Aisa Net Wed, 28 Sep 2022 11:44:32 +0000 en-US hourly 1 Aisa Net 32 32 UPDATE 1-Harris will be the latest dignitary to make a ‘to do list’ visit to the North Korean border Wed, 28 Sep 2022 09:13:58 +0000

(Updates to add TV tag)

By Josh Smith

SEOUL, Sept 28 (Reuters) – When U.S. Vice President Kamala Harris makes a planned visit to the demilitarized zone (DMZ) separating the two Koreas on Thursday, she will be the latest in a long line of dignitaries – and tourists – to come contemplate in secret North Korea.

The DMZ is a relic of the 1950-1953 Korean War, which ended in an armistice rather than a peace treaty, and despite its name, is heavily fortified coast to coast with barbed wire , heavy armaments and tank traps on either side of a 4 km wide Buffer Zone.

It is the symbol of a divided peninsula, separated families, geopolitical tensions and bloody military clashes. The area has also become a surreal tourist destination, with shopping malls, theme parks, hiking trails and other attractions, at least on the South Korean side.

US presidents and scores of senior officials have visited the area, often wearing military-style jackets and usually arriving with messages of support for the alliance that keeps nearly 30,000 US troops in South Korea.

“It’s symbolic in that these guys want to show they care about the DMZ and keeping the Peninsula safe, and it’s also a to-do list item,” Steve Tharp said. , a retired US Army officer who has spent years making it easy for everyone to visit the DMZ. from politicians and generals to American comedian Conan O’Brien, who filmed a skit from the North Korean side of the border.

Ronald Reagan was the first US president to visit the DMZ, but Bill Clinton and Donald Trump are the only sitting presidents to have visited the Joint Security Area (JSA), a cluster of buildings that hosts talks, and the only place where troops from both sides face each other, he said.

During Clinton’s 1993 visit, he walked to the Bridge of No Return, which spans the Military Demarcation Line (MDL) that forms the border, and was named after prisoners of war crossed it .

Clinton – who once called the DMZ “the scariest place on Earth” – reportedly kept asking if he had gone further than any other president, Tharp said.

He had. At least until Trump became the first US president to briefly enter North Korea, when he met leader Kim Jong Un at the border in 2019 for hastily arranged talks that ultimately did not succeed. to bring stalled denuclearization talks to life.

“He tweeted from Japan on a Saturday around 8 a.m. and arrived 24 hours later and was in the DMZ at 1:30 p.m. and walked through the MDL to meet Kim Jong Un,” said a former senior US official. defense.

“It was sporty, but we had a great team and it went off without a hitch.”


George W. Bush was supposed to visit on his first trip to South Korea as president in late 2001, but the September 11 attacks derailed the plan and when he finally visited the following year , it was at an observation post set back from the border and protected by a bulletproof glass shield, Tharp said.

Harris will be the first senior official in President Joe Biden’s administration to visit the DMZ, and U.S. and South Korean officials said the trip was meant to underscore the alliance between Seoul and Washington in the face of any threat posed by Korea. North.

“This sends a clear message of support for the alliance from the White House,” the former senior official said.

Biden visited the DMZ before becoming president, but decided against it on his first trip to South Korea as president this year.

During the latest wave of heightened tensions in 2017, then-Vice President Mike Pence visited the DMZ, calling it the “frontier of freedom” and later saying he went there because he wanted the North Koreans “to see our determination in my face”.

North Korea has isolated itself more than ever since the start of the COVID-19 pandemic and its DMZ border guards rarely venture out, often donning protective suits when they do.

Weeds have invaded the North Korean side of the line between the two Koreas where Trump and Kim shook hands in 2019. (Reporting by Josh Smith; Editing by Robert Birsel)

United States, India, Japan and Australia Combat Systems, Supply, Installation and Services 2021-2026 Tue, 27 Sep 2022 14:45:00 +0000

DUBLIN, September 27, 2022 /PRNewswire/ — The “Opportunities for Growth of the Quadruple Security Dialogue” report has been added to from offer.


In this study, the analyst provides an overview of the defense investments and relevant market players of each member of the Quad, highlighting key growth drivers, restraints, and opportunities. Among the persistent challenges facing the market are legal and political issues related to technology sharing as well as the long-standing reluctance to participate in defense partnerships.

Security concerns in the Indo-Pacific region have called for the establishment of the Quad Security Dialogue between United States, India, Japanand Australia. This partnership aims to strengthen defense collaboration through technology sharing and joint exercises.

The quad countries have individually made great strides in developing their local defense industries, particularly in the areas of missile defense technology, artificial intelligence, hypersonic systems and submarine capabilities, and thus serve models for the rest of the world.

However, their main concern today is how to combine their technologies to effectively address regional challenges while encouraging innovation and sustainability. The study period for this research is 2021-2026.

Main topics covered:

1. Strategic imperatives

  • Why is it increasingly difficult to grow taller?

  • The strategic imperative

  • The Impact of the Top 3 Strategic Imperatives on the Quad Security Dialogue

  • Growth opportunities fuel the growth pipeline engine

2. Growth Opportunities Analysis, Quad Security Dialog Market

  • Search scope

  • Important areas of application

  • Trends and Challenges

  • Quadruple Security Dialogue Expenditure

  • The biggest players in the market – United States

  • Relevant investments and projects – United States

  • The biggest players in the market – India

  • Relevant investments and projects – India

  • The biggest players in the market – Japan

  • Relevant investments and projects – Japan

  • The biggest players in the market – Australia

  • Relevant investments and projects – Australia

  • Joint Initiatives – Quad Security Dialogue

  • Growth engines

  • Growth constraints

  • SDG-15 regarding the Quadruple Dialogue on Security

3. Universe of growth opportunities

  • Growth Opportunity 1 – Tiered Information Sharing and Security Tools

  • Growth Opportunity 2 – Joint Research and Development

  • Growth Opportunity 3 – Combat Systems, Supply, Installation and Services

  • Conclusions and future prospects

For more information about this report visit

Media Contact:

Research and Markets
Laura Woodsenior

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900

US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716




View original content: – benefits-2021-2026-301634032.html

SOURCE Research and Markets

Housing finance market expected to reach $33.298.79 billion by 2031: Allied Market Research Tue, 27 Sep 2022 00:14:35 +0000

Allied Market Research

Rising need to streamline home loan services, increasing need for corporate and personal money to purchase homes, rising residential property prices and increasing urbanization are driving the growth of the market global housing finance. Rise in unemployment and rise in financial crisis among people during the pandemic has delayed new home purchases among people, which negatively impacted the growth of the global market.

Portland, OR, Sept. 26, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the housing finance market generated $4,520.67 billion in 2021 and is projected to reach $33,298.79 billion by 2031, growing at a CAGR of 22.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, of changing market trends, market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, early adopters and stockholders in introducing necessary strategies for the future and taking essential actions to significantly strengthen and increase their position in the market.

Download a free sample report (Get a detailed analysis in PDF – 358 pages):

Report coverage and details:

Report cover


Forecast period


base year


Market size in 2021

$4,520.67 billion

Market size in 2031

$33,298.79 billion



Number of pages in the report


Segments Covered

Application, Suppliers and Region


Increase in standard of living

Increased need to streamline home loan service


Sharp increase in the need for money from businesses and individuals to buy housing

Rising residential property prices and increased urbanization


Application of strict rules by banks and financial institutions to provide financing

COVID-19 scenario:

  • The housing finance market has been negatively impacted due to the presence of stringent regulatory mandates imposed by the governments of various countries across the globe.

  • There has been a huge financial crisis among people living in developing and developed countries due to the COVID-19 outbreak, which has resulted in the closure of various stores, businesses, manufacturing facilities and warehouses.

  • This then led to lower spending among customers. Consumer preferences during the pandemic, in terms of buying real estate, have reversed, due to impending job losses and wage cuts, forcing customers to postpone purchases of new homes.

  • In addition, an increase in business uncertainty has led to lower purchase rates for new buildings and new land among business owners, which has further hampered market growth during the COVID-19 pandemic.

The report offers detailed segmentation of the global housing finance market based on application, vendors, and region. The report provides a comprehensive analysis of each segment and their respective sub-segment using graphical and tabular representation. This analysis can essentially help market players, investors and new entrants to determine and design strategies based on the fastest growing and highest revenue generating segments mentioned in the report.

Interested in getting the data? Find out here:

Based on the demands, the home buying segment held the largest market share in 2021, holding nearly a third of the global market, and is expected to maintain its leading status during the forecast period. The home improvement segment, on the other hand, is expected to quote the fastest CAGR of 24.1% during the forecast period.

On a vendor basis, the banking segment held the major share of the market in 2021, holding more than one-third of the global market, and is expected to maintain its leading status over the forecast period. The segment of real estate agents, on the other hand, should cite the Fastest CAGR of 24.8% during the forecast period.

By region, the North American market held the largest market share in 2021, holding nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leading status during the forecast period. Also, the same segment is expected to quote the fastest CAGR of 25.1% during the forecast period.

Get a detailed COVID-19 impact analysis on the Housing finance market:

Key players analyzed in the Global Housing Finance Market report are Bank of America Corporation, Charles Schwab & Co., Citigroup, Inc., CREDIT SUISSE GROUP AG, Dewan Housing Finance Corporation Ltd., Goldman Sachs, HSBC Group, JPMorgan Chase & Co., LIC Housing Finance Ltd., Lloyd’s Banking Group, Morgan Stanley, Royal Bank of Canada, Royal Bank of Scotland plc., UBS, Wells Fargo, Divvy Homes, Inc. and Pronto Housing.

The report analyzes these key players in the global housing finance market. These market players have effectively used strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report helps to analyze recent developments, product portfolios, business performance, and operating segments of major market players.

Main benefits for stakeholders:

  • This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of the housing finance market analysis from 2021 to 2031 to identify opportunities in the housing finance market.

  • An in-depth analysis of the housing finance market share helps in determining the existing market opportunities.

  • Major countries in each region are mapped according to their revenue contribution in the global housing finance market forecast.

  • The report includes analysis of regional and global housing finance market trends, key players, market segments, application areas and market growth strategies.

Key Segments of the Housing Finance Market:
Per application:

  • House purchase

  • Refinance

  • Home improvement

  • Other purpose

By Providers:

By region:

  • North America (United States, Canada and Mexico)

  • Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland and Rest of Europe)

  • Asia Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia and Rest of Asia Pacific)

  • LAMEA (Latin America, Middle East and Africa)

“We have also published a few syndicated market studies in the same area that you may be interested in. Below are the titles of the reports for your reference, considering the impact of COVID-19 on this market, which will help you to assess the impact of the pandemic on the short and long-term growth trends of this market”.

Reports on trends in the BFSI sector (book now with 10% discount + COVID-19 scenario):

home insurance market By Coverage (Full Coverage, Housing Coverage, Content Coverage, and Other Optional Coverages), End User (Homeowners and Renters): Global Opportunities Analysis and Industry Forecast, 2020-2027

personal finance software market By Product Type (Web Software and Mobile Software) and End User (Small Business and Consumer): Global Opportunities Analysis and Industry Forecast, 2020-2027
Extended Warranty Market By distribution channel (manufacturers, retailers and others), coverage (standard protection plan and accident protection plan), application (automotive, consumer electronics, appliances, mobile devices and PCs, and others), end user ( Individuals and Businesses): Global Opportunities Analysis and Industry Forecast, 2021-2031
Buy now Pay later By channel (online and point of sale), application (retail goods, media and entertainment, health and wellness, automotive, home improvement and others) and end user (gen X, gen Z/millennials and baby -boomers): Global Opportunities Analysis and Industry Forecast, 2021-2030

About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of Market research reports and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (toll free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975

China’s electric vehicle subsidy program extended to end of 2023 Mon, 26 Sep 2022 17:06:43 +0000

China’s Ministry of Finance, State Tax Administration and Ministry of Industry and Information Technology (MIIT) have announced that they will extend their New Energy Vehicle (NEV) subsidy program until the end of 2023. The program was scheduled to end at the end of 2022.

The MIIT said the extension was to support the development of the NEV sector and stimulate automobile consumption. Vehicles purchased in 2023 of specifically qualified models will be eligible for the expanded subsidy program, according to an agency statement. An official list should be published soon.

MIIT’s decision marks the third time the NEV grant program has been extended by the Chinese government. The new extension, which will end the program at the end of next year, will cost taxpayers about 100 billion yuan, or more than $14 billion.

China’s electric vehicle market is the largest in the world, just as its overall passenger vehicle market is also the largest in the world. Last year, the country accounted for more than 57% of the total global production of electric vehicles. Even Tesla’s Gigafactory Shanghai accounted for the majority of the automaker’s global deliveries, as it was used as an export hub for the European market while supplying cars to domestic customers.

The growth of China’s electric vehicle market has evidently convinced the government to continue providing subsidies as the country’s focus on sustainable transportation and technology comes to the fore. China could also be widely regarded as the world leader in electric vehicle-related sectors, as it has some of the largest manufacturers and suppliers of electric vehicle batteries in the world. CATL, a China-based company, supplies several of the world’s largest electric vehicle companies with battery cells.

I would love to hear from you! If you have any comments, concerns, or questions, please email me at You can also reach me on Twitter @KlenderJoeyor if you have any topical tips, you can email us at

h/t: CNEVPost

China’s electric vehicle subsidy program extended to end of 2023

North Korea fires ballistic missile ahead of US Vice President Harris’ visit Sun, 25 Sep 2022 13:40:00 +0000

Join now for FREE unlimited access to

SEOUL, Sept 25 (Reuters) – North Korea fired a ballistic missile into the sea off its east coast on Sunday, ahead of planned military exercises by South Korean and U.S. forces involving an aircraft carrier and a visit to the region of US Vice President Kamala. Harris.

The South Korean military said it was a single short-range ballistic missile fired from near the Taechon area in North Pyongyan province just before 7 a.m. local time, and that it traveled about 600 km (373 miles) at an altitude of 60 km and at a speed of Mach. 5.

“The launch of a ballistic missile by North Korea is a serious provocative act that threatens the peace and security of the Korean Peninsula and the international community,” the South Korean Joint Chiefs of Staff said. in a press release.

Join now for FREE unlimited access to

After the launch, Chairman of the Joint Chiefs of Staff Kim Seung-kyum and Commander of U.S. Forces Korea Paul LaCamera discussed the situation and reaffirmed their willingness to respond to any threats or provocations from North Korea. , he added.

South Korea’s National Security Council held an emergency meeting to discuss response measures and condemned the launch as an apparent violation of UN Security Council resolutions and an unjustifiable act of provocation.

South Korean President Yoon Suk-yeol, who arrived in Seoul on Saturday evening after traveling to Britain, the United States and Canada, was briefed on the launch, the presidential office said.

Japanese Defense Minister Yasukazu Hamada said Japan believes the missile reached a maximum altitude of 50 km and may have flown on an irregular trajectory. Hamada said it was outside Japan’s exclusive economic zone and there were no reports of navigation or air traffic problems.

Many short-range missiles tested by North Korea in recent years were designed to evade missile defenses by maneuvering in flight and flying in a lower, “depressed” trajectory, experts said.

“If you include the cruise missile launches, this is the nineteenth launch, which is an unprecedented rate,” Hamada said.

“North Korea’s action poses a threat to the peace and security of our country, the region and the international community and to do so while the invasion of Ukraine is unfolding is unforgivable,” he said. he said, adding that Japan had protested through the North Korean embassy in Beijing.

The US Indo-Pacific Command said it was aware of the launch and was consulting closely with allies, in a statement released after the launch, while reaffirming US commitment to the defense of South Korea and Japan.

“While we have assessed this event as not posing an immediate threat to U.S. personnel or territory, or to our allies, the launch of the missile highlights the destabilizing impact of illegal weapons of mass destruction and DPRK ballistic missiles.”


The launch comes after the U.S. nuclear-powered aircraft carrier USS Ronald Reagan arrived in South Korea to participate in joint exercises with South Korean forces for four days from September 26-29, and ahead of a planned visit to Seoul. this week by Harris. Read more

It was the first time the North had carried out such a launch after firing eight short-range ballistic missiles in one day in early June, leading the United States to seek more sanctions for violating Security Council resolutions. the UN.

North Korea rejects UN resolutions as a violation of its sovereign right to self-defense and space exploration, and has criticized previous joint exercises by the United States and South Korea as evidence of their hostile policies.

The drills have also been criticized by Russia and China, which have called on all parties not to take steps that escalate tensions in the region, and called for an easing of sanctions.

After North Korea conducted an unprecedented number of missile tests this year, including its intercontinental ballistic missiles for the first time since 2017, the United States and South Korea said they would step up exercises spouses and military displays of power to deter Pyongyang.

“Defense drills are not going to prevent North Korean missile testing,” said Leif-Eric Easley, professor of international affairs at Ewha University in Seoul.

But U.S.-South Korean security cooperation helps deter a North Korean attack and counter coercion from Pyongyang, and allies must not let provocations prevent them from conducting military training and exchanges needed to maintain the alliance. , he added.

South Korea’s Yonhap news agency reported on Saturday that North Korea may also be preparing to test a submarine-launched ballistic missile (SLBM), citing the South Korean military. Read more

Join now for FREE unlimited access to

Reporting by Jihoon Lee; Additional reporting by Josh Smith and Tim Kelly; Editing by Daniel Wallis and Himani Sarkar

Our standards: The Thomson Reuters Trust Principles.

The president visits Japan and the Philippines on Monday (26) Sun, 25 Sep 2022 10:36:00 +0000

COLOMBO (News 1st) – President Ranil Wickremesinghe is due to leave the island early tomorrow morning (26) for an official visit to Japan and the Philippines.

During his two-day official visit to Japan, the President will attend the funeral ceremony of former Prime Minister of Japan, Mr. Shinzo Abe, and hold bilateral talks with the Japanese Prime Minister, Minister of Foreign Affairs and the Minister of Finance during this tour. .

Subsequently, President Ranil Wickremesinghe is expected to leave for the Philippines to chair the meeting of governors of the Asian Development Bank.

During his visit to the Philippines, President Wickremesinghe will meet with Philippine President Bongbong Marcos and Asian Development Bank (ADB) President Masatsugu Asakawa.

The president is due to return to the island at the end of his official tour on September 30.

The President’s Senior National Security Advisor and President’s Chief of Staff Sagala Ratnayake, Director of International Affairs Dinuk Colomboge, Director of Media Shanuka Karunaratne, Director of Sustainable Development Randula Abeyweera and Private Secretary to the President Sandra Perera will accompany the President on his official tour. The Treasury Secretary will join the President during his visit to the Philippines, but Mr. Dinuk Colomboge and Mr. Randula Abeyweera will not join the President during his official visit to the Philippines.

Recent news

Swamiji, when will you become finance minister? The BJP MP gave a funny response Sat, 24 Sep 2022 14:28:36 +0000

BJP leader and Rajya Sabha MP Subramanian Swamy is known for his wit. Today he gave such a funny answer to a user’s question, which is a big hit on social media.

BJP leader Subramanian Swamy.

Image credit source: Twitter

BJP leader and Rajya Sabha MP Subramanyam Swami Are very active on social media. If they like a user’s comment, they definitely respond to it. One thing everyone will know about Subramanian Swamy is that he never fails to express his impeccable opinion anywhere and anytime. Whatever the question, the answer is always there. Something similar happened today. On Saturday, he tweeted about the rumored Chinese President Xi Jinping being under house arrest, in which he asked if Xi Jinping was under house arrest in Beijing?

In response to this, a user asked him, “Swamiji, when will you become Minister of Finance? Swamiji gave the best funny answer to this user question. Subramanian Swamy said, when the leader will have wisdom. Swamiji’s response is highly praised on social media. Rumors are swirling on social media that Chinese President Xi Jinping has been placed under house arrest in Beijing. It is also claimed that he was also removed from his position as army chief. BJP MP Subramanian Swamy had tweeted about the rumour.

Subramanian Swamy gave a funny answer

Swamy had asked, “Is Xi Jinping under house arrest in Beijing?”

He tweeted and asked, “Is Xi Jinping under house arrest in Beijing? It is said that when Xi was recently in Samarkand, the Chinese Communist Party leaders removed him as army chief. Then he was placed under house arrest. There is such a rumor on social networks, which should be investigated. However, there has been no official confirmation of these rumors circulating on social media.

In response to Swamy’s tweet, another user tweeted, Rahul Gandhi and you should know what’s going on in China. In response, Swami said, “If you are a complete nationalist, I can help you dispel your ignorance. If these rumors turn out to be true, what will be the economic impact, particularly for India? In response, Swamy said, “We don’t need Russia and China for our economy.


Cryptocurrencies Cannot Be Considered a Financial Investment: South Korean Financial Regulator Crypto Fri, 23 Sep 2022 23:00:00 +0000

“Although he admitted to helping local prosecutors classify Terra-LUNA tokens as securities,” Governor of South Korea’s Financial Surveillance Service (FSS) Lee Bok-Hyun is not d agree with the idea that cryptocurrencies cannot be considered as financial investment products or securities, according to local media. .

At a press conference on Thursday, Lee said: “As someone in the area of ​​law and financial services, the judgment that in certain circumstances, [crypto] can be considered titles.

Lee said prosecutors also have the power to determine whether a subject is safe, noting that power does not rest solely with financial authorities.

On Wednesday, a warrant for the arrest of Do Kwon, co-founder of Terra, and five other affiliates was issued by South Korean prosecutors investigating the collapse of Terra-LUNA on suspicion of violating market law. capital.

This happened because the now defunct stablecoin and sister cryptocurrency Terra were considered securities by prosecutors.

Yoon Suk-yeol, the president of South Korea, said earlier this year that his government would regulate cryptocurrency in two ways: for tokens that look like securities and for non-securities.

While utility tokens and non-security tokens will be regulated under a new cryptocurrency law, the government intends to regulate securities-like tokens under the existing capital markets law.

While regulating the industry, South Korea is entering the Web3 market.

According to a recent article by Be[In]Crypto, South Korea’s ruling party lawmakers are crafting a law to promote the metaverse industry.

The first set of metaverse ethics was later released by South Korea’s Ministry of Information and Communication Science and Technology (ICT).

Authorities also announced last month that airdrops of cryptocurrency will be subject to a gift tax at the rate of 10% to 50%.

As new participants enter the cryptocurrency and metaverse sectors, South Korea is experiencing legislative changes.

Yoon Suk-yeol, the president of South Korea at the time, expressed his intention to lift the country’s ban on initial coin offerings (ICOs), which led to the wave of reforms that followed.

The Bank of Korea also released a local paper on August 29 on the “European Union Crypto Asset Market Act (MiCA)” in which it called for the legalization of ICOs in the country.

Latest posts by Andrew Smith (see everything)

Europe’s appetite for LNG leaves developing countries starved of gas Fri, 23 Sep 2022 16:39:40 +0000

An overwhelming appetite from Europe for liquefied natural gas meant to replace Russian pipeline exports is leaving developing countries starving for gas and creating a market for traders to profit from a rush to secure supplies.

China, India, Brazil, Pakistan and Bangladesh will see the highest rate of decline in liquefied natural gas demand this year, down 34.5 million tonnes from forecast for the year latest, according to data from commodity analysis firm ICIS, compiled for the Financial Times. This equates to around 9% of global LNG supplies in 2021.

Increasingly, they are being outbid on expensive LNG by wealthier countries trying to fill the hole left by Russia holding back its energy exports. Demand in Europe, Japan, South Korea, Taiwan and Thailand is expected to increase by a total of 46.6 million tonnes this year. Europe, including the UK, accounts for 85% of the increase in demand, according to ICIS.

This imbalance not only threatens to push many emerging economies into energy crises that could prolong their reliance on dirtier forms of fuel. LNG traders are also looking to take advantage of price differences in global markets, as these countries often use the spot market to buy the raw material.

Countries like Pakistan and Bangladesh “hooked in and paid as much as they could in this bidding war, mostly with Europe, on spot cargoes,” said senior gas analyst Alex Siow. for Asia at ICIS. “We still hear them trying to underbid, and sometimes they get this weird cargo here and there. Unfortunately, this is not enough for everyone.

With the level of increase in LNG demand exceeding the declines destroyed, “it is safe to say that [the LNG market] will continue to be tight until 2025-2026, when some of the largest LNG supply plants come online,” added Siow.

This compression pushed the average Asian spot, or cash, price up nearly 140% higher than a year ago.

Some traders spot an opportunity in the market. Long-term contracts signed years ago are tied to reference prices well below current prices.

Even though LNG traders pay penalties for skipping a contractual delivery, they can make a big profit selling in the spot market where prices are much higher.

The spotlight recently fell on a former unit of Gazprom based in Singapore, which had an obligation to supply Gail, India’s state-owned gas distributor, for 20 years under a deal signed in 2012.

In her earnings call in early August, Gail revealed she had not received the contracted quantity of LNG from Gazprom’s former unit – now called SEFE Marketing & Trading after Germany took control of her company. mother – since May, with LNG traders suspecting he is selling cargo destined for Gail on the spot market.

SEFE, which stands for Securing Energy For Europe, said in a statement to the Financial Times that this was because it was managing its LNG stocks as it “is currently deprived of a considerable part of its gas supplies” after what he called the “Russian sanctions”. on the group. “With European markets still tightening, [the Singapore-unit] uses the contractual mechanisms of its agreements to manage the situation,” he said.

An LNG trader said that since the summer of last year, when gas prices started to rise in Asia and Europe, he has seen “several cases” of industry players canceling their contracts at term and sell the cargoes on the spot market at a higher price. margin despite “the risk of completely destroying trust”.

Toby Copson, global head of trading and consulting at Trident LNG, a gas trading company, said if traders could make more profit by canceling cargoes and reselling them to someone else at a high rise, “they’ll do it every time”. .”

“The terms of the contract allow it. . . It’s not new. If you are on the other end of this trade it is frustrating, and with the market so tight now it will have dire consequences,” he added.

Developing countries that have been unable to supply themselves with LNG are increasingly turning to more polluting fuels.

Consultancy Wood Mackenzie said small industries in India are turning to fuel oil and liquefied petroleum gas for heating, while oil-fired power generation has increased fivefold in Pakistan and 45% in Bangladesh.

High prices for LNG and other fuel sources have been particularly painful for countries in South Asia, which rely heavily on imported natural gas for power generation. Pakistan and Bangladesh, for example, have experienced widespread power outages in recent months.

In Pakistan, fuel shortages have caused a surge in demand for alternatives like coal from neighboring Afghanistan, where the Taliban has encouraged exports to its energy-starved neighbor. Some researchers estimate that Afghanistan’s coal exports to Pakistan have doubled this year.

“European and Japanese storage are filling up significantly, but one wonders how long that will last,” said Sam Reynolds, energy finance analyst at the Institute for Energy Economics and Financial Analysis.

If Europe does not reduce its gas consumption, “in March of next year, we could be in the exact same place where it needs to absorb more LNG. And so countries in emerging Asia are going to take every opportunity they can to keep the lights on, and that may mean dirtier fuels, which may be more imports from neighboring countries.

Deep UK tax cuts deepen sell-off, dollar soars and bonds plunge Fri, 23 Sep 2022 12:33:00 +0000

Join now for FREE unlimited access to

  • MSCI All-World hits 2-year low
  • The dollar hits a new high in two decades
  • Pound, gilts sell off after UK ‘mini-budget’
  • Yen down but traders wary of more intervention
  • Treasuries head for eighth weekly loss

LONDON, Sept 23 (Reuters) – Stocks hit a two-year low on Friday, the dollar hit a two-decade high and bonds sold off again as investors feared bigger gains interest rates are on track to bring inflation under control, while UK assets have plunged after huge debt-funded tax cuts were announced.

British assets were already weaker but extended their slide after Britain’s new finance minister unveiled a landmark tax cut package that will see government borrowing soar. UK bond yields were set to see their biggest daily rise in decades, and money markets were pricing Bank of England interest rates up to 5% by May next year. The pound lost 2%. Read more

The mood in the markets was sour all week, with major central banks making further rate hikes of 350 basis points to fight inflation, Japan stepping in to support the yen and gloomy data from the purchasing managers’ index on Friday indicating a growing slowdown in major economies. Read more

Join now for FREE unlimited access to

Rates were hiked in the US, Britain, Sweden, Switzerland and Norway – among others – but this is the signal from the Federal Reserve that it expects US rates highs last until 2023 which triggered the last selloff.

The MSCI Global Equity Index (.MIWD00000PUS) fell to its lowest level since mid-2020 on Friday, having fallen about 12% in about a month since Fed Chairman Jerome Powell made it clear that lower inflation would hurt.

The euro fell for a fourth straight day after data showed the slowdown in Germany’s economy worsened in September as consumers and businesses grapple with an unprecedented energy crisis and inflation spiral. Read more

European stocks were a sea of ​​red for a second day, under pressure from losses in everything from banks to natural resources and tech stocks.

The pan-regional STOXX 600 (.STOXX) fell around 2.2%, while the Frankfurt DAX (.GDAXI) lost 1.94%, ranking it as one of the worst performing indices in Europe.

“Virtually everything other than inflation data and central bank policy decisions is just noise at the moment, with the market focusing firmly, and almost solely, on how high rates will rise on developed markets and how long they will remain at these highs,” he added. Michael Brown, chief strategist of Caxton FX, said.

S&P emini futures fell 1.15%, suggesting a weaker start on Wall Street later.

London’s FTSE (.FTSE) lost 1.9%, amid the pound falling 2% to another 37-year low and as low as $1.1022 at one point. The cost of insuring UK debt against default also jumped.

Cost of insuring UK debt against default soars

“Generally, looser fiscal policy and tighter monetary policy are a positive mix for a currency – if it can be funded with confidence,” said Chris Turner, global head of markets at ING:

“Here’s the catch – investors are having doubts about the UK’s ability to finance this package, hence the underperformance of gilts.”


As U.S. rates were expected to rise faster and stay high longer, the dollar hit a two-decade high and extended double-digit gains for the year against multiple currencies. The Swedish krona, sensitive to the mood of global investors, fell several times against the dollar this week to its weakest level since at least the early 1970s, according to Refinitiv data.

King dollar reigns supreme

Yields on benchmark 10-year U.S. Treasuries have soared as investors shed inflation-sensitive assets like bonds.

The 10-year yield rose 5 basis points to 3.776%, another 11.5-year high and on course for its eighth straight weekly increase.

Eurozone bond yields also rose sharply, with the Italian 10-year rising to 4.294%, its highest since late 2013, ahead of Sunday’s Italian elections.

The euro marked another 20-year low, plunging as low as $0.9736.

The Japanese yen fell sharply on Thursday until Japanese authorities stepped in to buy the currency for the first time since 1998 and halt its long slide. Read more

On Friday, the yen gave up some of its gains, with the dollar up 0.4% to 142.97 yen to the dollar. Few believe the yen’s rally will sustain given the dovishness of the Bank of Japan.

Gold, which earns no interest, came under pressure, particularly during this quarter, as yields rose. It was last down 1.55% on the day around $1,644 an ounce, its lowest level in two years.

Join now for FREE unlimited access to

Additional reporting by Tom Westbrook in Sydney and Joice Alves in London Editing by Kim Coghill, Kirsten Donovan

Our standards: The Thomson Reuters Trust Principles.