World

The silhouette of an oil pump is seen at sunset. Oil prices jumped on Monday to the highest levels in years, fuelled by rebounding global demand that has contributed to power and gas shortages in key economies like China. Brent crude rose $1.26, or 1.5%, to settle at $83.65 a barrel. The session high was $84.60, its highest since October 2018. U.S. West Texas Intermediate (WTI) crude gained $1.17, or 1.5%, to settle at $80.52, after touching its highest since late 2014 at $82.18. The pace of economic recovery from the pandemic has supercharged energy demand at a time when oil output has slowed due to cutbacks from producing nations during the pandemic, focus on dividends by oil companies and pressure on governments to transition to cleaner energy. A U.S. administration official on Mon...

This year's flu season is going to be "a whopper," according to former Food and Drug Administration Commissioner and Pfizer board member Dr. Scott Gottlieb. But it's not 2021, or any single year health crisis, which is going to cause the biggest issues for the economy in a post-pandemic future. According to Gottlieb, it is the twin specter of an annual peak flu season and the beginning of a perennial peak Covid season which together will cost the economy and workers more than can be imagined. Gottlieb told CNBC he believes the end of the pandemic phase of Covid-19 is in sight, but matching the outlook of many epidemiologists, he says the endemic phase is coming. Or in other words, Covid is never going away for good. Much like the flu season, an annual Covid season should be expected, and b...

SHENYANG: China on Wednesday (Sep 29) demanded railway companies and local authorities raise their game in shipping vital coal supplies to utilities, as regions key to the world's no. 2 economy grapple with power cuts that have crippled industrial output. The order, handed down from China's powerful state planner, comes after a collision of tight coal supplies, tougher emissions standards and strong manufacturing demand has pushed the price of coal, the biggest source of China's electricity, to eye-watering records - just as winter approaches. Thermal coal futures in China hit an all-time high of 1,376.8 yuan (US$212.92) per tonne earlier on Wednesday - adding yet more pressure on power utilities unable to recoup added fuel costs. Curbs have been imposed on power use in large swathes...

1. Dow set to snap back after five sessions of losses A trader works on the floor at the New York Stock Exchange, August 27, 2021. Source: NYSE The Dow Jones Industrial Average was set to open 200 points higher Monday, bouncing after five straight sessions of losses. S&P 500 and Nasdaq futures were also pointing to a broad-based rally as a recent resurgence of Covid cases due to the delta variant appears to moderating. All three stock benchmarks finished lower Friday, with the S&P 500 also down five sessions in a row. The Nasdaq logged its third consecutive negative session. For the week, the Dow and S&P 500 dropped almost 2.2% and 1.7%, respectively, their worst weeks since June. The Nasdaq posted its worst week since July, sliding 1.6%. 2. House Democrats reportedly ready to propose t...

SINGAPORE: Suspecting his wife was having an affair and intending to set her on fire before killing himself, a Malaysian man crossed the border into Singapore, abducted the 40-year-old woman and doused her with petrol. The woman swallowed some liquid and had difficulty breathing, feeling burning sensations on her body and in her throat and stomach. Police apprehended Murugan Nondoh, 40, at Tuas Checkpoint before he could leave the country with his wife. They had been alerted to the case as the victim's niece had stayed on a phone call with her and overheard everything Murugan did and said. Murugan pleaded guilty on Wednesday (Sep 22) to four charges of abduction, criminal intimidation, voluntarily causing hurt and having an offensive weapon on him. The court heard that Murugan was jobl...

As major companies look at drastic ways to cut carbon emissions from corporate travel, airlines are bracing for a major hit to business-class travel, a key revenue driver, industry executives and experts say. Several companies, such as HSBC, Zurich Insurance, Bain & Company and S&P Global, have already announced plans to quickly cut business travel emissions by as much as 70%. Some are considering a carbon budget as they come under growing pressure from environmental advocates and investors to reduce indirect emissions that contribute to climate change. Flights account for about 90% of business travel emissions. That makes it the lowest-hanging fruit for companies setting reductions targets. The airline industry last week committed to reaching “net zero” emissions by 2050 at a meeting ...

:Saudi Arabian human rights group ALQST accused the Premier League of being driven only by money and employing 'profoundly inadequate' criteria for assessing human rights considerations in the wake of Newcastle United being acquired by a Saudi-led consortium. Saudi Arabia's Public Investment Fund (PIF) - chaired by Crown Prince Mohammed Bin Salman - now owns 80per cent of the club, with the rest divided between RB Sports & Media and PCP Capital Partners, whose chief executive, Amanda Staveley, led the takeover. While fans are hopeful that the takeover will help turn the Premier League club's fortunes around, several human rights groups have questioned the Premier League for allowing the move to go through, pointing to Saudi Arabia's poor human rights record. "For Saudi Arabia, the deal ...

In these pandemic times, the digital tools that connect people in the absence of travel have, by necessity, led to our voices taking precedence over our bodies. Fewer domains have felt the effects of this disembodiment more acutely than the performing arts. In Japan, as in many parts of the world, theaters are still struggling to find funding, facilitate live productions, run rehearsals, conduct outreach programs and fulfill the many activities that make up the community-based art form. Despite these setbacks the Kyoto Experiment (KEX) performing arts festival is going ahead with its October program. With the pandemic as its backdrop and social distancing still in effect, the theme for its 12th edition is “moshi moshi?!” a common expression used to answer the phone in Japan. Moshi moshi ...

An overpass during the rush hour in the north district of Qingdao City, in China's Shandong province. Cheunghyo | Moment | Getty Images Three of Asia's largest economies will spend an estimated $12 trillion to achieve net-zero carbon emissions in their transport industries, according to Dutch bank ING. China, Japan and South Korea account for almost two-thirds of all carbon dioxide emissions in Asia-Pacific, and approximately a third of global emissions, said the bank. Both Japan and South Korea have pledged to achieve net-zero carbon emissions by 2050, and China by 2060. Net-zero emissions refer to removing more greenhouses gases from the atmosphere than produced. The $12.4 trillion cost estimate is "equivalent to more than 90% of China's 2020 GDP," according to Robert Carnell, ING's Asi...

Japan’s first Family Mart convenience store sits on a busy stretch of road in Sayama, Saitama Prefecture, without much fanfare. Aside from an assortment of flowers that sit on display next to a Showa Era (1926-89) telephone box near the entrance, it looks just like any other of the franchise’s 17,000-plus outlets nationwide. An extensive array of food, drinks and household items sits on the shelves, while a freshly cooked batch of the chain’s signature fried chicken sits in a warming cabinet on the counter. Two rival franchises — 7-Eleven and Lawson — also operate in the neighborhood a short distance away. When it opened in September 1973, the Family Mart store in Sayama was something of an experiment at the time. When Family Mart opened its first store in Japan in September 1973, the...