- A + A BENGALURU (May 26): Most emerging market stocks in Asia eked out gains on Thursday (May 26) on signs that the US Federal Reserve (Fed) could pause policy tightening later in the year, while regional currencies took a hit from concerns over slowing growth in China. Shares in Singapore led the region's markets higher with a gain of 0.8%, while stocks in Taiwan and India lost 0.8% and 0.6% respectively, and were the biggest losers. Minutes from the Fed's meeting this month showed the faith that the policymakers had in the strength of the US economy, helping lift the mood on Wall Street overnight. But the sentiment was more cautious in Asia which faces risks of capital outflows due to interest rate hikes by global central banks to tame decades-high inflation. The region's currencies were broadly lower, with the Chinese yuan weakening the most with a 0.7% slide as investors digested comments from Chinese Premier Li Keqiang's in a rare nationwide meeting. … [Read more...] about Most Asian stocks rise after Fed minutes; China growth woes hit currencies
Dow hits record high
Kerjaya Prospek 1Q net profit grows 9.4% to RM28.86m on record quarterly revenue, declares two sen dividend
- A + A KUALA LUMPUR (May 26): Kerjaya Prospek Group Bhd's net profit for the first quarter ended March 31, 2022 (1QFY22) increased by 9.38% to RM28.86 million from RM26.39 million, on the back of higher revenue. Earnings per share rose to 2.33 sen from 2.13 sen. In a Bursa Malaysia filing on Thursday (May 26), the group also announced its highest quarterly revenue ever after it increased by 11.88% to RM300.59 million from RM268.67 million a year earlier, underpinned by progress in construction work activities. The group also declared an interim dividend of two sen per share, to be paid on July 8. On a quarterly basis, the group's net profit declined by 5.04% from RM30.39 million reported for the immediate preceding quarter while revenue came in higher by 5.95% from RM283.72 million. Commenting on the results in a statement, Kerjaya Prospek's chief executive officer and executive director Tee Eng Tiong said: "This new high speaks volume of our strong track … [Read more...] about Kerjaya Prospek 1Q net profit grows 9.4% to RM28.86m on record quarterly revenue, declares two sen dividend
Bank of Korea ups rates a quarter point citing high inflation
Bank of Korea Governor Rhee Chang-yong, center, at the monetary policy board meeting held in central Seoul on Thursday. [BOK] The Bank of Korea raised the base interest rate by 0.25 percentage points to 1.75 percent on Thursday. It was a unanimous decision by the monetary policy board and came in the context of fast rising consumer prices. "Inflation was higher than we had expected," Bank of Korea Gov. Rhee Chang-yong said during a press conference held in central Seoul on Thursday. The increase, which was widely expected, is the second consecutive rate rise and the fifth in the current round of monetary tightening, which began in August last year. At the previous board meeting, in April, rates were also upped 25 basis points and the decision was also unanimous. "The board will guide monetary policies focused on inflation for the time being," the governor said, adding that inflation may top 5 percent in May. At a press conference held last month, Rhee said that he is more … [Read more...] about Bank of Korea ups rates a quarter point citing high inflation
The Science Of Fire Weather And Using It To Predict Wildfires
Share to Twitter Share to Linkedin With fires continuing to ravage the West Coast , Hurricane Sally making landfall with large scale flooding, and several other tropical storms developing, there are several extreme weather events to discuss this week. I’m going to focus on the fires in California, Oregon and Washington because the threat of massive wildfires, both in frequency and intensity, is rising worldwide. The science of weather, and the application of fire weather forecasting, plays a big role in helping cities, wildfire management and the public prepare and possibly reduce the risk of wildfires. So, what is fire weather? To explain we start with the fire triangle. All fires need three things —fuel, oxygen, and heat—to ignite and be sustained. Weather can influence each of these factors, which is why it is called fire weather. Air temperature contributes to wild fires as a heat source. Building materials and vegetation ignite faster and burn … [Read more...] about The Science Of Fire Weather And Using It To Predict Wildfires
Why did Tesla drop its EV plans in India?
Representative image The constant tug-of-war between the Indian government and Elon Musk appears to have finally ended, although it’s hard to determine who here has lost the battle. Earlier today, a report by Reuters stated that Elon Musk has decided to put his Tesla India plans on hold after a prolonged stalemate with the government, which didn’t give in to his demands for reduced tariffs. The news has cast a dark shadow on the prospects of foreign EV brands setting-up shop in India, with Tesla having been the most anticipated player to enter the Indian EV market. While Musk himself hasn’t commented on the matter, Tesla’s exhortations for lower import duties on cars over the $40,000 bracket are a matter of public record. The brand had earmarked February 1st of this year to make a decision based on the annual budgetary hearing. Given that its demands for concessions went unheeded, the brand reassigned those involved with its India operations to other tasks as Tesla continues … [Read more...] about Why did Tesla drop its EV plans in India?
Bigger food crisis can be averted If Asia remembers not to panic
- A + A (May 26): The world’s food problem is already severe as prices jump and protectionism flares but there’s a good chance governments can stop it from getting way worse if they heed a lesson from the crisis in 2008 — don’t panic. With a gauge of global prices already at a record following Russia’s invasion of Ukraine, a spate of nations have moved to curb exports in crops from wheat and sugar to cooking oils, exacerbating security risks for the rest of the world. Bad weather is a concern, too. Still, while wheat, corn and soy have soared, rice, a staple for more than three billion people, has so far been more stable. If nations do not panic or start hoarding, they can stop the current crisis from becoming a rerun of the one in 2008, when rice prices soared to put the region’s food security at serious risk, according to Harvard University Professor Emeritus Peter Timmer, who’s studied food security for decades. “The 2008 lesson is: Do not spook the market,” … [Read more...] about Bigger food crisis can be averted If Asia remembers not to panic
NASA’s Orion Spacecraft Passes ‘Magnificent’ Launch Test Ahead Of Possible Moon Mission In 2020
Share to Twitter Share to Linkedin The test took place early this morning. NASA TV NASA has successfully performed a launch abort test of its Orion crew capsule, designed to one day take humans to the Moon. At 7 A.M. Eastern Time today, July 2, Orion lifted off from NASA’s Kennedy Space Center (KSC) at Cape Canaveral in Florida, flying into the sky before returning to Earth. Called the Ascent Abort-2 (a previous test occurred in 2010), the test is a crucial step towards certifying the capsule safe to launch humans. “Everything looked really good,” said Mark Kirasich, the Orion Programme Manager, in a live stream for the launch. “By all accounts it was magnificent.” This test, costing $256 million , was designed to check if the Orion capsule could safely escape from the rocket it launches on, expected to be the delayed and over-budget Space Launch System (SLS), in the event of an emergency. The Launch Abort System (LAS) on the capsule … [Read more...] about NASA’s Orion Spacecraft Passes ‘Magnificent’ Launch Test Ahead Of Possible Moon Mission In 2020
The iPod and my musical education
Without the iPod, we may have never known the iPhone. And yet, it was the iPhone that absorbed the iPod whole and relegated it to the category of tech you would maybe only want, never again strictly need. (Representational image: Insung Yoon via Unsplash) Back in 2006, I was given my first iPod: The first-gen iPod Nano. It was my father’s gentle way of creating a diversion from my blinkers-on desire for a Moto Razr that all us college kids were hopelessly infatuated with. And it worked. Like millions, the iPod was my first brush with an Apple device - this was the third iteration of the iPod, after iPod Classic and the iPod Mini - and I was instantly enamoured. Unboxing was not a thing back then, nor was ASMR – but ripping that plastic off this black box was deeply satisfying. The click wheel! The tiny colour display! The possibility of carrying 500 songs (mine was the budget 2GB version) and photos everywhere! All in a device so slim and tiny it fits into that little pocket … [Read more...] about The iPod and my musical education
The Good Girls: Sonia Faleiro’s chilling chronicle of the 2014 hanging of two teens in Uttar Pradesh
London-based author Sonia Faleiro’s latest book The Good Girls: An Ordinary Killing (Penguin Hamish Hamilton, ₹599) is the tragic, real-life story of two village girls, who, in the summer of 2014, were found hanging from a tree in the Katra Sadatganj village in the Badaun district of western Uttar Pradesh. After several conflicting eyewitness interrogations, post-mortem examinations and CBI inquiries, the authorities concluded that the girls had taken their own lives—they were afraid that being found with a boy would bring dishonour to them and their families. Several people questioned this verdict. Padma (16) and Lalli (14)—whose names have been changed in accordance with Indian law—were inseparable. Cousins and best friends, “people called them Padma Lalli, like they were one person.” One evening, the girls were given permission to attend a village fair—presumably the best day of their lives—after which they returned home. When they went to relieve themselves in the … [Read more...] about The Good Girls: Sonia Faleiro’s chilling chronicle of the 2014 hanging of two teens in Uttar Pradesh
Petronas: Decarbonising fossil fuel the way to go
This article first appeared in The Edge Malaysia Weekly, on May 16, 2022 - May 22, 2022. - A + A OVER the years, there has been much debate on whether low-carbon solutions such as carbon capture technology are relevant in the light of renewable energy adoption and the energy transition. The recent energy crunch, which saw oil and gas prices skyrocket amid high demand, and pushed some countries to even revisit coal for power generation, has proved that fossil fuel use cannot be avoided in the near term. This means it is even more pertinent to explore technologies that allow carbon reduction and offset during the energy transition, says Petroliam Nasional Bhd (Petronas) vice-president and chief sustainability officer Charlotte Wolff-Bye. “In this current sort of crisis in the energy sector, I believe that the energy transition can’t be delivered without the oil and gas industry. We actually need to decarbonise existing energy systems and continue … [Read more...] about Petronas: Decarbonising fossil fuel the way to go