Alfonso Valera, International CEO for Reinsurance Solutions at Aon,...
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Indian Insurance Broking Industry-2026:Future trends and challenges
The old ways of doing business are no longer enough. Brokers are...
Govt notifies guidelines of 2 shipbuilding initiatives with Rs 44 700 cr outlay
The scheme also includes a Credit Risk Coverage Framework, offering...
Indian exporters face rising costs after Houthi Red Sea attacks
Exporters said 95% of vessels had rerouted around the Cape of Good Hope on the southern tip of Africa, adding 4,000 to 6,000 nautical miles and 14-20 days to journeys from India since Houthi militants began attacking shipping in November. The cost of a 24-foot...
Container rates soar on concerns of prolonged Red Sea disruption, inflation
"Tanker rates will increase and futures are up this morning," said John Kartsonas, managing partner at Breakwave Advisors, who added that dry bulk remains the least affected sector. Major importers like Tesla , Geely-owned Volvo Car and Ikea already have reported...
Tesla, Volvo Car pause output as Red Sea shipping crisis deepens
Late on Thursday, Tesla told Reuters it will suspend most car production at its factory near Berlin from Jan. 29 to Feb. 11, citing a lack of components after many ships were re-routed around the southern tip of Africa BERLIN/STOCKHOLM: Automakers Tesla and...
US regulator grounds Boeing 737 MAX 9 airplanes indefinitely, cancelling flights until Tuesday
Under more stringent supervision, the regulator will audit the Boeing 737 MAX 9 production line and suppliers and consider having an independent entity take over from Boeing certain aspects of certifying the safety of new aircraft that the FAA previously assigned to...
Red Sea Crisis: Commerce Min calls inter-ministerial meet On Jan 17 to discuss way forward on trade
The commerce ministry has also set up an internal strategic group, comprising additional secretaries of the ministry, to discuss global issues impacting the country's trade on a daily basis and prepare a strategy so that India's response can be quick and decisive The...
Ukraine in talks with Marsh on war risk insurance for air transport
Air traffic over Ukraine has been suspended since Russia’s full-scale invasion in February 2022. But Kyiv wants to reopen Boryspil International Airport just outside the capital as soon as possible once conditions permit, which it sees as a victory for Ukraine’s...
How Houthi attacks on ships in the Red Sea are affecting global trade
In fact, 40% of Asia-Europe trade normally goes through the area, including a huge amount of energy supplies like oil and diesel fuel for import-dependent Europe, said John Stawpert, senior manager of environment and trade for the International Chamber of Shipping,...
Crude oil prices rise after US, UK attack Houthis
The Houthis attack is forcing ships to take a far longer route around Africa and can cause insurance costs to rocket. Companies can pass on the increased cost of moving their goods to consumers, raising prices again at a time when governments around the world have...
Higher shipping freight rates to offset costs of re-routing from Suez:Fitch
The Red Sea disruptions amplify the impact on global trade from the Panama Canal congestion, caused by drought conditions that have almost halved the number of vessels using the waterway. Bulkers carrying agricultural commodities and tankers are most affected by the...
London mayor says Brexit has cost UK over $178 billion so far
Britain's National Institute of Economic and Social Research (NIESR) estimated in November that Brexit had reduced the size of the economy by 2%-3%, with the impact expected to rise to 5%-6% by 2035 LONDON: Britain's departure from the European Union has reduced the...