Bloomberg The earthquake that struck New Zealand this week could cost the insurance industry as much as NZ$5.3 billion ($3.7 billion), according to catastrophe modeler AIR Worldwide. The insured losses will be at least NZ$1.15 billion, the unit of Verisk Analytics Inc. said in a statement on its website. Most damage to residences will be covered by the Earthquake ...

  Colombo / AFP Sri Lanka’s economy has begun to stabilise after securing a $1.5 billion bailout earlier this year, but the island needs to build its dwindling foreign reserves, the IMF said on Saturday. The Washington-based International Monetary Fund said it had just concluded its first review of Sri Lanka’s economy after announcing the bailout in June and labelled ...

  Bloomberg Turkey’s top policy board chaired by Prime Minister Binali Yildirim said after a surprise meeting that the central bank will take any measures necessary to keep inflation under control. Economy Coordination Board met in Ankara to discuss how to insulate the economy from the recent volatility in financial markets, which policy makers decided were mostly due to global ...