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DFC provides $50 million in new political risk insurance to expand War Insurance for Ukraine business
The facility will create a portfolio of war risk insurance policies...
Lloyd’s revamps its data, operations and change departments, opts for outsourcing
Lloyd’s oversees a market of nearly 50,000 underwriters and brokers...
India briefs Climate Advisory Group about Infrastructure for Resilient Island States
India's Permanent Representative to the United Nations, TS Tirumurti further said that the Infrastructure for the Resilient Island States (IRIS) initial corpus is USD 50 million IRIS, a dedicated initiative, will provide technical support on the multifaceted issues...
World’s top banks pumped $742 bln into fossil fuels in 2021 – report
Most leading banks have pledged to reach net-zero emissions across their financing by 2050. But, despite the International Energy Agency saying no new oil and gas fields should be developed for the world to hit its climate goals, the report showed finance continues to...
With war next door, EU is warned on cybersecurity gaps
Cyberattacks against EU bodies are increasing “sharply,” with major incidents jumping more than tenfold between 2018 and 2021, according to the Luxembourg-based ECA Brussels: The warning by the European Court of Auditors covers the wide range of EU bodies — from the...
Blockchain project Ronin hit by $615 million crypto heist
Hacks have long plagued crypto platforms. The cryptocurrency arm of Jump Trading said last month it had restored more than $320 million to crypto platform Wormhole after the decentralised finance site was hit with one of the largest crypto heists on record Blockchain...
Chubb buys DUAL’s Asian Financial and Cyber business
Chubb will be purchasing the business assets including intellectual property in the form of wordings and underwriting models from DUAL in both Hong Kong and Singapore Over the last 13 years DUAL Asia has grown organically, in partnership with MSIG, into a Financial...
Global leasing companies had until Monday to sever ties with Russian carriers under Western sanctions imposed over Moscow’s invasion of Ukraine, but executives say only a fraction of the more than 400 jets directly involved have been returned Russia’s airline...
Maersk warns Shanghai city lockdown to boost transport costs further
A survey conducted by a state newspaper found Shenzhen's "war" on COVID-19 has hurt up to 93% of local small and medium-sized companies, with many suffering production disruptions because of shutdowns, interruptions in supply chains, and delays in order executions...
Russian tankers going dark raises flags on sanctions evasion
As more countries and businesses shun commerce with Russia, the country’s fleet will be under pressure to conduct dark activity and even engage in illicit shipping to stay afloat, said Ian Ralby, chief executive of I.R. Consilium, a maritime law and security...
Irish lessors terminated all Russian airline leases: ALI
Brussels gave lessors until Monday to wind up current rental contracts in Russia under tough sanctions imposed after Moscow’s invasion of Ukraine, leaving them facing heavy potential writedowns or a long insurance battle All Irish lessors terminated their Russian...
China examines black boxes of crashed jet, looking for more plane debris
“Large-scale air crash investigations that only rely on data provided by the black boxes are often insufficient to tell the full truth of the incident,” Zhu Tao, head of the aviation safety office at Civil Aviation Administration of China, told a press conference...