In a letter to DGCA, Airline Pilots' Association of India (ALPA...
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RBI mulling e-cheques, widening regulatory ambit to include digital payment cos
As part of its efforts to prevent fraud, the RBI is also planning...
Investors’ wealth slumps Rs 8.86 lakh cr amid geopolitical chaos, surging oil prices
"Investor sentiment remained fragile due to a lack of clarity...
Missile fire hinders Middle East rescue flights as airspace edges open
While major carrier Emirates said on Friday it was targeting “a return to 100% of its network” in the coming days, EU aviation regulator EASA extended a warning about high risks until March 11. Emirati airlines resumed some flights to global cities from the war-hit...
More tankers come under attack as US-Iran conflict spreads in the region
Around 200 ships, including oil and liquefied natural gas tankers as well as cargo ships, remained at anchor in open waters off the coast of major Gulf producers, according to Reuters estimates based on ship-tracking data from the MarineTraffic platform. More tankers...
Strait of Hormuz shipping is at near-total halt, JMIC says
A review of shipping signals have confirmed only two commercial transits in the past 24 hours, the Joint Maritime Information Center said in note on Friday. Those crossings were cargo ships rather than oil tankers, according to the multinational naval advisory group...
London marine insurers still offering Middle East cover as War Risk rates rise: Gallagher
“Given the challenging maritime security environment, rates have increased from levels that owners and charterers will be used to.The cost will vary depending on the vessel type, cargo and routing, however marine insurers are very much continuing to provide cover and...
Lloyd’s market engaging with US government over Gulf maritime plan, officials say
“Lloyd’s is engaging constructively with the U.S. Development Finance Corporation and relevant stakeholders, with a clear focus on ensuring that the Lloyd’s market continues to lead as the global center of excellence for war risk insurance,” a Lloyd’s spokesperson...
Marsh and Aon in talks with US govt on a plan to help insure tankers navigating Strait of Hormuz
President Donald Trump said on Tuesday the US International Development Finance Corporation would offer insurance “at a very reasonable price” to help ensure the flow of energy and other commercial trade in the Gulf. Marsh and Aon Plc, two of the world’s largest...
Commerce, shipping ministries hold consultation meeting amid West Asia tensions; Inter-Ministerial Group for supply chain resilience created
"In this context, the 'Inter-Ministerial Group (IMG) for Supply Chain Resilience' has been created, comprising members from Department of Financial Services, Ministry of External Affairs, Ministry of Shipping, Ports & Waterways, Ministry of Petroleum & Natural...
Trump orders oil tanker insurance support, says Navy could escort ships in Gulf
President Donald Trump Shipping companies and insurers have begun reassessing their exposure to the region. War-risk premiums have jumped and some providers have scaled back or withdrawn coverage, industry.Higher insurance costs have made it more expensive for tankers...
“Too early to assess economic impact on region, global economy”: IMF on West Asia conflict
The IMF also mentioned that it has "observed disruptions to trade and economic activity, surges in energy prices, and volatility in financial markets.The situation remains highly fluid and adds to an already uncertain global economic environment," it said in a...
Middle East Conflict Risks:Global reinsurers shielded by robust capital and earnings
There will be sizable insured losses, and the conflict could have far‑reaching implications for the reinsurance industry.The conflict disproportionately affects specialty lines, a segment that insures complex or high‑risk exposures, including war risk, aviation,...