

At least 10 dead in Mumbai building collapse, several feared trapped

Satya Pradhan, the chief of the National Disaster Response Force, said in a tweet that 20 to 25 people were reportedly trapped, and rescue teams had been dispatched.

Building collapses are commonplace in India, particularly during the seasonal monsoon rains, due to old and often illegal construction. There was no immediate reason provided for the latest incident in Bhiwandi.

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Cabinet note ready for vehicle scrapping policy: MoS VK Singh informs Rajya Sabha

On July 26, 2019, the government had proposed amendments to motor vehicle rules to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electrical vehicles.

In a draft notification, the government proposed renewal of fitness certificates for vehicles older than 15 years every six months instead of the current time-frame of one year.

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DCGI approves commercial launch of low cost Covid-19 test ‘Feluda’

The Tata CRISPR test is the world’s first diagnostic test to deploy a specially adapted Cas9 protein to successfully detect the virus causing COVID-19, it said.Moreover, CRISPR is a futuristic technology that can also be configured for detection of multiple other pathogens in the future.
Commenting on the development, Girish Krishnamurthy, CEO, TATA Medical and Diagnostics Ltd said, “The approval for the Tata CRISPR test for COVID-19 will give a boost to the country’s efforts in fighting the global pandemic.

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COVID-19: India’s single-day recoveries exceed fresh cases as record 95,880 recuperate

The COVID-19 case fatality rate has further dropped at 1.61 per cent, the data showed.

There are 10,13,964 active cases of COVID-19 in the country, which constitute 19.10 per cent of the total caseload, the data stated.
Meanwhile,India’s parliament session that began this week is likely to be cut short after 30 lawmakers were found infected with the coronavirus, two senior parliament officials said, as the number of cases in the country rose to 5.3 million.

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Insurers should pay quickly after UK pandemic ruling: Watchdog

“Our objective remains to ensure that slow payment does not exacerbate financial pressures on policyholders,” the letter from Interim Chief Executive Christopher Woolard said, adding that the FCA could use its regulatory powers if it thought insurers were acting too slowly.

The lawsuit has attracted a lot of attention because it is estimated to affect 370,000 businesses, 60 insurers and billions of pounds in insurance claims.

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Businesses call on U.S. insurers to ditch fossil fuel underwriting

“The insurance industry is underwriting and investing in fossil fuels which we now know are the key drivers of climate change,” they said.”As insurance customers, we are therefore expressing our desire for insurance coverage in the U.S. market that isn’t tied to supporting fossil fuels and actively supports renewable energy.”

U.S. insurers reported almost $7 trillion in cash and invested assets, according to the National Association of Insurance Commissioners.

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Covid-19 may lead to decline in life expectancy globally, study finds

At prevalence rates of only 2 per cent, the disease could cause a drop in life expectancy in countries where average life expectancy is high — roughly around 80 years.

At 10 per cent prevalence, the loss in life expectancy is likely to be above one year in high life-expectancy countries such as those in Europe and North America,

At 50 per cent, it would translate into three to nine years of life lost in high life-expectancy regions. In less developed regions, the impact is smaller given that there is already lower survival at older ages.

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Phased unlocking since June 1 has revived economic activities: Govt

With the phased unlocking of the Indian economy since June 1, 2020, high frequency economic indicators like PMI Manufacturing, index of eight core industries, E-way bills, Kharif sowing, power consumption, railway freight, cargo traffic and passenger vehicle sales have recovered and indicate growing convergence with previous year’s activity levels,” Union Minister of State for Home Nityanand Rai said in the Rajya Sabha

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Rajya Sabha passes bill to punish those attacking Healthcare workers

The healthcare service personnel include public and clinical healthcare service providers such as doctors, nurses, paramedical workers and community health workers; any other persons empowered under the act to take measures to prevent the outbreak of the disease or spread thereof; and any persons declared as such by the state government, by notification in the official gazette.

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