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Fed likely needs to raise rates higher and possibly faster, Powell tells lawmakers
Federal Reserve Chair Jerome Powell “From a broader perspective, inflation has moderated somewhat since the middle of last year but remains well above the FOMC’s longer-run objective of 2 percent,” Powell said in his prepared remarks released in Washington. Federal...
China to set up a national financial regulatory administration
It will be established on the basis of the China Banking and Insurance Regulatory Commission (CBIRC), which will not be retained, the plan said, noting that certain functions of the People’s Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC)...
Swiss Re closes second alternative capital transaction with J.P. Morgan
Philipp Rüede, Head of Swiss Re Alternative Capital Partners, said: "This deal also represents another important step on Swiss Re's Alternative Capital Partners' journey, where we are increasingly using alternative capital to address our wider capital management...
Nearly everyone globally exposed to unhealthy levels of tiny air pollutants: Lancet study
While the daily PM2.5 levels have reduced in Europe and North America in the two decades to 2019, levels have increased in South Asia, Australia, New Zealand, Latin America and the Caribbean, with more than 70 per cent of days globally seeing levels above what is...
H3N2 also spreads like COVID, elderly should be careful: Dr Randeep Guleria
Dr Randeep Guleria "It spreads through droplets. However, I think there is not that much of a cause of concern because although the number of cases increased hospitalisation has not gone up to a very large extent." he said. New Delhi: Noting a spurt in cases of the...
General insurers likely to end FY 2022-23 with a total prm of over Rs 2.5 trn, Pvt sector players’ market share exceed 60%
Twenty multiline private sector general insurers led by ICICI Lombard General Insurance, have maintained a formidable lead over the four PSU general insurers by recording a total premium of Rs 1,19,561.38 crore, a y-o-y growth of 21 per cent and have already...
Delhi HC asks consortium for rare diseases to give recommendations on funding of clinical trials
The consortium shall consider the age of children whose lives may be completely curtailed if treatment is not commenced and the expenses, which may be incurred for providing the medicines, it said The consortium shall deal with the possibility and feasibility of...
PM Modi chairs high-level meet to review preparedness for hot weather conditions this summer
PM was also briefed about disasters related to heat, mitigation measures and preparedness of medical infrastructure, the PMO said New Delhi: Prime Minister Narendra Modi Monday chaired a high-level meeting to review preparedness for the hot weather conditions during...
Automobile retail sales see double-digit growth in Feb on robust demand
Total commercial vehicle retail sales in February grew 17 per cent to 79,027 units, as compared to 67,391 units in the same month last year. New Delhi: Automobile retail sales in India witnessed a double-digit year-on-year growth in February driven by robust sales...
India must align with leading global markets in freedom in pricing, coverage, limits and deductibles: RIMS/NIA study
The report provides global benchmarks on proven insurance practices, and discusses critical aspects like customer experiences, seamless claim settlements, and adoption of new technologies. The time is ripe for introducing changes in the insurance industry that will...
IRDAI now wants `Insurance for all’ by 2027, legal drive to expand nationwide motor TP cover to begin soon
Debasish Panda, chaIrman, IRDAI Armed wIth specific data from Vahan, a tech platform designed by the Ministry of Road Transport and Highways as a repository a of all the registered vehicles in the country, and Insurance Information Bureau(IIB) , which has data of all...
Uzbek cough syrup deaths: Process underway to cancel license of Marion Biotech, says official
Marion Biotech had come under the scanner in December over reports of the children’s death in Uzbekistan after which India’s Central Drugs Standard Control Organisation (CDSCO) initiated a probe into the matter and found 22 out of 36 samples “not of standard quality”...
Ayushman Bharat – Health and Wellness Centres scheme cannot be converted by states: Health Minister Mandaviya
Health Minister Mansukh Mandaviya ''Health and Wellness Centres scheme cannot be converted. If any state does not want to adopt it, it can stop it, that is one issue. But it cannot be converted,'' Health Minister Mansukh Mandaviya stressed Patiala: Health Minister...
Centre saved $ 27 bn in schemes using DBT method, says Economic Affairs Secy
“And since the transfers are all direct, end to end, and swift, there is little scope for corruption and leakages and removal of duplicate/ fake beneficiaries. In our own experience, DBT has entailed a saving of more than USD 27 billion just across key central...
India’s per capita income doubles since 2014-15
As per the National Statistical Office (NSO), the annual per capita (net national income) at current prices is estimated at Rs 1,72,000 in 2022-23, up from Rs 86,647 in 2014-15, suggesting an increase of about 99 per cent In real terms (constant prices), the per...
China to deepen financial reform, open to more foreign investment
"We need to deepen reform of the financial system, improve financial regulation, and see that all those involved assume their full responsibilities to guard against regional and systemic financial risks," Premier Li Keqiang Beijing: China will deepen financial reform...
Govt not in ‘crazy rush’ to sell everything: FM Sitharaman on privatisation
Finance Minister Nirmala Sitharaman Two years ago , the government had said it would privatise some PSU banks and one PSU insurance company but it seems they are no more government priorities now. The focus of the strategic disinvestment process in the coming year...
China discourages “bride prices” to check fast-declining population
China's population is shrinking for the first time in more than six decades in 2022, which is a serious demographic crisis for the country with significant implications for its slowing economy, CNN Business reported According to data surveyed in late January last...