Week 41 of 2022 – YPF Around the Globe (English)

Timeframe: 14 October to 21 October.

Contributors: G.M.Sifat Iqbal, Affan Bin Saber, Anika Bushra, and Mansib Khan

To read Bangla, click here.

1. Politics

At least eight people have been killed in an explosion at a Myanmar prison.

At least eight people have been killed in an explosion at Myanmar’s notorious Insein Prison. Locals told BBC Burmese that two parcel bombs exploded at the entrance to the prison on Wednesday morning, killing three prison staff and five visitors. Insein prison is the largest prison in the country with about 10,000 inmates, most of whom are political prisoners. No group has yet claimed responsibility for the attack. Officials confirmed that 18 others were injured. Authorities said the bombs exploded in the prison’s post room. Another bomb – which did not explode – was later found there wrapped in a plastic bag. All five dead visitors were women and relatives of the detainees, authorities confirmed.

Source: BBC

2. Economics & Business

China’s electric car market is growing but will it be sustainable?

Five years ago, the city of Beijing announced plans to ban fossil fuel-powered taxis. Today, thousands of cars run on batteries instead. And drivers of these electric vehicles (EVs) don’t have to worry about wasting time at charging stations. Many electric taxis in Beijing and dozens of other Chinese cities simply go to a battery-swapping station where a machine pulls out a depleted battery and installs a charged one in just a few minutes. Analysts agree that it will be very interesting to see what happens when the subsidy runs out. This could push Chinese EV makers into other markets – and maybe we’ll all fall in love with EVs, indirectly, thanks to Chinese authorities’ policies. We will have to wait and see.

Source: BBC

Soaring food prices push inflation to 40-year high

Along with the rise in energy and transport costs, the price of food increased by 14.6%. This is the largest rise observed since 1980. This can be attributed to the supply-chain disruption caused by the Russia-Ukraine war. Since the price of energy, raw materials, and others have increased, the end product has also increased. The Bank of England said that inflation could rise to 11% in October.

Source: BBC

3. Bangladesh (Economy)

Bangladesh, Brunei agree on energy cooperation

Bangladesh and Brunie decided to look into mechanisms to collaborate in the long-term energy sector, especially in the supply of Liquified Natural Gas (LNG) and other petroleum products. As a result, the two countries signed four bilateral instruments, including a memorandum of understanding (MoU). Both parties recognized trade and investments as essential areas of bilateral cooperation and stated their enthusiasm to cooperate to boost their two-way trade.

Source: The Business Standard

4. Science & Technology

E-waste: Five billion phones to be thrown away in 2022

A United Nations body decided to set a long-term aspirational target of net-zero aviation emissions by 2050 to reduce air pollution in International Civil Aviation Organization’s (ICAO) assembly. However, countries like China, among other countries aligned largely with airlines, oppose the motion. Moreover, China, backed by Russia and Eritrea, urged developed countries to financially support developing nations that have emerging aviation. ICAO cannot impose rules on countries, but those that agree to the decision usually try to fulfill the goal. A global goal like this will win the confidence of the industry, investors, and other stakeholders. Hence, the officials are hopeful that this initiative would garner private investment and boost supplies of new sustainable aviation fuel (SAF).

Source: Reuters

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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