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GenAI reshaping fraud prevention strategies in India- Experian Insight report
Shail Deep, Chief Operating Officer (COO), Experian EMEA & APAC...
Dismantling DEI- Many businesses in Europe and Asia stand firm on diversity initiatives
US President Donald Trump In jurisdictions from the UK and the EU...
Prepare for the next pandemic, says WHO scientist
“We’ve seen time and time again that products developed in high income countries take decades to find their way to low income countries. This has happened with influenza pandemics, with HIV, and with hepatitis B vaccines.
It took 30 years for hepatitis B vaccines to get to developing countries and that’s exactly the reason why COVAX [the UN-led scheme to distribute two billion COVID-19 vaccines to mostly poorer countries] was set up, to make sure that as vaccines get developed, that there’s also equity in access.
Swiss Re announces ambitious climate targets; accelerates race to net zero
Swiss Re’s Group Chief Executive Officer Christian Mumenthaler said: “Climate change remains the biggest challenge we face as a society. The stakes are high and require immediate attention. Signing up to net-zero emissions by 2050 and setting concrete climate targets are important first steps. What needs to follow now is action. We are moving ahead in all areas of our business to accelerate the transition towards net zero.“
10 Years After Nuclear Disaster, How Dangerous Is the Fukushima Plant?
The plant’s operator, Tokyo Electric Power Co., says the tsunami couldn’t have been anticipated, but reports from government and independent investigations and recent court decisions described the disaster at the plant as human-made and a result of safety negligence, lax oversight by regulators and collusion.
India uses digital banking and biometrics to organize its 1.3 billion population
The digital network is now the lynchpin for most of India’s social security and cash transfer programs — which had been notorious for corruption and unreliability. Today, the government uses JAM’s direct benefit transfers for 317 programs. It made 2.6 billion transactions in the current financial year, getting more than $46 billion to beneficiaries. The cumulative value of the transfers since the first programs started in 2013 stands at more than $195 billion.
Brazil’s COVID Crisis Is a Warning to the Whole World, Scientists Say
No other nation that experienced such a major outbreak is still grappling with record-setting death tolls and a health care system on the brink of collapse. Many other hard-hit nations are, instead, taking tentative steps toward a semblance of normalcy.
GIFT City: Modi’s plan to make a Singapore in Gujarat has fallen flat
In hosting an international financial center, Singapore stole a march over rival Hong Kong, where the bankers were initially against more competition. But it wasn’t tall buildings that made the experiment a success. A freely convertible currency, pragmatic regulation, a stable tax regime, rule of law and speedy dispute resolution played a huge role. (Good schools and pubs helped, too.)
Covid-19 Pandemic:Tracking an Unprecedented Year for Businesses
Nearly every business in the world has been affected by COVID-19—in different ways. While one-fourth of the companies saw sales falling 50 percent in the last quarter, a third of firms said their sales increased or stayed the same in the period.
To capture the impact of the pandemic on firms’ performance, the World Bank launched ongoing surveys with more than 120,000 firms in over 60 countries. The assessment is expected to help inform recovery efforts.
Developing countries have introduced multiple support programs, but businesses most affected by the shock—small firms and those in poorer countries—were the least likely to receive government support.
Crises are nothing new to small enterprises in developing countries.
“Significant improvement in climate-related disclosure of Insurers”
Bronwyn Claire, Senior Programme Manager for ClimateWise said,“We’ve seen significant progress being made by members in the incorporation of climate change considerations into investment and underwriting strategies demonstrating growing strategic commitment to corporate and societal resilience to climate change.”
Rising Risk of Cyber-attack on Industrial Sector:Lloyd’s Report
Cyber-attack risks have previously been considered unlikely to materially impact the physical market, with cyber perils traditionally emerging in the form of non-physical losses. However, the report looks at how physical risks have become a rapidly growing concern for industrial businesses as shown by recent high-profile breaches. As bridges are increasingly being built between information technology (IT) and operational technology (OT), along with increases in automation and sophistication of threat actors, it is paramount that (re)insurers carefully consider where major losses may occur.
Insurers play waiting game amid push for post-Brexit Solvency II equivalence
Under Solvency II equivalence, the EU would recognize a non-EU country’s solvency regime as producing comparable outcomes to its own, meaning less regulatory scrutiny. The Solvency II directive extends equivalence in three areas: reinsurance, solvency calculation and group supervision.