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Here is a masonry blog layout with no sidebarAxis Bank stake in Max Life Insurance likely to rise to 20% in 6-9 months: Tripathy
''The bank currently holds about 13 per cent and we are hopeful that over the next 2-3 quarters they would be able to take it to 20 per cent,'' Tripathy New Delhi: Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 6-9...
Life insurers keen to re-enter indemnity-based health space
The life sector players such as LIC, private players like ICICI Prudential Life, HDFC Life, and Bajaj Allianz Life, among others, are unanimous in saying that all of them were offering health insurance before the sectoral regulator Irdai in 2016 abruptly asked them to...
Supertech takes Rs 100 crore cover for demolition of its twin towers in Noida
Asked about the demolition cost, Arora said Supertech is paying Rs 17.5 crore to Edifice Engineering, which was tasked with safely pulling down the structures, including the premium amount for a Rs 100-crore insurance cover. In addition, there are several other costs...
Ransomware cyber attacks spike to over 1.2 mn per month in H12022
The dominant targets are still five key industries: education, municipalities, healthcare, infrastructure and finance. Researchers also saw a spike in the number of service providers that have been hit with a ransomware attack Ransomware attackers remain defiant and...
US likely to probe Apple over anti-market practices
European antitrust watchdogs have filed antitrust cases against Apple over its App Store fees and the iPhone's treatment of tap-to-pay technology After taking on Meta (Facebook) and Google with antitrust lawsuits, the US Department of Justice (DOJ) is reportedly...
Has China’s Belt & Road Initiative lost its lustre?
While there is little doubt that, during its lifetime, the BRI has become the largest transnational infrastructure programme ever undertaken by a single country, said the Forum's President Lord Bruce, in recent years evidence is mounting to show that China is actually...
Wage Revision: Deadlock continues as PSU general insurance unions insist pay parity with LIC
In a meeting convened by the GIPSA on Saturday to discuss about the restructuring of four PSU general insurance companies, Suchita Gupta, CMD, National Insurance Company and chairperson, GIPSA, had informed the unions that the offering of 12 per cent wage hike to the...
India’s GDP to grow at 7.4 pc in this fiscal: Sitharaman
Nirmala Sitharaman,Union Finance Minister "India is still the fastest growing economy. We are definitely at the range of 7.4 per cent (GDP). The level will continue even the next year." New Delhi: Highlighting the recovery of the economy and flow of investment...
Personal retail loan disbursements rise 42 pc at end-March 2022: Study
The total portfolio outstanding of retail industry increased from Rs 71 lakh crore (March 2020) to Rs 80 lakh crore (March 2021), and further to Rs 89 lakh crore as of March 2022 Private banks experienced the highest growth of portfolio outstanding with a 32 per cent...
Moderna sues Pfizer/BioNTech for patent infringement over COVID vaccine
Early in the pandemic, Moderna said it would not enforce its COVID-19 patents to help others develop their own vaccines, particularly for low- and middle-income countries. But in March 2022 Moderna said it expected companies such as Pfizer and BioNTech to respect its...
Bimaplan and Niyo Bharat tie-up to make insurance accessible to contractual factory workers
Bimaplan, a Y Combinator-backed insurtech startup has recently announced a partnership with Niyo Bharat, to provide contractual factory workers with vital microinsurance protection plans. Bimaplan and Niyo Bharat’s partnership will provide financial inclusion to...
“Use & File’- ICICI Lombard revamps its product portfolio
Sanjeev Mantri,executive director, ICICI Lombard General Insurance ` The new offerings were propelled by the recent announcement of ‘Use and File’ framework from the IRDAI. Fuelled by regulatory reforms, we have accelerated our pace of developing and launching new...
2050 net-zero target can boost India’s GDP by 7.3 pc by 2032: Report
India will need around USD 10.1 trillion in cumulative economy-wide investment to meet its 2070 target. While India could decarbonise using carbon revenues or other domestic tax-raising mechanisms to fund green investments, leveraging international support would free...
World reaches ‘tragic milestone’ of one million COVID-19 deaths so far in 2022
In January, WHO and partners launched the COVID-19 Vaccine Delivery Partnership, focused mainly on the 34 countries that were at or below 10 per cent coverage. All but six are on the continent Today, only 10 countries still have less than 10 per cent coverage, most of...
Max Life Insurance enters pension fund management biz; its arm secures licence from PFRDA
Set up with initial capital of Rs 50 crore, the fund manager is expected to begin its operation in October, Max Life managing director and CEO Prashant Tripathy told PTI New Delhi: Max Life Insurance Company on Friday said it has ventured into the pension fund...
China’s fragile economy is being hammered by driest riverbeds since 1865
Yangtze’s retreating water levels have snarled electricity generation at many key hydropower plants, sparking energy chaos across parts of the country. Mega cities including Shanghai are turning off lights, escalators and cutting back on air conditioning. Tesla Inc....
Korea shatters its own record for world’s lowest fertility rate
Korea is the world’s fastest-aging nation among economies with per capita GDP of at least $30,000, according to United Nations global population projections and World Bank data. By 2100, its population will fall by 53% to 24 million, up from a 43% decline forecast in...
Russian coal exports face European insurance ban
While Russian coal miners started re-directing volumes to Asia long before the ban came into force, the shipowners typically reinsure their risks with bigger providers that can no longer cover such exports. The companies are looking at other options, but those will be...