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Govt may scale down size of LIC IPO to Rs 50,000 crore, may launch it in mid-May
The government and its advisers are considering seeking a valuation of about 1.25 to 1.5 times LIC’s embedded value, the people said. Officials are still discussing potential terms of the offering, and the fund-raising target could still change, the people said...
Shanghai extends lockdown to entire city as tests show COVID spread
The costs to the world's second-biggest economy mount. Some 23 Chinese cities are under total or partial lockdown, affecting an estimated 193 million people in areas accounting for 13.6% of its gross domestic product, the Nomura brokerage said in a note on Tuesday...
Passenger vehicle retail sales dip 5 pc in March to 2,71,358 units: FADA
''Passenger vehicles continue to see high demand and long waiting periods as semiconductor availability still remains a challenge, even though supplies slightly improved from previous month,'' FADA President Vinkesh Gulati noted New Delhi: Domestic passenger vehicle...
British insurer Aviva becomes second FTSE firm with female CEO, CFO
Jones' appointment adds to a growing list of women taking up senior executive positions at British firms. Natwest Group is the other FTSE 100 firm with a female CEO-CFO duo London: British insurer Aviva on Monday named Charlotte Jones as its next chief financial...
London marine insurers label all Russian waters high risk
Marine insurers said any rise in premiums was expected to take a few days after a notification period Russia's maritime sector is grappling with the winding down of services including ship certification by leading foreign providers - needed for accessing ports and...
Chhattisgarh tops states with lowest unemployment rate in country: Govt
The state government has set up the 'Chhattisgarh Employment Mission' intending to create around 15 lakh new employment opportunities in the next five years. Chhattisgarh has been ranked first among states with the lowest unemployment rate in the country, an official...
India-Many passenger vehicle manufacturers report healthy wholesales during March 2022
"Tata Motors set several new records in a challenging year, disrupted by two waves of Covid, semi-conductor crisis and steep increase in commodity prices," said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric...
World Bank says war shocks to drag on Asian economies
The report forecasts slower growth and rising poverty in the Asia-Pacific region this year as “multiple shocks” compound troubles for people and for businesses. The report pointed to three main potential shocks for the region: the war, changing monetary policy in the...
Singapore port authority probes alleged bunker fuel contamination
Marine insurer Gard said in a statement that some of the vessels it insures had suffered operational issues including blackouts, and in some cases ships needed to be towed back to port Singapore is the largest marine fuel supplier in the world and sits at the...
Thailand cancels licenses of 2 P/C insurers
The firms were in serious financial trouble, which could have damaged their clients and the wider public, the Office of Insurance Commission said in a statement late Friday The government will be responsible for payments of outstanding claims and the revocation of the...
UN climate report: It’s ‘now or never’ to limit global warming to 1.5 degrees new flagship
Unless action is taken soon, some major cities will be under water, António Guterres. UN Secretary-General, said in a video message, which also forecast “unprecedented heatwaves, terrifying storms, widespread water shortages and the extinction of a million species of...
Climate change could cost U.S. budget $2 trln a year by end century: White House
"Climate change threatens communities and sectors across the country, including through floods, drought, extreme heat, wildfires, and hurricanes (affecting) the U.S. economy and the lives of everyday Americans," Candace Vahlsing, an OMB climate and science official,...
Global insurers plan to ramp up private equity investments
More than 40% of insurers plan to increase their investments in private equity in the next 12 months to boost returns, according to the survey of 328 executives overseeing more than $13 trillion in insurance assets Insurers want to put more money into private equity...
Sebi issues fresh guidelines to curb misuse of clients’ Power of Attorney
The use of DDPI will be limited only for two purposes. One is for the transfer of securities held in the beneficial owner account of the client towards stock exchange related deliveries or settlement obligations arising out of trades executed by such a client The...
WHO says 99% of world’s population breathes poor-quality air
Air quality is poorest in WHO's Eastern Mediterranean and Southeast Asia regions, followed by Africa, it said. Particulate matter, especially PM2.5, is capable of penetrating deep into the lungs and entering the bloodstream, causing cardiovascular, cerebrovascular...
New legal structure needed to counter cyber criminals: Vaishnaw
Union Minister of Information Technology Ashwini Vaishnaw said this problem can be tackled by legal strategy, technology, organisations, capacity building and mutual cooperation Speaking on legal strategy to counter cyber crimes, Vaishnaw said the country needs to...
Sharp fall in marriages heightens China’s concerns over declining birth rate
Early this year National Bureau of Statistics (NBS) said China's population grew by less than half a million last year to 1.4126 billion as the birth rate fell for the fifth consecutive year, stoking fears of a looming demographic crisis and its adverse impact on the...
PSU insurers lodge Covid insurance claims worth Rs 17,537 cr till Dec 2021
''Till December 31, 2021, 14.92 lakh COVID-19 health claims, of a total amount of Rs 17,537 crore, were lodged with public sector insurance companies, of which 93.3 per cent claims had been disposed of,'' Minister of State for Finance Bhagwat Karad said in a written...