Latest News
-
Foreign borrowers flood Asia-Pacific bonds markets with everything from kangaroos and dim sum to kangaroos.
Foreign borrowers are ploughing into Asia-Pacific bonds markets that were once a niche. This shows that not only Big Tech is grabbing funding in an uncertain world with record borrowing. Commerzbank of Germany, Engie, Persil owner Henkel, Singapore Airlines, and the Portuguese Government have all sold bonds this year denominated both in Australian dollars and Chinese yuan. In fact, "kangaroo bond" sales by foreign issuers of Australian dollars have reached a record 'high' this year. This is up about 40% compared to 2025. Hong Kong dollar issuing has also reached a new record. Goldman Sachs reports that Chinese "panda", and offshore "dim-sum" yuan bonds sales have reached record levels of 160 billion yuan (24 billion dollars) and 350 billion respectively. This is a 60% increase compared to the same period last year. Carla Goudge is the head of debt syndicate for Asia-Pacific, HSBC. It's a choice that was not available regularly in this size a few short years ago. According to LSEG, foreign borrowers have increased their bond sales this year in yen currency, a well-established funding currency. Alphabet, the parent company of Google, sold a record amount of bonds this year. But even without that sale they are at their highest level in seven years. Bankers say the Asian rush has helped issuers diversify their funding sources, as AI investments and government deficits have boosted borrowing needs in U.S. and other markets. According to LSEG the global international syndicated bonds sales for 2026 have reached a new record of over $4 trillion, up from $3.5 trillion at the end of July last year. Hampus Falth, Mizuho’s head of the debt capital markets syndicate EMEA said, "It's usually a function larger funding programmes" for most?issuers who are issuing outside their core currencies. He added that bankers also advise clients to act early and diversify funding sources, as the competition for capital is increasing with hyperscalers flooding into major bond markets. SUPPLY and DEMAND In recent years, the number of Asian currency loans has increased. Bankers claim that this reflects an increase in demand caused by the broader boom of Asia's financial assets or Australia's rapidly growing pension fund assets. Beijing's efforts to internationalize its currency have also led to a rise in issuances, which has been attributed to the desire to expand the investor base of dim sum bonds. Christopher Kent, assistant Governor at Australia's Central Bank, said last week that as markets grow, they can gain momentum, because more people are familiar with them. "More investors are coming here to buy these bonds, and more issuers believe that this is a great place to issue for various reasons. So you get some growth, and then the growth leads to more growth." This is also an indication that investors want to diversify their portfolios away from the U.S. Dollar. Falth?said that Asian?investors, central banks, and other financial institutions who previously focused on U.S. dollars are now turning to Australian, Hong Kong, and even euro debt, thereby increasing the demand for debt?sales. China, Japan and other currencies offer lower rates of borrowing, which is attractive to firms that have local operations, but will also keep their cash in these currencies. Clifford Lee of DBS, Singapore's global head of investment banking, stated that panda bonds are issued by European financial institutions and German auto manufacturers. The amount of borrowing that can be sustained by such markets is limited. They are much smaller than the major markets, like the U.S. Dollar and Euro. This does not seem to deter the trend. Kenya and Brazil are also interested in the market. Falth stated that for those who swap back their borrowing into their own currency, from currencies such as the Australian dollar or the yen, they have been able to get a similar price as if they swapped?euros or dollars a lot more frequently this year. Portugal, who raised nearly 2 billion yuan ($300m) in April from the first dim-sum issuance by an euro zone government, converted the cash to euros at a slight cost savings. Rui Amaral, a member of the board for the debt agency, said that "the two main goals" were to diversify (the) investor's base and achieve a cost savings. He added that this issuance might not be an isolated event.
-
Lala becomes tropical storm, affecting more than 200,000 in Hawaii. 100 homes are damaged.
At midday on Sunday, more than 200,000 'utility customers' were without power in Hawaii. Hurricane Lala had brushed past the 'Big Island and was subsequently reclassified as a tropical storm. According to poweroutageus.com, about 219,000 customers in Hawaii were without electricity as of 12:05 pm HST (2205 GMT). State officials stated during a press conference that the number of outages on Oahu had dropped from 220,000 to 130,000 by Sunday morning. Hawaii's Governor Josh Green announced on Sunday that state officials had received reports about at least 100 damaged homes. Lala moved west-northwest with a speed of almost 16 mph. (26 kph). The maximum sustained wind speeds were near 65 mph. (105 kph). As of 11:00 am HST (2100 GMT), the National Hurricane Center's latest advisory indicated that Lala was just slightly below the hurricane threshold of 73mph. (117kph). According to the advisory, a?tropical cyclone warning is still in place for Maui and Oahu counties. Hawaiian Electric warned its customers Saturday night that repairs were being hindered by hurricane-force winds and rain flooding roads. A state official reported that Lala caused flash floods in Hawaii's south areas "like we've never experienced". Officials from the state also warned residents to stay inside after at least one death was reported in a car accident. One official told a Sunday morning press conference that "it's not the day to go to the beach." The Hawaii Department of Transportation released a video showing flood waters flooding roads. According to the National Weather Service, two homes were swept away. Officials said that 117 people had taken refuge in shelters by Sunday morning. Hawaii's Department of Transportation said all airports had been reopened. However, officials advised that travelers should check with their airline for the latest information.
-
Wildfires kill an elderly couple on the Greek island of Salamina
Authorities reported that an elderly couple died and a number of other people were injured as fast-moving fires swept through the Greek island of Salamina, west of Athens, on the largest holiday weekend of summer. Heatwaves across Europe have caused droughts, dried out vegetation and strained water resources, which has led to wildfires in Spain and France. The Greek coast guard reported that more than 500 people had been evacuated, and a couple of elderly men died near the area where the fire began. The strong winds that had caused fires to spread across Greece abated in the afternoon. The fire broke out during Greece's busy summer getaway period around the Assumption Holiday on August 15, when many Athenians travel to nearby islands like Salamina, which is easily accessible by Piraeus' main port. Local reports state that five people were taken to a?health clinic in the area after their homes were damaged. To contain the fires, 192 firefighters, as well as 14 helicopters and aircraft, and volunteer crews were called in. The island was flooded with?firefighting ships?and the Coast Guard, and preparations were made for possible sea rescues from coastal areas that are in danger. Salamina was under a warning of high wildfire risks on Sunday. The cause of these fires is not yet known. The fires are a few days after tourists and residents fled villages in northern Greece's Halkidiki region as a wildfire, fanned on by strong winds, engulfed trees and houses near a resort. Reporting by Ivana Skularac, Editing by Christina Fincher & Alexander Smith
-
Twelve dead and at least 10 injured after Polish bus crash in Hungary
In a post on Facebook, Peter Magyar, the Hungarian prime minister said that a 'Polish bus' overturned in the middle of the night in eastern Hungary. Police said that the bus rolled over and ran into a ditch early on Sunday morning near Mezokeresztes, in eastern Hungary. The bus was headed towards Nyiregyhaza, on the motorway, when the accident occurred. The state news agency MTI reported that there were 57 people and two drivers in the bus. "A Polish registered bus traveling on the M3 towards?Nyiregyhaza... veered into a ditch and?overturned." Police said that preliminary information indicates the driver "likely fell asleep". The police reported that 12 people had died and others were injured, while the driver of the bus was being taken into custody. The injured have been taken to the hospital. (Reporting and editing by David Goodman, Anita Komuves and Krisztina than)
-
Vietnam Airlines Boeing 787 returns to Munich following takeoff incident
The airline and airport both confirmed that a Vietnam Airlines flight bound for Hanoi was diverted to Munich Airport on Saturday due to technical issues after takeoff. Flightradar24, a flight tracking website, reports that the Boeing 787 circled around for over two hours in order to burn off fuel. The plane had reportedly overrun the runway 'during takeoff. The video aired on ABC News in the U.S. showed a jet taking off, with a huge cloud of dust behind it. Vietnam Airlines issued a statement in which it said that the flight had returned to its departure terminal after takeoff due to a "technical problem". The airline did not give any further details. Munich Airport reported that after landing, the aircraft was unable to leave the runway on its own and remained stuck. The airport said that this forced it to close the north runway. Air traffic was then rerouted via the south runway. Vietnam Airlines reported that the crew had "followed all necessary procedures" and safely landed at Munich Airport. The airline stated that "the passengers and cabin crew members are safe." Vietnam Airlines said that it was working with relevant authorities to inspect the aircraft. It would provide updates once the results of the inspection and the specific operational plans are available. Reporting by Gnaneshwarrajan and Ananya Palyekar in Bengaluru, editing by Jamie Freed
-
Flightradar24 reports that Vietnam Airlines Boeing 787 returned from Munich to Munich following a takeoff accident.
Flightradar24 reported that a Vietnam Airlines flight returned to Munich on Saturday, after spending more than two-hours circling to burn fuel. The Boeing 787 had reportedly overran its runway when it took off. According to Flightradar24, the passengers were evacuated by using slides. The fire brigade also was on site. Vietnam Airlines said in a press release that the Hanoi bound flight had "returned to the airport of departure after takeoff" due to a technical issue that it did not specify. The flight crew followed all the required procedures, and safely landed at Munich Airport. "The passengers and crew members are all safe," said the airline. Vietnam Airlines announced that it was working with relevant authorities and parties in order to inspect the aircraft. Munich Airport announced on its website that it has closed its north runway and warned of possible disruptions to air traffic. Flightradar24 data shows that the north runway was closed because the plane had landed there, not the south runway. Munich Airport and Boeing didn't immediately respond to comments outside of regular business hours. (Reporting and editing by Jamie Freed; Gnaneshwarrajan)
-
Hurricane Lala causes thousands of Hawaiians to lose power amid 'life-threatening conditions'
Hurricane Lala blew into Hawaii on Saturday with high winds and heavy rain, leaving more than 40,000 utility users?without power? across the state. The National Hurricane Center issued a warning of "life-threatening conditions". According to the poweroutage.com site, 42,889 Hawaii customers were without power at 2:14 pm HST on Sunday (0014 GMT), including 31,792 Big Island residents and 7,203 Maui County residents, which include the islands of Maui Lanai and Molokai. The hurricane center issued an advisory at 2:pm. HST predicted rain of up to 25 inches on the Big Island and even more in some areas. It also predicted 8 to 12 inches for eastern Maui, as well as 4 to 6 inches for western Maui. The center stated that "this rainfall will cause life-threatening floods and mudslides in steep terrain areas." Hawaiian Electric warned its customers that "possible prolonged outages could occur overnight" as the storm system moved westward through Hawaii. Utility crews are assessing a 42 mile (67.6 km), or 67.6 kilometers, span of transmission lines on the Hamakua Coast, Big Island after fallen trees have knocked over multiple poles and other structures. The U.S. National Hurricane Center reported earlier in the day that Lala's sustained maximum winds?reached?75?mph (12 km/h), thereby making it a category 1 hurricane. Maunakea Weather Center on the Big Island recorded wind gusts exceeding 100 mph in the early afternoon, though winds would have been lower closer to the sea level. Hawaii Department of Transportation announced that it would close Hilo International Airport at Keahole and Ellison Onizuka International Airport at Keahole, both at 2 pm HST. The department closed commercial ports on Hawaii Island, Maui County and Kaua'i.
-
Xi calls on China to improve disaster prevention after floods and landslides hit the country
After a series of deadly floods this summer, Chinese President Xi Jinping urged the country to improve its?ability? to prevent, reduce and respond to?natural?disasters. Xi made his remarks on 'Saturday' in Qiushi - a 'journal central to Communist Party messaging. They follow China's most powerful typhoon of the year, and a series landslides which killed dozens. This highlights the increasing impact of extreme weather conditions on the second largest economy of the world. According to an article, "Global warming is causing extreme weather events, such as floods, typhoons and droughts. Their destructive effects are intensifying." Xi stated. The article cited Xi's call for a shift to pre-disaster preparation, stronger monitoring and early warning systems, as well as efforts to fill in gaps in flood control and drainage infrastructure in the north of China. The article cited Xi's remarks from a speech he delivered on April 28 at a Politburo Study Session. The capital of China was hit by the strongest typhoon of this year, which brought torrential rains that inundated roads and left vehicles stranded. In the northwest, flash floods caused landslides in Gansu Province that killed 25 people. And in Chongqing, in southwest China, a mountain collapsed and led to another landslide, which left 51 dead. China has been battling more destructive weather that scientists have linked to climate change. This is especially true this year as an emerging "El Nino" pattern boosts temperatures, fueling more frequent and fierce typhoons. Xi stated that China would "continuously improve its ability and level of response to natural disasters and effectively safeguard the lives and properties of the people as well as social stability" Xi warned that disaster risks'must be prevented from affecting economic, energy and food security and urged the use technologies such as artificial intelligence, drones, and satellite remote-sensing to aid in rescue efforts. (Reporting and editing by Jacqueline Wong, Ryan Woo, Xiangming Hu and Ziyi Tang)
Lala is downgraded from a tropical storm to more than 100,000 Hawaii residents without power
Nearly 130,000 utility clients in Hawaii were without power Sunday morning, after Hurricane Lala had brushed past the Big Island and was downgraded to tropical storm. As of 4:35 am, data from poweroutageus.com. According to HST (1435 GMT), the majority of the affected areas are on the Big Island. Honolulu County, and Maui County. Hawaiian Electric informed customers on Saturday night that repair efforts had been hampered due to the hurricane force winds and rain. They cited flooded roads and fallen trees. The Hawaii Department of Transportation released a video showing flood waters engulfing roads. Authorities reported that one person was killed in an automobile-related accident. According to the National Weather Service, two homes were washed away. Cynthia Totty Hefley, a resident of Big Island, said that she was "a little anxious" on Saturday about the rising water. She told KITV that she was most concerned about the ocean getting into her house. A?advisory by the National Hurricane Center, at 2 a.m. Hawaii Standard Time (HST), predicted 4 to 8 inches (10-20cm) more rain for the Big Island and Maui. This would be as much as 30 or 35 inches (76 to 89 cm) total since Lala began lashing Hawaii late Friday. Although the storm barely made landfall, Gov. Josh Green warned islanders to stay put as forecasters warned that there would be substantial damage. Lala was downgraded by U.S. meteorologists to a tropical cyclone, but its sustained winds of 70 mph (112km/h) are just below hurricane level. The hurricane center continues to warn about "life-threatening conditions". Lala's sustained maximum winds reached 120 km/h (75 mph) on Saturday, making it a Category 1. Hawaii Department of Transportation announced Saturday that it had closed the Hilo International Airport and Ellison Onizuka Kona International Airport. Both are expected to reopen on Sunday. State officials urged travelers to contact their airline for the latest information.
(source: Reuters)