Green finance

KUALA LUMPUR: Transition finance or labelled bonds and loans are expected to gain traction in the coming years amid a growing number of companies pledging to reach sustainable goals, Maybank Investment Bank said. Maybank Investment Bank chief executive officer Datuk Fad’l Mohamed said transition finance is a relatively new addition to the suite of sustainable finance instruments to help companies deliver long-term strategies to achieve their net-zero carbon commitments. He said the potential investments that fell under transition bonds as opposed to green bonds are a lot larger as the former includes industries that are not readily green but are taking steps to decarbonise. "So, in this instance, for example, ship company Seaspan Corporation has raised about US$750 million (US$1=RM4.39) in transition bond this year and the proceed were channelled towards exploring energy efficiency of its vessels with alternative fuels,” he said at the Sustainable and Responsible Investment (SRI) … [Read more...] about Maybank IB expects transition finance to gain traction in Malaysia

File image of HDFC Bank HDFC Bank, India’s largest private sector lender, is on an aggressive drive to recover lost ground in the credit card business. On March 11, the Reserve Bank of India lifted a ban imposed on the bank in December 2020, allowing the lender to launch digital products. In an exclusive interview to Moneycontrol on March 16, HDFC Bank’s group head of payments, consumer finance and digital banking, Parag Rao, said the bank has used the interim period to relook at fault areas and revamp strategy. Rao is optimistic the bank can get back lost market share in cards in 2-3 quarters. Rao also spoke about digital initiative plans in FY23 and on forming a digital-only bank. Edited excerpts: Q: The RBI had barred HDFC Bank from issuing credit cards and launching fresh digital initiatives in December 2020. What are the lessons learned? A: We are thankful to the RBI for pointing out some of the areas where we needed to improve. HDFC Bank has consistently … [Read more...] about Exclusive Interview| After RBI green light, HDFC Bank will take 2-3 quarters to regain credit card market share, says Parag Rao

Leading digital solutions platform Globe was recently recognized for its efforts in sustainable building management and energy efficiency and conservation in the 2022 Europa Awards organized by the European Chamber of Commerce of the Philippines (ECCP). The 2022 Europa Awards recognize companies with exceptional performance and contributions to promoting sustainability according to global standards and the Philippine Development Plan. Globe received commendations for their entries in the “Clean and Green Energy” and “Green Building” categories. Employing sustainable solutions for responsible energy consumption In line with the first category, ECCP cited the company for successfully incorporating clean and renewable energy sources in its day-to-day operations, particularly in 14 of its high-energy utilization facilities. The shift of facilities to 100% renewable energy via power purchase agreements started in 2019 and has steadily increased year-on-year, aligned with … [Read more...] about Globe recognized for green solutions, sustainability programs in 2022 Europa Awards

Representative image Non-Banking Financial Companies (NBFCs) have long been waiting for the Reserve Bank of India’s (RBI) green signal to issue credit cards independently, without the need to partner with any banks. Until now, RBI has allowed only two public sector NBFCs to issue credit cards – SBI Cards and BoB Cards. On April 21, the regulator released a Master Direction on credit and debit cards , a document that consolidates instructions on rules and regulations. While previous Master Directions always mentioned NBFCs, this time the regulator has added more details, bringing some hope for institutions, but not without some questions. Also read: Explained: What do RBI’s new directions on issuing credit cards mean? Five key questions answered This becomes more important in the current scenarios where we have fintech startups with NBFC licenses of their own issuing prepaid cards in partnerships with banks. On the other had we have large NBFCs such as Bajaj Finance … [Read more...] about RBI’s new credit card issuance rules: Three key points explained

Electric carmaker Tesla, Inc.'s. ( TSLA ) stock, which surpassed a trillion-dollar valuation this past year, has witnessed a reversal of sorts in 2022 amid a broader market sell-off in tech stocks. Even a stellar earnings report and record profits failed to revive its fortunes, the stock having fallen by more than 11% after the call. However, analysts who issued bullish reports ahead of the company's earnings are predicting a turnaround for Tesla. As of this writing, the stock is trading at $913.99, up roughly 8% from its price at the day's start. Key Takeaways Tesla's descent since the start of this year might be poised for a rebound. Credit Suisse analyst Dan Levy has upgraded Tesla stock to Outperform from Neutral, stating that the pullback in its price creates an "attractive entry point." Tesla reported record profits and earnings in its latest quarterly release. An Attractive Growth Story Dan Levy, analyst at Credit Suisse, upgraded Tesla stock to … [Read more...] about Is Tesla (TSLA) Stock Set for a Turnaround?

This article first appeared in Forum, The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. What would it take to reach net zero? And what kind of economic and social adjustments might be required? - A + A Modernisation has taken Malaysia far, with the per capita GDP growing 46-fold to reach over RM46,000 in 2020 — which now positions the country as having the third highest GDP per capita in Asean. On a societal level, this has correlated in a rise in the average life expectancy from 60 years in 1960 to 76 years in 2020, and a sharp fall in the infant mortality rate from 68 per 1,000 live births to just seven in the same duration. Despite the socioeconomic benefits modernisation brings, it has played a key contributing role to the global issue of climate change, which ironically threatens the quality of life that this progress has achieved. One of the most obvious and visible impacts is the recent spate of floods in 2021, which, according to … [Read more...] about My Say: Managing the net-zero transition

(From left) Vivian, Sultan Nazrin Shah, Lee and Mohd Annuar. Lee appended his posting on Facebook with the photo. - A + A SINGAPORE (June 23): Singapore Prime Minister Lee Hsien Loong said that he looks forward to building stronger ties between the republic and Malaysia, including the state of Perak. He said this in his latest Facebook update on his meeting with Malaysia’s Deputy Yang di-Pertuan Agong and Sultan of Perak Sultan Nazrin Shah. Sultan Nazrin Shah is currently on a four-day visit here beginning from Tuesday (June 21) at the invitation of Lee. “Glad we could meet face-to-face again now that borders have reopened. We discussed regional developments and areas where Singapore and Perak can strengthen cooperation,” Lee wrote. He appended his posting with a photo of him and Sultan Nazrin Shah. Joining them in the meeting were president of the Islamic Religious and Malay Customs Council of Perak Tan Sri Mohd Annuar Zaini and the republic’s Foreign … [Read more...] about PM Lee: Singapore looks forward to building stronger ties with Malaysia

Share to Twitter Share to Linkedin InnovationRx is your weekly digest of healthcare news. To get it in your inbox, subscribe here . A World Health Organization committee will meet on Thursday to discuss the growing global monkeypox outbreak and if it rises to the level of a public health emergency of international concern. This high alert designation from the U.N. body means there is a “serious, sudden, unusual or unexpected” public health risk that crosses international borders. There are currently two ongoing international public health emergencies: the Covid-19 pandemic declared in 2020 and poliovirus declared in 2014. The monkeypox virus, which is characterized by a blister-like rash, is usually found in Western and Central Africa, but the WHO has confirmed more than 2,100 cases and one death across 42 different countries as of June 15. The U.K. has seen the highest number of confirmed cases at 524, followed by Spain with 313 cases and Germany … [Read more...] about InnovationRx: The Next Public Health Emergency?; Plus, Moderna’s Omicron Booster

Khartoum (Reuters) - An accelerated breakdown in services including water and electricity supplies has left Sudanese citizens counting the cost of political stalemate after a military takeover last October. The slide in living conditions comes after the coup triggered the suspension of billions of dollars in international funding, and at a time when the war in Ukraine has pushed the cost of key imports higher. It has fed into anti-military demonstrations held at least once a week for the past eight months, while also adding to pressure for the military and civilian groups to come to a political agreement. No prime minister has been appointed since the coup, ministers are serving in an acting capacity and mediation attempts led by the United Nations and the African Union have yet to produce results. Authorities say they are pressing on with economic reforms that a civilian-led government began under International Monetary Fund (IMF) monitoring in 2020, aimed at reducing … [Read more...] about Sudan’s economy sinks as post-coup leadership searches for support

Malaysia: * Palm oil firm Kulim receives first post-pandemic migrant workers * Pollution shuts Sg Semenyih treatment plant for four hours, water supply not affected * Covid-19: New infection wave may emerge sooner than expected, says KJ * Malaysia's Election Commission gears up for GE15 * Covid-19: Cases on the rise in Sabah, says Masidi * Cradle Fund murder trial: AGC files appeal over verdict * Sabah sea curfew extended to July 9 * Nine Indonesians jailed, fined for illegally possessing gaharu wood Singapore: * Elderly woman lived with dead son for a week in Singapore flat * Two toddlers rescued from fire in Singapore flat; 60 residents evacuated * Singapore begins importing renewable energy from Laos via Thailand, Malaysia * US recession will drag Asia's growth but region may avoid a sharp downturn: analysts * Man in SG charged for possessing S$28,500 in accounts allegedly used to launder scam monies * 18 months' probation for Singapore PR who posted … [Read more...] about Asean News Headlines as at 9pm on Thursday (June 23)