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Bloomberg Already, 2022 is taking its place in a pantheon of years that have seen the nature of fire change — and all parts of the world fall under threat. It’s only expected to get worse, with drought and heat waves looming over the horizon for many parts of the globe. At the epicenter of the fury will be the ...
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May, 2022
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16 May
The machine that brought ‘Bongbong’ to victory
In the days following the landslide victory of Ferdinand Marcos Jr, friends and colleagues in the US and Europe with memories of his father’s kleptocracy asked me how this could have happened. With all the forces working in Marcos’s favour, a more pertinent query might be: What was going to stop it? If you spent time before the Philippines’s ...
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16 May
Tesla hedging global supply chain bets
From India to Indonesia, Elon Musk is scouting out sites to make more Teslas for global roads. With the world mired in supply chain chaos, access to materials matters most. He’s got it right. After lobbying against India’s tight policies around manufacturing and prohibitive import duties, Musk is headed to meet Indonesia’s President Joko Widodo and visit several areas across ...
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16 May
SEC is stuff of Chinese investors’ fever dreams
In recent days, about half a dozen investors in Hong Kong and New York who blame the US Securities and Exchange Commission for the recent selloff in China’s technology companies were being spoken to. They say they’ve spotted a pattern: provisional delisting announcements by the Washington regulator have tended to precede a drop in the broader market. On March ...
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16 May
How Russian is it?: A very crude question
Sunday was the day when European Union regulations prohibiting dealings with Russian state energy companies come into effect. That should trigger a further decline in the volume of crude and refined products bought and traded by European companies, but it won’t bring flows to a halt. Even when, or if, the EU finally imposes sanctions on the purchase of ...
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16 May
World’s food problems piling up as India restricts wheat exports
Bloomberg India’s move to restrict wheat exports is set to reverberate through global agricultural markets, exposing just how tight global supplies are after the war in Ukraine and threatening to drive up food prices even more. The government said in a notification it will suspend overseas sales to manage its food security. This drew criticism from the agriculture ministers of ...
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16 May
Early monsoon in India to give heat relief, spur sowing
Bloomberg India’s monsoon will arrive early this year, providing much-needed relief after a record-breaking heat wave damaged crops and threatened the health of millions of people across the region. The mercury surged as high as about 48 degrees Celsius (118 degrees Fahrenheit) in some parts this month, after the average temperature soared in March to the highest ever for the ...
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16 May
Singaporeans are dashing for passports as borders reopen
Bloomberg Singaporeans are flocking to apply for passports after travel restrictions eased, unlocking pent-up wanderlust after two years of Covid-19 restrictions. The number of passport applications has spiked to more than 7,000 a day, peaking at 14,000, according to the Immigration & Checkpoints Authority, which described the surge as “overwhelming.†That compares with about 2,000 a day before the ...
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16 May
Sarawak in talks to form sovereign fund
Bloomberg The Malaysian state of Sarawak is in talks with Norway about setting up a sovereign wealth fund, Premier Abang Johari Tun Openg said in a statement. Sarawak, home to some of the biggest aluminum smelters and hydroelectric dams in Southeast Asia, would try to achieve the same standard and success of Norway’s sovereign wealth fund, the premier said ...
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16 May
Asia starts paying attention to ESG as climate change issue
Bloomberg Hiro Mizuno, former chief investment officer of Japan’s GPIF, the world’s largest pension fund, has recounted how Kofi Annan once said to him that Asian nations were a “desert†of responsible financing. Mizuno told the story in 2019, two years after he began to champion investing based on environmental, social and governance metrics. Things have changed since then. ...
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