Financial Services Secretary Vivek Joshi said that the Assets Under...
Category:
Eco/Invest/Demography
Latest
“Government in process of creating dedicated deeptech startup policy,” says DPIIT Secretary RK Singh
Rajesh Kumar Singh, the Secretary of the Department for Promotion...
Water crisis in India’s silicon valley presents pressing challenge, say industry players
"Companies have started giving work from home, as employees refuse...
IMF official warns coronavirus will weigh on some economies for years
The Fund has provided some $90 billion in total financing to 79 countries, including 20 in Latin America, since the start of the health crisis, an IMF spokeswoman said.
It is continuing to work with member countries on how to contain the pandemic and mitigate its economic impact, First Deputy Managing Director Geoffrey Okamoto told an online event hosted by the Center for Strategic and International Studies.
Okamoto told that Fund officials were in talks with the Group of 20 major economies about extending a temporary halt in official bilateral debt service payments by low-income countries under the Debt Service Suspension Initiative (DSSI), and how to kickstart private sector participation.
California to ban sale of new gasoline-powered passenger vehicles starting in 2035
The move is the most significant yet by a U.S. state aimed at ending the use of fossil fuel-burning internal combustion engines, and clashes with the pro-fossil fuel policies of President Donald Trump’s White House.
The California Air Resources Board (CARB) will turn Newsom’s goal into a legally binding requirement by writing regulations to mandate that 100% of in-state sales of new passenger cars and trucks are zero-emission by 2035. The board also plans to mandate by 2045 that all operations of medium- and heavy-duty vehicles be zero-emission where feasible.
Environmental groups praised the governor’s action on clean vehicles, but automakers were skeptical.
California said it was joining 15 countries that have made similar pledges, including Britain.
Tel Aviv to become first city with electric roads that charge public buses
“Energy is transferred from the electricity grid to the road infrastructure and manages communication with the approaching vehicles,” according to the company’s website.
The electric roads are part of a pilot program led by the Tel Aviv-Yafo Municipality in collaboration with ElectReon, a company developing a system that can charge electric vehicles while they are moving, and Dan Bus Company. The project is being funded by a combination of government and private funds, according to a spokesperson for ElectReon, though a full budget has not been released.
Insurance losses from Western U.S. Wildfires to Be Between $4bn and $8bn:RMS
RMS estimates include losses from property damage, including evacuation and smoke damage, business interruption (BI) across residential, commercial, industrial lines, and additional living expenses (ALE). Smoke and evacuation are significant contributors to losses during the ongoing Western U.S. wildfires, contributing about 20 percent of losses in Northern California fires and about 35 percent in Oregon and Washington fires, respectively.
Mumbai suburbs get over 280 mm rain in 24 hours: IMD
Heavy showers overnight and early Wednesday morning caused waterlogging at many places in the metropolis, disrupting rail and road traffic.
UK insurers under fire as watchdog proposes ‘radical’ ban on loyalty penalties
“The FCA estimates that its proposals will save consumers 3.7 billion pounds ($4.74 billion) over 10 years,” FCA interim chief executive Christopher Woolard said.
ni-msme and IRM India sign MoU to strengthen risk-readiness of MSME sector
The programme will jointly develop policy roadmap to secure Indian MSME sector against future risks
Hersh Shah, CEO, India Affiliate of Institute of Risk Management, UK, said, “In the coming months, we aim to develop a blueprint that will help India’s 6.33 crore MSMEs apply globally-recognised enterprise risk management frameworks and practices, to navigate successfully through the current crisis, as well as safeguard themselves against future uncertain events beyond just financial risks.
A fifth of countries worldwide at risk from ecosystem collapse as biodiversity declines, reveals pioneering Swiss Re index
39 countries have ecosystems in a fragile state on more than a
third of their land – Malta, Israel, Cyprus, Bahrain and Kazakhstan
have the lowest Biodiversity and Ecosystems Services (BES) ranking
• 55% of global GDP depends on high-functioning BES
• Major economies in Southeast Asia, Europe and the US exposed to
BES decline
Christian Mumenthaler, Swiss Re’s Group Chief Executive Officer, said: “There is a clear need to assess the state of ecosystems so that the global community can minimise further negative impact on economies across the world. This important piece of work provides a data-driven foundation for understanding the economic risks of deteriorating biodiversity and ecosystems. In turn, we can inform governmental decision-making to help improve ecosystem restoration and preservation. We can also support corporations and investors as they fortify themselves against environmental shocks. Armed with this information, we can also ensure the provision of stronger sustainable insurance services.“
Air tickets: SC asks Centre to clarify on modalities of refund to passengers, agents
On September 9, the top court had asked the Centre to clarify whether it is willing to give complete refund of air tickets booked for travel during the COVID-19 lockdown.
Long due labour reforms to ensure well-being of workers, give boost to economic growth: PM
New Delhi: Prime Minister Narendra Modi on Wednesday hailed the passage of key labour reform bills by Parliament, saying it will ensure well-being of workers and give a boost to economic growth. The new labour code universalises minimum wages, timely payment of...