Asia News

Coal and Cattle Lead Business Damage to Nature: Study

Coal-fired power generation in Asia and cattle ranching in South America are the most damaging businesses for nature with hidden costs that exceed the value of their production, a U.N.-backed report said on Monday. Global output of basic goods from …

Asia’s Insurers Beef Up as Bankers Face the Axe

Slowing economic growth across much of Asia has failed to crimp expansion plans by the region’s insurance companies, even as the rest of the financial industry slashes jobs. While banks and brokerages cut costs and jobs in Asia amid falling …

Thai Floods Impact May Last Longer than Japan’s Disaster

The impact from Thailand floods on Asia’s production networks may last longer and be deeper than that from Japan’s March earthquake, tsunami and nuclear crisis, a senior Asian Development Bank official said on Tuesday. Iwan Azis, head of ADB’s Office …

AIG Loses $4B on Planes, Weak Markets

Insurer American International Group lost more than $4 billion in the third quarter, as its aircraft leasing unit took an impairment charge on a portion of its fleet and the fair value of the company’s one-third stake in Asian insurer …

Scientist: German Satellite Must Have Crashed into Asia

A defunct German research satellite crashed into the Earth somewhere in Southeast Asia on Sunday, a U.S. scientist said – but no one is still quite sure where. Most parts of the minivan-sized ROSAT research satellite were expected to burn …

Cat Report: Asia Monsoon Economic Losses Near $7B

Seasonal monsoonal rains triggered significant flooding and landslide events throughout parts of Asia in September totaling nearly $7 billion in economic losses, with China, Thailand, India, Pakistan and Cambodia particularly affected, according to the latest edition of the Monthly Cat …