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Indian
Maha unveils new EV policy, sets 10 pc share in total registrations by 2025
”The policy has some ambitious targets. Electric vehicles must comprise at least 10 per cent of total vehicles registered by 2025. We also want to achieve 25 per cent EV share in public transport in Mumbai, Pune, Nagpur, Aurangabad and Nashik. It includes converting 15 per cent of the MSRTC fleet into EVs by 2025. We also intend to make Maharashtra the top producer of battery driven EVs in India in terms of annual production capability,” Singh said.
Banks explore option of invoking personal guarantee of promoters
According to an estimate, top 10 personal guarantors have guaranteed debt of over Rs 1.6 trillion. Among the big names, former promoters of Bhushan Steel and Power Sanjay Singhal and his wife Aarti Singhal had furnished personal guarantees worth up to Rs 24,550 crore to take loans from a consortium of bank led by State Bank of India (SBI).
Govt sets up Asset Reconstruction Company to free up banks for credit push
The firm was registered as the National Asset Reconstruction Company Ltd. on July 7 with Padmakumar Madhavan Nair as the managing director, according to filings with the Registrar of Companies, where firms must register before becoming operational.
NARCL’s paid-up capital is Rs 74.6 crore ($10 million), according to the filing. Nair previously worked at the State Bank of India where he handled stressed assets resolution.
CMs of north-eastern states share concerns regarding Covid with PM
While all CMs have put forth their preparedness plans to deal with third wave and acknowledged that cases are on the decline, Mizoram CM Zoramthanga did speak about problems the state is facing due to the porous border with Myanmar and Bangladesh and cases are coming across the border. Union Home minister Amit Shah too was present at the meeting.
International
Rhine river shipping faces another historic shutdown as drought hits water levels
Reflecting a trend seen in the Himalayas, the Rockies and other mountainous regions of the world, alpine glaciers have shrunk steadily as global warming makes melting in summer outpace accumulation of snow in winter. That means there’s less water feeding rivers each year. An April study by ETH Zurich predicts that half of the Alps’ glaciers could disappear within three decades.
Cost of Norsk Hydro Cyber attack higher than expected at nearly $75 million
The attack is now estimated to have cost 250-300 million crowns [$28.9 million-$34.6 million] in the second quarter, compared with an earlier estimate of 200-250 million crowns [$23.1 million-$28.9 million]. Including the first quarter impact, the total cost of the attack is set to be 550-650 million crowns [$63.5 million-$75.0 million].
Natural disasters cause a $73bn global economic loss,Insurance payouts totalled around $20bn in 1H 2019
According to the report, there were an estimated 163 natural disaster events in 1H 2019, which was below the 18- average of 180 and the median of 182. There were at least 17 separate billion-dollar economic events in 1H 2019 – led by the United States and Asia Pacific (APAC) with six events each; Europe, Middle East and Africa (EMEA) with four events, and the Americas with one event.
Equifax’s $700 million data breach settlement includes $300 million for consumers
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