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2:18 AM

Canada's Intact, Denmark's Tryg agree to buy British insurer RSA for $9.6 billion

Canada's Intact Financial and Denmark's Tryg on Wednesday said they had reached an agreement to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) in cash in one of Europe's biggest financial takeovers this year.

Insurers have become an attractive proposition since the coronavirus crisis despite reputational damage from disputes over business interruption claims, industry sources say. Home-working has led to fewer claims on home and motor insurance while commercial insurance rates have risen sharply.

RSA's directors backed the Intact-Tryg bid unanimously and recommended shareholders vote in favour of the consortium's offer, the company said on Wednesday, having first flagged the approach early this month.

1:55 AM

Ericsson takes issue with Swedish ban on Huawei : Report

Sweden's decision to ban China's Huawei from its 5G networks restricts free competition and trade, the head of rival telecoms equipment supplier Ericsson told the Financial Times. Swedish telecoms regulator PTS this month halted 5G spectrum auctions after a court suspended parts of its decision that had excluded Huawei from 5G networks over national security risks.

"I belong in that category that believes competition makes us longer term a better company. It may be painful shorter term but longer term it drives us to be more innovative and make better products for our customers," Ericsson CEO Borje Ekholm told the newspaper. Sweden's Ericsson has won contracts from all three major operators in China to supply radio equipment for 5G networks, while Finnish rival Nokia has not won any 5G radio contracts in the highly competitive market.

Huawei denies being a national security risk and has appealed against Sweden's decision.

1:38 AM

Delhi govt may introduce new tax reforms, enforcement measures in near future: Sisodia

The Delhi government may introduce new tax reforms and enforcement measures in the near future, Deputy Chief Minister Manish Sisodia said on Wednesday after signing of an MoU with the Centre for Effective Governance of Indian States (CEGIS) for a study on measures to augment state revenue.

The study aims to help improve governance and public service delivery in Delhi while making tax compliance easy, Sisodia, who is also the finance minister, said.

11:49 PM

Kerala Government to approach the Supreme Court challenging the high fee structure set by self-financing medical colleges

11:05 PM

IndiGo resumes over 650 weekly flights to and from Uttar Pradesh

IndiGo on Wednesday said it has resumed more than 650 weekly flights to and from Uttar Pradesh. The low-cost carrier has resumed operations from four cities in Uttar Pradesh -- Lucknow, Varanasi, Prayagraj and Gorakhpur, it said in a release. "The airline witnessed highest air travel demand from Lucknow which is directly connected to 13 domestic destinations, including new direct flights to Indore and Raipur.

"In addition, IndiGo also operated approximately 300 Vande Bharat and Air Bubble flights connecting UP with Dubai, Doha, Sharjah, Jeddah, Kuwait, Dammam, Riyadh and Abu Dhabi," it said. According to the release, the airline is currently operating over 650 weekly flights, including the regional connectivity scheme routes, to and from the cities of Lucknow, Varanasi, Prayagraj and Gorakhpur.

8:57 PM

Delhi's air quality deteriorates to 'poor', no significant change likely

Delhi's air quality deteriorated marginally and was recorded in the "poor" category on Wednesday as a change in the wind direction increased the share of stubble burning in the city's pollution slightly.

 

The city's air quality index (AQI) was recorded in the "moderate" category in the morning. However, pollution levels increased by a bit as the day progressed. The 24-hour average AQI stood at 211. It was 171 on Tuesday.

 

An AQI between zero and 50 is considered "good", 51 and 100 "satisfactory", 101 and 200 "moderate", 201 and 300 "poor", 301 and 400 "very poor", and 401 and 500 "severe". Weather experts and government agencies said no significant change was likely in the next three to four days. READ ON...

8:44 PM

Bengaluru riots: NIA conducts searches at 43 locations, including at SDPI offices

The NIA conducted searches here on Wednesday, including at offices of the Social Democratic Party of India (SDPI), the political wing of the Popular Front of India (PFI), in connection with the rioting and violent attacks on police stations in the city in August, an official said.

 

The searches were carried out at 43 locations in Bengaluru, including at four offices of the SDPI, in relation to the rioting and violent attacks on the D J Halli and K G Halli police stations in Bengaluru on August 11, a National Investigation Agency (NIA) spokesperson said.

 

The cases pertain to large-scale rioting, causing injuries to police personnel, destruction of public and private property, including the police stations' buildings and public and private vehicles, he said, adding that the rioters were armed with lethal weapons.

8:37 PM

NGT raps Haryana govt for using forest land to build police training centre

The National Green Tribunal Wednesday rapped the Haryana government for using forest land todevelop a police training centre at Bhondsi in Gurgaon. A bench headed by NGT Chairperson Justice Adarsh Kumar Goel directedChief Secretary of Haryana to take appropriate remedial action in accordance with law within three months, including meaningful legal action against the erring officers and ensuring that such illegalities are not repeated.

 

There is blatant violation of law in using forest land for non-forest purposes without requisite prior clearance. No State governed by rule of law ought to shut its eyes to such patent illegalities, the bench said.

 

The tribunal was perusing a report filed byPrincipal Chief Conservator of Foreststhat there is no negligence on the part of the forest officers as correspondence was pending on the subject at different levels. READ ON...

8:25 PM

98% rape accused in Delhi close relatives, acquaintances of victims: Police to parliamentary panel

Almost all of those accused of rape knew their victims, Delhi police told a parliamentary panel on Wednesday. Making a presentation before the Parliamentary Standing Committee on Home Affairs on the heinous crime and the relationship between victims and accused, police said 98 per cent of rape victims in the national capital were either close relatives or acquaintances of the accused.

 

Along with the Delhi Police, officials of the Ministry of Home Affairs and the Ministry of Women and Child Development deposed before the panel, headed by Congress MP Anand Sharma, sources said.

 

The agenda of the panel's meeting was rising crime against women. In 44 per cent of the total rape cases in Delhi, the accused were from victim's family or a family friend, 13 per cent were relatives and 12 per cent neighbours, Delhi Police said.

8:14 PM

Sasikala pays Rs 10 crore fine, release expected; TN CM says AIADMK will be away from her

A fine of over Rs 10 crore imposed on late Chief Minister J Jayalalithaa's aide V K Sasikala in a disproportionate assets case was on Wednesday deposited in a Bengaluru court and her release is expected soon, her lawyer said.

 

Chief Minister K Palaniswami, meanwhile, asserted that the anticipated release of Sasikala would not alter the stand of AIADMK to keep her and her kin at bay, both from the party and the government.

 

There shall be no change in the party stand as regards Sasikala, he told reporters at Coimbatore. The fine amount of Rs 10,00,10,000 was remitted to the 34th City Civil Court, Bengaluru, by way of demand drafts, Sasikala's counsel N Raja Senthoor Pandian said.