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“Use & File’- ICICI Lombard revamps its product portfolio
Sanjeev Mantri,executive director, ICICI Lombard General Insurance...
World reaches ‘tragic milestone’ of one million COVID-19 deaths so far in 2022
In January, WHO and partners launched the COVID-19 Vaccine Delivery...
Sensex nosedives 1,448 pts,Investors lose Rs 5.50lakh crore
Even as the Indian shares sank on Friday for a sixth straight session, capping their worst week in more than a decade, over fears that the fast-spreading coronavirus outbreak could trigger a global recession.the country’s gross domestic product (GDP) growth in the October-December quarter of 2019 (Q3 of FY20) stood at 4.7 per cent, showed official data released by the Central Statistics Office (CSO) on Friday.
If issues not resolved, Coronavirus will pose challenges to economy in 3 weeks: Sitharaman
On the impact of coronavirus on the economy, Finance Minister Nirmala Sitharaman on Friday said there is no need to immediately press the “panic button”, but admitted that it may get challenging if the issues prolong for another two or three weeks, citing her conversations with the industry players over the last few days.
Govt to meet exporters on Mar 3 to discuss opportunities amid coronavirus
“The outbreak of this disease has reflected that depending completely on one country for goods is not a good idea and in such a situation, India is best placed to fill this global supply chain gap,” the source said.
Coronavirus COVID-19 risk increased to ‘very high’ but containment still possible
WHO chief Tedros Adhanom Ghebreyesus said the risk was being raised to “very high” because of the continued increase in cases and the number of new countries affected in recent days.
Global re/insurers face hefty claims if Coronavirus forces Olympics cancellation
The IOC takes out around $800 million of protection for each Summer Games, which covers most of the roughly $1 billion investment it makes in each host city. Insurance sources estimated it would pay a premium of about 2-3%, giving a bill of up to $24 million to insure the Tokyo event.
-Munich Re board member Torsten Jeworrek said on Friday it was a provider of cancellation insurance for Tokyo, for an amount in the hundreds of millions of euros.
-He would not say whether the figure was more or less than its 250 million euro exposure to the 2018 Winter Olympics or if the policy covered coronavirus, citing confidentiality.
Catastrophe Bond prices signal Coronavirus nearing Pandemic Status
The bonds are structured so that their principal, or face value, is written down following outbreaks of certain diseases named as covered perils.
They were issued to raise funds for the World Bank’s Pandemic Emergency Financing Facility, which sends money to developing countries that need help tackling these diseases. To date, the pandemic securities have not been triggered.
Sensex, Nifty fall for fifth day as pandemic fears unnerve investors
Most new virus cases are now being reported outside China – the origin of the outbreak – with South Korea, Italy and Iran emerging as new epicentres. U.S. officials on Wednesday warned Americans to prepare for more virus cases.
Coronavirus vaccine won’t be ready for a year, says US govt
The first vaccine trials were expected to begin in about two months and it would take a further three months to determine safety and efficacy which means the fastest possible time frame would still be upwards of 6-8 months before a breakthrough, Dr. Anthony S. Fauci, Director, National Institute of Allergy and Infectious Diseases, said at the White House briefing, with Trump looking on.
Facebook bans ads with false claims about new virus
For instance, ads for face masks that claim the products are 100% guaranteed to prevent the spread of the virus are not allowed, the company said.
India’s GDP seen growing at 4.7% in December quarter, with virus impact to come
“Although number of cases of COVID-19 (coronavirus) in India are less, the economic impact is expected to accrue from supply chain risk,” Soumya Kanti Ghosh, chief economist at State Bank of India, citing problems in supply of raw materials from China for pharmaceuticals and other exports.