Tue, 21-Oct-2025

Russian space agency reports $2.1 Billion loss from break with the West

Russian space agency reports $2.1 Billion loss from break with the West

Western countries imposed sanctions and severed their partnerships with Roscosmos in the space sector. The agency suspended the launches of its Soyuz rockets from the Kourou spaceport in French Guiana. The agency is setting a target to return to the volume of exports before sanctions. On Monday, Russia’s space agency reported that the break with … Read more

UK to guarantee $300 mln for climate funding in Asia and Pacific

UK to guarantee $300 mln for climate funding in Asia and Pacific

The UK will offer guarantees to support a climate funding initiative. The initiative aims to reduce greenhouse gas emissions. The announcement comes at the UN General Assembly. The UK will offer guarantees of up to $300 million to support a climate funding initiative aimed at reducing greenhouse gas emissions and enhancing climate-resilient infrastructure in Asia … Read more

Four migrants drown off Greek island of Lesbos

Four migrants drown off Greek island of Lesbos

Four migrants drowned off the Greek island of Lesbos. Eighteen other migrants were rescued. Greece is a major entry point for migrants and refugees. The coast guard reported on Monday that four migrants who were attempting to cross the sea from nearby Turkey drowned off the Greek island of Lesbos and that 18 others were … Read more

Neymar leaves PSG for Al Hilal in record-breaking transfer

Neymar leaves PSG for Al Hilal in record-breaking transfer

Neymar has signed a two-year contract with Al Hilal for €320 million. PSG will receive €90 million in transfer fees. Neymar has made 173 appearances and scored 118 goals for PSG. Brazilian football star Neymar has secured a lucrative two-year contract with Saudi Arabian club Al Hilal after reaching an agreement with Paris Saint-Germain (PSG). … Read more

Watch: Leopard hunting monkey with unbelievable backflip gone viral

Leopard unbelievable hunting

The video was posted on Twitter by the user. The cat family is the best at hunting wildlife. The leopard does the unthinkable and leaps. In terms of hunting wildlife, the cat family is undoubtedly the best. The feline species has performed some amazing hunts, as we have seen on numerous occasions. Tigers, lions, and … Read more

Malaysian floods kill 4 people, forced 40,000 to flee their homes

Malaysia

Rescue efforts are underway in Malaysia following seasonal. A man was trapped in a car that was swept away by rising floodwaters. Malaysian Meteorological Department experts have warned that the rainy weather could last until April. Rescue efforts are underway in Malaysia following seasonal floods that killed at least four people and displaced over 40,000. … Read more

Donnie Yen on changing scripts due to asian stereotypes in John Wick 4

Donnie Yen

Donnie Yen criticised the ‘John Wick: Chapter 4’ script for including Asian stereotypes. According to sources the actor told a magazine that he called out the ‘John Wick. Chad Stahelski, the director listened to Yen’s criticism and agreed to change the character. Donnie Yen criticised the ‘John Wick: Chapter 4’ script for including Asian stereotypes, … Read more

CBD is prohibited in Hong Kong, where it ranks with heroin and cocaine

Hong Kong
  • Importing, exporting, or producing CBD is forbidden in Hong Kong now.
  • Possession or consumption might result in a seven-year prison sentence.
  • CBD is legal in the United States, sections of Europe, and certain Asian countries, including Japan and Thailand.

HONG KONG – A new law in Hong Kong that criminalizes the possession, consumption, and sale of cannabidiol (CBD) went into force on Wednesday, putting the substance on par with heroin in terms of legal classification.

Users of CBD, a non-psychoactive component of the cannabis plant, claim that it relieves pain, tension, anxiety, and inflammation.

Hong Kong officials, on the other hand, have stated that the claims “lack authoritative scientific support” and have justified their ban by claiming that the items might be transformed into the psychoactive component THC, which is already outlawed in the city.

Importing, exporting, or producing CBD, which joins more than 200 other “dangerous medicines” forbidden in the territory, is punishable by life imprisonment and a fine of up to HK$5 million ($638,000).

Possession or consumption might result in a seven-year prison sentence and a HK$1 million ($128,000) fine.

CBD-infused goods have grown in popularity in recent years, with gummies, coffee, beers, and cosmetic creams all contributing to a sector that is estimated to be worth $47 billion by 2028, up from $4.9 billion in 2021.

CBD is legal in the United States, sections of Europe, and certain Asian countries, including Japan and Thailand.

Authorities in Hong Kong gave businesses and residents three months to dispose of any possible contraband before the stringent penalties went into force on Wednesday.

Take a step back

According to official data, around 77,400 things have been offloaded at government bins as of Sunday.

Customs officials warned shoppers last week to be wary of products emblazoned with hemp leaves, and on Wednesday, full-page newspaper advertisements stated: “Is there anything with CBD in it? No way!”

The new laws have had an impact on vendors in the recession-hit financial hub, pushing some to close completely.

“We had to cease selling a best-selling beer, and we still receive customers phoning to ask about the product on a regular basis,” said Chris Wong, co-founder of the HK Brewcraft store.

When it launched in 2020, Cafe Found advertised itself as the first in the city to provide a variety of CBD-infused dishes and drinks, while Yardley Brothers Craft Brewery stated it was compelled to discontinue a popular line.

“It feels like a step backward for HK,” the company’s founder, Luke Yardley, told.

While many countries have legalized the substance, mainland China will outlaw it in 2021.

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Billionaire calls for revisions to the failed Australia-Asia solar megaproject

solar
  • Andrew Forrest urged on Thursday for a rethink of a $20 billion+ project.
  • The firm said the project requires vision and precise execution.
  • To supply power to Singapore and Indonesia, the project entails constructing a 20 gigawatt.

MELBOURNE: Iron ore magnate Andrew Forrest urged on Thursday for a rethink of a $20 billion+ project to carry solar power from Australia to Singapore, which failed after a disagreement over funding between him and tech billionaire Mike Cannon-Brookes.

This week, less than a year after raising A$210 million for the Australia-Asia PowerLink project, Singapore-based Sun Cable, which is mostly owned by Forrest’s private company Squadron Energy and Cannon-Brookes’ private company Grok, hired voluntary administrators.

In Squadron’s first public comments since the collapse was announced on Wednesday, the firm said the project “requires vision and precise execution”.

“Squadron Energy believes in the vision but believes how the project is delivered needs urgent change,” Squadron Chairman John Hartman said in an emailed statement.

Solar farms in Singapore and Indonesia

To supply power to Singapore and Indonesia, the project entails constructing a 20 gigawatt (GW) solar farm, the largest energy storage facility in the world, and the world’s longest undersea cable, which is 4,200 kilometers (2,610 miles) long.

Hartman stated, “exceptional governance processes and world-class project delivery capabilities, as well as developing bankable technology, will be required.”

He was not available for further comment.

Co-owner Cannon-Brookes, who initially invested in the project in 2019 and described it as “totally batshit insane,” said on Wednesday that he still supported the initiative’s goals and crew 100 percent.

After speaking to “very senior people” at Sun Cable, Australia’s energy minister, Chris Bowen, expressed optimism that the project will eventually move forward with a new finance arrangement.

“I remain very upbeat and excited about Sun Cable’s future,” Bowen told reporters.

Sun Cable, whose construction had been slated to start in 2024, is essential to Australia’s goal of becoming a significant exporter of renewable energy, according to him.

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Goldman Sachs let go employees in Asia as worldwide job-cut drive has begun

Goldman
  • Staff at Goldman Sachs are bracing for news on whether they will keep their jobs or not.
  • Goldman’s redundancy plans will be followed by broader spending.
  • Just more than 3,000 employees will be let go.

The United States investment bank undertakes a massive cost-cutting effort that might result in thousands of layoffs from its 49,000-person global staff. Staff at Goldman Sachs are bracing for news on whether they will keep their jobs or not.

The long-awaited job cut at the Wall Street behemoth is expected to be the most significant reduction in headcount.

Most of the bank’s major divisions are likely to be affected, with its under-fire investment banking arm facing the most severe cuts.

Just more than 3,000 employees will be let go, the source who could not be named, said on January 9.

The job cuts began in Asia on Wednesday, when Goldman finished downsizing its private wealth management unit and laid off 11 private bank employees in its Hong Kong and Singapore offices, according to a source familiar with the situation.

According to the source, approximately eight employees were also laid off in Goldman’s research department in Hong Kong, with layoffs continuing in the investment bank and other divisions.

Goldman’s redundancy plans will be followed by broader spending. as it calculates the costs of a significant slowdown in corporate dealmaking and a drop in capital market activity since the Ukraine war.

Goldman had 49,100 employees at the end of the third quarter of 2022, after having to hire during the coronavirus pandemic.

Global investment banking fees nearly halved in 2022, with banks earning $77 billion, down from $132.3 billion the previous year, according to Dealogic data.

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Grain ship from Ukraine runs aground in the Suez Canal

Suez Canal
  • A container ship from Ukraine carrying more than 65,000 tonnes of corn has been refloated.
  • M/V Glory experienced a technical issue 24 miles (38 km) into its southerly voyage via the Egyptian waterway.
  • The obstruction caused ships to back up and momentarily halted international trade in several items.

A container ship from Ukraine carrying more than 65,000 tonnes of corn has been refloated after being stranded in the Suez Canal.

According to the Suez Canal Authority, the M/V Glory experienced a technical issue 24 miles (38 km) into its southerly voyage via the Egyptian waterway, close to the city of Qantara (SCA).

Regular canal traffic was anticipated to resume at 11 a.m. local time after tugboats transported the broken-down vessel to a repair area, where it was anticipated to only cause minor delays.

According to the Joint Coordination Centre, which is in charge of managing the grain exports, the ship departed Chornomorsk port in southwest Ukraine on Christmas Day with 65,970 metric tonnes of corn bound for China.

According to the center, an inspection on January 3 in Istanbul resulted in a clearance for the ship to continue its voyage.

The Suez Canal, which offers the quickest connection between Europe and Asia, was closed in March 2021 for six days when another ship, the Ever Given, became jammed horizontally in strong winds.

The obstruction caused ships to back up and momentarily halted international trade in several items.

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Global stock market mixed as oil prices well up amid Russian threat

global stock market

US indices rebounded and finished moderately higher on the back of mixed economic data. Japan’s inflation reached its highest level in 41 years. London posted modest gains on a shortened trading day. The global stock market ended Friday’s session with a mixed performance, as trading volumes were light due to the Christmas holiday and oil … Read more

Asia’s factory output declines as China lockdown impact widens

china lockdown

China’s private survey reveals a continuation of the PMI downturn. In Japan and South Korea, industrial activity declines. Surveys indicate a deteriorating prognosis for Asia in 2019. China’s rigorous Covid-19 lockdowns and a slowdown in global demand knocked on company mood in November, according to surveys released Thursday. The results showed Asia’s deteriorating economic picture … Read more

Xi says Asia shouldn’t be a ‘great power contest’ as APEC begins

Xi says Asia shouldn't be a 'great power contest' as APEC begins

World leaders gather in Bangkok for the Asia-Pacific Economic Cooperation (APEC) summit. Leaders from 21 economies are gathering to discuss ways to foster growth in the region. Chinese President Xi Jinping urges for peace, stability and the creation of a more equitable international order. As world leaders assemble for the final of three summits held … Read more

China registers back-to-back 2nd month growth in refinery output

china refinery output

China’s crude oil throughput increased by 0.8% in October. Refiners increased processing to export more refined fuel. Natural gas output jumped 12.3% from October to 18.5 billion cubic metres in November. China’s crude oil throughput increased by 0.8% in October compared to the same month a year earlier, according to data released on Tuesday, as … Read more

ADB lowers growth prediction for Asians as China imposes more lockdowns amid Covid-19

adb lowers growth prediction

The Asian Development Bank has lowered its 2022 growth prediction for emerging Asia. The Philippine bank cited the impact of Covid-19 lockdowns in China and turmoil in Ukraine. It also warned of “global headwinds” to the recovery as food and fuel costs surged. Wednesday, the Asian Development Bank (ADB) lowered its 2022 growth prediction for … Read more

United States wants to stop Iran from selling petrochemicals to Asia

United States

The US puts six companies on a list of those that can’t do business with them. They helped Iran get petrochemicals to East Asia while avoiding sanctions over Tehran’s nuclear programme. The sanctions freeze their assets in the US and limit their ability to use the global financial system. On Monday, the United States government … Read more

Japan’s yen is driven by safety concerns, after hearing of Abe’s shooting

yen

The Japanese yen rises by nearly half a percent against the U.S. dollar. Ex-PM Shinzo Abe was taken to hospital after collapsing while delivering a speech. The euro is down more than 2% this week on fears that gas shortages loom in Europe and economic growth will suffer. The pound is on course for its … Read more

Indonesia, UAE sign exchange agreement

Indonesia

Indonesia and the United Arab Emirates sign a free trade agreement. The accord strengthens economic ties between the two Muslim countries. UAE has forged closer trade ties with Indonesia as part of an ambition to double its own economy. The deal could increase bilateral non-oil trade to US$10 billion within five years from US$3 billion … Read more

Energy costs are wreaking chaos in Asia

Asia

A number of countries in Asia are experiencing their greatest energy crisis in years. There is also growing unrest and instability due to the rising cost of living. Even relatively wealthy nations such as Australia are feeling the squeeze of increased energy costs. The Australian government has suspended the national electricity market indefinitely. Asia: In … Read more

AU head says ‘reassured’ after talks with Putin on food shortages

AU

Global food shortages and grain stockpiles in Ukrainian ports were on the agenda. “I found Vladimir Putin committed and aware that the crisis” Macky Sall . The UN has said Africa faces an “unprecedented” crisis caused by the conflict. African Union Secretary-General Macky Sall On Friday, said he was “reassured” after talks with Russian President … Read more

Stocks rise, ruble slides tracking economic unrest

Stocks rise

European and US inventory markets rose Thursday after a blended Asian displaying, as traders assessed chances of a global recession in the wake of runaway inflation. Analysts warn that interest charge that rises through critical banks aimed toward curtailing the highest purchaser fee rises in decades may want to push the arena financial system right … Read more

China says Russian air patrol not aimed to any country

china

China’s military said on Wednesday that coordinated aviation operations with Russia over the Sea of Japan, East China Sea, and Western Pacific on Tuesday were not aimed against any nation. China’s defence ministry said on Tuesday that the patrol, the first since Russia’s invasion of Ukraine, was part of an annual military drill. The drills … Read more

China rate cut boosts Asian, European stocks

China

Asian and European shares rebounded Friday on China’s hobby price reduction, but US equities persisted to slump on fears that sky-high inflation will spark an international downturn. “Markets have been seeking out an excuse to bop, and a China rate reduce furnished the purpose,” IG analyst Chris Beauchamp informed. China’s central bank announced it would … Read more