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India’s exports may take a $30 billion hit on Red Sea disturbances
Higher global freight and insurance rates, possible upside risk to...
Automobile retail sales rise 11% annually in 2023: FADA
The overall domestic automobile retail sales stood at 2,38,67,990...
12 lakh EPFO members withdraw Rs 3,360 cr retirement savings during lockdown: FM
Earlier in March, Labour Minister Santosh Gangwar had asked all state chief ministers to provide financial aid to over 3.5 crore construction workers from Rs 52,000-crore construction cess available with them amid Covid-19 outbreak.
Punjab staring at loss of Rs 50,000 crore due to COVID-19: Chief Minister
The CM said with some experts predicting a peak in coronavirus pandemic in July and August, Punjab was preparing itself “for the worst”, with the massive influx of migrants and Indian returnees from abroad emerging as the top disease management challenge.
Maritime advisory by U.S. sanctions for ship owners,insurers
The guidelines, known as a Global Maritime Advisory, concern sanctions on Iran, North Korea and Syria. The State Department said it is committed to disrupting sanctions evasion and smuggling of goods, including oil exports from Iran, which the Trump administration imposed sanctions on soon after pulling out of the Iran nuclear deal in 2018.
Global shippers and insurers had balked at an initial outline of the advisory that the State Department previewed in March, arguing it would have disrupted international trade with legal questions.
Health groups ask India to rescind Gilead’s patents for COVID-19 drug remdesivir
“The licenses divide the global market into two and profitable markets are retained with Gilead and less profitable markets are given to the five generic companies,” said K. Gopakumar, senior legal researcher at Third World Network, which sent a letter to the Indian government on Wednesday.
Covid-19 could cause economic loss up to $8.8 trn, 9.7% of global GDP: ADB
The ADB’s forecast, equal to 6.4% to 9.7% of global gross domestic product, was worse than projections in April when it said the global economy could suffer between $2.0 trillion and $4.1 trillion in losses, depending on how long containment measures were in place.
Measures to contain the spread could inflict $1.7 trillion to $2.5 trillion in economic losses in Asia, and between $1.1 trillion and $1.6 trillion in China, the ADB said.
Death toll due to COVID-19 rises to 2,649; cases climb to 81,970: Health Ministry
Of the 100 deaths reported since Thursday morning, 44 were in Maharashtra, 20 in Gujarat, 9 in Delhi, 8 in West Bengal, five each in Uttar Pradesh and Madhya Pradesh, four in Rajasthan, two each in Tamil Nadu and Karnataka and one in Andhra Pradesh.
Covid-19 Pandemic:General insurance industry prm degrows by 10 % in Apr,NIA records 7% prm growth
“It could become possible due to the company’s strong presence on digital platform. Out entire team has risen to the challnges. The loss of premiums in the motor segment was compensated by health and property segments. The premium for property risks have gone up since Apr2020,” said Atul Sahai, CMD, NIA.
NIA has also managed to grow its miscellaneous business which has compensated its loss of premiums in cargo, hull and aviation, a few segments severely impacted by the countrywide lockdown.
The overall depressive trends in the industry due to Covid -19 pandemic will continue till September 2020. Hopfully, all the segments including motor portfolio will look up, said Sahai.
ILO warns Indian states on scrapping of workers’ rights
In April, the government in Gujarat allowed factories to increase workers’ shifts from eight to 12 hours.There is also a proposal to increase the threshold of the number of workers employed for factories to need prior government permission for layoffs, retrenchment and closure, from 100 to 300.
Fitch highlights India’s two big challenges in fight against coronavirus
It also said that the growth within India’s pharmaceuticals and healthcare market will be supported by the government’s push towards achieving universal health coverage status.
Temperature checks, masks the new normal for air travel, says Dubai airport CEO
Countries who have the spread of the virus under control and agree to reopen their borders to each other are likely to drive air travel demand over the near term, Griffiths said, but it is impossible to say when travel could return pre-pandemic levels.