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China to end Ant Group’s regulatory revamp with fine of at least $1.1 bln-sources

China to end Ant Group’s regulatory revamp with fine of at least $1.1 bln-sources

by AIP Online Bureau | Jul 7, 2023 | International News, Regulation

Jack Ma,founder, Ant Group The penalty, which would be one of the largest ever fines for an internet company in the country, will help pave the way for the fintech firm to secure a financial holding company license, seek growth, and eventually, revive its plans for a...

Odisha EOW detects ‘rarest’ QR code manipulation scam of Rs 14 crore; interrogation suggests Chinese link

by AIP Online Bureau | Jul 7, 2023 | Indian News, Risk Management, Technology

“On verification of the UPI logs, it came to light that Karan Singh and Lallu Singh allegedly manipulated the QR Codes generated by the complainant company and embezzled the extra credit of Rs 14.33 crore,” said Inspector General of EOW JN Pankaj...

GST Council likely to exempt IGST on cancer drug import, Multi Utility Vehicles to be taxed at a higher rate

by AIP Online Bureau | Jul 7, 2023 | Eco/Invest/Demography, Indian News, Policy

With regard to rates, the fitment committee has recommended to the Council to define Multi Utility Vehicles (MUV) or multipurpose vehicles or crossover utility vehicles (XUVs) at par with the Sports Utility Vehicles (SUVs) for levy of a 22 per cent compensation cess...

Rare brain infection caused by free-living amoebae reported in Kerala, says govt release

by AIP Online Bureau | Jul 7, 2023 | Health, Indian News

Doctors said the human brain gets infected when the free-living, non-parasitic amoebae bacteria enter the body through the nose Alappuzha: A case of a rare brain infection caused by a free-living amoebae living in contaminated waters was reported in the coastal...

ChatGPT-maker OpenAI says it is doubling down on preventing AI from ‘going rogue’

by AIP Online Bureau | Jul 7, 2023 | Facts, Technology

“The vast power of superintelligence could … lead to the disempowerment of humanity or even human extinction,” OpenAI co-founder Ilya Sutskever and head of alignment Jan Leike wrote in a blog post “Currently, we don’t have a solution for...

UN climate alliance scraps emissions rules for insurers after exodus

by AIP Online Bureau | Jul 6, 2023 | Climate, Environment, Renewable Energy, Eco/Invest/Demography, International News, Non-Life, Reinsurance

Under the NZIA’s “Target-Setting Protocol” published in January, insurance members had until the end of July to publish emissions targets for 2030 using recommended types of targets and were then required to update on their progress annually The Net-Zero...

General insurance industry’s premium grows 15% to Rs 20,457 cr in June

by AIP Online Bureau | Jul 6, 2023 | Indian News, Non-Life

Twenty multiline private sector general insurers, led by ICICI Lombard General Insurance, have seen their premium soaring by 17 per cent y-o-y to Rs 10,776 crore in June while during Q1FY2023-24, it has surged by 21 per cent y-o-y to Rs 34,212 crore Four public sector...
Per plate food cost in India inched up in past two months: Crisil report

Per plate food cost in India inched up in past two months: Crisil report

by AIP Online Bureau | Jul 6, 2023 | Data, Eco/Invest/Demography

The per plate cost of veg and non-veg thali in India, which has been on a decline since October 2022, nosed up in May and June 2023, according to Crisil Market Intelligence and Analytics report. Crisil’s monthly indicator of food plate cost said that soaring...

by AIP Online Bureau | Jul 6, 2023 | Workplace/Employee Benefits

Sensex, Nifty end at new record closing highs on unabated foreign fund inflows

Sensex, Nifty end at new record closing highs on unabated foreign fund inflows

by AIP Online Bureau | Jul 6, 2023 | Eco/Invest/Demography, Indian News, Wealth Management/ Philanthropy

“Foreign investors continue to provide unwavering support to the domestic market, helping to sustain the ongoing rally despite weak global cues. Global markets are displaying a negative trend, influenced by hawkish Federal Open Market Committee (FOMC) minutes...
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