The country's M2, a key gauge of money supply, stood at 3,744.2 trillion won ($2.82 trillion) on average in August, compared with 3,744.1 trillion won a month earlier, according to the preliminary data from the Bank of Korea (BOK). On a year-on-year basis, the money supply grew 6.6 percent. M2 is a measure of the money supply that counts cash, demand deposits and other easily convertible financial instruments. Banks' time deposits jumped 30.5 trillion won over the cited period, boosted by rising interest payments in line with the BOK's rate hikes to combat inflation. On-demand savings, however, shrank 11 trillion won over the same period. Money market funds also declined 10.3 trillion won, the data showed. Yonhap Yonhap … [Read more...] about Money supply slightly up in September amid high interest rates
Share to Twitter Share to Linkedin Today, Canadian lifestyle brand, Herschel Supply , known for its backpacks, is opening its first retail store in the US at 138 Fifth Avenue. Situated in the famed Flatiron neighborhood and close to many beloved brands like Outdoor Voices, Madewell, Allbirds, and Athleta, the new location is a one-of-a-kind experiential concept. At 2,500 square feet, it will showcase both products and a community space to host local events, including a dedicated wall and lounge for artists in their Artist in Residence Program to display their work. With about $60 million in funding, Herschel was founded in 2009 by two Canadian brothers, Jamie and Lyndon Cormack, who named the brand after their family home town of Herschel, Saskatchewan. The brand currently has four stores, all located in Vancouver, Canada, making the NYC store its first in the United States. “There would be no better place to open our first store than at one of our … [Read more...] about Herschel Supply Opens First US Retail Store In New York City
Share to Twitter Share to Linkedin Embark Trucks , an autonomous trucking startup, has just gone public in a SPAC merger valued at about $5 billion (Nasdaq: EMBK) – just as a shortage of truck drivers has emerged as a key contributor to supply chain disruptions. So speaking to Alex Rodrigues , Embark’s founder and CEO, two questions come top of mind: Can autonomous trucks make supply chains more efficient and resilient? Unsurprisingly, he believes they will. But then, if someone today wanted to become a truck driver, what would be his advice? His second answer is more surprising: “They should definitely do it – affirms Rodrigues – we will continue to need more truck drivers for a very long time. Everybody who starts a career as trucker today will be able to retire as a trucker if they want to – and doing a better, easier job than today.” Though Rodrigues has just become one of the youngest CEOs of a US listed company (he is only 26), he has … [Read more...] about Reshaping Supply Chains And The Future Of Transportation: Embark’s Autonomous Trucks
Share to Twitter Share to Linkedin Electricity blackouts have become increasingly common in Ukraine over the last few weeks as Russian missile and drone strikes have focused on the country’s power infrastructure. These attacks on civilian targets were cited by the EU when it branded Russia a state sponsor of terrorism today. But will they be effective — can Russia succeed in driving Ukraine into a new dark age? “Currently, more than 10 million Ukrainians are without electricity,” Ukrainian President Zelensky said on Thursday . The attacks come just as Ukraine receives its first snowfall and cold weather looms. The Russian strategy to destroy the power supply and freeze out the Ukrainian population until they agree to negotiate . In this war though, Ukraine has an unexpected ally: the Soviet Union. The Ukrainian electrical distribution system was set up in the days of the U.S.S.R. and the omnipresent threat of nuclear conflict. The power grid … [Read more...] about Blacking Out: Will Russian Strikes Cut Off Ukraine’s Power Supply?
INQUIRER.net FILE PHOTO MANILA, Philippines — The Department of Agriculture on Wednesday said the supply of sardines in the country remains sufficient, contrary to the claims of ‘shortage’ by big fishing firms. DA, citing data from the Philippine Statistics Authority and the Bureau of Fisheries and Aquatic Resources, said the country will be able to meet the annual demand of 101,367 metric tons (MT) for sardines since it estimated annual production of 293,431 MT of the fish this year. The agency attributed the stable supply to the “effective implementation” of the National Sardine Management Plan. This refers to a five-year plan which harmonizes all the policies and programs on sardines, like the implementation of the closed fishing seasons. “Since its implementation in 2020, a notable improvement in production and supply was recorded,” the DA said in a statement. The agency made the clarification following the call of a group of sardines manufacturers to open up the … [Read more...] about DA: Sardine supply sufficient
INQUIRER FILE PHOTO The country’s stock of raw sugar has declined by more than 20 percent as of end-October, prompting the government to look at using the sugar allocated for exports for local consumption. The latest data from the Sugar Regulatory Administration (SRA)showed that raw sugar stock as of Oct. 30 reached 150,976.75 metric tons, a hefty decline of 26.89 percent from 206,511.77 MT in the same period last year. Local production grew by 38.77 percent to 310,622 MT from 223,839 MT last year, but because imports were lower this year, the resulting buffer stock as of the end of October went down. Demand, on the other hand, rose by 3.44 percent to 248,888 MT from 240,609 MT. This, combined with the reduction in the country’s buffer of raw sugar, prompted the SRA to craft a policy to use sugar originally intended for exports for local consumption to ease the pressure to hike prices. “There is an imperative to ensure stable supply of sugar in the domestic market with the … [Read more...] about Local raw sugar supply down as of end-October
Share to Twitter Share to Linkedin Ukrainian advances in southern Ukraine could lead to, well, further Ukrainian advances in southern Ukraine. To understand why, look at Russian logistics in the region. Specifically, the town of Myrne in Kherson Oblast, 38 miles south of the Dnipro River. Myrne is a critical railway hub for the Russians in Kherson Oblast. It’s now within range of Ukraine’s American-made High-Mobility Artillery Rocket Systems, or HIMARS. Expect rockets to start raining down on Myrne any day now. Why this matters should be obvious. The Ukrainian counteroffensive that has liberated all of Kherson Oblast north of the Dnipro—including Kherson city—didn’t actually begin two months ago when the first Ukrainian brigades attacked. No, it began in May, as the Ukrainians deployed the first of their 20 new wheeled HIMARS and other Western-made artillery systems and began targeting Russian supply lines as far as 40 miles behind the front lines. … [Read more...] about Russia’s Southern Supply Hub Is Now In Range Of Ukraine’s Rockets. Expect Explosions.
Share to Twitter Share to Linkedin The tale of Mahmud Kamani's rags-to-riches rise as one of the U.K.’s biggest fashion successes should be the story of how Boohoo, an upstart brand from Manchester, became a global phenomenon and hoovered up a raft of high street apparel favorites along the way. Instead, the company finds itself nearing the end of 2020 with its share price still around a quarter down on summer peaks – after almost halving at one point - and still busy trying to repair its reputation following worker exploitation and financial scandal revelations within its extended supply chain. And while it works hard to put strong governance in place, the company was on the wrong end of a social media backlash on Black Friday when its youth brand Pretty Little Thing offered a string of deals of up to 99% off full-price, including high-heeled shoes on sale for 34 cents and dresses for 11 cents. Boohoo, which owns Pretty Little Thing alongside brands … [Read more...] about Can Boohoo Make Investors Smile After Supply Chain Scandals And That 11-Cent Dress?
- A + A KUALA LUMPUR (Nov 15): China continued to dominate the global lithium-ion battery supply chain ranking, for the third time in a row, for both 2022 and its projection for 2027, on the back of support for the electric vehicle (EV) demand and raw materials investments. In a report on Nov 12, BloombergNEF’s (BNEF) ranking showed that China currently hosts 75% of all battery cell manufacturing capacity and 90% of anode and electrolyte production. The firm said the increasing prices of lithium has also led to higher investments in carbonate and hydroxide refinery facilities in the country, making it the leading refiner of battery metals globally. Despite this growth, other countries are enforcing policies to create battery demand and secure raw materials needed to support their transition to electric vehicles (EVs). The ranking saw Canada rise to the second spot this year, which reflects its large raw material resources and mining activity, as well as its … [Read more...] about China continues dominating global lithium-ion battery supply chain ranking, says BNEF
Representative Image Oil prices rose by more than $1 on Thursday in response to tighter supplies and on news that China is considering a cut in the duration of quarantine for inbound visitors. Brent crude futures rose $1.33, or 1.4%, to $93.74 a barrel at 1020 GMT. U.S. West Texas Intermediate crude for November delivery, which expires on Thursday, rose $1.43, or 1.7%, to $86.98 per barrel. The WTI contract for December delivery was up 1.8%, or $1.51, at $86.03 a barrel. "Oil prices are extending their ascent at the time of writing amid reports that China is considering cutting Covid quarantine measures for visitors," PVM Oil’s Stephen Brennock said. China, the world’s largest crude importer, has stuck to strict COVID-19 curbs this year, which weighed heavily on business and economic activity, lowering demand for fuel. COVID-19 Vaccine Frequently Asked Questions View more How does a vaccine work? A vaccine works by mimicking a natural infection. … [Read more...] about Oil rises on tight supplies, China possibly easing Covid-19 curbs