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AM Best maintains stable outlook on global cyber insurance segment
The AI-driven proliferation of cyber-attacks also can increase the scale and complexity of attacks. Additionally, the ongoing challenge of ransomware, business email compromise and funds transfer fraud continues to escalate Rating agency AM Best said it is maintaining...
China’s blistering heat leaves workers exposed as gig economy booms
Almost half of China’s platform workers don’t have any social insurance coverage, and fewer than a third of the total working population have insurance for work-related injuries, research shows. On a scorching morning in Beijing, Hao and a dozen other food delivery...
China economy to top $19.5 trillion this year, says state planner
Zheng Shanjie, chair of the National Development and Reform Commission highlighted progress made under the 2021–2025 five-year plan, which focuses on key priorities such as economic development, technological innovation, green transformation, and improvements in...
Credit fund’s collapse leads to $1 billion lawsuit against EY
In a claim filed with Ontario’s Superior Court last month, PricewaterhouseCoopers alleged that EY issued unqualified opinions on Bridging’s books from 2014 to 2020 despite red flags, including inflated asset values and hidden defaults. Bridging Finance Inc.’s receiver...
Go Digit General Insurance gets Bombay HC relief on GST demand
After ICICI Lombard General Insurance, the Bombay High Court has set aside a Rs 170.29 crore GST demand against Prem Watsa invested Go Digit General Insurance and ordered the tax department to reconsider the case. An assessment was raised by the Chennai South GST...
Movement of fuel control switches may have caused Air India plane crash, says a Report
Moving a fuel control switch from "RUN to CUTOFF" in flight would cause the fuel supply to stop flowing to the associated engine. This may result in its immediate shutdown and the loss of any thrust, according to Air Current. That would also stop the two electrical...
Seventeen river gauge stations across India currently above warning level CWC
According to the latest flood bulletin issued on Wednesday, there are no stations currently in an “extreme flood situation”, where the previous highest flood level (HFL) is equalled or exceeded New Delhi: Seventeen river gauge stations across India are currently above...
SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
The overall net assets under management (AUM) of the mutual fund industry rose to an all-time high of Rs 74.41 lakh crore as against Rs 72.20 lakh crore in May and Rs 69.99 lakh crore in April, according to the AMFI data. New Delhi: Mutual fund systemic investment...
Trump’s Tariff Shock: Global economic & insurance premium growth to slow down, says Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist, said: "While insurers' profitability outlook is still benefiting from rising investment income, we expect tariffs to slow global GDP growth, and consequently weigh on insurance demand. In the long term, US tariff...
Renewable & Clean Energy Technologies: Set to grow exponentially to meet rising global demand
Countries such as China, India, Japan, South Korea and in ASEAN are accelerating the deployment of solar, wind, hydro and emerging technologies, including hybrid installations that integrate batter energy storage systems (BESS) and floating solar photovoltaics (FPV)...
Trade unions go on daylong strike, services largely unaffected
The unions' demands include doing away with the four labour codes, contractualisation, privatisation of PSUs, increasing minimum wages to Rs 26,000 per month, as well as the demands of farmer organisations for minimum support price for crops based on Swaminathan...
Maharashtra to come up with separate law for gig workers
Maharashtra Labour Minister Akash Fundkar on Tuesday said 'gig workers' or those who work for online 'platforms' or companies such as Zomato need social security, and the state government will come up with a law for them. Speaking in the legislative council, Fundkar...
Impostor uses AI to impersonate Rubio, contact foreign and US officials
Marco Rubio US ,Secretary of State The misuse of AI to deceive people is likely to grow as the technology improves and becomes more widely available, and the FBI warned this past spring about “malicious actors” impersonating senior U.S. government officials in a text...
IndiaFirst Life’s corporate agency partnership with Northern Arc Capital
IndiaFirst Life Insurance Company (IndiaFirst Life) has announced a strategic corporate agency partnership with Northern Arc Capital Ltd. (Northern Arc), a leading diversified financial services platform. Under this agreement, Northern Arc will distribute IndiaFirst...
Houthi militants continued to pound a commercial ship in the Red Sea
“These incidents highlight the Houthis’ disregard for human life, as they continue to exploit seafarers as pawns in their strategic conflicts,” said Jakob Larsen, chief safety and security officer at BIMCO, the world’s largest direct-membership trade group for the...
Maharashtra govt yet to pay Rs 1,015-crore premium to insurance companies: Minister
Speaking in the legislative council, Agriculture Minister Manikrao Kokate said the state government will pay its instalment to insurance companies (on behalf of farmers) within eight days. He assured all eligible farmers will get money for crop losses within 15 days...
Trade unions, farmer bodies to go on general strike on Wed; may disrupt banking, other services
A forum of 10 trade unions has given a 17-point charter of demand. It includes withdrawal of fixed-term employment and scrapping of Agnipath scheme, 8-hour workday, restoration of non-contributory Old Pension Scheme and a minimum monthly penion of Rs 9,000 for the...
Indian state Kerala sues Swiss-based Mediterranean Shipping Company, seeks $1.1 billion in compensation over oil spill
On May 25, Liberia-flagged MSC ELSA3 ship travelling from Vizhinjam on India's southern tip to Kochi had capsized. The incident had resulted in leaking fuel and releasing cargo, some of which contained hazardous material. NEW DELHI: India's southern state of Kerala...