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Indian

Govt asks ministries to target 20% reduction in controllable expenditure

However, expenditure related to containment of the pandemic is excluded from the scope of this order.

The memorandum said, ministries should aim to control expenditures like overtime allowance, rewards, domestic and foreign travel, office expenses, rents, rates and taxes, royalty.

Indian court deals blow to Amazon, Walmart’s Flipkart in antitrust case

Abir Roy, a lawyer for the Indian trader group Delhi Vyapar Mahasangh, told Reuters the judge’s decision effectively paves the way to restart the investigation against Amazon.com Inc and Walmart’s Flipkart , which has been on hold since February 2020.
When the competition watchdog ordered its investigation, it listed four alleged anti-competitive practices. These were exclusive launches of mobile phones by the e-commerce firms, promoting preferred sellers on their websites, deep discounting practices and prioritising some seller listings over others.

Chances of 3rd wave quite real, Delhi govt preparing on war-footing: CM

Indications are coming from the UK on the fear of the third wave. Cases are rising there, despite 45 per cent of vaccination. So, we cannot afford to sit idle, he said.Kejriwal was speaking at an online event during which he jointly inaugurated 22 new PSA oxygen plants at nine hospitals across Delhi.

”These new oxygen plants at nine hospitals across Delhi being added today to strengthen our preparations to fight Covid,” he said.

Aspirational Districts outperform non-ADs in pushing development in India: UNDP

The report, which includes a comparison of Aspirational Districts (ADs) with non-aspirational districts, indicates that ADs have outperformed non-ADs by substantial margins, given the increased focus through monitoring real-time data, convergence across government programmes and schemes, and receiving the benefits of the Aspirational Districts Programme.
The ADP(Aspirational Districts Programme) was launched by the India’s Prime Minister, Narendra Modi in 2018, with the objective of expediting the transformation of 112 most backward districts across 28 states through convergence across government departments. 

International

Swiss Re makes digital side-bet as premiums languish

“It means the whole value chain is under significant pressure…Costs have become much more important over the last years and for the foreseeable future, so there will be continual pressure on costs, and not just for Swiss Re.”

PIMCO launches new Insurance-Linked Securities business in partnership with Allianz

PIMCO will work in partnership with its parent, Allianz, to source global catastrophe risk in the form of collateralized reinsurance and other structured investments, while maintaining independent underwriting and portfolio construction procedures.  This differentiated approach will also give PIMCO the flexibility to source risk from the open market in an effort to deliver attractive risk-adjusted returns for clients.

Music team joins Miller to grow music and entertainment offering

“We are really pleased that Martin, Holly, Rose and Pam are now on board. Bringing a team of this calibre to Miller can only be of great benefit to our clients. Their knowledge of the music industry and insurance market will enable us to hit all the right notes with our offering to parties in the music and entertainment sector,”

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