July, 2022

• 5 July

  Russia’s crude oil shipments to crucial Asian markets fall

  

    Bloomberg Russia’s seaborne crude exports in the seven days to July 1 rebounded from the previous week’s plunge, but shipments to Asia are slipping, even as flows are diverted to the country’s Black Sea terminal to cut the voyage distance to India. Aggregate crude flows from Russian ports were up week-on-week by 23%, recovering most of the volume lost ...

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• 5 July

  Natural gas in Europe rises to highest level in almost four months

  

    Bloomberg Natural gas in Europe rises to the highest level in almost four months as planned strikes in Norway threaten to further tighten a market that’s already reeling from Russia’s supply cuts. Benchmark futures, which have more than doubled this year, surged as much as 10% on Monday. About 13% of Norway’s daily gas exports are at risk amid ...

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• 5 July

  Your old fridge is Vladimir Putin’s friend. Dump it!

  

  Negative oil prices were one of the craziest moments ever in the energy market. At one point in April 2020, a seller paid a buyer $40 for a barrel of West Texas Intermediate. We’re going to need another crazy moment if Europe is going to make it through the winter. How about this: Pay consumers not to consume electricity. A ...

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• 5 July

  Beverly Hills of S’pore shows froth signs

  

  Les Maisons is a low-rise development of just 14 units coming up on Nassim Road, a leafy street nestled between the bustling shopping district of Orchard Road on one end and the expansive quiet of the Singapore Botanic Gardens on the other. As Business Insider described it, Nassim is the Lion City’s very own Beverly Hills. And right now, property ...

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• 5 July

  How to reverse the West’s creativity crisis

    Societies can suffer from famines of the mind as well as famines of the belly. Ideas wither on the vine; plants turn into husks; fields lie fallow; and before long the economic growth that ultimately feeds on the imagination stalls. This is what is happening to the world’s imaginative life, most notably in the West, which since the days ...

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• 5 July

  Start planning Ukraine’s reconstruction now

    Four months of fighting in Ukraine has brought staggering levels of destruction, from bridges to homes, hospitals and shopping malls. A recent estimate from the head of the European Investment Bank put the cost of rebuilding at more than $1 trillion. With millions of citizens displaced and the country’s infrastructure in ruins, Ukraine will be unable to support itself ...

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• 5 July

  Hong Kong’s dry spell for IPOs set to end with big China deals

  

  Bloomberg After a dismal first six months, things are finally looking up for initial public offerings in Hong Kong as several large Chinese firms line up to list in Asia’s financial hub in the second half. Battery materials producer Tianqi Lithium Corp just opened its books for what is set to be the city’s first billion-dollar deal this year while ...

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• 5 July

  Thai mobile operator to buy internet firm

  

    Bloomberg Advanced Info Service Pcl, Thailand’s biggest mobile phone operator, plans to expand its network by acquiring Triple T Broadband Pcl and an infrastructure fund for a total of 32.4 billion baht ($908 million). The Bangkok-based company will buy internet provider Triple T from Jasmine International Pcl for 19.5 billion baht, Chief Financial Officer Tee Seeumpornroj said. It will ...

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• 5 July

  China to invest $3b with Indonesia’s wealth fund

    Bloomberg China’s Silk Road Fund signed a deal with Indonesia’s wealth fund to make joint investments that strengthen economic links between the two countries. China’s state-owned investment fund plans to invest up to 20 billion yuan ($3 billion) or the equivalent amount under the framework agreement, said President Yanzhi Wang in a joint statement. The Indonesia Investment Authority, or ...

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• 5 July

  Sri Lanka offers fuel quotas to firms that can pay in dollars

  

    Bloomberg Bankrupt Sri Lanka is offering a guaranteed fuel quota to any company that can pay in dollars. Potential purchasers must pay as much as a month in advance to open a consumer account at state-run Ceylon Petroleum Corp, Energy Minister Kanchana Wijesekera tweeted. Fuel will be issued on a daily or weekly basis from July 12, according to ...

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