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SBI to monetise subsidiaries after scaling up their businesses, no IPO for SBI General this year: Chairman
Dinesh Kumar Khara,Chairman,State Bank of India This move is...
Singapore rushes to clean-up oil slick after boat hits stationary fuel ship
Singapore's Maritime and Port Authority said in a statement late...
Egypt Court rejects appeal to free ship that blocked Suez
The lawsuit of Suez Canal Authority asked for $916 million in compensation. The operator lowered the figure in out-of-court negotiations to $550 million, which the ship’s insurers say is still too high.The Ever Given’s owner has offered to pay $150 million, according to the SCA, which says that doesn’t cover losses of transit fees, damage to the waterway during the dredging and rescue efforts, and costs of equipment and labor.
Bank of England to step up drive to encourage new insurers
London is a global hub for insurers, with 190 insurers from the EU continuing to operate under the BoE’s temporary permissions regime ahead of full authorisation.
The Bank is now deciding whether the EU insurers can operate as a less heavily regulated branch or must become a subsidiary under full UK supervision.
US not fully safe with vaccinations unless coronavirus variants curbed: USAID
“We recognize that no matter how many people we vaccinated at home, the United States will not be fully safe as long as the virus rages on around the rest of the world and continues to replicate and generate new and potentially more dangerous,” Konyndyk, who is assisting the Biden administration’s global response to the coronavirus pandemic, said.
High Court asks Delhi government to publicise Covid-19 helplines in newspapers on daily basis
“In newspapers, one does not find these inserts on a daily basis. These things should be there in the papers every day. Fix a corner or column, may be on page 1 or page 3. Some column on a page should be dedicated to it daily so that people know where to go when they need it. People would be habituated. This is where you are lagging behind,” the bench said.
‘Cascade of Calamities’ Plagues Tokyo’s Olympics Ambitions
Masayoshi Son, the billionaire founder and top executive of SoftBank Group Corp., criticized the push to hold the Olympics while Hiroshi Mikitani, billionaire founder and CEO of online retailer Rakuten Group Inc., compared them to a “suicide mission.”
The Asahi newspaper, a sponsor of the games, called in an editorial Wednesday for Suga to make the decision to cancel the games.
Electric 2-wheelers to account for 8-10% of sales by 2025; 30% by 3-wheelers: ICRA
Globally, EVs now account for 4.4 per cent of new car sales during CY2020 and their share is likely to cross 5 per cent level this calendar year, as per ICRA.
Countries eager to reopen to travel as pandemic recedes
The World Travel & Tourism Council estimates that the sector lost nearly USD 4.5 trillion and 62 million jobs last year. Airlines alone lost USD 126 billion last year and are on track to lose another USD 48 billion this year, according to their largest trade group.
Dutch court orders Shell to deepen carbon cuts in landmark ruling
At a court room in The Hague, judge Larisa Alwin read out a ruling which ordered Shell to reduce its planet warming carbon emissions by 45% by 2030 from 2019 levels.
Shell immediately said it would appeal the court ruling, which comes amid rising pressure from investors, activists and governments on energy companies to shift away from fossil fuels and rapidly ramp up investments in renewable energy.
Cyber crime is growing risk to bank ratings: S&P
Cyber attacks can harm credit ratings mainly through reputational damage and potential monetary losses, it said in a report titled ‘Cyber Risk In A New Era: The Effect On Bank Ratings.’
“Cyber attacks have had only a limited effect on bank ratings to date but can trigger more rating actions in the future as cyber incidents become more frequent and complex,” said Credit Analyst Irina Velieva.
Africa Specialty Risks unveils Parametric Underwriting Division
Mikir Shah, CEO of ASR, commented: “The establishment of the parametric division demonstrates our commitment to de-risking investment and increasing resilience across the African continent. Our vision is to unlock greater and more streamlined protections for insureds, ensuring that inward investment in Africa continues to boost economic activity and growth on the continent, via the integration of innovative, technological solutions.