German insurer Allianz is insurance partner for the Games. Other...
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Singapore Reinsurers’ Association announces new executive committee for 2024-2025,unveils its new logo
The new members of the SRA are-Cindy Foo from Berkley Insurance...
Houthis intensify attacks on merchant ships, send drone boats packed with explosives into the Red Sea
Insurance industry sources said that additional war risk premiums,...
China-backed projects in Africa face fierce backlash from environmentalists
“There is no doubt that Chinese commercial actors … have tried to evade environmental requirements,” said Yun Sun, director of the China programme at the Stimson Centre in Washington.
Meanwhile, a senior fellow at Duke University’s Nicholas Institute, said Beijing was not unaware of the potential risks involved with private and state-owned firms operating in belt and road countries.
“Reducing these risks requires more uniformly applied standards and practices on environmental and social issues by China’s outbound actors, which is likely to come only via coherent policy requirements from the top down,” he said.
90 institutional investors sue Nissan over Ghosn’s financial misconduct cases
According to the complaint, the investors who have traded Nissan stocks through financial institutions since June 2011 argue that Nissan stock prices plunged after the company’s then Chairman Ghosn and Greg Kelly, a former Nissan executive, were arrested by Japanese prosecutors in November 2018 for underreporting Ghosn’s remuneration by billions of yen in financial reports over multiple years.
The investors maintain that Nissan could easily have forecast a drop in stock prices due to damaged trust in the company’s accounting and corporate governance if the incident was reported by news media.
Big oil may get more climate lawsuits after Shell ruling -lawyers, activists
There are about 425 pending climate lawsuits in various countries and about 1,375 lawsuits in U.S. courts, according to the Sabin Center for Climate Change Law at Columbia Law School. The U.S. cases target the industry, while most cases in other jurisdictions take aim at governments.
X-Press Pearl loss will add to insurers’ container ship headaches
Insurers will face hull and machinery, cargo and liability claims, although there is still much uncertainty about the size of the loss. The vessel itself was only three months old; it is unclear how much the hull was insured for and which company insured it.
Rob Hawes, head of marine at loss adjuster Crawford & Co. estimated that the cargo loss could be between $30 million and $50 million, based on the X-Press Pearl’s 2,700 container capacity and an assumption that a container houses an average of $15,000 to $20,000 of goods.
B1617 variant spreading worldwide at ‘frightening speed’: Experts
“What is frightening is the speed at which this variant is able to spread and circulate widely within the community, often surpassing the capability of contact-tracing units to track and isolate exposed contacts to break the transmission chains, a Professor Teo Yik Ying, Dean of the National University of Singapore’s (NUS) Saw Swee Hock School of Public Health, was quoted as saying.
“It has the potential to unleash a bigger pandemic storm than the world has previously seen,” Ying added.
UK in early stages of 3rd wave of coronavirus, warns Indian-origin scientist
Professor Ravi Gupta of the University of Cambridge, who is a member of the government’s New and Emerging Respiratory Virus Threats Advisory Group (Nervtag), said although new cases were “relatively low” the B.1.617 variant of the COVID-19 had fuelled “exponential growth”, the BBC reported.
On Sunday, the UK reported more than 3,000 new COVID infections for a fifth day in a row. Prior to this, the UK had not surpassed that number since April 12.
Biden budget sets aside $750 mln for SolarWinds response
The money comes on top of a $500 million fund for federal cybersecurity as the U.S. government recovers from the cyber attack that hit nine agencies including the State Department and Treasury.
The hack of information technology company SolarWinds, which was identified in December, gave access to thousands of companies and government offices that used its products. Microsoft President Brad Smith described the attack as “the largest and most sophisticated attack the world has ever seen”.
UK could make COVID-19 jabs compulsory in healthcare, minister says
“It would be incumbent on any responsible government to have the debate, to do the thinking as to how we go about protecting the most vulnerable by making sure that those who look after them are vaccinated,” he told Sky News.
Nuclear flash cards: US secrets exposed on learning apps
“By simply searching online for terms publicly known to be associated with nuclear weapons, Bellingcat was able to discover cards used by military personnel serving at all six European military bases reported to store nuclear devices,” wrote Foeke Postma, the author of the Bellingcat article.
South Asia crosses 30 million COVID-19 cases as India battles second wave
The South Asia region – India, Bangladesh, Pakistan, Bhutan, Nepal, Maldives and Sri Lanka – accounts for 18% of global cases and almost 10% of deaths. But there is growing suspicion that official tallies of infections and deaths are not reflecting the true extent of the problem.