''The trend towards the financialisation of assets in India is...
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Germany is launching a six-month trial of 4-day work week from Feb 1
A six-month programme starting from Feb 1 will grant a day off...
Hong Kong court orders property firm China Evergrande to liquidate after plan for $300B debt fails
China Evergrande Group is one of the biggest of a series of Chinese...
AXA XL receives green light for first Shanghai domiciled reinsurer
With a strong S&P A+ financial strength rating, AXA XL Re China will be the first reinsurance subsidiary domiciled in Shanghai and the first foreign-owned reinsurance subsidiary in China. It will provide non-life reinsurance in China.
Lloyd’s calls for state-backed ‘Black Swan’ reinsurance
The Black Swan cover could be used to ensure payments after catastrophes such as a cyber attack or solar storm destroying critical infrastructure, as well as for pandemics, Lloyd’s said in a report published on Wednesday.
“Our concern is you solve for pandemic and you don’t solve for the next disaster,” Lloyd’s Chief Executive John Neal told Reuters.
India deploys helicopter,12 drones to stop fast-spreading locusts
The Ministry of Civil Aviation has amended rules to allow state government officials to use drones at night, a step that experts have said may help neutralise the locusts.
The government had already been using specialist vehicles and fire engines for spraying operations in at least nine densely populated states in the north, centre and west.
The locust infestation has not caused significant damage so far because it has fallen in the lean season – the gap between the previous harvest and the next planting season. But some farmers have complained about crop losses in a few districts of the desert state of Rajasthan.
No return to pre-pandemic job levels in 2020 – ILO
The figures cover people who are working shorter hours, who are furloughed, have lost their jobs, or withdrawn from the labour force.
They reflect “worsening conditions”, especially in developing countries, the report said.
Some 93 per cent of workers still live in countries with some sort of workplace closures, it said.
BoE to review climate impact of corporate bond-buying after COVID crisis
The BoE has a 20 billion-pound corporate debt purchase target as part of its expanded bond-buying programme to help shield Britain’s economy.
Bank of England Governor Andrew Bailey said the crisis had not changed the BoE’s commitment to combating climate change.
G Srinivasan panel to study suitability of Surety Bond issuance by Indian insurers
Currently, Surety Bond for contractors is not being offered by insurance companies in the Indian market to guarantee satisfactory completion of a project by a contractor and providing performance security to various government agencies,
Due tothe COVID 19 pandemic and consequent economic impact on liquidity and cash flow issues in the Indian Banking sector, the Ministry of Road Transport and Highways (MORTH), Government of India, has requested to examine possible offering of Surety Bondby the general insurance companies.
From Parkinson’s to peanut allergy, pandemic puts brakes on new drugs
Neurocrine Chief Executive Kevin Gorman said in an interview that many neurologists had been redirected to fighting the pandemic, leading to delaying Ongentys until later in 2020. The delay to Palforzia, Aimmune’s sole approved drug, means the company will not generate any revenue until later this year, prompting it to halt new hires in a bid to preserve its $370 million of cash.
Emerging market inflows increase ninefold in June -IIF
Debt flows accounted for $23.5 billion of total, while Chinese equities attracted some $6.1 billion, the data on non-resident flows showed.
Equities outside of China reversed an outflow trend to see net inflows of $3.4 billion.
Emerging Asia was the region that attracted the most flows last month with $17.1 billion, while Latin America, with $7.3 billion, came second.
Millions at risk in Bangladesh as monsoon floods add to coronavirus worries
“The disaster is worsening by the hour, with several hundred thousands already severely affected by the floods, worsening the COVID pandemic and crisis in the country,” said Antony Balmain, a spokesman for the International Federation of Red Cross and Red Crescent Societies.
Bangladesh had 149,258 confirmed coronavirus cases as of Wednesday, with 1,888 deaths.
Digital risks continue to be the most significant threats to business:FERMA Survey
Digital risks continue to be the most significant threats to business in the short (12 months) and medium-term (3 years). Cyber threats are the number 1 risk in both time frames, and data theft and fraud are growing in importance and stand at number 4 in the short term.
Uncertain economic growth appears as the number 2 threat short term (12 months) and number 3 medium term (3 years).