DIRS.INFO The most relevant business & tech news

Reliance Retail includes Ambani's core retail businesses, including digital and brick-and-mortar stores. It is fully owned by Reliance Retail Ventures, which also houses other retail operations such as international partnerships and the billionaire's consumer goods business. In 2020, Reliance Retail Ventures raised 472.65 billion Indian rupees ($5.72 billion) by selling a 10.09% stake, valuing it at roughly $57 billion based on current exchange rates. EY valued Reliance Retail at 884.03 rupees per share, while BDO valued it at 849.08 rupees, the source said. Reliance Retail has in recent years partnered with a slew of global brands to launch and expand their presence in India.

Persons: Mukesh Ambani, valuers, Ambani, Tiffany, Aditya Kalra, Sriram, Chris Thomas, Savio D'Souza, Louise Heavens, Mark Potter Organizations: Reliance, Reuters, BDO, EY, Reliance Retail Ventures, KKR, Saudi Public Investment Fund, General Atlantic, Reliance Retail, Burberry, Thomson Locations: DELHI, India, New Delhi, Mumbai, Bengaluru

China, the world's second-biggest LNG buyer, is estimated to have imported 5.96 million metric tons of the super-chilled fuel in June, according to data compiled by Refinitiv. While Asia's overall LNG imports are showing a relatively steady picture, Europe's have been trending lower amid ample stockpiles of natural gas. Europe imported 9.50 million metric tons in June, the lowest monthly total since August and down from 12.11 million in May, according to Refinitiv. Asia's imports of U.S. LNG rose to 1.34 million metric tons in June, the most since February and up from 1.21 million in May. In contrast, Europe's imports of U.S. LNG dropped to 4.15 million metric tons in June, the least since September and down from 5.63 million tons in May.

Persons: Refinitiv, Brent, Robert Birsel Organizations: LNG, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Asia, Ukraine, Europe, ASIA, EUROPE, Refinitiv, Japan, South Korea, India, United States, U.S

☆ Singapore growth outlook uncertain, fight against inflation still on, says central bank
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: +1 min

Singapore's central bank warned on Wednesday that the near-term growth outlook for one of Asia's top financial hubs "remains uncertain with downside risks" even as the effects of its monetary tightening cycle work towards cooling inflation. In an annual review by the Monetary Authority of Singapore, or MAS, chief Ravi Menon on Wednesday said Singapore's near-term growth would remain weak as prospects had dimmed but inflation should reduce by year-end, although he stressed the fight to contain it was not yet over. MAS now forecasts 2023 headline inflation at 4.5% to 5.5%, slower than the 5.5% to 6.5% seen earlier, Menon told a press conference. Core inflation would be significantly lower at 2.5% to 3.0%, he added. The central bank's monetary policy remains "steadfastly focused on medium term price stability", he said.

Persons: Ravi Menon, Singapore's, Menon, Tharman Shanmugaratnam Organizations: Monetary Authority of, MAS Locations: Monetary Authority of Singapore

July 6 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. U.S.-China trade tensions appear to be intensifying by the day - the latest flare up coming over Beijing's restrictions on exports of some metals - not the best backdrop for Yellen's visit on Thursday. However well - or otherwise - Yellen's visit goes, there will be no quick fix. Here are key developments that could provide more direction to markets on Thursday:- U.S. Treasury Secretary Janet Yellen visits China- Australia trade (May)- Taiwan inflation (June)By Jamie McGeever; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Janet Yellen, Taiwan's Foxconn, Foxconn's, Wei Jianguo, Lisa Shumaker Organizations: Treasury, Apple Inc, U.S, Vice Commerce, Bank Negara Malaysia, . Treasury, Thomson, Reuters Locations: Beijing, Malaysian, China, Washington, Malaysia, India, South Korea, Indonesia, New Zealand, Bank, Australia, Taiwan

☆ TSMC founder: Globalisation in technology takes backseat to national priorities
▼ + stars: | 2023-07-04 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

TAIPEI, July 4 (Reuters) - Globalisation is taking a backseat to priorities such as national security and technological leadership, with U.S.-China relations consisting more of competition than cooperation, the retired founder of Taiwanese chipmaker TSMC said on Tuesday. He has previously declared that globalisation in the chip sector dead. TSMC, Asia's most valuable listed company, is referred to in Taiwan as the "sacred mountain protecting the country" because of its economic importance. While TSMC has said its most advanced manufacturing will remain on the island, the company has ramped up expansion abroad in recent years. Beijing views democratically governed Taiwan as its own territory, a claim the government in Taipei strongly rejects.

Persons: chipmaker TSMC, Morris Chang, Chang, TSMC, Sarah Wu, Tom Hogue Organizations: U.S, Taiwan Semiconductor Manufacturing Co, Apple, Taiwan, Thomson Locations: TAIPEI, China, Taipei, Beijing, United States, Taiwan

☆ OCBC is looking to Greater China and Southeast Asia for a $2.2 billion boost in revenue
▼ + stars: | 2023-07-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore's Oversea-Chinese Banking Corporation has set its sights on "longer term opportunities" in Greater China and Southeast Asia and expects the strategy to bring an additional revenue of $2.2 billion by 2025, CEO Helen Wong told CNBC on Monday. Southeast Asia's second largest bank announced Monday that it will be unifying its brand across its core markets in Greater China — which includes Hong Kong and Macao — as well as Southeast Asia. "If you look at macro trends, Greater China and ASEAN together is going to continue to contribute more to the world's GDP growth," Wong told CNBC, referring to the 10-nation Association of South East Asian Nations bloc. "If you look at the trade numbers for the last four years, China and ASEAN — they're growing at a CAGR of 13%," she added. As such, while the OCBC has seen slowing economic growth in some countries in the region, Wong said she's confident it will be able to capture growth as it "puts our act together."

Persons: Singapore's Oversea, Helen Wong, Wong Organizations: Chinese Banking Corporation, CNBC, Macao —, Association of South East Asian Nations, ASEAN —, ASEAN Locations: Greater China, Southeast Asia, Asia's, Hong Kong, Macao, China, ASEAN

☆ Trans Mountain pipeline expansion likely to send more Canadian oil to US, not Asia
▼ + stars: | 2023-07-04 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

Western sanctions on Russian crude following its invasion of Ukraine have upended those plans. Canadian barrels will struggle to compete, analysts and traders said. Chinese oil refiners PetroChina (601857.SS) and Sinopec (600028.SS) have bought and processed Canadian heavy crude in the past. Russia's Urals crude produces higher volumes of fuel and is significantly cheaper than heavy Canadian barrels, said one Calgary-based crude trader. "Today every crude in Asia is having a hard time competing with Russian crude," York said.

Persons: crudes, TMX, John Coleman, Wood Mackenzie, Skip York, York, Nia Williams, Florence Tan, David Gregorio Our Organizations: U.S ., Canadian, Sinclair, Puget Sound, U.S . Energy, Administration, Turner, Mason & Company, Reuters, Thomson Locations: U.S . West Coast, Asia, Ukraine, Canada, United States, Russia, Alberta, British, Pacific Coast, North America, China, India, Calgary, Canadian, Iraq, California, York, Moscow, Basra, British Columbia, Singapore

In Asia, while factory activity expanded marginally in China, it contracted in Japan and South Korea as Asia's economic recovery struggled to maintain momentum. REUTERS/Siyi LiuChina's Caixin/S&P Global manufacturing PMI eased to 50.5 in June from 50.9 in May, the private survey showed. The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No. South Korea's PMI fell to 47.8 in June, extending its downturn to a record 12th consecutive month on weak demand in Asia and Europe. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed.

Persons: Rory Fennessy, lockdowns, Toru Nishihama, Siyi Liu China's, Jonathan Cable, Sam Holmes, David Evans Organizations: PMI, European Central Bank, Oxford Economics, P, Dai, Research, REUTERS, P Global, Reuters, Jibun, of, International Monetary Fund, Thomson Locations: Japan, South Korea, China, TOKYO, Europe, Britain, Asia, United States, European, U.S, Dezhou, Shandong province, South, Taiwan, Vietnam, Malaysia, of Japan's

Summary June headline inflation at 3.52% vs 3.64% in Reuters pollCore inflation at 2.58% vs 2.64% in pollSome economists forecast interest rate cut in Q3JAKARTA, July 3 (Reuters) - Indonesia's annual inflation rate in June eased to 3.52%, settling into the central bank's target range for a second straight month, data from the statistics bureau showed on Monday. Headline inflation dropped to its lowest since April 2022 and came in below the 3.64% expected in a Reuters poll and below the 4.00% seen in May. Transportation fares, food prices and rents rose in June, Pudji Ismartini, deputy head of Statistics Indonesia, said in a press conference. The core inflation rate, which strips out government-controlled and volatile food prices, eased to 2.58% in June from 2.66% a month before. The poll had expected 2.64% core inflation.

Persons: Pudji Ismartini, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska, Kanupriya Kapoor Organizations: Reuters, Bank, Statistics, BI, Trimegah Securities, DBS, Thomson Locations: JAKARTA, Asia's, Statistics Indonesia

☆ Asia's factory output slumps as weak China demand weighs
▼ + stars: | 2023-07-03 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

While manufacturing activity expanded marginally in China, it contracted in powerhouses Japan and South Korea as Asia's fragile economic recovery struggled to maintain momentum. New orders from overseas customers decreased in June at the fastest rate in four months reflecting feeble demand from China, the Japan PMI survey showed. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed. Asia's economy is heavily reliant on the strength of China's economy, which saw growth rebound in the first quarter but subsequently fell short of expectations. The fate of Asia's economy, including China's, will have a huge impact on the global economy with aggressive monetary tightening to curb inflation likely to weigh on U.S. and European growth.

Persons: Liu, lockdowns, Toru Nishihama, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, Dai, Research, P Global, Reuters, Jibun, Japan PMI, International Monetary Fund, Thomson Locations: Dezhou, Shandong province, China, Japan, South Korea, TOKYO, Asia, U.S, Europe, Taiwan, Vietnam, Malaysia

☆ Asia refiners expect Saudi Arabia to cut August crude prices
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +3 min

Saudi Arabia in June unexpectedly raised prices for July-loading cargoes, eating into Asian refiners' margins. Profits at a typical Singapore refinery processing Dubai crude fell to an average of $3.44 a barrel in June, from $4.78 a barrel last month. Saudi crude prices typically closely track changes in benchmark Dubai monthly price spreads, but the two have disconnected in recent months. Saudi crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting about 9 million bpd of crude bound for Asia. Below are expected Saudi prices for August 2023 (in $/bbl against the Oman/Dubai average):Reporting by Muyu Xu; Editing by Florence Tan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Unipec, Muyu Xu, Florence Tan, Jamie Freed Organizations: Saudi Aramco, Dubai, Global, Kuwaiti, bbl, Thomson Locations: SINGAPORE, Saudi Arabia, OPEC, Saudi, Dubai, Oman, Singapore, PetroChina, Asia

☆ Singapore's OCBC expects to deliver $2.2 billion in extra revenue by 2025
▼ + stars: | 2023-07-03 | by ( ) www.cnbc.com time to read: +1 min

Singapore's second-biggest lender Oversea-Chinese Banking Corp , or OCBC, said on Monday it expects to deliver an additional revenue of 3 billion Singapore dollars, or $2.22 billion, by 2025, after it posted a record first-quarter profit in May. The bank did not disclose its 2025 total revenue target. Its total revenue in 2022 was SG$11.68 billion. OCBC will invest more than SG$50 million over the next three years to build up its transaction banking capabilities in greater China, it said in its statement. It targets to achieve more than 500 regional mandates for cash management over the next five years, it added.

Persons: Singapore's, OCBC, Helen Wong Organizations: Chinese Banking Corp, ASEAN Locations: China, Southeast Asia

☆ South Korea factory activity suffers longest downturn in at least 19 years
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

It has remained below the 50-mark that separates expansion from contraction since July 2022, the longest such streak in the survey that began in April 2004. Output and new orders dropped by the most in eight months and six months, respectively, dragging the headline index lower. Asia's fourth largest economy posted slim growth in the first quarter and has struggled to motor on due to weak external demand. Output prices fell for a second month, as cost pressures eased, though there was also evidence that they were reduced in an effort to stimulate sales. Manufacturers' optimism for future output fell in June to the lowest level since December 2022, a sharp U-turn from hitting a 10-month high in May.

Persons: Usamah Bhatti, Bhatti, Jihoon Lee, Shri Navaratnam Organizations: South, Asia's, PMI, P Global Market Intelligence, Manufacturers, Thomson Locations: SEOUL, Asia, Europe

☆ South Korea export downturn slows, trade balance swings to surplus
▼ + stars: | 2023-07-01 | by ( Jihoon Lee | ) www.reuters.com time to read: +1 min

SEOUL, July 1 (Reuters) - South Korea's export downturn slowed in June, with auto exports extending robust rises and semiconductors narrowing their decline, as the bellwether Asian economy posted its first trade surplus since early last year. Exports of semiconductors fell 28.0%, the smallest decline in eight months. Shipments to China fell 19.0%, the smallest decline since October, while those to the United States fell 1.9% in their third month of decline. Imports fell 11.7% to $53.11 billion, narrowing from a 14.0% fall the previous month and but slightly steeper than the 11.0% decline expected by economists. As a result, the country posted a trade surplus of $1.13 billion in June after 15 months of deficits for the export-reliant economy.

Persons: Jihoon Lee, Heekyong Yang, Diane Craft, William Mallard Organizations: Automobile, European Union, Thomson Locations: SEOUL, China, United States

☆ Oil and gas will continue to power the world for decades to come, big oil firms say
▼ + stars: | 2023-06-30 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

"We think the biggest realization that should come out of this conference ... is oil and gas are needed for decades to come," said John Hess, CEO of U.S. oil company Hess Corporation. A.S. Sahney Executive Director of Indian Oil CorporationHess said oil and gas are key to the world's economic competitiveness, as well as an affordable and secure energy transition. "The world is facing a structural deficit in energy supply, in oil and gas, in clean energy," he said. "That shows our belief in [the] continuance of fuel," the executive director said, acknowledging that energy transition is here to stay. Oil demand an 'ancient story'Commodities trading firm Vitol is less bullish, predicting that demand for crude will peak in 2030 — two years later than the IEA's forecast.

Persons: John Hess, Hess, Indian Oil Corporation Hess, Haitham Al Ghais, Erin McGrath, Dan Yergin, TotalEnergies, Patrick Pouyanne, Amin Nasser, Russell Hardy, Russia's Organizations: Barcroft Media, Getty, Energy Asia, Hess Corporation, International Energy Agency, Sahney, Indian Oil Corporation, OPEC's, Hess Corp, Energy Asia Summit, Bloomberg, ExxonMobil, CNBC, U.S, Commodities, EV Locations: Lake, China's Jiangsu, Malaysia's, Kuala Lumpur, India, A.S, Malaysia, Asia, Africa, America, Europe, China, Korea, Japan, Vietnam, Saudi Arabia's, Aramco

CARE Hospitals Group, according to another investor source, is in talks to sell a 70% stake to U.S. investment giant Blackstone (BX.N) in a deal valued at $800 million. MORE ATTRACTIVE THAN EVERAs government hospitals became increasingly overburdened and incomes rose in India's vast middle class, demand for private healthcare rose over the years. "The India healthcare opportunity has always been attractive, but never more than now. In 2022, PE investors spent $3.2 billion buying stakes in hospitals in India. "Big private hospitals are more reliable," said 35-year-old G. Chavan said as he accompanied his wife to see a doctor.

Persons: Rana Mehta, PwC's, Atlantic, Indira, Blackstone, Gaurav Sharma, Investcorp, Nishant Sharma, Sharma, Chavan, Sriram, Aditya Kalra, Simon Cameron, Moore Organizations: PwC, General Atlantic, CARE Hospitals, Blackstone, CARE, Kedaara Capital, ASIA'S PACE, Temasek, Reuters Graphics, Apollo Hospitals, Thomson Locations: India, PUNE, Pune, Indira, Bahrain, Mumbai, Manipal, Asia

[1/2] A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. China's long-awaited rules for offshore stock exchange listings form part of a regulatory tightening on cross-border listings after years of a laissez-faire approach. REGULATORY 'BLACKBOX'The new listing regime requires CSRC to respond within 20 working days upon accepting an issuer's listing filing. Submitting additional materials can be time-consuming and thus delay the listing process, said bankers and lawyers. Reporting by Scott Murdoch in Sydney and Kane Wu in Hong Kong; Additional reporting by Selena Li in Hong Kong; Editing by Sumeet Chatterjee and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, JD.com, Scott Murdoch, Kane Wu, Selena Li, Sumeet Chatterjee, Muralikumar Organizations: China Securities Regulatory Commission, REUTERS, China, U.S, iMotion Automotive Technology, Reuters, Thomson Locations: China, Beijing, Hong Kong, SYDNEY, HONG KONG, Suzhou, Sydney

An example is the trade in physical cargoes from the Middle East where Unipec, the trading arm of top Chinese refiner Sinopec, has been selling heavily this month. There are several reasons for this, including the output cuts implemented by OPEC+, which effect more Middle East grades than Brent and related light crudes. Asia is expected to import 29.12 million bpd in June, a third consecutive monthly gain and up from 26.47 million bpd in May, according to Refinitiv. China's imports are estimated at 12.5 million bpd, up slightly from May's 12.16 million, while India is forecast to receive 5.24 million bpd, up from 4.74 million bpd in May. Asia's imports from the United States are expected to reach a record high of 2.58 million bpd in June, up from 1.66 million bpd the prior month.

Persons: Unipec, refiners, BRENT, Brent, Stephen Coates Organizations: Unipec, Refinitiv Oil Research, Saudi Aramco, OPEC, Saudi, Aramco, refiners, Brent, . West Texas, Reuters, Thomson Locations: LAUNCESTON, Australia, Oman, Dubai, Middle East, Africa, Americas, Asia, Saudi, Brent, China, India, United States, Europe, North America

In some ways, China and Japan are joined at the hip. As beggar-thy-neighbor foreign exchange depreciation pressures bubble up across Asia, the attraction of a weaker exchange rate grows. In terms of bilateral trade between China and Japan, the attraction is equally clear. China is Japan's largest trading partner, Japan is China's third-largest individual nation trading partner, and bilateral trade is worth around $370 billion annually. Remarkably, the yen has depreciated 25% against the yuan over the last three years, giving corporate Japan a substantial competitive advantage over China Inc.

Persons: Steven Englander, Brad Setser, Jamie McGeever Organizations: Reuters, U.S, Asian Development Bank, Standard Chartered, Finance, Bank for International, China Inc, of Foreign Relations, Thomson Locations: ORLANDO, Florida, Japan, China, Asia, East Asia, Beijing

[1/2] An aerial view shows cars for export at a port in Yantai, Shandong province, China May 3, 2023. China Daily via REUTERS/File PhotoJune 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Goldman's emerging markets financial conditions index is the lowest in 16 months, which stands in contrast to developed economies where rates, bond yields borrowing costs of all stripes are rising sharply. The U.S. two-year yield jumped 15 basis points on Thursday, its biggest rise in a month, and traders are now pricing in at least one more quarter point rate hike this year. Here are key developments that could provide more direction to markets on Friday:- China PMIs (June)- Japan - Tokyo inflation (June)- U.S. PCE inflation (May)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Goldman Sachs, Jerome Powell, China PMIs Organizations: REUTERS, Asia's, Bank of Japan, U.S, PCE, Thomson, Reuters Locations: Yantai, Shandong province, China, Japan, Tokyo, South Korea, U.S

☆ Asia must reach net zero before the world can do so, says Petronas CEO
▼ + stars: | 2023-06-28 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

Petronas sign against the backdrop of the Twin Towers. Goh Seng Chong | Bloomberg | Getty ImagesAsia needs to achieve net zero before the world can do so, according to the CEO of Malaysia's state-owned oil and gas company Petronas. "The bulk of the emissions [that] are expected to emit will be produced in Asia going forward," Tengku Muhammad Taufik told CNBC's JP Ong Tuesday on the sidelines of the Energy Asia in Kuala Lumpur, Malaysia. "The world cannot achieve net zero without Asia achieving net zero," Taufik pointed out during the opening address of summit. Asia will represent half of global GDP by 2040, as well as 40% of global consumption, he added.

Persons: Goh Seng Chong, Tengku Muhammad Taufik, CNBC's JP Ong, Taufik, idealists Organizations: Petronas, Bloomberg, Getty, Energy, International Energy Agency Locations: Asia, Malaysia's, Energy Asia, Kuala Lumpur, Malaysia, Paris

STEEP GROWTH, EVERYWHEREAsia dominates the global wind power market, accounting for just over 47% of the worldwide capacity growth in 2022, according to Ember. Annual wind power generation capacity growth by regionOutside of Asia, Europe was the fastest growing region in terms of wind capacity in 2022, where installed capacity expanded by close to 20 GW, or by 8.4%. North America was the next largest wind capacity developer, with 8.84 GW, followed by Latin America, which expanded capacity by 4.36 GW. WIND GROWTH MORE BALANCED THAN SOLARWith just over half of all wind capacity growth occurring outside of Asia in 2022, global wind turbine producers and installation firms have had a larger share of international opportunities than their counterparts in the solar business. In combination with continued strong demand for wind power supply capacity and substantially cheaper supply chain flows, the expected improvements in each firms' wind segment performance should also yield improvements in future financial metrics.

Persons: gigawatts, Vestas, Gavin Maguire, Kim Coghill Organizations: Germany's Siemens Energy, Electric Co, Science & Technology, Siemens, GE, Reuters, Thomson Locations: LITTLETON , Colorado, United States, Danish, Xinjiang, Asia, Ember, China, Europe, North America, America, Africa, Oceania, Freightos

☆ Asia lobby group pushes for easing of China's offshore listing rules
▼ + stars: | 2023-06-27 | by ( Selena Li | ) www.reuters.com time to read: +3 min

HONG KONG, June 27 (Reuters) - China's new offshore listing rules for domestic companies have left bankers and lawyers who work on listings unsure how to take on liabilities and avoid breaching tightened confidentiality rules, Asia's largest financial lobby group said on Tuesday. China's long-awaited rules for offshore stock exchange listings came into effect on March 31 as part of a regulatory tightening on cross-border listings after years of a laissez-faire approach. Chao said the concept of such papers is vaguely defined, and also gave rise to disputes among investment banks and law firms over which side was primarily responsible for storing the documents. It's not good for Chinese companies who need to seek capital from the world," Chao said. The slowing Chinese economy, dimming offshore fundraising prospects, and heightened geopolitical tensions have prompted Wall Street and European banks to layoff investment bankers working on China deals in the last few months.

Persons: China's, Lyndon Chao, ASIFMA, Chao, Goldman Sachs, It's, Hong, Wall, Selena Li, Scott Murdoch, Kane Wu, Sumeet Chatterjee, Susan Fenton, Himani Organizations: China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, JPMorgan, UBS, Thomson Locations: HONG KONG, Beijing, New York, Hong Kong, China

Despite a recent global pledge to reach zero deforestation by 2030, tropical forest loss last year exceeded 2021 levels. Global Forest Watch assessed 'primary forests', which includes mature forests that have not been cleared or regrown in recent history. The Democratic Republic of the Congo and Bolivia suffered the greatest losses of tropical forest after Brazil. The Global Forest Watch analysis found deforestation in 2022 was more than 10,000 sq km (3,900 sq miles) in excess of what would be needed to halt it by 2030. The world lost 10% less forest in 2022 than 2021, as fewer big fires burned in the Russian boreal forest, though the country still lost 43,000 sq km (16,600 sq miles) of tree cover last year.

Persons: Jair, Francis Seymour, Rod Taylor, Gloria Dickie, Clarence Fernandez Organizations: Global Forest Watch, World Resources Institute, University of Maryland, Watch, Democratic, Thomson Locations: Switzerland, Brazilian, Brazil, Indonesia, Malaysia, Democratic Republic of, Congo, Bolivia

☆ Turmoil in Russia means Ukraine will likely have a better counteroffensive: Eurasia's Ian Bremmer
▼ + stars: | 2023-06-26 | 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 EmailTurmoil in Russia means Ukraine will likely have a better counteroffensive: Eurasia's Ian BremmerIan Bremmer, Eurasia Group President, joins 'Closing Bell Overtime' to discuss what the recent turmoil in Russia will mean for the geopolitical picture moving forward.

Persons: Ian Bremmer Ian Bremmer Organizations: Eurasia Group Locations: Russia, Ukraine, Eurasia

Search resuls for: "Asia's"

25 mentions found