Category:

Non-Life

Clean Energy:Mukesh Ambani’s Reliance Industries plans foraying into solar power manufacturing

India, the world’s third biggest emitter of greenhouse gases, plans to expand its renewable power capacity nearly five-fold to 450 gigawatts by the end of the decade, aiming to reduce dependence on fossil fuels that currently drive its economy. Solar power will account for around 62% of the 2030 target, meaning the country will need to add about 26 gigawatts of capacity annually for the next nine years. The country’s own factories can currently meet less than half the demand for modules.

The government is giving 45 billion rupees ($603 million) to companies setting up solar manufacturing facilities.

read more

People cutting spends on health, grocery as fuel prices bite, say SBI economists

”As consumers are spending more on fuel, it is crowding out expenses on health. Our analysis of SBI card spends indicates that spend on non-discretionary health expenditure has been substantially reduced to accommodate increased expenditure on fuel,” group chief economic adviser Soumya Kanti Ghosh said.

”In fact such spending has more than crowded out the spending on other non-discretionary items, like grocery and utility services to such an extent that the demand for such products has significantly declined,” he added.

read more

China tightens control over cybersecurity in data crackdown

Beijing is increasingly sensitive about control over information about its people and economy. Companies are barred from storing data about Chinese customers outside China. Companies including ride-hailing service Didi Global Inc, which recently made its US stock market debut, have been publicly warned to tighten data security.

Under the new rules, anyone in China who finds a vulnerability must tell the government, which will decide what repairs to make. No information can be given to “overseas organisations or individuals” other than the product’s manufacturer.

read more

Medicare evaluating coverage for $56,000 Alzheimer’s drug

“We want to consider Medicare coverage of new treatments very carefully in light of the evidence available. Our process will include opportunities to hear from many stakeholders, including patient advocacy groups, medical experts, states, issuers, industry professionals, and family members and caregivers of those living with this disease” CMS( Centers for Medicare and Medicaid Services) Administrator Chiquita Brooks-LaSure said in a statement

read more

Maha unveils new EV policy, sets 10 pc share in total registrations by 2025

”The policy has some ambitious targets. Electric vehicles must comprise at least 10 per cent of total vehicles registered by 2025. We also want to achieve 25 per cent EV share in public transport in Mumbai, Pune, Nagpur, Aurangabad and Nashik. It includes converting 15 per cent of the MSRTC fleet into EVs by 2025. We also intend to make Maharashtra the top producer of battery driven EVs in India in terms of annual production capability,” Singh said.

read more

‘Sputnik, AstraZeneca mix & match results by end of July’

This approach has been really pioneered by Sputnik V in the beginning. So we are open for mix and match a Covishield in India. We believe there will be a great result. Covishield is the same vaccine as AstraZeneca so we believe that trials will show high efficacy. We hope that the Serum Institute of India (SII) can produce Sputnik V and mix and match as well. It will be a true partnership,” said Dmitriev.

read more

Covid-19 Risks: Cyber-attacks and Data loss top concerns facing Directors & Officers: Report

Jennifer Tiang, Regional Cyber Leader for Asia at Willis Towers Watson, said: “The survey results reflect the growing realisation that cyber risk is not simply an issue to be handled by an organisation’s IT team.  It is a much broader issue cutting across all spheres of business and necessarily draws together stakeholders from risk, legal and IT teams, as well as requiring awareness of all employees from the ground up and board oversight from the top down. From cyber-attack to data loss, the financial impacts of a cyber event can be catastrophic.”

read more

Crowd ban in Olympics could cost reinsurers up to $400m: Fitch

“We estimate the total insurance cover for the Olympics to be about USD2.5 billion, comprising USD1.4 billion taken out by the International Olympic Committee and the Tokyo Organising Committee, USD800 million by broadcasters and USD300 million by other parties, such as sports teams, sponsors and hospitality. We believe reinsurers would bear most of the losses arising from this cover given that high-severity exposures are typically heavily reinsured,” said Fitch

read more