India News

European Banks have $3.4 Trillion of Exposures to Emerging Markets

European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South Africa intensifies. The …

Insurance Leaders from India, Japan to Speak at Iowa Symposium

Keynote speakers at a global insurance symposium scheduled for May in Des Moines, Iowa, will include high ranking insurance officials from Japan and India. Gov. Terry Branstad says Japan’s Vice Commissioner Masamichi Kono and the chairman of India’s Insurance Regulatory …

India-Based Company Fined $77K for Amputation Hazards at Arkansas Plant

The U.S. Department of Labor’s Occupational Safety and Health Administration has cited Welspun Tubular LLC in Little Rock, Ark., for two safety and health violations for exposing workers to possible amputation hazards at its Little Rock facility. The proposed penalty …

India’s Battered Insurers May Need More than Foreign Investment

India’s proposal to allow more foreign investment in its $41 billion insurance business provides a lifeline for an industry starved of capital and squeezed by regulation – but it may not pass parliament and it may not be enough. India’s …

‘We’re an Attractive Place to do Business:’ Lloyds CEO Richard Ward

Following Lloyd’s release of its composite results for the first six months of 2012 – a £1.53 billion [$2.4 billion] profit – Lloyd’s chief executive Richard Ward was understandably pleased. In a telephone interview he explained that the figures are …

Commentary: Iran Confident It Is Winning Sanctions War

Despite ludicrous claims to the contrary, Western sanctions have hurt Iran’s crude oil exports, but it’s also not all gloom and doom. In unsurprising, but obviously factually incorrect, remarks, the director of international affairs at the National Iranian Oil Co. …

How Iran’s Main Oil Buyers Deal with Insurance Sanctions

Insurance companies based in the EU are not allowed to provide cover for ships that carry Iranian cargo. The EU sanctions are aimed at the protection and indemnity (P&I) clubs based in the EU, which dominate the marine insurance industry. …

Asia’s Iran Crude Oil Imports to Regain Levels Prior to EU Insurance Ban

Asia’s crude imports from Iran are set to recover in September to levels reached before a July 1 insurance ban by the European Union plunged trade with the Islamic Republic into uncertainty not seen in decades. Top Asian buyers — …

Insurance Deal Lets India Resume Shipping Iran Oil

India has joined Japan in offering government-backed insurance for ships carrying Iranian crude in order to bypass European sanctions that have nearly halved Iranian oil exports to key markets. The first Indian ship to carry oil from Iran with Indian …

India’s Basic Realities May Confound New Finance Minister’s Reform Agenda

The return of a pro-market reformer to India’s finance ministry has cheered investors and contributed to a market rally, but Palaniappan Chidambaram will need both political deftness and some luck to tackle the problems dragging the economy down. Faced with …