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Insurers increasingly tap AI to tackle surging Cat losses
Risk experts are increasingly using AI to crack an especially...
Ravaging South Korea wildfires kill 24 people
“We need to mobilize all available resources in extinguishing the...
EU drops plan to stop tankers moving Russian oil anywhere, to disallow insurance of shipments
But current proposals will nevertheless make life considerably harder for Moscow, assuming they are adopted. The ban on providing insurance would span the vast majority of the global fleet of oil tankers seeking to transport Russian barrels Tanker companies insure...
UAE to introduce unemployment insurance in latest economic reforms
Insured workers would receive some money for a limited time period if made unemployed, UAE Prime Minister and Vice-President Sheikh Mohammed bin Rashid al-Maktoum, who is also the ruler of Dubai, said on Twitter, citing a cabinet decision Dubai: The United Arab...
China strives for global dominance through seaport control
The experts pointed out that, of the 96 ports owned by Chinese companies around the world, several are at key locations for maritime trade, "giving Beijing strategic dominance without having to deploy a single soldier, ship or weapons." It is estimated that China now...
China’s population declined in 10 provincial-level regions in 2021
According to the seventh nationwide census of 2020, China's population on the mainland has grown by 0.53 per cent annually on average in the past decade. China's population reached 1.41 billion as of the end of 2021, up by 480,000 from the previous year, according to...
Nigeria first nation to stop domestic flights as fuel costs soar
The war has caused massive disruption to energy markets with Russian feedstocks used to produce jet fuel and diesel becoming untouchable for many parts of the world. China has also cut its oil product export quota, limiting supplies. The loss of 3.2 million barrels a...
Dubai Aerospace Writes Off $538 Million, files insurance claims on planes tied to Russia
Aircraft lessors have been caught up in the international response to Russia’s invasion of Ukraine. The Kremlin has blocked the repossession of planes as required by sanctions, stranding roughly 400 jets that had been leased to Russian companies. The Middle East’s...
Financial firms face $225 billion in water-related losses, analysis estimates
The U.N. has warned of a 40% shortfall in supply by 2030 if water consumption and production patterns do not change and so-called water risk, through flood, drought or pollution, is set to become a growing issue for companies over the next decade By underestimating...
EU citizens may sue countries for health-damaging dirty air, top court adviser says
The opinion concerns a case brought by a Paris resident seeking 21 million euros in compensation from the French government, on the grounds that air pollution damaged his health and the government failed to ensure compliance with EU limits BRUSSELS: Citizens in...
Nearly 15 million deaths directly or indirectly linked to COVID-19
“The United Nations system is working together to deliver an authoritative assessment of the global toll of lives lost from the pandemic. This work is an important part of UN DESA’s ongoing collaboration with WHO and other partners to improve global mortality...
White House to boost support for quantum technology while boosting cybersecurity
The memorandum offers a road map to federal agencies to update their information technology systems to help defend against complex quantum attacks, establishing goals and milestones. It also establishes a working group between the public and private sectors to...