The Suez Canal, a critical waterway connecting the Mediterranean...
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Germany is launching a six-month trial of 4-day work week from Feb 1
A six-month programme starting from Feb 1 will grant a day off...
Hong Kong court orders property firm China Evergrande to liquidate after plan for $300B debt fails
China Evergrande Group is one of the biggest of a series of Chinese...
New global lab network will compare COVID-19 vaccines head-to-head
Speaking to Reuters ahead of announcing the labs involved, Melanie Saville, director of vaccine R&D at the Coalition for Epidemic Preparedness Innovations (CEPI), said the idea was to “compare apples with apples” as drugmakers race to develop an effective shot to help control the COVID-19 pandemic.
IFAD becomes first UN fund to receive a credit rating, providing a boost to the world’s poorest people
This sets the stage for increased investments in food security, employment, and rural economic growth, and is an important step towards the achievement of the Sustainable Development Goals (SDGs).
IFAD-supported projects and programmes are funded through contributions from its 177 Member States, investment income and reflows, as well as cofinancing from other sources.
With Official Development Assistance (ODA) under pressure in recent years, IFAD has been exploring new funding models to help it double its impact on reducing poverty and hunger by 2030, and meet the changing needs of borrowing countries.
Microsoft says Russia behind most nation-state cyber-attacks
Microsoft Corp. has issued 13,000 alerts about nation-state hacking attempts to its customers in the last two years, with 52% of incidents between July 2019 and June 2020 related to Russian hackers — whose targets have ranged from elections to the Olympics, according to a report published Tuesday. Iran was responsible for a quarter of the alerts while China was responsible for 12%. The remainder of the nation-state activity observed by Microsoft came from North Korea and other countries.
Honda to quit F1 to focus on zero-emission technology
“This is not a result of the coronavirus pandemic but because of our longer-term carbon-free goal,” Chief Executive Takahiro Hachigo said.Like other automakers, Honda is rushing to build new-energy vehicles in an industry shift that Hachigo on Friday described as “once in a century”. That race is accelerating amid the coronavirus outbreak as carmakers review production plans to capture market share with new models including low or zero-emission vehicles.
Pandemics overtakes climate change as biggest worry for insurers
COVID-19 is proving to be a major challenge for insurers, especially those that provide cover for canceled events such as sports matches and concerts. Disputes over coverage have led some policyholders to take legal action, with AXA recently losing a lawsuit against five restaurant operators. The insurer said it will appeal the ruling.
U.S. Treasury warns cyber insurers payments to hackers may violate sanctions
The average ransomware payment jumped by 60% to $178,254 between the first and second quarters, according to Coveware a firm that helps negotiate and facilitate cyber ransom payments.
Sophisticated insurers and financial institutions are already aware of the sanctions concern, said Sumon Dantiki, a King & Spalding LLC lawyer who advises on national security and cyber matters.
France needs new pandemic business insurance law – minister
“The state is not going to pick up the tab for businesses’ operating losses each time there’s a new pandemic,” Le Maire said in an online interview session with Le Monde newspaper.
France urges parts review after Airbus A380 engine blowout
France’s BEA agency made the recommendation in a final report into the accident in which an Air France jet carrying more than 500 passengers lost the front section of one of its four engines while flying over Greenland, before landing safely in Canada.
The move follows a perilous investigation involving a 21-month international aerial and ground search across the ice sheet to find a crucial titanium alloy fragment, buried 3 metres below the surface and just a metre away from a hidden crevasse.
UK regulator, insurers, brace for Supreme Court battle over COVID-19 case
The Financial Conduct Authority (FCA) had set a late Wednesday deadline for talks with insurers, such as QBE and RSA, to ensure eligible business interruption (BI) claims would be paid speedily, after the High Court ruled that thousands had been wrongly rejected.
COVID-19 controls turn Asia into global surveillance hotspot, analysts say
“Asia as a region risks sleep-walking into serious privacy breaches if there isn’t transparency when it comes to data use with respect to COVID-19 surveillance measures,” said Sofia Nazalya, a human rights analyst at Verisk Maplecroft.