The “massive and unforeseen” presence of jellyfish in the filter...
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Emirates to ban use of power banks aboard its flights
The airline said the “significant growth” in customers using power...
Nigeria insurance stocks gain most in almost 20 yrs on new law
The law, approved by Nigeria’s President Bola Tinubu, which makes...
New COVID variant EG.5.1 spreading quickly in UK: Report
"We continue to see a rise in COVID-19 cases in this week's report. We have also seen a small rise in hospital admission rates in most age groups, particularly among the elderly. Overall levels of admission still remain extremely low and we are not currently seeing a...
Swiss Re net income surges off low catastrophe-linked losses
In its key property and casualty business, Swiss Re booked $634 million in large natural catastrophe losses in the first half from the earthquake in Turkey and Syria, Cyclone Gabrielle, and flooding in New Zealand. All are events that occurred in the first quarter...
Big central banks hike again with end of tightening in sight
Upcoming decisions are on a knife-edge. Pausing too early could cause financial conditions to loosen too fast, re-igniting inflationary pressures. Stopping too late could trigger a credit crunch and a recession. So far, nine developed economies have raised rates by a...
Ukraine weighs possibility of insuring ships going via ‘grain corridor’ – Interfax-Ukraine
Ukraine is considering the possibility of insuring ships going through the “grain corridor,” news agency Interfax-Ukraine reported on Thursday, citing Prime Minister Denys Shmyhal. “Now we are discussing in the government and, I am sure, we will make a decision on...
Europeans lack insurance protection as wildfires and drought batter the region
When it comes to disaster response, the ECB sees insurers as the first line of financial defense, backed up by reinsurers and the financial markets with instruments like catastrophe bonds. The global market for catastrophe bonds, which give insurers a payout when a...
Ratings firms struggle with climate risk in $133 trillion market
As the world reels from the mounting impact of heat waves, droughts and fiercer storms, there is growing concern that credit rating analysts are misreading climate risks in the $133 trillion global bond market, to the detriment of creditors and borrowers alike For...
France’s AFP sues Musk’s X social media, cites refusal to discuss payment for news
France in 2019 enacted a copyright rule dubbed “neighboring rights” that compels large online platforms to open talks with publishers seeking remuneration for news.“Agence France-Presse has expressed its concerns over the clear refusal from Twitter (recently rebranded...
Beijing records heaviest rainfall in at least 140 years, causing severe flooding and 21 deaths
The severity of the flooding took the Chinese capital by surprise. Beijing usually has dry summers but had a stretch of record-breaking heat this year China`s capital has recorded its heaviest rainfall in at least 140 years over the past few days. The city recorded...
Insurance ‘AAA’s unaffected by U.S. downgrade, financial conditions key risk: Fitch
Ratings for these U.S. insurers and the broader sector could face pressure if U.S. fiscal and governance deterioration contributes to a negative scenario of heightened capital market volatility and/or a more severe economic downturn The 'AAA' Insurer Financial...
1 in 5 companies in Vietnam are prepared against major risks: WTW survey
“What our study has shown is an urgent need to bridge the protection gap in risk impact and its financial implications, and consequentially, to enhance risk preparedness across organisations. This is especially important for a market like Vietnam, one of the most...