Is China catching up to the US and SpaceX on reusable rockets?

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The next space race is not about making rockets faster, bigger or more capacious, but about reusing them reliably and cheaply. The US is well ahead, but can China catch up?

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Ready to collaborate and work with India on shared priorities: EU envoy

European Union (EU) is ready to collaborate and work with India on shared priorities, EU's Ambassador to India, Jean-Eric Paquet, said on Friday. Paquet presented his credentials to President Droupadi Murmu at an official ceremony held at the Rashtrapati Bhavan in New Delhi on Friday."Honoured to present my credentials to the Hon’ble President of India, Smt. Droupadi Murmu. There is a strong momentum across trade, defence, security, Research and Innovation. Proud to represent EU in India at such an exciting time. Ready to collaborate and work on shared priorities," he stated after the ceremony.Describing the EU-India Strategic Partnership as "one of the most defining relationships of the 21st century", Paquet stressed its role in shaping global economic, technological, and geopolitical dynamics."With unprecedented momentum across trade, defence and security, research and innovation, it is an honour to represent the European Union in India at such a transformative juncture. Our shared agenda is not merely aspirational, it is a tangible commitment to future generations, one that will drive job creation, innovation," Paquet said.Emphasising the strategic convergence between India and the EU, Paquet said, "Our cooperation extends beyond bilateral ties- it has global significance, particularly in ensuring stability across the broader Indo-Pacific region. The EUâ€"India Security and Defence Partnership agreement will further strengthen defence industrial cooperation and advance alignment on defence initiatives."Paquet said that the EU and India are "not just partners" but "architects of a shared future." He stated that India and EU will together translate ambition into action, delivering prosperity, security, and sustainability for the people and the world at large.Jean-Eric Paquet's tenure as EU's Ambassador to India begins as ties between both sides enter a decisive phase, with significant advancements in several sectors, including the Free Trade Agreement (FTA).Paquet is a seasoned diplomat and policy architect with over 30 years of public service within the European Union’s institutions, according to the EU's statement. Prior to joining in New Delhi, he served as Ambassador of the European Union to Japan (2022â€"2026). Previously, he held key roles such as Director for the Western Balkans in the European Commission and the EU's Ambassador to Mauritania (2004â€"2007).

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World2h ago

LIC MD Dinesh Pant's request for voluntary retirement approved

The Central government has approved the premature retirement of Dinesh Pant as Managing Director of Life Insurance Corporation of India, with the change taking effect from the date of issue of the order on September 24, an official statement said.The notification, issued by the Finance Ministry's Department of Financial Services (DFS), said the Central Government "approves premature termination of appointment of Dinesh Pant as Managing Director (MD), Life Insurance Corporation of India with effect from the date of issue of this notification on account of his retirement on a voluntary basis."Pant's exit from LIC comes months after the DFS named him a Whole-Time Member at the Insurance Regulatory and Development Authority of India (IRDAI). The appointment announced in mid-June this year is for a term of five years or until he turns 65, whichever is earlier. Pant had taken over as LIC's Managing Director on June 1, 2025, with a term originally slated to run till May 2027.Pant has more than three decades of experience spanning actuarial services, investments, product development and international operations at LIC, including a period during which he headed the company's Kenya operations. As Appointed Actuary, he was part of the key management team that steered LIC's 2022 initial public offering and its subsequent growth strategy. He is a fellow of the Institute of Actuaries of India and the Institute and Faculty of Actuaries, UK.LIC's board currently includes R. Doraiswamy as CEO & MD, alongside Ratnakar Patnaik as another Managing Director. With Pant's departure, the corporation may see fresh appointments to its management team. The government notification issued on Thursday does not name a successor.Pant joins the IRDAI at a time when the regulator has proposed major reforms in the insurance distribution framework which include a simpler three-tier architecture aimed at lowering costs for policyholders, increasing transparency and strengthening safeguards against widespread mis-selling.The IRDAI consultation paper points out that base commission no longer reflects the true cost of insurance distribution, pointing out that additional payments such as promotional expenses, brand fees, and rewards increase total payouts by 30 per cent to 60 per cent above base levels.Under the proposed new norms, insurers and large distribution entities will have to disclose their commission policies and structures in a simple and accessible manner. Specified commercial policies will also carry commission disclosures, enabling customers to be aware of the distribution costs built into the pricing. The consultation paper also proposes tighter measures to curb mis-selling and compulsory bundling of insurance with other financial products.

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