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India may ease rules for non-Chinese investments from Hong Kong
Prime Minister Narendra Modi’s administration is formalizing investment rules for neighbouring countries amid a bloody border standoff with China earlier this year.
That’s led to over 140 proposals worth more than $1.75 billion, including proposals from China and Hong Kong, getting delayed and complicating deal-making for investors.
The framework is expected to speed up the approval process and bring in much-needed clarity for both private equity firms and hedge funds and companies looking for foreign capital as they struggle amid the pandemic generated economic shocks.
3 times increase in number of people using online consultations in India:Report
Visits to secondary care specialists like neurosurgeon, somnologist, cardiologist, and oncologist grew dramatically● 3x increase in the number of people using online consultations
○ 26% of the consultations were with GPs, followed by Dermatology (20%) and Gynecology (16%) and others like Gastroenterology, ENT, and Pediatrics stood at 7% each
○ The fastest-growing health concerns included ophthalmology, ENT, orthopedics, pediatrics, and gastroenterology ○ Delhi, Mumbai, and Chennai saw an average of 16x growth in queries for ENT specialization. Non-metros saw the highest growth of 7x in online consultations, as compared to the same period in the previous year
Indian Pharma majors rush to buy covers for developing Covid-19 solutions
The policy provides cover for legal liability arising out of lack of care or negligence resulting in injury or death of the subject participating in the trial,
’Raheja QBE General insurance, has issued 119 `Clinical Trial Liability Insurance’, policies including 53 covers exclusively for developing Covid 19 remedies from April till November 2020.
“Clinical trial premium is more expensive than other liability products. We have taken reinsurance support for this policy;; said Atul Sahay, CMD, New India Assurance..
, ICICI Lombard General Insurance is now getting ready to provide transit cover for transporting Covid -19 vaccine in India, said Sanjay Datta, Chief – Underwriting, Claims, Reinsurance and Actuarial.
Govt plans tough annual targets for state firms to boost valuations
For the first time, India will include annual targets for state-run companies on metrics such as earnings before interest, tax, depreciation and amortisation (EBITDA), according to the sources and a document on the draft guidelines, which is currently before a government committee.Other targets will include increasing market capitalisation or share price, as well as measures such as return on net worth and capital employed, they said.
For unlisted companies an improvement in earnings per share will be a key parameter instead of market capitalisation, the document showed.
Managers at state-run companies will have their bonuses and incentives linked to meeting the annual targets.
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