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- A + A (May 16): The rupiah risks weakening to its lowest level in almost two years as Indonesia’s ban on palm oil exports adds to headwinds from interest rate hikes in the US. The currency fell to a one-year low last week, despite an assurance from the central bank that it would stabilize the currency. Technical support at its April 2021 low is now in danger and a breach of this level would pave the way for a decline to its September 2020 low. Investors are watching for further export restrictions and rising demand for the dollar, said Divya Devesh, head of Asean and South-Asia FX research at Standard Chartered Bank in Singapore. He sees the rupiah depreciating to 14,800 to the greenback by the end of June, from 14,613 on Friday. Palm oil accounted for 1.5% of Indonesia’s gross domestic product in 2021 and the prohibition on shipments could cut US$2 billion from the nation’s exports for each month it stays in place, according to estimates from Goldman Sachs … [Read more...] about Rupiah nears breach of support with palm oil ban hurting trade

- A + A (May 16): As spiraling inflation spreads across the globe, emerging-market bonds from Turkey to Thailand are feeling the brunt. Local-currency debt from developing nations -- which is far more sensitive to a country’s domestic inflationary pressures than dollar denominated equivalents — has slumped almost 9% this year, the most since at least 2008, according to a Bloomberg index. There’s unlikely to be any relief soon as central bankers around the world attempt to control surging prices by raising interest rates even more aggressively — potentially risking growth in doing so. That certainly wasn’t the plan. Many developing economies led the charge in rate hikes last year, getting ahead of policy makers in the US and hoping to avoid a redux of the 2013 taper tantrum. But with inflation raging in the US and the strong dollar pressuring currencies elsewhere, these countries are now making a new rulebook. Policy makers across emerging nations are either … [Read more...] about Bond traders reel as inflation hits world’s emerging local debt

Share to Twitter Share to Linkedin Monkeypox is not the type of thing that you see every day. Or even every year for that matter. It’s a very rare viral infection that can spread from person-to-person via close contact and could result in severe illness, even death. That’s why someone recently being diagnosed with monkeypox in England has prompted the U.K. Health Security Agency (UKHSA) to issue an announcement on Saturday . And the UKHSA tends to reserve such announcements for significant news that the general public needs to know rather than things like, “Person has pimple, can’t go to prom.” So before you try to use, “sorry I have monkeypox,” as an excuse to get out of work or a date, keep in mind that others may then call the public health authorities to get you placed in isolation. The infected person is indeed currently under isolation and receiving treatment at the expert infectious disease unit at the Guy’s and St Thomas’ National Health Services … [Read more...] about Monkeypox Case Confirmed In United Kingdom, Here’s What This Rare Infection Can Do

Share to Twitter Share to Linkedin Las Vegas is back in full force. Mask mandates have been lifted and the destination is busier than ever. For those who are headed out to Sin City in the coming months, there are plenty of new spots to check out. From swanky supper clubs to a lounge inspired by Paris, there’s no shortage of options when it comes to food and drinks. There’s even a unique Cirque du Soleil show, plus many other activities for some family-friendly fun. And if you have a go-to hotel on the Strip, you may just be surprised with some recently renovated accommodations at one of your favorite properties. Below, a full look at what’s new in Las Vegas for this summer. Restaurants Delilah While Delilah opened mid-July of last year, this is one spot you can’t miss if you weren’t able to make it this past summer. The restaurant is a modern take on a supper club, but done so in a way that still recalls the 1950s. Guests descend an imperial staircase … [Read more...] about Here’s What’s New In Las Vegas For Summer 2022

File Image. Prime Minister Narendra Modi with Mauritius Prime Minister Pravind Kumar Jugnauth during a meeting, in New Delhi, Friday, December 6, 2019. (PIB/ PTI Photo) After being the largest source of foreign direct investment (FDI) for India since economic liberalisation in 1991, Mauritius is looking to attract investments from Indian businesses as it attempts to shed the image of being a tax haven. The Indian Ocean island nation also wants to reduce its reliance on China as a development partner and mend a tourism-dependent economy hurt by the global travel shutdown in the aftermath of the pandemic. Mauritius Prime Minister Pravind Jugnauth, in India on an eight-day trip, is scheduled to meet with business leaders in Lucknow and other cities. He has already met the Chief Ministers of Gujarat and Uttar Pradesh, seeking both bilateral partnerships as well as support to push Mauritius as an investment destination in these states, multiple sources in the know said. During … [Read more...] about ​Exclusive| Mauritius seeks Indian investments amid major bid to shed tax-haven image

left  The Thai women's team celebrate winning the 4x100m title in Hanoi yesterday.  reuters NAVESH CHITRAKAR Thailand swept the men's and women's 4x100m relay titles at the 31st SEA Games in Vietnam last night. Supawan Thipat, Supanich Poolkerd, On-uma Chattha and Athicha Phetkum clocked 44.39sec to win the women's crown in Hanoi. Vietnam came in second in 45.25 and Malaysia third in 45.32. It was Thailand's 24th title in the event in 31 Games. However, they could not beat Vietnam's SEA Games mark of 43.88. "Before the final, we said we would go out and have fun. We thought we could break the record. We failed to set a new record but at least we retained the title," said On-uma. Later, the Thai men -- Chayut Kongprasit, Sora-at Dabbang, Siripol Phanpae and Puripol Boonson -- sealed the gold in a SEA Games record time of 38.58sec. Malaysia were second (39.09) and Singapore third (39.44). Thailand's Joshua Robert Atkinson won his third gold medal of the 31st SEA Games, … [Read more...] about Thai sprinters dominate relay events