Russia: Bombings raise safety concerns ahead of Winter Olympics
Two bomb blasts on Dec. 29 2013 and Dec. 30 2013 in Volgograd, Russia, that killed more than 30 people have raised concerns over the safety of athletes and audiences travelling to Sochi for the 2014 Winter Olympics, Bloomberg Businessweek reported. Matthew Clements, security expert at IHS Inc., said “there is a greater risk to […]
Bangladesh: Political unrest costs farm, farm-based industries $1.5 billion
Bangladesh’s farm and farm-based sectors are likely to have suffered losses of at least 118 billion Bangladeshi takas ($1.5 billion) because of the ongoing political unrest in the country, Bangladeshi newspaper The Financial Express reported. The losses were because of an embargo on transportation and 41 days of blockades. Rice mills and their sub-dealers suffered […]
U.K.: Adverse weather conditions disrupt rail services
A spokesman for Network Rail Ltd. said it saw “one of the worst disruptions in recent memory” after a quarter of all 8,000 trains running in the United Kingdom were cancelled or delayed because of landslides, flooding and gales, the Daily Mail reported. The chaos is set to result in compensation payouts to thousands of […]
Indonesia most targeted by cyber attackers in 2013: Report
Indonesia was the most targeted nation by cyber-attackers in 2013, according to a report by the country’s Communications and Information Technology Ministry. Communications Minister Tifatul Sembiring said that during the year, the nation saw more than 1.2 million cyber-attacks, The Jakarta Globe reported. Mr. Sembiring said “70% of these attacks, which ranged from phishing to […]
China: Natural disasters cause economic losses of $98 billion in 2013
Natural disasters in China have caused economic losses of up to 592.96 billion Chinese yuan ($97.8 billion) and killed 1,181 people as of Dec. 13, the country’s Ministry of Civil Affairs said in a report. In response to the various disasters during the year, 49 warning or emergency responses were issued by the Ministry of […]
Canada: Businesses concerned over ice storm’s impact on premiums
Business owners in New Brunswick, Canada, are concerned over whether their premiums will increase following a recent ice storm, CBC reported. Steve Olmstead of the Insurance Bureau of Canada said it could take a year or longer to close the claims. Mr. Olmstead said “over the summer we saw a lot of storm damage, a […]
U.K.: Adverse weather conditions disrupt rail services
A spokesman for Network Rail Ltd. said it saw “one of the worst disruptions in recent memory” after a quarter of all 8,000 trains running in the United Kingdom were cancelled or delayed because of landslides, flooding and gales, the Daily Mail reported. The chaos is set to result in compensation payouts to thousands of […]
Russia: Bombings raise safety concerns ahead of Winter Olympics
Two bomb blasts on Dec. 29 2013 and Dec. 30 2013 in Volgograd, Russia, that killed more than 30 people have raised concerns over the safety of athletes and audiences travelling to Sochi for the 2014 Winter Olympics, Bloomberg Businessweek reported. Matthew Clements, security expert at IHS Inc., said “there is a greater risk to […]
Reinsurance premiums expected to drop in 2014: Hannover Re chief
Hannover Re chief Ulrich Wallin has said he expects reinsurance premiums to drop in 2014, German daily Die Welt reports. Mr. Wallin told the newspaper that 2013 was an unusual year and the reinsurer is taking a cautious approach toward 2014. He also said that the reinsurer would waive business if the premiums fall too […]
China: Natural disasters cause economic losses of $98 billion in 2013
Natural disasters in China have caused economic losses of up to 592.96 billion Chinese yuan ($97.8 billion) and killed 1,181 people as of Dec. 13, the country’s Ministry of Civil Affairs said in a report. In response to the various disasters during the year, 49 warning or emergency responses were issued by the Ministry of […]
China: 8.3 million acres of farmland polluted, says minister
Wang Shiyuan, deputy minister of China’s Ministry of Land and Resources, said more than 8 million acres of the country’s farmland is too polluted for farming, The Associated Press reported. Mr. Shiyuan said investigations by the Ministry of Environmental Protection have revealed “moderate to severe pollution” on 8.3 million acres, The Associated Press reported. He […]
Canada: Fire at Heinz factory causes nearly $19 million in damage
A fire at H.J. Heinz Co.’s factory in Ontario, Canada, has resulted in $15 million Canadian ($14 million) to CAD 20 million ($18.6 million) in damage, The Argus Observer reported. The entire plant was filled with smoke from the fire. The cause of the fire is yet to be determined. Read more
Indonesia most targeted by cyber attackers in 2013: Report
Indonesia was the most targeted nation by cyber-attackers in 2013, according to a report by the country’s Communications and Information Technology Ministry. Communications Minister Tifatul Sembiring said that during the year, the nation saw more than 1.2 million cyber-attacks, The Jakarta Globe reported. Mr. Sembiring said “70% of these attacks, which ranged from phishing to […]
Businesses worried over political chaos in Turkey
U.K. firms with operations in Turkey fear that political conflicts in the Turkish market could put their operations at risk, This is Money reported. Diageo P.L.C. said any political change could be crucial to the success of Mey Icki Sanayi ve Ticaret A.S., which Diageo acquired in 2011. Other U.K. companies with operations in Turkey […]
Businesses worried over political chaos in Turkey
U.K. firms with operations in Turkey fear that political conflicts in the Turkish market could put their operations at risk, This is Money reported. Diageo P.L.C. said any political change could be crucial to the success of Mey Icki Sanayi ve Ticaret A.S., which Diageo acquired in 2011. Other U.K. companies with operations in Turkey […]
Bangladesh: Political unrest costs farm, farm-based industries $1.5 billion
Bangladesh’s farm and farm-based sectors are likely to have suffered losses of at least 118 billion Bangladeshi takas ($1.5 billion) because of the ongoing political unrest in the country, Bangladeshi newspaper The Financial Express reported. The losses were because of an embargo on transportation and 41 days of blockades. Rice mills and their sub-dealers suffered […]
Reinsurance premiums expected to drop in 2014: Hannover Re chief
Hannover Re chief Ulrich Wallin has said he expects reinsurance premiums to drop in 2014, German daily Die Welt reports. Mr. Wallin told the newspaper that 2013 was an unusual year and the reinsurer is taking a cautious approach toward 2014. He also said that the reinsurer would waive business if the premiums fall too […]
Canada: Businesses concerned over ice storm’s impact on premiums
Business owners in New Brunswick, Canada, are concerned over whether their premiums will increase following a recent ice storm, CBC reported. Steve Olmstead of the Insurance Bureau of Canada said it could take a year or longer to close the claims. Mr. Olmstead said “over the summer we saw a lot of storm damage, a […]
Canada: Fire at Heinz factory causes nearly $19 million in damage
A fire at H.J. Heinz Co.’s factory in Ontario, Canada, has resulted in $15 million Canadian ($14 million) to CAD 20 million ($18.6 million) in damage, The Argus Observer reported. The entire plant was filled with smoke from the fire. The cause of the fire is yet to be determined. Read more
China: 8.3 million acres of farmland polluted, says minister
Wang Shiyuan, deputy minister of China’s Ministry of Land and Resources, said more than 8 million acres of the country’s farmland is too polluted for farming, The Associated Press reported. Mr. Shiyuan said investigations by the Ministry of Environmental Protection have revealed “moderate to severe pollution” on 8.3 million acres, The Associated Press reported. He […]