Adam Tooze
In the final weeks of 2020 an optimist might see light at the end of the tunnel. Europe was hit hard by the second wave of Covid-19. But it is being brought under control. Several vaccines are in the pipeline and European manufacturers lead the race. Inoculation of the most vulnerable may begin even before the year is out. Then restrictions can be lifted. Social life will get back to normal.
This optimistic narrative is indeed itself a force to be reckoned with. As a self-fulfilling prophecy, it helps to bolster confidence and with it economic recovery.
By analogy with the timeline of the eurozone crisis, one might think that we are back, eight years ago, in late 2012, in the months after the president of the European Central Bank, Mario Draghi, had cast a magic spell with his ‘whatever it takes’ commitment. For tens of millions of Europeans, the economic pain continued. But the panic was stopped. The foundation for a recovery had been laid.
Insurance Bill 2020 taken through consideration stage
Parliament has taken through the consideration stage, the Insurance Bill, 2020 targeted at increasing insurance penetration in the country which currently remains low, as the Bank of Ghana’s Financial Stability Review pegs insurance coverage at one percent of Gross Domestic Products (GDP).
The Bill, meant to replace the Insurance Act of 2006, Act 742 is expected to ensure that the insurance industry is regulated in accordance with the international framework and acceptable supervisory standards.
It also seeks to mandate insurance companies to comply with international best practices aimed at protecting premiums of customers and was laid in the House on 20th October 2020 by Finance Minister, Ken Ofori-Atta and read the second time on Monday, December 14, 2020.
Parliament of Ghana
Insurance Bill, 2020 Taken Through Consideration Stage 21-12-2020
Parliament has taken through the consideration stage, the Insurance Bill, 2020 targeted at increasing insurance penetration in the country which currently remains low, as the Bank of Ghana’s Financial Stability Review pegs insurance coverage at one percent of Gross Domestic Products (GDP).
The Bill, meant to replace the Insurance Act of 2006, Act 742 is expected to ensure that the insurance industry is regulated in accordance with international framework and acceptable supervisory standards.
It also seeks to mandate insurance companies to comply with international best practices aimed at protecting premiums of customers and was laid in the House on 20th October, 2020 by Finance Minister, Ken Ofori-Atta and read the second time on Monday December 14, 2020.
Are Aussies up for another credit tightening?
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Bianca Dabu
Bianca Dabu
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Housing debt comprises most of the debt held by households, putting home owners at risk as debt levels reach a 30-year high. Could this trigger another round of credit tightening?
According to CoreLogic’s latest Property Pulse from November 2020, housing debt comprises around 76 per cent of overall household debt. Looking back 30 years ago, housing debt comprised a much smaller 46 per cent of overall household debt.
Recent figures from the Australian Bureau of Statistics also show that the median value of debt held against owner-occupied dwellings was $102,600, compared with a median debt level of $5,000 for student loans, $3,000 on credit cards and $3,700 on car loans.
Investors increasingly back ESG-friendly companies, more transparency still needed
December 19, 2020
Sustainability funds need to be more transparent in the stocks they hold to ensure investors are completely aware of where their money is going.
30SHARES
As Australia stares down the barrel of another bushfire season, and coronavirus continues its global rampage, retail investors are increasingly voting with their feet and putting their cash behind funds and stocks with favourable environmental, social and corporate governance policies.
ESG compliance has gained momentum over the past decade pushing companies to improve on their environmental and social policies while increasing transparency – however, more is needed.