Ajay Banga,president, World Bank A sharp spike in diesel and...
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4 dead from storm as Isaias brings threat of floods across the Southeast
The Atlantic hurricane season has been unusually quiet this year,...
Landslide, possible dam breach may have triggered Nepal flash flood,damages two hydropower projects damaged
The flood that struck Nepal around 4 am local time swept away...
Houthis advance along Yemeni coast, threaten Saudi oil exports in the Red Sea
Saudi Arabia, the world's largest oil exporter, has relied on the Red Sea route since the Iran conflict effectively closed Hormuz, through which a fifth of global oil used to flow. CAIRO/WASHINGTON/DUBAI: Iran-aligned Houthis seized control of Yemen's port city of...
UK airlines say they’re left on the hook for ATC outage cost
The financial fallout from the fault at the National Air Traffic Services “will run into tens of millions of pounds, falling entirely on airlines,” Tim Alderslade, chief executive officer for industry group Airlines UK, wrote Wednesday in a letter to UK Transport...
AI could pose ‘existential’ risk to humanity, UN rights chief warns
Volker Türk,human rights chief.UN Turk warned that just a handful of men held “almost unlimited power over AI” without naming any. Top AI companies include Meta, Anthropic, OpenAI and Google. UN human rights chief Volker Türk added his voice on Monday to growing calls...
China to pump $45 billion into state banks, insurers in capital-boosting push
Last week, the National Financial Regulatory Administration published draft amendments to the Insurance Law. The first such revisions since 1995 propose tighter oversight of insurers’ shareholders, higher minimal capital thresholds, a wider scope of insurers that...
Atlantic Hurricane season remains most Tranquil since 1941
The tranquil Atlantic is good news for the millions of people who live along the US East and Gulf coasts, or on Caribbean islands. It also means fewer disruptions for the oil and gas export terminals that line the Gulf of Mexico. September is usually the month when...
Data Centres: Global investment boom could create USD200 billion commercial insurance opportunity amid rising accumulation risks, says Swiss Re
Gianfranco Lot, Swiss Re's Chief Underwriting Officer P&C Re, says: "We are seeing the digital economy become a real economy. AI needs data centres, power grids and increasingly complex infrastructure – and all of it needs insurance. That creates growth...
Nepal floods could cost insurers over $130 million even before death, injury claims
Eleven Nepali hydropower projects lie in the affected region, some covered by standard commercial insurance policies that are still being assessed, said Toton Chakraborty, CEO of Oriental Insurance Company Nepal. MUMBAI:The devastating flood in Nepal last week could...
Laurent Rousseau appointed as Head of International, Marsh Re
Laurent Rousseau as Head of International, Marsh Re said,“Today’s risk environment demands both deep local expertise and a truly global perspective. I look forward to working with our international teams to build on our strong foundation and bring the tailored...
ChatGPT, Gemini, Claude face widespread outages; AWS also hit
According to data from Downdetector, reports of outages began surging in the evening (IST), with users flagging issues ranging from total website inaccessibility to internal server errors when attempting to generate AI responses. New Delhi:Major artificial...
Fitch maintains ‘deteriorating’ outlook on the global reinsurance sector for 2027
``Our expectations of further price declines – although less pronounced than in 2026 – amid abundant capacity drive the outlook. This, alongside rising claims costs, will lead to margin and revenue erosion, although not enough to materially affect the sector’s very...