Welcome to My Blog

Here is a masonry blog layout with no sidebar

KM Birla won’t buy firms with global supply chains, cites protectionism

by | Jun 23, 2021 | , ,

China’s rapid economic rise in the past few years and the coronavirus pandemic more recently have exposed the vulnerabilities of global supply chains. This, in turn, has spurred almost every nation, be it the U.S., European Union or Australia, to turn inward, protect domestic enterprises and pursue self-reliance — a macroeconomic policy shift that has complicated growth plans for multinational corporations.

FM calls for re-thinking financing and development priorities for inclusive, resilient infra

by | Jun 23, 2021 | , ,

The Finance Minister highlighted setting up of National Bank for Financing Infrastructure and Development, National Infrastructure Pipeline, National Monetisation Pipeline, liberalised FDI, development of GIFT City to promote Infrastructure Development, incentivise private partners and innovation.
Adopted in 2015, SDGs are the world”s shared plan to end extreme poverty, reduce inequality, and protect the planet by 2030.

Men took bigger jobs hit in pandemic across euro zone: ECB study

by | Jun 23, 2021 | , , , , ,

Men accounted for more than 60% of the jobs losses last year, while in terms of hours worked they suffered more than two-thirds of the overall drop, the ECB said in an Economic Bulletin article.

With women heavily represented in the leisure and hospitality sector, some economists and even ECB officials warned that women were at risk of losing more, but the study suggests that women found new work more easily then men.

Hybrid SIRC planned in 2021, Current EC of Singapore Reinsurers’ Association re-elected for 2021-22

by | Jun 23, 2021 | , ,

 “With the global roll-out of the COVID-19 vaccines, we are cautiously optimistic that by the time the 17th SIRC is staged in November, some of the Safe Management Measures and travel restrictions that are currently in place will be eased so that we can welcome some of our loyal international supporters back to our shores. Hence, our Secretariat is already drawing up plans for a ‘hybrid event’, combining a virtual segment similar to the SIRC 2020 Re-Mind event that was organised last year, with a scaled-down ‘live event’ that will incorporate all health and safety protocols aligned with the prevailing SMMs mandated by the relevant authorities.”Marc Haushofer, Chief Executive Officer, Asia Pacific & Executive Vice President of Validus Reinsurance Company, who has also been reelected as the SRA Chairman, for 2021-2022

India is making collective efforts to reduce gender gaps in labour force participation

by | Jun 23, 2021 | , ,

The minister added that the new Code on Social Security may now include even self-employed and all other classes of work force into the folds of social security coverage. A voluntary and contributory pension scheme introduced in 2019 for the unorganised sector workers provides for minimum assured pension after the age of 60 years.

Industry must make pricing of financial products transparent: RBI Dy Guv

by | Jun 22, 2021 | , ,

Citing an example of such opaque arrangement, Sankar said bundling of products in the financial sector is one such arrangement.

Bundling tends to favour a seller of such a product rather than consumer, he said, adding “when bundling and such issues come up, I think regulators need to be more alert to the possibilities of mis-selling and misuse”.

Karnataka to set up system at dams to get real-time water data, to prevent floods

by | Jun 22, 2021 | , , , , ,

This system, once set up in Karnataka’s Almatti and Narayanpur dams, will help the officials of both the states overcome the possibility of floods. In case Maharashtra has to release water from its dams as a precautionary measure, it will inform the Karnataka officials who would accordingly lower their water level in Almatti and Narayanpur dams. This alleged lack of communication in 2019 had resulted into Maharashtra releasing lakhs of cusecs water into river beds that flooded the villages on the banks.

UK financial sector urges caution over any ‘work from home’ law

by | Jun 22, 2021 | , , , , ,

“This is going to evolve, clearly, and that’s why legislation would be inappropriate,” Bruce Carnegie-Brown, chairman of the Lloyd’s of London insurance market, told City & Financial’s City Week event.

“We have to allow different sectors of the economy to adapt in different ways to address this opportunity, frankly, for a more mixed economy of remote and physical work. The return to the office should be treated carefully so those working from home did not feel excluded.” Carnegie-Brown said

European Insurers’ Body warn about market access barriers in India, Argentina, Brazil, Indonesia and Canada

by | Jun 22, 2021 | , , , ,

Removing these barriers is vital to reduce protection gaps and to avoid dangerous concentrations of risk in these jurisdictions. Furthermore, to avoid a build-up of climate-related risks in any one jurisdiction and to facilitate the sharing of natural catastrophe risk across (re)insurance markets, it is more important than ever that discriminatory barriers to trade and market access be removed.

UK remains Europe’s most attractive destination for financial services investment, gap with France narrows:EY

by | Jun 22, 2021 | , , , ,

According to global investors surveyed, the top three drivers of UK growth in the coming years are the digital economy (top with 54% stating this), real estate (second with 42%), and financial services (third with 33%). Healthcare and wellbeing came fourth with 29%.At a city level, London continues to be seen as Europe’s most attractive destination for financial services FDI (backed by 44% of respondents) followed by Stockholm (19%) and Amsterdam (17%).