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Hedge funds rake in huge profits betting on catastrophe risk
The best hedge fund strategy of 2023 was a bet on insurance-linked...
Russian charter flight with 6 people disappears over Afghanistan; crash reported
Russian aviation authorities said in a statement the plane was a...
Sri Lanka seeks at least $1.9 million damage from owner of fire-hit tanker
Nishara Jayaratne said the cost was for services provided by various departments including the Sri Lankan navy, air force, ports authority and Marine Environment Protection Authority, among others, up until Sept. 15.The vessel is chartered by Indian Oil Corp to import 2 million barrels of oil from Kuwait to Paradip in eastern India.
Global coronavirus cases to soon surpass 30 million: Reuters tally
The official number of global coronavirus cases is now more than five times the number of severe influenza illnesses recorded annually, according to World Health Organization data.
Around the world, there have been almost 1 million deaths, considered a lagging indicator given the two-week incubation period of the virus. That has well exceeded the upper range of 290,000 to 650,000 annual deaths linked to influenza.
India’s role in production of Covid-19 vaccine critical: Bill Gates
“We’ve been brokering the idea of taking a vaccine and manufacturing it in India, even if it comes from AstraZeneca, Oxford or Novavax or Johnson & Johnson. We’ve publicly talked about the arrangement where a Serum will be able to make very high volume of the AstraZeneca and the Novavax vaccine,” said Gates.
Victory for UK firms in court battle over COVID-19 BI insurance claims
UK High Court rules in policyholders’ favour in landmark business insurance case
Some 370,000 firms which lost earnings as a result of lockdown could expect up to £1.2billion in damages
However, insurers are expected to appeal the decision – meaning firms will likely have to wait months before seeing any payout
Pandemic’s ‘great reset’ makes energy firms invest more in renewables: executives
Reeling from the onset of the pandemic, global oil consumption shrank by more than 20% in the second quarter and prices hit their lowest in decades, making companies rethink how fast they should make the transition away from reliance on oil and gas.
“Everyone’s talking about this great reset . What do we need to do to survive this?” Arif Mahmood, Petronas’ executive vice president and CEO of downstream, said at the virtual Platts APPEC 2020.
“Energy transition will be pushed forward much faster,” he concluded.
China’s Anbang Insurance Group to apply to disband, liquidate
After the Anbang take-over, China has tightened regulations on the country’s financial holdings companies to defuse risks accumulated by a group of non-financial firms that it says expanded blindly into the financial sector.
On Sunday, the People’s Bank of China (PBOC) issued related new rules, setting requirements on registered capital, total assets, and assets under management on eligible financial holdings firms.
Novavax aims for 2 billion COVID-19 vaccine doses with expanded India deal
Novavax’s vaccine is currently in mid-stage trials after an early-stage study showed it produced high levels of antibodies against the novel coronavirus. The company plans to begin late-stage trials in the third quarter.Last month, Novavax said it will supply 60 million doses of its coronavirus vaccine candidate to the UK beginning as early as the first quarter of 2021.
Tech, healthcare mega deals boost virus-stricken M&A market
Technology and healthcare have historically the most active M&A sectors. But many companies in this sector have also fared better in the downturn, either because their offerings are accelerating the transition to digital workplaces and big data, or because they are benefiting from increased investment and spending on healthcare.
Asia offers more flu shots to head off COVID-19 complications
The moves in Asia echo similar efforts in North America and Europe. In the United States, pharmaceutical firms are expected to provide around 200 million flu vaccines this year, about 20% more than usual.
WHO head urges rich nations to join vaccine scheme by Friday deadline
So far, 92 lower-income nations are seeking assistance via the COVAX facility, part of the WHO’s ACT Accelerator to boost development of vaccines, therapeutics and diagnostics to combat the pandemic. Some 80 higher-income nations have expressed interest, but many must still confirm their intention to join by the end of this week.
“If people in low- and middle-income countries miss out on vaccines, the virus will continue to kill and the economic recovery globally will be delayed,” WHO Director General Tedros Adhanom Ghebreyesus told a WHO regional event for Europe that was broadcast virtually.
“Financial and political investments in preparedness have been insufficient, and we are all paying the price,” said the report by The Global Preparedness Monitoring Board (GPMB).