In Asia, insurance capacity from Asian-based insurers remains very...
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Boeing settles lawsuits with two 737 MAX crash victims’ families
Boeing agreed in July to plead guilty to a criminal fraud...
Comments made by Warren Buffett on social media sites are false
While Berkshire didn’t describe the nature of the posts, the firm’s...
17 states weigh adopting California’s electric car mandate
Under the Clean Air Act, states must abide by the federal government's standard vehicle emissions standards unless they at least partially opt to follow California's stricter requirements. Among them, Washington, Massachusetts, New York, Oregon and Vermont are...
Pakistan: More than 6.4 million in ‘dire need’ after unprecedented floods
With 1.1 million houses washed away and vital infrastructure destroyed such as schools, UNICEF’s Representative in Pakistan, Abdullah Fadil, explained that “ 18,000 schools have been destroyed and thousands of schools are now fully shuttered… So that means children...
Soaring energy bills threaten to put six in 10 British manufacturers out of business
“The current crisis is leaving businesses facing a stark choice,” the report said. “Cut production or shut up shop altogether if help does not come soon.” London: Soaring energy bills are threatening to put six in 10 British manufacturers out of business, according to...
India overtakes Britain to become world’s fifth biggest economy
The IMF’s own forecasts show India overtaking the UK in dollar terms on an annual basis this year, putting the Asian powerhouse behind just the US, China, Japan and Germany. A decade ago, India ranked 11th among the largest economies Britain has dropped behind India...
South Korea is bracing for the strongest storm in the nation’s history
Hinnamnor is forecast to be even more destructive than Typhoon Sarah in 1959, according to the meteorological administration. That storm killed more than 600 people and injured 2,533, and caused 249 billion won ($180 million) in property damage, according to the...
G7 finance chiefs agree on Russian oil price cap but level not yet set
The cap would rely heavily on denying London-brokered shipping insurance, which covers about 95% of the world’s tanker fleet, and finance to cargoes priced above the cap. But analysts say that alternatives can be found to circumvent the cap and market forces could...
Globally majority of those impacted by floods uninsured: Swiss Re
This year heavy rains have triggered floods that inundated cities in China and South Korea and disrupted water and electricity supply in India, while drought has put farmers’ harvests at risk across Europe Insured losses from floods doubled to $80 billion globally...
Health ministers to discuss mental and primary health issues at WHO South-East Asia Region meeting in Bhutan
During a week-long annual governing body meeting starting from September 5 till September 9, where the health ministers and senior officials will deliberate on key issues including mental health through primary care and community engagement, strengthening health...
More than half of people in APAC still lack social protection, says new ILO report
The World Social Protection Report 2020–22: Regional companion report for Asia and the Pacific finds that only 44.1 per cent of the region's population have access to at least one social protection benefit. Looking at some specific benefits; only 45.9 per cent of new...
Pakistan could have averted climate catastrophe that has killed over 1,000
The infusion of $1.16 billion by IMF might help unlock enough cash to get the country through the next couple of years — but the floods themselves have caused more than $10 billion of damage, much of which will end up boosting the country’s $255 billion in debt. If...