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IRDAI unveils new rule-making framework
The proposed regulations are being introduced in line with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which mandates public consultation, periodic review of regulations and stakeholder engagement in the regulatory process. Hyderabad:The...
Stranded ships transiting the Strait of Hormuz:Lloyd’s List
In a media briefing, Richard Meade, editor in chief of Lloyd’s List, said for the first time in 110 days, ships owned by major companies are transiting the strait after effectively being marooned there since February London:Major shipowners have begun moving vessels...
Cyber scams rise sharply across Asia: Interpol
The report comes as governments across Asia are grappling with an explosion in online fraud fueled by sprawling scam networks that monitoring groups say increasingly operate across borders and generate tens of billions of dollars a year. Once concentrated in parts of...
Allianz leads race for HSBC Life Singapore
HSBC had shortlistedAllianz, Sumitomo Life Insurance Co. and Daiichi Life Group Inc. as bidders for the Singaporean insurance unit. Other insurers including Sun Life Financial Inc. and Nippon Life Insurance Co. were said to be in the frame for the unit previously....
Emirates adds War Cover amid gulf rebound
The product includes medical coverage for conflict-related incidents, with airline-managed hotel accommodations and support for extended stays, according to the statement. Emirates also will rebook connecting services for affected passengers at no extra cost, even if...
US and Iran presidents sign ceasefire agreement, but Trump says he could still resume attacks
The memorandum includes an immediate end to the war on all fronts, including Lebanon, the full resumption of maritime traffic in the Strait of Hormuz, the lifting of a U.S. blockade of Iranian ports, the waiving of international sanctions on Iran, the unfreezing of...
Telegram moves Delhi HC against govt curbs; SG claims ‘shocking’ activities on platform
The Ministry of Electronics and Information Technology (MeitY), acting on recommendations of the National Testing Agency (NTA), issued a direction under Section 69A of the Information Technology Act, 2000, restricting access to the Telegram platform in India till June...
Govt completes 5% OFS in GIC Re, including 3% green-shoe option: DIPAM Sect
Sharing the outcome of the stake sale on social media platform X, DIPAM Secretary said, "Offer for Sale (OFS) in GIC Re closed with enthusiastic response from the investors. Government of India has divested 5.0% per cent of its stake in GIC Re with full subscription...
NSE files for Rs 30,000-cr IPO; set to become India’s biggest-ever public issue
Life Insurance Corporation of India (LIC), the single largest shareholder in NSE, holding a 10.72 per cent stake, will not offload any shares. GIC Re (1.07 crore shares), The New India Assurance Company (1.05 crore shares), National Insurance Company (0.60 crore...
India-UK trade pact: 5-yr exemption from social security payments to benefit 75,000 Indian professionals
The the Double Contribution Convention (DCC) "exempts Indian workers and employers from making dual social security contributions in the United Kingdom during temporary assignments. The period of exemption has been increased from 3 years to 5 years," New Delhi: Indian...
Nearly one lakh cyber fraud victims benefitted from money restoration mechanism: Amit Shah
“Through coordinated efforts of the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs, state governments, law enforcement agencies, banks and financial institutions, we will further strengthen our cyber security framework while ensuring...
Joshi has been serving as the acting CMD of GIC Re since Oct 1. The post has fallen vacant after N Ramaswamy retired from the post on Sep 30.
Hitesh Joshi appointed as CMD of GIC Re
Hitesh Joshi, CMD, GIC Re Joshi has been serving as the acting CMD of GIC Re since Oct 1.The post has fallen vacant after N Ramaswamy retired from the company since Sep 30. The government on Tuesday has appointed Hitesh Joshi, 57, as the new CMD of GIC Re, the ninth...
India limits cough syrup sales to pharmacies after contamination cases
The government has now removed cough syrups from the exemption list, while allowing pills, tablets and lozenges to remain on it, according to a government notification dated June 15. New Delhi:India has restricted cough syrup sales to licensed pharmacies especially...
Institutional investors rush for GIC Re shares; issue subscribed nearly 4X on day 1
DIPAM Secretary shared the development via X on Tuesday, adding "Offer for Sale in General Insurance Corporation of India received an enthusiastic response from the investors on day one and was oversubscribed 3.72 times. Government has decided to exercise the entire...
Trade Secrets: TCS to take $70 million hit after US Supreme Court rejects appeal
The case stems from a 2019 lawsuit filed in Dallas federal court by DXC's predecessor, Computer Sciences Corporation, which accused TCS of hiring around 2,200 Transamerica, another insurance company, employees and using their inside access to build a rival...
Insutech Turtlemint Fintech Solutions to announce around Rs 900 crore IPO on Tuesday
It is expected to launch its IPO between June 19 and June 23, with the issue size estimated at Rs 2,000 crore, said sources Mumbai Mumbai based insurtech startup Turtlemint Fintech Solutions, connecting insurace advisors, customers and insurance company for offering...
Shipowners eye Hormuz return with cution
News of a long-awaited agreement between the US and Iran and the prospect of ending a double blockade drove Brent oil futures down almost 5%. But those ferrying crude and gas around the world are still questioning what exactly a reopening — which US President Donald...