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Tag: trade

IRDAI issues draft guidelines on trade credit insurance

IRDAI issues draft guidelines on trade credit insurance

Finance
IRDAI on Wednesday proposed a regulatory framework to facilitate general insurance companies to offer trade credit insurance covers to suppliers as well as licensed banks and other financial institutions to help businesses manage country risk. Trade credit insurance protects businesses against the risk of non-payment for goods and services by buyers. It usually covers a portfolio of buyers and indemnifies an agreed percentage of an invoice or invoices that remain unpaid as a result of protracted default, insolvency / bankruptcy. Based on the recommendations of a working group on revisiting guidelines on trade credit insurance, the Insurance Regulatory and Development Authority of India (IRDAI) has now come up with draft guidelines on trade credit insurance. IRDAI said the proposed guidel...
Pub trade calls time on ‘triple whammy’ of new COVID reopening rules

Pub trade calls time on ‘triple whammy’ of new COVID reopening rules

Business
The pub trade has reacted angrily to the prospect of a "triple whammy" of new coronavirus restrictions when sites reopen in England, warning they risk further damage to businesses after a year of disruption.Hospitality industry representatives have written to the prime minister to express their outrage at new guidance governing the start of outside-only trade - due from 12 April under Boris Johnson's roadmap. One major concern is that every customer aged 16 or over should now provide contact details to staff, either via the NHS COVID-19 app or in person, in a change from rules last year which covered just one member of a group. Image: Pubs can start serving outdoors from 12 April in England but it remains unclear if people can pay inside ...
Mummified parrots suggest ancient trade routes crossed South American desert

Mummified parrots suggest ancient trade routes crossed South American desert

Science
March 29 (UPI) -- The recovery of ancient mummified parrots in South America, dating to between 1100 and 1450 AD, suggest trade routes crossed the Atacama Desert, according to a study published Monday in PNAS. "Feathers are valued across the Americas and we see them in high-status burials," José M. Capriles , said in a press release. Advertisement "We don't know how the feathers got there, the routes they took or the network," Capriles, an assistant professor of anthropology at Pennsylvania State University. Northern Chile's Atacama Desert is the driest desert in the world, and parrots and macaws are not normally found in the region. However, archaeologists have unearthed the feathers of the exotic birds at human burial sites, as well as the mummified remains of parrots and macaws. Scien...
Report: North Korea’s trade with China declined 80% in 2020

Report: North Korea’s trade with China declined 80% in 2020

Business
Feb. 22 (UPI) -- Two-way trade between North Korea and its biggest partner, China, fell 80.7% in 2020 amid the coronavirus pandemic, according to estimates from Seoul's Korea Trade-Investment Promotion Agency. North Korea imported about $ 491.06 million of goods from China last year, while exporting only $ 48 million of commodities and products to its neighbor, the Seoul agency's Shenyang branch said, Seoul Pyongyang News reported Monday. Two-way trade was about $ 539.06 million, reflecting a steep decline from the previous year, the report said. Advertisement Trade activity dropped significantly in February 2020, with two-way trade falling to $ 10.71 million in the immediate aftermath of the coronavirus epidemic that began in Wuhan, China. North Korea shut its 880-mile border with China ...
Lloyd’s seeks archivist to investigate slave trade links

Lloyd’s seeks archivist to investigate slave trade links

Business
Getty ImagesInsurance market Lloyd's of London is seeking an archivist who would examine its artefacts for historical links to the slave trade.It has posted an advert for an expert to investigate its collection of more than 3,000 items, including paintings, swords and furniture.It is not yet clear what will happen to the objects following the research.Last June, Lloyd's apologised for its "shameful" role in the trans-Atlantic slave trade.Lloyd's, which was founded in 1688, insured slave ships. It is often lauded as the world's leading insurance market, focusing on specialist areas, such as marine, energy and political risk.Journals published by the insurance market in the 18th and 19th Centuries also often contained advertisements for slave ships.The new recruit to the Lloyd's archives wil...