Companies failing to comply with the AI Act will face fines of 35...
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Singapore lawmakers amend bill to stop Allianz’s insurance deal
The move comes two days after the government — in a rare move —...
‘India’s growth rate is among the shiniest parts in the world economy’: Ajay Banga
Ajay Banga,president,World Bank A lot of that growth is in India,...
Covid vaccine-makers largely protected on side effects
While some governments will pay compensation due to sufferers, others assume it is the responsibility of the companies even after drug agencies back the vaccines.
In the US, the Public Readiness and Emergency Preparedness Act authorises the health secretary “to limit legal liability for losses relating to the administration of medical countermeasures such as diagnostics, treatments, and vaccines”.
‘Why is Centre not waking up to gravity of the situation’: Delhi HC on oxygen crisis
A bench of Justices Vipin Sanghi and Rekha Palli said responsibility to ensure oxygen supply is squarely on Central government shoulders and if necessary, entire supply of oxygen to industries including steel and petroleum can be diverted for medical usage.
Next three weeks crucial to contain COVID-19: Harsh Vardhan
At a meeting held today, UTs advised augmenting hospital infrastructure, ramping up testing, creating containment zones and strictly enforcing COVID appropriate behaviour,” tweeted Dr Harsh Vardhan.
China launches first class-action lawsuit in war against corporate fraud
China introduced the class-action mechanism to capital markets last year as part of efforts to crack down on corporate malfeasance and bolster investor confidence.
Although corporate fraud is not uncommon in China, retail investors have historically had little chance to make their voices heard. Small investors often likened legal action to ants fighting elephants.
Banned since 2019, Boeing 737 Max allowed to overfly India with DGCA nod
The DGCA stated Tuesday that the ban imposed on March 13, 2019 would not be applicable on foreign-registered 737 Max plane that want to overfly “the Indian airspace”. However, such a plane must have the permissions from “regulatory authority of the state of registry” as well as the DGCA.
Centre working to save lives, livelihoods, FM Sitharaman tells India Inc
She is learnt to have also sought feedback on the impact on businesses and the Indian economy.
Same time around last year, the outbreak had badly hit the economy, which contracted 23.9 per cent in the first quarter (April-June) compared to the previous fiscal year (2019).
Govt notifies draft rules for hiking FDI to 74 % in insurance sector
According to the draft rules, in an Indian insurance company having foreign investment exceeding 49 per cent not less than fifty per cent. of the net profit for the financial year have to be retained in general reserve, if the insurer’s solvency margin is less than 1.2 times the control level of solvency for a financial year for which dividend is paid on equity shares.
Not less than fifty per cent. of directors of such insurers will be independent directors, unless the chairperson of its board is an independent director, in which case at least one-third of its board shall comprise of independent directors.
Govt may hike pension sector FDI limit to 74%; Bill likely in next session
The powers, functions and duties of the NPS Trust, which are currently laid down under the PFRDA (National Pension System Trust) Regulations 2015, may come under a charitable trust or the Companies Act, they said.
The intent behind this is to keep NPS Trust separate from the pension regulator and managed competent board of 15 members. Out of this, the majority of members are likely to be from the government as they, including states, are the biggest contributor to the corpus.
Desist from exploiting COVID-19 situation: HC to IMA members
”In the time of the current crisis faced by the country following the second wave of COVID-19, their (associations’) members should desist from exploiting the situation by overcharging the affected persons,” the court said.
How can we vaccinate the world? Five challenges facing the UN-backed COVAX programme
The aim of the UN-backed COVAX scheme is to get two billion vaccine doses into the arms of around a quarter of the population of poorer countries by the end of 2021. What are the main challenges that need to be overcome, if this historic global effort is to be achieved?