Articles by Sudarshan Varadhan

Fire at Indian Firecracker Factory Kills at Least 12, Police Report

At least 12 people were killed in a fire at a firecracker factory in the southern Indian state of Tamil Nadu last Friday, police said. Raja Narayanan, a regional police official, said an investigation was under way into what caused …

India Investigator Recommends Moving S. Korea-Owned Plant After Gas Leak

CHENNAI/SEOUL – An investigation into a deadly gas leak at a South Korean-owned chemical plant in southern India that killed 12 people in May recommended the factory be moved away from inhabited areas, according to its full report released on …

Sulphuric Acid Leak at Vedanta India Copper Smelter Could Damage Environment

Vedanta Ltd. said on Wednesday a sulphuric acid leak from a tank at its southern Indian copper smelter was severe and inaction could lead to serious environmental consequences. The district administration had said on Sunday the leak was minor, and …

India Cyber Bank Heist Used ‘Similar’ Methods to $81M Bangladesh Bank Hack

Hackers who tried to steal nearly $2 million from India’s City Union Bank this month used tactics similar to those employed in the unsolved cyber heist of $81 million from Bangladesh’s central bank in 2016, City’s CEO said on Monday. …

Update: AXIS Capital, PartnerRe Sweeten Deal with Higher Special Dividend

Specialty insurer and reinsurer AXIS Capital Holdings Ltd and PartnerRe Ltd agreed to sweeten the terms of their merger agreement to fend off a rival bid from Italy’s EXOR SpA. The companies agreed on Thursday to raise the special dividend …