Norways plans to raise carbon tax draw oil industry ire

Share to Twitter Share to Linkedin Instead of sticking to Oslo, Stockholm or Helsinki, consider exploring town by town for a fuller, more authentic Nordic experience. Norway’s Sunnmøre district is a perfect place to start; located on the country’s west coast, the area boasts a number of stunning fjords, all within a few miles of one another. Scandinavian landscapes, culture and unique history put this region at the top of any traveler’s bucket list. The Sunnmøre Alps are known for scenic hikes, while roadside villages preserve tradition and welcome visitors to eateries, shops and intimate museums. As the unofficial capital of the district, the seaside town of Ålesund is worth spending a few days in; this “Art Nouveau” center is full of curiosities surrounding its reconstruction after a devastating fire in 1904. Ålesund will satisfy any history or architecture buff, while nature lovers will enjoy the opportunity to explore Sunnmøre via sparkling waterways, wooded … [Read more...] about Ålesund And Sunnmøre: Norway’s Adventure Capital Of The Fjords

LONDON: OPEC+ enters a second and final day of meetings on Thursday with sources saying the group is unlikely to decide imminently to pump more barrels to the market beyond August. At its last gathering in early June, OPEC+ decided to raise output each month by 648,000 barrels per day (bpd) in July and August, compared with a previous plan to add 432,000 bpd over three months. OPEC+ consists of the Organization of the Petroleum Exporting Countries and allies such as Russia. Washington welcomed the producers' decision in June that followed months of pressure from the West on OPEC+ to raise production to help lower oil prices. International prices hit their highest since the record levels of 2008 after the West imposed sanctions on Russia over its invasion of Ukraine begun on Feb. 24, which Moscow calls "a special military operation". They have eased since this year's March peaks, but rose above $115 a barrel this week because of tight supply and concern OPEC has little ability … [Read more...] about Opec+ meets with little prospect of pumping more oil

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A ALL eyes are on RHB Banking Group’s newly minted group managing director (MD) and group CEO Mohd Rashid Mohamad as he steers the fourth-largest banking group by assets forward in a tough operating landscape. “It’s very challenging, especially now in a fast-changing market environment, and as we face potential risks such as geopolitical and inflationary,” acknowledges Rashid in his first exclusive interview as group MD/CEO. Competition has intensified, given new entrants into the market, which are not just new banks but also technology companies that compete for the same pie. Rashid adds that this has partly affected the profitability of the industry, along with many other factors. He notes that banks globally no longer see “high ROEs” as before. For RHB Bank Bhd, its return on equity (ROE) in the past 10 financial years hit a high of 13.4% in FY2012 before … [Read more...] about Cover Story: RHB’s Game Plan in ‘fast-changing’ new normal

FILE PHOTO: A fish vendor at Commonwealth Market in Quezon City weighs locally sourced “galunggong” or round scad as she waits for customers on Wednesday, August 22, 2018.  INQUIRER/GRIG C. MONTEGRANDE MANILA, Philippines — Senator Manny Pacquiao on Thursday expressed disbelief over the Department of Agriculture’s (DA) announcement that it would import 60,000 metric tons (MT) of pelagic fish, raising questions as to how a country surrounded by large bodies of water can have a shortage in its fish supply. According to Pacquiao, the admission of DA Secretary William Dar that the country is experiencing fish shortage is a manifestation of the government’s inability to manage and optimize the country’s rich aquatic resource properly. “This is unbelievable. Saan ka naman nakakita ng bansang napapaligiran ng mga dagat pero nag-iimport ng mga produktong galing sa dagat? Sobrang kawawa na nga ang ating mga magsasaka dahil sa pagpasok ng napakaraming imported at smuggled na mga bigas … [Read more...] about ‘Unbelievable!’ Pacquiao hits DA’s plan to import 60,000 MT of fish

Fifteen years ago, Eric Ryan and Adam Lowry launched Method , an eco-friendly cleaning products company that emphasized beautiful packaging as much as sparkling sinks. In 2012, the business was acquired by Belgium-based Ecover. Ryan stayed on. Today, Ryan is introducing Olly , which applies the same design-centric approach to vitamins that Method did to soap. Olly ' s products come in gummy form and are named for benefits like Calm, Immunity, Sleep, and Beauty. For now they are available exclusively through Target. Ryan, whose Olly co-founder is marketing veteran Brad Harrington, spoke with Inc. about his sophomore venture. Where does the name Olly come from? Everybody in the category seemed to fall into two camps. Scientific-but-cold-sounding names like Centrum. Or folksy nature names: Nature ' s Garden or Nature ' s Bounty. We want our brand to be accessible, friendly, and simple. We thought, when you walk into a pharmacy, what ' s the name of the … [Read more...] about Making Vitamins, People, and Gross Margins Beautiful

- A + A KUALA LUMPUR (June 30): The Securities Commission Malaysia (SC) has launched a new sukuk framework to facilitate fundraising by companies in addressing sustainability concerns such as climate change or social agenda, with features that relate to the issuer’s sustainability performance commitments. The Sustainable and Responsible Investment (SRI)-linked Sukuk Framework is an extension of the initiatives under the SRI road map that was introduced in 2019 to broaden SRI product offerings, the SC said in a statement on Thursday (June 30). "More significantly, this initiative reflects the SC’s commitment to expanding the reach of the Islamic capital market (ICM) to the broader stakeholders of the economy and building an enabling ICM ecosystem for the sustainability agenda," added the regulatory agency. The SC said high-emitting industries are at high risk of being phased out with the accelerated shift towards developing a climate-resilient future. The … [Read more...] about SC launches new sukuk framework to facilitate companies’ transition to net zero

KUALA LUMPUR: The Securities Commission (SC) has launched the sustainable and responsible investment-linked (SRI-linked) Sukuk Framework to facilitate fundraising by companies in addressing sustainability concerns. The regulator said with the accelerated shift towards developing a climate-resilient future, high-emitting industries are at a high risk of being phased out. “The SRI-linked sukuk will enable companies in these as well as other industries to transition into a low-carbon or net zero economy. “As at Dec 31, 2021, the global sustainable bonds outstanding exceeded US$1 trillion with sustainability-linked bonds making up US$118.8bil,” it said in a statement. It added that the framework was an extension of the initiatives under the SRI Roadmap that was introduced in 2019 to broaden SRI products offerings. More significantly, this initiative reflects the SC’s commitment to expand the reach of the Islamic Capital Market (ICM) to the broader stakeholders of the economy and … [Read more...] about SC launches SRI-linked Sukuk Framework

- A + A (June 30): Incoming Philippine President Ferdinand Marcos Jr, son of the nation’s ousted dictator, said he will focus on food sufficiency and Covid-19 pandemic recovery in an inaugural speech that paid tribute to his late father. “The role of agriculture cries for urgent attention,” Marcos said in Manila on Thursday (June 30) after taking his oath of office. “An agriculture damaged and diminished by unfair competition will have a harder time, or will have no prospects at all of recovery.” The new leader, who’s appointed himself the agriculture chief, said he would rebuild the nation’s economy to regain its position as a growth leader in the region. He pledged to fix shortcomings in pandemic response, and come up with plans to transform the economy and boost infrastructure. The former senator returns to the presidential palace where he spent his youth before his family fled in 1986, driven out by a popular uprising. His father’s two-decade rule was marred by … [Read more...] about Marcos Jr sworn in as president decades after father fled

- A + A (June 30): It was an unusually frigid December weekend when Cheng Wei summoned his inner circle to his Beijing office. The founder of Didi Global Inc, dressed entirely in black, told his lieutenants to slash spending by a fifth in 2022 and begin layoffs after staff return from Lunar New Year vacations. He delivered his bombshell flanked by a giant Powerpoint slide that read: “Don’t live with illusions. Face reality.” “We had a tough year,” said the reserved billionaire known as Will, who that day seemed even gloomier than normal, according to people briefed on the gathering. “But next year will be even tougher.” That sombre gathering encapsulated what many in the room already suspected — the ride-hailing champion once feted for running Uber Technologies Inc out of China was no more. In its place was a defeated shell worth a fifth of its value at the peak, bleeding users, blocked from raising funds for cherished projects — and whose executives were constantly … [Read more...] about Inside Didi’s US$60b crash that changed China tech forever

In May, the employee was paid Rs 1.42 crore (165,398,851 Chilean pesos) instead of his salary of Rs 43,000 (500,000 pesos). (Representative Image) The rupee touched a record low, sliding near 79 to a dollar, on June 29 as foreign investors continued selling local equities and crude oil prices rose. Experts say the sharp fall of the rupee can be attributed to the strength of the greenback and lower forward premiums, among others. Moneycontrol explains the reasons for the rupee’s depreciation. How much did the rupee depreciate? The rupee opened at 78.85 per dollar and slid to 78.95, an all-time high, during intra-day trade on Wednesday. On a weekly basis, the currency has depreciated 1.2 percent. Close Why is the rupee in a free fall? Central banks led by the US Federal Reserve tightening interest rates globally, increases in crude oil and commodity prices, lower forward premiums and weakening forex reserves are some of the reasons experts cite for … [Read more...] about MC Explains | Will RBI let the rupee adjust to new lows?