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June 16 – A press conference for the 17th Annual Meeting of the New Champions of the World Economic Forum, also known as the Summer Davos Forum, will be held in Beijing today. The 2026 Summer Davos Forum is scheduled to be held in Dalian, Liaoning Province, from June 23 to 25. Participants come from more than 90 countries and regions worldwide, with total registered participants exceeding 1,700, setting a new record. The forum, themed "Innovation at Scale," will focus on a series of topics related to global innovation trends and industrial transformation and upgrading, gathering wisdom from various sectors to inject momentum into promoting global economic recovery and sustained growth.On June 16th, Li Auto (02015.HK) held its Livis Day software and embodied intelligence launch event in Beijing. Li Auto officially proposed a complete definition of an embodied intelligent vehicle: an intelligent agent possessing the capabilities of an electric vehicle, a professional driver, an AI computer, and a life assistant. Based on this definition, the event systematically showcased the next-generation Li Space interactive experience, its self-developed embodied intelligence model, the worlds first dynamic dataflow AI chip, Mach M100, embodied intelligence products and experiences, and released OTA growth milestones covering the entire year. Li Xiang, Chairman and CEO of Li Auto, stated that Li Autos self-developed Mach M100 chip will achieve mass production and deployment in vehicles in May 2026, becoming the worlds first mass-produced dynamic dataflow AI chip. With the mass production and deployment of the Mach M100, Li Auto has achieved full-stack self-development of chips, compilers, operating systems, AI algorithms, and domain controllers.1. Interest Rate Adjustment – The market widely expects the Bank of Japan to raise interest rates by 25 basis points to 1%, the highest level in 31 years. The Bank of Japans last rate hike will be in December 2025. 2. Voting Participation – The governor was absent due to illness, and only 8 people voted at this meeting. In the event of a 4-4 tie, Deputy Governor Ryozo Himino, who chaired the meeting, will have the decisive vote. 3. Voting Ratio – The market widely expects all voting members to support the rate hike; however, Toshiro Asada, who holds a reflationary stance, may not support the rate hike, and some may propose a 50 basis point increase. 4. Forward Guidance – The market is focused on whether the Bank of Japan will adjust its forward guidance. The current wording is "Given that real interest rates are at a significantly low level, the central bank will continue to raise interest rates and adjust the degree of monetary easing." 5. Cessation of QT – Japanese media reports that the Bank of Japan will announce that it will stop reducing the monthly bond purchase program starting next April. This move may be seen as a "political deal with the government" and will affect the Bank of Japans independence. 6. Press Conference – The Bank of Japan Governor was absent due to illness, and Deputy Governor Shinichi Uchida held a press conference on his behalf. The market is focused on whether Uchida will hint at a possible second consecutive interest rate hike in July and his views on bond-buying policy.Chinas May industrial value-added and total retail sales of consumer goods year-on-year figures will be released in ten minutes.On June 16th, it was reported that the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.4500%, and the lowest was 0.7030%; the highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0230%, and the lowest was 1.0000%; and the highest 7-day annualized yield of Alipays "Yuebao" was 1.0210%, and the lowest was 1.0000%.

In Colombia, natural gas consumption has outpaced production

Charlie Brooks

Jun 28, 2022 11:31


According to our most recent Colombia Country Analysis Brief, Colombia imported 14,2 billion cubic feet (Bcf) of natural gas to help meet its natural gas demand for electricity in 2020, when a drop in hydroelectric power was caused by drought.


In 2020, hydroelectricity will contribute to around 65% of Colombia's electrical generation, down from nearly 80% in earlier years. Since hydropower is Colombia's principal energy source, droughts may have a significant effect on the country's electrical producing mix.


The bulk of natural gas used in Colombia is produced domestically and employed to create electricity. In recent years, imports have progressively bridged the gap between domestic natural gas production and domestic demand. In 2020, Colombia produced 399 Bcf of dry natural gas, while domestic consumption was 413 Bcf.


Concerns over the reliability of the nation's electricity supply prompted the Colombian government to approve the Sociedad Portuaria El Cayao (SPEC) LNG import plant in November 2014. The facility started operations in November 2016. The administration has since proposed the Pacific Regasification LNG terminal as the nation's second LNG import plant.


EPM is currently developing the new hydroelectric dam project Ituango. The first of eight 300-megawatt generating units will commence operating in the second part of 2022. The whole project will have a capacity of 2.4 gigawatts when it is finished in 2025. If completed, the Ituango project would be the largest hydroelectric power plant in Colombia in terms of generating capacity. In 2020, the installed electrical production capacity of Colombia was 17 gigawatts.

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