European flights to Cairo suspended as terror risks escalate

European flights to Cairo suspended as terror risks escalate

European flights to Cairo suspended as terror risks escalate

British Airways (BA) and Lufthansa suspended flights to Cairo, after warnings of escalated terror threats to the Egyptian capital, particularly for aviation. Lufthansa has now resumed flights but BA has said it will reconsider flights after a further week of suspension. BA said it made the move as a security “precaution” but gave no details. A BA spokesperson said: “We…

Moroccan companies still behind on payments

Moroccan companies still behind on payments

Moroccan companies still behind on payments

Companies in Morocco are still late on payments, creating added risks for business in the north African country. According to credit insurer Coface, payment terms in Morocco show a situation that remains worrying despite a slight improvement. In its fourth survey on the payment behaviour of companies in Morocco, carried out at the beginning of 2019, it reveals that contractual…

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

Egyptian insurance industry to develop sustainable insurance roadmap with UN Environment Programme

The Egyptian insurance industry has agreed a pioneering initiative to develop a national sustainable insurance strategy and action plan – described as a “roadmap” – by 2020. This roadmap aims to harness the triple role of the Egyptian insurance industry as risk managers, insurers and investors for economic, social and environmental sustainability. Insurance leaders and financial regulators, UN officials and…

London Market Group identifies trade priorities post-Brexit

London Market Group identifies trade priorities post-Brexit

London Market Group identifies trade priorities post-Brexit

The London Market Group (LMG) has called on the UK Government to be “proactive in opening up international insurance markets based on mutual market access, home-state supervision and no host-state financial requirements”. The LMG said it has identified a number of priority markets that it will seek to work on with the Treasury and the Department of International Trade. Malcolm…

North African countries need to work together

North African countries need to work together

North African countries need to work together

Technological and geopolitical forces are reshaping regional landscapes, according to the World Economic Forum (WEF), which has urged north African countries to work together. The Middle East and North Africa Risks Landscape briefing paper warns that the technological breakthroughs of the Fourth Industrial Revolution are bringing opportunity but also risk for those unprepared to adapt. At the same time, fractures between…

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

A new political risks insurance consortium has been established in London, with Lloyd’s insurer Neon as the lead and MS Amlin becoming a joint agreement party. The London Political Risks Insurance Consortium has been created in response to increased levels of political uncertainty across the globe, which have triggered demand for political risks insurance coverage at scale, according to Neon.…

Morocco among most promising emerging markets for 2019

Morocco among most promising emerging markets for 2019

Morocco among most promising emerging markets for 2019

Trade credit insurer Atradius has put Morocco in its top five most-promising emerging markets for 2019. In its Promising Emerging Markets Economic Research Report, Atradius states: “While the Middle East and North Africa is experiencing subdued growth, Morocco is bucking the trend with GDP growth forecast at 3.3% thanks to a cyclical upturn in agricultural production, as well as stronger non-agricultural…

Oil slick threat to French coast as Porsche counts cost of lost cars

Oil slick threat to French coast as Porsche counts cost of lost cars

Oil slick threat to French coast as Porsche counts cost of lost cars

French authorities are battling to contain an oil slick that threatens beaches around the Bay of Biscay, as Porsche counts the cost of losing limited edition cars. The Grande America vessel was on its way to Casablanca with more than 2,200 vehicles on board. Ultimately, it was headed for Brazil. However, it capsized near the French town of La Rochelle…

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

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