Bloomberg Indonesia, the world’s largest palm-oil producer, has cut the cost assumption of converting crude palm oil into biodiesel by 20% to $80 per metric ton, according to the Energy and Mineral Resources Ministry. The revision, effective this month, is needed to ensure the mandatory program to blend 30% of palm-biofuel with 70% gasoil, known as B30, continues even as ...

Bloomberg Crude oil led a recovery in China’s energy imports, rising to a record and feeding a rebound in industrial and consumer activity as restrictions to stop coronavirus infections ease. Imports rose to 47.97 million tons in May, or 11.3 million barrels a day, according to customs data. Ship-tracking data show tanker arrivals last month rose to pre-virus levels, as ...

A small fraction of a large number can be a significant number. So, although the fact that there are a significant number of ninnies among the 329 million people in this country is embarrassing, it is not surprising. What is puzzling is that specimens such as Defense Secretary Mark Esper and Gen Mark A Milley, chairman of the Joint Chiefs ...

Vietnam is pulling ahead in the race to reopen Southeast Asia to city-hoppers and sunseekers. International arrivals were down 98% in May from a year earlier, after a record 2019. Yet success in containing the coronavirus epidemic means domestic travel has already restarted. Thailand, by comparison, is still under a state of emergency, and other neighbours in the tourism-friendly region ...

Warren Buffett says “nothing can stop America.” To put his money where his mouth is and spend some of his $137 billion stash before this crisis is over, he wouldn’t have to look far. If there’s one company that warrants the dealmaker’s attention, it may be Costco Wholesale Corp, a retailer in which Buffett’s Berkshire Hathaway Inc already owns a ...

The many demonstrations on the streets of the US fill with both hope and dread. More Covid-19 cases would kill more people, and African-Americans die disproportionately from the disease. They also suffer a disproportionate financial burden from the economic slowdown caused by the virus. This pandemic really must be brought to an end sooner rather than later. So if you ...

Bloomberg The coronavirus pandemic has left Malaysia’s palm oil industry without enough workers, a shortage that could cost farmers as much as 25% of their annual production — a loss worth about $2.8 billion. Malaysia’s economy relies on palm oil, its most important agricultural commodity, but palm oil needs migrant workers from Indonesia, Bangladesh and India to do jobs locals ...

Bloomberg China, the world’s largest copper consumer, imported less metal and concentrate last month as pandemic-driven lockdowns in overseas mining regions disrupted supplies. Copper concentrate imports were 1.69 million tons in May, down from 2.03 million tons in April and 1.84 million tons a year ago, according to customs data. Unwrought copper and products purchases were 436,031 tons, falling from ...

Bloomberg A group led by Silver Lake Partners agreed to invest another 45.5 billion rupees ($602 million) in Indian conglomerate Reliance Industries Ltd’s digital arm, in the latest vote of confidence in billionaire Mukesh Ambani’s online push. The US private equity firm and its co-investors will hold a 2.1% stake in Reliance’s Jio Platforms unit, according to a Mumbai exchange ...

Bloomberg China’s trade surplus surged to a record in May as exports fell less than expected, helped by an increase in medical-related sales, and imports slumped along with commodity prices. Exports decreased 3.3% in dollar terms from a year earlier, beating economists’ estimates, while imports plunged 16.7%. That resulted in a trade surplus of $62.93 billion. The record surplus comes ...