Week 47 of 2022 – YPF Around the Globe (English)

Timeframe: 19 to 25 November

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

To read Bangla, click here.

1. Politics

Jiang Zemin: Former Chinese leader dies aged 96

Former Chinese leader Jiang Zemin, who came to power after the Tiananmen Square protests, has died at the age of 96.

State media reported that he died shortly after 12:00 local time (04:00 GMT) in Shanghai on Wednesday.

Jiang presided at a time when China opened up to the outside world and saw high-speed growth.

His death came as China saw some of its most serious protests since Tiananmen

Source: BBC 

2. Economics & Business

India’s GDP grows at 6.3% in the July-September quarter

According to estimates released by the National Statistics Office, India’s gross domestic product (GDP) grew by 6.3% in the July-September quarter, with gross value added (GVA) in the economy growing by 5.6%. GDP growth in the first quarter of the year was 13.5%, and GVA rose 12.7%.

While GVA from agriculture accelerated to 4.6% in the second quarter, manufacturing and mining GVA contracted by 4.3% and 2.8% respectively in the second quarter from a year ago.

The sharpest GVA growth in Q2 was reported by trade, hotels, transport, communication, and services related to the broadcasting sector, which grew by 14.7%, followed by financial, real estate, and professional services, which grew by 7.2% in GVA, and construction which was 6.6%. % increased.

Source: The Hindu

1-1.5m tonnes of LNG expected from Brunei annually

On Thursday following the bilateral meeting between Bangladesh and Brunei Darussalam in Bandar Seri Begawan, Nasrul Hamid, state minister of power, energy, and mineral resources, said that starting from 2023 Bangladesh will get 1-1.5 million tonnes of LNG from Brunei and this might be a 10-15 year agreement.

In the current context, it was discussed to import 210000 tonnes of diesel from Brunei on deferred payment. Before it was not possible to further import diesel from the Brunei-based supply company PB Trading Sendirian Berhad due to a condition that it must have its own refinery. A new Memorandum of understanding (MoU) was signed during Brunei’s Sultan’s visit to Dhaka for cooperation in the supply of LNG and other petroleum products.

The minister reports having a fruitful discussion to increase the area of cooperation and says that both nations have agreed to broaden the area of communication in the energy sector.

Source: The Financial Express

CEO confidence drops to an all-time low in H2 2022

The Conference Board Measure of CEO Confidence™ for Europe surveys corporate leaders and European Round Table (ERT) members. In its 11th edition, it revealed that the current level of confidence is the record lowest. One reason for the decreasing confidence is the rise the record high inflation. The aftereffects of the Ukraine-Russia war have made the CEOs and chairs in Europe pessimistic about the economy.

However, the equivalent surveys conducted in US and China showed that US-based CEOs confidence has also lowered, but the confidence “in China 34 in April to 47” in the present day.

Source: ERT

3. Science & Technology

Rolls Royce tests a hydrogen-powered jet engine

In the corner of a military space in a military site on Salisbury Plain, a small aircraft jet engine is being tested with hydrogen as its fuel which can lead to a major revolution in the aviation industry in the future.

The engine is made by renowned luxury car manufacturer Rolls Royce and is named Rolls-Royce-AE-2111A and is found in many mainstream airlines. However, this engine is now being tuned to run on hydrogen for the first time in this industry. Rolls Royce is partnering up with EasyJet for this project. The engine is strapped in a sturdy test chassis for ease of access and development.

For now, the aim of this project is to show that standard airplane engines can be run with hydrogen which in the longer term will play a major role in allowing the aviation industry to continue growing while cutting climate change emissions dramatically.

Source: BBC

4. Environment

South Africa turns to solar to help stop power cuts

South Africáhas frequent power cuts since 2008. This results from the old state-owned power grid, which is powered by coal, being unable to match the growing energy demand.

To generate more electricity and boost environmental credentials, the government is encouraging more solar power generation. They are encouraging the relevant sectors to tender contracts to carry forward this initiative. The government wants to generate an additional 1000 megawatts from solar power to disburse it among approximately one million homes. It is in addition to their wish to increase onshore wind power generation by 1600 megawatts.

Source: BBC


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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