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File photo of Ray Dalio, founder of Bridgewater Associates. Ray Dalio, billionaire investor and founder of Bridgewater Associates, released his inaugural Country Power Score Index, which, in his own words, analyses “what makes countries healthy and unhealthy, and how policymakers’ decisions impact the trajectories of their countries.” The list places the US on top in a state of gradual decline, while China is No. 2 in rapid ascent. India is ranked 7th in ascent. In tweets posted on May 25, Dalio said the report comes from his 50-year experience as a global macro-investor and added that he “likes to quantitatively measure” impact to help build systems for better decision-making. The power score index shows the levels of 18 types of strengths and combines them into an aggregate measure of power for the top 24 countries. Besides current placements, the index can be used as a “good leading indicator of future conditions” and “serve as a guide for policymakers to produce … [Read more...] about Ray Dalio’s Power Score Index: US, China on top, India at 7

- A + A KUALA LUMPUR (May 26): There is potential for Malaysia to achieve or even exceed its long-term renewable energy (RE) target helped by a stronger push for energy transition from energy users, said Tenaga Nasional Bhd (TNB). This, TNB noted, includes its plan to raise the group’s global RE capacity to 8.3 gigawatt (GW) by 2025 from 3.4GW at end-2021, and Malaysia’s RE generation of 18GW by 2035 from 8.45GW currently. “In the past few years, the push for energy transition has become much stronger. As we look at plans coming up for the nation and TNB, it will be interesting to perhaps even see some of the plans [move] forward faster,” said TNB sustainability pathway project director Dr Noor Miza Razali. Speaking at a Thursday (May 26) briefing on TNB’s sustainability pathway, Dr Noor Miza explained that the RE generation mix could be further enabled due to declining cost of operations compared to volatile prices of traditional fuel sources like coal. “Having … [Read more...] about Malaysia could potentially accelerate renewable energy goals, says TNB

- 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

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?

Aiming to address water scarcity in various parts of India, Israel-based Watergen, which developed technology that generates drinking water from the air, announced its strategic joint venture with SMV Jaipuria Group to bring its global patented technology to India. The company said it will do a 100 percent transfer of technology from Israel to India for manufacturing the products in India and exporting it abroad. "India will be the main marketing hub for global activities for Watergen. We will export from India to the global market. India is amongst our top three strategic markets and together with our partner, we are determined to provide safe mineralised drinking water available for every individual, across geographies and demographics," Maayan Mulla, CEO of Watergen India, told Moneycontrol. According to Mulla, both companies would introduce their Atmospheric Water Generator (AWG) product categories in India, which creates high quality, mineralised, safe drinking water out … [Read more...] about Israel’s Watergen, SMV Jaipuria Group partner to manufacture air-to-water products in India

- A + A (May 26): Russia’s central bank delivered its third interest-rate reduction in just over a month and said borrowing costs can fall further still, as it looks to stem a rally in the ruble and unwinds the financial defenses in place since the invasion of Ukraine. The Bank of Russia lowered its benchmark to 11% from 14% on Thursday at an extraordinary meeting it announced only a day earlier. All 23 economists surveyed by Bloomberg predicted a reduction, with most forecasting a cut of two percentage points. The central bank said it “holds open the prospect of a key rate reduction at its upcoming meetings.” In a statement accompanying the decision, policy makers made little mention of the ruble beyond noting the exchange rate contributed to slower inflation. “External conditions for the Russian economy are still challenging, considerably constraining economic activity,” they said. “Financial stability risks decreased somewhat, enabling a relaxation of some … [Read more...] about Russia cuts rates again and takes aim at ruble’s rebound

A banker watches news on the Russia-Ukraine war at a bank in central Seoul on March 31. [YONHAP] Foreign investors net sold more than 7 trillion won ($5.6 billion) of Korean stocks in the first quarter. LG Energy Solution, with its record-setting initial public offering that went public in January, was the most sold stock by foreign investors in January through March. As the market continues to stay sluggish this year, analysts have lowered their projections on the Kospi in an indication that it may be difficult for the benchmark index to once again reach 3,000 points within the year. Foreign investors net sold 7.57 trillion won Korean stocks in the first quarter. They net sold 5.5 trillion won Kospi stocks, and 1.8 trillion won of secondary Kosdaq stocks. The total market capitalization for Kospi stocks owned by foreign investors was down to 31.61 percent as of last month, the lowest since 31.54 percent recorded in January 2016. They net sold 2.95 trillion won of battery … [Read more...] about Foreign investors offload over 7 trillion won of Korean stocks in Q1

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

Samsung, the world's largest memory chip maker, expanded its market share in the January-March period due largely to a fall in shipment by Japanese chipmaker Kioxia, following contamination incidents at its facilities, industry tracker TrendForce said. NAND flash is a type of non-volatile storage that does not require power to store data. In the first quarter, Samsung's NAND flash sales rose 3.4 percent to $6.32 billion and its market share went up by 2.2 percentage points to 35.3 percent from the previous quarter. That is in comparison to the 3.0 percent quarterly decline in the global sales, which totaled at $17.9 billion. Samsung's growth in sales was driven by sluggish supply from Japan's Kioxia and San Jose-based Western Digital, an influx of rush orders and solid state drive (SSD) orders from North American corporate clients, TrendForce said. SK hynix and its U.S. subsidiary Solidigm, combined, rose to the third spot with an 18 percent market share. SK hynix set up … [Read more...] about Korean NAND flash suppliers account for majority in global market in Q1: Report

Billionaire brothers John and Patrick Collison built Stripe into one of the world’s most-hyped, highest valued — and profitable! — startups, worth some $95 billion. Now they must stave off going from disruptor to disrupted. I t’s just before five o’clock, and Stripe Cofounder John Collison is preparing to address his hundreds of Ireland-based employees on the top floor of his headquarters in Dublin’s “Silicon Docks” District. Such regular Friday town halls, which are also simulcast to New York, San Francisco, Singapore and anywhere else its 7,000 employees want to tune in from over Zoom, are an almost sacred tradition at Stripe, the payments company that Collison cofounded with big brother Patrick in 2010. With Patrick away getting married, it’s up to John, 31 and with a dusting of gray hair now topping his boyish face, to field questions. It could get contentious: There’s a social media “kerfuffle” playing out over Twitter this week: Stripe has been accused in a … [Read more...] about The Collison Brothers Built Stripe Into A $95 Billion Unicorn With Eye-Popping Financials. Inside Their Plan To Stay On Top