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Regulators turn spotlight on company sustainability ratings

The International Organization of Securities Commissions (IOSCO), which groups market regulators from the United States, Europe and Asia, recommended in a consultation paper on Monday that its members consider formally regulating an industry that has so far largely been left to its own devices. 

This lack of regulation has prompted concerns among some investors, who say methods of calculating ESG ratings are opaque, and environmentalists, who fear “greenwashing” – or that companies might sometimes get an ESG rating they don’t deserve.

Lok Sabha passes Factoring Regulation Amendment Bill

The statement of objects and reasons of the bill state that an increase in the availability of working capital may lead to growth in the business of the micro, small and medium enterprises sector and also boost employment in the country.

The bill seeks to amend the definitions of “assignment”, “factoring business” and “receivables”, so as to bring them in consonance with international definitions and also to insert a new definition of “Trade Receivables Discounting System” .

Used-car market to more than double to 8.2 mn units by FY’26: Report

With supply disruption preventing aut companies form rolling out new models and meet the increased demand, the demand for used-cars surged over the past year and buying pre-owned cars is no more socially looked down as safety and value for money have taken precedence. The looming economic uncertainty since the pandemic also means there is an amplified preference for affordable used cars, the report said.

 ICICI Lombard and Dr. Reddy’s collaborate for pilot launch of  cashless digital health solution

Users will benefit from cashless access to consultation from leading doctors and healthcare professionals across specialisations and geographies, pathology laboratories and diagnostic services, pharmacies, and a comprehensive support centre, all on a simple, easily accessible mobile platform. It offers options of in-person as well as remote tele/video consultations, home sample collections and medicine deliveries, digital health record management and a comprehensive support and fulfilment system.

22 districts recorded increasing trend in COVID cases, 54 districts report 10 pc positivity: Health Ministry

While addressing a press briefing here, Union Health Ministry Joint Secretary Lav Agarwal said, “There are 22 districts — 7 from Kerala, 5 from Manipur, 3 in Meghalaya among others, where an increasing trend in cases has been reported, in the last 4 weeks. It is a cause of concern.” Agarwal said there are still 62 districts in the country where over 100 cases are reported every day, which are found in a localised and limited set of areas of these districts.

U.S. will not lift travel restrictions, citing Delta variant -White House

U.S. Centers for Disease Control and Prevention (CDC) director Rochelle Walensky said on Thursday the seven-day average of new cases in the United States was up 53% over the previous week. The Delta variant, which was first found in India, now comprises more than 80% of new cases nationwide and has been detected in more than 90 countries. Psaki also cited the fact that last week, the CDC urged Americans to avoid travel to the United Kingdom, given a jump in cases.

IMF cuts India’s GDP growth forecast to 9.5 pc for FY22

IMF joins a host of global and domestic agencies which have cut India’s growth estimates for the current fiscal. Last month, S&P Global Ratings projected a 9.5 per cent GDP growth in the current fiscal and 7.8 per cent in 2022-23.

IMF’s Chief Economist Gita Gopinath said IMF estimates the pandemic has reduced per capita incomes in advanced economies by 2.8 per cent, relative to pre-pandemic trends over 2020-2022, compared with an annual per capita loss of 6.3 per cent a year for emerging market and developing economies (excluding China).

Saudi Arabia threatens 3-year travel ban for citizens who visit “red list” states

“Anyone who is proven to be involved will be subject to legal accountability and heavy penalties upon their return, and will be banned from travel for three years,” the official said. Saudi Arabia has banned travel to or transit at a number of countries including Afghanistan, Argentina, Brazil, Egypt, Ethiopia, India, Indonesia, Lebanon, Pakistan, South Africa, Turkey, Vietnam and the United Arab Emirates.