In Building Forward Fairer: Women’s rights to work and at work at the core of the COVID-19 recovery, the International Labour Organization (ILO) highlights that between 2019 and 2020, women’s employment declined by 4.2 per cent globally, representing 54 million jobs, while men suffered a three per cent decline, or 60 million jobs.
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Pandemic has IFC pumping $1.7 billion into local companies, up 51%
The impact of the pandemic coupled with the region’s vulnerability to climate change, has highlighted the need for a collaborative, resilient and climate friendly recovery that can withstand future shocks, said its new regional director for South Asia, Hector Gomez Ang.
While South Asia is one of the fastest growing regions in the world, estimates suggest that climate impacts could reduce its annual GDP by an average of 1.8 percent by 2050, rising to 8.8 percent by 2100 if the region failed to take adequate corrective measures. The region is also estimated to have an untapped climate investment potential of USD3.4 trillion by 2030, Ang said.
New Zealand to enter lockdown after single coronavirus case found
India’s economy may continue to face Covid-19 aftershocks till 2025: Report
Balance sheet stress that had been building before the coronavirus outbreak will probably worsen, Priyanka Kishore, head of economics for South Asia and South-East Asia, wrote in the report. She projects potential growth for India at 4.5% over the next five years, lower than 6.5% before the virus.
Lloyd’s of London sees global pandemic insurance losses above previous estimate
Lloyd’s has proposed a “Black Swan” reinsurance scheme to governments globally to ensure better cover during circumstances such as the pandemic and other disturbances to business, but Carnegie-Brown said it was hard to get government attention on the topic so far.
“The challenge for governments of course is that they are very short-term focused… (it is) very difficult for them to lift their heads above the parapet and think about the future,” Carnegie-Brown said.
Santam loses virus-linked test case for S. African insurers
The court agreed with the approach of the UK Financial Conduct Authority in settling business-interruption claims as a result of COVID-19 restrictions and ordered Santam to pay Ma-Afrika Hotels and Stellenbosch Kitchen for losses for an 18-month period, according to the judgment on Tuesday.
Oxford’s COVID-19 vaccine trial results ‘definitely’ before Christmas – investigator
The Covid-19 vaccine being developed by the University of Oxford produces an immune response in both elderly and young people and adverse reactions were lower among the elderly, AstraZeneca said .
Mutated coronavirus from mink in Denmark most likely extinct, health ministry says
No infections with the new virus variant, known as Cluster-5, had been registered since Sept. 15, the ministry said.
Nobel scientists urge face mask rethink as Sweden’s COVID cases climb
Sweden’s soft-touch pandemic response has focused mostly on voluntary social distancing and the Public Health Agency has cast doubt on the effectiveness of face masks, which are mandatory in many public places in Europe.
However, a report on Thursday by the Royal Academy of Sciences said that face masks could play a role in reducing infection, particularly in enclosed spaces.
Global economy recovering, but may be losing momentum, says IMF chief Kristalina Georgieva
While fiscal spending of nearly $12 trillion and monetary policies had averted even worse outcomes, poverty and inequality were increasing, and more support was needed, the IMF said.
New outbreaks and more stringent mobility restrictions, and delays in vaccine development and distribution could reduce growth, increase public debt and worsen economic scarring.
Social distancing most effective tool to combat COVID-19: Study
Coronavirus is a global pandemic with over 25 million cases worldwide. Currently, treatments are limited, and there is no approved vaccine. Interventions such as handwashing, masks, social distancing, and “social bubbles” are used to limit community transmission, but it is challenging to choose the best interventions for a given activity.
WHO advises against Gilead’s remdesivir for all hospitalised COVID-19 patients
The antiviral is one of only two medicines currently authorised to treat COVID-19 patients across the world, but a large WHO-led trial known as the Solidarity Trial showed last month that it had little or no effect on 28-day mortality or length of hospital stays for COVID-19 patients.
Covid-19 Pandemic to slow down top 10 largest global insurance markets in 2020
The world’s 10 largest insurance markets, in order, as defined by total premium written in 2018-2019, are: the United States, China, Japan, the United Kingdom, France, Germany, South Korea, Italy, Canada and Taiwan. The Triple-I’s projection of a 4.5% GDP decrease in the world’s 10 largest insurance markets in 2020 as compared to 2019 was weighted based on the total premium written in each one.