International News

Calpers says one-fifth of public holdings exposed to climate risk

SAN FRANCISCO: About one-fifth of the California Public Employees’ Retirement System public markets portfolio is exposed to potential losses from climate change, the $381 billion pension fund manager reported this week in its first ever climate-risk disclosure report.   The report, mandated by a state law...

China to allow 100% FDI in life insurance sector from Jan 2020

Eco/Invest/Demography, Life, Regulation       Dec 10, 2019

  Beijing: China will remove foreign ownership caps for life insurers and the foreign shareholding can reach 100 per cent in the sector from 1 January 2020.   Earlier, China had said  it would remove foreign ownership caps for life insurers, securities firms and funding houses by...

Climate regulations could disrupt investment strategies

  Tighter government climate regulations by 2025 could wipe up to $2.3 trillion off the value of companies in industries ranging from fossil fuel producers to agriculture and car makers, an investor group warned in a report. Rules aimed at lowering carbon emissions are expected to...

India among top 10 countries with higher climate performance: Report

  New Delhi: India, for the first time, ranks among the top 10 in this year's Climate Change Performance Index (CCPI) presented on Tuesday at the COP25 climate summit here. The current levels of per capita emissions and energy use in India, ranked 9th in the...

Willis Towers Watson launches new software for IFRS 17

Eco/Invest/Demography, Life, Non-Life       Dec 10, 2019

  Singapore: Willis Towers Watson has launched ResQ Financial Reporter, an out-of-the-box software solution designed to help P&C insurers implement IFRS 17, one of the most significant and complex changes to insurance accounting requirements for a generation.   ResQ Financial Reporter will provide an easy-to-implement and efficient...

EU regulators to weigh If antitrust rules fit for today’s global, digital markets

Eco/Invest/Demography       Dec 09, 2019

  EU regulators will review two-decade old rules that determine if companies have the market power to throttle rivals or control prices to take into account globalization and digitalisation, Europe’s antitrust chief Margrethe Vestager said on Monday.   Her announcement came amidst criticism by lawyers and academics...

Big tech may be required to share customer data with financial firms

  Google, Alibaba and other “Big Tech” companies could be forced to share data on financial services customers with banks and financial technology firms to prevent unfair competition.   As Facebook’s plan for its Libra “stablecoin” faces scrutiny, a global body of regulators from the world’s main...

New microenterprise project to make farming profitable for half a million Bangladeshi families

Eco/Invest/Demography, Non-Life       Dec 09, 2019

  Dhaka: The International Fund for Agricultural Development (IFAD) and the Government of the People's Republic of Bangladesh have signed an agreement to launch a project to accelerate inclusive economic growth, sustainably reduce poverty and improve food and nutrition security for 445,000 rural families.   The financing...

Germany, Global Parametrics and Hannover Re unvel a new Natural Disaster Fund Deutschland

  Madrid: Global Parametrics (GP), the provider of parametric protection against climate risks in developing markets and the German Federal Ministry for Economic Cooperation and Development (BMZ), in partnership with the German Development Bank (KfW) and Hannover Re jointly announce the formation of the Natural Disaster...