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Covid-19 to shave $25 bn off from top 100 domestic brands’ value: Report
Moody’s cuts India’s rating to lowest investment grade with negative outlook
Moody’s maintained a negative outlook for the new sovereign rating, citing worsening government finances as the coronavirus continues to hurt the economy.
India’s economy grew 3.1% in January-March, its slowest quarterly pace in at least eight years, and Moody’s expects a contraction of 4% in the current fiscal year, which runs until March 2021, due to the strict lockdown imposed in April and May.
India’s coronavirus infections overtake France amid criticism of lockdown
Criticism has grown in recent days that Prime Minister Narendra Modi’s sudden lockdown of 1.3 billion Indians in March has failed to halt the spread of the disease while destroying the livelihoods of millions of people who depend on daily wages.
Community transmission is well underway among the population, a team of independent experts said, adding this would only get worse as public transport opens.
Insurers stare at a Rs 2000 crore hit from “Amphan” devastated WB and Orissa
Till Saturday, the general insurance industry had already received claims worth of Rs 945 crore from these two states with more than 90 per cent of the total claims originating from the economically developed WB, with higher insurable industral areas, where torrential rains coupled with strong winds caused severe flooding and wind related damages especially in the Kolkata metro region, resulting in inundation and damage of both public and private infrastructure.
Around Rs 836 crore of claims have been triggered by the property damages under fire policies from the WB and rest are from motor and other policies.
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