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CCPA issues notice to Apple over iPhone performance issues
The notice seeks Apple's explanation regarding reported technical...
South Korea to change airport design after deadly Jeju air crash
Runway end safety areas at nine airports will be lengthened to 240...
Don’t want Tom, Dick and Harry to collect money: HC on crowdfunding for treatment of rare diseases
The high court said it was concerned that every ”Tom, Dick, and Harry” was collecting funds via crowdfunding for treatment of the children suffering from rare diseases and asked the state government whether it has any control over such transactions.
Justice P B Suresh Kumar said the court does not want to interdict the crowdfunding process, but it wants the funds to go to the government instead into the account of some private individuals who may or may not give it to those who require the money.
Indian economy lacks fresh investment as banks find lending risky
While banks are dithering on loans on the one hand, companies are pushing back investment plans amid lack of demand on the other.
Corporate willingness for new investments is low, according to the Centre for Monitoring Indian Economy Pvt., with capital expenditure declining. While companies have posted bumper profits mostly on the back of widespread cost cutting, most have used the extra funds generated to pay down bank loans.
Saudis may work longer, pay more to Kingdom’s pension fund: Report
The government — faced with an estimated actuarial gap of 800 billion riyals ($213 billion) at the state-controlled pension fund — is weighing proposals to increase the retirement age, according to three people familiar with the matter, who asked not to be identified to discuss confidential deliberations. It could also require workers to contribute more of their salaries to the General Organization for Social Insurance, or GOSI, which manages both public and private sector pensions, the people said.
Global financial regulators attempt to align rules on climate risks
The Financial Stability Board (FSB), which coordinates financial rules for the G20 group of nations, said its “roadmap” seeks to coordinate approaches to disclosures by companies and plug gaps in the data needed to spot financial stability “vulnerabilities” and develop tools to address them.
The roadmap attempts to align rules still in the planning stage between now and 2023 to avoid more divergences between various measures for the same activity.
HC issues notices to Centre, Maha over PIL claiming Truecaller breached data privacy norms
“The Truecaller app collects data of all users. It shares such data with some of its partners without the consent of users, and dumps the liability on the user,” the petitioner told the court.
“This is a manipulative set up because the user has no choice. The app also registers users for a Unified Payments Interface service without their consent, or without due process,” alleged Shashank Posture who had filed the PIL.
Covid-19: IRDAI penalises Salasar Services Insurance Brokers Rs 8 lakh for misleading its customers on BI claims
The information brochure by Salasar Services Insurance Brokers clearly advised its clients, to lodge the business interruption claim and also stated that insurer prima facie may deny the claim which can be contested later.
This statement may give a hope to the clients that the denial of claim can be successfully contested at a later date. This is a wrong and misleading advice and the broker, being a professional should not issue such a misleading advice to their clients, said the IRDAI..
Stock exchanges, other officials liable to face penalties for tech glitches: Sebi
Stock exchanges, clearing corporation and depositories will have to pay in the range of Rs 1 lakh each working day to Rs 2 crore for flouting Standard Operating Procedure while Managing Director (MD) and Chief Technology Officer (CTO) of the MIIs concerned will have to cough up 10 per cent of their respective annual pay.
To avoid technical glitches, Sebi has suggested that MIIs should have Business Continuity Planning, disaster recovery policies and system audit processes in place.
Amazon, Tata say Indian govt e-commerce rules will hit businesses: Report
New rules limiting flash sales, barring misleading advertisements and mandating a complaints system, among other proposals, could force the likes of Amazon and Flipkart to review their business structures, and may increase costs for domestic rivals including Reliance Industries’ JioMart, BigBasket and Snapdeal.
Cyber laws, rules, and guidance must be workable, risk-based, clear, transparent, and consistently applied across companies and jurisdictions:US Insurers
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Insurance policy and underwriting activities should not be misconstrued as cybersecurity risk assessments, which provide the insured with confidence that their security measures are sufficient to avoid or eliminate ransomware attacks.
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Like a customer’s decision on how to manage cyber risk, insurers must also be able to determine their risk appetite through careful underwriting and appropriate coverage offerings.
NPPA approves price rise of 50 per cent for carbamazepine, ranitidine, ibuprofen
To address the situation arising due to repeated price control, a one-time price increase of 50 per cent from the current ceiling price is being considered in public interest as an exceptional measure as advised by the Standing Committee on Affordable Medicines and Health Products (SCAMHP), NPPA said