The sexual molestation liability (SML) product will also cover...
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Jellyfish shut French nuclear reactors as heat wave builds
The “massive and unforeseen” presence of jellyfish in the filter...
Emirates to ban use of power banks aboard its flights
The airline said the “significant growth” in customers using power...
Financial inclusion appears to be positively correlated with per capita income growth: IMF
IMF said, "For example, the launch of the Pradhan Mantri Jan Dhan Yojana programme in India in 2014, one of the world's largest financial inclusion initiatives to date, is one prominent example of India's national-level commitment to advancing financial inclusion."...
JPMorgan sued by Ray-Ban maker unit over cyber theft
Essilor Manufacturing (Thailand) Co., which operates a plant in Thailand for EssilorLuxottica SA, sued the bank in April in federal court in New York, claiming JPMorgan was aware of a pattern of fraudulent transactions that led to the theft and failed to notify the...
China COVID data shows no new variant but under-reports deaths, WHO says
Global unease has grown about the accuracy of China's reporting of an outbreak that has filled hospitals and overwhelmed some funeral homes since Beijing abruptly reversed its "zero COVID" policy Data from China shows no new coronavirus variant has been found there,...
South Korea fines Tesla $2.2 mln for exaggerating driving range of EVs
The Korea Fair Trade Commission (KFTC) said that Tesla had exaggerated the "driving ranges of its cars on a single charge, their fuel cost-effectiveness compared to gasoline vehicles as well as the performance of its Superchargers" on its official local website since...
Jan1Renewals: Reinsurers hike rates on key business lines by as much as 200%, exclude Russia and Ukraine
Aviation reinsurance rates, heavily impacted by hundreds of stranded aircraft in Russia, rose by as much as 200%, Gallagher Re said. “The sector is experiencing its most acute, cyclical price increases since the 2001-2006 period, if not before,” said David Flandro,...
Why China’s latest Covid wave has sparked global panic
Beijing: China is experiencing a huge Covid-19 surge after years of hardline containment restrictions were dismantled last month. A growing number of countries are worried about a lack of data and transparency surrounding China's outbreak. Here is why it is sparking...
Jan1 renewals: Rapid changes in market conditions prompt tense and late but largely completed renewals: Gallagher Re
James Kent, Global CEO, Gallagher Re, said, “The renewal process has been grueling for participants, many of whom have not faced such a rapid change in market conditions across a single renewal season. Political violence renewals have been especially demanding in...
Japan insurers to maintain cover for LNG vessels in Russian waters
The insurance companies negotiated with reinsurers to replace part of the coverage and they are expected to enable continued insurance, Nikkei reported on Thursday After renegotiating with UK reinsurers, a total of 30 billion yen ($224 million) is expected to be...
Recession will hit a third of the world this year, warns IMF chief
Kristalina Georgieva, managing director, International Monetary Fund The year 2023 will be tougher than last year because the economies of the US, the EU and China will slow down, she said. ''Even in countries that are not in recession, it would feel like a recession...
Russia outlines plan for ‘unfriendly’ investors to sell up at half-price
The term "unfriendly" describes countries that have imposed sanctions on Russia in response to its military intervention, including members of the European Union, the United States, Japan, Canada, Britain and Australia A bill that would have enabled authorities to...