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Govt approves changes to EC Act, permits farmers to sell produce freely

The Union Cupboard on Wednesday permitted amendment to the six-a-and-half ten years aged Critical Commodities Act to deregulate food items products, together with cereals, pulses and onion, a move that will transform the farm sector and enable increase farmers’ revenue.

The Cupboard also permitted ‘The Farming Create Trade and Commerce (Marketing and Facilitation) Ordinance, 2020’ to ensure barrier totally free trade in agriculture generate.

The govt also permitted ‘The Farmers (Empowerment and Defense) Agreement on Rate Assurance and Farm Products and services Ordinance, 2020’ to empower farmers to engage with processors, aggregators, wholesalers, substantial merchants and exporters.

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Prudential to Sell South Korean Insurance Business

Prudential Financial announced it has reached an agreement to sell Prudential Life Insurance Company of Korea to Korean financial services provider KB Financial Group for approximately 2.3 trillion Korean won ($1.9 billion).

Prudential Life Insurance was the eleventh-largest insurer in the South Korean market with $17.1 billion in assets last year. The deal is expected to help KB Financial overtake its rival Shinhan Financial Group and become the ninth-largest player in the market.

“Creation of synergy effects will depend entirely on their management strategy,” NH Investment & Securities analyst Boram Cho said.

Prudential hired Goldman Sachs to explore a possible

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