The island plays an outsized role in the global chip supply chain...
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Andreas Berger to succeed Christian Mumenthaler as group CEO of Swiss Re from July 1
Andreas Berger, group CEO designate, Swiss Re Jacques de Vaucleroy,...
Strong earthquake strikes Taiwan, tsunami waves detected in Japan
Taiwanese television showed buildings in Hualien shaken off their...
Musk’s Tesla electrifies bitcoin with $1.5 billion bet, car payments pledge
Analysts said it could help accelerate a move for bitcoin move towards the mainstream that has seen both Paypal, also co-founded by Musk, and huge global money manager BlackRock move to accept the currency.
Central banks remain skeptical of digital currencies, but analysts say the more real world uses appear for bitcoin, the more attractive it will prove as a long-term store of value.
Exxon unveils carbon-removal tech venture in green image push
The move comes as Exxon looks to burnish its environmental credentials as it engages in a proxy fight with hedge fund Engine No. 1, which is attempting to appoint candidates on the oil company’s board and push toward a more renewables-focused future.
The oil major said it would invest $3 billion on lower-emission solutions through 2025, by which time it plans to reduce the intensity of its oilfield greenhouse gas emissions by 15%-20% from 2016 levels.
South Korea unveils $43 billion plan for world’s largest offshore wind farm
The project is a major component of President Moon Jae-in’s Green New Deal, initiated last year to curb reliance on fossil fuels in Asia’s fourth-largest economy and make it carbon neutral by 2050.
“With this project, we are accelerating the eco-friendly energy transition and moving more vigorously toward carbon neutrality,” Moon said at the event.
The envisaged 8.2 GW amounts to the energy produced by six nuclear reactors, or the effects of planting 71 million pine trees, officials said.
22 countries have requested India for supply of Covid-19 vaccines: Health minister
“We have received requests for vaccine supply from 22 nations so far. Out of these, supply has already been made to 15 nations as grant assistance as well as contract doses. As of February 2, a total of 56 lakh doses has been given as grant assistance and 105 lakh as contracts doses,” the minister said.
80 countries including India, Sri Lanka and Pakistan on Thursday criticised the European Union for its recent decision of introducing export controls on Covid-19 vaccines.
China to launch public platform to track, crack down on polluters
Polluting enterprises are obliged to install monitoring equipment and keep at least five years of data, with fines of 200,000 yuan ($31,000) for those that fail to do so. Fines of 1 million yuan can be imposed on firms that pollute without permission.
According to the environment ministry, the new information platform will allow authorities and members of the public to monitor real-time emission levels and check historical data in order to determine whether rules are being breached. It is set to come into effect on March 1.
Allianz to acquire full ownership of China life insurance venture
“Allianz has been pursuing the 100% ownership of our life entity since the opening up measures were announced by the government in 2019,” Sergio Balbinot, chairman of Allianz (China) Insurance Holding Co, was quoted saying in the company statement.
Allianz will leverage its global management experience, advanced digital technology and brand value, to provide professional and comprehensive life insurance for a growing number of customers in China, it said.
U.N. chief names Michael Bloomberg climate envoy to rally action
The media mogul will support Guterres in “growing and strengthening” a coalition of governments, companies, cities and businesses committing to net-zero emissions by 2050 in line with the goals of the 2015 global climate deal struck in Paris, the United Nations said.
Asian commercial insurance pricing up 11% in 4th Quarter:Marsh
Asian clients with large CAT exposures and those requiring international capacity continued to experience double-digit pricing increases.. Casualty pricing remained generally flat, as it has for three years.
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Unequal allocation of vaccines could cost the world economy $9.2 trn
“With the virus mutating, no country is safe until the whole world is inoculated and achieves herd immunity,” said Chua Hak Bin, senior economist at Maybank Kim Eng Research Pte in Singapore.
US insurance industry M&A deals total $4.57bn in Q4 2020:GlobalData
The US held a 56.6% share of the global insurance industry M&A deal value that totalled $8.08bn in Q4 2020.
In terms of deal activity, the US recorded 73 deals during Q4 2020, marking a rise of 46% over the previous quarter and a rise of 69.8% over the last four-quarter average.