Siddarth Mohanty, MD &CEO, LIC Siddartha Mohanty, MD &CEO,...
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Israel-Iran conflict: India Inc braces for wider sea trade disruption
As per a recent Crisil Ratings report, Indian companies use the Red...
India’s EV market rises 23 pc in September with 1.59 lakh unit sales
Electric two-wheeler sales were 0.90 lakh units, a rise from 0.64...
Global average temp rise of 1.5 degrees Celsius in next 20 years: UN report
This report tells us that recent changes in the climate are widespread, rapid and intensifying, unprecedented in thousands of years, said IPCC Vice Chair Ko Barrett, senior climate adviser for the U.S. National Oceanic and Atmospheric Administration. The changes we experience will increase with further warming.
Extreme sea level events likely every year by end of this century: IPCC
If we reduce emissions globally to net zero by 2040 there is still a two-thirds chance to reach 1.5 degrees and if we globally achieve net zero emissions by the middle of the century, there is still a one-third chance to achieve that, said Dr Friederike Otto, Associate Director of the Environmental Change Institute at the University of Oxford and one of the authors of the IPCC report.
Indian Ocean warming at faster pace, India to witness increased heat waves, flooding: Report
”The Indian Ocean region is warming at a higher rate, which means the relative sea level can also increase over the regions. Hence, the coastal regions will see the sea level rise through the 21st century and it will contribute to more frequent and severe coastal flooding in low-level areas and coastal erosion. Along with this, extreme sea-level events that were previously seen once in a hundred years, could also happen every year by the end of the century,” she said.
Non-life insurers to suffer longer from pandemic: Liberty General CEO
The two waves of the deadly viral infection so far have bled the general insurance industry to the tune of around Rs 27,000 crore as over 2 million customers have made industry-wide claims till early July, according to Roopam Asthana, managing director and chief executive of the mid-scale non-life player Liberty General Insurance.
Of this, the whole of FY’21 saw only about claims worth Rs 14,500 crore from around 9.8 lakh customers. As against this, the first three months of FY’22 alone have seen close to 12 lakh customers seeking over Rs 13,000 crore in refunds or cashless hospitlisation, he said and added that this is only from the second wave and no one knows what is in store for the industry as the world is fearing a third wave.
No need yet to adapt Pfizer vaccine for Covid variants: BioNTech Chief
“Making a decision at the moment might turn out to be wrong in three or six months if another variant is dominating. Therefore the timing of the decision must be appropriate,” he said.
ICMR study finds mix of Covishield, Covaxin yields better results
These findings have an important implication for the COVID-19 vaccination program wherein heterologous immunisation will pave the way for induction of improved and better protection against the variant strains of SARS-CoV-2.
Such mixed regimens will also help to overcome the challenges of shortfall of particular vaccines and remove hesitancy around vaccines in people’s mind that could have genesis in programmatic ‘errors’ especially in settings where multiple COVID-19 vaccines are being used, the study highlighted.
Maserati eyes Tier-II, III cities to strengthen presence in India
While the affluence and wide reach of India’s metros cannot be ignored for growing top lines, Maserati APAC head Bojan Jankulovsk said “…we are seeing a new wave of demand coming from non-metro and Tier II cities as well – Lucknow, Kanpur, Indore, Bhopal, Mangalore, Chandigarh, Goa and many more.”
These cities have the “potential to continue providing sizable opportunities in the future too and are proving to be catalysts in spurring demand for super luxury brands”. An evolved customer base, coupled with higher disposable income, is leading to growth of these emerging markets, he added.
GIC Re shuts down Dubai branch, moves its MENA business to India’s GIFT City
.“Following a review of the branch operations, it has been decided to underwrite business emanating from the MENA region (both new and renewal), effective 3 July 2021, from Gujarat International Finance Tec-City,” GIC Re said in a letter addressed to all business partners on 5th August, signed by Balaji Thiagarajan, CEO, GIC Re, Dubai.
GIC Re said that it will continue to service the underwriting and claims run-off from business underwritten earlier from its Dubai office,
Bengal flood situation improves with decrease in rainfall, water receding
The district authorities have been instructed to keep adequate rations, medicines and clothes at the shelters and to be ready to tackle the outbreak of any water-borne diseases. At least 23 people died in the flood. A Damodar Valley Corporation official said it released 40,000 cusec of water from its barrages on Sunday.
Several places in Purba Bardhaman, Paschim Bardhaman, Birbhum, Paschim Medinipur, Hooghly, Howrah and South 24 Parganas have been affected by floods owing to heavy rain and overflowing rivers.
India reports 39,070 COVID-19 cases in last 24 hrs, active cases stand at 4,06,822
India’s COVID-19 vaccination coverage crossed the landmark of 50 crore yesterday. As per government data, cumulatively, 50,68,10,492 vaccine doses have been administered so far. As many as 55,91,657 vaccine doses were administered in the last 24 hours, stated the Health Ministry