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The Hang Seng Tech Index rose more than 1%, while the Hang Seng Index rose more than 0.8%.Biren Technology (06082.HK), a Hong Kong-listed company, rose more than 6%, with its revenue projected to grow by 207.2% year-on-year in 2025.J&T Express (01519.HK) shares surged over 12% in Hong Kong, with the company reporting a full-year net profit of US$225 million, a year-on-year increase of 98.2%.On March 31, the yen fell to its lowest level since July 2024 on Monday, prompting Japans top foreign exchange official, Jun Mimura, to warn that authorities might take decisive action in the foreign exchange market if the current situation persists. This followed similar comments from Finance Minister Satsuki Katayama on March 27 when the exchange rate closed above 160. According to data from the CME Groups central restricted order book, the most actively traded May put options saw more than three times the volume of the most actively traded call options on Monday. Mukund Daga, global head of foreign exchange options at Barclays in London, said, "Hedge funds have shown some interest in USD/JPY options as a way to hedge against potential intervention that could lead to a sharp decline in the exchange rate." He noted that trading activity was concentrated in the short-term structure, "which suggests that the market is focused on near-term event risks rather than a broad directional shift."March 31 – The "Measures for the Exchange of Damaged and Defaced Renminbi" issued by the Peoples Bank of China officially came into effect today. These measures, for the first time, systematically clarify the criteria for defining damaged and defaced Renminbi, clearly delineate the boundaries between convertible and non-convertible banknotes, and further detail the exchange procedures. Exchange services will be handled free of charge by financial institutions designated by branches of the Peoples Bank of China.

Desalination Plant in California Suffers Setback With Recommendation For Denial

Haiden Holmes

Apr 26, 2022 10:07

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The commission, which has the authority to reverse staff decisions but does so infrequently, is due to vote on the project on May 12.


Desalination, environmentalists argue, annihilates ocean life, consumes excessive amounts of money and energy, and will soon be rendered obsolete by water recycling.


Poseidon Water, the infrastructure subsidiary of Canada's Brookfield Asset Management, is proposing the desalination facility near Huntington Beach, just south of Los Angeles.


Poseidon has been attempting to secure approval for the project for more than two decades, spending an estimated $100 million in the process.


With the Western states of the United States suffering from a prolonged drought, officials appeared to be on the verge of approving the Huntington Beach facility. Last year, the business expressed sufficient confidence to discuss breaking ground on the $1.4 billion factory by the end of 2022.


Poseidon has operated a comparable facility in Carlsbad since 2015, although it was permitted locally prior to the state enacting regulations governing desalination plants.