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Europe asks airlines to steer clear of Russia Airspace after Azeri plane crash
In 2024, commercial aviation suffered its deadliest year since 2018...
EPS-95 pensioners demand Rs 7,500 minimum pension
Pensioners have been agitating for over 7-8 years for an increase...
Sweeping new vaccine mandates for 100 million Americans
“We’ve been patient. But our patience is wearing thin, and your refusal has cost all of us,” President Joe Biden said, all but biting off his words. The unvaccinated minority “can cause a lot of damage, and they are.”
Over 50% agricultural families in debt with average loan of ₹ 74,121 in 2019: Survey
The survey further said the average monthly income per agricultural household during agricultural year 2018-19 was at ₹ 10,218. Of this, the average income per household from wages was ₹ 4,063, crop production ₹ 3,798, animal husbandry ₹ 1,582, non-farm business ₹ 641 and leasing of land ₹ 134.
According to the survey, the number of agricultural households in the country was estimated at 9.3 crore with OBCs accounting for 45.8 per cent, SC 15.9 per cent, ST 14.2 per cent and others 24.1 per cent.
How lung cancer arises in non-smokers revealed
Lung cancer is the leading cause of cancer-related deaths worldwide. Every year, more than 2 million people around the world are diagnosed with the disease. Environmental risk factors, such as exposure to radon, air pollution, and asbestos, or having had previous lung diseases, may explain some lung cancers among never smokers, but scientists still don’t know what causes the majority of these cancers.
Swiss Re sees growing demand for insurance protection, positive outlook for premiums
According to Swiss Re Institute, non-life insurance premiums are expected to be 10% higher than the pre-COVID-19 level by the end of 2021. Heightened risk trends will increase the need for insurance protection, but also require a greater focus on evaluating and modelling, and ensuring pricing is adequate for the risks taken.
India eyes turning 3-wheelers into EVs
Mahua Acharya, MD and CEO,Convergence Energy Services Ltd said there are 5.5 lakh electric three-wheelers (E3W) on the road.
”After accounting for central government subsidy, the price of E2W comes to Rs 55,000 to Rs 1.3 lakh. If states give subsidies, the prices will come down further. At this, price is very competitive (compared to fossil-fuel-based two-wheelers),” she said.
Lloyd’s reports strong H1 2021 results with pre-tax profit of £1.4bn and 92.2% combined ratio
Premium rates increased by 9.9%, continuing the trend of 15 consecutive quarters of positive rate movement.
The combined ratio of 92.2% (HY 2020: 110.4% and 97.0% excluding COVID-19 claims) is a solid improvement with a 4.8 percentage point reduction on the previous year, excluding COVID-19. These results demonstrate the substantial turnaround of Lloyd’s profitability and performance.
Lloyd’s continued to provide significant support to its customers around the world, paying £9.4bn of claims, including to customers impacted by COVID-19 where 80% of the claims notified to date have been paid.
World’s largest plant capturing carbon from air starts in Iceland
Swiss start-up Climeworks AG, which specialises in capturing carbon dioxide directly from the air, has partnered with Icelandic carbon storage firm Carbfix to develop a plant that sucks out up to 4,000 tons of CO2 per year.
That’s the equivalent of the annual emissions from about 790 cars. Last year, global CO2-emissions totalled 31.5 billion tonnes, according to the International Energy Agency.
Direct air capture is one of the few technologies extracting carbon dioxide from the atmosphere and is viewed by scientists as vital to limit global warming, blamed for causing more heatwaves, wildfires, floods and rising sea levels.
IRDA revamps trade credit insurance norms, SMEs and project finance to benefit
Some of new kind of covers that will now available in India are:
“Project Cover”- insurance of receivables, against non-payment by the principal or buyer, provided to a contractor engaged in but not limited to long term infrastructure, civil and industrial projects and services. The project period should be more than six months.
“Protracted Default”- failure by a buyer to pay the contractual debt within a predefined period calculated from the due date of the debt.
“Reverse Factoring arrangement” where any arrangement in whatever name or form, between a borrower and a financer, wherein a borrower receives or is supposed to receive finance, either directly or indirectly, for borrower’s purchase of trade receivables, goods or services
India’s fintech market to triple to Rs 6.2 lakh cr by 2025: MoS Finance Karad
Minister of State for Finance Bhagwat K Karad said that India has been ranked number one in terms of digital transactions and the total digital transactions have crossed 25 billion.
India provides a great ecosystem for Fintech development like access to bank accounts under the PM Jandhan Yojana, digilockers and scalable platforms including UPI.
Reinsurance price rise slowing due to strong capital supply and recovering profitability: Fitch
Fitch expects the sector’s combined ratio, normalised for large losses, to improve by 2pp–3pp in 2021 and another 1pp–2pp in 2022 as price increases gradually feed into underwriting margins.
However, price rises are slowing due to strong capital supply and recovering profitability, and we expect risk-adjusted prices to remain largely unchanged in 2022.