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Israel’s ship industry urges government to help with jump in war insurance
The finance ministry said subsidizing the cost of additional war...
New Swiss rules set to overhaul $20 billion bond market
There are nearly $20 billion of subordinated notes that Swiss...
One nation, one ration card: Centre makes standard format, asks states to follow it for issuing fresh cards
For national portability, the state governments have been asked to issue the ration card in bi-lingual format, wherein besides the local langauge, the other language could be Hindi or English.
Crisis looms as debt wave sweeps developing nations, warns World Bank
After declining during the 2008 global financial crisis, amid very low borrowing costs in just eight years since 2010, debt in these countries climbed to an all-time high of roughly 170 per cent of GDP or about $55 trillion.
Global cat insured losses from natural and man-made catastrophes fell 40% to $ 56 bn in 2018: Swiss Re
Climate change is leading to more frequent and more severe secondary peril events, which manifest in different ways: more local flooding, torrential rains,prolonged drought, severe wildfires and other extreme weather events. Together, secondary perils are estimated to comprise more than 50% of this year’s global insured losses from natural catastrophes, demonstrating once again the very significant impact these events can inflict on societies.
Financial Action Task Force cautions financial institutions on dealings with North Korea
The FATF remains concerned by theNorth Korea’s failure to address the significant deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) regime and the serious threats they pose to the integrity of the international financial system. The FATF urges the DPRK to immediately and meaningfully address its AML/CFT deficiencies.
Boeing to halt production of the risky 737 Max from January
After the two crashes, prosecutors, regulators and two congressional committees are investigating whether Boeing overlooked safety risks and played down the need for pilot training in its effort to design, produce and certify the plane as quickly as possible.
India should take urgent action to tackle air pollution: WHO
The study also noted that the average life expectancy would have been 1.7 years higher if the pollution levels were less than the minimal level responsible for causing health loss
FinMin asks govt depts/agencies to continue to bank with IDBI
LIC is wholly-owned by the government and together with the government’s holding of 46.46 percent, the direct and indirect government holding in the bank is 97.46 percent, making it a quasi-sovereign entity.
UK Financial Services sector remains resilient ahead of Brexit: Research
Britain’s financial sector wants the EU to grant at least some form of basic access to the bloc after the transition ends, though more than 300 banks, insurers and asset managers have opened hubs in the bloc in case this does not happen.
Regulator weighs halting Japan Post Insurance sales – Nikkei
Japan Post is conducting an internal investigation after discovering thousands of cases of improper sales. Once the probe is concluded, Japan Post Insurance has said it will consider imposing punishments such as disqualifying insurance agents who violated the law or internal rules.
Hong Kong financial firms fear potential Beijing interference in contracts
Hong Kong’s vaunted rule of law is widely seen as a major factor for global financial institutions that make the former British colony their regional home and using it as their main trade and other dispute resolution center.