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Global protection gap reaches a new high of $1.8 trillion in 2022
`We see the world economy today as in need of a sustained reload in resilience. The value of unprotected risk exposure globally has risen steadily in the past five years. We estimate about 43% of risk globally was unprotected by assets or insurance in 2022, improved...
91% Indian firms faced ransomware attacks in 2022: Report
“Business transformation, driven by digital and cloud initiatives, continues to result in a surge in new enterprise identities. While attackers are constantly innovating, compromising identities remains the most effective way to circumvent cyber defences and access...
Canada energy sector under threat from Russia-aligned hackers, spy agency says
The Communications Security Establishment (CSE) signals intelligence agency said Russia had repeatedly deployed destructive cyber attacks against its adversaries as geopolitical crises escalate Russia-aligned hackers could seek to disrupt Canada’s powerful oil and...
EU banks ready to expand risk models to manage climate-change fallout: Survey
The results indicate that banks are increasingly concerned about the potential of global warming to hurt asset values. The industry also faces a December deadline by the European Central Bank to reflect climate risks in their governance, strategy and risk management...
Titanic sub: victims’ families could still sue despite liability waivers
Waivers are not always ironclad, and it is not uncommon for judges to reject them if there is evidence of gross negligence or hazards that were not fully disclosed “If there were aspects of the design or construction of this vessel that were kept from the passengers...
FPIs continue to bet on Indian equities; infuse Rs 30,600 cr in Jun so far
This came following a nine-month high investment of Rs 43,838 crore in equities in May, Rs 11,631 crore in April and Rs 7,936 crore in March, data with the depositories showed. Before that, FPIs had pulled out over Rs 34,000 crore during January-February Going...
“Govt refused foreign-made Covid vaccines as firms were demanding indemnity” Union Health minister
Mansukh Mandaviya,Union Health Minister The minister also dismissed suggestions that approvals for vaccines were rushed without taking into account long-term side effects and that the recent spate of heart attacks was linked to it, saying the entire process from...
Hurricane Outlook: 2023 to consist of 12 to 17 named storms, 5 to 9 hurricanes and 1 to 4 major hurricanes
“The upcoming Atlantic hurricane season is expected to be less active than recent years, due to competing factors—some that suppress storm development and some that fuel it—driving this year’s overall forecast for a near-normal season,” NOAA reported Despite the fact...
Air conditioning in India poses risk of dramatic rise in emissions: Study
''With electricity production still based essentially on fossil fuels, air conditioning as a heat adaptation strategy risks undermining our mitigation efforts, i.e., reducing greenhouse gas emissions,'' said Enrica De Cian, professor at Ca' Foscari University of...
Only 5% of India’s coal power plants meet sulphur dioxide emission norms: CSE
The Union environment ministry had specified the emission norms for coal-based power plants in December 2015. However, these have been diluted for various parameters, and deadlines have been repeatedly extended New Delhi: Even after multiple extensions, only 5 per...
More positive outcomes when elders are treated locally: Study
"Intermediate care units are the newest trend in health policy, and Norway is way ahead of the curve in this regard," says Pal Erling Martinussen, a professor in the Department of Sociology and Political Science at Norwegian University of Science and Technology (NTNU)...
Maharashtra saw 7,700 two-wheeler rider deaths in 2022; no use of helmet main reason
As per the official statistics revealed earlier this year, a total of 14,883 people were killed in road accidents in the state in 2022, an increase of 2,095 compared to 12,788 fatalities recorded in the pre-COVID-19 year of 2019 Maharashtra has more than four crore...
GST Scam: HDFC Life gets Rs 942-crore demand notice, CBIC probes more insurers
The matter relates to the claim of input tax credit against supply of services, which the GST authority believes are ineligible for such claims The D-G of GST Intelligence is currently probing large number of insurance companies and several of their intermediaries and...
Google to set up its global fintech operations centre in Gift City: Pichai
Sundar Pichai,CEO,Google Google had announced a collaboration with Bengaluru-based Indian Institute of Science to collect speech data from 773 districts across India to fine-tune its language translation and search technology Washington: Internet giant Google will set...
Value of biz covered by ECGC expected to increase to over Rs 10 lakh cr in this fiscal: Goyal
Piyush Goyal,Commerce and Industry Minister Commerce and Industry Minister Piyush Goyal added that in the next four months, all procedures at the company would be made completely digital and grievance redressal mechanism to be implemented over video conference ECGC...
Rich nations pledge to unlock hundreds of billions of dollars for climate fight
The leaders, gathered at a summit in Paris to thrash out funding for the climate transition and post-COVID debt burdens of poor countries, said their plans would secure billions of dollars of matching investment from the private sector An overdue pledge of $100...
LIC launches single premium new plan Dhan Vridhhi
(L to R) Siddhartha Mohanty, chairman, LIC and M Jagannath, managing director, LIC at the launch of the corporation's new product Dhan Vridhhi The plan comes with two options to choose from wherein the sum assured on death can either be 1.25 times or 10 times in the...