On a short-term horizon of two years, the report identified...
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Biden administration to unveil contractor rule that could upend gig economy
The rule replaces a Trump administration regulation that said...
Japan issues improved emergency measures following fatal plane collision at Haneda airport
The measures — including more visible stop line markings on...
‘Food is the best vaccine against chaos’; U.N. food agency WFP wins Peace Nobel
“There is an estimate within the World Food Programme that … there will be 265 million starving people within a year, so of course this is also a call to the international community not to underfund the World Food Programme.”
WFP runs a logistics service that has dispatched medical cargoes to over 120 countries throughout the pandemic to help governments and health partners fighting COVID-19.
It also has provided passenger services to ferry humanitarian and health workers where commercial flights were unavailable.
Central banks sketch out digital currency as China forges ahead
Central banks began looking closely at digital currencies after Facebook last year announced its yet-to-be-launched digital token Libra that would be backed by a mixture of major currencies and government debt. The body behind Libra has since tweaked plans and now hopes to launch several “stablecoins” backed by individual currencies.Central banks need to keep up to avoid the private sector plugging payments gaps in unsuitable ways,Bank of England (BoE) Deputy Governor and chair of a BIS committee on payments Jon Cunliffe said.
Mercenary’ hacker group runs rampant in Middle East, cybersecurity research shows
The hackers pursued royals and business executives in Bahrain, Kuwait, and Qatar. In August 2019 they attempted to compromise an employee of major Indian energy conglomerate Reliance Industries around the time that the company was negotiating the sale of a stake in its oil-to-chemicals business to Saudi Aramco.
Hyundai Motor to recall Kona EV in South Korea over concern of fire risk
Some 13 incidents of fire involving the Kona EV, including one each in Canada and Austria, have been documented, the office of ruling party lawmaker Jang Kyung-tae said in a statement.
The safety recall “is a proactive response to a suspected defective production of high-voltage batteries used in the vehicles, which may have contributed to the reported fires”, Hyundai said, adding that it will deploy all necessary measures to identify the cause of the fire and address customers’ needs.
South Asia faces worst ever recession, tipping millions into poverty: World Bank
“The impact on livelihoods will even be larger than the GDP forecast suggests…This implies that the region will experience a sharp increase in the poverty rate,” the bank said in its bi-annual report.
India, the region’s biggest economy, is likely to see its economy contract by 9.5% this year, the report said.
WHO reports record one-day rise in global coronavirus cases amid European outbreak
As a region, Europe is now reporting more cases than India, Brazil or the United States.
According to a Reuters analysis of more recent country data, COVID-19 infections are rising in 54 countries, including surges in Argentina, Canada and much of Europe.
Infections in the United Kingdom have reached record levels with over 17,000 new cases reported on Thursday.
“We are seeing a definite and sustained increase in cases and admissions to hospital. The trend is clear, and it is very concerning,” said Dr Yvonne Doyle, medical director for Public Health England.
Hedge funds make pandemic bet on insurance
Investors reckon that in a world where virus outbreaks and climate disasters may be the new normal, innovative new insurance products such as those providing relief during future lockdowns or when staff sickness hinders business, will prove lucrative.
Even while share prices remain subdued, insurers’ debt sales for the most part have been oversubscribed this year, thanks to strong credit quality, typically in the single-A category.
Ant Group’s $35 bln IPO unlikely to be hurt by possible U.S. curbs
Ant is working towards a dual-listing in Shanghai and Hong Kong possibly as soon as this month in what sources have said could be the world’s largest IPO, surpassing oil giant Saudi Aramco’s 2222.SE $29.4 billion float in December.
U.S. President Donald Trump is considering curbs on Ant, an affiliate of Chinese e-commerce firm Alibaba and Tencent over concerns their payment platforms threaten national security, Bloomberg News reported on Wednesday.
If implemented, the restrictions would illustrate how Trump’s administration is seeking to prevent Chinese companies from embedding themselves in the U.S. financial system before they become a significant competitive threat.
U.S. forecaster sees 85% chance of La Niña through winter
La Niña is characterized by unusually cold temperatures in the equatorial Pacific Ocean and linked with floods and drought.
AXA XL announces appointments for Asia & Europe Business Unit
Xavier Veyry, Chief Executive Officer, Asia & Europe at AXA XL, said: “I’m delighted we could find the right people within our organisation to lead our underwriting, captives and claims capabilities in Europe and Asia, as well as our local teams. It reflects the quality of talent at AXA XL.”