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No ‘spectacular announcement’ likely in Feb 1 Budget, says finance minister
"It is a matter of truth that February 1, 2024 budget that will be announced will just be a vote on account because we will be in an election mode. So the budget that the government presents will just be to meet the expenditure of the government till a new government...
Global insured losses from severe thunderstorms reach new all-time high of USD 60 billion in 2023, Swiss Re
Jérôme Jean Haegeli,Chief Economist, Swiss Re A high number of low-to-medium-severity events will aggregate to insured losses of more than USD 100 billion in 2023 Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says: "The cumulative effect of frequent, low-loss...
PM Modi’s vision for GIFT-IFSC to shine at global financial tech extravaganza – Infinity Forum 2.0
Prime Minister Narendra Modi The theme of the Forum, 'GIFT-IFSC: Nerve Centre for New Age Global Financial Services,' will be explored through three tracks: Plenary Track focusing on the making of a new age international financial centre, Green Track making a case for...
IFC,DFC and African Risk Capacity launch reinsurance fund to protect African smallholders impacted by climate crisis
Despite these increasing risks, subsidized agri-insurance is only available in four out of 54 countries across Africa, and currently only 3% of African farmers have insurance coverage for their farms. African smallholders - who face significantly more income shocks...
Oneglobal and Floodbase partner to develop parametric flood insurance programs across Asia
Connected through Lloyd's Lab, the two organizations recognized a massive opportunity to marry Floodbase's unmatched historical and near real-time flood data with Oneglobal's re/insurance expertise, leading market presence, and reputation for innovation BROOKLYN, N.Y:...
Hailstorm Claims Risk Undermining Solar Energy, Insurer Says
Insurers are beginning to reduce coverage for solar businesses due to the rising severity of hailstorms according to GCube, which insures more than 100 gigawatts of projects in 40 countries. That has also brought uncertainty to future solar projects, due in part to...
Digital India Act unlikely to be in place before next general election: MoS IT Rajeev Chandrasekhar
Rajeev Chandrasekhar, Minister of State for Electronics and IT The proposed Digital India Act (DIA) has a lot of focus on the online segment. It will focus on making the internet open with rules to check on the dominance of certain players, focus on online safety and...
Chhattisgarh records highest rate of accidental deaths among states in 2022: NCRB data
Accidental deaths have been grouped into two broad categories -- 'Deaths due to Forces of Nature', including lightning, heat/sun stroke, floor, landslide etc, and 'Deaths due to Other Causes', including traffic accidents, killed by animals, consumption of spurious...
As heart attack cases surge, Health Ministry initiates CPR training, Mansukh Mandaviya participates
CPR, or Cardiopulmonary Resuscitation is an emergency lifesaving procedure performed when the heart stops beating. Immediate CPR can double or triple the chances of survival after cardiac arrest New Delhi: A training program was organised in the Central Health...
Arbitration agreements can be binding on non-signatory firms under ‘group of companies’ doctrine: SC
“Requirement of a written arbitration agreement does not mean that non-signatories will not be bound by it, provided there is a defined legal relationship between the signatories and the non-signatories and that the parties intended to be bound by it by the act of...
UK’s National Health Service to use cancer detecting mats in public urinals
Under the cancer-catching drive, the UK’s state-funded health service and P-Wave, a leading urinal products brand, have come together to put the message “Blood in your pee? Contact your GP practice” on urinal mats in thousands of men’s toilets across the country....
Auto retail sales soar to record high in Nov aided by highest passenger vehicle, two-wheeler offtakes
''November '23 has become a historic month for the Indian auto retail industry as 28.54 lakh vehicles were sold, thus overtaking the previous high of March '20 when the industry sold 25.69 lakh vehicles,'' Federation of Automobile Dealers Associations (FADA) President...
Equity benchmarks’ record run continues; Nifty nears 21,000 points
"During the medium-term, in the run up to the general elections, the market is likely to move up aided by three factors -- expectations of political stability after the elections; favourable domestic macros like strong GDP growth, declining inflation, stable interest...
German firms diversify in Asia to reduce China risk – survey
Firms are building supply chains that are independent of China, shifting some operations away from the country and growing markets elsewhere in Asia, according to the survey of 566 companies conducted between Sept. 5 and Oct. 6 Nearly half of German companies...
War risk insurance rates edge up after surge in Red Sea ship attacks
Insurance industry sources said that war risk premiums had stayed firm on Monday at between 0.05% to 0.1% of the value of a ship, from around 0.03% estimated last week before the attacks. This translates into tens of thousands of dollars of additional costs for a...
Aon’s first-of-its-kind collaboration with AfDB and AI startup to catalyze regenerative agriculture in Africa
The collaboration intends to leverage first-of-its-kind, farm-level data produced by Amini that is intended to enable Aon’s support of the African Development Bank’s Africa Climate Risk Insurance Facility for Adaptation to develop innovative de-risking solutions and...
‘ Tamil Nadu has received historic rainfall but damage less than previous times” says CM Stalin on effect of Cylone Michaung
Chennai Airport has resumed operations after being temporarily shut down due to heavy rains that caused flooding and waterlogging on the runways, said an airport official Chennai: Amid destructions caused by Severe Cyclonic storm 'Michaung' in the state, Tamil Nadu CM...
Sensex surges beyond 69k mark as nifty rockets with 400-point rally: Investors’ wealth rises by Rs 2.4 lakh crore
Foreign portfolio investors acquired stocks worth Rs 2,073.2 crore, while domestic institutional investors remained net buyers in the last two sessions, purchasing stocks totalling Rs 4,797.1 crore, according to NSE data. Gold prices reached new highs in Monday's...