In June, European consumer rights body BEUC lodged a complaint at...
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Small aircraft skids off runway at Mumbai airport amid heavy rains; 8 people injured
The passengers on the Vizag-Mumbai flight included Dhruv Kotak,...
SC asks Centre if change in law is warranted on issue of regimes for grant of driving licence
The constitution bench is dealing with a legal question which...
Boeing Creates $50M Crash Victims’ Fund
Boeing reiterated on Wednesday that the money distributed through the fund would be independent from the outcome of any lawsuits. The company is facing a slew of litigation from the families of victims of both crashes.
Freak weather poses new risk to India’s renewables goals
It’s not just unpredictable rainfall but also solar radiation in India that can no more be taken for granted. Over the last 6-8 months radiation has been lower by 4% to 6%, hurting power generation, according to Vinay Rustagi, managing director at renewable energy consultancy Bridge to India Energy Pvt.
Government to prepare national data on unorganised sector
There is no separate published data for unorganised sector as a whole. “However, the shrinking of unorganised sector is a positive indicator of development,” Labour and Employment Minister Santosh Kumar Gangwar said
DGCA found safety management system of 5 airlines deficient: Govt
Civil Aviation Minister Hardeep Singh Puri said the audits also found that the flight crew rostering software was not upgraded and untrained staff were manning check-in counters.
Shipping firms begin hiring unarmed guards for voyages in Middle East Gulf
-Jim Hilton, managing director with maritime security company PVI, said while a ship’s crew were able to carry out functions including increased watches and regular walk-rounds of the vessel, external support could provide “psychological comfort.”
-Additional insurance premiums are up tenfold, adding as much as $100,000 in costs for a supertanker sailing on a seven-day trip, ship insurers added
Harvard University invests in Litigation Finance Fund
Litigation finance has made inroads with law firms and litigants around the world, with investors committing an estimated $9 billion over the long-term to the growing industry, according to Bloomberg Intelligence. The funds, which have been knocked for fueling more lawsuits, pursue strategies from financing cases against corporations to providing cash advances to individual plaintiffs in exchange for a share of settlements.
More than one in 10 firms losing over $10 million due to cyberattacks:Willis Towers Watson
“Other than the direct costs such as financial expenses and fines arising as a result of cyber breaches, indirect costs such as opportunity costs, reputational damage and loss of customers can be equally or even more costly to companies. While the immediate losses from an incident may not be catastrophic, it may take more than five years for a company to feel the full financial consequences, particularly if a company has lost their competitive advantage as a market leader. It is therefore important for companies to take an integrated approach in assessing and managing their reputational risks,” added Jessica Wright, Cyber Leader Asia, Corporate Risk & Broking at Willis Towers Watson
Indo-UK partnership to focus on insurance,fintech, green finance and infrastructure investment
As the most recent budget announced by the new Indian Finance Minister shows, there’s a lot of opportunity for collaboration. Whether it is developments in the insurance sector, raising capital from external markets or infrastructure expertise – the City is well placed to help, he said.
EU braces for No-Deal Brexit if Johnson becomes UK Prime Minister
A no-deal Brexit could tip Britain into recession, undermine sluggish euro zone growth and weaken London’s claim to be the world’s pre-eminent international financial center.
Relaxing foreign-ownership laws will benefit Indian insurers:Fitch
“We believe increased international involvement, particularly from developed markets, will contribute positively to the development of distribution networks, use of technology in distribution as well as bring in expertise in areas such as marketing and client-servicing,” said Fitch.