Finance & Economics
ARTICLES
Indonesia give green light to the Singapore-Australia undersea powerline
Indonesia Government has given it’s support behind the Sun Cable’s Australia-Asia Powerlink (AAPowerLink) that would route solar powered electricity through Indonesia water to Singapore directly from Darwin, Australia. On the 23/09/2021 – Sun Cable announced a long term partnership with the Indonesian government which will include investment and jobs, knowledge sharing with academic institutions and…
[ ABC Rural ] Coking coal price hits record highs as Chinese steel-makers face pain
The price of metallurgical coal has risen to record levels as trade tensions and border problems push the cost for Chinese importers sky-high Coal for coking purposes has soared despite declines in iron ore values attributed to Chinese steel-makers abiding by a government directive to avoid buying from Australia. The value has surged to $US410 a tonne…
Singapore to donate 60,000 doses of AstraZeneca vaccine to Batam, Indonesia
According the Antara News, the Batam Mayor Muhammad Rudi announced that Singapore government plans to provide 60,000 doses of AstraZeneca COVID-19 vaccine to the Singapore’s neighbouring island of Batam, a major city of Riau Islands, Indonesia. According to the Mayor, Singapore’s requirement for reopening of the Batam-Singapore border depends on Batam reaching 80% vaccination of…
Guinea coup: China’s bauxite conundrum?
According to worldatlas.com, Guinea is the 4th biggest exporter of bauxite, an alumnium ore. With 19.3 million metric tons produced annually, Guinea is also reputed to be the largest bauxite deposits in the world. (these numbers from worldatlas.com are outdated by the way ; but included for now just for context) With the economic warfare…
[ Forbes ] El Salvador Goes On A $21 Million Crypto Buying Spree As Bitcoin Becomes Legal Tender
El Salvador acquired roughly $21 million worth of bitcoin on Monday, President Nayib Bukele announced, buoying the crypto market ahead of making history Tuesday by becoming the first country in the world to formally adopt the digital currency as legal tender. El Salvador bought its first 400 bitcoins in two lots on Monday—worth an estimated $21 million…
[ SCMP ] Singapore residents who took Sinovac turn to Pfizer to up their antibody counts, amid debate on booster shots
Even after receiving her second dose of the Sinovac vaccine last month, Soh, a 43-year-old Singaporean, was unsure about her immunity levels. So she went to get an antibody test – and the result took her by surprise. Her antibody count stood at 140, a figure her doctor said was about 10 times lower than what someone…
[ Reuters ] Taliban launch charm offensive with Afghan banks amid funding fears
The new, Taliban-appointed head of Afghanistan’s central bank has sought to reassure banks the group wants a fully-functioning financial system, but has so far provided little detail on how it will supply funds to sustain it, said four bankers familiar with the matter. The acting central bank governor, Haji Mohammad Idris, met members of the…
[ Reuters ] U.S. blocking Chinese acquisitions of global tech firms a “red flag” – Chinese state-backed tabloid
Chinese state-backed tabloid the Global Times called U.S. efforts to block cross-border acquisitions of tech companies a “red flag” that impedes China’s tech sector and disrupts the growth of the global tech sector. The outlet, which is published by the People’s Daily, China’s official newspaper for the ruling Communist Party, argued a recent attempt to…
[ The Independent ] New Covid-19 variant with multiple mutations sparking concerns
South African scientists have identified a new coronavirus variant – its number of mutations sparking concerns. First identified in the South African provinces of Mpumalanga and Gauteng, the variant, called C.1.2, is more highly mutated than others flagged by the World Health Organization (WHO). Since being identified, the variant has spread to most South African provinces and…
[ WSJ ] China Plans to Ban U.S. IPOs for Data-Heavy Tech Firms
China plans to propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the U.S., people familiar with the matter said, a move that is likely to thwart the ambitions of the country’s tech firms to list abroad. In recent weeks, officials from China’s stock regulator have told…
[ Vulcan Post ] Binance CEO worked at McDonald’s, now he’s a crypto billionaire and one of Singapore’s richest
Most recently, Binance founder and CEO Zhao Changpeng (also known as “CZ”) was a new entrant to Forbes’ Singapore’s 50 Richest 2021 list, where he took the 22nd spot. The 45-year-old amassed a net worth of US$1.9 billion (as of 10 August 2021), thanks in part to an estimated 30 per cent stake in his company.…
[ BBC ] Pfizer becomes first Covid vaccine to gain full FDA approva
Pfizer’s two-dose Covid-19 vaccine has received full approval from the US Food and Drug Administration (FDA) – the first jab to be licensed in the nation. The vaccine had initially been given emergency use authorisation. Its two jabs, three weeks apart, are now fully approved for those aged 16 and older. In a statement, the…
[ Bloomberg ] China is blocking fleeing Hong Kongers from getting their retirement money
As tens of thousands flee Hong Kong for a new life in the UK, they’re confronting the risk that they will be forced to leave behind their retirement savings as China intensifies its crackdown on the city’s freedoms. Scores are being denied access to money in the Mandatory Provident Fund because of the cascading impact…
[ Decrypt ] Dogecoin Foundation Returns With Elon Musk Rep, Ethereum’s Vitalik Buterin as Advisors
The core developers behind Dogecoin, the meme cryptocurrency that seeks to be a global payment method, have announced the members of the renewed Dogecoin Foundation. Its new advisory board includes Ethereum co-founder Vitalik Buterin and Elon Musk representative Jared Birchall, according to a statement shared today by the foundation. Three prominent Dogecoin community members, Gary Lachance, Jens Wiechers…
[ BBC ] UK blood supplies to be used to make life-saving drug
Plasma from blood donations in England will be used to make a vital medicine, following a rule change to reduce reliance on imported stocks. Each year about 17,000 people need immunoglobulin treatment and, until recently, there was a ban on using plasma from UK donors to safeguard against vCJD or “mad cow disease”. Officials say…
[ Noahpinion] Why is China smashing its tech industry?
For those outside China’s byzantine, opaque nexus of party, government, and big business, it’s very difficult to figure out what’s going on. Just who is ordering these actions is not clear, or what the ultimate result of the crackdown will be. That makes it very hard to figure out why it’s happening. Some observers see this as an…
[ MalayMail ] Johor MP wants Malaysians working in Singapore to get Pfizer Covid-19 jabs instead of Sinovac to prevent commuting hassle
Covid-19 vaccines produced by Pfizer should for now be given to Malaysians who work in Singapore instead of those produced by Sinovac to ensure recognition by Singapore, Kulai MP Teo Nie Ching said today. Teo today sought for assistance and assurance from Khairy Jamaluddin — the coordinating minister for Malaysia’s National Covid-19 Immunisation Programme —…
[ Today ] Cash-rich Singapore Airlines aims for regional dominance as rivals pull back
Singapore Airlines, flush with US$16 billion (S$21.63 billion) raised since the start of the pandemic thanks to help from a state investor, is in a position of dominance among its Southeast Asian rivals as they downsize and restructure. The crisis threatened the survival of hub carriers that lack domestic markets such as SIA, Hong Kong’s…
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