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FTX used Python code to fake its insurance fund figure: Co-founder
FTX's insurance fund was designed to protect user losses in case of...
India had world’s highest number of preterm births in 2020: Lancet study
The high numbers of preterm births in these countries and areas...
35% minimum shareholding norm for listed firms may be put on hold: Report
“(On) the FPI tax issue we are putting our heads together,” the source said, adding that the Prime Minister’s Office, his Economic Advisory Council and the government’s think-tank Niti Aayog are looking at the issue.
Lok Sabha passes Bill to set up National Committee on Dam Safety to prevent dam failures
Observing that safety of dam is extremely important as it concerns lives of people, property and flora and fauna, the Jal Shakti Minister Gajendra Singh Shekhawat said “there is a need to have a common protocol for safety of dams in the country.”
Parametric insurance cover provides French farmers with drought relief
Parametric insurance debuted in the 1990s with a focus on catastrophic events such as earthquakes and hurricanes, typically in emerging markets. Increasingly, however, the reinsurance industry is applying the model to risks once deemed uninsurable, aided by advances in data science.
UK regulator asks insurers to weigh possible business impact of Climate Change
“What’s most interesting is the way the stress test will change the way the insurers will think about these particular sectors,” said Mark Lewis, global head of sustainability research at BNP Paribas SA’s asset management unit”
RS passes Motor Vehicles (Amendment) Bill, 2019
Penalty for unauthorised use of vehicles without a licence has been proposed at Rs 5,000 while those driving without a licence will have to shell out the same amount and those found driving despite disqualification would be fined Rs 10,000
India’s gold demand to soften in Q3 on price rise, rural distress: WGC
The fall in consumption could weigh on global prices that have risen nearly 10 per cent so far in the 2019, but could help in bringing down the south Asian country’s trade deficit, supporting the rupee.Rural distress, higher prices and a hike in India’s import tax could dampen demand during the September quarter, said Somasundaram PR, the managing director of WGC’s Indian operations.
Monsoon expected to be normal in August, September, says IMD forecast
Quantitatively, the rainfall across the country as a whole during the two-month period is likely to be 100 per cent of the Long Period Average (LPA) with a model error of plus or minus 8 per cent.
Oil tankers cut navigation risks in Strait of Hormuz by vanishing from tracking systems
Ships go dark when they want to avoid prying eyes — Iranian vessels have been doing it on and off for years because of sanctions that penalized buyers of the nation’s oil. Tankers occasionally turn off their signals when rounding the Arabian peninsula, near flash points in Yemen. This doesn’t make vessels invisible or hide them from radar, though it does make their movements harder to track
Companies Act amended to include penal provisions for CSR norm violations
Stating that the bill provides for better clarity related to CSR, she said if a company is unable to spend the earmarked amount for CSR activities within a particular financial year, it shall transfer the same to an CSR or an escrow account to be spend within the next three fiscal years.
3 of 5 costliest disasters hit emerging and developing countries in H1 2019:Munich Re
When looking at the first half of 2019, disasters in poorer countries are worrying because the victims so often have virtually no insurance cover. Cyclone Idai, which hit Mozambique, was in relative terms worse for that country than the Tohoku earthquake – the costliest natural disaster on record – was for Japan in 2011. Almost nothing was insured, so that very few of the people affected were able to obtain prompt financial assistance for the loss of their belongings. Experience has shown that such countries often take years to recover from disasters. The insurance industry therefore needs to promote partnerships with governments and development banks to provide greater assistance to countries like Mozambique, ” said Torsten Jeworrek, member of the Board of Management, Munich Re said