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☆ Singapore bank UOB sees stronger 2024 outlook, third-quarter net profit trails estimate
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: +1 min

The United Overseas Bank (UOB) building is pictured in the Raffles Place financial district in Singapore on August 10, 2023. Singapore's United Overseas Bank , or UOB, expected a stronger outlook for next year including better loan and fees growth, as it reported on Thursday a weaker-than-expected 1% drop in third-quarter net profit from a year earlier. UOB, Singapore's third-largest bank by assets, projected mid single-digit loan growth and double-digit fee growth for its 2024 outlook, versus low-to-mid single-digit loan growth and high single-digit fees growth for this year's outlook. UOB said July-September net profit dropped to S$1.38 billion ($1 billion) from S$1.40 billion a year earlier, mainly on the back of higher allowances for credit and other losses, as well as Citigroup integration costs. The profit was lower than the mean estimate of S$1.46 billion from four analysts polled by LSEG.

Persons: Wee Ee Cheong, UOB's, UOB Organizations: United Overseas Bank, Raffles, Singapore's United Overseas Bank, Citigroup, LSEG Locations: Singapore, Southeast, ASEAN

☆ India's festival season to bring some cheer to economy, say economists
▼ + stars: | 2023-10-26 | by ( Milounee Purohit | ) www.reuters.com time to read: +3 min

Nearly 75% of economists, 25 of 33, said spending during this year's festival season, which lasts from October through December, will be higher compared to last year. Among those, 21 said slightly higher and four said significantly higher. "From a year-on-year growth rate perspective, it may not be a substantial upside so to speak." Economists generally agree India needs an even higher growth rate to generate enough jobs for millions of young people who enter the workforce every year. When asked what was India's potential economic growth rate over the next 2-3 years, economists returned a median range of 6.0%-7.0%.

Persons: Anushree, Dhiraj Nim, Alexandra Hermann, Milounee Purohit, Anant Chandak, Susobhan Sarkar, Veronica Khongwir, Hari Kishan, Ross Finley, Sharon Singleton Organizations: REUTERS, Rights, Reuters, Reserve Bank of, ANZ Research, Oxford Economics, Thomson Locations: Delhi, India, Reserve Bank of India

☆ The founder of Chinese property developer Evergrande — who was once Asia's second-richest person — is no longer a billionaire
▼ + stars: | 2023-10-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Once China's second-largest property developer, Evergrande has been mired in a debt crisis since 2021. AdvertisementAdvertisementHui Ka Yan, the founder and chairman of embattled Chinese property developer Evergrande, was once Asia's second-richest person worth $42 billion in 2017. Currently worth $979 million, Hui's net worth followed a dive in the share price of Evergrande amid a real-estate sector meltdown in China. Hui's wealth has also taken a big hit from the recent wild swings in the company's share price on the Hong Kong Stock Exchange. AdvertisementAdvertisementEvergrande's share price was up 0.4% at 24 Hong Kong cents, or 5.4 cents, at 10.05 a.m. Hong Kong time on Wednesday.

Persons: China's, Evergrande, —, Yan, Hui —, Hui, Stocks Organizations: Service, Bloomberg, Hong Kong Stock Exchange, Reuters, Hong Locations: China, Evergrande, Hong Kong

SEOUL, Oct 26 (Reuters) - South Korea's economy fared better than expected in the third quarter with the expansion underpinned by exports, backing the case for the central bank to keep rates on hold for the months ahead. Government spending grew 0.1%, and construction investment expanded 2.2% after contracting 0.8% in the second quarter. On an annual basis, Asia's fourth-largest economy grew 1.4% in the third quarter, after a 0.9% gain in the second quarter and beating a 1.1% rise expected by economists. South Korea's central bank held interest rates steady for a sixth straight meeting last week, retaining a tightening bias on monetary policy as it warned of inflationary risks from the Israel-Hamas conflict and global oil prices. In a separate Reuters survey conducted early this month, South Korea's economic growth was forecast to slow to 1.2% in 2023 from 2.6% in 2022.

Persons: Ed Davies, Sam Holmes Organizations: Gross, Bank of, Thomson Locations: SEOUL, Bank of Korea, Korea's, Israel

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. GAS HEAVY GENERATIONThe main driver of Thailand's LNG imports - which have jumped by 127% since 2019 - is its gas-heavy electricity generation system. Since 2015, natural gas capacity expansions have accounted for 72% of Thailand's total increases in electricity generation capacity, Ember data shows. TRACKING PROGRESSA key solace for transition advocates is that the development of new electricity generation capacity may be more important than historical capacity development trends. For the near term, however, the strong growth pace of Thailand's LNG imports suggests fossil fuels have most of the expansion momentum in Thailand's energy system.

Persons: Issei Kato, Ember, Gavin Maguire, Robert Birsel Organizations: REUTERS, Energy Institute, Singapore Coal, LNG, Reuters, Thomson Locations: Futtsu, Tokyo, Japan, LITTLETON , Colorado, Thailand, LNG, Qatar, Australia, Malaysia, Southeast Asia, Asia, Indonesia, Gulf, Vietnam, South East Asia

☆ Asian stocks bounce on China spending plans; inflation jolts Aussie
▼ + stars: | 2023-10-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.9% and the Hang Seng (.HSI) 2%. China's top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported adding the funds would be spent rebuilding disaster zones and improving infrastructure. Investors pulled forward European rate cut expectations a little and the euro was nursing losses at $1.0594. The annual pace of inflation in Australia slowed in the third quarter, but at 5.4% was above forecasts of 5.3%. Oil fell in commodity trade on Tuesday, thanks to the weak economic data from Europe, and was nursing losses on Wednesday.

Persons: Dado Ruvic, hawkish, Bonds, Steven Leung, UOB Kay Hian, Leung, Glenn Yin, Lincoln Organizations: REUTERS, Japan's Nikkei, Treasury, Central, Central Huijin, Investors, 25bp, ANZ, Brent, AETOS Capital Group, U.S . Securities, Exchange Commission, Thomson Locations: China, SINGAPORE, Asia, Pacific, Japan, Tokyo, U.S, Hong Kong, Central, Australia, Europe, Melbourne, United States, Russia, Israel, Gaza, BlackRock

HONG KONG, Oct 25 (Reuters) - Hong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub would not be possible without a major improvement in China's economic prospects. With a market value of around $4.3 trillion, Hong Kong is home to one of the top-ranked stock markets globally just behind those in the United States, Japan, China and Europe. New share offerings in Hong Kong have fizzled. Local media reported that a record 47 of the 638 trading participants on the Hong Kong exchange shut shop last year. Chinese firms listed in Hong Kong, such as tech giants Tencent (0700.HK) and Alibaba (9988.HK), comprise the bulk of the turnover on the Hong Kong exchange, leaving Hong Kong hostage to China's fortunes.

Persons: Hong, John Lee, Dickie Wong, Rob Brewis, Aubrey, Eddie Tam, Alvin Cheung, Cheung, ”, Alex Wong, Alex KY, Wong, who'd, Summer Zhen, Xie Yu, Vidya Ranganathan Organizations: Nasdaq, Kingston Securities, Seng China Enterprises, HK, Aubrey Capital Management, Hong, Asset Investments, Prudential, Asset Management Company, Global, Thomson Locations: HONG KONG, China, Hong Kong, United States, Japan, Europe, Shenzhen

☆ Asia energy transition struggles to attract private capital financing
▼ + stars: | 2023-10-24 | 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 EmailAsia energy transition struggles to attract private capital financing: Clifford CapitalAudra Low, CEO of the debt financing provider discusses what needs to change in order to have institutional investors choose to invest in Asia's clean energy infrastructure.

Persons: Clifford Capital Audra Low

☆ Australia's Treasury Wine surges on hopes of China revival
▼ + stars: | 2023-10-23 | by ( Archishma Iyer | ) www.reuters.com time to read: +2 min

SummaryCompanies China agrees to expedited review of wine import tariffsTreasury Wine gets set to rebuild China businessTreasury shares jump 5%Oct 23 (Reuters) - Australia's Treasury Wine Estates (TWE.AX) said on Monday it is well placed to rebuild its business in China, sending its shares up more than 5%, should Beijing's tariffs on Australian wine be removed as signalled by the two countries on the weekend. "Should tariffs be removed, these measures will be implemented sustainably and with the aim of growing the business in China," Treasury Wine, the world's biggest standalone winemaker, said in a statement. Treasury Wine used to make one-third of its profit in China but lost most of that business when Beijing imposed tariffs on Australian wine in 2021, after Canberra called for an inquiry into the origins of COVID-19. "If the tariffs are removed, we see this as a significant positive for the Australian wine export industry and specifically Treasury Wine," Goldman Sachs analysts said in a research note. Measures for reviving its China business would include shifting a portion of Penfolds Luxury from other markets back to China and rebuilding distribution for the Penfolds Australian entry-level luxury portfolios, the company said.

Persons: Treasury Wine, Goldman Sachs, Archishma Iyer, Lisa Shumaker, Diane Craft, Sonali Paul Organizations: Treasury Wine, Treasury, Wine Estates, Sunday China, Thomson Locations: China, Beijing, Canberra, Bengaluru

☆ Australia's Treasury Wine looks to rebuild China business after tariff review
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +2 min

Oct 23 (Reuters) - Australia's Treasury Wine Estates (TWE.AX) said on Monday it is well placed to rebuild its business in China, should tariffs by China of the country's wine be removed, as signalled by the Australian government on Sunday. The Australian government, which is currently rebuilding its economic ties with Asia's largest economy, had said that an expedited review of tariffs on Australian wine into China will commence and is expected to take up to five months. "Should tariffs be removed, these measures will be implemented sustainably and with the aim of growing the business in China," the company said in a statement. Some of the measures for Treasury Wine to build its China business include a re-allocation of a portion of Penfolds Luxury from other global markets back to China and to re-build its distribution for the Penfolds Australian entry-level luxury portfolios. The world's biggest standalone winemaker used to derive a third of its profits from China, before anti-dumping and subsidy tariffs of up to 212% were imposed on Australian wine in late 2020.

Persons: Archishma Iyer, Lisa Shumaker, Diane Craft Organizations: Wine Estates, Treasury Wine, Treasury, Thomson Locations: China, California, Australia, Bengaluru

A man is reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato Acquire Licensing RightsOct 23 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The ICE BofA Treasuries index fell 1.4% last week, its biggest fall since May, and is at an eight-year low. Perhaps ominously, however, Friday's bond market relief didn't ease the pressure elsewhere - Wall Street's three main indices still closed 0.9%-1.5% lower. According to Goldman Sachs, financial conditions in emerging markets and globally are the tightest in almost a year.

Persons: Issei Kato, Jamie McGeever, Treasuries, That's, Goldman Sachs, Pan Gongsheng, September's, Diane Craft Organizations: REUTERS, ICE, Traders, Bank of Japan, Australian PMI, PMI, Thomson, Reuters Locations: Tokyo, Japan, U.S, South Korea, Australia, Singapore, Asia, China, Australian

☆ In photos: The queer ‘renegades’ of 1990s San Francisco
▼ + stars: | 2023-10-19 | by ( Suyin Haynes | ) edition.cnn.com time to read: +8 min

CNN —Photographer Chloe Sherman had rarely used social media, until a chance discovery by her daughter prompted her to revisit her work documenting the queer community in 1990s San Francisco. Although she had previously exhibited some photographs from her time in San Francisco, the majority of her work, which she shot on 35-millimeter film, only existed as negatives. So, after Sherman’s daughter and a friend helped create an Instagram account for her, she began digitizing and uploading her photos onto the platform. In this context, San Francisco was widely seen as a safe haven, with a long history of welcoming LGBTQ people. For Sherman, who had grown up making photographs and later studied at the San Francisco Art Institute, it felt important to document the moment.

Persons: Chloe Sherman, Sherman’s, ”, ” Sherman, Sherman, Paula, Carmen, San Francisco, Brandon Teena, Matthew Shepard, Castro, America’s, Harvey Milk, Chloe Sherman Sherman, “, ’ ”, Anna Joy, lounging, isn’t, —, San Francisco — Organizations: CNN, “ Renegades, San Francisco’s Mission, Fair, San Francisco Art Institute, Anna Joy Post, Sherman, Mission Locations: San Francisco, City, San, Schlomer, Berlin, Germany, San Francisco’s, Francisco, Folsom, Folsom St, California, Portland , Oregon, ”, Mission

☆ Asian stocks fall, gold at over 2-month high as Middle East tension weighs
▼ + stars: | 2023-10-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

U.S. stocks ended sharply lower on Wednesday as elevated Treasury yields weighed, with investors assessing the latest batch of quarterly corporate results and forecasts. Tesla (TSLA.O) CEO Elon Musk said on Wednesday that he was concerned about the impact of high interest rates on car buyers as the company missed Wall Street expectations on third-quarter gross margin, profit and revenue. Meanwhile, Federal Reserve policymakers are signalling a pause in hiking interest rates for another couple months. A Reuters poll of economists indicated that the Federal Reserve will keep its key interest rate on hold on Nov. 1 and may wait longer than previously thought before cutting it. Spot gold was at $1,948.16 per ounce, just shy of $1,962.39 its highest since Aug. 1 touched on Tuesday.

Persons: Aly, Treasuries, Anderson Alves, Joe Biden, Alves, Elon Musk, Christopher Waller, Jerome Powell, Brent, Ankur Banerjee, Christopher Cushing Organizations: REUTERS, Rights, Japan's Nikkei, Gaza, HK, Reuters, Taiwan Semiconductor Manufacturing Co, Reserve, European Economics & Financial, Federal Reserve, OPEC, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, Asia, Pacific, Japan, U.S, Israel, China's, London, United States, Venezuela

☆ TSMC Q3 profit falls 24.9%, beats expectations
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

A smartphone with a displayed TSMC (Taiwan Semiconductor Manufacturing Company) logo is placed on a computer motherboard in this illustration taken March 6, 2023. The forecast-beating results by the world's most advanced chipmaker follows better-than-expected quarterly profit from rival Samsung Electronics (005930.KS) earlier this month. Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , the world's largest contract chipmaker and a major Apple Inc (AAPL.O) supplier, saw July-September net profit fall to T$211 billion from T$280.9 billion a year earlier. The profit beat a T$195.5 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. Capital expenditure in the third quarter was $7.1 billion, TSMC said, compared with $8.17 billion in the previous quarter.

Persons: Dado Ruvic, TSMC, TW, Sarah Wu, Yimou Lee, Jacqueline Wong Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Samsung Electronics, Taiwan Semiconductor Manufacturing Co, Apple Inc, Thomson Locations: TAIPEI, U.S, China, Taipei

☆ The fake doctors behind Asia's cosmetic surgery boom
▼ + stars: | 2023-10-19 | by ( Robert Leslie | Brittany Stephanis | ) www.businessinsider.com time to read: 1 min

Unrealistic beauty standards are driving more and more people to seek out underground operators for cosmetic procedures. In Thailand, unlicensed practitioners are known as "bag doctors" since they travel from client to client with all their tools of the trade in a bag. They charge hundreds of dollars less than certified clinics, but things can go wrong. So why are people gambling with their looks, and what is the true cost of rolling the dice?

Locations: Thailand

☆ India and Japan will be Asia's next power couple
▼ + stars: | 2023-10-19 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

Indian Prime Minister Narendra Modi welcomes Japan Prime Minister Fumio Kishida upon his arrival at Bharat Mandapam convention center for the G20 Summit, in New Delhi, India, Saturday, Sept. 9, 2023. Evan Vucci/Pool via REUTERS Acquire Licensing RightsBENGALURU, Oct 19 (Reuters Breakingviews) - India and Japan are edging closer. Prime Minister Narendra Modi and Prime Minister Fumio Kishida's governments form part of the so-called Quad security grouping with the United States and Australia to counter Chinese expansionism in Asia. Now the two countries are setting up an investment fund together. That’s delivering on a pledge by Kishida to invest 5 trillion yen, or some $42 billion, into India over the next five years.

Persons: Narendra Modi, Fumio Kishida, Evan Vucci, Fumio, Kishida, Wood Mackenzie, Sajjan Jindal, India’s, Lakshmi Mittal, JBIC, Una Galani, Thomas Shum Organizations: Indian, Japan, Bharat, REUTERS Acquire, Rights, Reuters, National Investment, Infrastructure Fund, Japan Bank, International Cooperation, Japan External Trade Organization, Nippon Telegraph, Telephone, Reuters Graphics, Teck Resources, Nippon Steel, ArcelorMittal, Japan Fund, Thomson Locations: New Delhi, India, Japan, United States, Australia, Asia, Reuters Graphics India, China, Russia, South, Teck, Indian

SINGAPORE, Oct 18 (Reuters) - The International Monetary Fund (IMF) downgraded its 2023 and 2024 growth forecasts for China, saying its recovery was "losing steam" and citing weakness in its property sector. The report projected that a prolonged housing market correction in China would in the near-term "trigger greater financial stress among property developers and larger asset quality deterioration". The IMF's 2023 outlook for Asia and the Pacific was brighter, with IMF calling it "the most dynamic region this year". Growth in Asia and the Pacific, however, is expected to slow to 4.2% next year. Central banks in the region, however, should guard against easing monetary policy prematurely, the IMF added.

Persons: Kanupriya Kapoor Organizations: Monetary Fund, IMF, Thomson Locations: SINGAPORE, China, Asia, Disinflation, Japan, Central

[1/2] Thailand's Prime Minister Srettha Thavisin arrives at Beijing Capital International Airport to attend the Third Belt and Road Forum in Beijing, China, October 16, 2023. "And if you look at the month-by-month statistics, Chinese investments are still increasing," he told Reuters. "So I see that in the next two or three years, Chinese investments will still increase drastically in Thailand." But a large proportion of the 228 Chinese investments proposals this year have come in the electronics sector, according to the BOI. Chinese investments will likely continue for the next two years, Jareeporn said.

Persons: Srettha Thavisin, Tingshu Wang, General Narit Therdsteerasukdi, Srettha, Xiaomi Corp's, Alain Lam, Narit, Jareeporn Jarukornsakul, Jareeporn, Chayut, Shri Navaratnam Organizations: Thailand's, Beijing Capital International Airport, Forum, REUTERS, Rights, of Investment, Investment, Reuters, Thai, Initiative, HK, Toyota, Isuzu Motors, WHA, Thomson Locations: Beijing, China, Rights BANGKOK, Thailand, Singapore, Southeast Asia's, Thailand's, Thai

A logo of Taiwanse chip giant TSMC can be seen in Tainan, Taiwan December 29, 2022. The likely decline in profit also reflects a strong performance last year, when the company was still riding high on pent-up post-pandemic demand. The world's largest contract chipmaker is set to report net profit of T$195.9 billion ($6 billion) for July-September - its second straight quarter of profit decline, according to an LSEG SmartEstimate drawn from 19 analysts. Given that, much of Thursday's focus will be on TSMC's outlook for the fourth quarter and beyond. Fubon Securities expects a slow start to next year for TSMC, with 10% growth in the first quarter, predicting order cancellations towards the year end and mild restocking demand.

Persons: Ann Wang, SmartEstimates, Morgan Stanley, SmartEstimate, TSMC, Sarah Wu, Ben Blanchard, Emily Chan, Edwina Gibbs Organizations: REUTERS, Revenue, TAIPEI, Taiwan Semiconductor Manufacturing Co, TSMC's, Fubon Securities, TSMC, Apple, Thomson Locations: Tainan, Taiwan, Asia's, TSMC's Taipei

The decline has been driven by weakness in producing fuels such as gasoline and naphtha, even as the margin on middle distillates has performed strongly. The trend for refining in Asia is increasingly characterised by strong margins for middle distillates, which are enough to offset weakness in gasoline and even losses for naphtha. Asia's total exports were 7.4 million metric tons in September, equivalent to about 1.85 million bpd, according to data from LSEG. Data from commodity analysts Kpler is also far from convincing, with just 660,000 metric tons of diesel shipments from China so far in October. Effectively, Asia's refiners are happy to suffer weak margins on fuels such as gasoline and naphtha because the profits on middle distillates are so high.

Persons: it's, refiners, Robert Birsel Organizations: REUTERS, Rights, China, Reuters, Thomson Locations: Kolkata, India, Rights LAUNCESTON, Australia, Asia, Singapore, Dubai, OPEC, Saudi Arabia, China, Beijing

☆ AirAsia exec posts shirtless photo of himself getting a massage during a 'management meeting,' sparking debate
▼ + stars: | 2023-10-17 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

AirAsia co-founder Tony Fernandes posted a picture of himself receiving a massage while shirtless at work. The LinkedIn post generated debate online, with many saying it was unprofessional. AdvertisementAdvertisementAirAsia co-founder Tony Fernandes has sparked debate online after posting a photo on LinkedIn showing himself getting a shirtless massage during a management meeting. "Was a stressful week and Veranita Yosephine suggested a massage," Fernandes wrote on LinkedIn early Monday morning, referencing AirAsia Indonesia CEO Veranita Yosephine. Spokespeople for AirAsia and AirAsia Indonesia did not respond to Insider's requests for comment, and the LinkedIn post has since been taken down.

Persons: Tony Fernandes, Fernandes, —, Veranita Yosephine Organizations: AirAsia, Service, LinkedIn, AirAsia Indonesia, Capital Locations: Indonesia, Malaysian, Asia, Japan, Thailand, Capital

Oct 18 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Wall Street closed flat to slightly lower on Tuesday, after forecast-busting U.S. retail sales data stoked expectations for another Fed rate hike by year-end and pushed Treasury bond yields sharply higher. Blame bumper U.S. retail sales, which also sparked a spree of upward revisions to U.S. growth forecasts. With nearly $11 billion of offshore bonds and $6 billion of offshore loans, a Country Garden default would tee up one of China's biggest corporate debt restructurings. Here are key developments that could provide more direction to markets on Wednesday:- China GDP (Q3)- China retail sales, investment, unemployment, industrial production (September)- U.S. President Biden visit to IsraelBy Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, chipmakers, Joe Biden's, Biden, Josie Kao Organizations: Wall Street, Bank of America, U.S, Wednesday, Atlanta, U.S ., Asia's, Thomson, Reuters Locations: China, Israeli, Gaza, Israel, U.S

☆ Southeast Asia looks to renewable power for energy security
▼ + stars: | 2023-10-17 | by ( Audrey Wan | ) www.cnbc.com time to read: +4 min

As energy demand grows, the region is turning to renewable energy to safeguard its energy security. Most, if not all, Southeast Asian markets have taken strides to announce renewable energy targets and formulate their low-carbon energy transition plans, said Thoo. Other planned developments include an integrated renewable energy zone, five centralized large-scale solar parks and three green hydrogen production plants. These projects will leverage Malaysia's estimated 290 gigawatts of technical renewable energy potential to create a more resilient, low-carbon power system, said the ministry. Renewable energy sources such as wind and solar are projected to account for at least 31% of national energy needs by 2030, the government said, according to Reuters.

Persons: EDPR, Bryan van der Beek, Zulfikar Yurnaidi, David Thoo, Zulfikar Organizations: EDPR Sunseap, Energias de Portugal SA, Bloomberg, Getty, Energy, International Energy Agency, ASEAN Center for Energy, BMI Fitch Solutions, Zulfikar Yurnaidi ASEAN Center for Energy, Indonesia Malaysia Malaysia, Ministry, Reuters Locations: Energias, Woodlands, Singapore, Asia, Southeast Asia, Ukraine, Israel, Europe, Malaysia, Indonesia, Vietnam

☆ Southeast Asia haze returns as peatland fires fan global warming fears
▼ + stars: | 2023-10-16 | by ( Clement Tan | ) www.cnbc.com time to read: +9 min

watch now"The issue is that currently, most governments haven't really looked at the haze and climate change as a unified issue, yet. Something seasonal, that comes and goes, while climate change is something constant and developing," she added. United Nations Environment ProgramMalaysian officials are undoubtedly haunted by the memory of the 2015 and 2019 transboundary haze episodes. School closures were effected in Indonesia, Malaysia and Singapore — affecting nearly four million students in Malaysia alone. Vicious cycle in the peatlandsThe haze in southern Southeast Asia is emitted mostly from massive peatland fires in Sumatra and Borneo.

Persons: Al Zulkifli, Helena Varkkey, haven't, Siti Nurbaya Bakar, Jusuf Kalla, El Nino, El, Vicious, Varkkey, Sharon Seah, Ulet Ifansasti Organizations: Afp, Getty, El Nino, Universiti, CNBC, ASEAN, Jakarta Globe, United Nations Environment Program Malaysian, World Bank, Kuala, Airport, Nurphoto, ASEAN Specialized Meteorological, Asia, Yusof, Institute, United Nations Environment Program, UNEP, Malaysian, Anadolu Agency, Global, Greenpeace, Oil Locations: Ogan Ilir, South Sumatra, Al, Southeast Asia, Asia, Universiti Malaya, Kuala Lumpur, Peninsular Malaysia, Indonesia, Kalimantan, Malaysia, Indonesian, Jakarta, Brunei, Singapore, Thailand, Philippines, Sumatra, El Nino, Borneo, Palem Raya, Borneo . Forest, Anadolu, Eco

Coal barges are pictured as they queue to be pulled along the Mahakam river in Samarinda, East Kalimantan province, Indonesia, August 31, 2019. REUTERS/Willy Kurniawan/File Photo Acquire Licensing RightsJAKARTA, Oct 16 (Reuters) - Indonesia will seek China's help for renewable energy and infrastructure projects when President Joko Widodo attends the upcoming Belt and Road Forum in Beijing, a cabinet minister said. Erick declined to share JETP talk details, saying only: "We cannot wait...there hasn't been any funding as yet." "We want this to fit our grand plan, the Indonesia blueprint, not the blueprint of other countries," Erick said. Indonesia also discussed the plan with Chinese Premier Li Qiang when Li visited Jakarta in September.

Persons: Willy Kurniawan, Joko Widodo, Erick Thohir, Erick, JETP, hasn't, Xi Jinping, Jokowi, Premier Li Qiang, Li, Gayatri Suroyo, Stefanno Sulaiman, Edwina Gibbs Organizations: REUTERS, Rights, Forum, Indonesian, United, Premier, Thomson Locations: Samarinda, East Kalimantan, Indonesia, Rights JAKARTA, Beijing, China, U.S, United Nations, Jakarta, Jokowi, Surabaya

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