Week 1 of 2023 – YPF Around the Globe (English)

Timeframe: January 1 to January 7, 2022

Contributors: G.M.Sifat Iqbal, Affan Bin Saber, and Farhan Uddin Ahmed

To read Bangla, click here.

1. Politics

Tension rises again in Kashmir after the death of five people

Parts of Indian-administered Kashmir are tense after five civilians were killed in two separate attacks in the same area in less than 24 hours. Four people were killed and nine injured when militants opened fire on three houses in Rajouri district on Sunday evening. On Monday, an explosion near the same house killed a child and injured four others. The cause of the explosion was not immediately clear.

Top police officials have started an investigation into the incident.
Sunday’s attack triggered protests and strikes in Rajouri as people blamed the local administration for security lapses.

The region’s administrative chief Manoj Sinha condemned the “cowardly terror attack in Rajouri” and announced financial assistance to the families of the victims.

“I assure people that those behind this heinous attack will not be punished,” he tweeted on Monday.

The Himalayan region of Kashmir is hotly contested by both India and Pakistan, who both claim it in full but rule it in parts. The nuclear-armed neighbors have fought two wars and a limited conflict over Kashmir since 1947, when India was partitioned and Pakistan was created.

For more than three decades, the region has been waging an armed insurgency against Indian rule, claiming thousands of lives.

India has accused Pakistan of fomenting unrest in Kashmir by supporting separatist militants – a charge Islamabad denies.

Jammu and Kashmir was India’s only Muslim-majority state until August 2019, when the federal government revoked its autonomy and split it into two separate regions.

Source: BBC

2. Economics & Business

SpaceX raising $750 million at a $137 billion valuation, investors include Andreessen-Horowitz

Elon Musk’s re-usable rocket maker and satellite internet company, SpaceX, is raising $750 million in a new round of funding that values the company at $137 billion, according to correspondence obtained by CNBC.

Last month, Bloomberg first reported that SpaceX was allowing insiders to sell at $77 per share, which would have put the company’s valuation near $140 billion. The company raised more than $2 billion in 2022, including a $250 million round in July, and was valued at $127 billion during an equity round in May, CNBC previously reported.

According to an e-mail sent to prospective SpaceX investors, Andreessen Horowitz (also known as a16z) will likely lead the new funding round. Early SpaceX investors included Founders Fund, Sequoia, Gigafund and many others.

A16z also participated in Elon Musk’s leveraged buyout of Twitter, a $44 billion deal that closed in late October 2022.

Source: CNBC

Mongla port upgrade to be partially funded by China

In response to Bangladesh’s request, China finally agrees to fund a $400-million project for upgrading the Mongla seaport that holds potential to promote sub-regional cooperation.

Officials mentioned that China has decided to fund the ‘Expansion and Modernization of Mongla Port Facilities’ through government concessional loan (GCL) as their feasibility study found the project “crucial to development of Bangladesh”. China,sought to get the responsibility of implementation, operation, maintenance and management of the project which according to officials was accepted as this would help the Mongla Port Authority assess whether there is any fault in project implementation.

Under GCL, a framework agreement will be signed between the Exim Bank of China and the ERD of Bangladesh before the final loan agreement, which will last three years.

Source: The Financial Express

Alternative trading board for stocks launched

Alternative trading board for Bangladesh’s stock market launched on Wednesday to facilitate the secondary trading of non-listed companies, corporate bonds, open-ended mutual funds, and exchange-traded funds.

On the first day, stocks of LankaBangla Securities, a non-listed brokerage company, and bonds of Pran Group were available at the newly launched board.

Investors will able to buy and sell the shares digitally, those are listed with the ATB. For listing with the ATB, there is no lower limit of paid-up capital. So, any non-listed companies who are registered with the Registrar of Joint Stock Companies and Firms (RJSC), can be listed on the board.

Source: The Daily Star

3. Science & Technology

Buttonless cockpit in cars

Claiming to go full electric by 2028, Automobile manufacturer Chrysler designed a interior to compliment future car model and unveiled it on 4th January to appeal their future consumers .

Chrysler says its cockpit demonstrator is designed to help “manage the friction and chaos of everyday life with thoughtfully connected technology with a contemporary, sustainable environment. They also mentioned that they envision its vehicles achieving this by anticipating the driver’s needs before they even step inside the vehicle. The software is said to do a number of things including syncing all of users calendars and smart home data, noting what time users appointments are and where, as it begins to plot its owners day.

The concept is meant to serve as a preview of what’s to come and is expected to go into production in 2025.

Source: The Verge

4. Environment

Vietnam reaches $15.5B energy deal with G7 to reduce carbon emissions

Vietnam has reached a $15.5 billion agreement with a group of nine rich industrialised countries that would help the Southeast Asian nation cut its greenhouse gas emissions by shifting away from coal to renewable energy.

In an announcement made on Wednesday, the Group of Seven (G7) major economies, along with Norway and Denmark, said the aim is to help Vietnam reduce its emissions to “net zero” by 2050.

The announcement comes as Vietnamese Prime Minister Pham Minh Chinh is visiting Brussels to attend the ASEAN-EU Commemorative Summit marking 45 years of diplomatic ties between the two regional blocs.

“Net zero”, is a target that experts say needs to be met globally to cap global warming at 1.5 degrees Celsius (2.7 degrees Fahrenheit).

The Just Energy Transition Partnership with Vietnam is among a series of agreements that developing and rich nations are negotiating.

Source: TRT World

5. Society

Japanese government offers families 1m yen a child to leave Tokyo

Japan’s government is offering 1m yen ($7,500) per child to families who move out of greater Tokyo, in an attempt to reverse population decline in the regions.

The incentive – a dramatic rise from the previous relocation fee of 300,000 yen – will be introduced in April, according to Japanese media reports, as part of an official push to breathe life into declining towns and villages.

Although Tokyo’s population fell for the first time last year– a trend partly attributed to the coronavirus pandemic – policymakers believe more should be done to lower the city’s population density and encourage people to start new lives in “unfashionable” parts of the country that have been hit by ageing, shrinking populations and the migration of younger people to Tokyo, Osaka and other big cities.

Source: The Guardian

Disclaimer: The information provided here is obtained solely from the aforementioned third parties. Youth Policy Forum (YPF) is not responsible for any misinformation or misrepresentation.

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