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Geopolitical conflict: Global economy could lose $14.5 trillion over a 5-yr period, says Lloyd’s
With more than 80% of the world’s imports and exports – around 11...
Beazley adds to its cyber capabilities with launch of ‘Beazley Quantum’
This new cyber consortium provides comprehensive cover for large...
Howden launches Parhelion, world’s first fully sustainable insurer
Against the backdrop of an insurance industry starved of truly sustainable capacity, Parhelion’s new and diversified ESG products will meet the risk financing needs of a greener economy.
The new business has been seeded by Howden and will match the surge in institutional capital seeking sustainable investment strategies with the growing demand from corporates looking for an insurance provider to support their journey towards ESG transition and a more resilient future.
At the end of 2020, over $40tn of assets globally were invested in ESG-aligned and sustainable impact strategies, nearly double the amount invested just four years earlier*, but very little has been deployed across the (re)insurance industry.
India launches global initiative for clean energy innovation
India among 23 governments collectively launched bold new plans to catalyze action and spearheaded a decade of innovation to drive global investment in clean energy research, development and demonstrations.
The goal is to make clean energy affordable, attractive and accessible for all this decade, to accelerate action towards the Paris Agreement and net zero pathways.
7 EU nations start issuing Covid certs
Travellers can move freely if at least one of these three criteria is met. Bulgaria, Czech Republic, Denmark, Germany, Greece, Croatia and Poland made the certificates available. The system would be used in all 27 EU countries as of July 1. NYT
India may grant indemnity to Pfizer and Moderna for launching their Covid-19 vaccines
In another key waiver, the drug regulator has done away with the requirement of India-specific trials for foreign vaccines approved by specific countries and WHO for emergency use.
No recovery in global jobs market from pandemic until at least 2023: ILO
Women, young people and the 2 billion people working in informal sectors have been hardest hit, with 108 million more workers worldwide now categorized as poor or extremely poor compared to 2019, it said.
Israel finds probable link between Pfizer Covid shot and heart inflammation
Most of the cases occurred in young men, especially those between 16 and 19 years old. In most cases, patients were hospitalized for four days or less, and in 95% of the cases were classified as mild, the ministry said.
Virus disaster leaves deep scars on India’s economy
Surging unemployment, coupled with state lockdowns, a large increase in hospitalizations and fatalities amid the second wave and fears of a third wave, are prompting many people to cut spending.
Meanwhile, sales of cars and motorcycles fell 30% in April over March and are expected to slump by over 60% in May as automakers including Maruti Suzuki and Hero MotoCorp halted production for several days amid rising infections. Dealerships remain closed.
Odisha pegs loss due to cyclone Yaas at Rs 610 crore
While the loss to the government properties was estimated to be Rs 520 crore, the calamity damaged private properties worth Rs 90 crore.
Economy:Emerging Bangladesh
Bangladesh’s growth rests on three pillars: exports, social progress and fiscal prudence. Between 2011 and 2019, Bangladesh’s exports grew at 8.6% every year, compared to the world average of 0.4%. The success is largely due to the country’s relentless focus on products, such as apparel, in which it possesses a comparative advantage.
Netherlands lifts ban on passenger flights from India starting June 1
“As per the Dutch Government ban on passenger flights from India that had come into force on April 26, 2021, has been lifted w.e.f 01 June 2021,” the India embassy here tweeted. However, there is still a European Union ban on non-EU travelers from countries where the coronavirus situation is considered very high risk.