El Niño News

29.07 / 04:39

Waves FIVE country Tourist hotspot Rhodes burns as successive deadly heat waves ravage Greece

Greek island of Rhodes, some people are spending their vacation on empty beaches amongst charred trees and burnt land. The fires, spurred by a sweltering heat wave that blanketed the country, triggered a huge evacuation of residents and tourists on the island last weekend as forests burned for a week. As wildfires scorched the land, tourist and residents worked to extinguish fires by seaside resorts.

28.07 / 13:41

business Blockchain Technology Environment Energy Tech Podcast The Agenda podcast chats with Energy Web on how to fight climate change with help of blockchain

This summer, parts of the United States are wilting under a multi-month stretch of sweltering heat and data suggests that summer temperatures will continue to creep up in the coming years. The planet is on what seems to be a pretty clear path to soon reaching 1.5 degrees Celsius of warming for the first time since preindustrial times, a milestone number that the world’s countries pledged to try to remain under in the 2015 Paris Agreement.

27.07 / 20:03

UPS Extreme July will be hottest month ever recorded, say scientists

Working at Leipzig University in Germany, Haustein's analysis corroborates the death knell sounded by other scientists, who had warned that July was likely to be the hottest month on record. «The extreme weather which has affected many millions of people in July is unfortunately the harsh reality of climate change and a foretaste of the future,» Petteri Taalas, secretary general of the World Meteorological Organization, said in a statement, reports NYT.

27.07 / 19:19

COST UPS Strategy country Next up: legal, bureaucracy and currency reforms’

NEW DELHI : Reforming India’s administrative machinery and the legal system, along with making the rupee a hard currency, widely accepted for global transactions, are top on the government’s next reform agenda, said Sanjeev Sanyal, a member of Prime Minister Narendra Modi’s Economic Advisory Council. In an interview, Sanyal said that maintaining macroeconomic stability and taking care of the bottom of the pyramid are the two key pillars of the government’s economic management strategy. Edited excerpts: Our GDP (gross domestic product) rowth will be somewhere in the 6.5-7% range.

25.07 / 08:03

COST UPS HSBC Cereal shortages may further fuel India’s inflation, HSBC Says

HSBC Holdings Plc. “Although concerns about rising food prices are warranted, the real problem is not with tomatoes, but elsewhere,” economists Pranjul Bhandari and Aayushi Chaudhary wrote in a report. The worry on cereals, including rice and wheat, are “legitimate” and may push prices higher.

23.07 / 05:39

Europe Climate change Climate Tourism The world is scorching. Here are the tourist hotspots facing the most heat

This year’s tourism season has been extra hot, with temperatures in the northern hemisphere reaching record-breaking levels that are set to keep intensifying.

21.07 / 04:35

UPS Extreme Remark World's hottest month in hundreds of years: NASA warns July 2023 likely to be the warmest month

NASA briefing with reporters. Daily temperature records have already been shattered this month, and extreme heatwaves are being observed globally in the US, Europe, and China.

20.07 / 21:19

UPS Digital Progressive Manufacturing show country Rural auto demand set for festive revival

rural markets — which had remained weak in the past three years due to the economic impact of the pandemic — are revving up and expected to spur demand for passenger cars, motorcycles and tractors as the country heads into the festive season later this quarter. Moderating rural inflation, higher non-agricultural income and an increase in minimum support price for all kharif crops are expected to put more money in the hands of consumers in rural markets, boosting demand and bridging the divergent recovery seen in the country since the easing of Covid, said several senior industry executives.

20.07 / 18:39

UPS Progressive ICE performer country HUL posts 8% rise in Q1 net profit; volumes still muted

Hindustan Unilever Ltd (HUL), the largest household goods maker in India, reported an 8% increase in profit in the June quarter as it intensified advertising and marketing expenses to tackle rising competition. However, the results slightly missed street expectations. Net profit climbed to Rs2,472 crore for the three months ended 30 June from Rs2,289 crore a year ago, the company said in a statement to the stock exchanges on Thursday.

19.07 / 17:41

Citi Waves Waters Extreme Southern The World Bakes Under Extreme Heat

Deadly heat waves are upending daily life in large parts of the U.S., Europe and Asia, as warming oceans and unprecedented humidity fuel one of Earth’s hottest summers on record. Meteorologists say last month was the hottest June on record and 2023 could be the hottest year ever if July’s record temperatures continue, straining businesses and threatening power grids .

17.07 / 10:13

India’s share in global market cap highest in June so far this year | Mint Primer | Mint

Foreign fund inflows have boosted Indian equities,... moreForeign fund inflows have boosted Indian equities, with key benchmark indices reaching new highs.

16.07 / 12:47

Citi Man Extreme Southern Mercury Climate Change: US, Europe reel under historic heatwave, while Asia battles torrential rain, floods

Climate change and its effects are no surprise to humankind, these extreme conditions might spell doom for civilisation. In the latest turn of events, a rapidly developing El Nino threatens Earth's climate activity. In northern India, relentless monsoon rains have reportedly killed at least 90 people, following burning heat. Major flooding and landslides are common during India's monsoons, but experts say climate change is increasing their frequency and severity. A man died as torrential rains lashed northern Japan on Sunday, a week after seven people were killed in similar weather in the country's southwest.

16.07 / 05:21

UPS Citi Provident Lowe's Target global economy Charting the global economy: India may ban rice exports, China economy struggles

inflation rate slipped to a more than two-year low, spelling relief for American consumers and moving the Federal Reserve a step closer toward ending an historic cycle of interest-rate hikes. China’s economy continues to struggle, with recent trade figures showing the largest drop in exports since early 2020. Industrial output in Europe remains weak, while strong wage growth in the UK threatens to add to inflationary pressures. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

15.07 / 00:39

Citi FIVE Reuters Waters Extreme Mobile Southern Heatwave forces Athens to close Acropolis, U.S. Southwest broils

By Deborah Kyvrikosaios and Liliana Salgado

14.07 / 18:33

COST UPS Manufacturing Dreams TCS Indian Silver Dark clouds and a silver lining: In search of the Indian Dream

El Niño, the warm current in the Pacific Ocean that is exacerbating bad weather in the Global South. Check out this Plain Facts piece and its 6 charts to understand why the world could be staring at a food shortage. On the other side of the coin, Sayantan Bera explained why India should consider limiting the advertising of junk food, based on the World Health Organisation's recommendations.

13.07 / 12:21

UPS Waves Lowe's Target Waters Extreme El Nino is threatening rice crops while grain supplies already are squeezed by the war in Ukraine

Experts are warning that rice production across South and Southeast Asia is likely to suffer with the world heading into an El Nino

13.07 / 04:39

UPS Waves Lowe's Waters Extreme Fallout Warning A $50 billion UK investor has a heat warning for portfolios

heat records, one of the world’s biggest green investors says fund managers need to sit up and take note.Impax Asset Management Group Plc, which oversees about £40 billion ($50 billion) in client assets, has found that portfolio companies generally don’t know how extreme heat can affect their valuations. Heat waves “are a threat to revenue loss, productivity and the supply chain,” Matthew Wright, a research analyst at Impax who specialises in studying the fallout on asset values of climate change, said in an interview. The phenomenon has the potential to disrupt all sectors, but some are more vulnerable than others, he said.

12.07 / 19:15

Digital June retail inflation higher than expected

Food Price Index (CFPI), which accounts for nearly half of the overall consumer price basket, rose to 4.49% in June 2023 against 2.96% (revised) in May 2023. During June 2022, CFPI stood at 7.75%. Economists said inflation could cross 5% in the next two months on a continued rise in prices of vegetables, pulses and cereals.

11.07 / 13:35

Target Retail inflation likely rose to 4.6% in June on vegetable prices; to stay within RBI's target in 2023

inflation data will be released this week. Expectations are at 4.6 per cent, higher from May at 4.25 per cent mainly due to higher vegetable prices amid unseasonal rains causing supply disruptions. Further, we expect core CPI inflation at 5.2 per cent - higher by 5 bps from the May reading,'' said Upasna Bhardwaj, Senior Economist at Kotak Mahindra Bank.

09.07 / 13:49

Climate change Canada News 64% of Canadians have air conditioning. Is it enough for climate change?

Climate scientists proclaimed July 3, 2023, the hottest day in human record keeping.

09.07 / 13:45

UPS Provident Manufacturing An upbeat report works best with clarity on risks

The Indian economy stands at a crucial crossroads, with paths leading to growth and sustainable prosperity, or to a cliff edge and sheer drop. Technically, going by official statements, it looks set to carry its growth momentum into fiscal 2023-24, buoyed by favourable tailwinds and signs of a resurgence during 2022-23 (with the year’s real GDP coming in at 7.2%), thereby setting the stage for a broader recovery and good times ahead.

facts about El Niño

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