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Shipowner in Baltimore bridge collapse seeks to limit liability to $43.7 mn
The company, Grace Ocean, could face hundreds of millions of dollars in damage claims, legal experts say.On Monday it filed a petition jointly with Synergy Marine, which was operating the Singapore-flagged cargo ship Dali. They claim the collapse of the Francis Scott...
Vistara sees significant flight cancellations to cut operations due to non-availability of pilots
One of the sources said first officers reporting sick have forced the airline to cancel flights as their salaries have been reduced significantly Mumbai: Vistara will temporarily reduce flight operations due to non-availability of pilots as many first officers have...
Canadian school boards sue social media giants for over C$4 bln in damages
The products are “negligently designed for compulsive use, have rewired the way children think, behave and learn,” a joint statement by the boards said. That has caused learning and mental health crises in students, resulting in the schools having to invest more in...
India’s most innovative cities are running out of water
Tech professionals are leaving India’s IT hub of Bengaluru amid an intensifying drought that has gripped the city as it sweats through another torrid pre-monsoon season, the Deccan Herald reported this month. More than half of the wells the city depends on for...
Passenger vehicle sales soar to record high in FY24; dispatches cross 42 lakh mark
“This is the first time that passenger vehicle sales have crossed the 40 lakh sales mark in the country…much of the growth that has happened is in the SUV segment,” Shashank Srivastava,member, executive committee, Maruti Suzuki India New Delhi: Driven by robust demand...
Apr 1 Renewals: Transitioning’ property catastrophe sector heralds buyers’ market, says Aon
George Attard, CEO of Asia Pacific for Aon’s Reinsurance Solutions, said, “The April 1st reinsurance renewals were more predictable and generally favorable to reinsurance buyers. As mid-year renewals get under way for the catastrophe-exposed markets of Florida,...
Finance Ministry refutes misinformation on social media over income tax regime
Under the new tax regime, the tax rates are significantly lower, though the benefit of various exemptions and deductions (other than standard deduction of Rs 50,000 from salary and Rs 15,000 from family pension) is not available, as in the old regime, the Finance...
Extreme heat to scorch India during election period, says IMD
Gujarat, Maharashtra, north Karnataka, Odisha, west Madhya Pradesh and Andhra Pradesh are predicted to experience the worst impact of heat waves in April New Delhi:India is set to experience extreme heat during the April to June period, with the central and western...
Gadkari vows to eliminate petrol, diesel vehicles; tax cut for hybrid cars
Union minister Nitin Gadkari Gadkari did not give any timeline to meet this ambitious target which even proponents of green energy believe is mind bogglingly difficult New Delhi: As part of his ambition to make India a green economy, Union minister Nitin Gadkari wants...
Modi pitches for studying a newer banking structure to fund future needs
Prime Minister Narendra Modi There are some challenges confronting the industry along with this, including artificial intelligence and blockchain, which are changing the face of banking, cyber security amid the increasing reliance on digital banking and innovations...
Apr 1 renewals: Surprisingly, Indian general insurance market turns soft, GIC Re bounces back with a larger capacity
``With a robust solvency ratio of 2.94 , we remain bullish and will grow our top line in this Apr 1 renewals. We have engaged with the market participants, especially the bigger ones. And my team is speaking to the reinsurance people to ensure that we understand what...
Luxury car sales could breach 50K mark for first time ever: Audi India head
Luxury car volumes in India currently account for less than 2 per cent of the overall passenger vehicle sales annually and the sector has been more or less at the same level for the past decade The overall domestic luxury car segment grew by 28 per cent annually last...
LS polls: Over 60 environmental groups demand ban on mega infrastructure projects in Himalayas
Climate activist Sonam Wangchuk said, "While industries exploit the riches of the Himalayas, the local people bear the brunt of disasters. The government uses taxpayers' money for rehabilitation efforts, yet those who reap the benefits are not held accountable" New...
Finance ministry and PSUs can’t make any new appointments till general elections are over, says EC
Effectively, for the PSU insurance industry , such a stand by the Election Commission of India, will stall all the new appointments, including Member(Distribution), IRDAI , two CMDS-New India Assurance and United India Insurance and nine executive directors...
Allianz Partners becomes the first foreign reinsurer to setup operations in GIFT City
With its headquarter in Paris, globally, Allianz Partners is an re/insurance company that offers health, life, automotive, and travel services. It also provides liability insurance for rental cars, travel delay, hotel cancellation, and business trips Gandhinagar/GIFT...
Building a new Key Bridge could take years and cost at least $400 million, experts say
The Key Bridge collapsed Tuesday, killing six members of a crew that was working on the span, after the Dali cargo ship plowed into one its supports. Officials are scrambling to clean up and rebuild after the accident, which has shuttered the city's busy port and a...
Delhi HC to examine Google’s advertising terms for legal remedies in India
Justice Pratibha M. Singh was hearing a plea filed by Startupwala Private Limited against Google India Private Limited, challenging the conditions under which their digital advertisements were disapproved or labelled as 'Limited' New Delhi: The Delhi High Court has...
Centre issues advisory against mobile calls impersonating DoT
The DoT also issued advisory about WhatsApp calls from foreign origin mobile numbers (like +92) impersonating government officials and duping the people. "Cyber criminals through such calls try to threaten/steal personal information to carry out cyber-crime/financial...