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Regulatory changes to provide necessary push to surety bonds business say experts
"The expectation that surety bonds should be cheaper than bank...
Cyclone Dana impacted 35.95 lakh people in Odisha no human casualty so far Minister
The worst-hit districts include Kendrapara, Balasore and Bhadrak,...
High blood pressure driven by obesity, poverty – WHO study
Hypertension can be easily diagnosed by monitoring blood pressure, and treated with low-cost drugs, but half of affected people are unaware of their condition which is left untreated, the WHO and Imperial College London said in a joint study published in The Lancet.
While hypertension rates have changed little in 30 years, the caseload has shifted to lower-income countries as wealthy nations have brought it largely under control, the study said.
The world economy’s supply chain problem keeps getting worse
The cost of sending a container from Asia to Europe is about 10 times higher than in May 2020, while the cost from Shanghai to Los Angeles has grown more than sixfold, according to the Drewry World Container Index. The global supply chain has become so fragile that a single, small accident “could easily have its effects compounded,” HSBC Holdings PLC. said in a note.
Tech companies pledge billions in cybersecurity investments
Google has committed to invest $10 billion in cybersecurity over the next five years, money aimed at helping secure the software supply chain and expand zero-trust programmes.
China’s BRI project causing environmental degradation in South Asia, says report
South Asia is amongst the main regions likely to be hit severely by the negative environmental impact of climate change. BRI announced by Beijing in 2013, will exacerbate these trends, reported European Foundation for South Asian Studies (EFSAS).
The Environmental Kuznets Curve (EKC) report said the environmental trends in South Asia generally correspond to the development trajectory, that causes pollution through growing industrialisation, which has become one of the key environmental characteristics of South Asia, says EFSAS.
Make ‘bumper-to-bumper’ insurance mandatory : Madras HC
“, this court directs that whenever a new vehicle is sold after September 1, it is mandatory for coverage of bumper to bumper insurance every year, in addition to covering the driver, passengers and owner of the vehicle, for a period of five years. Thereafter, the owner of the vehicle must be cautious in safeguarding the interest of driver, passengers, third parties and himself/ herself, so as to avoid unnecessary liability being foisted on the owner of the vehicle, as beyond five years, as on date there is no provision to extend the bumper to bumper policy, due to its non-availability, said Justice S Vaidyanathan of the Madras High Court.
Kerala HC to examine whether weddings under SMA can be solemnised online
The order came on the pleas by several petitioners who have contended that personal physical presence of the bride and groom is not necessary for solemnisation of nuptials under the law.
The state government, on the other hand, is not in favour of online solemnisation of marriages under the Act.
It has contended that solemnization of marriage was mandatory prior to registering it under the SMA and therefore, presence of the two sides and the witnesses is required before the Marriage Officer.
ESG bonds likely to top USD 10 bn this year: JP Morgan
Globally, the environmental, social and governance (ESG) has become a key board-room topic since 2013-14 and soon investors have also been asking on the ESG principles of their investee companies.
The ESG idea has caught the attention of domestic corporates, investors and analysts as well and since 2015, 41 companies have raised over USD 17.2 billion in such funds of which USD 6.24 billion this year alone.
Green bonds will continue to be led by renewable energy players, according to Agarwal, who sees green bond issuances gaining traction even outside the renewable energy space, such as the ones by Ultratech Cement and Delhi Airport. Also, more green debt will be raised to cut carbon emissions by sectors like steel and cement.
Finance Ministry exploring insurance bonds as alternative to bank guarantees
“Government is exploring on instituting insurance bonds as alternatives to bank guarantees,” an official statement said.
Bank guarantees are usually asked for while extending a loan and typically require a collateral. An insurance bond is also a surety but it does not require any collateral.
As per reports last year, insurance regulator Irdai was also looking at the option of insurers offering surety bonds in the context of road projects.
Zurich Hong Kong launches domestic helper insurance plan
The cover can be bought by paying an annual premium of HKD946, equivalent to less than HKD2.6 a day.
The cover has multiple new protections, including replacement expenses caused by a domestic helper’s resignation within three months of the initial contract, or intentional/negligent injuries to the household children or elders, and service interruption cover if the domestic helper suffers from cancer or heart disease
Swiss Re and Climeworks sign world’s first 10-yr carbon removal purchase agreement
”To mitigate the risks of climate change, the world needs to scale-up carbon removal on top of, not instead of emission reductions. By partnering with Climeworks we can play to our strengths in this endeavour, as a risk taker, investor, and forward-looking buyer of climate solutions”, said Christian Mumenthaler, Swiss Re’s Group Chief Executive Officer and Co-Chair of the World Economic Forum’s Alliance of CEO Climate Leaders.