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By- Tejas Maheta
When attempting to summarise the current performance and future portents for the South Asia economy, it's arguable that most of the region's nations are doing relatively well.
Malaysia offers a relevant case in point, as despite combatting Covid-19 whilst also dealing with a global oil price crash and political instability, the nation is poised to record economic growth of 0.5% by the end of 2020.
Sure, this is noticeably down on the initial 2002 forecast of 4.8% growth, but it needs to be considered against the backdrop of an unprecedented combination of socio-economic and geopolitical challenges.
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Similar trends have been reported in Vietnam and Hong Kong, the former of which has recorded no coronavirus deaths at all and remains one of the few nations on course to achieve economic growth this year. But which nations are really leading the recovery in this region, and what should we expect going forward?
Surviving Covid - Currencies and Stimulus Packages
Of course, one thing that unites these nations is the proactive rollout of generous stimulus and quantitative easing packages, with Malaysia having provided an RM295 billion injection into the economy.
Of this, an estimated 15% (approximately RM45 billion) is a direct fiscal injection in the government, with the remaining capital introduced in the form of slashing base interest rates and managing inflation.
Hong Kong has also introduced several rounds of quantitative easing measures since February, with April's iteration providing an HKD120 billion relief package and taking the total government stimulus investment to HKD290 (which equates to 9.5% of Hong Kong's gross domestic product).
In the case of both Malaysia and Hong Kong, these measures have also helped to boost the value of domestic currencies. The Hong Kong dollar rose for the fifth consecutive day last week, for example, while the HK Monetary Authority sold a further HK£3.72 billion of local currency and continued to boost their capital inflows as a result.
The Malaysian Ringgit has also performed relatively well against major currencies of late, although it faces additional challenges in the form of the recent global oil price decline.
So, although crude oil prices have recently rebounded slightly, Malaysia's currency value has been impacted by rising capital outflows and forced to trade within an increasingly narrowing range.
Common Ringgit notes Image source: wikimedia commons
A Look Ahead - What Can we Expect?
Asia was the region first affected by Covid-19, and therefore it stands to reason that its nations should have commenced their recovery quicker than those in Europe and the US.
Interestingly, the shoots of recovery may be green in more ways than one, with the Export-Import Bank of Korea leading the return of Asian green bonds in the primary financial market.
Also Read: Zimbabwe Ends Its Interim Currency
Of course, the idea of sustainable finance and investment has been a hot-button topic in Asia for a while now, while we've also seen a significant increase in demand for Green, Social and Sustainability (GSS) bonds in recent times.
This followed the introduction of a 700 million Euro green bond and Korea's pledge to achieve net zero carbon emissions by 2050 (following hot on the footsteps of the UK).
With these points in mind, there's clearly the potential for Asia to build on its relative strength and initial Covid-19 recovery by investing in sustainable assets and building a considerably greener future.
(Disclaimer: This article is sponsored and contains commercial links)
By- Steve Carty
Blockchain technology has proven over the years that it is here to stay, and one of the infrastructures that it houses is the Binance Smart Chain (BSC). The BSC has many benefits, like lower gas fees, and already has many tokens listed on it. This is why we believe the HUH Token is being created on such a secure and affordable platform.
Apart from affordability and security, the BSC also solves some of the associated problems with the other Blockchain networks. This includes scalability issues that arise during periods of elevated congestion. BSC also has Proof-of-Staked-Authority (POSA), which makes the process less energy-intensive, and faster.
To understand how the blocking technology works, understand the following:
The BSC works in line with the Binance Chain, and it is the network that the HUH Token will be listed on. The BSC network works using the Proof-of-Staked-Authority (POSA); this essentially means that people who work on validating the network usingsome BSC tokens to participate and are compensated with the fees from transactions. The BSC does not work with the BEP-2 and BEP-8; rather, it uses the much faster BEP-20. This architecture is related to ETH-20 Tokens, which implies that they can be easily swapped.
The BSC network has seen a surge in users and prices since it was first introduced. It has gained competitive capacity and become one of the most embraced systems, even rivaling Ethereum.
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The BSC network has seen a surge in users and prices since it was first introduced. | Pixabay
The New HUH Token to be on BSC
The HUH Token is having a lot of effort put into it by its developers. This was why the BSC network was adopted. It means that all the benefits listed – like faster transactions, cheaper gas fees, and easy movement of tokens even during congestions – will also be enjoyed by those who buy the HUH Token. With the growth of the BSC network, the Token will continuously evolve andimprove.
The HUH Token will be using a referral system that will revolutionize the wayan individual can make passive income. By sending out a referral link to friends and family,they can just sit at home wait for the rewards to arrive. We expect this to change the game and the way everyone views crypto.
ALSO READ: Interesting Facts About Crypto Portfolios
When they launch in 2 weeks,they will showcase to the world that the HUH Token willreward both holders and active referrers, and that the reward will be in BNB and in HUH redistribution.
Let's see what the coming days and weeks will bring.
Follow them on their Socials before they Launch:
(Disclaimer: This article is sponsored and include some commercial links)
By Prerana Agarwal Saxena
In all the wedding excitement, it's easy to overlook the impact a wedding has on the environment. While everyone is making their big fat Indian wedding dreams come true, they are also adding their carbon footprint and undue energy consumption. Modern couples are now looking for ways to have a wedding with a sustainably conscious mindset. It's become about incorporating less waste, locally sourced and seasonal food, natural materials over the use of plastic. Mindful wedding planning and decor includes the use of recycled paper and goods along with eco-friendly venue needs. Check out this quick guide to achieve a sustainably conscious wedding without compromising on luxury:
Choose locally sourced material to uplift artisans
Sustainable can be luxurious too, incorporate some native flavour into the decor and theme. With the use of locally sourced materials and local artisans coming into play, the wedding instantly becomes sustainable. Include the work of local vendors ensure minimal packaging requirements, thus saving on unnecessary plastic and lamination. It also decreases the need for transporting elements from other cities and hence lowers the carbon footprint. For instance, at one of our weddings, we made use of sand art for a setup in Jodhpur. This helped promote local work while also being environmentally friendly with zero wastage of other materials. In another instance from Rajasthan, the traditional glass-blown technique was used to build decor items while giving a cultural touch to the destination wedding.
Sustainable can be luxurious too, incorporate some native flavour into the decor and theme. | Photo by Jason Coudriet on Unsplash
Say yes to recycling
One should be mindful and avoid the use of plastic and other non-recyclable materials in decor wherever possible. It can be a small step such as making a conscious switch from plastic water bottles to copper jugs or glass bottles. Also use artificial floral decor thus minimising the wastage produced from real flowers. This recyclable decor is then donated to various NGOs, further ensuring sustainable use of resources. Such steps, however small they might be, keep the environment free from the release of any additional carbon footprint.
One should be mindful and avoid the use of plastic and other non-recyclable materials in decor wherever possible. | Photo by Ravin Rau on Unsplash
Go for zero-waste wedding decor
Make use of fabric as it enhances the elegance of the wedding while being sustainable. Include vibrant colours apt to the theme of the wedding and bring in bright sprightliness with breathable fabrics. Ensure to include LED lights for lighting. They can be incorporated as string lights or be used on passageways with innovative decor items. They also help conserve energy and bring in soulful energy for nighttime decor. Choose virtual invitations, keeping up with the digital times. Make a conscious choice of plated dinner menus rather than a buffet as they allow less wastage of food and ensure enough food for guests in attendance.
LEDs can be incorporated as string lights or be used on passageways with innovative decor items. | Photo by Annie Spratt on Unsplash
Include Sustainable Gifting
Gift sustainable wedding favours -- gifts that grow. Offering a plant or a succulent, is a great idea. One can also gift recycled organic fabrics and cutlery or zero-waste kitchen and bathroom essentials to use in their homes as some distinct gifting options.
Gift sustainable wedding favours -- gifts that grow. | Photo by Kira auf der Heide on Unsplash
Acting in the best interest of the environment and the society, Theme Weavers Designs has started a social cause, Weaving Hope, where a part of their earnings along with food and decor are donated to social communities. Royal Rendezvous, is an event started by us to put India on the Global Map, inviting international wedding planners to India to experience the rich culture and heritage, also employing and displaying the work of local artisans to this international audience.
By applying the values of sustainability, you can reduce the energy consumed and the resources used as much as possible. Go ahead and have a luxurious zero-waste wedding and navigate into the world of green living! (IANS/ MBI)
Keywords: Luxurious , Gift, sustainable, wedding favours, gifts that grow. Gifting, recycling, locally sourced, material. zero-waste
The Tamil Nadu health department has administered 16,43,879 lakh doses of vaccine in the second mega vaccination camp organised by it. The state public health department in a statement on Sunday said that this has taken the total vaccination to one crore since the beginning of September till date. The vaccination was administered from 7 a.m. till 7 p.m. and the compiled data was made available late at night.
The health department officials also said that as the state has almost exhausted its quota of vaccines, there would not be any vaccines on Monday. Regular vaccination will resume after the vaccine supplies arrive from New Delhi, officials said. The state health department had expected to vaccinate 15 lakh people on Sunday in 18,824 centres spread across primary health centres, anganwadis, noon meal centres, government hospitals, schools and some auditoriums.
The health department officials also said that as the state has almost exhausted its quota of vaccines, there would not be any vaccines on Monday. | Photo by Mat Napo on Unsplash
Of the 16,43,879 people who were inoculated, a total of 10,85,097 received their first dose and 5,58,782 their second dose of vaccine, the statement said, A total of 9,66,568 people in the age group of 18-44 were vaccinated on Sunday and vaccines were administered on 5,02,578 people aged between 45- 59 in the mega vaccine camps.
State health minister Ma Subramanian, who inaugurated the vaccination at Pollachi, also visited the centres in six districts -- Coimbatore, Erode, Namakkal, Tiruppur, Dharmapuri and Salem. The state government, according to the health minister, is to receive the next allotment of vaccines on September 21. Minister while speaking to IANS said, "We will be receiving the next allotment of vaccines on September 21 itself and we will resume vaccinations immediately. The state has already touched one crore vaccine-mark in the month of September till date." (IANS/MBI)
Keywords: COVID, vaccine, vaccination camp, Tamil Nadu, India, vaccinated, mega camp