Under one scenario that’s been discussed by the Chinese government,...
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India likely to become world’s 3rd largest economy by 2030: Swiss Re
India’s insurance market projected to be the G20’s fastest-growing...
Tsunami advisory issued after 6.9-magnitude quake strikes Japan
"The quake's epicentre was at a depth of 30 km in the Hyuganada...
How the EU’s digital health pass scheme would work
The pass, issued by a doctor or health centre, would feature a QR code containing pre-authenticated information that a traveller has been vaccinated against COVID-19 or has received a negative PCR test result.
The QR code, printed out on a piece of paper, would serve as proof of immunity. It would also be possible to scan the code into a smartphone app.
California Governor seeks ban on new fracking by 2024
Fracking — short for hydraulic fracturing, the process of extracting oil and gas embedded in rock deep underground — accounts for a small portion of the state’s oil and gas production each year. But environmental advocates have long sought its banishment because of its harmful effects on the environment and public health.
EU publishes rules to help investors decide what’s ‘green’ and what’s not
The EU’s new rules, known as the “sustainable finance taxonomy”, are a list of economic activities and the rules they must meet to be deemed green.
Starting next year, they will decide which activities can be labelled as a sustainable investment in the EU. The Commission published climate-related criteria for green investments ranging from building renovations to the manufacture of cement, steel and batteries, reflecting draft plans previously reported by Reuters.
Data Protection:RBI bars American Express Banking Corp. and Diners Club International from on-boarding new domestic customers
These entities have been found non-compliant with the directions on “Storage of Payment System Data”.
n terms of RBI circular on Storage of Payment System Data dated April 6, 2018, all Payment System Providers were directed to ensure that within a period of six months the entire data (full end-to-end transaction details / information collected / carried / processed as part of the message / payment instruction) relating to payment systems operated by them is stored in a system only in India.
Britain’s driverless car ambitions hit speed bump with insurers
Insurers are key players in the shift to automated driving, with some investing in a technology they believe will slash accidents and deaths, and save them billions in payouts.
But they are worried drivers might equate today’s lower levels of automation with fully self-driving vehicles, potentially causing more accidents in the short term and permanently damaging public confidence in the technology.
Bank of England sees potential risks from cloud data providers
Regulators globally have been tightening scrutiny of outsourced functions as they worry that core services financial firms provide to customers are vulnerable to outages at third parties.
Britain’s government is keen to promote fintech as an area of growth and hopes that nimbler regulation will enable it to steal a march over the European Union, where British financial firms now have reduced access due to Brexit.
On Monday, finance minister Rishi Sunak asked the BoE to work with the finance ministry on whether the central bank should set up a digital version of sterling to compete with cryptocurrencies, which he dubbed ‘Britcoin’.
Chinese military seen behind Japan Cyber-attacks, NHK Says
The cyber-security firm FireEye Inc., which characterizes Tick as a suspected Chinese espionage group with attacks dating to at least 2009, has seen it target hundreds of Japanese organizations. These include research institutions and government agencies, said John Hultquist, vice president of intelligence analysis at the firm.
`Insurer can’t invest more than 10% of their outstanding debt in a single InvIT/REITs issue’
-The cumulative Investments in Units and Debt Instruments of InvITs and REITs shall not exceed 3% of total fund size of the Insurer at any point of time.
– No investment can be made in Debt instruments of an InvIT/REIT where the sponsor is under the promoter group of the insurer.
Investment in Debt Instruments of InvIT will form part “Infrastructure Investments”.
Oxygen leak kills 22 in Indian hospital as coronavirus infections mount
The incident in the city of Nashik, one of India’s worst-hit areas, happened after the tank of gas leaked, said Rajesh Tope, the health minister of Maharashtra, the richest state, where the city is located.
Governments need to be ‘insurers of last resort’ to protect businesses from pandemic risks: Report
Jad Ariss, Managing Director, The Geneva Association, said: “It is a tragedy that businesses, particularly SMEs, have suffered so much financial loss during the pandemic as a result of the lockdowns, which were beyond their control. The public sector had to step in with multi-trillion dollar emergency relief measures. Governments and insurers must work together on how to close the massive protection gap exposed by COVID-19, with governments as the leading players.”