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Saudi Arabia unveils plans for multinational maritime defence coalition
The coalition would strengthen maritime security, safeguard...
AI to reshape insurance economics, drive scale and specialisation: McKinsey
The report said insurers will increasingly have to choose between...
World faces largest-ever oil supply disruption on Middle East war, IEA says
The supply could rise in April as some Middle East Gulf producers use alternative export routes to bypass the Strait of Hormuz, and said that, for the year, production would still expand more quickly than global demand. The war in the Middle East is creating the...
Chubb to be lead partner on US’s $20 billion Maritime Reinsurance Plan
“Together, DFC and Chubb have identified several American insurance companies to provide reinsurance policies behind Chubb and alongside DFC to expand market capacity,” the agency added. US insurance giant Chubb will be the lead partner on the U.S. International...
Shipping in Straits of Hormuz halted due to safety concerns, not insurance,says IUA chief executive
“Most prominent is shipping in the Straits of Hormuz where trade has been halted, not by a lack of available insurance, but by obvious safety concerns. The market for marine war risks is operating in the manner we would expect, given the increase in threats to...
AI-controlled toys serious threat for safety of children, action being taken: Vaishnaw
"AI-controlled toys are a serious threat to the safety of children. All steps that are required for this are being taken in consultation with the consumer affairs and the home ministries. Whenever we receive reports of any incidents, immediate action is taken," Union...
Amazon not seller but a platform: Court quashes notice against its directors over sale of abortion pills
Kandula Raghava Rao and Noorulamin Mohammed Saheb, directors of Amazon Seller Services Private Limited (ASSPL), had challenged a notice issued by a magistrate court based on a complaint by the Food and Drugs Administration for alleged violation of the Drugs and...
Citi, StanChart evacuate Dubai offices, HSBC closes Qatar branches as fears grow
The moves came after a spokesperson for Tehran's Khatam al-Anbiya military command headquarters said on Wednesday that Iran will target economic and banking interests linked to the U.S. and Israel in the region, after an attack on an Iranian bank. DUBAI/LONDON:...
Drone strikes near Dubai airport deepen Gulf aviation chaos
The U.S.-Israel war against Iran has led to tens of thousands of flight cancellations, reroutings and schedule changes worldwide, shutting much of the Middle East’s airspace – including Qatar's – due to missile and drone threats. DUBAI: Two drones fell near Dubai's...
Investors’ wealth tumbles by Rs 5.14 lakh cr as markets plunge nearly 2 pc
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,672.64 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 6,333.26 crore. Mumbai:Stock market benchmark indices Sensex and Nifty...
Cyber fraudsters using new tech to bypass UPI security for financial transactions: Report
According to the report, the firm has identified at least 20 active groups on messaging platform Telegram, each with over 100 members, where a toolkit by the name of "Digital Lutera" is being discussed, distributed, and operationalised. New Delhi: Online fraudsters...
Govt undertaking special drive to enable cooperative banks to become insurance distributors: Amit Shah
Amit Shah,Union Minister for Home and Cooperation Under the campaign, in alignment with the goal of Insurance for All by 2047 and to realise the vision of Sahakar se Samriddhi, a special drive has been undertaken by the Ministry of Cooperation to enable Cooperative...