Tag: business news
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Southeast Asia haze returns as peatland fires fan global warming fears
In this photo taken on Oct. 10, 2023, a man looks at a forest fire as it approaches houses in Ogan Ilir, South Sumatra in Indonesia. Al Zulkifli | AFP | Getty Images With El Nino in full force, officials are bracing for the worst transboundary haze in southern Southeast Asia since before the pandemic…
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Global rice markets are in crisis amid ‘artificial’ shortage
Rice is a crucial staple for over half the global population and the world is bracing for its most significant shortage in 20 years. India’s export ban on rice is reverberating through global rice markets, threatening food security if developing nations cannot afford or access rice. “The only shortage out there right now would really…
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Tencent-backed J&T Express fell in Hong Kong IPO debut
Courier handing over package asking female customer to do electronic signature, delivering, receiving, efficiency 10’000 Hours | Digitalvision | Getty Images Shares of Indonesia’s J&T Express fell 1.33% when it went public on Friday. The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion…
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Southeast Asia looks to renewable power for energy security
The floating solar photovoltaic power plant by EDPR Sunseap Group, a unit of Energias de Portugal SA, in Woodlands, in Singapore, on Wednesday, Dec. 7, 2022. Bryan van der Beek | Bloomberg | Getty Images Southeast Asia is home to some of the world’s fastest-growing economies. As energy demand grows, the region is turning to…
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Singapore exports fall for 12th month in September but recovery seen
Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Bernd von Jutrczenka | Picture Alliance | Getty Images Singapore’s exports fell for a 12th straight month in September on a year-on-year basis as the trade-reliant economy grappled again with global headwinds on inflation and declining…
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Cocoa farmers face mounting challenges as El Nino rages on
A woman spreads cocoa beans during the sun-drying process in the backyard of her house in Asikasu, Ghana on December 19, 2020. Cristina Aldehuela | Afp | Getty Images El Nino is here to stay — and that’s bad news for cocoa crops which are highly sensitive to weather changes. Frequent extreme weather events caused…
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Cities are fighting back against overtourism: Venice, Amsterdam, Bali
From overtourism to no tourism — and back again. Many cities have come full circle to worrying about too many tourists rather than too few. The rise of budget airlines, short-term home rentals and cruise ships are part of the problem, said Lionel Saul, a research assistant and visiting lecturer at EHL Hospitality Business…
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Indonesia launches China-backed ‘Whoosh’ high-speed railway
The Jakarta-Bandung high-speed train named ‘Whoosh’ is seen after the inauguration at Padalarang station in Padalarang, West Java on October 2, 2023. Bay Ismoyo | Afp | Getty Images Indonesian President Joko Widodo on Monday inaugurated a $7.3 billion high-speed railway connecting the country’s capital with the city of Bandung, a China-backed project that has…
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Indonesia could be the ‘gateway’ to EV investments in ASEAN
Korean automobile manufacturer Kia displays the electric vehicle “EV6 GT-Line” during the 30th Gaikindo Indonesia International Auto Show in Tangerang on August 10, 2023. Yasuyoshi Chiba | Afp | Getty Images Indonesia’s EV-friendly policies have lured global investors to the country, but experts say they could also boost investments in Southeast Asia’s automotive industry more…
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Oil prices fall ahead of more central bank steers on interest rates
This aerial photo shows the Enping 15-1 oil platform 200 km southwest of Shenzhen, south China, May 31, 2023. Mao Siqian | Xinhua News Agency | Getty Images Oil prices fell in early Asian trade on Thursday after falling by the most in a month in the previous session on U.S. interest rate hike expectations, and…