yiktin

🚨🚨🚨🚨FULL STATEMENT: UAE says it's leaving the OPEC oil cartel from May 1. "... Following its exit, the UAE will continue to act responsibly, bringing additional production to market in a gradual and measured manner, aligned with demand and market conditions..."

@fredyinhk @kjoules That's why the average number of kids in each family is at least three for the top 2-3 schools in HK

@timdayipper @kjoules although it could be argued that if you’re an average employee but happen to have 5 kids, it makes HSBC a great place to work.

HSBC is considering making changes to a longstanding Hong Kong perk in which staff in/above the mid level are entitled to subsidies that cover 95% of school fees for each child: up to HK$220,000 in primary school and $300,000 in secondary school per year bloomberg.com/news/articles/…

@redoctober64 @Civixplorer err... They were the losers driven westward from the Mongolian steppe

@Civixplorer (1): Hungarians would not convert to Christianity they would adopt east asian religions such as heaven worship, buddhism, taoism, shintoism, and korean shamanism. Hungarian would remain phenotypically east Asian and not caucasian.

What if the Hungarians went the other way?

@CarlZha San Francisco, the epicenter for the Chinese Exclusion Act

Welcome to the USA. L(Mao)

LMAO

"New reports from today indicate that this Indian tanker fell for a fake IRGC crypto scam. They paid USDT to the scammers, thinking they could now pass through freely, and got shot at by the real IRGC forces."

@jbillinson How about them running at that speed holding a machine gun?

why am I supposed to be impressed that a robot can run a half marathon faster than a human? ok, a toyota corolla can do that too. do you actually understand why sports are exciting?

@DollarCakeCry @gonglei89 This is a 130+ years old company and owns most of the core real estate in Central, Hong Kong, after Jardine cashing out from all the opium profits.... The company is appropriately named

@gonglei89 developers 95% of the times use a cringe name, whats wrong with that industry

Something funny about a signage that says “Shanghai’s new downtown” from a developer called Hongkongland.

@GlennLuk @alkhwarizmi42 There are quite a lot of highways projects (and now reconstruction and widening) that do not justified from traffic flows, just to have the capex to extend concession life

@alkhwarizmi42 Yep - peaked at ¥2.1T p.a. 2020-21 and then saw significant decline following funding restrictions on LGFVs post "Three Red Lines"

I really liked this chart comparing various American investment booms and thought it would be interesting to overlay China's rail investments over the past quarter-century. A few things to note: ▪️ China's rail investment peaked at ~2.1% of GDP in 2010. While it has leveled out at ~¥800B (~$100B) per annum, % of GDP has declined because of rapid growth in aggregate productive capacity. ▪️ In terms of national-level resource allocation, China's HSR investment was closer to Eisenhower's Interstate Highway System than American rail investment in the 19th and early 20th century. (remember the vertical axis is log scale) ▪️ China is spending significantly more on its solar/wind buildouts than HSR ($200-250B per annum). Add battery and EV capacity to this number and now we are talking about investment levels much more comparable to the American rail-building boom.

@javedhassan @tparsi @mb_ghalibaf @ryangrim @samirahmed14 @humza_jilani @citrinowicz @glcarlstrom @s_m_marandi @esaagar @samigodil You mean setting the scene for taco tuesday?

So, a couple of the boys have been texting me: “Why the hell would Trump drop the Hormuz blockade bomb on a Sunday? It’ll send oil screaming past $120, maybe $130 if the algos really panic. Makes zero sense if you actually want cheaper barrels.” But it makes perfect sense. Beautiful, even. See, Tokyo and Hong Kong are already humming by the time the East Coast is still nursing its coffee. Those futures pits—Dow, S&P, the whole equity complex, plus Brent and WTI on the screens—never really sleep. You’ve got fourteen, fifteen hours of runway before the New York bell. Plenty of time for the right hands to lean in: long the indices in Hong Kong, short the crude in Tokyo, riding the fear wave as the blockade tweet lights up every terminal from Singapore to Sydney. Then, right on cue, before the U.S. opens, comes the pivot. Something about “there’s regime change in Tehran,” “we can do business,” “Talks were Good,” the usual art-of-the-deal baloney. Markets whip around like they’ve been Tasered. Oil gives back the spike, stocks rip higher. The boys in Asia unwind clean, pocket the spread. A few hundred million, maybe more, conjured out of thin air on the back of one perfectly timed Sunday morning post. Not bad for a morning’s work. The Street’s been running these kinds of games for decades: information, timing, leverage. Just never quite so… presidential!!

@Jomboy_ It wasn't legal 25+ years ago, they changed a few rules in the late 90s. Volleyball used to only able to score if you are serving, and only losing the right to serve when failing to score

I learned something new about volleyball

@FCNightingale Il Bel Paese is Chinese food to real Italians

Office Block on Hong Kong's Queens Road sold by receivers at 71% off. 287-299 Queen’s Road Central sold for HK$611.4M. Purchased for HK$2.1B in 2018. New buyer is a company controlled by veteran local investor Fang Shin and his venture capitalist son Alex Fang (founder of venture capital firm eGarden Ventures). Acquired from receivers appointed by the Macau unit of Industrial and Commercial Bank of China (ICBC). The 1982-vintage tower comprises three floors of retail space in its lower levels, while the floors above are office space. US fast food chain McDonald’s and a Chinese restaurant occupy the entire ground floor. -Mingtiandi #commercialrealestate

@BoCamaro @henkkakoskinen @Rehzreal @hatcherj10 @RandyHubbard3A What happened when the fuel tanks underneath gas stations go empty?

@henkkakoskinen @Rehzreal @hatcherj10 @RandyHubbard3A Cool. What happens when rhe batteries go empty?

I get tired of seeing this. Guys, Tesla could do this tomorrow if the grid could stand it. What you don't understand is that this is taking 2 MEGAWATT of power to do this. That's to charge 1 single car. Let me put this into perspective. You would need an entire nuclear reactor to charge 500 cars. This may be adopted in the future when battery tech comes a LONG way where the charging station can charge batteries slower, amd then transfer to cars really fast, nut a direct from grid transfer at this rate isn't happening at scale. Not here, not in China, not anywhere, any time soon.

@centristmarxist How did we build the interstate highway system and all the subsequent lane widening?

Fun fact: this cannot happen without a political revolution that overthrows the US Constitution

Bloomberg reports: As a result of Iranian attacks on the aluminum plant of the Emirates Global Aluminum Company in the Al-Tawila, the plant lost its power, the electrolysis lines stopped uncontrollably and the aluminum solidified right inside the smelting circuits. The aluminum plant of the Bahrain Aluminum Company in Manama was also targeted by the attacks. The aluminum plants in the Emirates and Manama were among the largest in the world, each producing 1.6 million tons of aluminum annually.

@kidzevn @EugeneNg Is the ride sharing fleet owned by Vingroup?

The cars keep exploding or shutting down in the middle of the road. Company leaders have bought the media so zero bad reviews. The numerous vehicles you see on the roads belong to their ride-sharing fleet, which is competing directly with Grab, by undercutting aggressively. Unless purely due to patriotism, no rational consumers would buy their cars. Cannot trust any financial statements in Vietnam either 🤷‍♂️ Just my 2 cents from a Vietnamese living in Ho Chi Minh city.

Was recently in Vietnam, noticing numerous VinFast ($VFS) cars on the roads of Ho Chi Minh and Hanoi, and decided to check in on this. This post aged well. Down 91% from back then.

@cmhk258 @kjoules Which put us in line with the high end of those European countries. The article was written by those probably never filled up gas in HK

@kjoules They don't include all those "rebates" the gas stations give you. It probably amounts to ~10 HKD per /L

The world's next most expensive petrol price is almost one-third cheaper

The US shale has an expiration date🛢️ The best wells are almost gone... 🔴 Bakken → 1-2 years of Tier 1 left 🔴 Eagle Ford → 2-4 years 🔴 Midland → 3-5 years After that? Tier 2 wells. More expensive, Higher breakeven. With Hormuz closed and supply already short The floor on oil prices just got structurally higher. This is a structural shift. I wrote about it in the below article: themerchantsnews.substack.com/p/what-if-the-…

There's a lot of confusion out there, including with Trump, that the US has lots of oil to sell to the world. We do not. We're a net importer of crude (~+3 Mb/d). The EIA reports that fact in great detail every week. The confusion stems from using the term "petroleum exports" which includes the bodacious amounts of natural gas liquids (NGL) that come from our wet gas plays. That stuff isn't "oil" and it is exported because it's wildly overproduced compared to our needs. Yes, the US is a net exporter of "petroleum," but it's also a net IMPORTER of crude oil. In other words, the US has none to sell. There's more complexity to why we export 3M b/d of crude (it's the wrong kind for our refineries) and also import 6.4 M b/d of crude (which is the right kind).