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Saudi shuts key oil pipeline as Houthis control Red Sea coast
The 1,200-kilometre (745-mile) pipeline running across the Arabian Peninsula had helped Saudi Arabia to bypass a shipping logjam in the Strait of Hormuz, where tanker traffic has slowed to a trickle due to the war between the US and Iran. Saudi Arabia has shut down...
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Amazon Pay plans to expand insurance offerings in broader financial services push in India
Vikas Bansal, CEO, Amazon Pay India "Health is our next frontier," Vikas Bansal, CEO ,Amazon Pay India said, adding that health insurance was an important area for expansion as medical care costs have risen and a relatively small proportion of Indians have personal...
BRICS finance chiefs urge reform of global development financial institutions
"We continue to have serious concerns with the unilateral imposition of trade and finance-related actions, including the raising of tariffs and non-tariff measures, which distort trade and are inconsistent with World Trade Organisation rules," the finance chiefs'...
AI ‘Arms Race’ still poses global stability risk, BIS chief says
Pablo Hernandez de Cos, general manager, the Bank for International Settlements The dynamics of the current situation pose particular risks, he added, noting that AI investment is concentrating among only a few players, and capital spending outpaces cashflow at such...
Sivasankar gets additional charge as NIA CMD
S. Sivasankar, Executive Director,New India Assurance The FSIB has aleady selected Lavanya R. Mundayur, CMD, Agriculture Insurance Company, as the next CMD of NIA and the necessary order is under process with the government. Mumbai: The Ministry of Finance has given...
Govt amends E-Commerce Rules to strengthen consumer protection
The Consumer Protection (E-Commerce) Rules, 2020, notified under the Consumer Protection Act, 2019, provide the framework for safeguarding consumers against unfair trade practices in the e-commerce sector. The amended Rules 2026 further strengthen this framework in...
Banking services impacted as unions go on nationwide strike to press for 5-day workweek
The strike call given by the UFBU, an umbrella body of seven unions representing 90 per cent of officer and employee strength, did not impact the functioning of private sector banks. NEW DELHI: Banking services, especially at public sector banks across the country,...
NSE IPO Price Band Set: Rs 1,700-1,785; Opens Sep 17
The IPO will be entirely an offer for sale (OFS) of up to 12.64 crore equity shares by existing shareholders including some state owned insurers , compared with 14.9 crore shares planned earlier. The reduction in the OFS size has brought down the overall issue size...
FY26 Performance: Indian general insurance underwriting losses surge 54% to Rs 46,632 crore,profit plunges 92% to Rs 953 crore
The underwriting blowout has virtually wiped out industry profitability. Aggregate net profit plunged 92% year-on-year to just Rs 953 crore in FY26, while the industry’s average combined ratio deteriorated sharply from 112.61% in FY25 to 117.83%, underscoring the...
Houthis advance along Yemeni coast, threaten Saudi oil exports in the Red Sea
Saudi Arabia, the world's largest oil exporter, has relied on the Red Sea route since the Iran conflict effectively closed Hormuz, through which a fifth of global oil used to flow. CAIRO/WASHINGTON/DUBAI: Iran-aligned Houthis seized control of Yemen's port city of...
UK airlines say they’re left on the hook for ATC outage cost
The financial fallout from the fault at the National Air Traffic Services “will run into tens of millions of pounds, falling entirely on airlines,” Tim Alderslade, chief executive officer for industry group Airlines UK, wrote Wednesday in a letter to UK Transport...
From digital India to intelligent India: Jyotiraditya Scindia outlines vision for trusted digital finance
Union Minister for Communications Jyotiraditya Scindia cited the Financial Fraud Risk Indicator (FFRI), mandated by the Reserve Bank of India, as part of efforts to identify suspicious transactions and strengthen coordination across the banking ecosystem.The system...
RBI Governor advises fintech firms against expanding business by exploiting regulatory gaps
Sanjay Malhotra,Governor, Reserve Bank of India Reserve Bank of India Governor Sanjay Malhotra cautioned companies against adopting a strategy of scaling first and seeking regulatory forgiveness later, saying that firms attempting to outrun regulations could...
NPS Swasthya likely to launch within 30 days, final guidelines due in days: PFRDA chief
Sivasubramanian Ramann, Chairman,PFRDA NPS Swasthya is a health-focused pension product under the National Pension System that allows subscribers to set aside part of their retirement corpus for medical expenses. PFRDA introduced it initially as a proof of concept...
SEBI preparing markets for quantum computing risks, post-quantum cryptography: Tuhin Kanta Pandey
Pandey said sufficiently advanced quantum computing could pose a risk to the cryptographic systems currently used to secure digital information. Mumbai: The Securities and Exchange Board of India (SEBI) is preparing the securities market for cybersecurity risks that...
BRICS Climate Agenda: Focus on Global South as India pushes for sustainable future
While energy transition focuses on reducing future emissions, climate adaptation is becoming increasingly important for countries already dealing with climate-related risks. As India prepares to host the 18th BRICS Summit, climate action is emerging as an important...
Equity MF inflows hit 4-Month high in August: AMFI Data
The overall mutual fund industry saw a decline in net inflow to Rs 41,353 crore in August compared to a staggering Rs 2.36 lakh crore in July. This was primarily driven by debt-oriented schemes, which experienced an outflow of Rs 8,127 crore as compared to an inflow...