Last Updated March 8, 2021

The United States reports over 28,999 thousand confirmed cases of COVID-19 as on March 8, 2021 and remains as the nation with world’s highest number of COVID-19 cases. The country reports a case fatality ratio of 1.81% and 160.27 deaths per hundred thousand of the population. According to data reported by the CDC, 17.7% of the total population have been administered with at least one dose of the COVID-19 vaccine, as on March 7, 2021.

India: Daily new cases of COVID-19 infections in India, which were witnessing a moderate decline over past six months and until mid-February 2021, are now on the rise again. The active cases stood at 1,88 thousand as on March 8, 2021 and over the past three days, the daily confirmed cases crossed 18,000 mark. As on the date, the fatality rate stood at 1.43%, with total confirmed cases reaching over 11,229 thousand.

Brazil: The fatality rate in Brazil surged over past one week, and March 3, 2021 alone recorded around 1,900 COVID-19 associated deaths, the highest COVID-19 associated deaths in a single day for Brazil, ever. The government has re-introduced lockdown measures to fight the surge in COVID-19 cases in the capital city of Sao Paulo. However, as the nation expands it's vaccination drive, the pandemic scenario is expected to come under control during the first half of 2021 itself.

The inflation rate of China for 2021 has been kept unchanged at 1.42%, aligned to that of the previous weekly revision. However, the inflation rate of Japan for 2021 has been revised to -0.10%, from -0.12% of the previous weekly releases. In addition, the inflation rate of the United Kingdom for 2021 revised to 1.72%, from 1.69% of the previous weekly revision.


IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.


The global economy is estimated to contract by 4.2% in 2020 and bounce back by 5.3% in 2021.

Impact of Covid-19 on equity indices

- SECTOR IMPACT: Finance -

Last Updated March 12, 2021

Clinical trial market impact


Trial disruption is leveling off and disrupted trials saw a small dip, with 1,032 trials still disrupted and 579 pharma/biotech companies and contract research organisations associated with disrupted clinical trials.


There are currently 3,414 clinical trials underway for Covid-19, including 172 multinational trialsroboto slab and 2,818 single-country trials.

Citi drives sustainable development through support of World Bank bond

Citi has revealed it acted as sole structurer and arranger on the World Banks $100m 5-year bond, which will support the International Bank for Reconstruction and Development’s (IBRD) ongoing sustainable development.

The bond will also support similar efforts from the United Nations Children’s Fund (UNICEF), as children worldwide have been severely impacted by the effects of the pandemic. The issuance will channel $50m to UNICEF to support its Covid-19 response programmes for children across a 5-year period.

Investors included a combination of institutional and ultra-high net worth (UHNW) clients of Citi Private Bank.

Liechtenstein’s LLB profit slips in 2020 amid challenging market

Vaduz-based private bank Liechtensteinische Landesbank (LLB) results for 2020 show fall in operating income and net profit, amid the turbulence caused by the Covid-19 pandemic.

The bank posted a net profit of $117.9m (CHF109.8m) in 2020, a decrease of 11% compared with a profit of CHF123.4m in the prior year.

Operating income dipped 5% to CHF430.3m from CHF452.7m over the period.

LLB said that its earnings were hit by the significant drop in US dollar interest rates, the negative interest rate environment in Switzerland and Europe as well as higher loan loss provisions.

Meanwhile, the net interest income increased around 2% year-on-year to CHF154.1m.

Net fee and commission income fell to CHF199.1m from CHF209.2m while net brokerage climbed 21% to CHF42.1m.

Schroders registers 15% surge in AUM despite pandemic uncertainty

British fund manager Schroders has registered a 15% increase in assets under management (AuM) last year in spite of the economic uncertainty caused by the Covid-19 pandemic.

The company’s AUM rose to £574.4bn ($799bn) in 2020 from £500.2bn a year ago.

Schroders Group chief executive Peter Harrison attributed the rise in AuM to the strong demand in its private assets, wealth management and solutions businesses, which currently accounts for 54% the firm’s AUM.

Meanwhile, Schroders recorded a profit before tax and exceptional items of £702.3m, while net inflows to £42.5bn from £43.4bn last year.

The company’s partnerships, majorly in Asia, generated a further £12.4bn of net inflows, bringing total net flows to £54.9bn AuM including partnerships reached £663bn.

Net income increased by 3% to £2.18bn as against £2.12bn in 2019.