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Indian
Bengal flood situation improves with decrease in rainfall, water receding
The district authorities have been instructed to keep adequate rations, medicines and clothes at the shelters and to be ready to tackle the outbreak of any water-borne diseases. At least 23 people died in the flood. A Damodar Valley Corporation official said it released 40,000 cusec of water from its barrages on Sunday.
Several places in Purba Bardhaman, Paschim Bardhaman, Birbhum, Paschim Medinipur, Hooghly, Howrah and South 24 Parganas have been affected by floods owing to heavy rain and overflowing rivers.
Indian bankers face legal risks as court rulings threaten over $6 billion in loans
Two rulings by India’s Supreme Court that threaten the repayment of loans totalling nearly Rs 50,000 crore ($6.73 billion) to some of India’s largest banks
Any failure to recoup the money adds to stress in the banking sector, which is already dealing with an increased level of bad loans and reduced profits because of the impact of the pandemic.
India gave priority to poor in its strategy to combat COVID-19 crisis: PM Modi
He noted that over 80 crore citizens have been provided free ration after the COVID-19 started in the country.
“Not just wheat, rice or pulses but over 8 crore poor families were even provided free gas cylinders during the lockdown. Over 20 crore women received around Rs 30,000 crores directly in their Jan Dhan bank accounts,” the Prime Minister stated.
8,832 rescued, 29,280 shifted from flood-hit areas in MP: Chouhan
International
Piracy Surges Along Southeast Asia’s Straits of Malacca and Singapore
The straits’ location between the Indian and Pacific oceans has made it one of Asia’s major trading and fuel storage hubs. More than 140,000 vessels larger than 75 gross tonnes arrived at Singapore’s ports last year, up 7% from 10 years ago, according to data from Maritime and Port Authority of Singapore
Reinsurance markets diverge at 1.1 renewal:Willis
James Kent, Global CEO of Willis Re, said: “Other than retro aggregate, some treaty aggregate covers, and liability placements viewed as inadequately priced, most buyers have been able to secure the capacity they require, albeit at considerably increased prices in some of the stressed classes of business. Reinsurers’ client-centric underwriting meant preferred clients achieved their renewal requirements for pricing and conditions more straightforwardly than others. An understandable outcome of this has been a wide variance in the quoting process, which increased the challenge in establishing market clearing prices.”
Allianz buys U.K.’s LV General Insurance Group and Legal & General’s non-life unit
Financial services industry must act faster on climate change: Bank of England Chief
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