What a hike in foreign equity in insurance means

Andreas Milano

The Rajya Sabha recently passed a Bill to raise the limit on foreign equity participation from 49% to 74% in the insurance sector. Higher foreign equity participation will help insurers tide over solvency-related issues, increase competition and efficiency. Mint explains.

What is the rationale behind such a Bill?

Raising the limit on foreign equity participation in insurance means the caveat that such firms remain Indian-owned and controlled is now removed. This is expected to attract prominent global insurers to set up shop in India, which will take care of liquidity pressures. It will also help companies achieve growth and will

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Brazil’s biggest banks battle for reinvention in digital era

Andreas Milano

Brazil’s big banks had it good for years.

A small club of institutions dominates the high street in Latin America’s largest economy, long notorious for its costly banking fees and borrowing rates, with their fat margins often the source of public anger.

“Profits are enormous at the banks. They are really excessive,” was the verdict in 2019 by one politician — not a leftist firebrand, but the country’s pro-market economy minister, Paulo Guedes.

But as the oligopoly faces a trifecta of low interest rates, the economic impact of Covid-19 and digital upstarts snapping at their heels, lenders are under pressure

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Stolen Data of 533 Million Facebook Users Leaked Online

Andreas Milano
  • The personal data of over 500 million Facebook users has been posted online in a low-level hacking forum.
  • The data includes phone numbers, full names, location, email address, and biographical information.
  • Security researchers warn that the data could be used by hackers to impersonate people and commit fraud.
  • See more stories on Insider’s business page.

A user in a low level hacking forum on Saturday published the phone numbers and personal data of hundreds of millions of Facebook users for free online.

The exposed data includes personal information of over 533 million Facebook users from 106 countries, including over 32

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Strike Launches Bitcoin Lightning Payment App in El Salvador; Full EU Support Is Next

Andreas Milano

Bitcoin’s Lightning Network-powered Venmo, Strike, is now available in El Salvador, and its team is planning on a full rollout in Europe soon along with a feature which allows users to convert their paychecks into bitcoin.

The payment app, also described as a “neo bank” by founder Jack Mallers, goes live in the country today, according to a press release. This comes some months after Strike, the brainchild of Lightning developer Jack Mallers, opened up a beta to European Union, U.K. and Philippines residents. Strike released its beta in the U.S. eight months ago.

“Our decision to enter El

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CBD Business Opportunities You Must Try In 2021

Andreas Milano

With all that buzz and murmur about CBD in today’s world, its industry is booming. On this note, the wise minds planning on initiating a new venture are bending their minds towards it. Cannabidiol was proven to be a source of health enhancement for a long time. But now, it has become a leeway to an innovative and successful business.

By NANCY R. FERNANDEZ

As per sources, in the current year, the market size of CBD summed up to approximately USD 9.3 billion. Hence, you can already guess that this particular market trend is here to stay. There is

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Leading construction firm wins new high school project | Business Observer

Andreas Milano

BABCOCK RANCH — DeAngelis Diamond, one of the largest construction firms in the region, has been chosen to build the Babcock Neighborhood School High School, a 39,000-square-foot charter High School in Babcock Ranch.

The new high school will be connected to the existing Babcock Neighborhood School, which DeAngelis Diamond built in 2018, in conjunction with Studio+. The pair of firms will partner on the latest project, according to a statement. Highlighting flexible and adaptable spaces, the high school will feature 24 classrooms, academy support spaces, AICE labs and administrative support spaces, the release adds.

In addition to the high school,

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