International News

As globe gallops into vaccine trials, insurers remain unfazed

  LONDON/FRANKFURT: The world is racing towards a vaccine in record time, stirring public concerns about safety to the extent that nine leading developers have felt compelled to issue a pledge to uphold scientific standards and testing rigour. Yet, while more than 40 experimental COVID-19 vaccines...

Swiss Re and Daimler launch new company Movinx, to transform automotive & mobility insurance business

  Zurich/Stuttgart: Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called Movinx.  Both  shareholders of the 50/50 joint venture will leverage their complementary expertise to establish a new business model. The aim ...

Why is the European Central Bank eyeing a 'digital euro'?

Eco/Invest/Demography       Oct 11, 2020

  The European Central Bank will on Monday launch a public consultation and start experiments to help it decide whether to create a "digital euro" for the 19-nation currency club. The move comes as the pandemic accelerates a shift away from cash, and as policymakers nervously...

Mexico makes nearly $160 million down payment for COVAX vaccine plan

Eco/Invest/Demography, Health, Pandemic       Oct 11, 2020

  MEXICO CITY: Mexico’s government announced on Saturday that it paid the World Health Organization $159.88 million to secure access to COVID-19 vaccines through the agency’s COVAX plan as countries across the globe race to secure supplies. The global health agency’s COVAX Facility is a multilateral...

U.S., AstraZeneca strike deal for COVID-19 antibody treatment touted by Trump

Eco/Invest/Demography, Health, Pandemic       Oct 10, 2020

  The U.S. government has awarded $486 million to AstraZeneca Plc to develop and secure supplies of up to 100,000 doses of COVID-19 antibody treatment, a similar class of drug that was used in treating President Donald Trump.The agreement, under the Trump administration’s Operation Warp Speed,...

Only 1 in 4 global orgs keep Cardholder Payment Data Secure: Report

  Global organizations continue to put their customers' cardholder data at risk due to a lack of long term payment security strategy and execution, flags the newly released Verizon Business 2020 Payment Security Report (2020 PSR). With many companies struggling to retain qualified CISOs or security...

The worst for aviation industry is probably ahead of it, rather than behind

Eco/Invest/Demography, Non-Life       Oct 10, 2020

  If you think your summer holidays were lackluster in an era of pandemic-induced staycations, spare a thought for the world’s airlines. The industry typically earns some 40 per cent of its profits in the third calendar quarter alone, as the surge in travel gives carriers...

Central banks sketch out digital currency as China forges ahead

Eco/Invest/Demography       Oct 09, 2020

  London: A group of seven major central banks including the U.S. Federal Reserve set out on Friday how a digital currency could look like to help catch up with China's "trail blazing" and leapfrog private projects like Facebook Inc's FB.O Libra stablecoin.The central banks and...

'Food is the best vaccine against chaos'; U.N. food agency WFP wins Peace Nobel

Eco/Invest/Demography       Oct 09, 2020

  OSLO/GENEVA: The United Nations’ World Food Programme (WFP) won the Nobel Peace Prize on Friday for its efforts to combat hunger around the world and improve conditions for peace in areas affected by conflict. The Rome-based organisation says it helps some 97 million people in...