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Nilesh Sathe joins NHAI as Finance Advisor

Sathe will help NHAI to garner funds, with long term tenures,for the country’s road development from foreign institutional investors (FIIs),World Bank,Asia Developmemnt Bank (ADB), pension funds abroad and also from domestic institutional investors from India 

Nitin Gadkari, minister, ministry of transport, shipping and MSME had earlier said that he had a target to raise Rs 15 lakh crore for road development from overseas markets.

U.S. sanctions advisory raises hurdles for global maritime industry

U.S. guidelines seeking constant location monitoring of ships, and investigations by insurers of gaps in that tracking, may also prove difficult, industry officials said. The advisory notes that weather often interferes with AIS transponders, and ship captains should have the discretion to go dark to avoid pirates or militants on the high seas.

Private jet demand rises as wealthy Russians spend lockdown in West

In March, there were 250 private jet round flights between Moscow and Europe, flight tracking data from 80 planes registered with Russian and European charter firms show, though the data did not specify how many people were on board each.

Flights continued in April, albeit falling to 61 round trips that month despite Russia suspending regular and commercial charter flights to and from Russia with some exceptions and locking down Moscow, the epidemic’s epicentre.

SCOR joins UN-convened Net-Zero Asset Owner Alliance, alligns its investment portfolio with low-carbon economy

Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: “SCOR is pleased to join the Net Zero Asset Owner Alliance to promote the transition to a post-coal economy. As a Tier 1 global reinsurer, SCOR has a longstanding commitment to fighting climate change over the long term. Protecting people and property from natural catastrophes and encouraging sustainable development, particularly in a context of intensified climate risk and increased extreme events, are integral parts of the Group’s mission. By joining this initiative and implementing new measures to support the energy transition, SCOR is further strengthening its sustainable approach to investment, as set out in its “Quantum Leap” strategic plan.”

COVID-19 pandemic creating ‘lockdown generation’ as one in six youths stop work:UN

ILO has said that it does not have enough data to determine the overall youth unemployment rate since the coronavirus pandemic began. But, in a survey of people aged 29 and under, the organisation found that worldwide, more than 17 percent of youth had been forced to stop working due to the crisis. And those who have continued to work have had working hours cut, on an average, by 23 percent.

Pandemic forces virtual safety checks for oil tankers

With an estimated 160 million barrels of surplus oil being kept onboard dozens of tankers because on-land storage is full, the situation is pressing.

If restrictions on access to ships stay in place towards the final quarter of the year, tankers may be unable to store oil or sail until repairs can be carried out. This could drive up freight rates for shipping and storage, as fewer vessels will be seaworthy.

WHO warns of ‘second peak’ in areas where COVID-19 declining

“When we speak about a second wave classically what we often mean is there will be a first wave of the disease by itself, and then it recurs months later. And that may be a reality for many countries in a number of months’ time,” WHO emergencies head Dr Mike Ryan said.“But we need also to be cognizant of the fact that the disease can jump up at any time. We cannot make assumptions that just because the disease is on the way down now it is going to keep going down and we are get a number of months to get ready for a second wave. We may get a second peak in this wave.”