A previous goal of $100 billion per year, which expires in 2025,...
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10 most climate-vulnerable countries got less than $1 year climate finance: Report
The data also shows the 10 countries most affected by climate...
World already on cusp of 1.5 degree celsius temp rise, finds new research
Every extra increment of heat risks worsening climate impacts like...
Insurance costs of shipping through Black Sea soar
Ship insurers have quoted the additional premium rate for seven days at anywhere between 1% to 2% and up to 5% of insurance costs, from an estimated 0.025% on Monday before Russia's invasion began, according to indicative rates from marine insurance sources This would...
As climate change wreaks havoc globally, IPCC report flags ways to adapt
"The growth in climate impacts is far outpacing our efforts to adapt to them," UNEP chief Inger Andersen warned this month. She urged nations, cities, businesses and individuals to turn adaptation efforts "into a sprint". BARCELONA: From Madagascar, where hunger is...
Swiss Re appoints Paul Murray as CEO Reinsurance Asia and Regional President
Paul Murray, CEO Reinsurance Asia, Regional President Swiss Re’s Group Chief Executive Officer Christian Mumenthaler said: “We are pleased that Russell Higginbotham has accepted this new important position, driving forward our Reinsurance Solutions strategy. This is a...
Airline industry shifts attention to Russia risks after Ukraine closure
As airlines assessed the airspace risks, they have also been hit by a spike in oil prices to more than $105 per barrel for the first time since 2014 as a result of the conflict. That raises operating costs at a time when travel demand remains low because of the...
Cyberattacks accompany Russian military assault on Ukraine
Officials have long expected cyberattacks to both precede and accompany any Russian military incursion. The combination of DDoS attacks, which bombard websites with junk traffic to render them unreachable, and malware infections hewed to Russia's playbook of wedding...
UK to ban Aeroflot airline in ‘largest package’ of Russian sanctions
The “largest and most severe package” of economic sanctions against Russia tabled in the House of Commons includes a full asset-freeze of Russian state-owned bank VTB and powers to allow the UK to exclude Russian banks from Britain's financial system. London: Prime...
Global finance grapples with Ukraine crisis as shares slump
But in what will be a relief to Europe's banks, the EU is unlikely at this stage to take steps to cut off Russia from the SWIFT global interbank payments system, several EU sources said. European banks are most exposed to Russia, especially in France, Italy and...
Russia-Ukraine conflict raises big risks for global economy
Stocks have tumbled in anticipation of higher rates and a potential downturn. Market benchmarks in Europe and Asia fell by as much as 4% on Thursday, while Wall Street futures retreated by an unusually wide daily margin of 2.5%. Financial markets could grow even more...
2021, the most challenging year yet for cyber insurance market: Aon’s Asia Market Review
Organisations with better ability to tolerate risk, and with well-articulated submissions to the market, will have the competitive edge when it comes to accessing insurance coverage, said the report Cyber Threat: Insurance premiums and retentions increased sharply...
GIC sued for $115 million by AM Re for cancellation of agreement
'GIC disputes the allegations of the complaint and will address claims at the appropriate time in the litigation. Beyond that, GIC has no comment on the allegations or claims asserted in that proceeding as the matter is pending adjudication before the US Courts,' the...