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No one wants used EVs, making new ones a tougher sell too
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Toyko,Sydney aim to lure edgy Hong Kong financial firms, but Singapore a top draw
Institutions have not made any major moves from Hong Kong as yet, but they are being circumspect even about discussing contingency plans as the topic is sensitive and many hope to expand in mainland China.
Busan in South Korea is offering tax breaks and rent free offices to financial firms, while Taiwan’s top regulator told Reuters he hoped the island’s rule of law and democratic values would attract business.
The political upheaval in Hong Kong has created an opportunity for Australia and Sydney to become a stronger regional financial centre,” Senator Andrew Bragg wrote to Australia’s Treasurer this month, proposing policy changes.
“Tokyo will, frankly, struggle to steal significant market share from, let alone replace, Hong Kong,” said Steven Tran, a partner at law firm Mayer Brown in Hong Kong, who was previously based in Tokyo for four years.
Second wave of coronavirus in Asia prompts fresh lockdowns
While much of Asia is reimposing lockdowns and other curbs on movement, India continues to ease restrictions despite a relentless rise in infections. India has a total of 1.4 million cases, behind only the United States and Brazil.
Travel bans cannot be indefinite,countries must fight virus at home – WHO
“…It is going to be almost impossible for individual countries to keep their borders shut for the foreseeable future. Economies have to open up, people have to work, trade has to resume,” WHO emergencies programme head Mike Ryan said.
AIR Worldwide releases updated Earthquake Model for Australia
“This model has been developed to meet the wide spectrum of earthquake risk management needs of the insurance industry and we took a careful and thoughtful approach in order to deliver this update,” said Dr. Jayanta Guin, executive vice president and chief research officer, AIR Worldwide.
Second COVID-19 wave forces new travel curbs around the globe
Europe has yet to lift bans on travellers from several countries, including the United States, where premature reopenings have led to record numbers of infections and deaths in many states.
Alibaba,Jack Ma summoned by Gurugram court on former employee’s complaint
In court filings dated July 20 and previously not reported,the former employee of Alibaba’s UC Web, Pushpandra Singh Parmar, alleges the company used to censor content seen as unfavourable to China and its apps UC Browser and UC News showcased false news “to cause social and political turmoil”.
Swiss Re appoints Pasricha as Global Head P&C Solutions
For the last six years,Pranav Pasricha was the CEO of Intellect SEEC,offering data, machine learning and cloud-based solutions to commercial P&C and life insurance clients globally. Earlier, Pasricha was responsible for strategy, technology and operations for QBE Insurance across Australia Asia Pacific, leading the build-up of its eBusiness capabilities and digital transformation of underwriting and claims
Record numbers of coronavirus cases in every global region
“We will not be going back to the ‘old normal’. The pandemic has already changed the way we live our lives,” World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said this week. “We’re asking everyone to treat the decisions about where they go, what they do and who they meet with as life-and-death decisions – because they are.”
Insurers explore officer coverage as police reform debate rages in US
U.S. insurers and brokers see a potential market opening up after a New York state lawmaker this month introduced legislation that would require individual officers to carry liability coverage for lawsuits alleging excessive force, abuse or other misconduct.
Currently, most police officers rely on municipalities to cover legal costs and payouts to victims, either from public funds or blanket insurance. Critics say that provides no incentive for officers to check their behavior, often leaving taxpayers on the hook. New York City paid $220 million last year for police department settlements of civil lawsuits, far more than any other of the city’s agencies, public data show.
Shadow of second wave of the virus spoils world leaders’ efforts to restore normality
From Italy to New Zealand, irrespective of how well the virus was contained, governments acknowledge that fresh waves of the deadly coronavirus are likely and that the policy tools to mitigate the damage are limited.The hope is that localizing quarantines to towns, cities and regions will be enough to snuff out bouts of infections as they come.