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World food price index surges in May to highest level since 2011 -FAO

FAO also issued its first forecast for world cereal production in 2021, predicting output of nearly 2.821 billion tonnes — a new record and 1.9% up on 2020 levels.

The Food and Agriculture Organization’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 127.1 points last month versus a revised 121.3 in April.

Government issues guidelines for care of children affected by Covid-19

The states need to identify the children in distress through outreach and surveys and prepare a database with a profile of each child, along with the details of their specific needs and requirements, and ensure that the data is uploaded on the Track Child portal.

The National Commission for Protection of Child Rights (NCPCR), in an affidavit to the Supreme Court, said 9,346 children have lost at least one of the parents to the deadly virus, including over 1,700 who have lost both their parents, according to data received from the states

Covid-19 vaccine: After Pfizer, Serum Institute seeks indemnity, say sources

Earlier last year, SII CEO Adar Poonawala had advocated for indemnity for all vaccine manufacturers.

“We need to have the government indemnify manufacturers, especially vaccine manufacturers, against all lawsuits… Frivolous claims come up and you see in the media something being blown out of proportion. The government needs to step in with the right messaging,” he had said.

Amid the nationwide COVID-19 vaccine crunch, US pharma giant Pfizer is seeking an indemnity bond that will exempt it from legal claims in case there are any adverse effects from the vaccine.

17 pilots of Air India, IndiGo, Vistara died of Covid in May: Sources

in a statement to PTI. Indigo has a ”robust” welfare scheme and a ”benevolent policy” so that each family of the deceased pilot would be getting Rs 5 crore, the sources mentioned.

They added that while there were barely a few pilots of IndiGo who tested positive during the first wave, almost 450 pilots of the carrier tested positive for COVID-19 during the second wave.

Chasing yield, U.S. private equity firms nudge up risk on insurers

PE-insurance marriages can be joyous: Asset managers have skills and access to investments that insurers lack, and insurers provide cheap funding. PE firms also earn significant fees, even though their investments do not always capture outsized returns.

PE firms are nudging up risk on a large pool of money. They now own 7.4% of all U.S. life and annuity assets, or $376 billion, double the tally in 2015, credit agency AM Best said. Pending deals could add $250 billion this year, pushing PE ownership to 12%.

Retired babus taking up private sector jobs soon after retirement is serious misconduct: CVC

In an order, it also said that all government organisations should mandatorily take vigilance clearance before offering post-retirement jobs to babus.

In case a retired officer served in more than one organisation, the vigilance clearance should be obtained from all organisations where the retired officer had served during a period of 10 years prior to his retirement, it said mentioning the procedure.

Niti Aayog submits names of PSU banks to be privatised to Core Group of Secretaries on Disinvestment

Industry sources say the likely names are Mumbai based Central Bank and Pune based Bank of Maharashtra. 
Following the clearance from the Core Group of Secretaries, headed by the Cabinet Secretary, the finalised names will go to Alternative Mechanism (AM) for its approval and eventually to the Cabinet headed by the Prime Minister for the final nod.

Changes on the regulatory side to facilitate privatisation would start after the Cabinet approval.

Risk of COVID-19 surge threatens Africa’s health facilities

Only around two per cent of the population has received at least one dose of COVID-19 vaccine, compared with the 24 per cent global figure.
In the last two weeks, the continent has recorded a 20 per cent increase in coronavirus infections, compared to the previous fortnight.

“The pandemic is trending upwards in 14 countries and in the past week alone (and) eight countries witnessed an abrupt rise of over 30 per cent in cases,” WHO said in a statement.

Economy hit by COVID-19 second wave to start recovering from July, says Chief Economic Advisor

Commenting on the stock market situation in the country, he said that the stock market is at a record high as investors believe that the Indian economy will do well.

The CEA said that the prediction of good economic growth and investment by developed nations in the Indian stock market has led the market to a record high. 

Aon to sell its U.S. Retirement Business to Aquiline and its Aon Retiree Health Exchange Business to Alight

Aon and Willis Towers Watson have previously announced the divestiture of Willis Re, a set of Willis Towers Watson corporate risk and broking and health and benefits services, and Aon’s retirement and investment business in Germany.

General insurers seek cooperation from hospitals for faster settlement Covid-19 claims

The insurance companies are ready to extend their maximum cooperation to hospitals in completing the discharge process in the quickest possible time in all cashless claims as per the HC directives and solicit the kind cooperation of all hospitals in this regard, said Atul Sahai, chairman of GI Council and CMD of New India Assurance, the largest general insurer in the country.

Number of active internet users in India likely to reach 900 mn by 2025, rural may lead: IAMAI

”Vernacular, Voice and Video will emerge as the game changers for the digital ecosystem over the next few years,” Biswapriya Bhattacharjee, Executive Vice President, Insights Division, Kantar said in a statement on the report.
”While internet users grew by 4 per cent in urban India — reaching 323 million users (67 per cent of urban population) in 2020, digital adoption continues to be propelled by rural India – clocking a 13 per cent growth to 299 million internet users (31 per cent of rural population) over the past year,” the report said.