International News

AIIB to invest $200 mn into NIIF Fund of Funds for Infra Projects in India

Economy       Jun 24, 2018

  Mumbai:  The Asian Infrastructure Investment Bank (AIIB) is likely to invest $200 million in a fund of funds set up by India to take interest in infra projects, a top government official said on Sunday.   Economic affairs secretary SC Garg said there will be a...

Dr. Atul Gawande will lead the joint health-care venture between Amazon, J.P. Morgan and Berkshire Hathaway,

Surgery, not pharma, is biggest healthcare cost worry in US: Gawande

Health       Jun 22, 2018

  Dr. Atul Gawande, a surgeon who was named this week to head the company being formed by Amazon, Berkshire Hathaway and JPMorgan Chase to trim employee healthcare costs, on Thursday cited surgery as the single biggest U.S. healthcare cost and said there are ways to...

India to be lone economy facing suppressed wages by 2030, says study

Economy       Jun 21, 2018

  India would be the only economy that will not face an upward revision of wages by 2030, as it has a talent surplus, bucking the global trend of a talent crunch, a report noted.   "Unlike any other country in the study India will have a...

MHP, KUKA and Munich Re develop SmartFactory as a Servisolutions for future of manufacturing 

Technology       Jun 21, 2018

  Munich: MHP, KUKA and Munich Re presented SmartFactory as a Service for the first time on 20 June 2018 in Munich – and with it a new business model that has the potential to revolutionise automotive manufacturing processes in the future. The three companies are...

Young Consumers Willing to Let Insurers Spy on Digital Data – If It Cuts Premiums

Technology       Jun 20, 2018

  The majority of people globally between 18 and 34 would be willing to let insurance companies dig through their digital data from social media to health devices if it meant lowering their premiums, a survey shows.   In the younger group, 62 percent said they’d be...

Hackers Steal $32M from S. Korean Cryptocurrency Exchange Bithumb

Risk Management       Jun 20, 2018

  South Korean cryptocurrency exchange Bithumb said 35 billion won ($31.5 million) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital asset.   Bithumb said in a...

Toyota’s $1B Investment in Ride-Hailer Grab Opens Door to Data-Driven Insurance

Technology       Jun 20, 2018

  By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp. stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend stuck in traffic.   The Japanese...

IAG exits most of its Asian businesses

Non Life-News       Jun 19, 2018

  SYDNEY:  Insurance Australia Group (IAG). Australia's largest insurer,  is selling out of its most of the Asian business including  Thailand, Indonesia and Vietnam following a strategic review of the region.   The company today announced the $525 million sale to Tokio Marine & Nichido Fire Insurance...

China, Britain seek deeper insurance cooperation under Belt and Road Initiative

Non Life-News       Jun 19, 2018

  LONDON:  Chinese and British companies anticipate more cooperation in insurance to forestall risks as both sides are set to deepen coordination in projects under the Belt and Road Initiative (BRI), speakers told a high-profile Sino-UK BRI insurance cooperation forum held Monday in London.   London, as...

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