World Bank withdraws support for oil, gas industries
Businessam Staff
January 22, 2018
The World Bank, which provides developing countries about US$60 billion a year in financial assistance, is officially phasing out its support for the oil and gas industries. This move brings its actions more in sync with its overarching commitment to slowing the pace of climate change and keeping the Paris agreement on track. Based on research regarding international relations, this move – which World […]
High fees, suspicious banks hinder UK investors from cashing out bitcoin profits
Businessam StaffJanuary 17, 2018
British investors who want to cash out of cryptocurrencies into pounds are facing the hurdles of having to make international money transfers, being charged high fees and drawing the suspicion of banks, according to a Financial Times report. Sales of cryptocurrencies, which include bitcoin and Ethereum, are commonly made through platforms known as exchanges. But […]
Shipowners at risk of losing insurance cover as IMO introduces more stringent sulphur emissions regulations
Businessam StaffJanuary 16, 2018
Shipowners could find that their vessels are deemed unseaworthy and their insurance cover is affected by failing to comply with more stringent sulphur emissions (SOx) regulations, according to insurance broker Marsh. The International Maritime Organisation (IMO) is introducing measures to reduce the sulphur footprint of commercial shipping vessels. Under Annex VI of the IMO’s International […]
Global economy set for decade of gloom as World Bank predicts recovery set to fizzle out
Businessam StaffJanuary 10, 2018
The global economy will fizzle into a decade of sluggish growth in the 2020s as the current upswing fades and a slowdown in population kicks in, the World Bank has warned. Its analysts expect the world economy to grow 3.1 percent this year, following a strong 2016 as the shadow of the financial crisis is […]
Global economy’s steady growth facing three big risks in 2018
Businessam StaffDecember 19, 2017
After a year of relatively healthy global economic growth, economists are predicting pretty much the same for 2018 — a neither too-hot nor too-cold Goldilocks scenario, but with little sight of the three bears. The idea is that all is pretty much on track for growth that will be stronger than in 2017. Part of […]
Mercer global assets under delegated management grows to more than $200bn
Businessam StaffDecember 5, 2017
Mercer, a global consulting leader in advancing health, wealth and career and a wholly owned subsidiary of Marsh & McLennan Companies Tuesday announced its global assets under delegated management has reached approximately $213 billion. “Since its inception, our delegated solutions business has evolved to meet our clients’ needs, and the growth of this business reflects […]
Global demand for air travel up 7.2 percent in October after September weather disruptions
Businessam StaffDecember 4, 2017
Global demand for air travel climbed 7.2 percent in October, rebounding after September was disrupted by hurricanes, the International Air Transport Association (IATA) said Monday. “As expected, the recent severe weather in the Americas region had only a temporary impact on the healthy travel demand we have seen this year,” Alexandre de Juniac, IATA’s CEO said. […]
What 375 million people will have to do when robots take their jobs
QUARTZNovember 30, 2017
By 2030, as many as 375 million workers—or 14% of the global workforce—could be useless in their jobs, thanks to automation. That figure comes from the McKinsey Global Institute, which released a report today (Nov. 29) looking at the displacement that automation will cause in the near future. Research analysts from the consultancy firm estimate […]
Here are Goldman’s top trades for 2018
Businessam StaffNovember 19, 2017
In 2018, Goldman Sachs Group Inc. is doubling down on the global economy. “Late-cycle optimism” is the chief theme underpinning the bank’s seven top trade theses, as outlined in a note Thursday by Francesco Garzarelli, co-head of global macro and markets. Goldman’s stance is far from “America First.” In risk assets, its strategists favour emerging markets; […]
The world’s richest oil moguls gain after Saudi crackdown
Businessam StaffNovember 8, 2017
Market reaction to Saudi Arabia’s stunning anti-corruption raid has been a boon to some billionaires and a curse to others. On the winning side are the world’s wealthiest oil tycoons. Crude prices rallied to a two-year high on Nov. 6 in the aftermath of the Saudi arrests, boosting the combined net worth of 21 oil […]