The report highlights that insured losses from primary perils...
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India updates biodiversity action plan, to conserve 30pc areas by 2030
Reducing threats includes eight targets focused on major...
Muhurat trading signifies positive investor sentiment for Indian markets
Despite the recent fall in the markets, the optimism during the...
Businesses cheer, unions fear contentious Indian labour reforms
Under the Industrial Relations Code, one of the three new laws, companies employing up to 300 workers will not require government permission to lay off workers or close plants – an increase from the previous cap of 100 and a major demand from industry over the years.
The code also puts restrictions on the recognition of trade unions – making it mandatory for them to represent at least 10% of workers in a given sector – and prohibit them from striking without prior notice and during conciliation proceedings.
U.N. aviation agency ICAO advises Pakistan to suspend issuance of new pilot licenses
“Pakistan should improve and strengthen its licensing system to ensure that it takes into account all necessary processes and procedures and prevents inconsistencies and malpractices before new licenses are issued and privileges of suspended licenses are re-established,” said ICAO, in a previously unreported letter to the Pakistan Civil Aviation Authority (PCAA) last week.
Steady rise in heavy rainfall events during 3 last years: Harsh Vardhan
Earth Sciences Minister Harsh Vardhan said studies show that the frequency of severe cyclones in the Arabian Sea has increased in recent years.
The data shows that there is a steady increase in the number of heavy rainfall events during the last three years, Vardhan said.
The frequency of cyclones too has seen a rise, he noted.
Global climate goals ‘virtually impossible’ without carbon capture – IEA
Up to $160 billion needs to be invested in the technology by 2030, a ten-fold increase from the previous decade, it added.
“Without it, our energy and climate goals will become virtually impossible to reach,” the IEA head Fatih Birol said in a statement.
Mumbai suburbs get over 280 mm rain in 24 hours: IMD
Heavy showers overnight and early Wednesday morning caused waterlogging at many places in the metropolis, disrupting rail and road traffic.
ni-msme and IRM India sign MoU to strengthen risk-readiness of MSME sector
The programme will jointly develop policy roadmap to secure Indian MSME sector against future risks
Hersh Shah, CEO, India Affiliate of Institute of Risk Management, UK, said, “In the coming months, we aim to develop a blueprint that will help India’s 6.33 crore MSMEs apply globally-recognised enterprise risk management frameworks and practices, to navigate successfully through the current crisis, as well as safeguard themselves against future uncertain events beyond just financial risks.
1/3rd of UK’s medium-sized businesses likely to purchase cyber insurance since COVID-19 outbreak:GlobalData
“Fraudsters have capitalized on employees working from home – with phishing scams, in particular, on the rise – preying on fears surrounding the pandemic such as using COVID-19-based hooks in phishing emails. Employees who are out of the office and away from colleagues are more at risk as they are less able to check the validity.”
Top shipping insurance group will not cover ships for Russia, Turkey pipelines projects
U.S. President Donald Trump’s administration has sought to curb the Kremlin’s economic leverage over Europe and Turkey and has warned investors in the two natural gas pipelines could face sanctions.
The International Group of P&I Clubs represents the world’s top 13 ship insurers and covers nearly 90% of the world’s ocean-going tonnage. The notice carried by its members said that all clubs had issued similarly worded circulars regarding Nord Stream 2 and TurkStream.
Led by Russia’s Gazprom, the $11 billion Nord Stream 2 pipeline project to double the capacity of the existing Nord Stream 1 link is more than 90% complete and scheduled to begin operating next year.
IMF official warns coronavirus will weigh on some economies for years
The Fund has provided some $90 billion in total financing to 79 countries, including 20 in Latin America, since the start of the health crisis, an IMF spokeswoman said.
It is continuing to work with member countries on how to contain the pandemic and mitigate its economic impact, First Deputy Managing Director Geoffrey Okamoto told an online event hosted by the Center for Strategic and International Studies.
Okamoto told that Fund officials were in talks with the Group of 20 major economies about extending a temporary halt in official bilateral debt service payments by low-income countries under the Debt Service Suspension Initiative (DSSI), and how to kickstart private sector participation.
ONGC says fire at Hazira gas processing plant under control
“There is no casualty or injury to any person,” ONGC said on its Twitter account.
Surat Collector and District Magistrate Dhaval Patel, a senior city official, told Reuters the fire was caused by a rupture in a pipeline at the gas terminal. ONGC’s plant is in Surat, a city in Gujarat.