Economists have begun downgrading their growth targets for China’s...
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Heavy rains lash Tamil Nadu, ‘Fengal’ continues to moves towards coastline
Departure and arrival schedule of flights were affected to some...
Social media ban for children under 16 becomes law in Australia
The law will make platforms including TikTok, Facebook, Snapchat,...
Sebi eases surveillance steps implemented to curb Covid-induced volatility
The surveillance measures, announced in March, are in force till November 26. They are aimed at ensuring orderly trading and settlement, effective risk management, price discovery and maintenance of market integrity.
Among the measures, the watchdog had increased the margin requirement for non-F&O stocks in cash market and revised Market Wide Position Limit (MWPL) from 95 per cent to 50 per cent of existing levels in a phased manner.
On Wednesday, Sebi said these two measures would be relaxed with effect from close of business on November 26.
India bans 43 more mobile apps as it takes on China
The 43 mostly Chinese origin apps, which also include a few dating apps, threaten the “sovereignty and integrity of India”, the technology ministry said in a statement.
India has previously banned more than 170 apps saying they collect and share users data which could pose a threat to the state.
S&P sceptical of allowing corporates into Indian banking
“The working group’s concerns regarding conflict of interest, concentration of economic power, and financial stability in allowing corporates to own banks are potential risks,” S&P Global Ratings said in a note.
A former RBI governor, Raghuram Rajan, and a former deputy governor, Viral Acharya, also criticised the proposal, calling it a “bad” idea.
Even though India needed more banks it was not wise to allow industrial houses into banking as the history of such inter-connected lending showed it could be disastrous, they said.
Will India’s banking system go from being state-dominated to tycoon-led?
The regulator mustn’t take the public’s trust for granted. The IL&FS debacle shows little institutional capacity to stop mischief outside the balance sheet of a traditional bank.
The report came just as the regulator solemnised the sale to Singapore’s DBS Group Holdings Ltd. of one such lender, the third failure of a major deposit-taking institution in 15 months. Before that shotgun marriage, the country had 22 universal banks (and 10 so-called small finance banks) in the private sector, with a 30% share of deposits, up from 13% two decades ago. Foreign banks’ low 5% share has remained unchanged. Dominant public-sector banks’ market share is down to 65%, from 82% in 2000.
LDF govt puts on hold controversial Kerala Police Act amendment
Opposition parties have slammed the amendment, brought through an ordinance, providing for imprisonment up to five years to those making defamatory social media posts, saying it was against freedom of speech and the press.
Howden acquiers cyber and tech specialist broker Safeonline
“Cyber as a class has been growing strongly for us over recent years and this acquisition supercharges our growth in this important market, In a stroke, it gives us the ability to service retail SME clients and enlarge our U.S. wholesale cyber book. It also means we can improve our service to large global retail accounts and grow further our Financial Lines retail capability.commented Charlie Langdale, managing director, Financial Lines.
Giant wind turbine collapses in northern Sweden; no one hurt
Maria Roske, chief executive of windmill operator WPD, told the local Norran newspaper that there were no construction workers on site when the incident happened.
She added that she believed it was the first time such an incident took place in Sweden.Roske told Norran that Vestas will investigate the collapse because the group built the wind turbine. with Vestas, which is the manufacturer. It”s their power plant, their turbine.”
Airline body IATA develops mobile apps for COVID-era travel
“Our main priority is to get people travelling again safely,” IATA security chief Nick Careen said. “That means giving governments confidence that systematic COVID-19 testing can work as a replacement for quarantine requirements.”
Passenger health and other data are not stored centrally but authenticated with blockchain, leaving consumers in control of what they share, IATA said.
Google faces regulatory scrutiny in Britain over ‘Privacy Sandbox’ advertising data revamp
The complaint follows up on concerns about Google’s new system that the watchdog raised in a July report about online platforms and digital advertising. The report recommended the British government adopt a new regulatory approach to governing digital giants making big money from online ads.
Google said the new technology will increase privacy for users while also supporting publishers.
Meanwhile,Russia has opened a case against U.S. tech giant Google for failing to remove banned content from its search engine, communications watchdog Roskomnadzor said on Monday.
Kerala’s new law imposes 5-year jail term or fine of Rs 10,000 for offensive post
Expressing concern over the rising crime graph, fake propaganda and hate speech on social media since the outbreak of COVID-19, the LDF government had said since cyber attacks are amajor threat to private life, it has been decided to amend the Police Act as the existing legal provisions were inadequate tofight such crimes.