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Eco/Invest/Demography

Despite market volatility, LIC made Rs 13k cr profit in equity till Aug: MD

“The insurance industry had lost about Rs 45,000 crore in new and renewable premiums in the last fortnight of FY20 due to the Covid-19 pandemic. However, we have recovered well since unlocking and registered healthy growth,” LICI Managing Director Raj Kumar said at a webinar organised by Merchants’ Chamber of Commerce and Industry.

He further said, “The market now has recovered by 32 per cent from the March lows. LIC has booked a profit of Rs 13,000 crore from equity operation and is still a net investor of Rs 28,000 crore in the market.”

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Airlines in India seek $1.5 bn in interest-free credit line, says govt

The government is engaged with aircraft lessors and financiers to ensure there is no premature withdrawal of planes, Civil Aviation Minister Hardeep Singh Puri said. Local traffic has slumped almost 80 per cent to just 12 million passengers in the five months to July 31, eroding airline revenues, he said.
Close to 3 million jobs in aviation and related industries as well as more than $11 billion in revenue could be lost in India this year because of the pandemic according to the International Air Transport Association.

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Centre approved anti-viral medicines to treat COVID-19 patients, says SC

The top court was hearing a plea seeking registration of an FIR by the CBI against ten Indian pharmaceutical firms for manufacturing and selling these two medicines for treating COVID-19 patients allegedly without valid licences.
A bench comprising Chief Justice S A Bobde and Justices A S Bopanna and V Ramasubramanian referred to the New Drugs and Clinical Trials Rules, 2018 and said these medicines have been permitted by the government for using in treatment of novel coronavirus patients.

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India’s coronavirus cases jump by daily record of 97,894

The COVID-19 case fatality rate due to the coronavirus infection was recorded at 1.63 per cent.

There are 10,09,976 active cases of COVID-19 in the country which comprises 19.73 per cent of the total caseload, the data stated.
With 5.12 million cases in all, India is the world’s second-worst affected country, and trails only the United States, which has a caseload of around 6.6 million

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COVID-19 tally in India crosses 50-lakh mark

The COVID-19 case fatality rate due to the coronavirus infection further dropped at 1.63 per cent.

There are 9,95,933 active cases of COVID-19 in the country which comprises 19.84 per cent of the total caseload, the data stated.

According to the ICMR, a cumulative total of 5,94,29,115 samples have been tested up to September 15 with 11,16,842 samples being tested on Tuesday.

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Global coronavirus cases to soon surpass 30 million: Reuters tally

The official number of global coronavirus cases is now more than five times the number of severe influenza illnesses recorded annually, according to World Health Organization data.

Around the world, there have been almost 1 million deaths, considered a lagging indicator given the two-week incubation period of the virus. That has well exceeded the upper range of 290,000 to 650,000 annual deaths linked to influenza.

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