Historical data no longer provide an adequate foundation on which...
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Rajaraman gets extension as IFSCA chairman till 65
K Rajaraman, chairman, International Financial Services Centres...
Houthis’ Red Sea attacks prompt London insurers to widen high-risk zone
War risk premiums for voyages through the southern Red Sea have...
AI investment to cushion global insurance slowdown amid geopolitical turmoil: Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist, said,"The latest Middle East conflict is not a one-off shock but another sign that geopolitical risk has become a structural feature of the global economy with four supply shocks in six years. As economies invest in AI...
Attack on Qatari LNG vessel in Hormuz challenges US mediation
Three separate attacks on ships would mark the highest number since the US and Iran signed an interim peace deal last month, underscoring the continued risks to ships crossing through Hormuz. Tehran has repeatedly said it won’t allow vessels to transit the waterway...
Allianz warns of rising uninsurable assets
Extreme weather events — such as the heat wave gripping Europe — are making a growing number of assets too risky to insure, according to a director at Europe’s largest primary insurer. “Certain locations and perils cannot be covered as we would wish them to be...
Hormuz half-open: tanker fleet prices in recovery hope
Daily rates for a VLCC from the Middle East to China are currently quoted around $287,000, which is down from more than $500,000 shortly before the peace accord was announced.In contrast, rates for chartering smaller tankers have edged higher as the heavy...
Enhanced insurance cover for exports to West Asia extended till Sept 30
"The eligibility timelines under Component II of the EPM RELIEF intervention are extended up to 30th September 2026 to support Indian exporters and mitigate logistics challenges arising out of the continuing West Asia Crisis," the Directorate General of Foreign Trade...
Venezuela faces $6.7 billion in economic losses from earthquakes:UNDP
Direct physical damage is estimated at $6.7 billion (range of $4.7 billion to $8.7 billion), driven by losses to housing and economic assets, according to the preliminary assessment. This does not include infrastructure damage, wider economic disruption and...
Iran and US step up attacks and threaten to escalate
Iran's foreign minister, Abbas Araqchi, said responsibility for returning maritime traffic in the strait to pre-war levels lay solely with Tehran and urged others not to intervene "in Iran's administration of the strait". DUBAI/WASHINGTON: Iran launched missiles and...
Iran seeks “insurance mechanism” to reduce risks for ships transiting through Hormuz
"Yes, we want to maintain the security of the Strait of Hormuz. We want to protect the environment of the Strait of Hormuz. We must establish an insurance mechanism so that ships involved in incidents or encountering problems are covered to reduce their risk," Iran's...
Iran reasserts its right to control shipping in Strait of Hormuz after ship hit near Oman
"Safe passage through the Strait of Hormuz cannot be guaranteed under ambiguous arrangements, parallel routes or decision-making that does not take Iran's role as a coastal state into account," Deputy Foreign Minister Kazem Gharibabadi said on X. DUBAI/LONDON: Tehran...
Reopening of Strait of Hormuz to lower tail risk, but supply normalisation to be costly: S&P
S&P said South Asia is especially exposed to second-order risks of the West Asia conflict.India is the world's largest urea importer and relies heavily on Gulf suppliers, India is the world's largest urea importer and relies heavily on Gulf suppliers, while...