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Facebook invests $5.7 billion in Reliance unit to reach small Indian grocers

by | Apr 22, 2020 | , , ,

Facebook co-founder and CEO Mark Zuckerberg said, “India is home to the largest communities on Facebook and WhatsApp, and a lot of talented entrepreneurs. The country is in the middle of a major digital transformation and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online.”

Caronavirus Pandemic:Over 154 crore students severely impacted by closure of educational institutions across the world

by | Apr 22, 2020 | , , ,

“Particularly for women and girls in countries where limited social protection measures are in place, economic hardships caused by the crisis will have spill-over effects as families consider the financial and opportunity costs of educating their daughters. While many girls will continue with their education once the school gates reopen, others will never return to school,” Stefania Giannini, UNESCO’s Assistant Director-General for Education said.

Hydroxychloroquine not effective against COVID-19: Study

by | Apr 22, 2020 | , , ,

“Hydroxychloroquine use with or without co-administration of azithromycin did not improve mortality or reduce the need for mechanical ventilation in hospitalised patients,” the scientists wrote in the study.

On the contrary, they said, hydroxychloroquine use alone was associated with an increased risk of death compared to standard care alone.

Global CEOs see U-shaped recession, fear death of some brands: Study

by | Apr 22, 2020 | , , ,

Business leaders in the hospitality and restaurant sectors were the most vulnerable with 41% of executives saying their firms were at risk of not surviving, while 30 per cent in aviation and 19 per cent in wholesale and retail sales feared they may go under, the survey found.

Almost two-thirds of business leaders forecast a negative impact on earnings to continue for more than a year, while a quarter expect their workforce to be down by more than 20 per cent a year from now.

US State files lawsuit against China on coronavirus handling

by | Apr 22, 2020 | , , ,

The lawsuit alleges that during the critical weeks of the initial outbreak, the Chinese authorities deceived the public, suppressed crucial information, arrested whistleblowers, denied human-to-human transmission in the face of mounting evidence, destroyed critical medical research, permitted millions of people to be exposed to the virus, and even hoarded personal protective equipment (PPE, causing a global pandemic that was unnecessary and preventable.

EPFO settles 10.02 lakh withdrawal claims including 6.06 lakh COVID-19 advances in last 15 working days

by | Apr 22, 2020 | , , ,

A provision for withdrawal from the EPF Scheme to fight COVID-19 pandemic was announced by the government and an urgent notification issued, providing for non-refundable withdrawal to the extent of basic wages and DA for three months or up to 75 percent of the amount standing to member’s credit in the EPF account, whichever is less.

Virus upends outsourcing as firms ‘Reshore’, Embrace AI

by | Apr 21, 2020 | , , , ,

But the bigger lasting change from the pandemic will likely involve the wider use of artificial intelligence to handle tasks currently performed by human beings, experts said.

“AI doesn’t go on strike, it can work 24/7 and throws up fewer complications,” said Michael Czinkota, who teaches international business at Washington’s Georgetown University.

AIR Worldwide launches COVID-19 projection tool: Provides case and death projections worldwide

by | Apr 21, 2020 | , , , , , , , ,

“We’re providing this complimentary tool to give communities, businesses, governments, and insurers a better understanding of what the near future of the COVID-19 pandemic could look like,” said Doug Fullam, director of life/health modeling at AIR Worldwide. “Additionally, we are making this information publicly available as we feel it’s imperative to leverage our strengths as a trusted data steward to provide services that benefit the greater good.”

HC satisfied with govt measures for emergency treatment to non-COVID patients in hospitals

by | Apr 21, 2020 | , , ,

The court noted that guidelines indicate that the government has declared services for all crucial areas such as maternal, newborn and child health, prevention and management of communicable diseases, treatment for chronic diseases to avoid complications and addressing emergencies, as ‘essential services’.

There is a clear direction that all health services including Ayush would remain functional, such as hospitals, nursing homes, clinics, telemedicine facilities as well as dispensaries, chemists, pharmacies, medical laboratories and collection centres, it said.

Various aspects have been covered in these guidelines which also include measures with respect to illnesses like hypertension, diabetes and mental health and diseases such as tuberculosis, vector borne and viral hepatitis, it noted.

Covid-19 Pandemic:India Inc expects negative impact in the next 6 months, says Willis Towers Watson

by | Apr 21, 2020 | , , , ,

Almost half of the respondents expect a negative impact on their business in the next 12 months; 19% expect adverse impact to last over a two-year period.

42% have not taken a decision on salary increment budgets for this year, while 33% indicated that performance appraisals and bonus pay-outs will happen as planned.

83% plan to review their work-from-home policy; 55% have no fixed end-date on their flexible work arrangements.

AXA XL announces new leadership team,creates a single global insurance underwriting function

by | Apr 21, 2020 | , ,

The underwriting function will be led by a global chief underwriting officer (CUO), who will be working to design the structure of the proposed new model. The CUO would be responsible for underwriting governance, pricing, P&L and the management of the global heads of business lines in order to define and drive product strategy.