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Here is a masonry blog layout with no sidebarOct services activity at 54.1, grows for first time in 8 months: PMI
“It’s encouraging to see the Indian service sector joining its manufacturing counterpart and posting a recovery in economic conditions from the steep deteriorations caused by the Covid-19 pandemic earlier in the year,” Pollyanna De Lima, economics associate director at IHS Markit, said in a release.
CV volumes to contract 25-28% in FY21, outlook remains negative: Icra
The outlook for the commercial vehicles (CV) sector remains ‘negative’ on the back of continuing challenges such as over-capacity, subdued freight availability, financing constraints, among others, all of which have compounded due to the pandemic, Icra said in a release.
In the previous fiscal, CV domestic volumes stood at 7,17,688 units as against an all-time high of 10,07,311 vehicles in 2018-19.
Unicorn India Ventures invests in AI driven Insuretech startup Fedo
Fedo, founded in 2017 by Prasanth Madavana and Arun Mallavarapu, is spearheading the next generation of Artificial Intelligence powered health insurance insights with partners around the globe bringing together a unique understanding of health risks and the required coverage combined with industry knowledge across three continents.
ON Singh quits Universal Sompo General Insurance Company as chairman
Japan property funds feel pinch as Tokyo population drops amid pandemic
But data from the Tokyo metropolitan government shows the city’s population dropped by around 10,700 in October to 13.971 million, its fourth decline in five months.
“We have expected Tokyo’s daytime population to shrink over time but we did not think such a change would take place that quickly,” said Kazufumi Takeuchi, senior analyst at UBS.
China slams the brakes on Ant Group’s $37 billion listing
Ant said that its listing had been suspended by Shanghai following a recent interview regulators held with its founder Jack Ma and top executives. It said it may not meet listing qualifications or disclosure requirements, and also cited recent changes in the fintech regulatory environment.
Shanghai described Ant’s meeting with Chinese financial regulators as a “major event”.
Global marine insurance results indicate a modest recovery but COVID-19 adds uncertainty :IUMI reports
Finmin says no increase in service charges by any public sector bank
UK raises terror threat level to severe after Europe attacks
Pilot Unions, crash families seek revisions to 737 Max training
A group of dozens of family members and friends of the 157 people who died on an Ethiopian Airlines crash on March 10, 2019, go further, seeking additional design changes and publication of a more detailed training outline.
“The FAA’s proposed update to the 737 Max pilot training requirements is inadequate to rectify Boeing’s history of 737 Max-related failures and insufficient to prepare pilots to safely fly the airplane,” the family group said in its comments, also posted on Monday.
India’s COVID-19 caseload crosses 82 lakh-mark, national recovery rate reaches 91.68 %
A total of 75,44,798 people have recuperated from COVID-19 so far, taking the national recovery rate to 91.68 per cent, while the case fatality rate was recorded at 1.49 per cent.
The number of active cases of COVID-19 remained below six lakh for the fourth consecutive day.
There are 5,61,908 active coronavirus cases in the country as on date which comprise 6.83 per cent of the total caseload, the data stated.
These are the Airlines teetering on the brink of Covid ruin
Having a home government with deep -- and open -- pockets is emerging as key in terms of whether an airline will make it through the coronavirus pandemic. Carriers in jurisdictions where there is scant support from up high are most likely to go bust, according...
Singapore’s Dy PM launches Global Asia Insurance Partnership,to incubate new risk financing solutions for emerging risks in Asia
“Through GAIP, we aim to produce actionable research insights, develop policy recommendations, There are many structural protection gaps facing Asia, but pandemic risk and climate risk are two critical areas that demand our immediate and collective attention,.” Heng Swee Keat Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance,Singapore, said adding that GAIP is expected to commence work in January next year.
IKEA opens pilot second-hand store in Swedenaims to reduce more greenhouse gas emissions
IKEA has a target to be circular – which includes using renewable or recycled material only, and helping customers prolong the life of their products – by 2030.It aims to reduce more greenhouse gas emissions than its value chain emits – from the production of raw materials through to customers’ use and disposal – by the same year
Emerging markets suck in $17.9 billion during October – IIF
CCI approves merger of Bharti AXA General Insurance into ICICI Lombard General insurance
The merger of Bharti Axa General Insurance with ICICI Lombard General Insurance, India’s largest non-life company had got formalised in an all-stock deal, valued at €521 million(approximately Rs 4,200 crore).AXA, with 49 per cent of stake and Bharti, with 51 per cent of stake, to combine their non-life operations in India into ICICI Lombard, in exchange of shares
HDFC ERGO implements AI enabled solution to automate motor claims
Parthanil Ghosh, president – Motor Business HDFC ERGO General Insurance said, ” We have implemented the use of AI in one of the most complex process of claim settlement post exhaustive testing and by leveraging the best-in-class technology. At present almost 75% of our physical inspections are assisted through IDEAS tool and have already processed more than 20,000 motor claims with promising accuracy levels. We look to further revolutionize the way claims will be settled in the insurance sector and very soon move towards instant claim settlements for customers, turning their satisfaction into delight.”
India’s October factory growth at decade high as demand bounces back
“Companies were convinced that the resurgence in sales will be sustained in coming months, as indicated by a strong upturn in input buying amid restocking efforts.”
Both output and new orders, which tracks overall demand, grew at their sharpest rates in more than 12 years and foreign demand expanded at its quickest pace since December 2014.
But firms cut staff for the seventh month in a row, a streak not witnessed since the survey began in 2005, signaling a quick recovery in the consumer-driven economy may be a distant possibility.