Under the laws, that came into effect on Monday,employers face...
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US Fed Chair Powell says ‘time has come’ for policy adjustment, hints at rate cut
US Federal Reserve Chair Jerome Powell Speculation has abounded...
OMAC is hull insurance carrier for sunken yacht in Sicily
The global yacht insurance market has faced significant challenges...
New compensation offer made over Suez canal blockage
The Suez Canal Authority (SCA) demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue, before publicly lowering the request to $550 million.The Ever Given’s Japanese owners Shoei Kisen and its insurers have disputed the claim and the ship’s detention under an Egyptian court order.
India receives $64 bn FDI in 2020, fifth largest recipient of inflows: UN
The pandemic boosted demand for digital infrastructure and services globally. This led to higher values of greenfield FDI project announcements targeting the ICT industry, rising by more than 22 per cent to USD 81 billion.
Major project announcements in the ICT industry included a USD 2.8 billion investment by online retail giant Amazon in ICT infrastructure in India.FDI inflows to developing Asia grew by 4 per cent to USD 535 billion in 2020, making it the only region to record growth and increasing Asia’s share of global inflows to 54 per cent. In China, FDI increased by 6 per cent to USD 149 billion.
Major corporate polluters lag on setting climate goals
And while many of the 250 companies have set targets for 2050, only 27 – or 11% – have laid out shorter-term plans to make major cuts by 2030, according to the data, compiled from corporate reports and other public disclosures.
This refers to reductions to their biggest source of emissions, often from the use of their products, or so-called Scope 3 emissions.
Climate on agenda as Biden prepares to meet with top financial regulators
Biden issued an executive order in May pushing federal agencies to encourage full disclosure of often-hidden climate-related risks to banks, other financial institutions and the federal government.
Ransomware payment may be allowed tax deductible in US
The IRS, the US body for tax administration, offers no formal guidance on ransomware payments, but multiple tax experts interviewed by The Associated Press said deductions are usually allowed under law and established guidance. It’s a “silver lining” to ransomware victims, as some tax lawyers and accountants put it.
Ransomware has become a multibillion-dollar business, and the average payment was more than $310,000 last year, up 171% from 2019, according to Palo Alto Networks.
Gulf states will take at least 10 years to end oil dependence: Moody’s
Oil and gas accounts for over 20% of gross domestic product and at least 50% of state revenues for most Gulf countries.”If oil prices average $55/barrel … we expect hydrocarbon production to remain the single largest contributor to GCC sovereigns’ GDP, the main source of government revenue and, therefore, the key driver of fiscal strength over at least the next decade,” it said.
Putin says Covid trend is getting worse, Kremlin pushes the idea of revaccination
“Revaccination will be and is inevitable – not just vaccination, but revaccination – for those who want to keep themselves, their relatives and loved ones safe,” said Kremlin spokesman Dmitry Peskov . Russia saw 17,378 new cases on Monday and 440 deaths in the last 24 hours.
Pandemic ‘rolled back’ sustainable development funding for weak economies: UNCTAD
UN: According to UNCTAD’s World Investment Report 2021, total foreign direct investment also dropped by more than a third globally, to $1 trillion (from $1.5 trillion in 2019), threatening progress on sustainable development. This level was last seen in...
UN office says Sri Lanka ship fire causes significant damage
“An environmental emergency of this nature causes significant damage to the planet by the release of hazardous substances into the ecosystem,” U.N. Resident Coordinator in Sri Lanka Hanaa Singer-Hamdy said in a statement late Saturday. “This in turn threatens lives and livelihoods of the population in the coastal areas.”
Sri Lanka has already submitted an interim claim of $40 million to X-Press Feeders to cover part of the cost of fighting the fire, which broke out on May 20 when the vessel was anchored about 9.5 nautical miles (18 kilometers) northwest of Colombo and waiting to enter the port.
Too early to decide on Covid-19 booster shots:WHO
“We do not have the information that’s necessary to make the recommendation on whether or not a booster will be needed,” Soumya Swaminathan, the World Health Organization’s chief scientist, said in a Zoom interview Friday. The “science is still evolving.”