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HAPPENING THIS WEEK
Asia-Pacific Economic Cooperation Meetings: On Saturday, U.S. Senior Official for Asia-Pacific Economic Cooperation (APEC) is visiting New Zealand and Australia attending APEC Business Advisory Council (ABAC). APEC Senior Officials’ Meeting is in Palm Springs, California, from February 23-28, the first of four scheduled for this year (Department of State). US-India Meetings on Energy Cooperation: Assistant Secretary of State for Energy Resources will be in India on a clean energy and energy security four-day mission visiting Mumbai, Pune, and New Delhi. The U.S. is in collaboration with India on energy issues, especially during India’s G-20 presidency this year. (Department of State, Reuters). The 61st Session of the Commission for Social Development continues. This year, the CSocD61 will focus on “Creating full and productive employment and decent work for all as a way of overcoming inequalities to accelerate the recovery from the COVID-19 pandemic and the full implementation of the 2030 Agenda for Sustainable Development”. Organized by the UN Department of Economic and Social Affairs (DESA), the Commission will continue until February 15. Gartner Security & Risk Management Summit (Gartner SRM) Mumbai, India. World Government Summit (WGS) Dubai, UAE.
European Parliament CO2 emission standards for cars and vans 2021/0197(COD) Report: Jan Huitema ( A9-0150/2022 ). Parliament is expected to give its green light to the introduction of zero CO2 emissions rules for new passenger cars and light commercial vehicles in 2035, part of the “Fit for 55” package. The new law also includes a new methodology for assessing CO2 emissions throughout the full life-cycle of a vehicle. European Parliament REPowerEU chapters in recovery and resilience plans 2022/0164(COD) Report: Siegfried Mureşan, Eider Gardiazabal Rubial, Dragoş Pîslaru ( A9-0260/2022 ). Global Science, Technology and Innovation Conference (G-STIC) 2023 aims to accelerate the development, dissemination, and deployment of technology innovations that enable the achievement of the SDGs. The G-STIC Rio Conference themes will focus on accelerating technological solutions for six societal challenges – climate, education, energy, health, oceans, and water. The event is hosted by the Sustainable Development Solutions Network (SDSN), The Energy and Resources Institute (TERI), Fiocruz, and partners. 13-15 February 2023 Rio de Janeiro, Brazil https://www.gstic.org/rio/ Government Workplace & Technology Summit ACT, Canberra, Australia.
U.S. Senate Committee on the Budget Meeting: Hearings to examine climate-related economic risks and their costs to the Federal budget and the global economy Meeting Details. European Parliament Joint Undertakings under Horizon Europe: EU Chips ACT Joint Undertaking 2022/0033(NLE) Report: Eva Maydell ( A9-0012/2023 ). European Parliament Access to strategic critical raw materials 2023/2531(RSP) . Green Deal Industrial Plan/New EU industrial strategy: on Wednesday, MEPs will comment on the new proposal for a Green Deal Industrial Plan for the net-zero age to stimulate the development of clean technology in the EU and secure EU strategic autonomy in a debate with Commission President von der Leyen. MEPs will vote on a resolution on an EU strategy to boost industrial competitiveness, trade and quality jobs on Thursday.
U.S. Senate Committee on Health, Education, Labor, and Pensions Meeting: Hearings to examine health care workforce shortages Meeting Details. European Parliament An EU strategy to boost industrial competitiveness, trade and quality jobs 2023/2513(RSP)
A slow day in politics.
SATURDAY & SUNDAY
A quiet weekend in politics.
GLOBAL ECONOMIC PULSE
Bank of England will set new rates based on unemployment, retail sales and inflation in UK. Eurozone will release industrial production. German inflation hit a five-month low. Interest rates by national banks are due from Indonesia (currently at 5.75%), Philippines (currently at 5.0%) and Uruguay (currently at 11.5%). U.S. Consumer Price Index is released on Tuesday. Consumer Price Index from Argentina, India, Israel, Nigeria, Poland and Saudi Arabia will be reported this week. The catastrophic earthquake in Turkey could have significant implications. GDP from both Japan and Singapore will be reported. S&P Global Market Intelligence reports that it’s PMI surveys brought encouraging news of a stabilization of the global economy in January, calming recession worries in the US and, in particular, in Europe. Even better news came from the global PMI’s future output index, which monitors companies’ expectations of their own business activity levels in the coming year. This S&P index jumped to an eight-month high. The improvement had the noteworthy effect of pulling confidence above its long-run average for the first time since last May and is consistent with global activity growth accelerating as we head through the first quarter. The report suggests sentiment was lifted in the US and Europe in part by the anticipation of improved global demand and supply emanating from the relaxation of COVID-19 restrictions in mainland China, which also pushed future output expectations in mainland China itself to the joint-highest for a decade, matched by a similar high in Hong Kong SAR. Signs of a peaking of inflation also helped boost S&P measured sentiment worldwide. As for the inflation outlook, S&P survey data in the coming months need to be watched for the impact of mainland China’s re-opening. On one hand, the return to business as normal bodes well for a further alleviation of global supply chain pressures and could even lead to discounting. On the other hand, reviving demand in mainland China could fuel higher inflation, especially for commodities.
Earnings Reports This Week: Tokio Marine, NTTYY, Coca Cola, Softbank, Airbnb, America Movil, Marriott, Suncor, TC Energy, Ecolab, Excelon, Devon Energy, GlobalFoundries, Cisco, Analogue Devices, Air Liquide, Heineken, Kraft Heinz, AIG, AP Moller-Maersk, Biogen, Nestle, Applied Materials, Airbus, Allianz, Schneider Electric, CaixaBank, Orange, Grupo Financiero Banorte, HubSpot, China Construction Bank, Deere, Eni, Electricite de France, CenterPoint Energy, RENAULT
NOTEWORTHY REGULATIONS, LEGISLATION, DECISIONS & REPORTS
The Energy Futures Initiative advances technically grounded solutions to climate change through evidence-based analysis, thought leadership, and coalition-building. It has published a report titled Energy Futures Initiative “U.S. Hydrogen Demand Action Plan,” February 2023
A paper has been published on Property Rights Regimes, Technological Innovation, and Foreign Direct Investment. For investors in other countries it is an insightful retrospective.
The Conference Board published From Crisis to Opportunity, Corporate Citizenship and Philanthropy in 2023. Corporate giving programs may find this interesting.
Organization for Economic Co-operation and Development published a report titled: Government Support in Industrial Sectors. U.S., Eu and Asian countries are now cofounding their most prominent sectors rather than leave it to market forces. This study sheds light on their strategies.
The Centre for Policy Studies is one of the oldest and most influential think tanks in Westminster, has published a report titled: Cashing in our Chips, How to strengthen the UK’s semiconductor sector
The Pakistan Business Council has published a report titled MINIMUM CONSENSUS ON KEY ECONOMIC REFORMS
A collaboration led by Stephen M Smith (University of Oxford), Oliver Geden (German Institute for International and Security Affairs, SWP), Jan C Minx (Mercator Research Institute on Global Commons and Climate Change, MCC) and Gregory F Nemet (University of Wisconsin-Madison) has led to the publication of a global, independent scientific assessment of Carbon Dioxide Removal: The State of Carbon Dioxide Removal
The U.S. State Department’s The Minerals Security Partnership (MSP) strives to promote responsible growth across the critical minerals sector via a shared commitment to high environmental, social, and governance (ESG) standards; sustainability; and shared prosperity. The principles are outlined in this document.
Ernst & Young has published its EY Monthly Global Trade Update.
A state-by-state list of ESG Disclosure Compliance bills introduced in United States has been published.
A report on the Global Transportation Market has been published.
Congressional Research Service published U.S. Trade Policy: Future Direction and Key Economic Debates
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