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Yellen says insurance ban on tankers could lock in Russian Oil
Janet Yellen, US Treasury Secretary The US has already outlawed imports of Russian oil and the European Union has agreed to prohibit seaborne imports of Russian crude in six months. On top of that, the bloc has worked toward coordinating with some Group of Seven...
Warming Africa threatens insurers’ quest for profit
Temperatures in southern Africa rose at twice the global rate on average in the five years leading up to 2019, according to a report by the Intergovernmental Panel on Climate Change Yet insurers are undeterred, with some looking to expand even in vulnerable...
Munich Re elevates Akash Gupta as MD and head of Southeast Asia life and health
With effective from July 1, Munich Re has elevated Akash Gupta as managing director and head, Southeast Asia life and health. Gupta is currently Munich Re’s head of life and health Asia valuation and planning. Based in Singapore, Gupta reports to David Hughes, CEO,...
Cryptocurrencies akin to ‘a world of Carribean pirates’ in absence of regulation: CEA
V Anantha Nageswaran,Chief Economic Adviser The government is working on a consultation paper on cryptocurrencies and is taking inputs from various stakeholders and institutions, including World Bank and IMF New Delhi: Chief Economic Adviser V Anantha Nageswaran on...
Howden Group acquires TigerRisk, creates a new $30bn force in global insurance broking
David Howden, CEO, Howden Group The partnership represents approaching $400m of combined reinsurance revenues David Howden, CEO, Howden Group said: “ Not only does the combination create an unrivalled digitally driven reinsurance and capital markets business...
Equity MFs continue to see positive momentum; Rs 18,529-cr inflow recorded in May
''The consistent SIP flows are supporting the net positive sales numbers in equities. Through the ongoing volatility, we see continued interest amongst retail investors to allocate to equity MFs. The spread of new flows is well diversified across categories,'' Akhil...
De-board ‘unruly passengers’ for not following Covid-19 protocols in aircraft, says DGCA
In case, any passenger on board an aircraft refuses to wear a mask or violates the "COVID-19 Protocol for passengers" even after repeated warnings, during the course of the flight, such passenger may be treated as an "Unruly Passenger" New Delhi: The Directorate...
Russia to use state guarantees to bypass EU ban on insuring maritime oil deliveries to 3rd countries: S&P
Trading, insurance and shipping executives said last week that such a ban could further complicate trade in dry bulk and liquid commodities with Russia, making them more expensive, delaying scrapping of old ships, pushing up global freight rates and encouraging...
Indians planning to reduce number of cars they own: Survey
The public’s lack of interest in getting rid of polluting vehicles is a potential setback for India’s ambitions to turn net carbon zero by 2070. Recycling old cars is crucial for India to cut emissions considering the take up of electric vehicles is lagging due to...
India’s crop-nourishing monsoon rains to pick up steam by mid-June
The monsoon - which accounts for nearly 70% of India's annual rainfall and is the lifeblood of its $2.7 trillion agriculture-dependent economy - arrived on the coast of southern Kerala state on May 29, two days ahead of the usual time But since June 1, when the...
NHA organises 3-day orientation workshop on Ayushman Bharat Digital Mission scheme
Besides the NHA team, various health industry experts and academicians would also be sharing their knowledge on IT project management, design thinking for ABDM, Health Management information System, data privacy, and healthcare systems engineering and thinking, it...
Deadline to submit Reliance Capital resolution plans likely to be extended
According to sources, as of now, there are only three bidders who are actively engaged with the CoC for RCap's resolution. These are Piramal, Yes Bank and IndusInd Bank Mumbai: Lenders to Reliance Capital may extend the last date for submission of bids for acquiring...
Indian fintech market expected to reach USD 150 bn in valuation by 2025: MoS Finance
More than 50 lakh banking correspondents across the country are carrying out ''cash in cash out'' kind of transactions using the system, UIDAI CEO Saurabh Garg said ''There is a need for a proper cyber security system, real time disputes to be solved and emergency...
General insurance industry’s premium surge by 25 % to Rs 15,275 crore in May
Led by ICICI Lombard General Insurance, the private sector general insurers’ total premium has grown by 17 per cent y-o-y to Rs 8034 crore in the month of May The private sector general insurers have increased their market share to 51.84 per cent(47.92 per cent) in...
Air quality panel bans use of coal in Delhi-NCR from next year
However, the use of low-sulphur coal in thermal power plants has been exempted from the ban New Delhi: The Commission for Air Quality Management (CAQM) has issued directions to ban the use of coal in industrial, domestic and other miscellaneous applications in the...
AXIS Re to exit property reinsurance business, Ann Haugh will replace Arora as new CEO
“The decision to close our Property Reinsurance business was not taken lightly and was driven by the significant and increasing effects of climate change and the challenges faced by the catastrophe reinsurance market. We are committed to doing all we can to help...
Hong Kong tops the list of World’s 20 most expensive cities for expats
Higher prices and a stronger currency over the past year kept the Asian city at the top of the tree, according to ECA International, which carried out its research in March this year. London and Tokyo round out the top five Hong Kong is the world’s most expensive city...
RBI raises key lending rate by 50 basis points to check raging inflation
Shaktikanta Das.Governor,RBI RBI Governor Shaktikanta Das said that real GDP for FY23 is seen at 7.2%, and that for Q1 at 16.2%, Q2 at 6.2%, Q3 at 4.1%, and Q4 at 4%. The inflation projection for the current financial year is seen at 6.7% and for Q1 at 7.5%, Q2 at...