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Embracing 2025: Year of Purpose & Opportunities
2024 has been a pivotal year for the Indian insurance industry,...
Fiery crash kills at least 179 in worst airline disaster in South Korea
The ministry also confirmed the casualties in the deadliest air...
Surging shipping rates pose new headwind for the global economy
Containers that once would have cost $2,000 to send across the Pacific are now being quoted as high as $13,000 for service before Chinese New Year in mid-February,
Reeling from coronavirus, Asia’s poultry farmers battle bird flu outbreak
Bird flu cannot infect people through poultry consumption, and the H5N8 virus is not known to have ever infected humans, but consumers are still fearful, said Uddhav Ahire, chairman of Anand Agro Group, a poultry company based in the western city of Nashik.
Market conditions harden further at January 2021 Renewals
Capital injections of over USD20 billion and a recovery in financial markets helped to maintain the reinsurance capacity at the levels of early 2020, proving the resilience of the market, Fitch.
The question now is how sustainable the price increases are. In the run-up to the renewals, reinsurers were optimistic of prolonged market hardening, but some are now less sure they are right:S&P
SCOR partners with CyberCube for developing a cyber risk management tool
Jean-Paul Conoscente, CEO of SCOR P&C, commented,“In line with our Quantum Leap strategic plan, under which we are accelerating our use of new technologies, this partnership with CyberCube is a perfect example of how SCOR leverages data management and analysis capabilities to build its knowledge and deliver optimal service to clients.This integrated Cyber platform is a major development that will enable us to further deepen and broaden our management of this key risk in the future.”
Indian stores shuttered by farmer protests cost Reliance, Walmart millions in revenue: sources
One industry source said estimated losses for Reliance from its state-wide shutdowns run into millions of dollars. Two other sources said Walmart’s estimated revenue loss from its store, one of 29 such outlets nationwide, has crossed $8 million.
In November, Punjab estimated economic losses from the protests at $4 billion, while one industry group has pegged the overall hit to India’s economy at $9.6 billion.
Google removes some lending apps in India to protect consumers
The online lending industry has come to the attention of the authorities after at least two suicides in the past month linked to alleged harassment by recovery agents of such apps.
Toyota settles US probe into delayed emissions defect reports for $180 million
The government said the settlement resolved Toyota’s “systematic, longstanding violations of Clean Air Act emission-related defect reporting requirements, which require manufacturers to report potential defects and recalls affecting vehicle components designed to control emissions.”
Acting U.S. Attorney Audrey Strauss in New York said: “Toyota shut its eyes to the noncompliance, failing to provide proper training, attention, and oversight to its Clean Air Act reporting obligations.”
WhatsApp faces first legal challenge in India over privacy
California-based WhatsApp said on Jan. 4 it reserved the right to share some data including location and phone number with Facebook and its units such as Instagram and Messenger.
That triggered outrage, including in its biggest market India where it has 400 million users.
Covid-19: No herd immunity in 2021, WHO warns
WHO’s chief scientist Soumya Swaminathan warned it would take time to produce and administer enough vaccine doses to halt the spread of the virus.
“We are not going to achieve any levels of population immunity or herd immunity in 2021,” she said, stressing the need to maintain physical distancing, hand-washing and mask-wearing to rein in the pandemic.
BioNTech, warned that Covid-19 would “likely become an endemic disease”, and said vaccines would need to fight against the emergence of new viral variants and a “naturally waning immune response”.
India wants Pfizer to do local study before approval
“As of now, the pre-condition for any vaccine to be implemented in India is that you have to do a bridging trial,” Vinod K. Paul, who heads a government panel on vaccine strategy, said in an interview in his office near the parliament building.