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Ships fleeing the Red Sea now face perilous African weather
Storms near the African coastline are playing havoc with the key...
Insurers hike rates as extreme storms like Beryl proliferate
Global insurance giant Swiss RE expects the broader sector’s return...
Covid-19: Delta variant ‘poised to take hold’ in Europe, warns WHO
During a press briefing on Thursday, WHO’s Dr Hans Kluge said the variant also known as the delta variant, has shown signs of being able to evade some vaccines and warned that many vulnerable populations, particularly those over age 60, remain unprotected.
UK Prime Minister Boris Johnson on Thursday warned that COVID-19 cases and hospitalisations are “very clearly” on the rise in the country and that he continues to assess the vaccination data to decide on whether to end all lockdown measures by June 21.
EU cautions against rushing into bloc-wide pandemic insurance
Governments in Britain and the United States have also been discussing government-backed pandemic reinsurance schemes, but industry sources say progress is slow as countries continue to grapple with the current pandemic.
Emerging risks set to shape a post-COVID-19 world:Swiss Re
COVID-19 to worsen income inequality; growth in the global middle class slowed and poverty levels rose in 2020
• Government support programmes have kept alive unviable zombie companies, leading to increased credit and financial market risks
• Electric vehicles and other decarbonised means of transport can
cut up to 24% of current C02 emissions from fuel combustion
Global media websites, including NYT, FT, CNN face outage
Dozens of high-traffic websites including the New York Times, CNN, Twitch and the UK government’s home page were down. Agencies could not immediately confirm the issue affecting the sites.
San Francisco-based Fastly acknowledged a problem just before 1000 GMT. It said in repeated updates on its website that it was “continuing to investigate the issue.”
Global insurance industry faces IFRS 17 costs estimated at $15 to $20 bn:Willis Towers Watson
Kamran Foroughi, Global IFRS 17 Advisory Leader at Willis Towers Watson, said: “This is an extraordinary figure that will naturally lead to many questions from Boards and investors.
“For many, significant improvements will also be required in business processes and finance operations to deliver IFRS 17 efficiently and link with other metrics. With smart investment and the right people, an insurer’s IFRS 17 programme has the potential to help deliver long-term annual savings to show against the daunting up-front costs.”
Global crackdown on organised crime after high-tech U.S.-Australia sting
The operation, which was conceived by Australian police and the FBI in 2018, saw officials in the United States take control of the ANOM messaging app, which is popular with organised crime networks.
When an Australian underworld figure began distributing customised phones containing the app to his associates as a secure means to communicate, police could monitor their messages. The gangs believed the system was secure because the phones did not have any other capabilities – no voice or camera functions were loaded – and the app was encrypted.
US to treat growing ransomware incidents as terror attacks
Christopher Wray, Director of the FBI, told The Wall Street Journal that the country is facing a similar challenge like 9/11, and the Bureau has identified about 100 different types of ransomware, several of them being traced to Russia.
“There are a lot of parallels, there’s a lot of importance, and a lot of focus by us on disruption and prevention. There’s a shared responsibility, not just across government agencies but across the private sector and even the average American,” Wray told WSJ on Saturday.
US announces $57 mn aid for TB treatment in seven high-burden countries
Countries for which the aid is being given are India, Bangladesh, Indonesia, the Philippines, South Africa, Tajikistan and Ukraine.
The USAID said alongside COVID-19, TB is the leading infectious disease killer, particularly in low and middle-income countries, sickening 10 million people and taking 1.4 million lives every year.
Willis Towers Watson collaborates on world-first insurance protection for endangered Mesoamerican Coral Reef
The Mesoamerican Barrier Reef System is listed as critically endangered by the IUCN Red List of Ecosystems and is home to 65 species of coral and more than 500 species of fish, as well as many other protected marine species. Coastal wetlands, lagoons, mangrove forests, and seagrass beds also protect against storms and coastal erosion.
China permits Ant Group to operate a consumer finance company
In December, the People’s Bank of China instructed Ant Group to develop a rectification plan, and in April, it approved a series of steps. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank. While that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issue