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Tag: crisis

Snakebites are ‘world’s biggest hidden health crisis’

Snakebites are ‘world’s biggest hidden health crisis’

World
A multi-million pound fund has been launched to improve treatment for venomous snakebites, which are thought to kill up to 138,000 people a year.The World Health Organisation (WHO) figure is an upper-estimate because bites are not always recorded effectively in the countries they are most common. Of the roughly 5.4million people who suffer venomous bites around the world each year, 400,000 suffer life-changing injuries such as paralysis or amputations.Scientists have described snakebites as the world's biggest hidden health crisis.Existing methods to make antivenom, using antibodies extracted from horses, have not changed since the 19th century and lead to a high risk of contamination and adverse reactions in patients. Advertisement...
Tax Arbitrage: The nudge to solve the current debt mutual fund crisis

Tax Arbitrage: The nudge to solve the current debt mutual fund crisis

Finance
By Somnath MukherjeeIt’s been the non-proverbial Ides of several months now for the credit markets. It started with the IL&FS default last year, but it has been a series of blow-ups since then — the latest being downgrades in two Reliance ADAG group companies. The most immediate impact has been on certain debt mutual funds (MF), that have been large investors in several companies that have come under stress. The most debilitating effect though isn’t about drop in prices — after all MFs are market instruments and subject to price volatility — it is about the absolute lack of liquidity in bonds that come under stress. Given that MFs, for most parts, are open-ended vehicles (i.e., unitholders have a right to withdraw their investments on demand), it is the appropriateness of MFs investing
Nature crisis: ‘Shocking’ report details threat to species

Nature crisis: ‘Shocking’ report details threat to species

Science
On land, in the seas, in the sky, the devastating impact of humans on nature is laid bare in a compelling UN report. One million animal and plant species are now threatened with extinction.Nature everywhere is declining at a speed never previously seen and our savage needs for ever more food and energy are the main drivers.These trends can be halted, the study says, but it will take "transformative change" in every aspect of how humans interact with nature.Three years in the making, this global assessment of nature draws on 15,000 reference materials, and has been compiled by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES). It runs to 1,800 pages. The brief, 40-page "summary for policy...
Sebi to soon act decisively on the crisis in debt fund mart

Sebi to soon act decisively on the crisis in debt fund mart

Finance
By Ruchi BhatiaMarket regulator Sebi may could soon step into the crisis in debt mutual funds, after Kotak AMC and HDFC AMC rolled over some of their fixed maturity plans (FMP), putting investors' money at risk. Sources told ETNow that Sebi could soon unveil fresh directives to reign in mutual funds acting like banks. “Mutual funds are not banks. They do not have capital adequacy ratio like banks, neither do they have the adequate expertise to evaluate risks. So why should investors' money be put at stake,” said a Sebi official who is in the know of the development. ETNow learnt that the new directive will ensure higher disclosures in case of a default by companies and will also aim to cap exposure to debt securities of a single company. To ensure higher transparency and accountability b
Venezuela crisis: Defiant Maduro claims victory over Guaidó ‘coup’

Venezuela crisis: Defiant Maduro claims victory over Guaidó ‘coup’

World
Media playback is unsupported on your device Venezuela's President Nicolás Maduro claimed to have defeated what he called a military coup attempt by the opposition leader, Juan Guaidó.Dozens of National Guardsmen sided with the opposition in clashes on Tuesday that injured more than 100 people.But in a defiant TV address, President Maduro said Mr Guaidó had failed to turn the military against him.Mr Guaidó insists that Mr Maduro has lost control of the armed forces, and that a peaceful transition is at hand.The opposition leader appealed for his supporters to take to the streets of Venezuela again on Wednesday.Mr Guaidó has been recognised as interim leader of Venezuela by more than 50 countries, including the US, the UK and most in Latin Amer