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Coronavirus infects Asia stocks with exposure to China

“We don’t know how long it will go,” said Peter Costello, chairman of Australia’s $115 billion sovereign wealth fund, the Future Fund, in a media briefing to coincide with a regular portfolio update.

“Obviously we hope that the measures that have been taken now will contain the virus but it’s still far too early. It will have an obvious negative effect on the Australian economy and indeed beyond,” added Costello, a former Australian treasurer.

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IRDAI issues guidelines on group health insurance policies of merged PSBs

Upon merger of these PSBs, the underlying group health Insurance policies of the customers of the merged banks will be continued to be serviced by the respective insurance companies which issued the policies till the end of policy period. The insurance companies will  make suitable arrangements with the acquiring banks to this effect.

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Epidemics and equities: What the coronavirous means for markets

For global corporations, Wuhan is an important hub. Of about 2,000 cities in China with factories and other facilities in Bloomberg’s supply chain database, the city ranks 13th, with about 500 facilities. The province of Hubei has 1,016, making it seventh of 32 such jurisdictions. US-based companies have 44 facilities there, and European ones about 40, the data show. Many plants are in the auto and transportation industries, and big names include PepsiCo Inc. and Siemens AG.

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Coronavirus: Over 2,000 people now infected globally, 56 dead in China

The World Health Organisation (WHO) this week stopped short of calling the outbreak a global health emergency, but some health experts question whether China can continue to contain the epidemic.On Sunday, China confirmed 1,975 cases of patients infected with the new coronavirus as of Jan. 25, while the death toll from the virus has risen to 56, state broadcaster CCTV reported.

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