SIAM Director General Rajesh Menon stated that the auto industry...
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Regulation
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US SEC chair says agency plans to create new rules for crypto tokens
Paul Atkins, the chair of the Securities and Exchange Commission In...
UK’s financial regulator to relax rules for pushing insurance to large companies
The changes aim to better differentiate big corporates from smaller...
Three-quarters of companies globally are not ready for ESG rules: KPMG Report
“Now there will be regulatory and assurance requirements to report accurate information, which raises the bar on controls and processes as well as qualitative statements that will need to be made around the data,” Mike Shannon, Global Head of ESG Assurance at KPMG,...
US urges court to consider Amazon.com asset sales for breaking antitrust law
“The FTC and its state partners say Amazon’s actions allow it to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, stifle innovation, and prevent rivals from fairly competing against Amazon,” the agency said in a statement...
Cough syrup deaths overseas prompt US crackdown on toxic testing
Cough syrups made in India and Indonesia have been linked to deaths of more than 300 children globally. The medicines were found to contain high levels of DEG and EG, leading to acute kidney injury and death. The poisonings have sparked criminal probes, lawsuits and a...
Tax department notifies ‘Angel Tax’ rules for valuing investments in startups
"These changes offer taxpayers a broader range of valuation methods to choose from, including internationally recognized approaches, thereby attracting foreign investments and fostering clarity. Moreover, the notified final rule introduces an additional sub-clause...
OpenAI CEO says possible to get regulation wrong, but should not fear it
Sam Altman, CEO,ChatGPT “Models that are like 10,000 times the power of GPT4, models that are like as smart as human civilization, whatever, those probably deserve some regulation,” The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation...
US energy regulator recommends revising reliability standards for extreme weather
FERC said the report recommends completing cold weather reliability standard revisions from Winter Storm Uri in 2021 – which resulted in the largest controlled blackout in U.S. history – and making U.S. natural gas infrastructure more reliable The Federal Energy...
“Without citing any evidence or basis”: Centre rebuffs Moody’s “baseless” opinions on Aadhar
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable New Delhi:...
Can’t interfere in employment agreement between pilots Akasa Air DGCA to HC
The civil aviation regulator filed its written submissions in response to a plea by the fledgling airline which has said it was in a state of crisis following the sudden and abrupt resignation of 43 pilots, who left the airline without serving the mandatory notice...
India’s economic growth threatened as household savings hit 16-year low
“The household sector is consuming by borrowing more,” said Rupa Rege Nitsure economist with L&T Finance Holdings Ltd. This happens when income level stays stagnant but inflation creeps up. The recovery is not broad-based — while a section splurges on luxury...
Govt considers financial creditor status for insurers issuing surety bond
The general insurance companies are seeking changes in the Indian Contract Act and Insolvency and Bankruptcy Code (IBC) to bring surety bonds at par with bank guarantees when it comes to recourse available to them in case of a default. New Delhi: To make surety bond...