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Coronavirus scare may erase $29 bn from global airlines’ revenue, says IATA

“These are challenging times for the global air transport industry. Stopping the spread of the virus is the top priority,” said Alexandre de Juniac, IATA’s Director General and CEO. “This will be a very tough year for airlines.” Analysts at Cowen, a US investment bank and financial services company, noted IATA might be underestimating the impact on Asia travel outside of China, noting the recent reports of dozens of cases in South Korea.

Axis bank may pick up 20%-30% stake in Max Life

Mohit Talwar, vice chairman, Max Group and Managing Director, Max Financial Services said, “The proposed long term partnership between Axis Bank and Max Life is a natural evolution of what has been a highly productive and mutually beneficial affiliation. It will infuse fresh impetus into the teams in both companies and will motivate them to serve customers effectively and efficiently. I believe that this will be one of the most value-accretive partnerships in the Indian life insurance industry. ” 

China’s Ping An Insurance says Coronavirus outbreak could hit business

-Ping An’s comments on the virus were included in its annual results, where the company reported a 39% increase in annual net profit on the strength of its retail business, but missed expectations.

-The coronavirus outbreak in China has caused widespread disruption to businesses and factory production, raising worries about the country’s economic outlook as growth is expected to slow sharply in the first quarter.