A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb+” from “a-” of Egypt’s Misr Insurance Company, and has revised its outlook on both of the ratings from …
The Bill & Melinda Gates Foundation, best known for its work combating malaria, AIDS and other diseases, announced an effort this week to bring financial services, including savings accounts, to the poor. It may be hard to understand how savings …
Slum-dweller Krustin bin Juri lost everything when floodwaters swept through his home and shop on the banks of Jakarta’s filthy Ciliwung river two years ago. But when the next flood hits, and it will because Jakarta sees frequent floods in …
Foreign navies have agreed to protect a vessel installing an undersea high-speed Internet cable from pirates off the coast of Somalia, a Kenyan minister said on Thursday. Sea gangs from lawless Somalia have been increasingly striking the Indian Ocean shipping …
Somali pirates hijacked two more cargo vessels and opened fire on two others Tuesday in attacks that showed a determination to go on striking at shipping on the region’s strategic trade routes. The capture of the Greek-owned MV Irene E.M. …
The president of Mobile-based International Shipholding Corp., which manages the M/V Maersk Alabama for owner Maersk USA, said a multinational coalition must respond to Somali piracy. ISH President Erik L. Johnsen said one country cannot stand alone against pirates like …
Navy commandos stormed a French sailboat held by pirates off the Somali coast in an assault triggered by threats that the passengers would be executed. But one hostage was killed in the operation, demonstrating the risks of a military operation …
U.S. warships stalked a drifting lifeboat where Somali pirates were holding their first American hostage on Friday, apparently hoping to win a promise of safe passage in exchange for the captive. Four pirates have been holding ship’s captain Richard Phillips, …
Pirates seized a British-owned ship and a Taiwan-registered fishing boat after taking three vessels last weekend, officials said on Tuesday, marking a jump in the number of hijackings in the waters off Somalia this year. In the first three months …
Somali pirates have seized a 20,000-tonne German container vessel in their latest attack on the Indian Ocean’s busy commercial shipping lanes, a regional maritime group said Sunday. Heavily armed gangs from the lawless Horn of Africa nation hijacked dozens of …
