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☆ Gold near record high as inflation risk lifts safe-haven appeal
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices held steady on Wednesday near a record peak hit in the previous session, as a favourable mix of emerging inflationary risks and ongoing geopolitical tensions underpinned the safe-haven metal. Spot gold was little changed at $2,351.94 per ounce, as of 0339 GMT, after hitting a record high of $2,365.09 on Tuesday. Strong central bank buying, safe-haven inflows amid elevated geopolitical risks, and demand from momentum-following funds have fuelled bullion's 14% gain so far this year. Spot silver was little changed at $28.15 per ounce, after hitting its highest levels since June 2021 on Tuesday.

Persons: Soni Kumari, ANZ Kumari Organizations: Co, ANZ, Federal, Fed Locations: Bangkok, Thailand, ., U.S

☆ Oil prices bound for second weekly gain on geopolitical tension, supply concerns
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve. Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve. Heavy oil supply has also tightened globally after Mexico and the United Arab Emirates cut exports of these grades. This comes amid solid global oil demand growth of 1.4 million barrels per day (bpd) in the first quarter, JP Morgan analysts said in a note. "Our high-frequency demand indicators estimate that total oil consumption in March averaged 101.2 million bpd, 100,000 bpd above our published estimates," they said.

Persons: Brent, Daniel Hynes, Soni Kumari, WTI, Israel, JP Morgan Organizations: . West Texas, ANZ, NATO, of, Petroleum, United, Investors Locations: Europe, Brent, Israel, Syria, Russia, OPEC, Mexico, United Arab Emirates, U.S

There are moments in life that stick in memory as a fulcrum between before and after. Rohit, Arti’s new husband, was with her, his presence a tangible sign of his support. But even as Arti awaited the starting gun, the crowd of candidates beside her made painfully clear how much competition she faced. So many candidates had traveled to the exam site, on a remote campus in Uttar Pradesh State, that there was nowhere to house them all. Arti, Rohit and Meena had slept in a local gurudwara, a Sikh place of worship, packed in with the other hopefuls and their chaperones.

Persons: Arti Kumari’s, Meena, Rohit, Arti’s, Arti Organizations: Uttar Pradesh State Locations: Uttar Pradesh

___Their recommendations include securing land rights for women, promoting women's cooperatives and encouraging women to lead on developing climate policy. The link between phenomena like uterine prolapse and climate change is indirect but significant, said Seema Bhaskaran, who tracks gender issues for the nonprofit Transform Rural India Foundation. “It must prioritize awareness programs that emphasize the specific health challenges women face in the wake of climate change as a critical step towards increasing public knowledge. These efforts will also serve as a call to action for governments, institutions, and communities to prioritize women’s health and well-being as a central component of their climate initiatives,” she added. “Definitely there is a very clear recognition that climate has a health impact and health needs to be considered more seriously,” she said.

Persons: Manju Devi, Devi, hadn’t, ___, Seema Bhaskaran, Bhaskaran, Savita Singh, Singh's, Singh, ”, Babita Kumari, Kumari, Poonam, COP28, Anjal Prakash, Shweta Narayan Organizations: DELHI, India Climate Journalism, Associated Press, Stanley Center for Peace, Security, Press Trust of India, India's, Transform Rural, Foundation, Climate Central, Population Foundation of India, Bharat Institute of Public, Indian School of Business, United Nations, Health, AP Locations: Delhi, Dubai, India, New Delhi, Syaraul, Uttar Pradesh, Nanu, U.S

For Indian families, a modest wedding is an oxymoron. It was no different for Arti Kumari’s parents, despite their limited means as an NGO worker and a subsistence farmer. As the wedding day grew closer, Arti was still waiting for notice of the date of her athletic test for the federal security force job she hoped to win. She would be marrying without a job — not the future she and her mother had worked so hard for. Nevertheless, her wedding would be an ornate, multiday affair.

Persons: Arti Kumari’s, Meena, Anil, Arti Locations: India’s

Arti Kumari, 22, crouched on a dusty dirt track in a runner’s lunge, waiting to spring forward as soon as her mother started the clock. Although Arti had risen before dawn to train, the oppressive heat bore down on her. It was May, and northern India was experiencing its worst heat wave in 45 years. She, like millions of other young people in India, dreamed of getting a job with India’s central government. Arti had already beaten the odds and passed the written exams for India’s Central Industrial Security Force, or C.I.S.F., a paramilitary corps responsible for guarding critical infrastructure.

Persons: Arti Kumari, Arti Organizations: Central Industrial Security Force Locations: India

☆ Home in a box: Rethinking disaster relief, IKEA style
▼ + stars: | 2023-08-31 | by ( Marianna Cerini | ) edition.cnn.com time to read: +9 min

Rather than sending tents, however, Indian nonprofit SEEDS partnered with Sweden’s Better Shelter to distribute over 100 of its IKEA-inspired temporary houses. Like IKEA furniture, Better Shelter’s homes come in flat packages that can be easily shipped and assembled in a matter of hours, without the need for tools or electricity. Each unit comprises a modular frame and is completed using local materials, such as bamboo or timber, before being equipped with a lockable door and solar-powered lamp. Sahiba Chawdhary/Better ShelterKarlsson began developing the concept for Better Shelter’s housing as a freelance designer in 2010, when a small aid project asked him to improve the design of its disaster relief tents. Sahiba Chawdhary/Better ShelterScalable, adaptable and localIn 2021, Better Shelter introduced its latest modular design: Structure.

Persons: CNN —, Gita Kumari Bhumik, ” Bhumik, Kumari Bhumik, Chawdhary Bhumik, It’s, ”, Johan Karlsson, “, Karlsson, you’re, we’ve, ” Karlsson, Sahiba, Geeta Bhumik, it’s Organizations: CNN, IKEA, IKEA Foundation, UN, decarbonization, UNHCR, for Economics & Peace, Better Locations: India’s, Assam, Indian, Assam's Kalain, Swedish, Ethiopia, Iran, Kenya, Afghanistan, Rwanda, Ecuador, Netherlands, Sydney

☆ The decision makers at 6 family offices reveal what it's really like behind the scenes at the private wealth management firms managing billions – and why they are so secretive
▼ + stars: | 2023-06-27 | by ( Ben Bergman | ) www.businessinsider.com time to read: +8 min

Family offices are the private wealth management firms managing the fortunes of wealthy families. But six people agreed to pull back the curtain on family offices to reveal their inner workings. Trust comes before everything elseThe world of family offices is built on relationships and trust before everything else. "Family offices really primarily are about wealth preservation," said Nisa Amoils, managing partner of A100x Ventures who also sits on the board of the Swig Family Office. "As much as it is a family business, it is also the business of family," said Swig.

Persons: Jahnavi Kumari Mewar, JKM, Oliver Swig, I've, Swig, We've, hasn't, Amoils, Consuelo Vanderbilt, SohoMuse, Vanderbilt, Maximilian Winter, Roy, Ben Bergman, bbergman Organizations: North, RBC, Campden, nouveau, Forbes Iconoclast Summit, A100x Ventures, Vanderbilt, Central American, Wimbledon, Harmonix, SOJA Ventures Locations: New York, Columbus, Central America, San Francisco

☆ Brent may rise toward $100/bbl as Saudi output cut could worsen supply gap - analysts
▼ + stars: | 2023-06-05 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

"Saudi Arabia has a track record of delivering on material cuts," RBC Capital's Helima Croft said in a note. "Hence, we would expect the full 1 million bpd unilateral cut to hit the market in July, nearly doubling the true physical reduction we have seen from the producer group since October." "With Saudi Arabia protecting oil prices from sliding too low by cutting production, we think oil markets are now more prone to a shortfall later this year," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. "We think Brent futures will rise to $85/bbl by Q4 2023 even with a tepid demand recovery in China factored in." "Affording it the 200,000 bpd quota adjustment for 2024 seems to settle the issue of its OPEC membership for now."

Persons: Brent, Helima Croft, Vivek Dhar, Goldman Sachs, Daan Struyven, Callum Bruce, Daniel Hynes, Soni Kumari, RBC's Croft, Florence Tan, Sonali Paul Organizations: Saudi, Organization of, Petroleum, RBC, Commonwealth Bank of Australia, bbl, ANZ, U.S . Federal, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, China, Iran, Venezuela, OPEC, United Arab Emirates

Kumar, like others in his position, knows all too well the frustrations that can build when work is scarce. “Since childhood, we’ve been facing this competition,” said Sarang Agrawal, 28, who is studying for the Indian civil service entrance test. There’s competition everywhere.”Sarang Agrawal (center) is studying in the hope of becoming a civil servant. Vijay Bedi/CNNNo social life, no love life … and no plan BLike Kumar and Kumari, Agrawal knows all about competition. He is among the more than 1 million people who apply each year for a position in the Indian civil service.

☆ Oil prices steady amid China demand revival, high U.S. inventories
▼ + stars: | 2023-02-09 | by ( Muyu Xu | ) www.reuters.com time to read: +2 min

"U.S. crude oil ... inventories have continued to exceed expectations, which to some extent erodes the bullish sentiments brought from China's demand recovery hopes," said analysts from Haitong Futures. Crude oil stocks in the United States rose last week to their highest since June 2021, helped by higher production, the Energy Information Administration said on Wednesday. U.S. gasoline and distillate inventories also rose last week as demand remained weak. read moreBut the prospect of stronger demand from China lent support to oil prices, as the world's second-largest oil consumer ended more than three years of stringent zero-COVID policy involving city-wide lockdowns and mass testing in December. The disaster had halted operations at Ceyhan and disrupted crude oil flows from Iraq and Azerbaijan.

President Joko Widodo has pulled out all the stops to convince CEO Elon Musk to manufacture electric vehicles or batteries in the sprawling Southeast Asian archipelago. "The Indonesian government is building a whole value chain for servicing electric vehicle factories," said Victor Chin, principal consultant at metal consultancy firm CRU. Musk's goal is to sell 20 million electric vehicles in 2030, more than a 15-fold increase over the 1.3 million vehicles Tesla sold in 2022. Jokowi did not give a timeline for the exports growth but said Indonesia was aiming to establish an integrated supply chain for electric vehicle batteries by 2027. In other moves, Indonesia will also ban exports of copper ore and bauxite in June, both of which are used in electric vehicle production.

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