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Fed lowers rates but sees slower pace of further cuts, firmer inflation
U.S. central bankers now project they will make just two quarter-percentage-point rate reductions by the end of 2025 WASHINGTON: The U.S. Federal Reserve cut interest rates on Wednesday and signaled it will slow the pace at which borrowing costs fall any further,...
Govt plans to make agri residue burning punishable under solid waste management rules
Farmers with less than two acres of land now have to pay environmental compensation of Rs 5,000, up from Rs 2,500. And those with land between two and five acres are fined Rs 10,000 instead of Rs 5,000 New Delhi: The government plans to make open burning of...
Reliance Nippon Life starts negotiation with IndusInd Bank on bancassurance tie up
"Bancassurance was a missing link in our structure and we have started exploring the possibility with IndusInd Bank and we are already in dialogue to strike a win-win deal for all stakeholders," Reliance Nippon Life Insurance CEO Ashish Vohra Mumbai: Reliance Nippon...
US Cyber market-Extortion activity likely reached an all-time high in 2023, says Tokio Marine HCC
In 2024, premium rate change in the US cyber insurance market has fallen to below zero, marking the onset of a soft market. While premium growth stagnated, so did loss ratios, with a 3-point reduction in cyber market loss ratio to 41.6%. Houston, TX: Annual 2024 US...
13 dead, 101 rescued after Navy speed boat rams into ferry off Mumbai coast
The Neelkamal ferry, with 80 persons and five crew members on board, was on way to Elephanta Islands, a popular tourist destination near Mumbai, when the speed boat circled it before crashing into it, a viral video of the accident shows Mumbai: Two passengers died and...
Hemant Nagpal to head Gallagher Re’s APAC Analytics, Rohan Bhappu to join Howden Asia
Gallagher Re has appointed Hemant Nagpal, an insider, as its head of Analytics, Asia Pacific, with a focus on driving our analytics strategy for the region. Darren Murch will become deputy head of Analytics, Asia Pacific, working closely with Hemant to support the...
Meta Hit with 251M Euro Fine for Facebook Data Breach
Ireland’s Data Protection Commission issued the penalties after wrapping up its inquiry into the breach, when hackers gained access to user accounts by exploiting bugs in the platform’s code that allowed them to steal digital keys, known as “access tokens.” LONDON:...
AIIMS, CSIR to collaborate for research in healthcare, emerging technologies
“This partnership will pave the way for significant breakthroughs in research, contributing to patient care and scientific progress in the country,” said Dr. Vinay Nandicoori, Director of CSIR-CCMB New Delhi: All India Institute of Medical Sciences (AIIMS), New Delhi,...
Pitiable: SC on pension of retired high court judges
The petitioner, who was elevated as a judge of the Allahabad High Court after serving as a judicial officer in the district court for 13 years, had claimed that the authorities had refused to consider his judicial service while computing the pension. New Delhi: The...
1,394 batches of drugs recalled in 2023-24 for failing quality tests: Minister
The CDSCO and the Ministry of Health and Family Welfare have taken several measures to ensure that the drugs produced in the country meet the required safety and efficacy standards The number of batches of drugs recalled after failing quality tests rose from 950 in...
ICICI Pru Life Insurance launches women specific critical illnesses cover
ICICI Prudential Life Insurance has launched ‘ICICI Pru Wish’, a first-of-its-kind health product, in the life insurance industry, catering to women specific critical illnesses and surgeries. Developed in collaboration with Reinsurance Group of America (RGA), it...
8.8 crore women screened for cervical cancer under national programme: Govt
J P Nadda,Union Health Minister Over 14 crore were screened for breast cancer and more than 26 crore for oral cancer. Among them, nearly 56,000 breast cancer cases and 1.56 lakh oral cancer cases were detected.Besides, 32.52 crore people were screened for hypertension...
Sensex tanks 1,064 points, Investors lose Rs 4.92 Lakh Cr
"Investor sentiment remained cautious ahead of the US Federal Reserve's monetary policy meeting, scheduled for Wednesday. While markets have priced in a 25 basis points rate cut, much of the focus is on Fed Chair Jerome Powell's commentary regarding future rate...
Centre sanctions Rs 1,480 crore to Uttarakhand for disaster management
Earlier, a high-level committee, headed by Union Home Minister Amit Shah, had approved Rs 1,000 crore for various disaster mitigation and capacity-building projects in 15 states. Dehradun: The Centre has sanctioned Rs 1,480 crore to Uttarakhand for disaster...
Security vulnerabilities hinder AI adoption in India, reveals Deloitte report
"…about 92 per cent of Indian executives identify security vulnerabilities, including hacking and cyber threats, as a primary concern in AI adoption, while 91 per cent express significant concern about the privacy risks related to sensitive data in AI usage New Delhi:...
Allianz scraps proposed acquisition of Singapore’s Income Insurance, source says
Singapore's prime minister said in October that the city-state would block Allianz's bid The move would have lifted Allianz to fourth largest composite insurer in Asia, from ninth, but sparked critique in Singapore because of concerns that it would detract from a...
Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision
Sanjay Malhotra,Governor,Reserve Bank of India Malhotra, who faces a slew of challenges, including the unsettling of the inflation-growth balance and the continuous pressure on the rupee, said, “Continuous improvements and kaizens (improvement)” are essential for any...
Lockton unveils new global Parametric Insurance Practice
The parametric insurance market is projected to reach $39.3 billion by 2032, according to Global Market Insights, underscoring the demand for alternative solutions to cover gaps in conventional commercial property insurance KANSAS CITY: Lockton, the world's largest...