The floods this year are considered worse than those experienced in...
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Strong earthquake kills at least 280 in Afghanistan
Most of the confirmed deaths were in the eastern Afghan province of...
Assam flood situation critical, CM reviews state of affairs
The state has been reeling under devastating floods for the past...
Hong Kong to give big cash handouts as economy reels from virus
Last week Hong Kong’s government announced an HK$30 billion relief fund for those hit hardest by the virus outbreak, including cash handouts for businesses like restaurants and travel companies.
Markets are overreacting to threat of Coronavirus: Allianz CEO Baete
“There’s a lot of panic at that moment that’s not warranted,” said Baete. “Short-term economic activity will contract and it will have an impact on global GDP, but it’s not like the world will end tomorrow.”
Climate Risk:Singapore prepares itself with $72B Defense Plan
The idea is to make sure each generation contributes a fair share, without burdening future generations, said a spokesperson from the Ministry of Environment and Water Resources. With no hinterland to retreat to, Singapore has no choice but to invest long term to meet the impacts of climate change, the spokesperson said.
Global recession likely if coronavirus becomes pandemic: Moody’s Analytics
“COVID-19 is battering the global economy in numerous ways. Chinese business travel and tourism has all but stopped; global airlines are not going to China and cruise lines are cancelling most Asia-Pacific itineraries. This is a huge problem for major travel destinations, including in the US, where some 3 million Chinese tourists visit each year,” Moody’s Analytics said.
US expands its reinsurance program,transfers $400 mn in flood risk to capital markets
As part of the agreement, FEMA will pay $50.28 million in premiums for the first year of reinsurance coverage. Additionally, the agreement will cover 3.33 percent of losses for any single flood event with losses between $6 and $9 billion, and 30 percent if that same flood event has losses that rise to $9 to $10 billion.
WHO warns of pandemic risk after coronavirus peaks in China
The situation is worsening in other countries, with more than 2,000 cases and 30 deaths reported abroad, prompting a raft of restrictions on travellers from infected nations.
Coronavirus fears drive up credit risk for Gulf crude exporters
The United Arab Emirates on Tuesday suspended all flights to and from Iran due to the spread of the coronavirus in the Islamic republic, while Kuwait, Bahrain and Oman reported their first cases this week.
Dow plunges over 800 points as coronavirus cases spike outside China
On Monday, fears that the coronavirus outbreak in China will grow into a pandemic with disruptive and deadly consequences for countries across the globe spooked most equity markets. The virus, which has killed 2,442 people in China, has reportedly spread to 28...
Seoul worst hit as Asia markets plunge on virus worries
“While the coronavirus is probably slowing in China, it is speeding up elsewhere,” Charles Gillams, at RJMG Asset Management, said. “Its impact on Chinese business is already deep. So, whether that has a one economic quarter impact — of some severity — or is a bigger issue remains unclear and indeed we won’t know for while.”
Washington pledges $1 billion for coronavirus vaccine as pandemic risks grow
The White House said more than $1 billion of the requested virus budget would go toward developing a vaccine, while other funds would be used for therapeutics and the stockpiling of personal protective equipment such as masks.