International carriers’ operations to Dubai are growing but some...
Category:
International News
Latest
Houthis escalate pressure, Announce planned maritime blockade of Saudi Arabia
A disruption to supplies through the Red Sea, the route currently...
Red Sea war insurance costs rise after Houthi blockade, sources say
Indicative war risk premiums rose to around 0.75% of the value of...
Allianz unit to cut up to 1,800 jobs in AI-driven overhaul
The cuts, which they expect to take the forms of severance agreements, early retirements and similar options, will amount to between 1,500 to 1,800 positions across Europe, the unit’s chief executive officer Tomas Kunzmann said at an event late Tuesday in Munich....
War insurance rates for ships rise after renewed vessel attacks in Strait of Hormuz
In the past 24 hours, war insurance rates for ships inside the Gulf have already ticked higher towards 3% of the value of a vessel from 2% at the end of last week, said the sources, who declined to be named due to the sensitivity of the matter. Some war underwriters...
Trump says interim accord to end war is ‘over’ after Iranian strikes
In a flare-up of hostilities that pushed oil prices up to a two-week high, Iran said it had targeted U.S. military sites in Bahrain and Kuwait after U.S. forces struck Iranian targets in response to attacks on tankers in the Strait of Hormuz. Ankara: U.S....
AI investment to cushion global insurance slowdown amid geopolitical turmoil: Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist, said,"The latest Middle East conflict is not a one-off shock but another sign that geopolitical risk has become a structural feature of the global economy with four supply shocks in six years. As economies invest in AI...
Attack on Qatari LNG vessel in Hormuz challenges US mediation
Three separate attacks on ships would mark the highest number since the US and Iran signed an interim peace deal last month, underscoring the continued risks to ships crossing through Hormuz. Tehran has repeatedly said it won’t allow vessels to transit the waterway...
Banks’ exposure to heat-related losses faces scrutiny in EU
Heat-related damage tends to be less straightforward to measure than losses caused by floods and wildfires, the EBA said. For now, the next stress test measuring European bank resilience will focus on flood risk. The process, which extends into 2027, will be handled...
Financial services AI dangers highlighted by regulator’s review
Regulators globally have begun to focus more keenly on the impact of AI, from cyber and operational risks associated with frontier AI models such as Anthropic’s Mythos to the challenges posed by the agentic systems capable of acting with limited human intervention....
Trump says there will either be a deal with Iran or US will ‘finish the job’
Donald Trump,President .US "We're either going to make a deal or we're going to finish the job. OK. And it won't be tough to finish the job. I'd rather make a deal, because I don't want to affect 91 million people," Trump told reporters in the Oval Office....
Google loses final appeal against €4.1 billion EU antitrust fine
The Android fine was imposed in 2018, a year after the Commission fined Google €2.42 billion ($2.77 billion) for using its shopping comparison service to gain an unfair advantage over smaller rivals. Google lost an appeal against that in 2021. Alphabet’s Google last...
Europe faces prolonged heatwave amid rising fire and electricity risks
Climate change is intensifying periods of extreme heat on the fastest-warming continent. The record-breaking heat and drought have fueled the worst start ever to the global wildfire season, with climate scientists warning that a developing El Niño could bring even...