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World population at 7.9 bn on New Year’s Day, 0.9% increase over 2022
During January 2023, 4.3 births and two deaths are expected worldwide every second, the Census Bureau said. New York: The world population is projected to be 7.9 billion people on New Year's Day 2023, with 73.7 million people added since New Year's Day 2022, the U.S....
Reliance Gen offers 2.5% discount on premiums for COVID-19 vaccinated customers
In move to promote preventive vaccination, Reliance General Insurance is offering 2.5 per cent discount* on insurance premiums to customers who have taken the COVID-19 vaccines or Booster shot and other vaccines like Human Papillomavirus vaccine or Pneumococcal...
New wearable device may enhance PTSD treatment experience: Study
With PTSD, a honking horn, a crowded coffeehouse or a sharp scent can bring back traumatic memories that can raise the heart rate, increase muscle tension and lead to anxiety and depression. These reactions occur even without the presence of danger, but they pose...
Income tax exemption might be extended to Rs 5 lakh in budget, say sources
For persons in the age bracket of 60-80 years, the exemption limit is Rs 3 lakh and for senior citizens above 80, it is Rs 5 lakh. New Delhi: The government is likely to enhance the income tax exemption limit to Rs 5 lakh from the existing Rs 2.5 lakh in the...
Outlook 2023: Negotiating a Hard Reinsurance Market
Shankar Garigiparthy,CEO & Country Manager, India Reinsurers have been supporting the Indian market for many years, and have been paying significant amount of claims. With a hardening reinsurance market globally, the Indian market is also likely to face these...
Ship insurers to cancel war cover for Russia, Ukraine from Jan. 1
UK P&I Club said on Dec. 23 that the issue had arisen because of a lack of availability of reinsurance for reinsurers, also known as retrocession “The Club’s reinsurers are no longer able to secure reinsurance for war risk exposure to Russian, Ukrainian or Belarus...
Next 40 days crucial as India may see COVID cases surge in mid-January: Health Ministry Sources
As there have been reports of a surge in COVID cases in some countries, the operational readiness of health facilities is being reviewed in all States and Union Territories in case of another wave. Notably, two passengers coming from Dubai tested positive for the...
India aims to double auto industry size to Rs 15 lakh cr by 2024 end: Gadkari
Nitin Gadkari, Union minister for Road Transport and Highways ''Currently our automobile industry is Rs 7.5 lakh crore and we want to take it to Rs 15 lakh crore by the end of 2024, making it one of the largest automakers in the world, creating huge job...
1.53 lakh people died in 4.12 lakh road accidents in 2021: Report
“Road accidents decreased by 8.1 per cent and injuries decreased by 14.8 per cent in 2021 compared to 2019.Fatalities, however, on account of road accidents increased by 1.9 per cent in 2021 corresponding to the same period in 2019,” it said New Delhi: A total of...
Research: Thyroid problems linked to increased risk of dementia
When researchers adjusted for other factors that could affect the risk of dementia, such as sex, age, high blood pressure and diabetes, they found that people over age 65 with hypothyroidism were 80% more likely to develop dementia than people the same age who did not...
Unprecedented hard global reinsurance market to make Indian re/insurance renewals costlier in FY2023-24
`Devesh Srivastava,CMD, GIC Re Supply side issues like Russia Ukraine conflict, high global inflation, capacity crunch, shortage of capital, large losses including high losses from Hurricane Ian have forced global reinsurers to jack up their prices exorbitantly for...
Retail loans can become a source of systemic risk, warns RBI
'Empirical evidence suggests that a build-up of concentration in retail loans may become a source of systemic risk,'' the RBI said in its trends and progress in banking report for FY22 Mumbai: Retail loans, long considered a panacea for the banking system, may become...
Cybersecurity could emerge as the biggest challenge in 2023
Cyber criminals are taking advantage of new and advanced methods to cause considerable damage to organisations' reputation, which could potentially cause huge financial losses. For businesses, taking the right preventive steps and investing in security measures is...
Japan asks its insurers to retain marine war cover for LNG shippers in Russian waters
The move comes after Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance on Friday told shipowners that they would stop offering marine war insurance, which covers damage to ships from war in Russian waters, from Jan Industry...
India to rise to 3rd spot on the World Economic League Table by 2037 from 5th in 2022: Report
Cebr said in its annual World Economic League Table 2023 that over the next five years, the annual rate of GDP growth is expected to average 6.4 per cent, after which growth is expected to average 6.5 per cent in the subsequent nine years The Centre for Economics and...
India emerges as leading investment destination
Among the sectors, the billionaires favour energy, possibly due to today’s supply constraints and the accelerating secular transition to renewables ”This year’s report highlights how many of the wealthiest in society see it as their responsibility to lead the way,...
Consider discount on policy renewal for those with 3 doses of COVID-19 vaccine: Irdai to insurers
The regulator also urged insurers to ensure that empanelled hospitals are prohibited from taking deposit for COVID-19 hospitalisation, sources said, adding, some of the hospitals indulged in asking for deposit for COVID treatment during the first and second wave...
Climate Change: Mangroves shrinking in India due to climate change
The study claims that by 2070, the Indian mangroves will reduce and shift by around 50 per cent, especially in southern India, due to decline in suitable habitats along the east and west coasts of India Lucknow: A research conducted by Birbal Sahni Institute of...