International News

Pirate kidnappings off West African coast rise 40%: Study

  The number of kidnappings reported off the West African coast in the year through September is 40% higher than the same period in 2019, according to the International Maritime Bureau. Piracy incidents in the Gulf of Guinea contributed to a total of 132 global attacks...

G7 officials vow to fight ransomware attacks; say stablecoin needs regulation

  Financial leaders of the world’s seven biggest economies on Tuesday vowed to fight rising ransomware attacks amid the COVID-19 pandemic, and said no stablecoin operation should start until it is properly regulated. In a joint statement, the finance officials of the United States, Canada, Japan,...

Kristalina Georgieva,Managing Director, International Monetary Fund

Vaccine cooperation, recovery could boost global income $9 trillion by 2025, IMF chief says

Eco/Invest/Demography, Health, Non-Life, Pandemic       Oct 16, 2020

WASHINGTON/NEW YORK: Strong international cooperation on COVID-19 vaccines could speed up the world economic recovery and add $9 trillion (6.9 trillion pounds) to global income by 2025, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday.Speaking at a news conference after a meeting of...

IMF data shows pandemic will push China GDP growth well beyond US

Eco/Invest/Demography, Health, Pandemic       Oct 15, 2020

The Covid-19 pandemic will produce lasting shifts to global growth, pushing China even more to the forefront. The proportion of worldwide growth coming from China is expected to increase from 26.8% in 2021 to 27.7% in 2025, according to Bloomberg calculations using International Monetary Fund...

Heng Swee Keat,Deputy Prime Minister,Singapore

‘SIRC 2020 Re-Mind’ virtual event to be held on 2 to 5 Nov, Singapore's Dy PM to deliver keynote address

Non-Life, Reinsurance       Oct 15, 2020

  Singapore: Singapore's Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Heng Swee Keat will be the Guest-of-Honour to officiate at the opening and deliver the official keynote address at SIRC 2020 Re-Mind’.  The ‘SIRC 2020 Re-Mind’ virtual event will be held...

David Malpass,President,World Bank

World experiencing worst recessions since Great Depression due to Covid: WB

Eco/Invest/Demography, Health, Pandemic       Oct 15, 2020

  Washington: The world is experiencing one of the deepest recessions since the Great Depression in the 1930s owing to the novel coronavirus, World Bank President David Malpass has said, terming the COVID-19 pandemic a "catastrophic event" for many developing and the poorest countries. He told...

Climate Change means more Weather Disasters every year

GENEVA:  In the wake of heat waves, global warming, forest fires, storms, droughts and a rising number of hurricanes, the U.N. weather agency is warning that the number of people who need international humanitarian help could rise 50% by 2030 compared to the 108 million...

Worried European nations revive curfews, lockdowns amid 'exponential growth' in virus

Eco/Invest/Demography, Health, Pandemic       Oct 14, 2020

PARIS/PRAGUE: France imposed curfews while other European nations are closing schools, cancelling surgeries and enlisting student medics as overwhelmed authorities face the nightmare scenario of a COVID-19 resurgence at the onset of winter.With new cases hitting about 100,000 daily, Europe has by a wide margin...

Torsten Jeworrek,Member of the Board of Management

Pay-per-part: TRUMPF and Munich Re plan new business model for the manufacturing industry

Eco/Invest/Demography, Reinsurance, Technology       Oct 14, 2020

  Munich: The TRUMPF Group and Munich Re Group (Munich Re) are entering into a strategic partnership for an innovative service offering of laser cutting machines. The jointly developed "pay-per-part model" enables customers to use a full-service laser machine without having to buy or lease any...