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HSBC buys virtual plot of land in digital push
HDBC's venture into the virtual world comes as the British-based lender slashes its footprint in the real world, announcing on Tuesday it would cut a further 69 branches in Britain as its customers move online HSBC is the second global bank to invest in a popular...
COVID-19 pandemic is ‘far from over,’ says WHO
After more than a month of decline, COVID cases started to increase around the world last week, the WHO said, with lockdowns in Asia and China's Jilin province battling to contain an outbreak A combination of factors was causing the increases, including the highly...
Investor wealth rises Rs 19 trn as Sensex soars 5,000 pts in 8 sessions
The valuations of Indian markets having moderated, geopolitical tensions subsiding, and with more clarity on the timeline for policy rate hikes by the US Federal Reserve, the volatility in the markets is expected to abate, said brokerage house Samco Securities in a...
Ping An posts 29% profit drop on China property woes, but sees losses easing
The insurance group has been shaken in recent quarters by growing concerns about its investments in the highly indebted property sector, which has been hit by a string of developer defaults, credit rating downgrades and slump in shares and bonds SHANGHAI/HONG KONG:...
Aircraft insurers brace for deluge of Russia claims, with Lloyds on hot seat
The Financial Times reported Thursday that Lloyd’s of London is expecting a “significant but manageable overall loss” with a final bill between $1 billion to $4 billion after reinsurance pays out, citing a person familiar with the matter. The exchange didn’t respond...
Swiss Re announces new appointments in Asia and North America
Ivan Gonzalez has been appointed CEO Reinsurance China and China country president with effect from 1 July 2022 Katie McGrath will succeed Ivan as Regional CEO for Swiss Re Corporate Solutions in North America Russell Higginbotham, chief executive officer Reinsurance...
Reliance General Insurance to provide cover to One Moto India’s e-two wheelers
Electric two-wheeler maker One Moto India on Thursday said it has partnered with Reliance General Insurance to provide motor insurance to its customers. The company, which has launched three electric scooters -- Byka, Electa, and Commuta, said the partnership will...
Govt focuses on the five-fold strategy to prevent Covid resurgence
"I would also like to emphasize that there should be continued focus on the five-fold strategy, i.e., Test-Track-Treat-Vaccination and adherence to COVID Appropriate Behavior," said Union Health Secretary Rajesh Bhushan New Delhi: With the resurgence of COVID-19 cases...
Indian fintech payment firms have no data advantage over banks: Moody’s
According to Moody's Investors Service, the introduction of the Unified Payment Interface (UPI) in 2017, which allows funds to be transferred instantaneously, has been a key catalyst to the development of digital payments due to the ease of use of apps running on the...
Unfolding global developments poses risks to Indian economy, says RBI
Even though India is making steady progress on the domestic front, the spiralling oil and gas prices and unsettled financial market conditions also pose fresh headwinds to the still incomplete global recovery, it observed The RBI also said that a rapid and large...
China weighs exit from ‘zero COVID’ and the risks involved
Studies of Chinese vaccines suggest they offer significantly less protection against infection from omicron, even after three doses, than a booster shot from a Western vaccine using mRNA technology. A Chinese mRNA vaccine is still in trials One major reason China is...
Japan manufacturers restart some of the northeast’s quake-hit plants
Renesas Electronics Corp, which makes nearly a third of the microcontroller chips used in cars globally, said a stop on two factories and a partial stop on a third remained in place Tokyo: Japanese manufacturers began restarting production at some of the plants that...
Be ready to lose all your money in crypto, EU regulators warn
Regulators are increasingly worried that more consumers are buying 17,000 different cryptoassets, including bitcoin and ether, which account for 60% of the market, without being fully aware of the risks LONDON:, Consumers risk losing all their money invested in...
Swiss Re cuts fossil fuel cover for oil, gas to protect climate
In its annual sustainability report released Thursday, Swiss Re said it would no longer insure projects that get the go-ahead from their parent company from 2022, unless the company has an independently verified, science-based plan to reach net-zero emissions Now, the...
UK tables ‘world-first’ online safety law in Parliament
Nadine Dorries,UK Digital Secretary The Online Safety Bill has been dubbed a milestone in the fight for a new digital age, which will hand the country’s communications watchdog the power to fine or even ban offensive websites. It is also designed to protect children...
Cyclone brewing in Bay of Bengal, A&N Islands to get heavy rains
“If the forecast materialises, tropical cyclone Asani will become the first-ever tropical cyclone to hit Andaman and Nicobar Islands in March. Not a single tropical cyclone has hit the region in March in at least 132 years,” Akshay Deoras, a meteorologist at the...
Singapore Airlines’ in-flight retailer says 4,749 customers exposed to phishing attack
The company has reviewed its systems and processes together with Singapore Airlines and concluded that the breach was an isolated incident that came about due to a human error. None of its other databases or systems had been compromised Singapore: Personal information...
Shell directors may face lawsuit over climate transition plans
The ClientEarth lawyers said they are seeking to hold the directors personally liable for what they consider to be a failure to adequately prepare for the global shift to a low-carbon economy, claiming an alleged breach of the directors’ duties under the UK Companies...