Cloud-related threats remain the foremost worry, cited by 55% of...
Category:
Eco/Invest/Demography
Latest
AM Best maintains outlook for global reinsurance industry to positive
Property reinsurance rates and terms have been relatively stable...
Govt notifies telecom cyber security rules sets timelines for telcos to report security incidents
Under the rules, every telecom entity will be required to implement...
Paris climate targets not possible without a carbon removal industry the size of oil & gas: Swiss Re study
Christoph Nabholz, Chief Research Officer at Swiss Re Institute, “Carbon removal will need to evolve into a multi-trillion-dollar industry akin to the value of the oil and gas industry today if we are to hit the climate targets set out by the 2015 Paris Agreement. Serious investment in this nascent industry must start now. Failing to tackle climate change could result in global GDP loss of 18%, which we showed earlier this year. No action is not an option.”
Covid-19: Cabinet approves Rs 23,123 crore Emergency Response and Health Systems Preparedness Package
“India COVID-19 Emergency Response and Health Systems Preparedness Project: Phase-II” would be implemented at a total cost of Rs 23,123 Crore, from 01″ July 2021 to 31″ March 2022 with central and state share Rs.15,000 crore and Rs.8,123 crore respectively.
With the focus on immediate needs for the next nine months of FY 21-22, to provide support to Central government hospitals / agencies and to State/UT Governments to augment their existing response to the second wave and the evolving pandemic, including at district and sub district levels in peripheral facilities.
Cairn wins freeze on India state assets in Paris in bid to recover tax damages
“There have been news reports that Cairn Energy has seized/ frozen State owned property of Government of India in Paris. However, Govt. of India has not received any notice , order or communication , in this regard, from any French Court.Government has already filed an application on March 22, 2021 to set aside the December 2020 international arbitral award in The Hague Court of Appeal. Government of India will vigorously defend its case in set aside proceedings at The Hague,” said a statement by the Government of India..
A French tribunal ordered the freeze on some 20 centrally located properties belonging to the Indian government as part of a guarantee of the amount owed to Cairn, the London-listed firm said.
Cairn said it has also registered similar claims against India in courts in the United States, Britain, the Netherlands, Singapore and Quebec.
Covid-19:No fans at Olympics, making Games a TV event
“The infections are in their expansion phase and everyone in this country must firmly understand the seriousness of it,” Dr Shigeru Omi, a top government medical adviser, said.
The Olympics are pushing ahead against most medical advice, partially because the postponement stalled the IOC’s income flow. It gets almost 75 per cent of its income from selling broadcast rights, and estimates suggest it would lose USD 3 billion to USD 4 billion if the Olympics were cancelled.
ECB tweaks inflation target, carves out climate role
In perhaps the biggest change, the central bank said it will do more to help the fight against climate change and will include climate change considerations in monetary policy operations in the areas of disclosure, risk assessment, collateral framework and corporate sector asset purchases.
“The ECB will adjust the framework guiding the allocation of corporate bond purchases to incorporate climate change criteria, in line with its mandate,” it said.
EU fines German car makers $1B over emission collusion
EU antitrust chief Margrethe Vestager said that even though the companies had the technology to cut harmful emissions beyond legal limits, they resisted competition and denied consumers the chance to buy less polluting cars.
”Manufacturers deliberately avoided to compete on cleaning better than what was required by EU emission standards. And they did so despite the relevant technology being available,” Vestager said. That made their practice illegal, she said.
India invites UK companies to invest in insurance sector
The Dialogue saw government-to-government discussions to strengthen cooperation on four key themes: Gujarat International Finance Tec (GIFT) City; banking and payments; insurance, and; capital markets. It was led by senior officials from the UK Treasury and the Indian Ministry of Finance, with participation from independent British and Indian regulatory agencies, BHC said.
Yamuna pollution: Rs 12 cr fine imposed on 12 CETPs for not meeting wastewater standards
Untreated wastewater and poor quality of effluent discharged from CETPs and sewage treatment plants is the major reason behind pollution in the river in Delhi, according to experts. These 12 CETPs are in industrial areas in Jhilmil, Badli, Mayapuri, Mangolpuri, Nangloi, Okhla, Narela, Bawana, Naraina, GTK Road, Keshav Puram. These CETPs do not comply with the requisite standards with respect to biological oxygen (30 mg/litre), total dissolved solid (2,100 mg/l), sulphate (1,000 mg/l), Sulphide (2 mg/l) etc.
British Airways settles with 2018 data breach victims
Law firm PGMBM said those affected by the data leak would receive a confidential settlement following mediation with British Airways. The resolution does not include any admission of liability by the airline, it added.
India expects 3-4 mln Pfizer, Moderna vaccine doses through COVAX by August- sources
Experts have said India needs to administer 10 million doses a day to achieve its aim of immunising all adults by December. It administered about 4 million doses a day in the week to July 2. Apart from Moderna and Pfizer, India has also been courting Johnson & Johnson for vaccine supplies. J&J has already signed a manufacturing agreement with India’s Biological E. Ltd though production has yet to start.