united states – Aisa Net http://aisa-net.com/ Sun, 20 Mar 2022 01:35:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://aisa-net.com/wp-content/uploads/2021/05/aisa-net-icon-150x150.png united states – Aisa Net http://aisa-net.com/ 32 32 Uni Program to Boost AI Literacy https://aisa-net.com/uni-program-to-boost-ai-literacy/ Sat, 19 Mar 2022 21:00:00 +0000 https://aisa-net.com/uni-program-to-boost-ai-literacy/

Six universities plan to conduct a pilot study program on artificial intelligence (AI) and computer engineering in the next term, aiming to produce around 200 graduates a year, the Ministry of Higher Education said. , Scientific Research and Innovation.

The program is designed with the so-called sandbox method, allowing the six universities and their students to work closely together, Minister Anek Laothamatas said yesterday.

The universities are CMKL University, King Mongkut Ladkrabang Institute of Technology, Mahidol University, Khon Kaen University, Chiang Mai University and Prince of Songkla University, he said.

Focusing on building the capacity of AI and computer engineering students, universities should organize online and in-person classes for them, he said. It aims to train graduates to take up positions in the fields of medicine and biosciences, finance and business, education, creativity industry, logistics, agro-industry. food and the digital economy, he said.

Students can choose to pursue disruptive pathways such as cybersecurity and UI/UX design.

The program is developed in collaboration with Carnegie Mellon University in the United States, which has more than 12 years of experience in teaching AI, said Akkarit Sangpetch, director of the Carnegie Mellon KMITL program.

The university is where the world’s first AI software was invented and is the best university in the world for AI, he said.

Hawaiian Airlines ‘preparing for Japanese market’: CEO https://aisa-net.com/hawaiian-airlines-preparing-for-japanese-market-ceo/ Tue, 15 Mar 2022 19:37:37 +0000 https://aisa-net.com/hawaiian-airlines-preparing-for-japanese-market-ceo/

As Japan begins to open its borders to outbound travel after a three-month restriction in response to the Omicron variant, Pacific airlines are gearing up to reap the benefits of increased travel activity to and from originating from the East Asian nation.

“We are preparing for the opening of the Japanese market, which is the most important international market for Hawaii over the next few months,” Hawaiian Airlines CEO Peter Ingram told Yahoo Finance Live in a recent post. interview. “We are really monitoring this situation very closely. And that’s going to dictate a lot of how our schedules look for the summer.

Travelers from Japan typically make up the largest group of tourists to Hawaii, according to Hawaii Public Radio. In 2019, Hawaii welcomed 1.5 million arrivals from Japan, the Hawaii Tourism Authority reported.

A surfboard concession stand is closed on Waikiki beach due to the downturn in business caused by the coronavirus disease (COVID-19) in Honolulu, Hawaii, United States, April 28, 2020. Picture taken on 28 April 2020. REUTERS/Marco Garcia

The Japanese government has announced that it will increase the limit for new arrivals from 5,000 to 7,000 per day and, as of April 1, will increase this figure to 10,000. The eleventh most populous country in the world has been a bit of an outlier regarding international travel restrictions in recent months, taking a more aggressive approach to limiting potential coronavirus outbreaks.

“I think there is the same potential for [increased demand] on the international side, as policy changes are put in place in places like Australia, which we’ve seen before, and then Japan and Korea, which are starting to loosen some of their restrictions on cross-border travel,” said Ingram said. “And that positions us pretty well.”

Visitors wearing protective face masks walk under New Year's decorations on Nakamise Street leading to Senso-ji Temple in the Asakusa district, a popular tourist spot, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan on December 24, 2021.REUTERS/Issei Kato

Visitors wearing protective face masks walk under New Year’s decorations on Nakamise Street leading to Senso-ji Temple in the Asakusa district, a popular tourist spot, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan on December 24, 2021.REUTERS/Issei Kato

In November, Japan closed its border to non-Japanese travelers in response to the appearance of the Omicron variant. Even now, access to Japan from the United States is extremely limited. Tourist travel is still not allowed in Japan.

“We’ve seen a big recovery in terms of domestic leisure travel demand and domestic Hawaii travel demand,” Ingram said. “[The recovery] got a little shaken up at the end of the year with the Delta surge and then the Omicron surge at the end of the year. But as we enter 2022, and come down from this peak in the Omicron business, demand is very strong and is shaping up to be a good summer domestically.

Ihsaan Fanusie is a writer at Yahoo Finance. Follow him on Twitter @IFanusie.

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FinVolution Group Announces Dividend of US$0.205 per American Depositary Share, Representing Approximately 15% of Fiscal 2021 Net Income Payout Ratio https://aisa-net.com/finvolution-group-announces-dividend-of-us0-205-per-american-depositary-share-representing-approximately-15-of-fiscal-2021-net-income-payout-ratio/ Mon, 14 Mar 2022 22:31:00 +0000 https://aisa-net.com/finvolution-group-announces-dividend-of-us0-205-per-american-depositary-share-representing-approximately-15-of-fiscal-2021-net-income-payout-ratio/

Dividend declaration for the fourth consecutive year

SHANGHAI, March 14, 2022 /PRNewswire/ — FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform, today announced that its Board of Directors (the “Board”) has approved the declaration of a cash dividend of $0.205 per American Depositary Share, which represents a payout ratio of approximately 15% of the Company’s net income for fiscal 2021 and is expected to be paid out on or about May 6, 2022 to shareholders of record at the close of business on April 13, 2022.

The decision to distribute dividends and the amount of such dividends are made at the discretion of the Board of Directors based on the Company’s operations, earnings, cash flow, financial condition and other relevant factors.

The historical trend of the Company’s average dividend payout ratio for fiscal years 2018 to 2021 was approximately 15% of the Company’s net income over the same period. Going forward, the Board of Directors of the Company has approved an annual cash dividend policy, pursuant to which the Company will declare and distribute a recurring cash dividend in the amount of at least 10% of net profit. of the Company after tax for the previous financial year.

Sir. Shaofeng GuChairman of FinVolution Group, said: “In line with our commitment to return value to our shareholders, we are delighted to distribute dividends for the fourth consecutive year. Our confidence in our core capabilities, our operational dynamism and the strength of our business both in China and abroad reinforces our belief in delivering sustainable, quality growth while sharing profits with our shareholders.”

About FinVolution Group

FinVolution Group is a leading fintech platform in China and connecting underserved borrowers internationally with financial institutions. Founded in 2007, the Company is a pioneer in China the online consumer credit industry and has developed innovative technologies and accumulated in-depth experience in the key areas of credit risk assessment, fraud detection, big data and artificial intelligence . The company’s platform, enhanced with proprietary advanced technologies, includes a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2021, the Company had over 140.3 million cumulative registered users.

For more information, please visit: http://ir.finvgroup.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the terminology such as “will”, “expect”, “anticipate”, “future”, “intend”, “plan”, “believe”, “estimate”, “target”, “confident” and similar statements. These statements are based on management’s current expectations and current market and operating conditions and relate to events that involve known and unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors in its market, its ability to increase the volume of loans facilitated by the the Company, its ability to introduce new lending products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer lending industry in Chinageneral economic conditions in China, and the Company’s ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE, including its ability to remedy any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, unless the applicable law requires it.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan
Tel: +86 (21) 8030 3200 Post. 8601
Email: ir@xinye.com

Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
Email: finv@tpg-ir.com


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SOURCE FinVolution Group

Treehouse Glamping Market Trends by 2026 with Top Key Players – Bangkok Tree House, Keemala, Rabeang Pasak Treehouse Resort, Treehouse-Villas Thailand and Orion Tree Houses B&B https://aisa-net.com/treehouse-glamping-market-trends-by-2026-with-top-key-players-bangkok-tree-house-keemala-rabeang-pasak-treehouse-resort-treehouse-villas-thailand-and-orion-tree-houses-bb/ Sun, 13 Mar 2022 12:17:08 +0000 https://aisa-net.com/treehouse-glamping-market-trends-by-2026-with-top-key-players-bangkok-tree-house-keemala-rabeang-pasak-treehouse-resort-treehouse-villas-thailand-and-orion-tree-houses-bb/

This Global Treehouse Glamping Market is an attempt to analyze the global opportunities in the field of the worldwide industry, its present capabilities and the potential in selected countries and regions in the market. The report to businesses and companies provides a better understanding of their ability to invest in the market. The report provides the most critical issues for companies of the leading organizations in the Global Treehouse Glamping Market around the world. The report aims to explain to market players the business outlook, key developments, and drivers of the global Treehouse Glamping Market.

The challenges and opportunities of the Treehouse Glamping market are presented in the report. The report highlights critical destinations in the value chain of the Global Treehouse Glamping Market. The report also highlights the issues and concerns of local and foreign players in the market and provides recommendations for policymakers and actions for industrialists to grow in the global Tree Glamping market. The report makes projections based on the current global economic scenario. Included are the uncertainties and difficulties faced by Treehouse Glamping market players.

Request a sample report: https://www.orbisresearch.com/contacts/request-sample/6329394?utm_source=PriGir

Key Players of the Global Treehouse Glamping Market:

Treehouse-Villas Thailand
The Treehouse of Bangkok
Rabeang Pasak Treehouse Resort
Orion Tree Houses B&B

Points covered in the Treehouse Glamping Market report:

• Overview of the global Treehouse Glamping market by studying different segments.
• The contribution of the global Treehouse Glamping market employment to economies around the world.
• The economic contribution of the global Treehouse Glamping market to the economies worldwide.
• Key players’ marketing approaches to attract foreign Treehouse Glamping markets.
• Domestic and global regulatory constraints faced by Treehouse Glamping market players.
• Global and/or regional Treehouse Glamping industry trends in selected countries.
• Financial information and market information of Treehouse Glamping Capital is provided in the report.

The treetop glamping industry type includes:

Online booking
Offline booking

Tree glamping industry applications consist of:

18-32 years old
33-50 years old
51-65 years old
Over 65

This report analyzes the recent Treehouse Glamping industry trends along with the production chain, consumption patterns, business activities at regional and international levels and other industry related areas. The report highlights the potential of the global Treehouse Glamping market in developed countries. The data used to study all factors of the Global Treehouse Glamping Market uses data from 2010 to 2020 also considering the last year for performing the analysis. The report compares the growth rates of the strongest segments and consumption and production patterns. The report provides a detailed study of the performance of major Treehouse Glamping markets on both domestic and global fronts. Additionally, the report highlights the countries with the greatest potential for future growth.

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Why Buy This Treetop Glamping Market Report?

• This report helps Treehouse Glamping market participants to strengthen their market position, improve their business, reach markets and gain competitive advantages.
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• The report leverages the abilities of Treehouse Glamping market players to seize new opportunities.
• The report offers supply chain visibility to improvise Treehouse Glamping market players who want to expand their business into new international markets.
• The Treehouse Glamping report compares the growth rates of the strongest consumption and production segments and patterns.
• The supply chain visibility provided in this report aids in understanding the drivers of the Global Treehouse Glamping Market and helps them maintain their leading position in the Global Treehouse Glamping Market over the forecast years.

About Us:

Orbis Research (orbisresearch.com) is a one-stop-shop for all your market research needs. We have an extensive database of reports from leading publishers and authors around the world. We specialize in delivering customized reports according to our clients’ requirements. We have complete information about our publishers and therefore are sure of the accuracy of the industries and verticals of their specialization. This helps our clients map their needs and we produce the perfect market research required for our clients.

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Why The Villains Of The World Are On The Rise https://aisa-net.com/why-the-villains-of-the-world-are-on-the-rise/ Sat, 12 Mar 2022 10:49:51 +0000 https://aisa-net.com/why-the-villains-of-the-world-are-on-the-rise/

With Russia’s invasion of Ukraine bringing us images of murdered civilians, bombed maternity wards and the horror of urban warfare, we really have to wonder about the human race. How come 145 million Russians allow someone like Putin to rule over them?

The answer to this question of course has everything to do with Russian history and politics, but an even more worrying point is that Putin is not alone. The world today is plagued by authoritarians, nationalists and dictators – tinpot and others. And they are on. In fact, you could argue that we are heading for unprecedented anti-democratic hegemony.

Forget the “dark forces rising” in Lord of the Rings or “winter is coming” in Game of Thrones. These are real things, happening in our lives. Without sounding alarmist, something even bigger is afoot than Russia invading Ukraine – a war between civilization and humanity’s worst impulses.

The implications for businesses and economies are myriad, but I would identify two key points. First, to some degree it represents a transition, it brings uncertainty, and we will know how much Mr. Market hates it. Second, authoritarianism and its evil twin, corruption, produce poor results for everyone except the unscrupulous few. Autocracies are not in the business of the rising tide.

What about World War II? It is true that 80 years ago Hitler, Mussolini, Imperial Japan and their puppets fought a brutal world war. It’s also true – for now at least – they were generally deadlier. But the Axis powers controlled a much smaller share of the world’s population than today’s authoritarians.

When it comes to today’s autocrats – Putin, Xi, Bolsonaro, Erdogan, Orbán, Khamenei and dozens more – it’s a mix of leaders. Some are military dictators, some are elected by the people, and some control by force of personality. What they all share at the very least is a disdain for globalism, and in most cases much more than that; the suppression of human rights and the media (a chilling source here), the imprisonment of political opponents, murder and, finally, acts such as the invasion of Ukraine.

Let’s look at the 10 most populous countries: China, India, United States, Indonesia, Pakistan, Brazil, Nigeria, Bangladesh, Russia and Mexico. My colleague Max Zahn and I turned to a 2021 study by the V-Dem Institute (Varieties of Democracy), a Swedish NGO that analyzes and ranks nations according to their democratic characteristics (i.e. home country Sweden has the strongest democracy and Eritrea the worst – below even North Korea.)

As for the 10 most populous nations, only four; the United States, Mexico, Indonesia and Brazil (which has “undergone substantial autocratization” over the past decade, according to the V-Dem report) and Indonesia are among the top 50% of nations democratic. (Mexico barely made the cut.) The others are all below the line, highlighted by China at No. 172 out of 179 countries and Russia at No. 151.

Russian President Vladimir Putin attends a meeting with Chinese President Xi Jinping in Beijing, China February 4, 2022. Sputnik/Aleksey Druzhinin/Kremlin via REUTERS ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY.

V-Dem finds that 70% of the world, or 5.4 billion people, live in autocracies, up from 49% in 2011. The report also found that only 15 countries are democratizing – covering 3% of the world’s population – the lowest number since 1978. (Another source here is Freedom House, which notes that the number of countries becoming less free has outnumbered those becoming more free for 16 consecutive years.)

Why does this happen?

“On some levels, it’s a return to the norm,” says Erica Frantz, associate professor of political science at Michigan State. “There was such a surge of democracy after the end of the Cold War, maybe we are settling into a new normal. At the same time, it is important to remember that democracies always outnumber dictatorships. Frantz also thinks that Putin’s invasion could ultimately backfire and slow the progress of authoritarianism.

Another perspective comes from Joseph Wright, a political science professor at Penn State. Wright argues that underlying much of this shift to autocracy is our demand for resources.

“This kind of aggressive behavior from people like Putin – we’ve seen it in the past with Iran as well as, to some extent, Venezuela – is driven by oil and gas prices,” he says. “As these prices rise, dictators whose states own assets in these sectors are consolidating their power at home, trampling on remnants of democratic institutions that could constrain their behavior. This emboldens their actions internationally, as we see now with Putin. The why now of the why attack in February 2022 – part of this is due to rising oil prices in 2021. The decarbonization of Western economies will limit the reach of authoritarianism.

As for Wright’s last point about decarbonization, I’m not so sure. I just don’t think the world going all solar would put an end to the megalomaniac urges of human beings.

Speaking of which, Frantz and Wright both refer to another tendency known as “personalism”, which, as Wright explains, is when “oligarchs are able to amass enormous fortunes, finance of the parties they create or support”. He notes: “In Benin, an oligarch created a party; in El Salvador, the president created a party; Brazil did the same. In Hungary, the president was able to consolidate power over the party with the help of the oligarchs. Georgia and Serbia are countries that have experienced it recently.

“We know that personalist dictatorships are more likely to be aggressive in foreign policy, more likely to initiate conflict, to provoke conflict with democracies,” Frantz says.

Hmm, does the personalism sound a bit familiar to you? Now might be a good time to point out that the United States only ranks 29th on the V-Dem list – between Japan and Latvia – and worse, like Brazil, has “undergone autocratization substantial” over the past decade. (Freedom House corroborates this, citing illegitimate attempts to nullify elections, an increase in political intimidation, violence and discrimination against racial and ethnic groups in the United States)

We have every right to be outraged by Putin and his obnoxious mob and to condemn them, but we better make sure to keep our own house in order. Investors, voters — and freedom lovers everywhere — will be watching.

This article was featured in a Saturday edition of the Morning Brief on March 12, 2022. Get the Morning Brief delivered straight to your inbox Monday through Friday by 6:30 a.m. ET. Subscribe

Andy Serwer is editor of Yahoo Finance. Follow him on Twitter: @server

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Saudi Arabia Fertilizer Market is expected to grow at a CAGR of 7.4% during the period 2022-2027 https://aisa-net.com/saudi-arabia-fertilizer-market-is-expected-to-grow-at-a-cagr-of-7-4-during-the-period-2022-2027/ Fri, 11 Mar 2022 16:57:00 +0000 https://aisa-net.com/saudi-arabia-fertilizer-market-is-expected-to-grow-at-a-cagr-of-7-4-during-the-period-2022-2027/

DUBLIN, March 11, 2022–(BUSINESS WIRE)–The report “Saudi Arabia Fertilizer Market – Growth Trends, Covid-19, and Forecast (2022-2027)” has been added to from ResearchAndMarkets.com offer.

The fertilizer market in Saudi Arabia is expected to register a CAGR of 7.4% during the forecast period (2022-2027). The effects of COVID-19 have been severe on the economy in all sectors of Saudi Arabia, leading to labor shortages, temporary factory closures and reduced operating rates across all sectors. industrial sectors of the country.

Even though factories have resumed operations, there have been shipping and logistics issues. Thus, finding air, sea or land freight was a major disruptive factor for companies involved in the industry. Higher costs of containers and shipping, transportation and storage have driven up fertilizer prices.

Over the years, Saudi Arabia, a country that receives an average of about four inches of rain each year, has sought to develop its agricultural sector to achieve self-sufficiency in food security. Thus, the application of fertilizers to improve crop growth and yield is expected to become crucial, creating an increased demand for fertilizers.

The fertilizer market in Saudi Arabia is expected to register a CAGR of 7.4% during the forecast period (2022-2027). The effects of COVID-19 have been severe on the economy in all sectors of Saudi Arabia, leading to labor shortages, temporary factory closures and reduced operating rates across all sectors. industrial sectors of the country.

Even though factories have resumed operations, there have been shipping and logistics issues. Thus, finding air, sea or land freight was a major disruptive factor for companies involved in the industry. Higher costs of containers and shipping, transportation and storage have driven up fertilizer prices.

Although nitrogen fertilizer segment took the largest share of the market with a share of 39.3% in 2021, the application of potassium fertilizer is increasing at a rapid rate as it can improve plant tolerance to abiotic stress , especially lack of water, which can otherwise significantly reduce crop yields. The production of fruits and vegetables has developed in the country.

Additionally, the COVID-19 pandemic has highlighted the importance of developing local food sources. Thus, increase in agricultural activity due to various government initiatives to achieve self-sufficiency is expected to drive the fertilizer market in the country during the forecast period.

Main market trends

Increase the export potential of fertilizers

Saudi Arabia is the largest ammonia exporter in the GCC region. Ammonia exports are mainly destined for the Indian market, with the rest being diverted to other Asian and African countries. There are various potential sales destinations for Saudi ammonia producers in Asia-Pacific, including China, Japan, South Korea, Thailand and Vietnam. Arab producers have a competitive advantage in supplying the Asia-Pacific region (especially South and Southeast Asia) compared to its other European, African and South American counterparts.

According to ITC trade, the export quantity of urea increased during the period 2017-2020 in Saudi Arabia. The country’s urea exports were recorded at 3,797.5 thousand metric tons in 2017 and reached 4,428.7 thousand metric tons in 2020. Thailand was Saudi Arabia’s main destination, with a share in value by 23.9% in 2020. Other destinations include the United States, Australia, South Africa and New Zealand.

The availability of natural gas at an attractive price in the country gives the advantage of low production cost. The ability of producers to run plants efficiently and reliably makes building integrated, export-oriented urea plants very attractive. This is expected to drive the overall market growth.

Nitrogen Fertilizers Dominate the Product Type Segment

Saudi Arabia accounts for about one-third of the GCC’s fertilizer export volume of approximately 7.2 million metric tons, with urea accounting for 53% and the remainder split between ammonia and DAP. Saudi Arabia depends mainly on imports for its domestic consumption of vegetables. To avoid total dependence on vegetable imports, the Saudi government has formulated policies that encourage farmers to grow crops that require little water rather than crops that consume more water. Vegetable yield increased from 174,026 hg/ha in 2016 to 176,524 hg/ha in 2018, thanks to improved water conditions.

Moreover, the increase in the cultivation of vegetable crops (tomatoes) mainly drives the demand for ammonium sulfate as it also helps in plant growth by providing nitrogen. Domestic demand for ammonium sulphate is mainly met by imports. SafSulphur company is one of the leading companies that offer good quality ammonium sulphate in Saudi Arabia.

Imports of ammonium sulphate into the country have grown steadily over the review period. For example, according to ITC trade, the import of ammonium sulphate increased from 1,981 metric tons in 2019 to 2,126 metric tons in 2020, indicating possible market growth in the coming years.

In addition, the government wants the country to be self-sufficient in vegetable production, especially after the food crisis a few years ago. As a result, the demand for nitrogen fertilizers, such as urea, is expected to increase in the coming years.

Competitive landscape

The fertilizer market in Saudi Arabia is moderately consolidated in nature, with major players accounting for 53.2% of the market share. Saudi Basic Industries Corporation (SABIC), Maaden phosphate Co., Arabian Agricultural Services Co. (ARASCO), Saudi United Fertilizer Co. (Al-Asmida) and Saf Sulfur Company are the major players in the fertilizer market in Saudi Arabia.

The domestic and international players in the market are focusing on strategies such as increasing investment in research and development, product launches, expansions and partnerships to improve their market share in the region.

Companies cited

  • Maaden Phosphate Co.

  • Saudi Society for Basic Industries (SABIC)

  • Al-Jubail Fertilizer Company (AlBayroni)

  • Al-Tayseer Chemical Industry

  • Jas Global Industries

  • Arabian Agricultural Services Co. (ARASCO)

  • Saudi United Fertilizer Company (AlAsmida)

  • Takamul National Agriculture

  • Saf Sulfur Company

For more information about this report visit https://www.researchandmarkets.com/r/2nev32

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220311005390/en/


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Last war in Ukraine: Kiev asks for security guarantees from the United States, Europe and Russia https://aisa-net.com/last-war-in-ukraine-kiev-asks-for-security-guarantees-from-the-united-states-europe-and-russia/ Fri, 11 Mar 2022 15:05:29 +0000 https://aisa-net.com/last-war-in-ukraine-kiev-asks-for-security-guarantees-from-the-united-states-europe-and-russia/

Ukraine is asking for security guarantees from the United States, European countries and Moscow as part of a possible settlement after the Russian invasion, a government adviser has said.

Kiev has acknowledged that its long-term goal of joining NATO’s military alliance is distant due to Kremlin opposition, and is instead seeking a separate short-term security deal, an adviser to President Volodymyr said on Friday. Zelensky.

Mykhailo Podolyak’s comments followed the breakdown of peace talks between Russian and Ukrainian foreign ministers in the southern Turkish city of Antalya.

Thursday’s meeting was their first since Russia invaded its neighbor on February 24, but it yielded few results, with sticking points including Moscow’s territorial claims over parts of Ukraine.

NATO “is still not ready to accept Ukraine as an unconditional partner,” Podolyak told the Financial Times. “This uncertainty, as we understand it, will last for a long time.”

He added that Ukraine was discussing “new European security formats” with Russia and the West that could give Ukraine “comparable guarantees” to Article 5 of the NATO treaty.

Podolyak made it clear that Ukraine would not agree to another deal with weak assurances, such as the 1994 Budapest Memorandum signed by Kyiv, Moscow, the United States and the United Kingdom.

The deal meant that Ukraine handed over its Soviet-era nuclear arsenal, which was the third largest in the world at the time, to Russia in return for security guarantees from the other signatories.

“The main problem with the Budapest Memorandum is the lack of clear legal obligations for the guarantor parties in the event of aggression,” Podolyak said.

“Now when we talk about security guarantees for Ukraine, we are only talking about clear legal obligations,” he added. “Specific logistical actions. Thus, in the event of aggression against Ukraine, specific states are legally bound to take specific measures to protect Ukraine,” he added.

UPDATE 1-North Korea’s Kim orders expansion of ICBM launch site – state media report https://aisa-net.com/update-1-north-koreas-kim-orders-expansion-of-icbm-launch-site-state-media-report/ Thu, 10 Mar 2022 21:59:39 +0000 https://aisa-net.com/update-1-north-koreas-kim-orders-expansion-of-icbm-launch-site-state-media-report/

(Adds details, context, South Korea’s assessment of recent tests)

SEOUL, March 11 (Reuters) – North Korean leader Kim Jong Un has called for expanding his intercontinental ballistic missile (ICBM) launch site into a “state-of-the-art forward base” in order to become a space power, reported the state media KCNA on Friday.

Kim made the remarks during a visit to the Sohae Satellite Launching Ground, which has been used to put a satellite into orbit, but also for various tests involving missile technology. These include static rocket motors and space launchers which South Korean and US officials say require technology similar to that used in ICBMs.

The KCNA report coincided with the joint announcement by South Korea and the United States that North Korea used a new ICBM in its two recent weapons tests, with the possible intention of firing it under the disguise of the launch of a space vehicle.

Kim inspected the base and ordered it to be upgraded and expanded to ensure that “various rockets could be launched to carry multi-purpose satellites, including a military reconnaissance satellite,” according to the KCNA report.

“It is the noble duty (…) to transform the launch pad, associated with our state’s great dream and ambition for space power, into a state-of-the-art advanced base and a starting line for the conquest of space for the future,” Kim said. . (Reporting by Hyonhee Shin; Editing by Grant McCool)

Japan imposes new sanctions on Russia and Belarus https://aisa-net.com/japan-imposes-new-sanctions-on-russia-and-belarus/ Tue, 08 Mar 2022 22:59:00 +0000 https://aisa-net.com/japan-imposes-new-sanctions-on-russia-and-belarus/

As the Russian invasion of Ukraine continues into its second week, the civilian death toll is rising, with several towns in dire need of supplies after Russian troops broke promises to maintain evacuation corridors. If you’re just logging in, here’s the latest:

Zelensky’s warning: Ukrainian President Volodymyr Zelensky appeared in his Kyiv office in a video released on Monday, in which he applauds the military’s efforts and says he will continue talks with Russia.

In a separate ABC World News Tonight interview with David Muir on Monday, Zelensky warned that the war would not end in Ukraine.

“Everyone thinks we’re a long way from America or Canada,” he said. “No, we are in this zone of freedom. And when the limits of rights and freedoms are violated and trampled, then you must protect us. Because we will come first. You will come second. Because the more this beast eats, he wants more, more and more.”

Evacuation corridors: Several attempts to evacuate civilians during temporary ceasefires have failed, with Western leaders accusing Russian forces of continuing to target pre-approved routes.

On Sunday, a Russian strike hit an evacuation crossing point outside Kiev, killing eight people, including two children, who were trying to flee the invasion.

On Monday, Ukraine’s UN ambassador accused Russia of blocking attempts to evacuate civilians, adding it was “appalling” that Russian troops opened fire on evacuees after the two countries have assigned certain roads to be used as evacuation corridors.

Almost all of the routes offered by Russia out of Ukraine lead to Russia or its close ally, Belarus, which Ukrainian authorities have described as unacceptable.

Russia on Tuesday proposed another temporary halt to its attack on five cities – Kiev, Chernihiv, Sumy, Kharkiv and Mariupol – to allow civilians to flee. Ukraine has not yet officially responded.

The military showdown: Russia’s attacks intensified on Monday, although the main advance towards Kiev by Russian forces remains “blocked”, according to a senior US defense official. The official did not have an update on the distance between a large Russian military convoy and downtown Kiev.

Russia has already committed “nearly 100%” of the combat power that was staged on Ukraine’s border and in Belarus, a senior US defense official said on Monday.

The United States announced on Monday that 500 additional American troops would be deployed to Europe to bolster NATO’s flank, including in Poland, Romania, Germany and Greece. These are intended to support US forces already in Europe, US officials said. The Biden administration has repeatedly said it will keep US troops out of the conflict.

Victims and refugees: United Nations officials say more than 1,200 civilian casualties have been recorded in Ukraine, with at least 406 people killed – although they say it is difficult to identify the true number of dead and injured. CNN cannot independently verify the number of victims.

More than 1.7 million people have fled Ukraine since the start of the war, with the UN warning the number could reach five million.

How the war in Ukraine could boost China’s global financial ambitions https://aisa-net.com/how-the-war-in-ukraine-could-boost-chinas-global-financial-ambitions/ Tue, 08 Mar 2022 01:00:00 +0000 https://aisa-net.com/how-the-war-in-ukraine-could-boost-chinas-global-financial-ambitions/

Sanctions imposed in response to Russian President Vladimir Putin’s invasion of Ukraine dealt a devastating blow to his country’s financial system and left the ruble down more than 30% this year, causing currency repercussions from Eastern Europe.

But the renminbi, the currency of Russia’s closest strategic ally and main trading partner, has remained remarkably stable.

The Chinese currency has barely budged since the start of the Russian invasion, even hitting a four-year high of around 6.31 Rmb against the dollar, extending a months-long period of resilience despite a recent slowdown in growth. of the Chinese economy.

Its relative stability has fueled rumors that the currency could become a safe haven asset, sheltered from the geopolitical turmoil that has rocked markets around the world. It would give a boost to more than 20 years of work by Beijing to globalize its currency by increasing its use in foreign trade and as a store of value in international finance.

“We are at a stage where the market no longer sees the renminbi as a highly speculative currency,” said Kelvin Lau, senior Greater China economist at Standard Chartered, adding that its recent stability was likely to bolster its reputation as a safe haven. . in times of stress.

What does this have to do with the dollar and the broader financial system?

Wider use of the renminbi across the world would theoretically make it easier for China to break through what it sees as US and Western dominance in global payments and finance – a power that has been wielded in recent days to punish the Russia.

There are signs of progress: in recent months, the Chinese currency has finally overtaken the Japanese yen in Swift’s international payments rankings to take fourth place for the first time. Meanwhile, a renminbi globalization index released by Standard Chartered showed its global position hit an all-time high.

But China’s real ambition is to go beyond reliance on Western-controlled financial infrastructure such as Swift, from which Russia has been partially excluded. That’s why it spent years developing its Renminbi-denominated Cross-Border Interbank Payments System (Cips), through which payments increased by around 20% to Rmb45.2 billion ($7.1 billion). ) in 2020.

Cips has around 1,200 member institutions in 100 countries and remains relatively light in international payments compared to Swift, which has around 11,000 members. But Russia’s own cross-border clearing system is far less developed, with around 330 institutions listed in far fewer markets, including Cuba, Armenia, Kazakhstan and Iran.

Chinese media have flagged the opportunity presented by Swift’s ejections, with state news agency Xinhua noting that “Russian financial institutions expelled from Swift may have to participate in China’s Cips” in light of the limited use of the Russian clearing system.

And as payment networks Visa, Mastercard and American Express have announced their intention to suspend operations in Russia, more and more banks in the country have also raised the possibility of issuing co-badged cards linked to both Russian international payment systems Mir and Chinese UnionPay.

Benjamin Cohen, a veteran scholar of international monetary relations, said there was no doubt that sanctions against Russia would further incentivize countries such as Iran, North Korea and Venezuela to diversify away from the dollar.

“Every time the United States and its allies weaponize access to the dollar, it creates an additional incentive for the Chinese to take advantage of it at some point,” Cohen said. “It’s not a case of Chinese wolf at the door [of US dollar hegemony]it’s more of a termite thing in the woodwork.

This corresponds to China’s long-standing ambitions.

“The events of the past few days will give a boost to countries and institutions that want to circumvent the dollar-based international financial system,” said Eswar Prasad, an economist and former chief of the IMF’s China division.

Why does China want to internationalize the renminbi?

Beijing’s desire for a global currency at par with the dollar dates back decades, but was reinvigorated in the early 2010s when US sanctions on Iran highlighted China’s own vulnerability to financial sanctions. systems of Western powers.

China launched Cips as a renminbi-based rival to Swift in 2015, after Russia was hit with sanctions for its invasion of Crimea the previous year.

“It was only after the Crimean crisis that China accelerated the pace of internationalization of the renminbi,” said Bruce Pang, head of research at China Renaissance.

Line chart of StanChart's Renminbi Globalization Index showing renminbi internationalization increased in 2022

This greater openness backfired in 2015, when a one-time devaluation of the renminbi by China’s central bank caused unprecedented capital flight and a prolonged fall in the currency. The rout only ended when Beijing implemented strict capital controls that remain largely in place.

Tommy Wu, chief China economist at Oxford Economics, said Beijing had learned from its mistakes but would feel renewed pressure to boost the currency’s global role following recent sanctions on Russia.

“Beijing will have more of a sense of urgency now,” Wu said. “But they still have to look at what happened in the past and what they can realistically do.”

How much is the renminbi already woven in Russia?

Since Russia launched its invasion of Ukraine, China has been exceptional among the world’s major economies in refraining from sanctions or even outright criticism. This is because the stakes are high on both sides to maintain cordial Sino-Russian relations.

Russia is a major supplier of oil and natural gas to China, and Moscow and Beijing have made removing the US dollar from their trade deals a priority since 2014, in response to the western backlash to the invasion of China. Crimea by Russia. The central banks of both countries signed a currency swap agreement that year, and it was recently renewed for Rmb 150 billion.

In the first quarter of 2020, the greenback’s share of Sino-Russian trade fell below 50% for the first time, according to Russia’s central bank, while the combined share of the ruble and renminbi in settlements rose to about a quarter.

That’s a big and growing sum: bilateral trade grew by more than a third to nearly $150 billion last year, according to China Customs. In February, the two countries pledged to take the total to $250 billion as Putin traveled to Beijing for the Winter Olympics, where he revealed new oil and gas deals with China worth over $117 billion.

The renminbi also takes up a large chunk of Russian foreign exchange reserves thanks in part to a 2019 deal allowing China to buy Russian gas in its own currency. A January report from the Russian central bank showed renminbi assets worth $73 billion at 13% of total reserves.

How far could China go to support Russia?

Analysts say the scope of sanctions against Russia so far could allow China to use its renminbi-based payments infrastructure to help circumvent measures intended to cut Moscow off from global finance.

China’s banks with an international presence are unlikely to rush to help from Russia, Wu said, but smaller domestic lenders not reliant on dollar-dominated Western finance could provide services in renminbi. and Russian institutions could eventually route global transactions through China’s vast state-owned banks.

However, Pang said concerns about harsh retaliation from Western countries — including possible sanctions against China itself — would seriously limit the ability of Chinese financial institutions to offer more substantial support to Russia.

“That’s why major Chinese financial institutions have complied with previous US sanctions against Iran and Russia,” he said. “China must carefully manage the pace of this operation and give Western countries no excuse for sanctions, bans or boycotts.”