In an exclusive interview with Asia Insurance Post, Teck Siong Ng,...
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No ‘spectacular announcement’ likely in Feb 1 Budget, says finance minister
"It is a matter of truth that February 1, 2024 budget that will be...
Global insured losses from severe thunderstorms reach new all-time high of USD 60 billion in 2023, Swiss Re
Jérôme Jean Haegeli,Chief Economist, Swiss Re A high number of...
Coronavirus wreaks financial havoc as infections near 100,000
European stocks continued their slide after the Japanese market dropped to a six-month low, with 97% of shares on the Tokyo exchange’s main board in the red.
Lawsuits against businesses over Coronavirus have begun. More to come?
Hospitals, restaurants, day care centers, nursing homes and hotels may face claims that they didn’t take adequate steps to protect people. Shareholders can sue if companies fail to act effectively in response to the epidemic. Businesses are scrambling to see if their insurance policies cover disruptions caused by the virus. Governments are reviewing their quarantine powers.
UK fines Cathay Pacific $639,000 for data-security lapses over 4-yr period
Between October 2014 and May 2018, Cathay Pacific’s computer systems “lacked appropriate security measures which led to customers’ personal details being exposed, 111,578 of whom were from the UK, and approximately 9.4 million more worldwide,” the UK Information Commissioner’s Office said in a statement on its website on Wednesday.
SBI & LIC likely to bail out capital starved Yes Bank:Report
SBI, while neither denying nor confirming the news report, told stock exchanges that it will abide by the timelines under SEBI disclosure regulations in disclosing the developments, if any in the matter to Stock Exchanges.
IRDAI proposes 10-15% hike in 3rd party motor premiums from Apr 1
A discount of 15 per cent is proposed for electric private cars, elctric two wheelers, electric goods carrying commercial vehicles and electric passenger carrying vehicles. The proposed discount will incentivize usage of environmental friendly Vehicles, said IRDAI..
RBI puts troubled Yes Bank under moratorium,limits withdrawals at Rs 50k
The RBI has also superseded the Board of Directors of Yes Bank for a period of 30 days owing to serious deterioration in the financial position of the Bank.
Prashant Kumar, ex-DMD and CFO of State Bank of India has been appointed as the administrator of the bank.
Coronavirus does not spread through chicken, mutton, seafood: FSSAI chief
On March 2, poultry breeders demanded a relief package from the government claiming that the sector has incurred heavy losses of around Rs 1,750 crore in a month due to fake news that eating chicken could spread coronavirus.
Existing health policies cover coronavirus:GI Council
To increase awareness about non-life insurance, GI Council, the apex body of general insurers, with support from the Insurance Regulatory Authority of India (IRDAI), has launched an awareness and education campaign – Faayde Ki Baat.
India’s $476 billion forex firepower can help arrest rupee’s panic drop
Citibank on Wednesday said the rupee appeared to have over-reacted to confirmation of the new virus cases and it recommends buying bullish rupee exposure via options. India’s link to the global supply chain is limited and the current-account deficit may narrow due to the virus’ impact on economic activity and lower commodity prices, strategist Gaurav Garg wrote in a note.
EPFO loweres interest rate on employee provident fund to 8.5%
The EPFO invests 85 per cent of its annual accruals in the debt market and 15 per cent in equities through exchange-traded funds.