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India suspends all flights originating from UK until Dec 31
The ban will come into effect on Wednesday and all passengers arriving from the UK before then will be tested on arrival at airports, the ministry said.
Sensex crashes by 1,407 points as European markets open weaker
The NSE Nifty 50 index ended 3.14% lower at 13,328.40, wiping out six straight sessions of gains up to Friday. The benchmark S&P BSE Sensex fell 3% to 45,553.96.
European shares opened lower at 0800 GMT as investors worried about the economic impact of a new coronavirus strain which has seen several European countries shut their borders to the UK.
India may ease rules for non-Chinese investments from Hong Kong
Prime Minister Narendra Modi’s administration is formalizing investment rules for neighbouring countries amid a bloody border standoff with China earlier this year.
That’s led to over 140 proposals worth more than $1.75 billion, including proposals from China and Hong Kong, getting delayed and complicating deal-making for investors.
The framework is expected to speed up the approval process and bring in much-needed clarity for both private equity firms and hedge funds and companies looking for foreign capital as they struggle amid the pandemic generated economic shocks.
3 times increase in number of people using online consultations in India:Report
Visits to secondary care specialists like neurosurgeon, somnologist, cardiologist, and oncologist grew dramatically● 3x increase in the number of people using online consultations
○ 26% of the consultations were with GPs, followed by Dermatology (20%) and Gynecology (16%) and others like Gastroenterology, ENT, and Pediatrics stood at 7% each
○ The fastest-growing health concerns included ophthalmology, ENT, orthopedics, pediatrics, and gastroenterology ○ Delhi, Mumbai, and Chennai saw an average of 16x growth in queries for ENT specialization. Non-metros saw the highest growth of 7x in online consultations, as compared to the same period in the previous year
Indian Pharma majors rush to buy covers for developing Covid-19 solutions
The policy provides cover for legal liability arising out of lack of care or negligence resulting in injury or death of the subject participating in the trial,
’Raheja QBE General insurance, has issued 119 `Clinical Trial Liability Insurance’, policies including 53 covers exclusively for developing Covid 19 remedies from April till November 2020.
“Clinical trial premium is more expensive than other liability products. We have taken reinsurance support for this policy;; said Atul Sahay, CMD, New India Assurance..
, ICICI Lombard General Insurance is now getting ready to provide transit cover for transporting Covid -19 vaccine in India, said Sanjay Datta, Chief – Underwriting, Claims, Reinsurance and Actuarial.
Govt plans tough annual targets for state firms to boost valuations
For the first time, India will include annual targets for state-run companies on metrics such as earnings before interest, tax, depreciation and amortisation (EBITDA), according to the sources and a document on the draft guidelines, which is currently before a government committee.Other targets will include increasing market capitalisation or share price, as well as measures such as return on net worth and capital employed, they said.
For unlisted companies an improvement in earnings per share will be a key parameter instead of market capitalisation, the document showed.
Managers at state-run companies will have their bonuses and incentives linked to meeting the annual targets.
Government alert, no need to panic: Health Minister Harsh Vardhan on new coronavirus strain in UK
“The Joint Monitoring Group (JMG) chaired by the Director General of Health Services (DGHS) will hold a meeting on Monday morning to discuss the issue of the mutated variant of the coronavirus reported from the UK. WHO’s India representative Dr Roderico H Ofrin, who is also a member of the JMG, is likely to participate in the meeting,” a source told PTI.
Earlier in the day, Delhi chief minister Arvind Kejriwal urged the central government to ban flights from the United Kingdom.
“New mutation of corona virus has emerged in UK, which is a super-spreader. I urge central govt to ban all flights from UK immediately,” tweeted Kejriwal.
Defence tech service provider firm’s data hacked, company claims Rs 50-cr loss
“It is, hereby, informed that on account of the hacking of my emails along with the emails of other members of my department, the company has incurred heavy financial losses and irreparable damage to its reputation,” a senior executive of the firm alleged in the FIR lodged. .
COVID-19: India reports 26,624 new cases with 341 fatalities
The number of people who have recuperated from the disease surged to 95,80,402 pushing the national recovery rate to 95.51 per cent, while the COVID-19 case fatality rate stands at 1.45 per cent.
The COVID-19 active caseload remained below 4 lakh for the 14th consecutive day.
There are 3,05,344 active coronavirus infections in the country which comprises 3.04 per cent of the total caseload, the data stated.
Public sector banks to raise Rs 25,000 crore in three months: DFS Secretary
“Banks have been able to raise a lot of money from the markets. About Rs 40,000 crores have been raised by the public sector banks both in the form equity and also AT1 and Tier II bonds. We will expect another 20,000-25,000 during the remaining part of the financial year,” he said.