The Investor-State Dispute Settlement (ISDS) mechanism is aimed at...
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ESG Review-Course-correction underway among financial firms
The upshot is a broad-based retreat from the environmental and...
Sebi categorises entities on size risk level basis under cybersecurity cyber resilience framework
The Capital market regulator said that entities are grouped into...
Wall Street WhatsApp, US texting fines by SEC exceed $2.5 billion in
As part of the settlements, the companies admitted that their employees had used platforms like iMessage, WhatsApp and Signal to discuss business. The companies didn’t maintain sufficient records, according to the SEC. The CFTC said it found similar violations. Wells...
Bermuda considers introducing corporate income tax
The Bermudan government said in a statement the proposal would end the island nation’s long-standing 0% corporate income tax and would apply to Bermudan units of multinational corporations with 750 million euros ($820 million) or more in annual revenue. The proposal,...
Govt doubles down on safeguarding Indians from rising cyber crimes: MoS IT
Rajeev Chandrasekhar,Minister of State for Electronics and IT “On being notified by the customer, the bank shall credit (shadow reversal) the amount involved in the unauthorised electronic transaction to the customer’s account within 10 working days from the date of...
ICICI Lombard Gen gets Rs 273 cr GST demand notice
The company has already deposited an amount of Rs 104 crore as GST under protest, without accepting any liability in this regard and would be filing its response against the notice within the prescribed timelines New Delhi: ICICI Lombard General Insurance has become...
Show cause notices issued to 143 pharma firms after inspections
Union Health Minister Mansukh Mandaviya said that the Directorate General of Foreign Trade, Department of Commerce, Ministry of Commerce and Industry issued a notification on May 22 for amendment in export policy of cough syrups, making it compulsory for cough syrup...
Britain to create new regime to deal with insurance failures
In Britain, insurance company collapses currently come under modified UK company insolvency arrangements, which the finance ministry said may be less effective for an industry with 2.7 trillion pounds ($3.45 trillion) in assets London: Britain said on Wednesday it...
Digital Personal Data Protection Bill, 2023 passed in Lok Sabha
"Villages and rural areas are getting connected with digital journey. The Bill has been introduced to give rights, provide security and privacy to the people. This Bill has been introduced after having it discussed in a series of Parliamentary committee meetings," he...
Reliance bets big on financial services, seeks shareholder nod to appoint Ambani as head for another 5 yrs at nil salary
Mukesh Ambani, chairman, Reliance Industries “Jio Financial Services aims to provide simple, affordable and innovative digital-first solutions,” Mukesh Ambani said Jio Financial Services also has plans set up two insurance companies to foray into life and non-life...
Japan casualty insurers sink on concerns over suspected price fixing
The allegations first came to light in June, when the insurers were said to have tried to set premiums for railway operator Tokyu Corp. The Financial Services Agency ordered them to submit a report on the matter, amid questions over whether the suspected collusion was...
ICICI Bank receives RBI nod to raise its stake in ICICI Lombard General Insurance by another 4%
The bank currently holds a 48.02 per cent stake in ICICI Lombard General Insurance Company and would acquire at least a 2.5 per cent stake out of the 4 per cent to make the insurer its subsidiary before September 9, 2024 Mumbai: Banking regulator Reserve Bank of...