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Germany to scale back solar subsidies amid rising renewable energy oversupply
Germany is set to narrow subsidies for solar producers, in response to an oversupply of renewable energy that has led to frequent occurrences of negative wholesale power prices and ballooning government costs. With solar expansion booming, the German government’s obligation to provide a minimum feed-in tariff…
October 29, 2024 -
Historic UAE-Vietnam CEPA opens doors to new trade, investment, and growth
The United Arab Emirates (UAE) and Vietnam have signed a historic Comprehensive Economic Partnership Agreement (CEPA), marking Vietnam’s first free-trade agreement with a Middle Eastern nation. The deal, signed by Vietnamese Prime Minister Pham Minh Chinh in Dubai after a year of negotiations, aims to deepen trade ties…
October 29, 2024 -
India’s JSW joins forces with Korea’s POSCO to build 5 million-ton steel plant
India’s JSW Steel has signed a preliminary agreement with South Korean steel giant POSCO to develop an integrated steel plant with an initial production capacity of 5 million metric tons annually. The joint venture, announced on Tuesday, is a strategic move for JSW, India’s largest steel producer by capacity, to boost domestic…
October 29, 2024 -
US to finalize new curbs on investments in China’s AI, advanced tech over security risks
The Biden administration announced it is finalizing new regulations to limit U.S. investments in China’s artificial intelligence and advanced technology sectors, citing national security concerns. Expected to go into effect on January 2, the rules follow an executive order signed by President Biden in August 2023 and specifically target…
October 29, 2024 -
Libya’s oil exploration revives as Eni and BP commence drilling in Ghadames Basin
Libya’s state-owned National Oil Corporation (NOC) announced today that exploration activities by Italy’s Eni and Britain’s British Petroleum (BP) have officially resumed in Libya after a lengthy hiatus in onshore drilling operations since 2014. In addition, Spain’s Repsol is preparing to restart drilling operations in the Murzuq Basin, while…
October 28, 2024 -
India to inaugurate first private military aircraft plant with Airbus-TATA joint venture
India is set to open its first private military aircraft manufacturing facility on Monday, marking a significant stride in its efforts to bolster local defense production and reduce dependence on imports. The plant, located in Gujarat, is a joint venture between Airbus SE and TATA Advanced Systems and will produce C-295 transport aircraft…
October 28, 2024 -
China’s traditional commodities sectors struggle as steel, oil refining losses deepen
China’s traditional commodities producers, particularly steelmakers and crude oil processors, continue to grapple with the economic slowdown as they post deepening losses. The steel industry, the largest globally, reported cumulative losses amounting to 34 billion yuan ($5 billion) over the first nine months of the year, according…
October 28, 2024 -
Swiss firms eye growth in India with $100 billion trade pact set to slash tariffs
Swiss investments in India, notably by engineering giant ABB and logistics firm Kuehne+Nagel, are surging, with a new $100 billion trade and economic partnership agreement (TEPA) expected to further enhance access to India’s expanding market. Signed in March between India and the European Free Trade Association (EFTA), whose…
October 28, 2024
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