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South Korea to change airport design after deadly Jeju air crash
Runway end safety areas at nine airports will be lengthened to 240...
Indian economy to grow 7% in FY25, robust expansion to drive insurance premium growth, says Moody’s
``India's private sector insurers continue to reinforce their...
U.S. lawmakers seek $1 bln to fund FTC privacy probes
The proposal, which Democrats plan to include in a $3.5 trillion spending measure, would fund a new bureau over 10 years to address “unfair or deceptive acts or practices relating to privacy, data security, identity theft, data abuses, and related matters,” according to a summary released by the House Energy and Commerce Committee.
The committee will meet on Monday to take up the wide-ranging spending proposal that includes $30 billion to remove lead pipes and $13.5 billion for zero emissions vehicle infrastructure buildout.
U.S. FDA to ask for more time before deciding on Juul e-cigarettes -WSJ
The agency said last month it received applications from over 500 companies covering more than 6.5 million tobacco products. E-cigarettes have operated in a regulatory gray area for years. The products, which vaporize a nicotine-laced liquid, have been available in the United States since at least 2007, but the FDA did not formally get jurisdiction over the industry until May 2016.
IRDA revamps trade credit insurance norms, SMEs and project finance to benefit
Some of new kind of covers that will now available in India are:
“Project Cover”- insurance of receivables, against non-payment by the principal or buyer, provided to a contractor engaged in but not limited to long term infrastructure, civil and industrial projects and services. The project period should be more than six months.
“Protracted Default”- failure by a buyer to pay the contractual debt within a predefined period calculated from the due date of the debt.
“Reverse Factoring arrangement” where any arrangement in whatever name or form, between a borrower and a financer, wherein a borrower receives or is supposed to receive finance, either directly or indirectly, for borrower’s purchase of trade receivables, goods or services
HDFC Life seeks shareholders approval to share issue to Exide Industries
Last Friday, HDFC Life announced the deal to acquire 100 per cent stake, representing 185 crore shares in Exide Life by way of cash and preference issue of shares to Exide Industries.
LIC deploys IDBI Intech’s Anti Money Laundering solution
IDBI Intech has made steady investments in the latest industry solutions for the BFSI sector, with cutting-edge technology, customer satisfaction and market demands as top priorities. The next generation technologies currently being leveraged include Blockchain, Cybersecurity, Artificial Intelligence and Machine Learning.
Cos can incorporate rewards, incentives to achieve ESG goals
According to Willis Towers Watson’s Global Executive Compensation Trends, ESG has become a critical business consideration, impacting companies’ cost of, and access to, capital. ESG goals and outcomes directly impact the company’s reputation with the public and employees, and often play a role in attracting and retaining a new generation of talent.
Companies with strong ESG practices have been found to deliver more sustainable returns, including higher levels of value creation and risk mitigation.
Sebi bans 85 entities from capital mkts for fraudulent trading
The investigation was conducted to ascertain whether there was any violation of the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices ) Regulations by certain entities while trading.
In its probe, Sebi found that pursuant to allotment of shares under the scheme of amalgamation, Sunrise Asian and its then directors had devised an arrangement whereby 83 connected entities had manipulated the price of the scrip in four patches of trading during the investigation period, thereby violating PFUTP norms.
FSSAI asks e-tailers to delist non-dairy products claiming as dairy items
”Since a lot of such products are sold through e-commerce Food Business Operators (FBOs), FSSAI has instructed all e-commerce platforms to delist such products, which are reported to be in contravention to the regulatory provisions related to the application of dairy ‘terms’ from their online platforms, immediately,” it said.
The FSSAI has further directed that no such defaulting products listed on the online platforms are allowed for sale in the future as well.
FSDC asks regulators to keep constant vigil on financial sector
It also discussed issues relating to management of stressed assets, strengthening institutional mechanism for financial stability analysis, framework for resolution of financial institutions and issues related to IBC, banks’ exposure to various sectors and government, data sharing mechanisms of government authorities, internationalisation of Indian rupee and pension sector related issues.
German companies not allowed to check on employees’ vaccine status
But Germany has strict data privacy laws because of its history of Nazi and Communist state surveillance of citizens, meaning that companies have no right to find out about health issues relating to their staff.
German businesses have been pushing to be able to ask staff about vaccination and the government is trying to get more people to get the shots as infections rise again. Almost 61% of the population has had both shots and 65% at least one.