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Indian

Waiting for Cabinet approval, says FM on bill on cryptocurrency

The inter-ministerial panel on cryptocurrency under the Chairmanship of Secretary (Economic Affairs) to study the issues related to virtual currencies and propose specific actions has already submitted its report.

It has recommended that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.

India’s vehicle scrappage policy provides opportunities for new biz models: Experts

Deloitte India Partner & Leader, Government & Public Services Arindam Guha said in addition to reducing vehicular pollution and improving road safety, the vehicle scrapping policy is also likely to attract additional investments and generate employment through registered vehicle scrapping facilities (RVSFs), with around 50-60 such centers likely to be set up across the country.

Ola drives in e-scooter tagged at Rs 99,999 onwards; deliveries to commence in Oct

”Charging station roll out will follow sales rollout, so it will be sales, then charging stations but every city will have at least relevant scale as we begin,” Aggarwal said. Ola had earlier stated that it would like to have 5,000 charging stations across 300 cities and towns across India.
The executive pointed out that the company has received strong demand from about 1,000 towns and cities. ”The EV revolution is here to stay whether incumbents like it or not. Consumers have shifted in their mindsets and before we know it, people will be buying only electric,” he noted.

International

EU Prepares for Coming of Facial Recognition– On Its Privacy Terms

Facial recognition has emerged as a hot-button issue as the EU prepares to outline its plans to regulate artificial intelligence next month. Privacy advocates are urging legislation to prevent abuses, while law enforcement is warning against banning a tool that can make societies safer.

UK and EU commence sparring over post-Brexit trade rules

The European Union wants an ambitious zero-tariffs and zero-quotas trade deal with Britain but this will be conditional on open and fair competition between the UK and the 27-nation bloc it quit last week, the EU’s Brexit negotiator said.

Most UK insurers, banks unprepared for risks of climate change

The Bank is holding a consultation, led by Breeden, on stress-testing lenders and insurers on their exposures to global warming and the risks associated with a shift to a lower-carbon economy. She addressed the topic with more than 100 finance leaders at an event hosted by Odgers in London.

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