The researchers from the Global Burden of Disease (GBD) 2021...
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World’s super-rich club now has 15 members with fortunes over $100 billion
The combined net worth for these people is up 13 per cent this year...
Norway sovereign wealth fund excludes Adani Ports from over ethical concerns
Norges said it decided to exclude Adani Ports due to "unacceptable...
Shipping companies may not get insurance claims for’ lost expenses’ incurred from Suez closure chaos
Ships typically have various types of insurance, including protection & indemnity (P&I) for pollution and injury claims. Separate hull and machinery policies cover vessels against physical damage.
“Both exclude loss of earnings,” Claudio Blancardi, underwriting director with ship insurer Nordic Marine, said.
World leaders call for international pandemic treaty
But there are few details to explain how such an agreement might actually force countries to act more cooperatively.
Suez Canal blockage adds to pressure points in global trade
About 12% of global trade by volume goes through the Suez Canal, but it accounts for 30% of the world’s daily shipping container freight. That makes it the most important conduit for trade between Europe and Asia. Some 19,000 vessels passed through the canal last year, according to official figures.
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.