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HDFC Life’s net profit rises 21% to Rs 365 crore in Q1FY2023, to set up an IFSC Insurance Office (IIO) at GIFT city
Vibha Padalkar, MD & CEO, HDFC Life, The life insurer’s Indian embedded value(IEV) has risen by to Rs 29,709 crore in the reporting quarter. Its value of new business (VNB) has moved by 25 per cent to 510 crore in the same quarter Its new business margin for...
Russia defaults on LNG supplies to India
Moscow has in recent months imposed sanctions on 31 companies, including the owner of the Polish part of the Yamal pipeline that carries Russian gas to Europe, as well as the former German unit of Gazprom New Delhi: Russia has defaulted on the supply of at least 5...
Cos spent over 60 pc CSR funds on edu, healthcare, rural development in last 7 financial yrs: Govt
Nirmala Sitharaman said all CSR eligible companies have spent a cumulative CSR amount of Rs 24,865.46 crore in FY 2020-21. Out of the total amount, Rs 6,946.75 crore was spent on 'healthcare-related activities', including activities related to COVID-19 New Delhi:...
Australia’s Suncorp Group sells ITS banking unit to ANZ
Australian banks are grappling with rapidly rising interest rates and falling house prices that’s spurred some investors to reevaluate lenders’ outlooks. The deal hands the lender control of one of the country’s largest retail banks that’s also based in the...
46% of Black employees at UK firms intend to quit their current place of work soon
“Just from a human perspective it’s a sign that you’re not supporting all employees equally,” said Julia Taylor Kennedy, executive vice president for Coqual in an interview with Bloomberg News. “From a business perspective it shows that you’re not actually retaining...
Record 40°C UK temperatures linked to climate change: WMO
The heatwave is also acting as a lid, trapping atmospheric pollutants, including particulate matter, resulting in a degradation of air quality and adverse health effects, particularly to vulnerable people, explained Lorenzo Labrador, Scientific Officer at WMO’s Global...
Rising seas are the next crisis for the world’s ports
In the coming years, sea level rise, more intense storm surge and jack-up tropical storms will visit many of the world’s nearly 3,800 ports. Most of those ports are coastal; About a third are located in tropical bands vulnerable to the most powerful effects of climate...
DGCA’s spot checks detect insufficient staff certifying planes
Before each departure, an aircraft is checked and certified by an aircraft maintenance engineer (AME). The DGCA has now issued guidelines for airlines on the deployment of AME personnel and directed them to comply by July 28. "It is also seen that airlines are...
Foreign insurers in Malaysia given 2023 cutoff to reduce stakes in their local ventures
AIA Group Ltd., Prudential Plc, Tokio Marine Holdings Inc. and Zurich Insurance Group AG are among the international insurers with ventures in the Southeast Asian nation Overseas insurance companies were allowed to hold a maximum 70% in local firms, but it was mostly...
Britain on course for hottest day on record
Much of Europe is baking in a heatwave that has pushed temperatures into the mid-40s Celsius (over 110 Fahrenheit) in some regions, with wildfires raging across tinder-dry countryside in Portugal, Spain and France. Britain's government triggered a "national emergency"...
Ghana confirms its first outbreak of highly infectious Marburg virus
"(Ghanaian) health authorities have responded swiftly, getting a head start preparing for a possible outbreak. This is good because without immediate and decisive action, Marburg can easily get out of hand," said Matshidiso Moeti, WHO Regional Director for Africa...
Monkeypox: India’s second case detected in Kerala
The patient had landed at the Mangalore airport in coastal Karnataka from Dubai on July 13. He was admitted to a hospital after he exhibited symptoms of the disease. His samples were sent to the National Institute of Virology, Pune, and they tested positive for the...
RBI wants govt to prohibit cryptocurrencies: Sitharaman
Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman said, any legislation for regulation or for banning such currencies can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of...
EPFO likely to enhance investment limit in equities to 20 per cent
The proposal to revise the limit to 20 percent has been vetted and approved by the Employees' Provident Fund Organisation's (EPFO) advisory body Finance Audit and Investment Committee (FAIC) New Delhi: Retirement fund body EPFO is likely to approve this month a...
BoI launches digital mode for NPS enrollment
Bank of India launched its digital mode for the enrollment in National Pension System (NPS) in association with K-fintech. Customers can now open the NPS account on their mobile in a hassle free & paperless manner, simply by scanning the QR code. The new digital...
Rajasthan gets AI-powered tool for fast disposal of cases at Lok Adalat
According to the statement, the platform helps one perform end-to-end dispute resolution with easy drafting and filing of applications, one-click generation of e-notices, smart templates to draft settlement agreements, digital hearings powered by tailor-made video...
SpiceJet faces frequent mid-air malfunctions and financial woes
That notice from the regulator, DGCA, said SpiceJet has failed to establish “safe, efficient and reliable air services,” and a number of its aircraft returned to their origin or continued their journey with “degraded safety margins,” according to the missive, a copy...
Average farm income soars 1.3-1.7 times in FY22 from FY18: SBI Research
For certain crops in some states (like soybean in Maharashtra and cotton in Karnataka) farmers' income more than doubled in FY22 from FY18 levels, while in all other cases it rose in the range of 1.3-1.7 times The increase in the income of farmers engaged in cash...