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DP World, a leading global logistics provider, has finalized a significant expansion project at Peru’s Callao Port. The Bicentennial Pier project, valued at $400 million, significantly enhances the port’s container handling capacity and strengthens Callao’s role as a vital trade gateway on South America’s west coast. The expansion extends the Bicentennial Pier from 650 meters to 1, 050 meters, enabling Callao to accommodate three vessels simultaneously – […]

The Middle East and North Africa (MENA) region stands on the precipice of a clean energy revolution. A recent report by the Global Wind Energy Council (GWEC) reveals a staggering potential:a whopping 1, 400 gigawatts (GW) of harnassable offshore wind power. This untapped resource dwarfs current energy production in the region and could significantly alter its energy landscape. While the report acknowledges the nascent stage of offshore […]

Cryptocurrency exchange BitOasis is forging ahead with regional expansion plans after securing a key license in Bahrain. This comes just two months after Dubai authorities lifted a suspension on BitOasis’ operations. The Bahrain license, a Category 2 Crypto-Asset Services Licence issued by the Central Bank of Bahrain (CBB), paves the way for BitOasis to establish a local subsidiary, BitOasis Bahrain. This subsidiary will operate a new broker-dealer […]

By Nitya Chakraborty For France, the national politics has never been so exciting in recent years as the French President Emanuel Macron announced the holding of snap polls in the country on June 30 and July 7 after the disastrous results of his party in the European Parliament elections on June 9 this year. At […]

DUBAI, June 21, 2024 – In a move signaling confidence in the company’s future, shareholders of Dubai conglomerate IHC overwhelmingly approved a Dh5 billion ($1. 36 billion) share buyback program on Wednesday. The program, first announced in May, is designed to return capital to investors and bolster IHC’s financial ratios. IHC intends to repurchase up to 3% of its outstanding shares at a price to be determined […]

In a move designed to bolster efficiency within the electric vehicle (EV) battery production sector, Schneider Electric and AVEVA, industry leaders in energy management and industrial software respectively, have announced a collaborative effort with IN-CORE Systèmes. This tripartite alliance aims to revolutionize EV battery manufacturing by establishing a more comprehensive data-driven approach. The exponential growth of the EV market has intensified the demand for improved battery production. […]

The arrival of summer in the Northern Hemisphere has coincided with a brutal heatwave, leaving millions sweltering under record-breaking temperatures. This scorching start to the season has raised concerns that climate change is fueling more intense and frequent heatwaves, with potentially devastating consequences. From Asia to Europe, cities are grappling with extreme heat. In India, temperatures have soared past 45 degrees Celsius (113 degrees Fahrenheit) in some […]

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A recent report by the World Economic Forum (WEF) positions Saudi Arabia as a frontrunner in the Gulf Cooperation Council’s (GCC) transition towards a clean energy future. The “Fostering Effective Energy Transition 2024” evaluated 120 countries based on their energy systems’ performance across four key dimensions:environmental sustainability, energy security, equity, and transition readiness. Saudi Arabia secured the 58th position globally, boasting an Energy Transition Index (ETI) score […]

Arabian Post Staff -Dubai The Abu Dhabi government has announced the listing of $5 billion worth of bonds on the Abu Dhabi Securities Exchange (ADX), a move designed to strengthen the emirate’s financial market and attract new investment. The bond issuance will be divided into three tranches, with the listing process commencing on June 21st. This initiative aligns with Abu Dhabi’s broader economic goals of diversification and […]

A recent industry report revealed a troubling trend:global dependence on fossil fuels reached an all-time high in 2023, despite significant growth in renewable energy sources. The report, titled “Statistical Review of World Energy, ” found that fossil fuel consumption climbed 1. 5% compared to 2022, pushing emissions to record levels as well. This rise comes even as renewable energy generation reached new heights, accounting for nearly 15% […]

In a sobering reminder of the challenges facing the fight against climate change, a new report revealed that global reliance on fossil fuels reached record highs in 2023. The report, titled the Statistical Review of World Energy, found that fossil fuel consumption climbed 1. 5% compared to 2022, pushing emissions to unprecedented levels. This rise comes despite a significant increase in renewable energy generation, highlighting the ongoing […]

Climate activists in the United Kingdom scored a significant victory after a High Court judge ruled in their favor regarding the government’s approval process for new fossil fuel projects. The case, brought forward by a group called “Drax for the Future, ” challenged the government’s policy of not requiring detailed assessments of the projects’ impact on the UK’s climate commitments. The judge, Mr. Justice Holroyde, found that […]

The European Union’s ambitions to become a leader in electric vehicle (EV) battery production are facing a significant setback due to a price war ignited by China and hefty subsidies offered by the United States. The EU initially set out a plan to establish a robust domestic battery industry, aiming to capture a significant share of the rapidly growing EV market. However, Chinese battery manufacturers, backed by […]

BANGKOK, THAILAND – Media OutReach Newswire – 20 June 2024 – As the world is shifting from the global warming phenomenon to “global boiling” which aggravates the severity of the environmental problem, the effort to create “low-carbon society” has become an urgent priority. However, it is a challenging task to encourage business organizations, consumers and all sectors in the society to go beyond their same old behavior […]

Master Supply Agreement for the delivery of 63 wind turbines with a capacity of up to 15 MW from Siemens Gamesa Gennaker project continues to progress Adding 945 MW to the clean energy transition in Germany HAMBURG, GERMANY – EQS Newswire – 19 June 2024 – Skyborn Renewables (Skyborn) advances the Gennaker offshore wind project with an updated Master Supply Agreement signed today with Siemens Gamesa for […]

By Anjan Roy The United Kingdom is facing a dilemma. It is not able to issue, for the time being, the regimental badges for its military service personnel bearing the imprimatur of King Charles. The reason: Chinese supplies. The UK issues the badges worn on berets, with their sovereign’s imprint on them, indicating the regiments […]

Over 70% of SMEs Expect Business Growth of At Least 4% Close to 60% Eye Development in Greater Bay Area HONG KONG SAR – Media OutReach Newswire – 19 June 2024 – Dah Sing Bank, Limited (“Dah Sing Bank” or “the Bank”) said today that according to the findings of its “2024 Survey on Business Opportunities for SMEs” (the “Survey”), Hong Kong’s small and medium enterprises (“SMEs”) […]

South Korean frontrunner in recycled carbon black, LD Carbon, has secured $28 million in a Series C funding round. The investment, led by Toyota’s growth arm Woven Capital, will propel LD Carbon’s mission of scaling up production of eco-friendly carbon black and pyrolysis oil derived from recycled tires and end-of-life vehicles. This significant funding round reflects growing recognition of LD Carbon’s innovative approach to a critical material […]

Exploring Tasty Ideas for Food Business HONG KONG SAR – Media OutReach Newswire – 19 June 2024 – Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo PRO and Hong Kong International Tea Fair will be staged concurrently from 15 to 17 August 2024 at the Hong Kong Convention and Exhibition Centre. The fairs feature global foods and beverages, tea, and related products, providing […]

A recent study by Orca AI, an autonomous shipping startup, suggests artificial intelligence (AI) has the potential to be a game-changer for the commercial shipping industry’s fight against climate change. The report estimates that AI-powered navigation systems could lead to a significant reduction of 47 million tonnes in carbon emissions annually. The global shipping industry plays a critical role in global trade, transporting roughly 90% of the […]

The current stock market composition, marked by significant concentration in a handful of tech giants, has understandably raised some eyebrows. Many investors are concerned that this top-heavy rally could signal underlying fragility. However, to my mind, a closer examination suggests that this concentration might not be as alarming as it appears and could even be a positive indicator for future market performance. Firstly, it’s important to recognize […]

The United Arab Emirates (UAE) is taking a significant stride towards its ambitious clean energy goals with the successful completion of its first large-scale wind farm project. This landmark achievement, constructed by PowerChina, a leading participant in China’s Belt and Road Initiative (BRI), is not only delivering renewable energy but also fostering knowledge transfer and sustainable development practices. The UAE Wind Program, located at the crossroads of […]

China is contemplating a significant shift in its foreign development strategy, with a focus on channeling resources towards environmentally friendly initiatives in the Global South. This potential approach, likened to a “Green Marshall Plan” by analysts, echoes the post-World War II program that aided European reconstruction but with a modern twist on sustainability. The world’s developing countries face a tough balancing act. They strive for economic growth […]

The International Energy Agency (IEA) warns that Africa’s long-term economic prosperity hinges on a significant increase in clean energy investments. While the continent is blessed with abundant renewable resources, fossil fuels continue to dominate its energy sector. The IEA’s Africa Energy Outlook 2023 report underscores Africa’s potential to transform into a global clean energy leader, but achieving this ambitious goal requires substantial financial commitments and well-defined policy […]

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