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SEBI warns listed firms, regulated entities against ‘Boss Scam’ involving CEO, MD impersonation
According to SEBI, fraudsters are targeting CEOs and other senior officials through email, WhatsApp and other social media platforms. They then communicate with finance officials or other employees by impersonating these senior executives and direct them to transfer...
Govt making all efforts for early release of AI-171 crash report: Naidu
"The investigation is currently ongoing. We are making every effort to complete investigation and get the final report as soon as possible. But we must be mindful that rushing the process could lead us away from the truth," Naidu told reporters when asked about the...
SC takes suo motu cognisance of matter regarding access to life-saving medicines
The matter relates to a woman in Kerala, who was suffering from breast cancer and had moved the state high court challenging the exorbitant prices of medicine for treatment. She died during the pendency of the plea in the high court. New Delhi: The Supreme Court on...
China:Pushing For Real-World Training for Next-Generation Humanoid Robots
A divergence has emerged between Chinese and American firms developing embodied intelligence. In China, models are increasingly trained using data generated by humanoids in the environments in which they will be operated.In contrast, US firms are buying data and...
World faces energy security risks if Hormuz fails to reopen soon: IEA
"It is mainly Asia, because Asia was getting 80 to 90% of this energy from the Strait of Hormuz," he said. Japan and South Korea have suffered, but developing countries including Pakistan, Bangladesh and India have been hit hardest, he said. WASHINGTON: If the...
Allianz Jio Re writes Rs266 crore of prm in maiden qtr, AGCS India to shift its business to JV
``We assure clients of uninterrupted service, continuity of coverage and consistent relationship management, as the existing facultative reinsurance portfolio from Allianz Commercial / Allianz Global Corporate & Specialty (AGCS) will be transitioned to Allianz Jio...
ICICI Lombard loses over $980 million in value on persistent earnings worries
A recent Indian Supreme Court ruling on motor accident compensation, coupled with pricing pressures, has raised the risk of further provisioning and earnings downgrades, analysts said. Mumbai:Shares of ICICI Lombard General Insurance logged their steepest fall in six...
After Hormuz, Iran turns Red Sea into new strategic pressure point
A senior Yemeni official warned on Monday that the country’s armed forces were prepared to close the Bab el-Mandeb Strait – a move he said could send oil prices soaring to $200 a barrel – if Saudi Arabia continued to attack Yemen, according to a report on Iran’s Press...
UK unveils rules to establish Captive Insurance regime
The Bank of England and the Financial Conduct Authority laid out plans for a captive insurance regime, according to a statement Tuesday. Captive insurers are entities set up by companies or public institutions that provide their own cover. The UK has proposed rules to...
China braces for unusually active Typhoon season after Bavi
In its latest midsummer outlook, the National Climate Centre forecast that as many as six tropical cyclones would hit China this summer, a higher number than average. These storms “are expected to be strong overall” and to affect mainly coastal areas of southern and...
UK to bring cloud service providers under direct financial regulation
“As banks, insurers and financial market infrastructures become increasingly reliant on cloud services, disruption at a major supplier could affect multiple firms at the same time, potentially impacting services customers depend on,” the government said in a statement...
ICICI Lombard Q1 PAT slumps 46% to Rs 403 crore on fire losses, Supreme Court Motor TP ruling
Sanjeev Mantri, MD & CEO, ICICI Lombard General Insurance The company said the quarter's combined ratio included the impact of two large fire losses amounting to Rs 63 crore, which added 1 percentage point to the ratio. In addition, a recent Supreme Court...
El Niño poses weather-driven credit risks for LatAm transportation
The Panama Canal is exposed to specific hydrological risk, as reduced rainfall in the Gatún Lake watershed could again lower water levels, leading to draft restrictions and revenue pressure. Fitch Ratings says El Niño poses broad weather-related risks for Latin...
Munich Re’s Ankur Gupta takes over as CEO of Partner Re’s GIFT City branch
Ankur Gupta, CEO, Partner Re,GIFT City. Partner Re’s GIFT City branch will provide support to Indian clients, enhancing responsiveness, regulatory alignment, and ease of doing business, offering locally the depth of PartnerRe’s global underwriting expertise and...
Files relating to India’s largest nuclear power plant Kudankulam exposed in data breach
Another document purports to show that Reliance Infrastructure and the Nuclear Power Corporation had taken out an insurance policy that would entitle them to $112 million if either Unit 3 or Unit 4 were to suffer an act of terrorism Bengaluru: Ransomware group...
HDFC Life records 12% rise in net profit to Rs 611 crore in Q1FY27
Vibha Padalkar, MD & CEO, HDFC Life, said,"Growth during the quarter was underpinned by strong customer acquisition, with the number of policies growing in double digits and ahead of industry,'' Mumbai:Despite having a slight fall in value in new margin (VNB),...
ICICI Pru Life Q1 pofit Jumps 28 pc to Rs 386 cr
Anup Bagchi,MD & CEO,said, “We reported a new business premium growth of 21.3 per cent year-on-year in Q1-FY2027 on the back of number of policies growth of 13.2 per cent. Protection continues to be our core focus area, During the quarter, we settled ₹ 1,306 crore...
Draft final probe report in Ahmedabad plane crash to be ready in October: AAIB to SC
The affidavit stated that the objective of an aircraft accident investigation is solely to improve aviation safety and prevent future accidents, and not to apportion blame or determine civil or criminal liability. New Delhi:The Aircraft Accident Investigation Bureau...