This year, the luxury car industry in India will surpass 2018...
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Rebounding Economy: Global money is chasing Indian stocks again as bull run extends
India has increasingly been touted as the next engine of global...
Create awareness about rare diseases in society, CJI Chandrachud
DY Chandrachud,Chief Justice of India The CJI also emphasised how...
More S.African insurers yield to customer demands to pay COVID BI claims
The FSCA and the Prudential Authority, which oversees the strength of the financial-services industry, last week struck a deal with insurers to consider once-off payments to help keep customers afloat, while courts decide whether insurers are correctly interpreting the terms of contracts.
Toyko,Sydney aim to lure edgy Hong Kong financial firms, but Singapore a top draw
Institutions have not made any major moves from Hong Kong as yet, but they are being circumspect even about discussing contingency plans as the topic is sensitive and many hope to expand in mainland China.
Busan in South Korea is offering tax breaks and rent free offices to financial firms, while Taiwan’s top regulator told Reuters he hoped the island’s rule of law and democratic values would attract business.
The political upheaval in Hong Kong has created an opportunity for Australia and Sydney to become a stronger regional financial centre,” Senator Andrew Bragg wrote to Australia’s Treasurer this month, proposing policy changes.
“Tokyo will, frankly, struggle to steal significant market share from, let alone replace, Hong Kong,” said Steven Tran, a partner at law firm Mayer Brown in Hong Kong, who was previously based in Tokyo for four years.
Chile’s Congress passes pensions bill,president agrees to sign it
Chile’s lower chamber erupted in cheers and clapping after the bill was passed on Thursday, with some chanting “no more AFP” – a reference to the long-running campaign to tear up Chile’s much-mimicked defined contribution Pension Funds Administrators (AFP) system that was introduced during the Augusto Pinochet dictatorship.
India plans to reduce number of state-owned banks to just five: sources
The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India,Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said.
Govt shelves merger plans among UII,OIC and NIC,to infuse Rs10,000 cr of fresh capital into 3 cos
The Cabinet also approved increase in authorised share capital of NIC to Rs.7,500 crore and that of UIIC and OlC to Rs 5,000 crore respectively to give effect to the capital infusion.
The capital infusion of Rs.3,475 crore will be allocated to three PSU general insurers as the first tranche in the current financial year and the. balance amount will be released in one or more tranches.
Govt working on one-stop platform for all official data,says Statistics Minister
The theme for Statistics Day, 2020 covers (Sustainable Development Goal) – SDG 3 (Ensure healthy lives and promote well-being for all at all ages) and SDG 5 (Achieve Gender equality and empower all women and girls).
Can’t expect poor patients to give proof for free treatment: Bombay HC
The court on Friday was hearing a plea filed by seven residents of a slum rehabilitation building in Bandra, who had been charged Rs 12.5 lakh by K J Somaiya Hospital for COVID-19 treatment between April 11 and April 28.
The bench of Justices Ramesh Dhanuka and Madhav Jamdar directed the hospital to deposit Rs 10 lakh in the court.
The petitioners had borrowed money and managed to pay Rs 10 lakh out of Rs 12.5 lakh that the hospital had demanded, after threatening to halt their discharge if they failed to clear the bill, counsel Vivek Shukla informed the court.
International passenger flights remain suspended till July 15: Government
However, the restriction will not be applicable to cargo operations and flights specially approved by the DGCA.
Further, international scheduled flights may be allowed by competent authority on selected routes on case to case basis.
AIA receives nod for China’s first wholly foreign owned life insurance company
China removed foreign shareholding restrictions on life insurers in January to further open up the financial market
AIA Company Limited has received approval from the China Banking and Insurance Regulatory Commission to convert its Shanghai Branch into a wholly-owned subsidiary of AIA Co. This new subsidiary will be incorporated in Shanghai and is the first wholly foreign owned life insurance company approved for incorporation in Mainland China,said AIA .
AIA will now begin the application process for separate regulatory approvals to establish branches of the newly incorporated subsidiary in additional territories in Mainland China.
Non-payment of salaries to medics a criminal offence: Govt to inform states
A bench comprising Justices Ashok Bhushan, Sanjay Kishan Kaul and M.R. Shah asked the Centre to issue necessary directions to states and Union Territories, and sought a compliance report in four weeks.
The top court noted that non-adherence to the Centre’s direction by states will be treated as an offence under the Disaster Management Act and sections of the Indian Penal Code.