DIRS.INFO The most relevant business & tech news

☆ Arrest Threatens Nepal’s Standing as South Asia’s Model for Free Speech
▼ + stars: | 2024-06-03 | by ( Bhadra Sharma | ) www.nytimes.com time to read: +1 min

In a region sliding toward authoritarianism one country after another, the small Himalayan nation of Nepal was a shining exception. Political debates remained largely free, and the powerful could easily be questioned. That openness, in a poor country emerging from centuries of monarchical suppression and decades of insurgency, showed that democratic expression need not necessarily be correlated to economic status. The executive, Kailash Sirohiya, was detained nearly two weeks ago in a thinly veiled act of retaliation by Nepal’s powerful home minister, Rabi Lamichhane. The minister had been the subject of intensely negative coverage by the Kantipur Media Group, owned by Mr. Sirohiya.

Persons: Kailash Sirohiya, Rabi Lamichhane, Sirohiya Organizations: Kantipur Media, Mr Locations: Nepal, Pakistan, Bangladesh, India

Opinion Guest Essay Why the Pandemic Probably Started in a Lab, in 5 Key Points Illustration by Mike McQuade. Here’s what we now know:1 The SARS-like virus that caused the pandemic emerged in Wuhan, the city where the world’s foremost research lab for SARS-like viruses is located. Wuhan China Taiwan Laos South China Sea Thailand The pandemic started roughly 1,000 miles away, in Wuhan, home to the world’s foremost SARS-like virus research lab. Wuhan China East China Sea india Taiwan Myanmar Laos South China Sea philippines Thailand The pandemic started roughly 1,000 miles away, in Wuhan, home to the world’s foremost SARS-like virus research lab. In the United States, virologists generally use stricter Biosafety Level 3 protocols when working with SARS-like viruses.

Persons: Mike McQuade, Anthony Fauci, —, Shi Zhengli, Shi’s, Sarah Temmam et, Shi, coronavirus, EcoHealth, Peter Daszak, Biden, Daszak, Baric, Jesse Bloom, Fauci Organizations: Getty Images, National Institute of Allergy, Wuhan Institute of Virology, China East China, U.S, New York, Facebook Locations: United States, Wuhan, China, Yunnan, Southeast Asia, Laos, Yunnan province Taiwan Laos, Laos South China, Thailand, China East China, Taiwan Myanmar Laos South China, Laos philippines Thailand, Taiwan Laos South China, China East, philippines Thailand, Wuhan China Taiwan Laos South China, Wuhan China East China, China Wuhan East China, Covid, MERS

☆ European markets set to open higher ahead of ECB decision later this week
▼ + stars: | 2024-06-03 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

European markets are poised to start the month higher Monday as investors look ahead to the European Central Bank's latest interest rate decision later this week. The U.K.'s FTSE 100 was last seen 63 points higher at 8,340, according to IG data, while Germany's DAX was up 173 points at 18,652. France's CAC was 62 points higher at 8,041and Italy's MIB was up 359 points at 34,893. The move would mark the first time the ECB has cut rates ahead of the U.S. Federal Reserve. U.S. stock futures also started the month in positive territory, coming off the back of a strong May in which all three major averages notched their sixth positive month in seven.

Persons: Germany's DAX, China's Organizations: Central, CAC, ECB, U.S . Federal Locations: Spain, France, Germany, Asia, Pacific

☆ Ukraine’s largest hydroelectric dam in critical condition after Russian strikes, authorities say
▼ + stars: | 2024-06-02 | by ( Niamh Kennedy | ) edition.cnn.com time to read: +2 min

CNN —Ukraine’s largest hydroelectric dam, the Dnipro Hydroelectric Power Plant (HPP), is in “critical condition” after it was hit in a Russian strike on Ukraine’s key energy facilities, authorities say. The head of the Zaporizhzhia region military administration, Ivan Fedorov, told Ukrainian television that the power plant can no longer produce electricity. Russia has continued its tactic of striking key energy facilities this week, with the Ukrainian Ministry of Energy warning Sunday of a “significant power shortage” as a knock-on effect of the strikes. Last year, the Nova Kakhovka dam, a major dam and hydro-electric power plant in Russian-occupied southern Ukraine collapsed. Russia denied any involvement in the disaster and in turn accused Ukraine of destroying the dam, without providing evidence.

Persons: CNN —, Ivan Fedorov, ”, Volodymyr Zelensky, Joe Biden, “ Organizations: CNN, Dnipro Hydroelectric Power, Ukrainian Ministry of Energy, ” Ukraine’s Ministry of Energy, Frankivsk Locations: Dnipro, Russia, Ukraine, Zaporizhzhia, Dnipropetrovsk, Donetsk, Kirovohrad, Ivano, Kyiv, Russian, Kharkiv, Singapore, Asia, Pacific, Nova, Moscow

☆ In Singapore, China Warns U.S. While Zelensky Seeks Support
▼ + stars: | 2024-06-02 | by ( Chris Buckley | Damien Cave | ) www.nytimes.com time to read: +1 min

The competing strains on U.S. global power came into sharp focus at a security conference on Sunday, where China accused the United States of stoking tensions around Taiwan and the South China Sea, and President Volodymyr Zelensky of Ukraine was seeking greater support for his embattled country. This year, the United States Defense Secretary Lloyd J. Austin III and China’s defense minister, Adm. Dong Jun, held talks, something the top defense officials from the two countries have not always done at this gathering. But Admiral Dong made clear that China remained deeply antagonistic to U.S. influence and alliance-building across Asia, especially American support for Taiwan, the island democracy that Beijing claims as its territory. “These malign intentions are drawing Taiwan to the dangers of war,” Admiral Dong told the meeting after making an oblique but unmistakable reference to U.S. military and political support for Taiwan. “Anyone who dares split Taiwan from China will be smashed to pieces and court their own destruction.”

Persons: Volodymyr Zelensky, Lloyd J, Austin III, Dong Jun, Admiral Dong, ” Organizations: United States Defense, Taiwan Locations: China, United States, Taiwan, South China, Ukraine, Singapore, U.S, Asia, Beijing

☆ Ukraine's Zelenskyy accuses China of helping Russia to disrupt upcoming peace summit
▼ + stars: | 2024-06-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Ukraine's President Volodymyr Zelensky speaks during the 21st Shangri-La Dialogue summit at the Shangri-La Hotel in Singapore on June 2, 2024. SINGAPORE — Ukrainian President Volodymyr Zelenskyy on Sunday accused China of helping Russia to disrupt an upcoming peace summit by pressuring other countries not to attend. Zelenskyy, speaking at the Shangri-La Dialogue in Singapore, said that Russia is using Chinese influence in Asia to disrupt the summit. "Unfortunately, regrettably, Russia, using Chinese influence on the region, using Chinese diplomats, does everything to disrupt the peace summit," he said, according to a translation of his remarks, without giving specific examples. Zelenskyy also accused Russia of threatening other nations with blockades of goods such as agricultural exports, chemical products and high energy prices.

Persons: Volodymyr Zelensky, Volodymyr Zelenskyy, Vladimir, Putin, Zelenskyy Organizations: SINGAPORE —, CNBC, Chinese Foreign Ministry Locations: Singapore, SINGAPORE, China, Russia, Ukraine, Switzerland, Asia, regrettably, Moscow

☆ China’s growing e-commerce market is creating a new set of winners
▼ + stars: | 2024-06-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"Improving domestic ecommerce market share should lead to better monetization eventually," Yao said. The investment firm expects Douyin to match PDD's market share of 21% next year, and surpass it by reaching 22% in 2026. Tencent's WeChat Video Account platform is expected to retain about 2% to 3% of GMV market share through 2026, the Goldman analysis said. The video streaming platform last month reported e-commerce GMV grew by 28.2% year-on-year in the first quarter to 288.1 billion yuan ($40,55 billion). The firm forecasts Kuaishou's e-commerce GMV revenue will grow by 25% this year, although livestreaming revenue — which has accounted for about a third of total revenue — is expected to drop due to a high base.

Persons: James Yang, Bain, Joe Tsai, Emily Tan, Yang, Alibaba, Goldman Sachs, Ronald Keung, David Ma, China's, Morgan Stanley, Eddy Wang, Kenneth Fong, JD, David Beckham, Alex Yao, monetization, Yao, Tmall's GMV, Douyin, Alibaba's, Tencent's, Goldman, Sophie Huang, — CNBC's Michael Bloom Organizations: Bain and Company, PDD Holdings, Goldman, UBS, JPMorgan China, ByteDance, Hong Locations: China, Hong Kong, Asia, U.S, Alibaba, 2Q24, 2Q24E

Singapore CNN —China’s support to Russia will extend the war in Ukraine, President Volodymyr Zelensky said Sunday, as he called on countries across the Asia-Pacific to join an upcoming peace summit he accused Russia of trying to thwart. It comes ahead of the international peace conference on Ukraine slated to be held June 15-16 in Switzerland. “With China’s support to Russia the war will last longer. When asked later about China’s statement it would not attend the peace summit, the Ukrainian leader accused Russia of using Chinese diplomats to disrupt it. “Time is running out” including for Ukrainian children taken by Russia, Zelensky told a packed hall during an address on the closing day of the three-day security meeting.

Persons: Volodymyr Zelensky, Zelensky, China –, ” Zelensky, “, Putin, of National Defense Dong, ” Dong, Lloyd Austin, Dong, Russia ”, Vladimir Putin, ”, Austin, Prabowo Subianto, José Ramos, Pat Ryder, Joe Biden Organizations: Singapore CNN —, of National Defense, CNN, China’s Ministry of Foreign Affairs, Criminal, Ministry of Foreign, US Defense, Horta, Ukraine, Pentagon, Twitter Locations: Singapore, Russia, Ukraine, Asia, Pacific, China, Switzerland, Beijing, Kharkiv, The Hague, United States, Timor

☆ What was it like to cook for Xi Jinping and Emmanuel Macron?
▼ + stars: | 2024-06-01 | by ( Maggie Wong | ) edition.cnn.com time to read: +8 min

The chance to cook for a mystery guestChef Mauro Colagreco, seen here shaking Chinese leader Xi Jinping's hand, was one of three chefs invited to prepare the recent state dinner in France. In addition to the Plaisance restaurant in Hong Kong, his restaurant group now has five establishments in mainland China. Then, on the morning of the state dinner, the Mirazur team arrived to start preparing for the evening alongside the other chefs. Lai Sun DiningAt Colagreco’s Plaisance restaurant in Hong Kong, diners will get to sample all three of the dishes Xi and Macron were served during the recent state dinner. The cost of the three-course option starts from 1,888 Hong Kong dollars ($241), while the six-course menu is 2,888 Hong Kong dollars ($369).

Persons: Xi Jinping, he’s, Xi, Emmanuel Macron, Mauro Colagreco, Xi Jinping's, Laurent Blevennec, Colegreco, Colagreco, “, ”, Fabrice Desvignes, Brigitte Macron, France’s, It’s, Mauro Colagreco's, Peng Liyuan, Pierre Gagnaire, Vin Jaune, verbena pavlova, Nina Métayer, Fromagerie Organizations: Hong Kong CNN, CNN, Michelin, Colagreco's, Colagreco’s, Hong Locations: Hong Kong, bao, Beijing, Europe, Paris, China, France, Plaisance, Menton, Elysee, Argentine, Mirazur, Asia, Shanghai, Cognac, Port, Madeira, Jura, refiner, Colagreco's Plaisance, Colagreco’s Plaisance

☆ India’s scorching heat and lack of water leave Delhi’s poor to suffer worst of climate crisis
▼ + stars: | 2024-06-01 | by ( Esha Mitra | ) edition.cnn.com time to read: +5 min

New Delhi CNN —There’s no fresh water in the slums of Delhi’s Chanakyapuri neighborhood. She tried to run back for it – but it was too late, the water had run out. Residents in Delhi’s Chanakyapuri neighborhood clamber to get water under baking heat on May 31, 2024. As record heat grips northern India, the Delhi government has been forced to ration these free water deliveries. But if they get to the hospital late and the intervention is late, the mortality rate is so high.

Persons: New Delhi CNN —, Shah, Vijay Bedi, ”, it’s, Poonam Shah, Ram Manohar Lohiya, Ajay Shukla, Anupam Nath, ” Dr Shukla, Kali Prasad, aren’t, Farwa Aamer, Aamer Organizations: New, New Delhi CNN, CNN, Indian Meteorological Department, Ram, “, Workers, Asia Society Policy Institute Locations: New Delhi, Delhi’s Chanakyapuri, India, Delhi, Guwahati, South Asia

He also warned that the death of any Filipino citizen at the hands of another country in the South China Sea would be “very close” to an act of war. It is also a rare opportunity to hear from, and pose questions to, senior Chinese military leaders. Robert Ward, IISS Japan chair, told CNN he felt Dong’s tone was “more shrill” than he’s seen in previous speeches by Chinese defense chiefs at the gathering. “The strategic environment in Asia has actually got more tense and I think we saw that in the Chinese defense minister’s speech today,” Ward said. “Every year for three years, a new Chinese defense minister has come to Shangri-La,” the official told CNN.

Persons: Dong Jun, ” Dong, ”, Xi Jinping, Dong, Lloyd Austin, ” China’s, “, Lai Ching, China, Ferdinand R, Marcos Jr, Austin –, China “, Robert Ward, he’s, ” Ward, they’ve Organizations: Singapore CNN, Taiwan, National Defense, Communist Party, Democratic Progressive Party, China’s Defense Ministry, South China, Austin, International Institute for Strategic Studies, CNN, US Locations: Singapore, Beijing, Taiwan, United States, China, Taiwan Strait, East, South, South China, Philippines, ”, American, The Hague, Philippine, Ukraine, Dong, Russia, Asia, Pacific, Japan

Zelensky’s surprise attendance at the gathering is a stark illustration of Kyiv’s determination to keep the international community engaged in Ukraine’s defense – and its vision for peace – more than two years into Russia’s devastating invasion. A CNN team at the summit witnessed Zelensky and his delegation arriving. His attendance at the Shangri-la Dialogue in Singapore provides a rare opportunity for Zelensky to potentially meet with defense chiefs from across the Asia-Pacific, including China which has deepened its relations with Moscow since the war. US Defense Secretary Lloyd Austin and defense heads from US allies Australia, Japan, and South Korea, as well as China’s Defense Minster Dong Jun are expected to be in attendance for the three-day gathering. Announcing his arrival at the summit, Zelensky said in a statement on X that he would hold “a number of meetings,” in particular with Austin, Singapore’s president and prime minister, Timor-Leste’s president and Singaporean investors.

Persons: Volodymyr Zelenksy, Zelensky, Lloyd Austin, Dong Jun, ”, Austin, Rustem Umerov, “, Roman Pilipey, Zelenksy, Ukraine’s, Dong, Vyacheslav Madiyevskyy, –, It’s, Sergey Lavrov, Joe Biden, Biden, Donald Trump, CNN’s Ivan Watson, Xiaofei Xu, Alex Stambaugh, Natasha Bertrand, Sharon Braithwaite Organizations: Singapore CNN —, CNN, US, Austin, Ukrainian Defense, Getty, NATO, Russia, Northern, Firefighters, Reuters, Ministry, RIA Novosti, Russian, Key Locations: Singapore, Asia, Kharkiv, China, Moscow, Australia, Japan, South Korea, Timor, Ukraine, AFP, Switzerland, Sweden, Russia, Europe, North Korea, Beijing, Beijing’s, Russian, Reuters Beijing, Zelensky, Kyiv

☆ She’d only known her future husband for five days when he proposed. Here’s what happened when she said yes
▼ + stars: | 2024-05-31 | by ( Francesca Street | ) edition.cnn.com time to read: +15 min

But Meryl and Tim had talked all evening, into the early hours, gradually shuffling closer and closer to one another. And while it had only been five days, Meryl felt certain Tim was “the right person.”“I’d dated other people, and I just never clicked with them,” she says today. Meryl RivettWhen Meryl and Tim crossed paths in September 1981, Meryl was 29. Tim felt the same way. Meryl felt that assuredness too.

Persons: Meryl Gage, Meryl, Tim Rivett, Tim, We’re, we’re, they’d, ”, “, Meryl wriggled, ’ ”, “ I’d, South America Tim, Tim's, Meryl Rivett, She’d, Karen, ’ ” Meryl, Here's Tim Rivett, Meryl Rivett Tim, who’d, ’, “ Meryl, England, Meryl Rivett That’s, hadn’t, gobsmacked, Mike, Jack, –, “ I’m, ” Meryl, Meryl’s, Lisa, Meryl she’d, Tim didn’t, Paul, he’d, Meryl –, Meryl Rivett –, Tim weren’t, ‘, – Tim, Aussie, they’ve, Tim –, ” Tim, who’ve, They’ve, Tim aren’t Organizations: CNN, CNN Travel, South America, Florida State, Miami Beach Locations: South America, South, Florida, backpacked, Europe, London, Kathmandu, Australia, New Zealand, Southeast Asia, Queensland, America, Rio de Janeiro, England, Asia, Nepal, India, Miami, Brazil, Argentina, Iguazu, Patagonia, Colombia, Buenos Aires, Tierra del, Chile, ”, Central America

Qatar Airways is 2024's "Airline of the Year," according to AirlineRatings.com. This year's list is again dominated by Middle Eastern and Asia-Pacific carriers, though Europe's Air France/KLM entered the ranking at No. The complete top 25 list of premium airlines for 2024, according to AirlineRatings.com, is as follows:1. American AirlinesIn an article announcing the ranking, AirlineRatings.com Editor-in-Chief Geoffrey Thomas said "Qatar Airways came out number one in many key areas although it was a very close scoring for the top ten." Qatar Airways also won the "Best Business Class" category for the fifth time in a row, while Singapore Airlines was named "Best First Class" and Air New Zealand for "Best Economy Class."

Persons: Geoffrey Thomas Organizations: Qatar Airways, Air New, Europe's Air France, KLM, Korean, Cathay Pacific Airways, Air New Zealand, Emirates, Air France, All Nippon Airways, Etihad Airways, Qantas, Virgin, Vietnam Airlines, Singapore Airlines, TAP, JAL, Alaska Airlines, Lufthansa, Turkish Airlines, IGA Group, British Airways, Air Canada, Delta Air, United Airlines, American Airlines, Flight Entertainment, Doha's Qatar Airways, Dubai's, Abu Dhabi's Etihad Airways Locations: Doha, Air New Zealand, Eastern, Asia, Pacific, Virgin Australia, TAP Portugal, Swiss, Iberia, Dubai's Emirates

The meeting, between US Defense Secretary Lloyd Austin and China’s Minister of National Defense Adm. Dong Jun, is the first face-to-face talks between the two defense chiefs and Austin’s first such discussions with a Chinese counterpart since late 2022. The meeting, on the sidelines of an annual defense conference in Singapore, takes place against a fraught regional backdrop. Austin is expected to raise concerns with Dong about China’s support for Russia, US officials said ahead of the meeting. Talks between Austin and Dong are not expected to see substantive progress towards resolving many entrenched issues between them. Several weeks later, US and Chinese top generals spoke in a video call, paving the way for this week’s in-person meeting between the defense chiefs.

Persons: Lloyd Austin, Dong Jun, Austin’s, China’s, Austin, Dong, Nancy Pelosi, Li Shangfu, Li, won’t, Xi Jinping’s, Xi, Joe Biden Organizations: Singapore CNN, US, National Defense, South China Seas, Communist Party, Coast Guard, Defense, Washington, Russia, America, East, Communist, Central Military Commission Locations: Singapore, Asia, Pacific, Taiwan, Beijing, East, South, Japan, South Korea, Philippines, China, South China, American, Russia, Ukraine, Austin, Asia –, San Francisco

☆ Google conducts sweeping layoffs in its Cloud unit
▼ + stars: | 2024-05-31 | by ( Hugh Langley | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewGoogle's Cloud unit made sweeping job cuts this week. This story is available exclusively to Business Insider subscribers. Cloud teams focused on consulting, partner engineering, and sustainability were also affected by layoffs, according to the document. This week's Cloud layoffs appear to be more sweeping than Google's more surgical cuts to other teams in recent months.

Persons: —, we've, Kent Walker Organizations: Service, Cloud, Business, Google, BI Locations: Asia, Pacific

☆ How East West Bancorp has gained an edge by serving the Asian American community
▼ + stars: | 2024-05-31 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

East West Bancorp shares have eked out a small gain in 2024, up 2%. Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. American dream = home ownershipPart of what's helping East West succeed with Asian Americans goes all the way back to its origins. East West Bancorp was founded in 1973 as a federal savings and loan in the Los Angeles area to service the Chinese American and immigrant community struggling to obtain mortgages and business loans. East West also drives cross-border activity between the U.S. and other Asian countries, such as Thailand and Vietnam.

Persons: Alexander Yokum, Wells, Timur Braziler, Fannie Mae, Freddie Mac, —, Braziler, Christopher Del Moral, Niles, it's, Del, Steven Leung, Leung, CFRA's Yokum, Yokum, Dominic Ng, that's Organizations: East West Bancorp, Regional Banking, Bancorp, West Bancorp, CFRA, Federal Housing Finance Agency, East, East West, U.S, Bancorp's Locations: Southern California, U.S, United States, East, Los Angeles, Asia, FactSet, East West, New York, Beijing, China, Shanghai, Thailand, Vietnam, Washington

☆ 'No big deal': Mark Mobius says he'll stay bullish on India no matter the election results
▼ + stars: | 2024-05-31 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Mark Mobius, Chairman Mobius Emerging Opportunities Fund speaking on CNBC's The Exchange on March 27th, 2024. Adam Jeffery | CNBCVeteran emerging markets investor Mark Mobius said India's election outcome will not change his bullish views on the country. India's election results will be out on Tuesday next week. watch now"The big question mark is whether [Modi] can get a number of seats to change the constitution," Mobius told CNBC's "Street Signs Asia" on Thursday. But India's economic fundamentals remain "very strong and solid."

Persons: Mark Mobius, Adam Jeffery, Narendra Modi, Modi, Mobius, CNBC's, Gautam Chhaochharia, Chhaochharia Organizations: CNBC Veteran, Bharatiya Janata Party, BJP, UBS Locations: India

☆ Asia's top 4 up-and-coming rental markets that may be challenging traditional property hubs
▼ + stars: | 2024-05-31 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +3 min

Bangkok, Thailand has seen an 18.1% growth in residential rental prices on a year-on-year basis, according to JLL. Alexander Spatari | Moment | Getty ImagesSingapore and Hong Kong are generally considered Asia's more vibrant real estate markets. But some up-and-coming cities are giving these traditional hubs a run for their money, with some even beating them on rental yields. The following four cities have led the recovery in rental growth in Asia so far this year:Bangkok, ThailandResidential rental growth in Q1 2024 (y/y): +18.1% Average price to rent: THB 8,292 (about $226) per square meter annually "Rental demand has been surging in Bangkok," Allan said. This rental growth has been influenced by the stronger rent prices recorded in new high-quality offerings in the city, according to the report.

Persons: JLL, Alexander Spatari, Hong Kong, Roddy Allan, Allan, Ho Organizations: Getty Images, realty, Pacific Chief, CNBC Locations: Bangkok, Thailand, Getty Images Singapore, Hong Kong, Hong, Ho Chi Minh City, Jakarta, Manila, Asia, Pacific, expats, Vietnam, Indonesia, Philippines

☆ It's OK not to be the smartest person in the room, says this tech CEO
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: 1 min

Have you ever felt like everyone else in the room is smarter than you are? That might not be a bad thing, according to John Lombard, CEO of IT firm NTT Data in the Asia Pacific. "You don't have to be the smartest person in the room," he told CNBC's "My Biggest Lessons." "Always employ people that you think are smarter than you are." They have a knack for challenging the status quo, rather than simply accepting the norm, Lombard noted.

Persons: John Lombard, CNBC's, Lombard Organizations: NTT Data Locations: Asia

☆ Goldman Sachs names top global stocks to play the coming power boom in AI and other areas
▼ + stars: | 2024-05-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The artificial intelligence boom is fueling demand for power, with many tech companies rapidly developing infrastructure as they compete for dominance. Data centers house vast amounts of computing power needed for AI workloads, and are intense power-guzzling workhorses. But the need for power goes beyond data centers and other infrastructure, according to Goldman. Goldman cited studies which showed that AI data centers can consume up to 10 times the energy of their regular counterparts. Taiwan's tech industry extends across a "comprehensive global AI supply chain," with tech manufacturers consuming a "substantial" amount of power.

Persons: Goldman, — CNBC's Michael Bloom Locations: Asia, China, Taiwan, South Korea, India, South Korea's, Power, Australia

☆ EU's 14th sanctions package must target circumvention, energy exports, Zelenskyy advisor says
▼ + stars: | 2024-05-31 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

The European Union's upcoming 14th sanctions package against Russia must do more to choke off energy exports and clamp down on circumvention by third parties, an advisor to the office of Ukrainian President Volodymyr Zelenskyy told CNBC. He noted that EU states would need to work more cohesively for sanctions to stand a chance of crossing the line by the end of next month as planned. "The most critical aspect of the 14th sanctions package is its adoption by the end of June, but some member states currently pose a challenge to this," Vlasiuk said via email Thursday. The EU's special envoy for the implementation of sanctions, David O'Sullivan, was in Kyiv on Thursday to discuss the latest sanctions package amid ongoing pushback from member states such as Hungary. Among the proposed measures is a ban on Russian liquified natural gas, or LNG, exports and a crackdown on sanctions circumvention via countries including Kremlin ally Belarus.

Persons: Volodymyr Zelenskyy, Vladyslav Vlasiuk, Vlasiuk, David O'Sullivan, Nataliia, Shapoval, Dmitry Birichevsky Organizations: CNBC, Kremlin, Russian Sanctions, EU, KSE Institute, Russian Foreign Ministry, Ria Locations: Wilhelmshaven, Germany, Russia, Kyiv, Hungary, Belarus, China, India, Ria Novosti, Ports, France, Belgium, Spain, Asia

☆ A Matter of Survival as South Asia’s Heat Wave Reaches 127 Degrees
▼ + stars: | 2024-05-31 | by ( Zia Ur-Rehman | ) www.nytimes.com time to read: 1 min

As South Asia bakes under a blistering heat wave, life-or-death decisions arrive with the midday sun. Abideen Khan and his 10-year-old son need every penny of the $3.50 a day they can make molding mud into bricks at a kiln under the open sky in Jacobabad, a city in southern Pakistan. But as temperatures have soared as high as 126 degrees Fahrenheit, or 52 degrees Celsius, in recent days, they have been forced to stop by 1 p.m., cutting their earnings in half. “This isn’t heat,” said Mr. Khan, sweat dripping down his face and soaking through his worn clothes. “It’s a punishment, maybe from God.”

Persons: Abideen Khan, ” Organizations: Asia bakes Locations: Asia, Jacobabad, Pakistan

☆ US defense chief hails security partnerships in Asia in face of Russia, China threats
▼ + stars: | 2024-05-31 | by ( Brad Lendon | Nectar Gan | ) edition.cnn.com time to read: +5 min

Singapore CNN —US Defense Secretary Lloyd Austin on Saturday hailed the arrival of a “new convergence” in the Indo-Pacific, as the United States fortifies strategic and security partnerships in the region amid rising threats from China and Russia. “Today, we are witnessing a new convergence around nearly all aspects of security in the Indo-Pacific,” Austin said at the Shangri-La Dialogue security forum in Singapore. Looming large in that regional vision is a more assertive China, which Austin alluded to without mentioning it by name. Austin’s emphasis of a “new convergence” in Asia Pacific appeared to have struck a raw nerve with the Chinese delegation in the audience. Austin also reaffirmed US commitment to the Asia Pacific region, saying peace and stability across the region are crucial for the whole world.

Persons: Lloyd Austin, ” Austin, Austin, Lai Ching, “ We’ve, We’ve, we’ve, ”, Joe Biden, Xi Jinping, Cao Yanzhong, “, Mr.Putin, Dong Jun, Dong, Ferdinand R, Marcos Jr Organizations: Singapore CNN — US, Saturday, “, South China Seas, Asia Pacific, NATO, Institute of War Studies, Academy of Military Sciences of, China’s, National Defense Locations: Singapore, United States, China, Russia, Taiwan, Beijing, South China, Asia Pacific, South, Washington, Asia, Ukraine, Philippines, Philippine

☆ European stocks head for lower open ahead of fresh inflation data
▼ + stars: | 2024-05-31 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

European stocks are poised for a lower open Friday, reversing gains from the previous session as investors await fresh inflation data. Euro zone inflation data due later in the session will by closely watched by investors for a signal on the path for monetary policy. Regional markets closed higher Thursday, shaking off negative sentiment from the previous two sessions as rising bond yields weighed on investor sentiment. U.S. stock futures ticked lower Friday as investors assessed the latest set of corporate earnings and looked ahead to a key inflation report. In Asia Pacific, markets rose on the back of fresh data from major economies across the region.

Organizations: Gross Locations: Italy, Asia Pacific

Search resuls for: "Asia"

25 mentions found