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On August 17th, Takehiko Nakao, former Japanese Finance Minister and President of the Asian Development Bank, stated that the Bank of Japan should raise interest rates at every policy meeting, aiming to elevate the benchmark rate to above 2% to narrow the interest rate differential between Japan and the US and alleviate pressure on the yens depreciation. He noted that even with Japans policy rate already at 1%, its real interest rate remains negative, while other countries have positive real interest rates. He believes that with inflation around 2%, a policy rate of 2.25% or 2.5% in Japan would not be uncommon.On August 17th, according to Tianyancha App, Kunming Beiye Data Technology Co., Ltd. was recently established. The legal representative is Qiu Jinghao, with a registered capital of 700 million RMB. It is a limited liability company (wholly foreign-owned), currently in operation, and its registered address is located in the Digital Economy Industrial Park, Enclosed Area of the Mohan-Boten Cooperation Zone. The companys business scope includes software development, information system integration services, information technology consulting services, and retail of computer hardware, software, and auxiliary equipment. Shareholder information shows that Beijing Zitiao Network Technology Co., Ltd. holds 100% of the companys shares, with a subscribed capital of 700 million RMB.Japanese power company J-Power: It will build a data center in Kaminokuni, Hokkaido, and will begin selling its GPU data center computing power in the summer of 2027.August 17th - According to the National Forestry and Grassland Administration, since the launch of the Three-North Shelterbelt Projects critical phase, the National Forestry and Grassland Administration, together with local governments and departments, has adhered to a systematic approach and scientific methods, allocating a total of 88.9 billion yuan in central government investment and implementing 544 key projects. The average annual construction area completed has exceeded 80 million mu (approximately 5.3 million hectares), making this the period with the greatest progress and best results in the projects history. Ecological benefits are gradually emerging, with the forest and grassland coverage rate in the project area reaching 40.76%, and the treatment rate of manageable desertified land reaching 67.82%, representing increases of 1.13 and 12.78 percentage points respectively compared to 2020. The main mid-term goals of the sixth phase of the Three-North Shelterbelt Project have been fully achieved.The New Taiwan dollar rose to 31.874 against the US dollar, a new high since July 2.

Ukraine Will Block A Crucial Russian Gas Transit to Europe, Blaming Russia

Charlie Brooks

May 11, 2022 09:46

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Ukraine said on Tuesday that it will cease the flow of gas via a transit point that, according to Kiev, sends over one-third of the fuel piped from Russia to Europe through Ukraine. Kiev blamed Moscow for the action and said it would redirect the flows elsewhere.


Even after Moscow's invasion, Ukraine has remained a significant transit route for Russian gas to Europe.


The operator of Ukraine's gas infrastructure, GTSOU, has declared "force majeure" and will cease shipments through the Sokhranivka route as of Wednesday. "Force majeure" is a provision triggered when a firm is affected by circumstances beyond its control.


However, Gazprom (MCX:GAZP), which has a monopoly on Russian gas pipeline exports, said that it was "technologically impossible" to move all volumes to the Sudzha connecting point farther to the west, as GTSOU requested.


GTSOU CEO Sergiy Makogon told Reuters that Russian occupation troops have begun transporting gas flowing through Ukraine to two rebel territories supported by Russia in the country's east. He failed to provide proof.


The company stated that it was unable to operate at the Novopskov gas compressor station due to "the interference of the occupying forces in technical processes," adding that it could temporarily redirect the affected flow to the Sudzha physical interconnection point, which is located on Ukrainian territory.


Ukraine's suspension of Russian natural gas shipments via the Sokhranivka route should have no effect on the local Ukrainian market, according to Yuriy Vitrenko, the president of the state-owned energy business Naftogaz.


The national gas company of Moldova, a tiny country on Ukraine's western border, said that neither GTSOU nor Gazprom had notified them of a supply interruption.


Russian army and separatist militants have controlled the Novopskov compressor station in the Luhansk area of eastern Ukraine since shortly after Moscow launched a "special military operation" in February.


GTSOU said that it is the first compressor in the Ukraine gas transit system in the Luhansk area, the transit route for about 32,6 million cubic metres of gas per day, or a third of the Russian gas transported to Europe through Ukraine.


To fulfill its "transit responsibilities to European partners in full," GTSOU said that it will "temporarily move unavailable capacity" to the Sudzha interconnection point.


Gazprom said it had received information from Ukraine that the nation will cease gas transit to Europe through the Sokhranivka interconnector at 7:00 a.m. on Wednesday local time.


The Russian corporation said that it observed no evidence of force majeure or impediments to business as usual. Gazprom emphasized that it was fulfilling its commitments to European gas purchasers.


As punishment for the invasion of Ukraine, the United States has pushed other nations to reduce their reliance on Russian energy and has prohibited Russian oil and other energy imports.


Ned Price, a spokeswoman for the U.S. State Department, said that Tuesday's declaration does not alter the "as soon as feasible" schedule for reducing global dependency on Russian oil.

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