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India expected to become third-largest economy in next 3 years: FinMin
Nirmala Sitharaman, Finance minister The government has, however,...
Howden launches first-of-its-kind carbon capture and storage insurance facility
The insurance facility, designed by Howden and led by SCOR’s...
GIC Re unveils strategies to overhaul its financials and ratings,domestic exposure to Covid-19 claims extremely limited
“We have already addressed the the key issues within our control of profitability and portfolio size We have taken further action to strengthen our balance sheet by increasing our outwards reinsurance purchases on the domestic portfolio by 37.5 percent, growing in size from USD 2.1 billion for 2019-20 to USD 2.7 Bn for 2020-21, using high credit quality retro-cession counter parties,”said GIC Re
At least 126 killed as Myanmar jade mine collapse buries workers
“There’s no hope for the families to get compensation as they were freelance miners.”
The government of Nobel laureate Aung San Suu Kyi pledged to clean up the industry when it took power in 2016, but activists say little has changed.
Official sales of jade in Myanmar were worth 671 million euros ($750 million) in 2016-17, according to data published by the government as part of an Extractive Industries Transparency Initiative.
SoftBank-backed Lemonade raises $319 million in IPO
Lemonade, started in late 2016, says it has digitized the entire insurance process, replacing brokers and paperwork with algorithms. It says it provides insurance policies to homeowners and renters in as little as 90 seconds and claim payments in three minutes.The IPO values Lemonade at $1.6 billion. That is less than the $2.1 billion it was valued at last year, after it raised $300 million in a funding round led by Japan’s SoftBank and which included insurer Allianz SE and Alphabet Inc’s venture capital arm GV. Lemonade has pursued breakneck revenue growth at the expense of widening losses.
Insurers anticipated a pandemic but could have responded better,says exec
David Williams, managing director of underwriting and technical services at AXA Insurance UK PLC.said the industry’s response to previous virus outbreaks, such as Severe Acute Respiratory Syndrome, or SARS, and the H5N1 avian flu strain, was “why we’ve ended up in a situation where 98% of business interruption policies in the U.K. don’t include the impacts of COVID-19.”
Novartis pays $729 mn to settle US charges that it paid doctors kickbacks
Acting U.S. Attorney Audrey Strauss in Manhattan called the incentives for doctors “nothing more than bribes” and said federal healthcare programs paid hundreds of millions of dollars in reimbursements for prescriptions tainted by kickbacks.
“Giving these cash payments and other lavish goodies interferes with the duty of doctors to choose the best treatment for their patients and increases drug costs for everyone,” Strauss said in a statement.
Cybersecurity top priority for Indian CIOs post Covid-19 pandemic:Adobe
“As we rapidly moved from functioning in an increasingly-digital world to one that is digital-only, CIOs have had to pivot their strategies to prioritise the online needs of their customers and employees,” said Scott Rigby, Head of Digital Transformation, Adobe Asia Pacific.
Nearly 98 per cent of organisations across India have seen Covid-19 impact business functioning, with CIOs facing challenges in helping their teams to communicate effectively and having the right technology deployment to ensure smooth business continuity.
Another COVID-19 wave in 2nd half of 2020 could result in loss of 340 mln full-time jobs: ILO
Regionally, working time losses for the second quarter were: Americas (18.3 per cent), Europe and Central Asia (13.9 per cent), Asia and the Pacific (13.5 per cent), Arab States (13.2 per cent), and Africa (12.1 per cent).
AIIMS partners IIT-Delhi to launch app for patients needing plasma therapy
“This app will act as a bridge between patients seeking plasma therapy and are moderately and severely symptomatic and donors who have recovered from COVID-19 and have completed 28 days post recovery,” Dr Verma explained.
Musk says Tesla is building ‘RNA microfactories’ for CureVac
CureVac, an unlisted German company, has said it is developing transportable, automated mRNA production units that it calls printers. They will be designed to be shipped to remote locations, where they can churn out its vaccine candidate and other mRNA-based therapies depending on the recipe fed into the machine.
Goa opens to domestic tourists from July 2:state tourism minister
Moreover, tourists will either have to carry Covid-19 negative certificates to enter the state, or will have to get tested at the border and undergo quarantine at a state-run facility till their results arrive, he said.