Capital and country in asia

- A + A (May 16): As spiraling inflation spreads across the globe, emerging-market bonds from Turkey to Thailand are feeling the brunt. Local-currency debt from developing nations -- which is far more sensitive to a country’s domestic inflationary pressures than dollar denominated equivalents — has slumped almost 9% this year, the most since at least 2008, according to a Bloomberg index. There’s unlikely to be any relief soon as central bankers around the world attempt to control surging prices by raising interest rates even more aggressively — potentially risking growth in doing so. That certainly wasn’t the plan. Many developing economies led the charge in rate hikes last year, getting ahead of policy makers in the US and hoping to avoid a redux of the 2013 taper tantrum. But with inflation raging in the US and the strong dollar pressuring currencies elsewhere, these countries are now making a new rulebook. Policy makers across emerging nations are either … [Read more...] about Bond traders reel as inflation hits world’s emerging local debt

- A + A BENGALURU (May 16): McDonald's Corp on Monday became one of the biggest global brands to exit Russia, laying out plans to sell all its restaurants after operating in the country for more than 30 years, following the invasion of Ukraine. The world's largest burger chain, which owns about 84% of its nearly 850 restaurants in Russia, will take a related non-cash charge of up to US$1.4 billion following its sale. McDonald's had in March decided to close its restaurants in the country, including the iconic Pushkin Square location in central Moscow — a symbol of flourishing American capitalism in the dying embers of the Soviet Union. The burger chain represented the thawing of Cold War tensions and became a way to sample Western food and spirit for millions of people, even though the cost of a burger was several times bigger than the daily budgets of many city dwellers. "Some might argue that providing access to food and continuing to employ tens of thousands … [Read more...] about Golden arches to go dark in Russia as McDonald’s exits after 30 years

Editorial board (The Jakarta Post) Jakarta   ● Tue, May 17, 2022 2022-05-17 01:59 0 e16ff64e7ecc29b417414912230c9e4a 1 Editorial US,ASEAN,summit,China,Indo-Pacific,ambassador,Donald-Trump,Joe-Biden,Australia,Japan Free United States President Joe Biden still has a lot to prove to ASEAN, and for good reason. His divisive predecessor, Donald Trump, used his single term in office to refocus all of Washington’s energy and resources into one-upping China and dabbling in a volatile friendship with nuclear-armed North Korea. Under Trump, the merit of each Asian country was redefined based on how it related to China and the US’ interest in containing its rival’s sphere of influence in the Indo-Pacific. Southeast Asia’s multilateral platform, ASEAN, was relegated to a spot below countries like Japan and Australia that the US has a better handle on because of historical alliances and similar values, as was made clear in white papers on US foreign policy and … [Read more...] about Still much to prove

- A + A BENGALURU/MUMBAI/ZURICH (May 16): Indian conglomerate Adani Group plans to buy Holcim AG's cement businesses in India for US$10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer. Adani Group, owned by billionaire Gautam Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and real estate businesses. Under the deal, Adani Group will pay US$6.4 billion in cash to acquire Switzerland-based Holcim's 63.1% stake in Ambuja Cements Ltd and 54.5% holding in ACC Ltd, Holcim said in a statement announcing the deal late on Sunday (May 15). The rest of the companies' shares will be bought via an open offer, Adani said in a separate statement. "(We) will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion," Adani said. The deal, which was clinched after a fierce bidding war with the … [Read more...] about Adani to become India’s No. 2 cement maker with US$10.5 bil Holcim deal

Share to Twitter Share to Linkedin It takes a lot to become a global beauty sensation, but Sunnies Face managed to do so practically overnight. When the brand launched in the Philippines, their website crashed just before reaching 3 million views and the line sold out in 10 minutes at their launch party. Their hero product Fluffmatte, a matte lipstick, has sold almost three million bullets, with one sold every 30 seconds, propelling them to the best-selling lipstick in the Philippines. Sunnies Face brought Southeast Asian beauty to the forefront of the global beauty scene and they’re finally launching stateside today. Sunnies Face was a natural extension of the lifestyle brand Sunnies Studios and Sunnies Café, eyewear and food businesses, respectively. Sunnies Face was founded by Jessica Wilson, Brand Manager; Martine Ho, Creative Director; and Georgina Wilson, Brand Director. “Whenever we would launch a campaign, everyone would ask what lip color was used on … [Read more...] about Cult-Favorite Filipina Beauty Brand Sunnies Face Lands In The U.S.

A. Muh. Ibnu Aqil (The Jakarta Post) PREMIUM Jakarta   ● Tue, May 17 2022 Experts are divided about the Joe Biden administration’s plan to usher in a “new era” of United States-Southeast Asia relations following the conclusion to last week’s US-ASEAN Special Summit in Washington, D.C. President Biden hosted eight ASEAN leaders, including President Joko “Jokowi” Widodo, as well as the regional grouping’s secretary-general Lim Jock Hoi over two days of meetings that covered a broad range of issues, from health security to climate action, and from expanding education access to enhancing maritime cooperation. The US-ASEAN summit was only the second meeting of its kind since February 2016, a year before Donald Trump ascended to the presidency and limited the scope of that country’s Asian interests to China and North Korea. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,500/month Unlimited access to our web and app content e-Post daily digital … [Read more...] about Longevity in question at US-ASEAN meet

Tony Gamal-Gabriel (AFP) Baghdad, Iraq   ● Tue, May 17, 2022 2022-05-17 00:52 0 e16ff64e7ecc29b417414912230c6080 2 Environment Iraq,sandstorm,hospitalized,people,environment,health Free Another sandstorm that descended Monday on climate-stressed Iraq sent at least 4,000 people to hospital with breathing problems and led to the closure of airports, schools and public offices across the country. It is the eighth dust storm since mid-April to hit Iraq, which has been battered by soil degradation, intense droughts and low rainfall linked to climate change. The last one earlier this month led to the death of one person, while more than 5,000 others had to be hospitalised for respiratory problems. On Monday, a thick cloud of dust enveloped the capital Baghdad in an orange glow and blanketed many other cities including the Shiite shrine city of Najaf to the south, and Sulaimaniyah in the northern Kurdish autonomous region, AFP correspondents said. Yellow … [Read more...] about Thousands hospitalised as latest sandstorm brings Iraq to standstill

Calls for the revival of the price stabilization fund for oil have resurfaced in recent months as the successive and hefty fuel price hikes have put a dent in the budget of Filipino consumers, but a government think thank is urging policymakers to stay the course of reforms set in place in the late 1990s. A study released by the Philippine Institute for Development Studies (PIDS), however, said reinstating the Oil Price Stabilization Fund (OPSF) is not the solution to fuel price woes. During the campaign period, presidential candidates Ferdinand Marcos Jr. and Manny Pacquiao proposed reinstating the OPSF should they win in this year’s election to shield the country from the impact of rising fuel costs, mainly driven by Russia’s invasion of Ukraine. The Philippines is a net oil importer. Hence, global developments have a significant impact on pump prices locally. Adoracion Navarro, senior research fellow at the PIDS, said such a move would spell a reversal of the downstream oil … [Read more...] about Gov’t think tank warns against oil deregulation backslide

LONDON, May 16 (Xinhua) -- Britain's Home Secretary Priti Patel announced new measures on Monday that will increase police powers to stop and search individuals to help fight knife crime and serious violence across the country. In a letter to police forces across Britain, Patel has permanently lifted restrictions on police stop-and-search powers in areas where serious violence is anticipated. The British police recorded 6 million crimes in England and Wales in the year ending December 2021, according to a report published in April by the Office for National Statistics (ONS). The figure represented an 8 percent increase compared with the year ending December 2020. Meanwhile, the number of homicides increased by 14 percent to 691 offenses. London, the capital, recorded its worst ever annual teenage homicide death toll -- 30 -- from stabbing incidents. In the two years to March 2021, over 150,000 arrests were made following stop and searches, preventing thousands of possible … [Read more...] about UK extends police powers to combat growing crime

Share to Twitter Share to Linkedin Whether you’re a manager at a company with 3,000 employees or three, something that leaders across industries have learned in the past two years is that giving employees more flexibility is key to retention and recruiting of new hires. The pandemic forced the majority (~70%) of the US workforce to adapt in a plethora of different ways to keep everyone healthy while still continuing to work efficiently. Companies that previously had 0% of their employees working remotely had to figure out how to seamlessly transfer all operations to a 100% digital environment. While obviously a ton of bad things came from the pandemic, that’s not to say there weren’t learnings and lessons discovered across the board. The reality is that more talent in every part of the country, and the world, now has access to greater opportunities because of the increased normalization of remote work. Gone are the days where you have to live in San Francisco … [Read more...] about 30 Executives’ Perspectives On Remote, Hybrid, And In-Office Work