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Indian
Covid-19 Pandemic:Gloom gathers over India’s rural economy
Satara: Having watched his father’s funeral pyre burn...
Experts urge India’s richest state to gear up for third wave of COVID-19
“We should have a clear plan, and keep our preparations ready for the next few weeks, whenever the next wave comes,” Rahul Pandit, a member of the state’s COVID task force and a director of Fortis Hospitals Mumbai, told Reuters.
“Our efforts should be directed in delaying the wave as much as we can, and even try to prevent it.”
RBI allows Centrum to take over PMC, re-launch it as SFB in JV with BharatPe
Centrum hopes to complete the licence terms and conditions within the next 120 days, and seek the RBI’s final approval to launch the small finance bank and take over PMC, Centrum Group Executive Chairman Jaspal Bindra said.The group said it will launch the proposed small finance bank (SFB) as an equal joint venture with digital payments start-up BharatPe.
When launched, it will be the first SFB to come up in nearly six years, after the central bank gave licences to 10-odd players in August 2015 and put such bank licensing under the on-tap mode.
17 children died of Covid-19 in Meghalaya, state taking steps to combat third wave: Minister
“So far, 5,101 children in the age group of 0-14 years were diagnosed with the disease. Seventeen children died of the infection since last year,” the minister said.
Noting that the third wave of the pandemic, which is likely to strike later this year, may pose a greater threat to the children, as suggested by experts, he said the state government is making necessary preparations in anticipation.
International
Supreme Court limits International Groups’ immunity for commercial activity in U.S.
The U.S. Supreme Court opened some American-based international organizations to lawsuits, ruling that a World Bank affiliate must defend against allegations it is responsible for environmental damage caused by a power plant in India.Voting 7-1 on Wednesday, the court said sovereign immunity doesn’t protect those international organizations in the U.S. when they are involved in commercial activities.
Smaller nations are the world’s healthiest, Canada tops list
A new analysis, the Global Wellness Index published by investment firm LetterOne, ranks Canada as the best country out of the 151 nations evaluated. The US trails far behind, coming in at 37. In a tighter ranking of G-20 nations combined with the 20 most populous countries on the planet, South Africa comes in dead last, below Ukraine, Egypt and Iraq.
Munich Re leads Pool Re’s £2.3bn terrorism retrocession placement
The retrocession is structured as an aggregate excess of loss treaty which will attach if Pool Re’s losses, individually or in aggregate, exceed £500 million in any year, after member insurers’ combined retention of £250 million per event or £410 million in aggregate. The £2.3 billion total reflects a further annual increase, up from £2.1 billion in 2018, as Pool Re continues to return UK terrorism risk to commercial markets. All of the capacity is written on a 3-year contractual basis.
US Supreme Court rejects Tobacco Firms’ Appeal on Smoker Lawsuits
The justices on rejected appeals by units of Altria Group Inc. and British American Tobacco Plc in eight cases that totaled more than $120 million in awards to smokers and their family members.The appeals, which argued that the companies weren’t being given a fair chance to mount a defense, were similar to previous industry bids turned away by the high court in recent years.
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