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EU clinches deal on landmark AI Act
Despite the criticism, this is good news for businesses and...
Jan Aushadhi scheme has led to savings of Rs 7,416 cr for citizens this fiscal: Govt
Minister of State for Chemicals and Fertilisers Bhagwanth Khuba...
China non-life insurers see big drop in car accident claims in Coronavirus silver lining
Motor insurance accounts for about three quarters of Chinese non-life insurers’ business while health insurance – where virus-related claims would fall under – accounts for less than 5%, according to Swiss Re.
In contrast, for the non-life insurance sector globally, motor and health insurance each account for about a third of premiums.
Wall Street jumps after worst day since 1987 over hopes of fiscal easing
What we’re headed for is a market that should begin to settle down (with) investors now expecting the government to get the economic plan in place and get it into law,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Coronavirus hits politicians, sports and showbiz stars as it spreads across globe
Just five new cases were reported on Friday in the provincial capital of Wuhan, where the virus was first detected in December, and no locally transmitted infections were reported in the rest of China.
AI cancels flights to Italy, South Korea, Kuwait; curtails services on five int”l routes
“Air India has only curtailed services to France, Germany, Spain, Israel and Sri Lanka till April 30,” the spokesperson said.
Earlier, a senior official, who did not want to be named, said the carrier has decided to temporarily suspend services to Italy, France, Germany, Spain, Israel, South Korea and Sri Lanka due to the coronavirus outbreak.
RBI asks state govts not to move deposits out of pvt banks; says money is safe
“We strongly believe that such a move can have banking and financial sector stability implications,” the RBI wrote. “We feel that apprehension on the safety of deposits in private sector banks is highly misplaced and will not be in the interest of stability of the financial system in general and the banking system in particular.”
Insurers face big investment losses, Trade Credit claims from Coronavirus crisis
Coface chief executive Xavier Durand told analysts two weeks ago that hotels and airlines in Asia would feel the worst impact, while Euler Hermes saw coronavirus costing $320 billion of trade losses every quarter this year.
Lloyd’s of London to shut market for a day on Friday – CEO Lloyd’s
The decision to shut the so-called “underwriting room”, which is used by nearly 50,000 employees in the Lloyd’s of London market, comes after the coronavirus epidemic was officially classed as a pandemic, with cases in Europe and the United States and government responses rising.
76-yr-old Karnataka man becomes India’s first COVID-19 death
The state has already reported five confirmed COVID-19 cases. A 26-year-old man who returned from Greece tested positive for coronavirus, making it the fifth case, the health department said on Thursday.
‘People are terrified’: Daily life on hold as Americans face coronavirus threat
Analysts say the virus risks plunging the world’s largest economy into recession as people put their lives on hold – canceling travel plans, staying home and steering clear of restaurants, movie theaters and other public spaces.
Life upended for Americans as U.S. scrambles to contain coronavirus threat
New York City Mayor Bill de Blasio declared a state of emergency, granting him new powers as the number of confirmed cases rose to 95 in the nation’s most populous city.
“We are getting into a situation where the only analogy is war and a wartime dynamic,” de Blasio said, referring to an expected surge in demand for hospital beds.
From California to New York, officials banned large gatherings and closed museums and other institutions without saying how long the directives would stay in place, compounding the uncertainty.