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☆ Oil just hit its highest level of the year — and some analysts expect a return to $100 before 2024
▼ + stars: | 2023-09-15 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

In an aerial view, oil storage tanks are shown at the Enterprise Sealy Station on August 28, 2023 in Sealy, Texas. Oil prices climbed to their highest level of the year this week, extending a rally that has put a return to $100 a barrel sharply into focus. Indeed, some analysts believe crude prices could hit this milestone before year-end. Analysts at Bank of America have indicated they now believe oil prices could soon spike beyond triple digits. "Should OPEC+ maintain the ongoing supply cuts through year-end against Asia's positive demand backdrop, we now believe Brent prices could spike past $100/bbl before 2024," analysts led by Francisco Blanch said Tuesday in a research note.

Persons: Brent, WTI, Francisco Blanch Organizations: Enterprise, Brent, . West Texas Intermediate, Saudi, Bank of America, bbl Locations: Sealy , Texas, London, Saudi Arabia, Russia

☆ Thai PM: 'I don't agree with recreational use' of cannabis
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

[1/4] Tourists shop cannabis at a cannabis store, at Khaosan Road, one of the favourite tourist spots in Bangkok, Thailand, January 6, 2023. "Cannabis policy will be medical cannabis. On recreational use, I do not agree with that," he said in an interview with Thai news website, The Standard. Srettha's Pheu Thai party leads an 11-party coalition government, which came into power in August. "Drug abuse is a big problem for the country that's been under-addressed ... cannabis has to be used medically," Srettha said.

Persons: Athit, Srettha Thavisin, Srettha, Chayut Setboonsarng, Kanupriya Kapoor Organizations: REUTERS, Rights, Thai, Thomson Locations: Bangkok, Thailand, Rights BANGKOK, Southeast Asia's, New York

SINGAPORE, Sept 14 (Reuters) - DBS Group (DBSM.SI) Chief Executive Piyush Gupta said current widespread pessimism about China's economy was not "overdone" but he was upbeat about India, where the bank plans to triple its business in the next five years. "There's some real headwinds in China in the short-term", he told a Reuters Newsmaker event in Singapore, noting the crisis in its debt-ridden property sector. DBS, Southeast Asia's largest bank by assets, aims to triple its business in India in the next five years, Gupta also said. The bank has been in India for nearly 30 years and operates about 530 branches in 19 Indian states, according to its website. Singapore has seen strong inflows from wealthy customers amid global uncertainty, including U.S.-China geopolitical tensions, due to the city-state's status as a financial safe-haven.

Persons: Piyush Gupta, Gupta, Yantoultra Ngui, Fanny Potkin, Scott Murdoch, Edwina Gibbs Organizations: DBS, Reuters, Shenzhen Rural Commercial Bank, UBS Group's, Credit Suisse, Thomson Locations: SINGAPORE, India, China, Singapore, Shenzhen, Asia's, Asia, East, U.S

☆ Indonesia's August trade surplus seen widening to $1.55 bln: Reuters poll
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Workers are seen on a ship carrying containers at Tanjung Priok Port in Jakarta, Indonesia, January 11, 2021. REUTERS/Willy Kurniawan/File Photo Acquire Licensing RightsSummary Trade data due at 0200 GMT on Friday, Sept 15JAKARTA, Sept 14 (Reuters) - Indonesia's trade surplus in August likely widened slightly from a month earlier amid falling imports, even as exports were expected to remain weak, a Reuters poll showed on Thursday. The median forecast of 19 economists surveyed was for Southeast Asia's biggest economy to book a surplus of $1.55 billion, versus $1.31 billion in July. Indonesia's exports and trade surplus have been shrinking as prices of its top commodities, like coal and palm oil, fall and global demand weakens. Weak exports have also hit economic growth in the last quarter.

Persons: Willy Kurniawan, Josua Pardede, Veronica Khongwir, Susobhan Sarkar, Stefanno Sulaiman, Kanupriya Kapoor Organizations: REUTERS, Southeast Asia's, Bank Permata, Thomson Locations: Tanjung Priok Port, Jakarta, Indonesia, JAKARTA

☆ China asks big banks to stagger and adjust dollar purchases - sources
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +4 min

Most banks are allowed to run a net short or long foreign currency position in spot dollar-yuan markets, within defined limits. The directive came from a meeting the People's Bank of China (PBOC) held with a few commercial banks earlier this week, the sources said. The sources, who received the directive, said banks were also told to encourage their clients to hold off on dollar purchases. Earlier this month, it announced it would increase the supply of dollars by lowering the amount of foreign exchange that banks must set aside. Sources told Reuters last month that China's currency regulators asked some banks to reduce or postpone their purchases of U.S. dollars in order to slow the yuan's depreciation.

Persons: Dado Ruvic, Banks, Sid Mathur, Mathur, Shri Navaratnam Organizations: REUTERS, Rights, People's Bank of China, Reuters, BNP Paribas, Shanghai, Thomson Locations: China's, United States, China, Asia, Pacific, . China

☆ China's central bank set to boost liquidity but keep policy rate steady
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Sept 14 (Reuters) - China's central bank is expected to boost liquidity while keeping the borrowing cost steady when rolling over its medium-term policy loans on Friday, a Reuters survey showed, after a string of data showed some signs of economic stabilisation. China has already lowered the medium-term policy rate twice since June to stimulate credit demand and support a faltering economic recovery. New bank lending in China beat expectations by nearly quadrupling in August from July's level, as the central bank sought to shore up economic growth amid soft demand at home and abroad. To revive broad credit demand and rescue the troubled property sector, China unexpectedly cut the MLF rate last month. For this reason alone, it seems unlikely that the PBOC will embrace large-scale rate cuts."

Persons: Frances Cheung, Julian Evans, Pritchard, Shri Navaratnam Organizations: People's Bank of China, OCBC Bank, U.S, Capital Economics, Shanghai, Thomson Locations: SHANGHAI, China, United States, OCBC Bank .

☆ Yamashita among first women referees for men's Asian Cup
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Soccer Football - FIFA Women’s World Cup Australia and New Zealand 2023 - Round of 16 - Netherlands v South Africa - Sydney Football Stadium, Sydney, Australia - August 6, 2023 Referee Yoshimi Yamashita during the match REUTERS/Carl Recine/File Photo Acquire Licensing RightsSept 14 (Reuters) - Japan's Yoshimi Yamashita is among five officials who will be the first women to referee matches at the men's Asian Cup next year, the Asian Football Confederation (AFC) announced on Thursday. Yamashita also officiated at last year's men's World Cup in Qatar. Australian Katherine Jacewicz will also be among the referees for the tournament, while assistants include Japanese duo Makoto Bozono and Naomi Teshirogi and Kim Kyoung-min of South Korea. "For the first time ever, women match officials are poised to make their debut at Asia's most prestigious men's national team competition...," the AFC said in a statement. Reporting by Aadi Nair in Bengaluru Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoshimi Yamashita, Carl Recine, Yamashita, Katherine Jacewicz, Makoto Bozono, Naomi Teshirogi, Kim Kyoung, Aadi Nair, Toby Davis Organizations: Soccer Football, FIFA, Sydney Football Stadium, REUTERS, Asian Football Confederation, AFC, Asia's, men's, Thomson Locations: New Zealand, Netherlands, South Africa, Sydney, Australia, Qatar, South Korea, China, Bengaluru

Seven years in, Country Garden has invested 20 billion ringgit ($4.3 billion) in the project, Forest City said, a far cry from the initial $100 billion plan. "Seeing is believing," Forest City said in an email response. "The land plot itself is valuable," a Singapore-based bondholder of Country Garden said, while highlighting the complications of dealing with a local government joint-venture. Last month, Malaysia's central bank said local banks had limited exposure to Country Garden amid concern about its financial stress. Anwar, Malaysia's prime minister, has designated Forest City a "special financial zone" to attract investment, which Forest City said would help with its marketing.

Persons: Foo Gee Jen, Anwar Ibrahim, Anwar, Malaysia's, Yang Ming Han, Loh, Loh Wee Loon, I'm, Xinghui Kok, Xie Yu, Anne Marie Roantree, Lincoln Organizations: ISKANDAR PUTERI, Garden, Forest, Malaysian, Reuters, Thomson Locations: KUALA LUMPUR, ISKANDAR, Malaysia, Garden's, City, Johor, Singapore, Forest City, Malaysian, Forest, Loh Wee, China, Johor Sultan, Iskandar Puteri, Kuala Lumpur, Yantoultra, Hong Kong

☆ EV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026
▼ + stars: | 2023-09-13 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

Of that, up to $200 million would be for its Indonesian plant, targeting production in 2026 with an output of 30,000 to 50,000 units each year. Since its establishment in 2017, VinFast has announced numerous ambitious EV growth plans overseas. VinFast aims to establish its own distributors and may open show rooms in those locations, it said. VinFast is entering the American market at a time when EV pricing is under pressure, led by market leader Tesla and a range of Chinese companies. Shares of Vietnam's largest conglomerate and VinFast parent Vingroup (VIC.HM) were down 0.33% as of 0635 GMT.

Persons: Mike Blake, Pham Nhat Vuong, EVs, VinFast, Tesla, Phuong Nguyen, Christina Fincher Organizations: Los Angeles Auto, REUTERS, Nasdaq, U.S . Securities, Exchange Commission, EV, Thomson Locations: Los Angeles , California, U.S, Indonesia, India, Malaysia, HANOI, Asia, VinFast, Indonesian, Southeast, Vietnamese, Haiphong, North Carolina, East, Africa, America, Europe

Reliance Retail is India's largest retailer and is led by Asia's richest person Mukesh Ambani. Of that, QIA last month announced a $1 billion investment and KKR & Co (KKR.N) this week $250 million. Reliance sold a 10.09% stake in its retail unit in 2020, valuing it at 4.68 trillion rupees ($56.4 billion). When ADIA invested in Reliance Retail in 2020, it said it was part of its strategy of targeting market leading businesses in Asia linked to the region's consumption-driven growth. Reliance Retail reported a consolidated net profit of 91.81 billion rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.

Persons: Singapore's GIC, Mukesh Ambani, QIA, ADIA, PIF, Marks, Spencer, Ambani, Sriram, Aditya Kalra, Yantoultra Ngui, Alexander Smith Organizations: Reliance, Asia's, Reuters, KKR, Co, Abu Dhabi Investment Authority, Saudi Arabia's Public Investment Fund, Reliance Industries, Reliance Retail, Unilever, Thomson Locations: MUMBAI, DELHI, DUBAI, Singapore, Abu Dhabi, Saudi Arabia, GIC, Asia

☆ Indonesia to ban goods transactions on social media - deputy minister
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, Sept 12 (Reuters) - Indonesia is planning to ban goods transactions on social media under new trade regulations, the deputy trade minister told a parliamentary hearing on Tuesday. Ministers have repeatedly said that e-commerce sellers using predatory pricing on social media platforms were threatening offline markets in Southeast Asia's biggest economy. Current trade regulations do not specifically cover direct transactions on social media. "Social media and social commerce cannot be combined," Jerry Sambuaga, deputy minister of trade, told the parliament, using the example of sellers using "live" features on the short video platform TikTok to sell goods. "Revisions to the trade regulations that are currently under way will firmly and explicitly ban this," Sambuaga said.

Persons: Jerry Sambuaga, Sambuaga, TikTok, Indonesia's, Dewi Kurniawati, Stefanno Sulaiman, Alex Richardson Organizations: Reuters, Facebook, Momentum, Google, Temasek Holdings, Bain & Company, Thomson Locations: JAKARTA, Indonesia, Asia's, TikTok

Giant cranes are seen at the Hanjin Shipping container terminal at Incheon New Port in Incheon, South Korea, September 7, 2016. REUTERS/Kim Hong-Ji Acquire Licensing RightsSept 13 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The real fireworks will come after Asian markets close, with the release of U.S. CPI for August. Annual core inflation is expected to ease to 4.3% from 4.7%, but headline inflation is predicted to rise to 3.6% from 3.2%. Year-on-year oil prices are now turning positive for the first time this year, something investors and policymakers could do without.

Persons: Kim Hong, Jamie McGeever, Brent, Kazuo Ueda, Josie Kao Organizations: Hanjin Shipping, Incheon New, REUTERS, U.S, CPI, Bank of Japan, Nikkei, Bank of America's, Thomson, Reuters Locations: Incheon, Incheon New Port, South Korea, Japan, China, Korea

A general view of a crude oil importing port in Qingdao, Shandong province, November 9, 2008. Many of the newer, complex refineries in Asia prefer medium sour crude as it offers a higher yield of middle distillates such as diesel and jet fuel. ALTERED FLOWSThe higher prices for medium crude grades is impacting the ways in which crude is flowing around the world. China's imports from Brazil are expected to reach 29.07 million barrels in September, which would be the highest in three years, according to Kpler. While Saudi Arabia may have been successful in boosting oil prices, it is also disrupting the markets and altering physical crude flows.

Persons: Brent, China doesn't, Simon Cameron, Moore Organizations: United Arab Emirates, Moscow, Kpler, Reuters, Thomson Locations: Qingdao, Shandong province, LAUNCESTON, Australia, Asia, Saudi Arabia, OPEC, Russia, East, Kuwait, Brent, Dubai, Ukraine, India, Iraq, China, Iran, Islamic Republic, United States, Brazil

☆ AirAsia's operations to return to pre-pandemic level by Dec, says Capital A CEO
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

The logo of AirAsia under Capital A is seen displayed in this illustration picture taken March 7, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSINGAPORE, Sept 11 (Reuters) - Capital A Berhad (CAPI.KL), parent of Malaysian budget airline AirAsia, expects to see the carrier's operations returning to pre-pandemic levels by December, Capital A CEO Tony Fernandes told Reuters on Monday. The target indicates a slight delay from his earlier forecast of putting all 204 of its fleet back in service by August. Fernandes did not elaborate on the delay, but said drivers for capacity growth included improving demand from migrating workforce, tourism, students and connecting travellers. Reporting by Yantoultra Ngui; Editing by Himani Sarkar and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Tony Fernandes, We'll, Fernandes, Yantoultra Ngui, Himani Sarkar, Muralikumar Organizations: AirAsia, REUTERS, Rights, Berhad, Malaysian, Capital, Reuters, Forbes Global, Thomson Locations: Capital, Rights SINGAPORE, Singapore

☆ North Korea marks founding day with parade, diplomatic exchanges
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +2 min

[1/4] North Korean leader Kim Jong Un gestures as the civil defense military parade commemorating the 75th anniversary of the founding of the Democratic People's Republic of Korea is held in Pyongyang, September 8, 2023. KCNA via REUTERS Acquire Licensing RightsSEOUL, Sept 9 (Reuters) - North Korean leader Kim Jong Un marked the country's founding anniversary with a parade of paramilitary groups and diplomatic exchanges in which he vowed to deepen ties with China and Russia. Kim observed the parade at Kim Il Sung Square in Pyongyang and held talks with a visiting Chinese delegation, state media KCNA reported on Saturday. "Most stakeholders in the region want to avoid a new Cold War, but this looks increasingly difficult as Beijing and Moscow prop up Pyongyang and North Korea aligns itself with China and Russia's challenges to the international order." North Korea supplements its already large military with various paramilitary, reserve, and security groups such as the army-affiliated Worker-Peasant Red Guards (WPRG).

Persons: Kim Jong, Kim, Kim Il, Xi Jinping, Vladimir Putin, Xi, Leif, Eric Easley, China's Xi, Russia's Putin, Putin, Jihoon Lee, Josh Smith, Sandra Maler, Stephen Coates, Michael Perry Organizations: Democratic People's, KCNA, REUTERS Acquire, Rights, Ewha University, Guards, Thomson Locations: Democratic People's Republic, Korea, Pyongyang, Rights SEOUL, China, Russia, Northeast Asia, North Korea, India, Seoul, Beijing, Moscow, New Delhi, Ukraine

☆ Thai economy may grow as forecast this year - deputy finmin
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Colorful umbrellas are seen in a restaurant as tourists enjoy a beach in the island of Phuket in Thailand January 19, 2023. REUTERS/Jorge Silva/File Photo Acquire Licensing RightsBANGKOK, Sept 8 (Reuters) - Thailand's economy may grow as forecast this year, helped by public consumption and investment after the formation of a new government, Deputy Finance Minister Krisada Chinavicharana said on Friday. The ministry has forecast economic growth of 3.5% this year. The new government led by Prime Minister Srettha Thavisin, who is also finance minister, is seeking to revive Southeast Asia's second-largest economy and deliver on key campaign promises after an election in May. Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: Jorge Silva, Krisada Chinavicharana, Srettha Thavisin, Kitiphong Thaichareon, Orathai Sriring, Kanupriya Kapoor Organizations: REUTERS, Rights, Southeast, Thomson Locations: Phuket, Thailand, Rights BANGKOK

☆ Stocks stumble as 'dollar juggernaut' on a roll
▼ + stars: | 2023-09-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2% in early trade and is down 1.4% for the week. "China’s partial ban on Apple products put trade wars and U.S.-China decoupling back on the agenda," said Capital.com analyst Kyle Rodda. U.S. suppliers' shares had fallen overnight and helped drag the S&P 500 (.SPX) 0.3% lower and the Nasdaq (.IXIC) down by 0.9%. The Australian dollar is down more than 1% on the week and traded at $0.6384 on Friday.

Persons: Issei Kato, TSMC, Kyle Rodda, Masato Kanda, Hirokazy Matsuno, Brent, Heekyong Yang, Shri Navaratnam Organizations: REUTERS, Rights, Japan's Nikkei, South Korea's SK Hynix, Huawei Technologies, Tokyo, Apple, Nasdaq, ANZ Bank, European Central Bank, Treasury, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, Hong Kong, China, South Korea's, Europe, Seoul

☆ Indonesia's Pertamina Geothermal in talks to buy KS Orka unit for up to $1 bln - sources
▼ + stars: | 2023-09-08 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

Geothermal developer KS Orka had earlier this year appointed DBS to explore the sale of Sorik Marapi, the sources said, declining to be identified as the matter is private. Pertamina Geothermal and KS Orka did not immediately respond to requests seeking comment on Friday. If the deal materialises, it could mark one of the biggest by Pertamina Geothermal since its domestic initial public offering in February. KS Orka acquired a majority share of the company in mid-2016, the website showed, without disclosing the value. Besides Sorik Marapi, KS Orka's other projects include PT Sokoria Geothermal Indonesia in East Nusa Tenggara, KS Orka's website showed.

Persons: Sorik Marapi, Sorik, Yantoultra Ngui, Fransiska Nangoy, Kane Wu, Jacqueline Wong Organizations: Pertamina Geothermal, Pertamina Geothermal Energy, KS Orka Renewables, KS Orka, DBS, KS Orka's, Orka, Kaishan, Sokoria Geothermal, Thomson Locations: SINGAPORE, Indonesia, Southeast, Mandailing Natal, North Sumatra, Sokoria Geothermal Indonesia, East Nusa Tenggara, KS, Singapore

☆ Asia's ultra-rich population records largest drop in the world. Here's how North America and Europe did
▼ + stars: | 2023-09-08 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Asia's ultra-high-net-worth population declined by about 10.9% last year, marking the largest regional drop in the world, a report by data firm Altrata showed. Ultra-high-net-worth (UHNW) individuals are those with a net worth of more than $30 million, according to the study. The combined net worth of Asia's super rich population was at $12.13 trillion compared with Europe's $11.73 trillion, the report showed. Europe recorded the second-worst regional performance, with a 7.1% fall to 100,850 high-net worth individuals. Inflationary shocks from Moscow weaponizing energy supplies, which Europe is reliant on, heightened risk aversion and the disruption of supply chains all led to the decline.

Persons: Altrata Organizations: Tech Locations: Ukraine, South Korea, Taiwan, Europe, Moscow

☆ Vale Base Metals CEO on Saudi partnership and investments in Indonesia
▼ + stars: | 2023-09-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVale Base Metals CEO on Saudi partnership and investments in IndonesiaDeshnee Naidoo, CEO of Vale Base Metals, discusses the reasons for its partnership with Saudi Arabian joint venture Manara Minerals and why she is excited about Indonesia's and Southeast Asia's prospects

Persons: Indonesia Deshnee Naidoo Organizations: Base Metals, Vale Base Metals, Saudi, Manara Minerals Locations: Saudi, Indonesia Deshnee, Saudi Arabian

☆ UN chief says global finance system fragmenting; Myanmar crisis worsens
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +3 min

[1/4] UN Secretary General Antonio Guterres speaks during his bilateral meeting with Indonesian President Joko Widodo on the sidelines of the Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, Thursday, Sept. 7, 2023. In a wide-ranging speech that touched on geopolitical tension, multilateral development finance and climate change, Guterres called on world leaders to find peaceful and inclusive solutions to the challenges facing the world. He also voiced support for re-channelling an additional $100 billion of International Monetary Fund's Special Drawing Rights through multilateral development banks to increase liquidity and support developing economies' needs. At a Paris summit in June this year, world leaders backed a push for multilateral development banks like the World Bank to put more capital at risk to boost lending. ASEAN leaders are set to hold talks with the United Nations later on Thursday.

Persons: General Antonio Guterres, Joko Widodo, Tatan, António Guterres, Rich, Ajay Banga, Guterres, Stanley Widianto, Kanupriya Kapoor, Robert Birsel Organizations: UN, Association of Southeast Asian Nations, ASEAN, REUTERS Acquire, Rights, Monetary, Bank, World Bank, United Nations, Thomson Locations: Jakarta, Indonesia, Rights JAKARTA, China, United States, Paris, Myanmar, ASEAN

☆ China is eroding Russia's influence over old allies as the alliance it leads crumbles over Ukraine, expert says
▼ + stars: | 2023-09-07 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +6 min

Russian influence is waning despite formal alliances and the old ties of the Soviet Union. It is also home to most members of the Collective Security Treaty Organization (CSTO): Russian President Vladimir Putin's equivalent of NATO. Russia's influence on them is also being weakened by more countries competing for their attention, Graham said. AdvertisementAdvertisementHe said that "Russia's operation in Ukraine is undermining, eroding its ability to maintain its influence across the former Soviet space." "You're seeing the slow erosion of Russian influence."

Persons: Thomas Graham, Vladimir Putin's, Graham, Vladimir Putin, Xi Jinping, Stanislav Zas, Nikol Pashinyan, Alexander Lukashenko, Kassym, Tokayev, Sadyr Japarov, Emomali Rakhmon, Anton Novoderezhkin Organizations: Service, Yale, Collective Security, Organization, NATO, Moscow REUTERS, Russia, Armenian, Kazakh, Kremlin, Sputnik, REUTERS, Central, AFPTV, Getty Locations: Central Asia, Russia, Soviet Union, Ukraine, Wall, Silicon, China, Turkey, East, Caucasus, Moscow, Armenia, Kazakhstan, Belarus, Kyrgyzstan, Tajikistan, Central, Europe, Iran, Russian, Belarusian, Bakhmut, AFP, Azerbaijan, Soviet

A vessel carrying liquefied natural gas (LNG) cargo from Russia's Yamal LNG project, is seen at Rudong LNG Terminal in Nantong, Jiangsu province, China July 18, 2018. The key word Simonelli used is "destination," as it implies that LNG and natural gas are in the energy mix for a long time to come. The second bet is that the LNG industry will be able to convince government policymakers, companies and consumers that their fuel is better than the dirtier alternative of coal-fired generation. Overall, the industry is probably correct that energy demand, especially in Asia, is going to rise strongly in coming decades. But the LNG industry will also need to have policy settings just right and deploy technologies at a scale not yet seen to remain in the energy mix in a net-zero world.

Persons: Stringer, Lorenzo Simonelli, Baker Hughes, Jamie Freed Organizations: REUTERS, Rights, LNG, CCS, Reuters, Thomson Locations: Nantong, Jiangsu province, China, Rights SINGAPORE, Singapore, Asia, Gastech, Vietnam, India

☆ South Korea should maintain current monetary, fiscal policies, IMF says
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsSEOUL, Sept 6 (Reuters) - South Korea should maintain current, restrictive monetary and fiscal policies as it needs to take steps to return to sustainable finances and address inflation, the International Monetary Fund (IMF) said on Wednesday. Instead of undermining economic growth, the prudent fiscal policy is judged to be instrumental in keeping South Korea's economic fundamentals strong in the medium term, Finger said at a press conference. Finger told reporters the IMF decided not to evaluate South Korea's foreign exchange reserve adequacy based on its Assessing Reserve Adequacy (ARA) metrics from July. The measure is mostly for emerging economies, and given its economic characteristics, it is more appropriate to assess South Korea's on a scenario basis, Finger said.

Persons: Yuri Gripas, Harald Finger, Finger, China's, Cynthia Kim, Jihoon Lee, Jacqueline Wong, Christopher Cushing Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, South Korean, Bank of Korea, IMF, Thomson Locations: Washington , U.S, Rights SEOUL, South Korea, Korea

[1/3] Traffic moves past the 'Bharat Mandapam', the main venue of the G20 Summit in New Delhi, India, September 5, 2023. U.S. President Joe Biden, British Prime Minister Rishi Sunak, Saudi Crown Prince Mohammed Bin Salman, Canadian Prime Minister Justin Trudeau and Japanese Prime Minister Fumio Kishida are expected to be part of the gathering in New Delhi. For years, Ambani and Adani have competed across a wide range of industries from telecoms to media, and energy to finance. Adani Group has denied any wrongdoing. Reliance Industries, Adani Enterprises, Tata Sons, Bharati Airtel, Aditya Birla Group and the Indian government did not reply to emails seeking comment on the invitation.

Persons: Mandapam, Adnan Abidi, Mukesh Ambani, Gautam Adani, Narendra Modi, Joe Biden, Rishi Sunak, Prince Mohammed Bin Salman, Justin Trudeau, Fumio Kishida, N, Kumar Mangalam Birla, Sunil Mittal, Ambani, Xi Jinping, Vladimir Putin, Modi, Adani, Sarita Chaganti Singh, Shivangi, Clarence Fernandez Organizations: REUTERS, British, Canadian, Japanese, Tata, Bharti Airtel, Reliance Industries, Adani, Hindenburg Research, Adani Enterprises, Tata Sons, Bharati Airtel, Aditya Birla Group, Thomson Locations: New Delhi, India, DELHI, Saudi

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