Asia will add 1.66 million dollar-millionaires by 2015, taking the total number of wealthy to 2.82 million as the world’s fastest-growing major economies of China and India continue to mint millionaires, a report from Julius Baer said on Wednesday. The …
Typhoon Nanmadol headed to southeastern China on Monday after dumping more than 20 inches (half a meter) of rain in southern Taiwan, where wide swaths of agricultural land were flooded and some 8,000 people evacuated. The storm skirted Taiwan’s southwestern …
Ping An Insurance Co. of China Ltd. said Thursday its fast-growing banking business helped to boost profit for the first half by nearly 33 percent. Profit for the six months ending June 30 was 12.8 billion yuan ($1.9 billion), Ping …
Chinese Vice-Premier Li Keqiang said China will soon allow foreign investors to buy mainland securities using yuan up to an initial quota of 20 billion yuan ($3.1 billion), a move aimed at promoting international use of the Chinese currency. Li …
Insurance Australia Group Limited (IAG) announced it has agreed to acquire a 20 percent strategic interest in China’s Bohai Property Insurance Pty Ltd., a general insurer IAG said it would pay RMB687.5 million (approximately A$100 million [US$104.3 million]) for the …
A Chinese bullet train manufacturer has halted some production while it investigates repeated breakdowns on the new Beijing-Shanghai line. China North Locomotive and Rolling Stock’s announcement is the latest setback for China’s ambitious high-speed rail plans following a July 23 …
Reinsurance broker Aon Benfield has sponsored the third edition of the Atlas of Natural Disaster Risk in China, a Chinese government research project that for the first time looks at how hazard, vulnerability and exposure integrate to help implement more …
Catastrophe modeling firm AIR Worldwide is currently tracking Typhoon Muifa as it moves across the Pacific Ocean towards mainland China, after delivering heavy rain to the Philippines Tuesday and Wednesday. Muifa is forecast to make landfall south of Shanghai this …
A major new hacking attack underscores that governments and companies are losing the war against cyber thieves, but it’s unclear if the disclosure will prompt quicker global action against online break-ins. A U.S. report that intruders breached the computer networks …
Security experts have discovered the biggest series of cyber attacks to date, involving the infiltration of the networks of 72 organizations including the United Nations, governments and companies around the world. California-based security company McAfee, which uncovered the intrusions, said …
