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WHO launches Patient Safety Rights Charter at Global Summit
“Everyone, everywhere, has the right to safety as a patient. The...
World Bank and IMF meetings fail to finalise a concrete plan for climate finance
Rich countries are expected to raise more than the $ 100 billion...
WHO report says animals likely source of COVID
The researchers listed four scenarios in order of likelihood for the emergence of the virus named SARS-CoV-2. Topping the list was transmission through a second animal, which they said was likely to very likely. They evaluated direct spread from bats to humans as likely, and said that spread through “cold-chain” food products was possible but not likely.
Suez Canal traffic resumes after stranded container ship freed
It remained unclear when traffic through the canal would return to normal. At least 367 vessels, carrying everything from crude oil to cattle, have piled up on either end of the canal, waiting to pass.
Data firm Refinitiv estimated it could take more than 10 days to clear the backlog of ships. Meanwhile, dozens of vessels have opted for the alternate route around the Cape of Good Hope at Africa’s southern tip — a 5,000-kilometer (3,100-mile) detour that adds some two weeks to journeys and costs ships hundreds of thousands of dollars in fuel and other costs.
Britain and EU strike financial services cooperation pact
So far, the EU has declined to grant any long-term direct access for financial firms from Britain, saying this week that it was in no rush.
“Overall, for investors in UK financial services, a greater degree of cooperation between Europe and the UK can only be seen in a favourable light,” said Alan Custis, head of UK equities at Lazard Asset Management.
Insurers come to Crypto’s wild west promising 50% plus returns
Now software developers are launching products that claim to reduce the risks by selling something akin to insurance coverage. But here’s the catch: They’re also DeFi apps.
Unlike insurance offered through the likes of Lloyd’s to custodians and large crypto exchanges, these apps — which run on digital ledgers called blockchains — let any investor buy coverage. They also allow anyone to form investment pools to provide coverage — often promising annual returns of at least 50%.
Ever Given ship in Suez Canal moved ‘80%’ in right direction
The MV Ever Given, longer than four football fields, has been wedged diagonally across the canal since Tuesday, strangling world supply chains and costing the global economy billions.
Suez Canal Authority (SCA) chief Osama Rabie said Monday that rescue efforts with tugs had succeeded in shifting the front and back of the ship.
Stranded Suez Canal ship re-floated, marine services firm says
At least 369 vessels were waiting to transit the canal, including dozens of container ships, bulk carriers, oil tankers, and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, SCA Chairman Osama Rabie told Egypt’s Extra News on Sunday. The ship’s technical manager Bernhard Schulte Shipmanagement (BSM) did not immediately respond to a request to comment.
Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions. Some shippers had decided to reroute their cargoes around the Cape of Good Hope, adding about two weeks to journeys and extra fuel costs.
Green Climate Fund chief urges reopening of U.S. finance tap
Glemarec told the Thomson Reuters Foundation from his base in South Korea that the fund had allocated a record amount at its board meeting last week.
It approved $1.2 billion for 15 new climate projects – from a private equity fund for green energy and transport in India to help for farmers in Micronesia to keep their food crops safe from extreme weather and rising seas. The board also green-lighted projects aimed at reducing emissions from forests in the Republic of Congo and protecting Cuba’s coastal ecosystems.
Suez Canal blockage could cost $6 bln to $10 bln in lost trade -Allianz
The study by Europe’s biggest insurer also found that each week of immobilisation shaves some 0.2 to 0.4 percentage points off annual trade growth.
“The problem is that the Suez Canal blockage is the straw that breaks global trade’s back,” the study’s authors wrote.
Insurer CNA hit by ‘Sophisticated’ cyber attack
Upon learning of the incident on March 21, the insurer said it immediately engaged forensic experts to investigate and determine the full scope of this incident. That investigation is ongoing.
Aviva sells Polish business to Allianz for $2.9 billion
Allianz, which first entered the Polish market in 1997, ranks as Europe’s biggest insurer and while it has no plans to grow its life insurance operations, it sees the deal as a springboard to further expand across lucrative central and eastern European markets, sources told Reuters.
Aviva’s boss Amanda Blanc has been selling assets at pace to focus on the life and general insurer’s core businesses of Britain, Canada and Ireland. Aviva also has joint ventures in China and India.