Indian

After COVID-19, ‘black fungus’ robs some in India of their eyesight

Jul 1, 2021

After a catastrophic second wave of COVID-19 in India since April which has seen its overall death toll climb to almost 400,000, thousands who contracted the virus also suffered from a rare fungal disease called mucormycosis, or “black fungus”.

Data, demographic dividend present huge opportunity; this decade to be ‘India’s techade’: PM

Jul 1, 2021

He cited an example of how Digilocker has helped millions of people especially during the pandemic by providing a digital storage facility for school certificates, medical documents and other important certificates.
Modi highlighted that 2.5 lakh CSCs had helped take the Internet to remote areas. Under Bharat Net scheme, work is underway on a mission mode to bring broadband internet to the villages.

Dr Reddy’s denied approval for Phase 3 trials of Sputnik Light vaccine

Jul 1, 2021

“The Subject Expert Committee has denied permission to Dr Reddy’s to conduct phase-3 trials on the Russian vaccine Sputnik Light in India,” sources told ANI here.

After launching Sputnik V, Russia had introduced a new single-dose vaccine called Sputnik Light in May.

Digit Insurance profit falls 30% to 123 crore in 2020-21, combined ratio at 109.4%

Jul 1, 2021

The insurer is raising $200 million from new investors Sequoia Capital India and IIFL Alternate Asset Managers as well as existing investor Faering Capital and others in a round expected to generate a valuation of $3.5 billion, said a statement by the company.

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International

Bank of England fires warning shot to insurers over capital, Libor

May 15, 2019

The BoE and the Financial Conduct Authority have written to the chief executives of insurers and banks, asking them to spell out their preparations for effectively ditching the use of Libor by the end of 2021.The BoE wants insurers to reference its overnight rate SONIA in contracts and balance sheet assessments after banks were fined billions of pounds for trying to rig Libor.

Cyber Insurance growth slows down in US, records reaching $2 Billion in 2018, Fitch

May 15, 2019

Standalone cyber insurance premiums grew 12% in 2018, according to insurer statutory financial data. Fitch said high profile cyber events and previous uncertainty around cyber terms in commercial insurance policies continue to demonstrate the need for coverage. Insurers are addressing silent cyber risks by adding affirmative coverage in policies, including sublimits and cyber endorsements, but these efforts vary widely among individual companies.

WhatsApp vulnerability allowed secretive installation of spyware

May 14, 2019

Attackers could transmit the malicious code to a target’s device by calling the user and infecting the call whether or not the recipient answered the call. Logs of the incoming calls were often erased, according to the report.

Saudi Arabia says two Saudi oil tankers attacked near UAE waters

May 13, 2019

Iran’s foreign ministry called the incidents “worrisome and dreadful” and asked for an investigation into the matter.The strait, a vital global oil and gas shipping route, separates the Gulf states and Iran, which has been embroiled in an escalating war of words with the United States over sanctions and the U.S. military’s presence in the region

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