International News

Britain’s Financial Conduct Regulator admits data breach

Eco/Invest/Demography, Risk Management       Feb 25, 2020

Britain’s Financial Conduct Authority (FCA) has admitted an accidental leak of confidential information, including the names and some contact details of people who had made complaints against the watchdog in 2018 and 2019, on its website.   The FCA said on Tuesday, the private data, which...

Global funds load up on Indian stocks as virus shelter in Asia

Eco/Invest/Demography, Health       Feb 26, 2020

India’s $2.1 trillion stock market is drawing increasing foreign investment as the country remains relatively unscathed from the coronavirus outbreak threatening lives and economies around the world.   Fund management firms including Eastspring Investments and Northcape Capital are flagging the defensive qualities of India’s domestic-focused market...

Coronavirus could wipe out $1 trn of global GDP

  The worrying prospect that the coronavirus outbreak could become the first truly disruptive pandemic of the globalization era is renewing doubts over the stability of the world economy.   With the death toll approaching 3,000, over 80,000 cases officially recorded and an outbreak in Italy now...

Coronavirus fears drive up credit risk for Gulf crude exporters

The cost of insuring against sovereign debt defaults by Gulf Arab states has risen in recent days as markets price the risk the coronavirus outbreak represents for the crude export-dependent region.   Conventional spreads on the five-year credit default swaps (CDS) of Bahrain and Oman were...

WHO warns of pandemic risk after coronavirus peaks in China

  Geneva: The new coronavirus has peaked in China but could still grow into a pandemic, the World Health Organization has warned, as infections mushroom in other countries.   Financial markets have gone into a tail-spin after grim news of deaths and outbreaks in the Middle East,...

US expands its reinsurance program,transfers $400 mn in flood risk to capital markets

  Washington: The Federal Emergency Management Agency (FEMA) of USA has continued to engage reinsurance markets to help strengthen the financial framework of the National Flood Insurance Program and promote private sector participation in flood-risk management.     On, Feb. 21, FEMA entered into the agency’s third, three-year...

Washington pledges $1 billion for coronavirus vaccine as pandemic risks grow

  BEIJING/WASHINGTON: U.S. President Donald Trump will seek $2.5 billion from Congress to fight the coronavirus epidemic and U.S. and South Korean militaries are considering scaling back joint training as the virus spreads in Europe and the Middle East.   Countries around the world are stepping up...

Seoul worst hit as Asia markets plunge on virus worries

  Hong Kong: Seoul led a sharp drop across Asian equity markets Monday as South Korea announced a surge in COVID-19 infections, while oil plunged and safe haven assets rallied on growing concerns about the global spread of the deadly virus.   With the outbreak showing little...

Australia regulator seeks to understand financial risks of climate change

  Australia’s prudential regulator said on Monday it was looking to better understand the financial risks of climate change and would begin undertaking deeper assessments of the industry’s vulnerabilities to improve resilience.   The Australian Prudential Regulation Authority (APRA) will develop industry guidance to help provide better...

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