25/03/2026

BIZ & FINANCE WEDNESDAY | MAR 25, 2026

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Investors bet on Chinese renewables demand

Indian govt warns of misuse risk from cheap weight-loss jabs NEW DELHI: India’s Health Ministry warned yesterday of the risks of unregulated use of weight-loss drugs, as low-cost generic versions hit the market, stepping up inspections and enforcement across the pharmaceutical supply chain. The warning comes after patents on semaglutide – the active ingredient in drugs such as Ozempic and Wegovy – expired on March 20 in India, the world’s largest supplier of generic medicines. Ozempic and Wegovy are both produced by Danish company Novo Nordisk. Both weight-loss drugs are administered via once-weekly subcutaneous injections. Generic versions of the GLP-1 drugs – referring to the hormone that regulates blood glucose levels and appetite – will slash costs and transform the global fight against obesity. But the Ministry of Health stressed that the drugs can only be used with a doctor’s prescription. “With the recent introduction of multiple generic variants of GLP-1... concerns have emerged regarding their on-demand availability through retail pharmacies, online platforms, wholesalers, and wellness clinics,“ the Ministry of Health said in a statement. “These drugs, when used without proper medical supervision, may lead to serious adverse effects and related health risks.” It said the Drugs Controller of India had “intensified its regulatory surveillance”, including barring manufacturers from any “indirect promotion that could mislead consumers or encourage off-label usage”. Simon Barquera, president of the World Obesity Federation, told AFP that the “medication alone will not reverse the global rise in obesity.” “Obesity is a complex, chronic disease,“ he said, noting the importance of prevention efforts and healthier habits. India’s weight-loss drug sales have grown tenfold in five years to US$153 million (RM606 million) as of 2026, and are projected to soar to over half a billion by 2030. While the country still accounts for a third of the world’s undernutrition according to the World Health Organisation (WHO), rising incomes and urban lifestyles have pushed obesity rates sharply upward. Government data released March last year shows 24% of women and 23% of men are overweight or obese in India. Still, high prices – often 15,000 to 22,000 rupees (RM637-RM934) a month – have limited greater adoption. Since the expiry of the patent, several Indian drug makers have rolled out generic semaglutide products, with monthly injections costing anywhere between 1,300 rupees to 4,200 rupees (RM59-RM178). – AFP

SHANGHAI: Investors are rushing into Chinese renewable stocks, betting the oil shock triggered by the Iran war will boost global demand for green energy, a sector China dominates. Such a portfolio trend in Asia, spurred by heightened worries about energy security and growing distrust in Washington’s reliability, contrasts with a shift in the United States back toward oil and gas. “When you take a step back, the dust settles or the price of oil starts to come back down, whatever that may be ... countries now need to focus on energy security,” Aaron Costello, head of Asia at Cambridge Associates, told a conference in Hong Kong on Monday. “They need to further build out o Green energy stocks have jumped since Iran war began

their renewables, build out their energy grids, maybe more nuclear power, more focus on defence. The US has become, if not unreliable, certainly more erratic.” Since the US-Israeli war against Iran erupted on Feb 28, money has been moving into Chinese stocks in areas ranging from solar and wind energy to electric vehicles and batteries. The CSI Green Electricity Index has climbed 6% in March, while the CSI New Energy Index is up 2%, despite the benchmark Shanghai Composite Index slumping 8% amid war-induced panic selling. Industry leaders have outperformed, with solar energy giant GCL Energy Technology surging 48% so far this month. Battery king Contemporary Amperex Technology has jumped 15% and China National Nuclear Power Co is up 8%. Yuan Yuwei, a hedge fund manager at Trinity Synergy Investments, said he’s made long bets on China’s renewables, judging

“With China’s leadership in key industries such as EV, battery and power-generating equipment, Chinese exports and growth in 2027 and beyond may benefit from increased demand for these products,” Goldman Sachs said in note. Environmental Strategies Group co-head Ulrik Fugmann said that “tectonic shifts for energy transition” are already happening in Europe, which is revisiting nuclear energy and starting to build a more resilient energy infrastructure. “Put very simply, the cost – and certainly prolonged cost of a fossil fuel shock – far outweighs the investments needed to continue to build out renewables,” he told a podcast. “The relation between renewables, energy security and geopolitics has motivated real shifts, and accelerated with the war,” said Fugmann, who predicts a multi-year renaissance in renewables.– Reuters

they will benefit from state support and higher export demand. Against the backdrop of the war and resulting oil shock, “China will definitely boost investment in energy”, said Yuan. In addition, “after this war, people would have a second thought on gas-powered cars”, a trend that will benefit Chinese electric vehicle makers and battery producers, he said. Lin Sheng, chief investment officer at Wish Fund Management Co, said that the current energy crisis will prod many countries to pay attention to energy security and their overall energy mix, which will increase Chinese renewables exports. “Some of these sectors suffering from oversupply will turn quite profitable going forward”“ he said, adding the stock market correction provides a very good opportunity to buy Chinese renewables. China’s electricity output and clean technology exports already scaled record highs in 2025.

Australia, EU agree on sweeping new trade pact CANBERRA: The European Union and Australia struck a long-awaited free trade deal yesterday, while also agreeing to boost defence cooperation and access to rare earth minerals in the face of global uncertainty over trade. EU chief Ursula von der Leyen’s visit to Australia comes as the 27-nation bloc and the import reliant nation navigate renewed energy vulnerability sparked by the war in the Middle East.

The accord is the latest agreed by Brussels in a push to diversify trade as Europe faces challenges from the United States and China. Key sticking points on Australian use of European geographical names as well as how much beef can be exported to the continent were overcome to reach the deal after eight years of negotiations. Another compromise will see Australian winemakers allowed to use the term “prosecco” domestically, but they must stop using it for exports after 10 years. Australia will also be allowed to keep using some geographical names, such as feta and gruyere, in cases where producers have used the name for at least five years. And European car makers will benefit from Australia raising the threshold for a luxury car tax on electric vehicles – three-quarters will now be exempt. The two sides also agreed to step up defence cooperation as well as critical raw materials. Addressing the Australian Parliament yesterday, von der Leyen described a world that was “brutal, harsh and unforgiving”. In that context, she said the EU and Australia were bound by common values and must work together to mitigate over-reliance on countries like China for critical minerals. “We cannot be over dependent

Von der Leyen and Australian Prime Minister Anthony Albanese walk through the corridors of Parliament House in Canberra yesterday. – AFPPIC

Australia’s National Farmers’ Federation said it was “extremely disappointed”by the outcome of the deal. “What the Australian government has accepted today appears to offer no material change for key agricultural commodities as what the government rightly rejected in October 2023,“ president Hamish McIntyre said. EU firms exported €37 billion (RM1709 billion) of goods to Australia last year, and €31 billion of services in 2024. And Australia said the deal could add A$7.8 billion (RM21 billion) to its gross domestic product by 2030. Australia’s largest export market is China and the United States is its largest source of investment.

on any supplier for such crucial ingredients, and that is precisely why we need each other,“ she said. “Our security is your security, and with our new security and defence partnership, we have each other’s back.” She told lawmakers yesterday’s agreement on trade was a “fair deal, and one that delivers for your businesses and one that delivers for our businesses”. Under the deal, the EU said it expected exports to Australia to grow by a third over a decade. The quota of Australian beef allowed into the bloc will increase more than 10 times the current level over the next decade, although that falls short of what Australian farmers had been seeking.

But Canberra has redoubled efforts to diversify export markets for farmers since a 2020 dispute with Beijing saw agriculture shipments blocked for several years, and last year’s global imposition of US tariffs. Likewise, the European Union is on a drive to strike new partnerships in the face of US levies and Chinese export controls. Von der Leyen’s visit was overshadowed by the war in the Middle East, which has sent oil prices soaring. The EU chief this month said the conflict had served as a “stark reminder” of Europe’s vulnerabilities. She called yesterday for an immediate end to hostilities in the face of a “critical” situation for energy supply chains globally. – AFP