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India to pursue Seafarers’ Emergency Support Network, confident of global backing: MEA
Sudhakar Dalela, Secretary (ER), Ministry of External Affairs The proposal assumes significance amid heightened geopolitical tensions and disruptions along key maritime routes and energy chokepoints, highlighting the need for greater international coordination to...
“I think that will happen”: OpenAI CEO Sam Altman hints at safety pact with other AI companies
Sam Altman,Chief Executive Officer,OpenAI Urgency has mounted following recent security breaches involving autonomous agent swarms compromising platforms like Hugging Face and covertly exchanging data across disused digital repositories. Compounding these pressures,...
Iran, Oman agree on new entry, exit routes for Strait of Hormuz: Report
The development comes amid heightened tensions in West Asia, with the strategic waterway remaining a key focus of regional and international attention.The Iranian and Omani sides reached an understanding on the new routes following consultations, with details set to...
“Exponential growth of AI a warning sign”: Anthropic CEO Dario Amodei continues push for AI safeguards
Dario Amodei,CEO,Anthropic Amodei then proposed a three-step plan for pacing the frontier and building AI at a balanced rate that aims to ensure its safety. These include; each frontier AI company committing to giving ongoing, employee-like access to a team of...
National Lok Adalat gives compensation of Rs 2.4 cr to kin of banker killed in Navi Mumbai accident
Banker Khurshid Ahmad was 49 at the time of incident and had an annual income of Rs 25 lakh. THANE:The National Lok Adalat held in Belapur in Navi Mumbai on Saturday resolved a motor accident claim by awarding compensation of Rs 2.40 crore to the family of a deceased...
Saudi shuts key oil pipeline as Houthis control Red Sea coast
The 1,200-kilometre (745-mile) pipeline running across the Arabian Peninsula had helped Saudi Arabia to bypass a shipping logjam in the Strait of Hormuz, where tanker traffic has slowed to a trickle due to the war between the US and Iran. Saudi Arabia has shut down...
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Amazon Pay plans to expand insurance offerings in broader financial services push in India
Vikas Bansal, CEO, Amazon Pay India "Health is our next frontier," Vikas Bansal, CEO ,Amazon Pay India said, adding that health insurance was an important area for expansion as medical care costs have risen and a relatively small proportion of Indians have personal...
BRICS finance chiefs urge reform of global development financial institutions
"We continue to have serious concerns with the unilateral imposition of trade and finance-related actions, including the raising of tariffs and non-tariff measures, which distort trade and are inconsistent with World Trade Organisation rules," the finance chiefs'...
AI ‘Arms Race’ still poses global stability risk, BIS chief says
Pablo Hernandez de Cos, general manager, the Bank for International Settlements The dynamics of the current situation pose particular risks, he added, noting that AI investment is concentrating among only a few players, and capital spending outpaces cashflow at such...
Sivasankar gets additional charge as NIA CMD
S. Sivasankar, Executive Director,New India Assurance The FSIB has aleady selected Lavanya R. Mundayur, CMD, Agriculture Insurance Company, as the next CMD of NIA and the necessary order is under process with the government. Mumbai: The Ministry of Finance has given...
Govt amends E-Commerce Rules to strengthen consumer protection
The Consumer Protection (E-Commerce) Rules, 2020, notified under the Consumer Protection Act, 2019, provide the framework for safeguarding consumers against unfair trade practices in the e-commerce sector. The amended Rules 2026 further strengthen this framework in...
Banking services impacted as unions go on nationwide strike to press for 5-day workweek
The strike call given by the UFBU, an umbrella body of seven unions representing 90 per cent of officer and employee strength, did not impact the functioning of private sector banks. NEW DELHI: Banking services, especially at public sector banks across the country,...
NSE IPO Price Band Set: Rs 1,700-1,785; Opens Sep 17
The IPO will be entirely an offer for sale (OFS) of up to 12.64 crore equity shares by existing shareholders including some state owned insurers , compared with 14.9 crore shares planned earlier. The reduction in the OFS size has brought down the overall issue size...
FY26 Performance: Indian general insurance underwriting losses surge 54% to Rs 46,632 crore,profit plunges 92% to Rs 953 crore
The underwriting blowout has virtually wiped out industry profitability. Aggregate net profit plunged 92% year-on-year to just Rs 953 crore in FY26, while the industry’s average combined ratio deteriorated sharply from 112.61% in FY25 to 117.83%, underscoring the...
Houthis advance along Yemeni coast, threaten Saudi oil exports in the Red Sea
Saudi Arabia, the world's largest oil exporter, has relied on the Red Sea route since the Iran conflict effectively closed Hormuz, through which a fifth of global oil used to flow. CAIRO/WASHINGTON/DUBAI: Iran-aligned Houthis seized control of Yemen's port city of...
UK airlines say they’re left on the hook for ATC outage cost
The financial fallout from the fault at the National Air Traffic Services “will run into tens of millions of pounds, falling entirely on airlines,” Tim Alderslade, chief executive officer for industry group Airlines UK, wrote Wednesday in a letter to UK Transport...
From digital India to intelligent India: Jyotiraditya Scindia outlines vision for trusted digital finance
Union Minister for Communications Jyotiraditya Scindia cited the Financial Fraud Risk Indicator (FFRI), mandated by the Reserve Bank of India, as part of efforts to identify suspicious transactions and strengthen coordination across the banking ecosystem.The system...