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Elon Musk under federal investigation, reveals latest Twitter court filing
Elon Musk,CEO,Tesla In the court filing, Twitter without delving into details of the matter, simply said that they are looking into Musk's "conduct" linked to the deal. The main scrutiny seems to be on Musk's legal team Tesla CEO Elon Musk is being investigated by the...
One in 20 people suffer long-term effects of COVID-19: Study
The research, published recently in the journal Nature Communications, found that long-COVID symptoms were more likely following severe infections requiring hospitalisation. The most reported long-COVID symptoms included breathlessness, chest pain, palpitations, and...
IRDAI extends ‘Use and File’ procedure to `miscellaneous products’ with SA up to Rs 5 crores
Earlier, though the products with a sum assured above Rs 5 crore could be launched without prior approval of IRDAI, the products with sum assured up to Rs 5 crore still required the regulatory clearance before getting launched in the market Hyderabad: The IRDAI in its...
Inter-Regulatory Technical Group on FinTech issues norms for approving hybrid regulatory Sandbox
In order to facilitate testing of innovative products/services falling within the regulatory ambit of more than one financial sector regulators viz. RBI, SEBI, IRDAI, IFSCA and PFRDA, a Standard Operating Procedure (SOP) for Standard Operating Procedure for...
APAC life insurers’ large liquidity positions limit derivative exposure risks
Japanese life insurers’ derivative-related exposures are higher than those of other insurers in the region, primarily because of hedged foreign-exchange risks, mainly against the US dollar. Generally, 50%-90% of these currency risks are hedged and transactions are...
Maha drug regulator orders sample checks on all oral liquid solutions
Maharashtra drug regulator's direction comes a day after Indian health authorities said they had halted all production of New Delhi-based Maiden Pharmaceuticals following a WHO report that its cough and cold syrups exported to Gambia may be linked to the deaths of...
NHAI InvIT looks to raise additional Rs 3,800 cr: Minister Nitin Gadkari
Nitin Gadkari, Road Transport and Highways Minister. Gadkari said that the InvIT, so far, has raised more than Rs 8,000 crore from foreign and Indian institutional investors.Infrastructure Investment Trusts (InvITs) are instruments on the pattern of mutual funds,...
Irdai grants approval to merger of Exide Life into HDFC Life
With the transfer of its life insurance business to HDFC Life, Exide Industries acquired 4.12 per cent stake in HDFC Life New Delhi: Insurance sector regulator Irdai has granted final approval to HDFC Life Insurance Company Ltd (HDFC Life) to merge Exide Life into the...
Govt accords infrastructure status to data centres with over 5 MW capacity
According to an ICRA report, data centres capacity expansion in India by both foreign and local firms is expected to add investments to the tune of Rs 1.05 lakh to 1.2 lakh crore over the period of next five years. New Delhi: The government has accorded infrastructure...
Markel International appoints Rohan Davies to lead a combined wholesale marine and energy division
The wholesale operation, headed by Andrew McMellin, is seeing significant growth and remains on track to achieve its ambitious goal of being a US$2bn (GWP) player by 2025, as part of Markel’s global insurance operation’s previously disclosed goal to reach $10 billion...
Passenger vehicle wholesales surge 92% in Sep on robust festive demand
Passenger vehicle (PV) dispatches from factories to dealerships in September 2021 stood at 1,60,212 units In the September quarter, PV sales increased by 38 per cent to 10,26,309 units, as against 7,41,442 units in the similar period of the last fiscal New Delhi:...
Crypto hackers set for record year after looting over $3 billion: Report
At least $718 million has been stolen so far in October alone, taking the gross tally for the year past $3 billion and putting 2022 on course to be a record for the total value hacked, according to blockchain specialist Chainalysis Inc. Most of the targets are...
Net-zero: India can create 37 million additional jobs by 2050 through planning and investments, says Swiss Re
Paul Murray, CEO Reinsurance Asia at Swiss Re India is vulnerable to weather risks and its adaptive capacity for climate change is low when measured against the Swiss Re Institute's Climate Economics Index, which ranks India 45th (out of 48 markets), with only the...
Indian women prefer savings plans among life insurance products: Tata AIA survey
72% of women believe life insurance is integral to their financial planning post-Covid-19. The respondents from tier-3 cities feel more strongly about this. A savings plan was the most preferred among life insurance products, followed by term insurance. Pension plans...
India is a bright light economy, but key structural reforms needed for $10 trillion GDP: IMF chief economist
Pierre-Olivier Gourinchas, chief economist,IMF ''The way these digital tools can be deployed to improve financial inclusion or to facilitate access to administrative services, and things like that. And that is a testimony to the sort of innovation in that sector that...
Mental, physical & financial resilience improving, says New HSBC Life 2022 +Factor Study
Greg Hingston, CEO, Global Insurance and Partnerships, HSBC Life, commented: "The interconnection between mental, financial and physical dimensions is clear. When one dimension improves, the others follow. When physical, mental and financial health are all addressed,...
Andrew Carrier appointed as Chief Executive Officer of MS Amlin Underwriting
Prior to his role at MS AUL, Carrier spent six years at Everest Re, where he was responsible for the firm’s London Market, Continental Europe, and Asia Pacific reinsurance operations London: MS Amlin Underwriting Limited (MS AUL), the Lloyd’s (re)insurer, announced...
Global experts to participate in “Aviation Insurance Symposium” hosted by Global Insurance Brokers tom
Currently, seven active insurers led by New India Assurance and reinsurers led by GIC Re are proving a Hull capacity of over $ 75mn and liability cover of over $ 400mn Mumbai: India not only has seen its aviation market expanding fast, also has emerged as the...