Accelerate growth meaning

2020 was a record year for the global wind power industry, but a new report published by GWEC warns that the world needs to install new wind power capacity three times faster over the next decade to achieve global climate targets. BRUSSELS , March 25, 2021 /PRNewswire/ -- 2020 was the best year in history for the global wind industry with 93 GW of new capacity installed – a 53 per cent year-on-year increase - but a new report published by the Global Wind Energy Council (GWEC) warns that this growth is not sufficient to ensure the world achieves net zero by 2050. According to the Global Wind Report 2021, GWEC's 16 th annual flagship report, the world needs to be installing wind power three times faster over the next decade in order to stay on a net zero pathway and avoid the worst impacts of climate change. Through technology innovations and economies of scale, the global wind power market has nearly quadrupled in size over the past decade and established itself as one of the ... » Learn More about GWEC: Global wind power growth must triple over next decade to achieve Net Zero

SINGAPORE - Even as the United States and China compete strategically, the two major powers must find a way to manage tensions and develop a framework for cooperation, said Deputy Prime Minister Heng Swee Keat. Speaking at the Credit Suisse Asian Investment Conference on the topic "Will Asia emerge stronger in a post-Covid-19 world?" on Monday (March 22), Mr Heng said a stable US-China relationship is important to the global commons. While the Biden administration will bring a more predictable approach to the world's most critical bilateral relationship, the US and China will continue to be strategic competitors, he said. "I am glad that both sides have acknowledged that there are areas that they could work together on, despite the competitive tenor of their relationship." He called the first high-level, face-to-face meeting between both countries under the Biden presidency last week "a step in the right direction". At the start of what Washington called "tough and direct" ... » Learn More about Asean should focus on own interests if US-China tensions escalate: DPM Heng

REUTERS: The S&P 500 and the Dow dropped on Friday with banks leading the way after the U.S. Federal Reserve said it would not extend a temporary capital buffer relief put in place to ease a pandemic-driven stress in the funding market. The S&P 500 bank stocks shed about 3per cent as the Fed's move means banks will have to resume holding an extra layer of loss-absorbing capital against U.S. Treasuries and central bank deposits from next month. "Banks have had such a significant up move this year and this news has only acted as a catalyst for profit taking," said Art Hogan, chief market strategist at National Securities in New York. "It's one of those days when we see a great deal of volume and volatility and we might see things change back on Monday." Market trading volumes and liquidity are expected to rise on Friday due to "quadruple witching," the quarterly simultaneous expiration of U.S. options and futures contracts. Yield on U.S. 10-year notes, which has ... » Learn More about Dow, S&P 500 dragged lower by bank stocks

Since pre-industrial times, human activities have contributed to 1°C of global warming and the consequences towards people, nature and livelihoods are already apparent. “At the current rate, we will reach 1.5°C in the very near future, between 2030 and 2052," says Intergovernmental Panel on Climate Change (IPCC) Working Group II vice chair Dr Joy Jacqueline Pereira who was speaking at the “Climate Change: Challenges for Asian Nations” media webinar jointly organised by China Daily, University of International Business and Economics, Shanghai International Studies University, and Asia News Network. Intergovernmental Panel on Climate Change (IPCC) Working Group II vice chair Dr Joy Jacqueline Pereira. Photo: Dr Joy Pereira The difference of 0.5°C between 1.5°C or 2.0°C may seem small but its impact is great and can lead to serious implications on the lives of several hundred million people, according to Pereira. Increased temperatures and drought leading to water shortages, ... » Learn More about Every bit, every year, every choice we make matters, say climate change experts

The stock market fell sharply last week as the number of daily new covid-19 cases jumped to more than 5,000. The market reacted negatively as the sharp rise in infections will lead to the tightening of restriction and negatively affect consumer confidence, hurting the Philippines’ economic outlook. I admit that I did not think we would see a steep rise in infections since we made it past the holiday season without a spike in the numbers of cases. However, the latest surge might be due to several factors including the presence of new variants, which are said to be more transmissible and the relaxation of some quarantine restrictions. Coupled with the steep rise of inflation, the Philippine stock market has decoupled from the rest of Asia and is now the region’s worst performing market in 2021. As of last Friday, the Philippine Stock Exchange index (PSEi) was down by 9.85 percent for the year-to-date period, while the MSCI AC Asia Pacific index was higher by 4.3 percent. Although ... » Learn More about Will stocks retest 2020 low?

E-commerce firm Shopee’s rise in Southeast Asia over the past five years has been rapid, to say the least. The mobile commerce platform, owned by Singapore -based tech behemoth Sea Group, had the most-downloaded shopping app last year in the region’s six biggest markets – Indonesia, Malaysia , Thailand, Vietnam, the Philippines, and Singapore – according to app tracker App Annie. It recorded an average of 90 million monthly website visits last year in Indonesia , Southeast Asia’s largest economy. “Shopee’s growth has been impressive. The company is supported by the stability and capital from Sea, making it possible to push its marketing to a new height,” said Chandra Tjan, co-founder and general partner at Jakarta-based Alpha JWC Ventures, noting how the company had tapped superstars such as K-pop group Blackpink and footballer Cristiano Ronaldo as brand ambassadors, and drew customers in through gamified features on the app and discounts. But this success has not gone ... » Learn More about As Shopee succeeds in Southeast Asia, rivals such as Tokopedia are heating up the competition

(Reuters) - ByteDance said on Monday its video games unit Nuverse has agreed to acquire Shanghai-based Mooton Technology, as it seeks to further expand into the video games business. The acquisition of the video games studio come as ByteDance, the owner of TikTok and the similar Chinese short video platform Douyin, has made sizeable inroads into the video games business, putting it in direct competition with China's Tencent. "Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse's global gaming offerings," ByteDance said in a statement. In an internal memo, Yuan Jing, CEO of Mooton, said the company would operate independently from ByteDance after the acquisition, a source told Reuters on condition of anonymity as he is not authorized to speak to the press. Mooton Technology, founded by an ex-Tencent employee, is most famous in Southeast Asia for its multiplayer ... » Learn More about ByteDance says its video games unit will acquire Mooton Technology

MILAN: Small Italian car filter supplier Ecofiltri took out a state-backed loan last year, just like thousands of other businesses fighting to keep afloat during the COVID-19 pandemic. But instead of burning through the cash to pay overdue rent and bills, Ecofiltri is investing the money on a technological revamp of its business. Already facing a longer-term switch to electric transport, the company was spurred to act after the coronavirus crisis cut the number of drivers on the road. "We've expanded our facilities, bought high-tech equipment and even created an R&D department where we are working on three projects we hope we can patent to provide more intelligent products and services," Ecofiltri co-founder Simone Scafetta told Reuters over a video call. Italy ranked fourth to last in the EU for digital competitiveness in 2019, according to the Digital Economy and Society Index (DESI). By forcing a huge technological acceleration on the country, the pandemic is offering ... » Learn More about COVID-19 pandemic leaves Italy scrambling to catch up digitally

ByteDance said on Monday (March 22)  its video games unit Nuverse has agreed to acquire Shanghai-based gaming studio Moonton Technology, as it seeks to further expand into the video games business. The deal values the gaming studio at around $4 billion (S$5 billion), two sources told Reuters. The acquisition of the video games studio come as ByteDance, the owner of TikTok and the similar Chinese short video platform Douyin, has made sizeable inroads into the video games business, putting it in direct competition with China’s Tencent. “Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse’s global gaming offerings,” ByteDance said in a statement, declining to comment on the size of the acquisition. In an internal memo, Yuan Jing, CEO of Moonton, said the company would operate independently from ByteDance after the acquisition, a source told Reuters on condition of ... » Learn More about ByteDance says its video games unit will acquire Mobile Legends’ Mooton Technology

ByteDance said on Monday (March 22) its video games unit Nuverse has agreed to acquire Shanghai-based gaming studio Moonton Technology, as it seeks to further expand into the video games business. The deal values the gaming studio at around $4 billion (S$5 billion), two sources told Reuters. The acquisition of the video games studio come as ByteDance, the owner of TikTok and the similar Chinese short video platform Douyin, has made sizeable inroads into the video games business, putting it in direct competition with China’s Tencent. “Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse’s global gaming offerings,” ByteDance said in a statement, declining to comment on the size of the acquisition. In an internal memo, Yuan Jing, CEO of Moonton, said the company would operate independently from ByteDance after the acquisition, a source told Reuters on condition of ... » Learn More about ByteDance says its video games unit will acquire Mobile Legends’ Moonton Technology