East Asia could stabilise emissions by 2025: WB BEIJING : The World Bank said on Monday that East Asia could stabilise its greenhouse gas emissions by 2025 while maintaining economic growth by investing in energy efficiency and low-carbon technologies. Achieving the target would require the region's biggest energy guzzlers to invest an extra 80 billion dollars a year to make power, industry and transport sectors more efficient and develop renewable energy, the World Bank said. Success also depends on the region finding the political will for big changes as well as transfers of financing and technologies from developed countries, the Washington-based lender said in a regional energy report. "Major investments in energy efficiency and a concerted switch to renewable sources of power... could simultaneously stabilise greenhouse gas emissions, increase energy security while improving local environments," the report said. But the World Bank warned time was running out and urged policymakers in energy-hungry China, Indonesia, Malaysia, the Philippines, Thailand and Vietnam to act quickly. "While many East Asian countries are taking steps in these directions, accelerating the speed and scaling up the efforts are needed to get on to a sustainable energy path," it said.
3. Euro falls on risk aversion after Goldman Sachs charges TOKYO : The euro tumbled against other major currencies in Asia on on Monday as investors shunned risk amid concerns about fraud charges against Goldman Sachs, dealers said.
The euro fell to 1.3467 dollars in Tokyo late morning trade from 1.3504 dollars in New York late Friday, and to 124.07 yen from 124.42 yen.
The dollar, which soared on Friday as investors fled to the safe-haven unit, was quoted at 92.13 yen, a shade lower than the 92.17 yen in New York, as investors consider the Japanese currency even safer than the greenback.
"Investors want to reduce risks as they do not know how the Goldman Sachs case will develop," said Hideaki Inoue, senior dealer at Mitsubishi UFJ Trust and Banking Corp.
The case "has brought possible tightening of financial regulation into focus again," he said, adding that market players had earlier opted for risk-taking on the back of signs of a recovering global economy.
Financial markets were rattled Friday when the US Securities and Exchange Commission charged top investment firm Goldman Sachs with fraud over the sale of a complex mortgage product like those blamed for the financial meltdown.
The US watchdog accused Goldman Sachs of "defrauding investors by misstating and omitting key facts" about the product that was based on subprime mortgage-backed securities.
Inoue also said market players were closely watching a possible bailout by the International Monetary Fund for debt-ridden Greece, and any move by China on its currency.
The SEC said Goldman failed to tell investors that a major hedge fund had helped put together the controversial financial product known as collateralised debt obligation (CDO) and was at the same time betting against it.
Paulson & Co, one of the world's largest hedge funds, paid Goldman Sachs to structure a transaction in which it could take speculative positions against mortgage securities chosen by the fund, the commission said in a statement. The news hit sentiment on concerns the US Securities and Exchange Commission conduct a wider crackdown on those that bet on the collapse of the housing market.
East Asia could stabilise emissions by 2025: WB BEIJING : The World Bank said on Monday that East Asia could stabilise its greenhouse gas emissions by 2025 while maintaining economic growth by investing in energy efficiency and low-carbon technologies. Achieving the target would require the region's biggest energy guzzlers to invest an extra 80 billion dollars a year to make power, industry and transport sectors more efficient and develop renewable energy, the World Bank said. Success also depends on the region finding the political will for big changes as well as transfers of financing and technologies from developed countries, the Washington-based lender said in a regional energy report. "Major investments in energy efficiency and a concerted switch to renewable sources of power... could simultaneously stabilise greenhouse gas emissions, increase energy security while improving local environments," the report said. But the World Bank warned time was running out and urged policymakers in energy-hungry China, Indonesia, Malaysia, the Philippines, Thailand and Vietnam to act quickly. "While many East Asian countries are taking steps in these directions, accelerating the speed and scaling up the efforts are needed to get on to a sustainable energy path," it said.
3. Euro falls on risk aversion after Goldman Sachs charges TOKYO : The euro tumbled against other major currencies in Asia on on Monday as investors shunned risk amid concerns about fraud charges against Goldman Sachs, dealers said.
The euro fell to 1.3467 dollars in Tokyo late morning trade from 1.3504 dollars in New York late Friday, and to 124.07 yen from 124.42 yen.
The dollar, which soared on Friday as investors fled to the safe-haven unit, was quoted at 92.13 yen, a shade lower than the 92.17 yen in New York, as investors consider the Japanese currency even safer than the greenback.
"Investors want to reduce risks as they do not know how the Goldman Sachs case will develop," said Hideaki Inoue, senior dealer at Mitsubishi UFJ Trust and Banking Corp.
The case "has brought possible tightening of financial regulation into focus again," he said, adding that market players had earlier opted for risk-taking on the back of signs of a recovering global economy.
Financial markets were rattled Friday when the US Securities and Exchange Commission charged top investment firm Goldman Sachs with fraud over the sale of a complex mortgage product like those blamed for the financial meltdown.
The US watchdog accused Goldman Sachs of "defrauding investors by misstating and omitting key facts" about the product that was based on subprime mortgage-backed securities.
Inoue also said market players were closely watching a possible bailout by the International Monetary Fund for debt-ridden Greece, and any move by China on its currency.
The SEC said Goldman failed to tell investors that a major hedge fund had helped put together the controversial financial product known as collateralised debt obligation (CDO) and was at the same time betting against it.
Paulson & Co, one of the world's largest hedge funds, paid Goldman Sachs to structure a transaction in which it could take speculative positions against mortgage securities chosen by the fund, the commission said in a statement. The news hit sentiment on concerns the US Securities and Exchange Commission conduct a wider crackdown on those that bet on the collapse of the housing market.
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East Asia could stabilise emissions by 2025: WB BEIJING : The World Bank said on Monday that East Asia could stabilise its greenhouse gas emissions by 2025 while maintaining economic growth by investing in energy efficiency and low-carbon technologies. Achieving the target would require the region's biggest energy guzzlers to invest an extra 80 billion dollars a year to make power, industry and transport sectors more efficient and develop renewable energy, the World Bank said. Success also depends on the region finding the political will for big changes as well as transfers of financing and technologies from developed countries, the Washington-based lender said in a regional energy report. "Major investments in energy efficiency and a concerted switch to renewable sources of power... could simultaneously stabilise greenhouse gas emissions, increase energy security while improving local environments," the report said. But the World Bank warned time was running out and urged policymakers in energy-hungry China, Indonesia, Malaysia, the Philippines, Thailand and Vietnam to act quickly. "While many East Asian countries are taking steps in these directions, accelerating the speed and scaling up the efforts are needed to get on to a sustainable energy path," it said.
3. Euro falls on risk aversion after Goldman Sachs charges TOKYO : The euro tumbled against other major currencies in Asia on on Monday as investors shunned risk amid concerns about fraud charges against Goldman Sachs, dealers said.
The euro fell to 1.3467 dollars in Tokyo late morning trade from 1.3504 dollars in New York late Friday, and to 124.07 yen from 124.42 yen.
The dollar, which soared on Friday as investors fled to the safe-haven unit, was quoted at 92.13 yen, a shade lower than the 92.17 yen in New York, as investors consider the Japanese currency even safer than the greenback.
"Investors want to reduce risks as they do not know how the Goldman Sachs case will develop," said Hideaki Inoue, senior dealer at Mitsubishi UFJ Trust and Banking Corp.
The case "has brought possible tightening of financial regulation into focus again," he said, adding that market players had earlier opted for risk-taking on the back of signs of a recovering global economy.
Financial markets were rattled Friday when the US Securities and Exchange Commission charged top investment firm Goldman Sachs with fraud over the sale of a complex mortgage product like those blamed for the financial meltdown.
The US watchdog accused Goldman Sachs of "defrauding investors by misstating and omitting key facts" about the product that was based on subprime mortgage-backed securities.
Inoue also said market players were closely watching a possible bailout by the International Monetary Fund for debt-ridden Greece, and any move by China on its currency.
The SEC said Goldman failed to tell investors that a major hedge fund had helped put together the controversial financial product known as collateralised debt obligation (CDO) and was at the same time betting against it.
Paulson & Co, one of the world's largest hedge funds, paid Goldman Sachs to structure a transaction in which it could take speculative positions against mortgage securities chosen by the fund, the commission said in a statement. The news hit sentiment on concerns the US Securities and Exchange Commission conduct a wider crackdown on those that bet on the collapse of the housing market.
การแปล กรุณารอสักครู่..