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Use of non-derivative financial instruments to insurance contracts with direct participation features now allowed:IASB
Ralph Ovsec, Senior Director, Insurance Consulting and Technology, at Willis Towers Watson, said: “All stakeholders will welcome the conclusion of deliberations on changes to IFRS 17, even if some of the decisions reached do not reflect the wishes of some in the industry. With regard to the determination of the acquisition date of reinsurance contracts, ceding companies should be mindful in assessing potential unintended consequences related to the ability to take reinsurance relief on onerous contracts offered by reinsurance.
FPIs Invest Rs 6,554 Crore In Indian Capital Markets In February
On a positive note, the data, however, showed that FPIs have been net buyers in the Indian markets since September 2019. Like other global markets, the Indian markets too came in the line of fire by the coronavirus scare. FPIs have been wary of investing in markets which rely on tourism as the spread of virus can adversely impact their prospects and economic growth.
Punjab to reduce govt employees retirement age to 58 yrs
“The retirement age of government employees has been reduced from 60 to 58 years. With this, we will be able to provide employment to three to four times the number of people who retire. We will also be able to get more talented pool of young people to serve Punjab, Badal said while addressing media later.
Exposure to air pollution linked to risk of kidney diseases: Study
The researchers estimated the monthly average levels of tiny particles of air pollution — called fine particulate matter — based on participants’ home addresses. They noted that fine particulate matter comes from a variety of sources including fossil fuel combustion, industrial processes, and natural sources.They found that exposure to higher amounts of fine particulate matter was associated with a higher degree of albuminuria — a marker of kidney dysfunction — at the start of the study as well as a higher risk of developing chronic kidney disease over time
Indians consume over 11GB data daily, spend 70 mins a day on OTT platforms
“We believe the migration of subscribers to 4G will continue to drive broadband growth in the country. The upcoming 4K/8K videos and industry 4.0 solutions that promise to enhance productivity and bring down expenses for industries across different verticals, demand ultra high speed and extremely low latency. The Indian telcos will need to consider other connectivity solutions to leverage the new opportunities and to address the growing data consumption,” Sanjay Malik, Senior Vice President & Head of India Market at Nokia said.
Coronavirus fuels recession fears: Worst week for global markets since 2008
“The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. “But at the moment, no one can tell how long this will last and how severe it will get.”
Raghurmam Rajan’s advice to govts: Fight virus first, worry about stimulus later
Coronavirus spread puts densely populated India on high alert
Apart from its sheer size, India is cause for particular worry because of the density of its population: 420 people live on each square kilometer (about 0.4 of a square mile), compared with 148 per square kilometer in China. Places like Mumbai’s Dharavi slum, or even a typical Indian household containing extended families, can facilitate contact with virus-bearing droplets emitted by breathing, talking, coughing or sneezing.
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.
Oriental Insurance needs Rs 3000 cr capital: CMD
March-May period likely to be warmer than normal: IMD
It is likely to be warmer than normal by 0.5 to 1 degree Celsius over Jammu and Kashmir, Haryana, Chandigarh and Delhi (HCD), west Uttar Pradesh, east Rajasthan, east and west Madhya Pradesh, Chhattisgarh, Odisha, sub-Himalayan West Bengal, Gujarat, Maharashtra, Goa, north interior and coastal Karnataka, Rayalaseema in Andhra Pradesh and Kerala.
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
Economy grows slowly in December quarter, with virus impact to come
Abheek Barua, chief economist, HDFC Bank, said,“The 4.7% growth is in line with economists’ expectations. However, with a likely impact of the coronavirus beginning to play out in the last quarter and expenditure compression by the government, last quarter GDP growth could disappoint. This could mean that GDP for the year could be lower than 5%.
Coronavirus COVID-19 risk increased to ‘very high’ but containment still possible
Govt not to change farmers’ share of prm under Pradhan Mantri Fasal Bhima Yojana , official
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.