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Zurich Financial CEO sees growth potential in Asia but faces environmental risks

Zurich Financial CEO sees growth potential in Asia but faces environmental risks Zurich Financial Group CEO James Schiro said there is substantial growth potential in Asia in life, motor and property insurances, with only 1 pct of natural disasters insured. This compares to a rate of around 40 pct in developed countries, he said. On the downside, growing environmental damage -- caused by the region's enormous growth -- is causing more natural disasters, he cautioned in an interview with Swiss SonntagsZeitung. Zurich's growth rate in past years has been smaller than previously as the group closed down a number of

Asia shares gain on US jobs data

Asia shares gain on US jobs data Asian stocks rose more than 1 per cent on Monday as strong US jobs data late last week buoyed hopes that consumers there would buy more Asian goods, and oil prices dropped further below $60 a barrel. Gold jumped more than $3 an ounce after dropping on Friday when the dollar surged on stronger-than-expected February US payroll numbers. By 0215 GMT, the dollar was a little off late last week's near five-week high against the yen. The Nikkei share average was up 1.4 per cent at 16,334.08 at the mid-session, extending last week's 2.9

HK economy perform best since Asia Financial Crisis: Tsang

HK economy perform best since Asia Financial Crisis: Tsang The Hong Kong economy has recovered to its best performance since 1997 and is expected to maintain the momentum in 2006, said Donald Tsang, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), on Thursday. The Hong Kong economy has sustained robust expansion under low inflation over the past two years, the best performance since the city was hit by the Asia Financial Crisis in 1997, Tsang told the Legislative Council (LegCo). Hong Kong's economic development is now gaining momentum with last

If Asia stays right in 2006, so will the world economy

If Asia stays right in 2006, so will the world economy With a couple of notable exceptions 2005 was a good year for the world economy. Despite rising US interest rates and soaring oil prices there was rapid growth in the US and even more rapid growth in China and India. Emerging Asia did well too and Japan managed faster growth than either the UK or the eurozone. The exceptions were the European big three and the UK. In Europe Germany barely reached 1 per cent growth, Italy barely grew at all and France seems to have grown by little more

Asia’s taut job market triggers price concern

Asia's taut job market triggers price concern It's a good time to be job hunting in Asia. The number of new jobs created in Singapore is at its highest since 1997, Taiwan's unemployment rate is at a five-year low, Thailand's is near record lows and wages in Hong Kong are rising. But that also means inflation-wary central banks have to be even more on their guard as a tight labor market approaches the point where price pressures can build, economists say. Most Asian economies have been growing by more than expected, pushing unemployment rates down and wage pressures up. Even in Japan, which until recently