Fiscal sustainability

Share to Twitter Share to Linkedin Topline Four key indicators of climate change reached “alarming” record highs in 2021, the United Nations said on Wednesday, as it warned worsening climate change is poised to exact heavy financial losses, impose huge burdens of death and disease and threaten food and water security. Key Facts Greenhouse gas concentrations, sea level rise, ocean heat and ocean acidification—all key climate change indicators—hit record highs in 2021, according to the World Meteorological Organization (WMO) in its annual “State of the Global Climate” report. The report said the last seven years have been the seven warmest on record. WMO Secretary-General Professor Petteri Taalas said it was “just a matter of time before we see another warmest year on record” and warned that sea level rise, ocean heat and ocean acidification will “continue for hundreds of years” unless humanity develops ways to remove carbon from the … [Read more...] about ‘Alarming’ Climate Records In 2021 Prompt UN Call To Triple Renewable Energy Investment To $4 Trillion

Key Takeaways Analysts estimate adjusted EPS of $1.48 vs. $1.69 in Q1 FY 2022. U.S. comparable sales (excluding fuel sales) are expected to rise YOY, but at less than half the pace of the same quarter a year ago. Revenue is expected to barely increase for the second straight quarter as the boost from the pandemic continues to wear off. Walmart Inc. ( WMT ), one of the world's biggest retailers, enjoyed unusually strong earnings and revenue growth during the past two years. The key driver was consumers who changed their buying patterns in several ways during the pandemic. Walmart's e-commerce sales soared as people sheltering at home boosted their shopping online. And consumers also spent more on manufactured goods as they spent less on dining out and traveling. But these pandemic-related forces are beginning to lose momentum. As a result, Walmart's growth has begun to slow sharply. Investors will be watching whether Walmart can reverse its slowdown in growth when … [Read more...] about Walmart Q1 FY2023 Earnings Report Preview

- A + A KUALA LUMPUR (May 18): Sunway Real Estate Investment Trust's (Sunway REIT) net property income (NPI) for the first quarter ended March 31, 2022 (1QFY22) jumped 77.4% year-on-year (y-o-y) to RM118.9 million from RM67.02 million driven by strong pick up in business activities for the retail and hotel segments due to the relaxation in movement restrictions. Earnings per unit rose to 2.96 sen from 0.94 sen a year earlier, Sunway REIT informed Bursa Malaysia on Wednesday (May 18). Quarterly revenue grew 47.67% to RM153.97 million from RM104.27 million underpinned by higher revenue from all segments. Gross revenue for the retail segment soared 83.5% to RM98.4 million from RM53.7 million a year ago, primarily contributed by strong performance from all retail malls on the back of pent-up demand, festive spending, relaxation of Covid-19 safety measures and marginal rental support. The hotel segment’s gross revenue increased 28.6% y-o-y to RM18.5 million compared … [Read more...] about Sunway REIT’s 1Q net property income jumps 77% on strong pick up in business activities

- A + A (May 18): A welcome revival in travel and cargo demand helped Singapore Airlines Ltd narrow losses in the second half of the fiscal year through March, though the high price of oil weighed on the carrier, its annual results showed. The airline’s net loss in the October-March period was S$125 million (US$90 million), it said in a statement Wednesday, compared with a loss of S$804 million a year earlier. Sales more than doubled in the six-month period to S$4.79 billion. Singapore started unraveling tight Covid-19 travel restrictions in September, allowing fully-vaccinated people from certain countries to enter without having to quarantine — a boost to the flag carrier, which had suffered record losses in the height of the pandemic. With Singapore further loosening curbs in April, quarantine-free entry is available for inoculated travelers from anywhere. “Key markets around the world have further eased travel restrictions, supporting a strong recovery in … [Read more...] about Singapore Airlines’ second-half loss narrows as travel picks up

This digital 3D image provided by Guatemala’s Mayan Heritage and Nature Foundation, PACUNAM, shows a depiction of the Mayan archaeological site at Tikal in Guatemala created using LiDAR aerial mapping technology. Researchers announced Thursday, Feb. 1, 2018, that using a high-tech aerial mapping technique they have found tens of thousands of previously undetected Mayan houses, buildings, defense works and roads in the dense jungle of Guatemala’s Peten region, suggesting that millions more people lived there than previously thought. (Photo by CANUTO and AULD-THOMAS / PACUNAM via AP) GUATEMALA CITY — Researchers using a high-tech aerial mapping technique have found tens of thousands of previously undetected Mayan houses, buildings, defense works and pyramids in the dense jungle of Guatemala’s Peten region, suggesting that millions more people lived there than previously thought. The discoveries, which included industrial-sized agricultural fields and irrigation canals, were … [Read more...] about Scientists find massive Mayan society under Guatemala jungle

“Magic 12” in the May 2022 senatorial polls. INQUIRER graphics MANILA, Philippines — Twelve newly-elected senators – a mix of neophytes, returning, and reelectionists – would be entering the Senate halls by June 30. Their vows were to fulfill their campaign promises as they call on the people to band together following one of the country’s most polarizing elections in recent history. All twelve winning senatorial bets were present at the Philippine International Convention Center in Pasay City. The senators-elect were joined by their families as commissioners of the Commission on Elections (Comelec) raised their hands, marking their win in the senatorial race official. Fulfilling campaign promises, pushing advocacy The first one proclaimed was returning senator Jinggoy Estrada who placed 12th in the elections after garnering over 15.1 million votes. He said he would fulfill his campaign promise of restoring lost jobs to Filipinos. “Asahan ninyo, sa loob ng anim na taon, … [Read more...] about Proclaimed senators vow to fulfill campaign promises, call for unity

Ronojoy Dutta (left) will step down by Sept 30; Pieter Elbers (right) will succeed him Ronojoy Dutta, the chief executive officer of IndiGo, will retire in September, the private carrier announced on May 18, further stating that Pieter Elbers has been finalised as his successor. Dutta, 71, was appointed at the helm of IndiGo in January 2019. He has "decided to retire on September 30, 2022", after guiding IndiGo "through the turbulent Covid period", said a statement issued by the airline. The board of directors of InterGlobe Aviation Limited, the carrier's parent firm, have "appointed Pieter Elbers as the next chief executive officer, subject to regulatory approvals", it added. Elbers, who has served as the chief executive of KLM Royal Dutch Airlines, will join IndiGo "on or before October 1, 2022", the statement noted. Dutta, while commenting on his decision to step down, said IndiGo is in the "good custody of Mr Elbers" and that the future for IndiGo employees is … [Read more...] about IndiGo CEO Ronojoy Dutta to retire in September, Pieter Elbers named successor

Maya Sree operating a drone Maya Sree, who goes by only one name, left her hometown in 2018, when she decided to live her life as a transwoman. Her parents did not accept her the way she was, or the jobs that she had taken up earlier to support herself. “But when my parents came to know that I was working for Dhaksha in Anna University campus, I received a call from my family, and they spoke to me, and told me that they were very proud of me. Personally, it’s not just a job for me but a new life,” Maya Sree, a Directorate General of Civil Aviation (DGCA)-certified drone pilot of the Chennai-based Dhaksha Unmanned Systems (DUMS) told Moneycontrol. Maya Sree, along with course mates Pragya, Sai and Rahmatullah, are the first from the transgender community in India to be appointed as drone pilots. They underwent intensive training before being absorbed by the company which operates drones with applications in surveillance, agriculture and defence. For them, this job at DUMS gives … [Read more...] about For four from trans community, drone pilot jobs give the wind beneath their wings

For one small Ukrainian company, conflict has become a key mile marker. Fashion editors Kate Zubarieva, 33, and Asya Varetsa, 31, conceived of the idea for their fashion label, Sleeper , during the 2014 Revolution of Dignity--a five-day clash between protesters and the Ukrainian government in Ukraine's capital, Kyiv, which eventually led to the ousting of the country's president, Viktor Yanukovych. Then, in February 2022, after Russia invaded the country , the Ukrainian company rapidly laid down manufacturing roots in another country. As Russia began planning a military offensive against Ukraine in December 2021, the Sleeper team began to prepare for the worst, and the founders knew they had to make a series of tough decisions. In about two to three weeks, the apparel company helped relocate 30 employees abroad and 40 to more western regions of Ukraine. It also transitioned its production to Turkey. "We knew we had a good amount of savings to sustain the … [Read more...] about No One at the Ukrainian Fashion Brand Thought Russia Would Really Invade, But They’re Glad They Planned for It Anyway

Graphics chipmaker NVIDIA Corporation ( NVDA ) has agreed to pay $5.5 million to settle charges leveled by the Securities and Exchange Commission (SEC) that it failed to adequately inform investors about the demand cryptocurrency miners had placed on its graphics cards. Crypto mining involves obtaining rewards earned in cryptocurrency for verifying transactions on distributed blockchain ledgers. Key Takeaways NVIDIA has agreed to pay $5.5 million for failing to adequately inform investors about the demand cryptocurrency miners had placed on its graphics cards. The SEC claimed NVIDIA failed to report that crypto mining had generated significant revenue growth in two consecutive quarters during its 2018 fiscal year. In March 2021, NVIDIA released a new series of semiconductors called Cryptocurrency Mining Processor (CMP), specifically designed for mining Ether. Demand for the company's CMP hardware has slumped in line with sharp falls in cryptocurrency prices. … [Read more...] about NVIDIA (NVDA) Fined $5.5M for Failing to Disclose Crypto Mining Impact