International News

Coronavirus: New disease spreading in Asia revives SARS fears

  Paris: A mysterious SARS-like virus has spread around China with more than 200 diagnosed cases in the cities of Wuhan, Beijing and Shenzhen, plus two people infected in Thailand and another case confirmed in Japan. Here are a few key points about coronavirus. What is...

Wealth of India's richest 1% more than 4 times that of 70% poorest: Oxfam

Eco/Invest/Demography, Policy       Jan 20, 2020

Davos: India's richest 1 per cent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 per cent of the country's population, while the total wealth of all Indian billionaires is more than the full-year budget, a...

Boeing 737 MAX: Company finds 'new minor' software glitch in grounded aircraft

  Boeing is working to fix a newly discovered problem with software powering up on the 737 Max, adding to the list of tasks the aircraft maker faces to get the grounded plane back in the air.   Boeing said Friday it has told the Federal Aviation...

China posts weakest growth in 29 years as trade war with US bites

Eco/Invest/Demography       Jan 17, 2020

  Beijing: China's economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown.   Fourth-quarter gross domestic product (GDP)...

Political turmoil to be the ‘new normal’ for the world in 2020, risk firm says

Eco/Invest/Demography       Jan 16, 2020

  Hong Kong: The violent protests and political upheaval that marked 2019 and challenged governments from Hong Kong to Chile is set to stay and is now the “new normal,” according to a global risk firm.   Verisk Maplecroft, which advises corporate clients on political risk around...

India plans new law to protect foreign investment - sources

Eco/Invest/Demography, Policy, Risk Management       Jan 15, 2020

  NEW DELHI: India is planning a new law to safeguard foreign investment by speeding up dispute resolution, aiming to attract more capital from overseas to boost stuttering domestic growth, two officials with direct knowledge of the matter told Reuters. In a 40-page initial draft, India’s...

WEF sounds alarms about Climate Change risks

  The World Economic Forum is sounding alarm bells on climate change, with environmental risks occupying the group’s top five long-term concerns for the first time on record.   Extreme weather events, the failure of climate-change mitigation, major natural disasters, biodiversity loss and human-made environmental damage were...

Jon Hancock to quit Lloyd's

Reinsurance       Jan 15, 2020

  London: Today Lloyd’s announced that Jon Hancock has decided to step down as Performance Management Director(PMD) in 2020.Jon’s ground-breaking and market leading approach has reset the performance agenda, and in 2019 he also took the lead on Blueprint One as part of the Future at...

Zurich sees hardening rates, improving terms – first time since 2002

Non-Life, Reinsurance       Jan 14, 2020

  Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums.   “The last time this kind of market really existed...

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