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Fast-growing Asian economies China, India,Thailand and Philippines most vulnerable to climate change: Swiss Re Report
Risk reduction through adaptation fosters insurability. The...
Red Sea attacks add urgency to Mideast Trade route
Almost all of India’s trade with Europe goes through the Red Sea...
Japan ship deviated from shipping lane before Mauritius impact, data shows
It was not immediately clear why the ship appeared to deviate from its course. Tracking data for other cargo vessels passing close to Mauritius recently show them all sticking to the shipping lane.
The Mauritius coast guard had repeatedly tried to reach the ship to warn it that its course was dangerous but received no reply, Reuters reported this week.
ICICI Gen acquiers Bharti AXA Gen in an all- stock deal valued at Rs 4,200 crore
AXA and Bharti to combine their non-life operations in India into ICICI Lombard, in exchange of shares, said Axa.
Under the terms of the agreement, AXA and Bharti will receive a total of 35.8 million shares of ICICI Lombard on closing, which would represent Euro 521 million at current market value, and an implied HY 2020 P/BV4 multiple of more than five times. The transactionis expected to result in a one-time positive net income of approximately Euro 0.2 billion in AXA Group’s FY 2021 consolidated financial statements,said AXA..
107-year-old Maharashtra woman beats COVID-19
The centenarian had recently undergone a spine surgery and when she tested positive for the virus, her old age posed a major challenge in her recovery, Jalna district civil surgeon Archana Bhosale said.
Chinese insurance tech firm Waterdrop raises $230 million, plans U.S. IPO
Two sources with knowledge of the fundraising told Reuters that Waterdrop was valued at nearly $2 billion in the funding round. One of them said that Swiss Re itself had invested $100 million.
Swiss Re declined to comment on its investment size, but said the company’s participation in the round was part of its long-term commitment to China.
Twitter privacy ruling delayed after dispute among EU regulators
Twitter had looked set to become the first big technology company to face a fine by Ireland’s Data Protection Commission (DPC) under tougher EU data protection rules after it submitted the decision to other member states in May.
Under the EU’s General Data Protection Regulation’s (GDPR) “One Stop Shop” regime introduced in 2018, regulators can impose fines for violations of up to 4% of a company’s global revenue or 20 million euros ($22 million), whichever is higher
Bayer to pay $1.6 billion to resolve U.S. claims for Essure birth-control device
Women have claimed in lawsuits that the device, which is implanted in the fallopian tubes to permanently block the passage of eggs to the uterus, could pierce the tubes, and that the device’s metal parts could become dislodged and migrate to other parts of the body.
Indore cleanest city in India for the fourth time, five others rated 5-star
Indore city in Madhya Pradesh emerged as the cleanest city for the fourth time in a row, Surat and Navi Mumbai won the second and third position respectively in the more than 100,000 population category.
Mysuru city in Karnataka had won the award for the cleanest city of India in the first edition of the survey in 2016, while Indore had retained the top position for three consecutive years.
Chhattisgarh won the prestigious title of the cleanest state in the more than hundred urban local bodies category, while Jharkhand was adjudged the winner in the less than hundred urban local bodies category. An additional 117 awards were also handed over by the Minister.
India’s COVID-19 caseload crosses 28-lakh mark
There are 6,86,395 active cases of coronavirus infection in the country which is 24.20 per cent of the total caseload, the data stated.
India’s COVID-19 tally had crossed the 20-lakh mark on August 7
Covid hit 20% of meat workers in No. 1 chicken exporter Brazil
Employees in the meat industry have been deemed essential globally as companies try to keep up with protein demand. But the workers face conditions ripe for the spread of disease, and outbreaks have emerged from South America to Europe and Australia. Brazil is the world’s biggest exporter of poultry and beef and a key supplier of pork.
China govt-backed class actions take aim at corporate fraud – with limits
Under the new litigation process, either the courts or a regulator must find that a company has broken the rules, or the company must admit wrongdoing, before a class-action lawsuit can be launched.
In addition, class-action suits launched by individuals, not the CSISC, can only include investors who opt in, reducing the number of plaintiffs and the size of the claim.