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India to have coronavirus vaccine by 2020 end, says Harsh Vardhan

According to V.K. Paul, head of the national task force on Covid-19, the vaccine candidate entering the third phase has yielded encouraging results in the initial phases of its trial.
Paul said that the other two vaccines are currently in Phase-I or II of their pre-clinical trials.

While the officials did not reveal the names of the vaccine candidates while speaking about their testing phase, it could be gathered that the vaccine entering the third phase is Bharat Biotech’s Covaxin, jointly developed with the Indian Council of Medical Research (ICMR).

Chinese insurance tech firm Waterdrop raises $230 million, plans U.S. IPO

Two sources with knowledge of the fundraising told Reuters that Waterdrop was valued at nearly $2 billion in the funding round. One of them said that Swiss Re itself had invested $100 million.

Swiss Re declined to comment on its investment size, but said the company’s participation in the round was part of its long-term commitment to China.

Twitter privacy ruling delayed after dispute among EU regulators

Twitter had looked set to become the first big technology company to face a fine by Ireland’s Data Protection Commission (DPC) under tougher EU data protection rules after it submitted the decision to other member states in May.

Under the EU’s General Data Protection Regulation’s (GDPR) “One Stop Shop” regime introduced in 2018, regulators can impose fines for violations of up to 4% of a company’s global revenue or 20 million euros ($22 million), whichever is higher

Indore cleanest city in India for the fourth time, five others rated 5-star

Indore city in Madhya Pradesh emerged as the cleanest city for the fourth time in a row, Surat and Navi Mumbai won the second and third position respectively in the more than 100,000 population category.

Mysuru city in Karnataka had won the award for the cleanest city of India in the first edition of the survey in 2016, while Indore had retained the top position for three consecutive years.

Chhattisgarh won the prestigious title of the cleanest state in the more than hundred urban local bodies category, while Jharkhand was adjudged the winner in the less than hundred urban local bodies category. An additional 117 awards were also handed over by the Minister.

Beijing says residents can go mask-free as China COVID cases hit new lows

Beijing’s municipal Centers for Disease Control first said residents could go without masks in outdoor areas in late April, though the rules were swiftly reversed in June after a new outbreak in a large wholesale market in the city’s south.
Experts say the key to the country’s success in controlling the disease has been the strict enforcement of local rules, including wearing masks, mandatory home quarantine and participating in mass testing.

Insurers will seek to benefit from open banking through partnerships post-COVID-19:GlobalData

Jazmin Chong, Insurance Analyst at GlobalData, comments: “The increased implementation of open banking and greater understanding of customers’ information will lead to an uptake of purchases through apps and mobile devices. This is due to the information exchange that insurers will have access to, allowing them to require less information from customers. It will also enable customers to use apps in a fast and more confident manner, as current app purchases still largely require extensive information that is more comfortable to fill out on a computer.”

Russia vaccine roll-out plan prompts virus mutation worries

Sputnik-V’s developers, as well as financial backers and Russian authorities, say the vaccine is safe and that two months of small-scale human trials have shown that it works.

But the results of those trials have not been made public, and many Western scientists are sceptical, warning against its use until all internationally approved testing and regulatory hurdles have been passed.

Japan ship deviated from shipping lane before Mauritius impact, data shows

It was not immediately clear why the ship appeared to deviate from its course. Tracking data for other cargo vessels passing close to Mauritius recently show them all sticking to the shipping lane.

The Mauritius coast guard had repeatedly tried to reach the ship to warn it that its course was dangerous but received no reply, Reuters reported this week.

ICICI Gen acquiers Bharti AXA Gen in an all- stock deal valued at Rs 4,200 crore

AXA and Bharti to combine their non-life operations in India into ICICI Lombard, in exchange of shares, said Axa.

Under the terms of the agreement, AXA and Bharti will receive a total of 35.8 million shares of ICICI Lombard on closing, which would represent Euro 521 million at current market value, and an implied HY 2020 P/BV4 multiple of more than five  times. The transactionis expected to result in a one-time positive net income of approximately Euro 0.2 billion in AXA Group’s FY 2021 consolidated financial statements,said AXA..

DGCA starts special safety audit of all Indian airlines

“It will be a complete FOQA (Flight Operations Quality Assurance) audit,” he said.

The FOQA is the process of obtaining and analysing all kinds of data from flights to improve the safety and efficiency of future flight operations.

“All Indian airlines will undergo the special safety audit that has begun. In the first phase, we are auditing SpiceJet and Air India,” the DGCA official said.

Covid hit 20% of meat workers in No. 1 chicken exporter Brazil

Employees in the meat industry have been deemed essential globally as companies try to keep up with protein demand. But the workers face conditions ripe for the spread of disease, and outbreaks have emerged from South America to Europe and Australia. Brazil is the world’s biggest exporter of poultry and beef and a key supplier of pork.

China govt-backed class actions take aim at corporate fraud – with limits

Under the new litigation process, either the courts or a regulator must find that a company has broken the rules, or the company must admit wrongdoing, before a class-action lawsuit can be launched.

In addition, class-action suits launched by individuals, not the CSISC, can only include investors who opt in, reducing the number of plaintiffs and the size of the claim.