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Majority of aviation insurance professionals rank geopolitical instability as the sector’s biggest threat: IUAI survey
"The findings highlight a continued shift towards risks that are...
Ind AS to boost transparency, governance and capital efficiency in insurance sector: Ajay Seth
Ajay Seth, chairman, IRDAI Seth encouraged insurers to actively...
Protracted closure of Hormuz may lead to a wave of disputes: CFOs
“We expect a lot of financial disputes and a lot of force majeure,” Mercuria Energy Group Ltd. CFO Guillaume Vermersch said at the Financial Times Global Commodities Summit, adding that how the situation plays out out could shape some of the firm’s profit this year....
FM meets heads of banks on AI risks following concerns over Anthropic’s Mythos
The meeting chaired by the Finance Minister deliberated on various risks that AI posed on the financial sector, sources said, adding that banks have been urged to take preemptive measures to secure their systems, data and money of customers. New Delhi:Finance Minister...
AI defining force in risk management, improving operational efficiency, mkt surveillance: SBI Chief
"The next 25 years will not just be about scale, but about intelligent scale. Financial markets are now evolving in the fastest ways possible, becoming more interconnected and complex."CS Setty,chairman, SBI Mumbai:Artificial intelligence will play a central role in...
Trump extends Iran ceasefire indefinitely,Hormuz blockade to continue
US President Donald Trump Trump posted on social media that he would "extend the Ceasefire" until Iran came up with a proposal to end the conflict Washington:President Donald Trump on Tuesday said he was extending a ceasefire with Iran to give more time for...
Iran yet to decide on whether to attend talks as ceasefire deadline ticks down
President Donald Trump said he hoped to reach a "great deal" to end the war, but he did not want to extend the ceasefire, and said the U.S. military was "raring to go" if negotiations were not successful. WASHINGTON/CAIRO/ISLAMABAD:Iran said on Tuesday it had still...
Scam messages offering ships safe transit through Hormuz, security firm warns
MARISKS on Monday issued an alert warning shipowners that unknown actors, claiming to represent Iranian authorities, had sent some shipping companies a message demanding transit fees in cryptocurrencies, Bitcoin or Tether, for “clearance”. “These specific messages are...
Middle East Conflict: Consequences for Asian construction industry
Geopolitical risk is becoming structural rather than episodic. Construction organisations can no longer treat geopolitical disruption as a low probability event managed through generic forcemajeure clauses. Instead, it is increasingly influencing project feasibility,...
Fire doused at HPCL Rajasthan Refinery, Re/insured by Oriental Insurance and Swiss Re
The refinery-cum-petrochemical complex, which was scheduled to begin commercial operations from July 1, after being inaugurated by by Prime Minister Narendra Modi.on Tuesday, has an Advance Loss of Profit (ALOP) cover New Delhi:The newly built Rs 79,450-crore...
Asian regulators stepping up banks’ cybersecurity risks amid Mythos AI Fears
Singapore’s financial regulator is urging banks to plug holes, while South Korea’s government agencies have met to review and discuss how to respond to the risks. In Australia, authorities expect lenders to be vigilant to ensure clients aren’t put at risk by...
Illegal groundwater extraction in Najafgarh: NGT issues notice to Delhi govt, others
The green body was hearing a plea claiming unauthorised extraction by “private tanker mafia” operators in a plot in the Pankaj Garden locality of the area. New Delhi:The National Green Tribunal has sought a response from the Delhi government and others on the alleged...