Cyberattacks biggest business risk across east Asia and the Pacific

Cyberattacks biggest business risk across east Asia and the Pacific

Cyberattacks biggest business risk across east Asia and the Pacific

The risk of a cyberattack is the biggest concern among business leaders in east Asia and the Pacific, according to the Regional Risks for Doing Business report from the World Economic Forum (WEF). The prominence of cyber risk reflects the rapid pace of digitalisation and the increasing sophistication of the region’s economies, according to the report. Southeast Asia also boasts…

Lego wins big copyright case in China

Lego wins big copyright case in China

Lego wins big copyright case in China

Danish toymaker Lego is celebrating the successful outcome of a copyright court case in China that could have repercussions for other international manufacturers that have struggled to protect their intellectual property (IP) from Chinese imitators. The decision, from a district court in Guangzhou Yuexiu, found that the four Chinese defendants had infringed Lego’s IP rights by copying the 3D artworks…

Parima pushes sustainability at Tokyo conference

Parima pushes sustainability at Tokyo conference

Parima pushes sustainability at Tokyo conference

Delegates at the recent Pan-Asia Risk and Insurance Management Association (Parima) conference in Tokyo heard from the high priest of a Buddhist temple, as part of the risk management association’s drive to promote corporate sustainability. Mr Kojo Morimoto, high priest of the Todai-ji Temple in the Japanese city of Nara, addressed how the temple, which has stood for more than…

Myanmar’s EU trade status at risk from genocide inquiry

Myanmar’s EU trade status at risk from genocide inquiry

Myanmar’s EU trade status at risk from genocide inquiry

The preferential trade status granted to Myanmar by the European Union (EU) could be at risk pending an investigation into allegations of genocide. Such a move could be a serious setback for any Myanmar-based corporates exporting or importing goods to or from the EU. Myanmar is one of several countries that are included in the EU’s Everything But Arms (EBA)…

RMS forecasts major catastrophes in Asia-Pacific

RMS forecasts major catastrophes in Asia-Pacific

RMS forecasts major catastrophes in Asia-Pacific

Risk modelling firm RMS has compiled a list of ten ‘one in a 100-year’ natural catastrophes that could hit the Asia-Pacific region, highlighting the region’s vulnerability to environmental disasters. The region has already suffered a number of catastrophes in 2018, including Typhoons Jebi and Mangkhut, and the Palu earthquake in Indonesia. However, RMS believes there is a likely expectation of…

Emerging market risks rise

Emerging market risks rise

Emerging market risks rise

Recent months have seen increased volatility in emerging markets as foreign investors pull back from heavily indebted countries like Turkey, Argentina and South Africa. While a full-blown debt crisis looks unlikely, political risk in emerging markets is expected to heighten, driving increased demand for specialist trade credit insurance. With rising interest rates in the US, emerging markets have been finding…

New chairman of Labuan Financial Services Authority

New chairman of Labuan Financial Services Authority

New chairman of Labuan Financial Services Authority

The Labuan Financial Services Authority has a new chairman, with the appointment of Datuk Oh Chong Peng. The appointment, which began on 16 October 2018 and runs until 15 February 2020, has been approved by the minister of finance. The Labuan Financial Services Authority said that Mr Datuk Oh has wide experience in financial and other business sectors. He is…

Climate risk disclosure – a globally coordinated approach by regulators?

Climate risk disclosure – a globally coordinated approach by regulators?

Climate risk disclosure – a globally coordinated approach by regulators?

With the world’s leading climate change scientists warning that the world has only 12 years to limit a climate change “catastrophe”, in the UN Intergovernmental Panel on Climate Change, published on 8 October, the focus on climate change has never been higher and regulatory scrutiny of how businesses assess and disclose their climate change risk exposures is set to increase…