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Technology

Munich Re expands Cyber business in India, expects market size to be $150 million by 2025

Munich Re expands Cyber business in India, expects market size to be $150 million by 2025

“ Cyber risk coverage is a strategic focus of Munich Re and we are committed to supporting our  partners in India to create a long-term sustainable market. India’s economic size and eagerness to adopt new technologies presents a unique opportunity in retail and commercial cyber as more Indians/ Indian enterprises move towards the internet of things and get connected to the internet,’’ said Hitesh Kotak, Chief Executive Officer at Munich Re India Branch, adding that with its innovative solutions, Munich Re is one of the leading providers shaping the global cyber market and responding to the challenges of evolving vulnerabilities.

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EU fines German car makers $1B over emission collusion

EU antitrust chief Margrethe Vestager said that even though the companies had the technology to cut harmful emissions beyond legal limits, they resisted competition and denied consumers the chance to buy less polluting cars.

”Manufacturers deliberately avoided to compete on cleaning better than what was required by EU emission standards. And they did so despite the relevant technology being available,” Vestager said. That made their practice illegal, she said.

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Chinese nationals step down from Paytm board ahead of planned IPO; no change in shareholding

Paytm shareholders include Alibaba’s Ant Group (29.71 per cent), SoftBank Vision Fund (19.63 per cent), SAIF Partners (18.56 per cent) and Vijay Shekhar Sharma (14.67 per cent). AGH Holding, T Rowe Price, Discovery Capital and Berkshire Hathaway hold less than 10 per cent stake each in the company.

The development comes at a time when Paytm is gearing up for public listing.

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