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Govt kept investment bankers in dark on LIC’s unusually fast $3.3 billion OFS deal
Officials in the state divestment department kept the launch date a secret to prevent traders from taking positions ahead of the sale and pushing the stock lower before the government could sell its shares, according to people familiar with the matter. Even the banks...
Low insurance penetration, reforms to drive ‘massive’ growth in India’s insurance sector: S&P
"Accelerated industry reforms and low penetration levels to drive massive sector growth in India. Liberalization, competition and regulatory changes will shape the insurance sector's development," the S&P report said. New Delhi:India's insurance sector is poised...
Swiss Re strikes exclusive partnerships with India’s Bajaj General Insurance
Ivan Gonzalez,CEO, Swiss Re Corporate Solutions said: "Our partnerships with Bajaj General Insurance and GNP Seguros mark the beginning of a new era in how we serve clients in India and Mexico, two of the world's fastest-growing commercial insurance markets. Together,...
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Proposed Hormuz deal would give Iran control of inbound traffic, sources say
Despite the apparent step towards yielding to Iranian demands, the sources pushed back against assertions by U.S. President Donald Trump that a deal reopening the strait was imminent, saying important details still had to be agreed. A proposed deal between Iran and...
Yemen’s Houthis say they attacked Saudi oil tankers in Red Sea, Gulf of Aden
The group said last month that it would begin attacking Saudi vessels in retaliation for a blockade on Yemeni ports. That added a new risk to global energy markets, with the Iran war already restricting flows through the Strait of Hormuz and Saudi Arabia relying on...
DHL cargo plane lands in Hanover after mid-air collision with object
German airports are on high alert after a series of unauthorized drone overflights at sites including military facilities, energy terminals, seaports and logistics companies. A DHL cargo aircraft hit an unknown object as it was climbing away from Leipzig/Halle airport...
Government raises Rs 31,552 crore as LIC Offer for Sale closes with overwhelming investor response
"Offer for Sale in the Life Insurance Corporation of India (LIC) closed with an overwhelming response from both retail and institutional investors. The issue was oversubscribed on both days, and the Government exercised its entire green shoe option. With this, the...
Shipping through Hormuz declines as Red Sea traffic drops to lowest since June 1: S&P Global
The report, said, "Crossings through the Strait of Hormuz reached 15 on August 3, down from a revised figure of 19 a day earlier," based on data from S&P Global MINT and S&P Global Commodities at Sea. New Delhi: Shipping activity through the Strait of Hormuz...
Govt paves way for return of merchant fees on digital payments
An amendment to India's Payment and Settlement Systems Act, tabled in parliament by Finance Minister Nirmala Sitharaman, would allow the introduction of a merchant discount rate (MDR) on digital payments
RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
RBI marginally raised the growth forecast to 6.7 per cent while lowering inflation projection to 5 per cent for the current fiscal. Mumbai: In an expected move, the Reserve Bank of India on Wednesday kept key interest rates unchanged for the third time in a row this...
Climate change & Economic Risks: Europe’s rivers dry up as heat waves intensify
Europe’s major industrial arteries, the Rhine and Danube, are plunging toward historic lows as successive heat waves and prolonged drought disrupt cargo transport, raise freight costs and threaten power generation—highlighting the growing economic risks of climate...
Goldman Sachs, Talcott partner $1 billion Bermuda reinsurance sidecar for U.S. annuities
Under a quota share agreement, the sidecar will assume a portion of specific U.S. annuities originated by Talcott.Talcott will provide the sidecar with support services across actuarial, finance, compliance and risk functions. Talcott Financial Group and Goldman Sachs...
ADB expands credit insurance programme with 4 global insurers, to unlock $2.5 billion lending across Asia-Pacific
Four insurers are—Sompo Japan Insurance, Mitsui Sumitomo Insurance, HDI Global and SCOR Business Solutions—are joining the programme for the first time. Under the arrangement, participating insurers will cover a portion of losses arising if financial institutions fail...
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