Rush for renewable energy hurting rural and indigenous communities disproportionately

Indigenous people "under threat" from Asia clean energy push

Ban Khu - Muhammad Lamoh had no inkling that his small village of Ban Khu in southern Thailand would be key to the nation's renewable energy goals, until local authorities called a community meeting to inform them of a plan to build a biomass plant. The 25 megawatt plant began operating in March last year, despite villagers' concerns about its effects on their health

As energy transition speeds up

State oil firms risk wasting $400 bln

London - National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental organisation said on Tuesday. In a new report called Risky Bet, the Natural Resource Governance Institute (NRGI) estimated that NOCs could invest $1.9 trillion over the next ten years

U.N. report

North Korea developed nuclear, missile programs in 2020

New York - North Korea maintained and developed its nuclear and ballistic missile programs throughout 2020 in violation of international sanctions, helping fund them with some $300 million stolen through cyber hacks, according to a confidential United Nations report seen by Reuters on Monday. The report by independent sanctions monitors said Pyongyang "produced fissile material, maintained nuclear facilities and upgraded its ballistic missile infrastructure"

Figures released by the Federal Statistics Office showed

Chinese demand helps German manufacturers weather COVID-19 pandemic

Berlin - Germany's industrial sector avoided a contraction in December despite coronavirus lockdowns at home and abroad as strong demand from China helped export-oriented manufacturers in Europe's largest economy weather the COVID-19 pandemic. Industrial output was flat on the month after an upwardly revised increase of 1.5% in the previous month

As election row escalates

Somalia's opposition cease recognising president

Mogadishu - An alliance of Somali opposition parties proposed the creation of a national council of lawmakers, opposition leaders and civil society to govern the war-ravaged Horn of Africa nation after the president's term expired on Monday with no clear plan for succession. The power vacuum and divisions between political leaders was a boost to the al Qaeda-linked al Shabaab insurgency, a Somali security analyst warned

Pictures

The port of Beirut, six months after the devastating explosion / GALLERY

Officials have said the explosion was caused by chemicals that went up in flames after being stored at the port in poor conditions for years. Combi Lift signed the contract to remove flammable and highly reactive chemicals from containers at the port, some of them in storage since 2009.

Fincantieri

Vard Marine wins design contract for new Chilean Navy ship

Trieste - Chile’s ASMAR Shipbuilding & Ship Repair Company has awarded Vancouver, B.C., based Vard Marine (wholly owned by Vard AS, Fincantieri Group) a new contract for the design of an Amphibious and Military Sea Transport Ship for the Chilean Navy’s Escotillón IV Program. The multi-role vessels will be constructed at the ASMAR shipyard in Talcahuano, Chile

The infrastructure

Pipe laying for Nord Stream 2 restarts in Danish waters

Moscow - The consortium behind the Russia-led Nord Stream 2 natural gas pipeline has resumed laying pipes in the waters of Denmark, it said on Saturday, despite mounting pressure on the project from Washington. Construction of the link, which would double the capacity of the existing Nord Stream pipeline to 110 billion cubic metres of gas per year, was suspended in December 2019 due to the threat of sanctions from Washington

Use of EU funds without reforms won't be enough

Bank of Italy says country needs cohesion to grow and cut debt

Milan - Italy's central bank called on Saturday for cohesion as the country battles a government crisis, saying it was imperative to revive growth and reduce a public debt that the coronavirus pandemic has pushed to levels last seen after World War One. Italy's debt is expected to approach 160% of domestic output at the end of this year

As farm protests widen

Tractors, trucks block India's roads

Kundli - Thousands of farmers across India blocked roads on Saturday with makeshift tents, tractors, trucks and boulders to pressure the government to roll back agricultural reforms that have triggered months-long protests. While the initial protests were started by rice and wheat growers from northern India who camped out on the outskirts of New Delhi, demonstrations have spread across the country

FY net profit 113 mln euros vs 5.7 bln loss in 2019

Investment banking boom lands Deutsche Bank first profit since 2014

Frankfurt - Deutsche Bank eked out a small annual profit in 2020, its first since 2014, saying on Thursday it had made strong gains at its investment banking division. Over the past 10 years, Deutsche has lost a total 8.2 billion euros ($9.8 billion) and the return to profit marks an important milestone for Chief Executive Christian Sewing as analysts had been predicting another loss in 2020

Exports to surge amid global shortage

India lines up deepwater port for rice

Mumbai - India's southern state of Andhra Pradesh will use a deepwater port to export rice for the first time in decades amid a global shortage of the grain, according to a government order seen by Reuters, which could raise shipments this year by a fifth. The order, issued late on Wednesday, allows Kakinada Deep Water Port to handle rice until more capacity is created at the adjoining Anchorage Port. Congestion at the Kakinada Anchorage Port

Jakarta increasing share of palm oil in biodiesel

Indonesia's palm oil-powered "green diesel" fuels threat to forests

Kuala Lumpur - Indonesia's ambitious biodiesel programme will increase the risks of deforestation as more tropical forest could be cleared to grow palm oil, environmentalists have warned, urging policymakers to implement a long-term ban on new plantations. Indonesia - which is home to the world's third-largest tropical forests but is also its biggest producer of palm oil - has steadily increased the portion in its biodiesel mandate derived from palm oil

Shares soar

Ebay earnings beat on pandemic-driven surge in online shopping

New York - E-commerce firm eBay said on Wednesday it would emerge "stronger" from the COVID-19 crisis after a pandemic-driven surge in online shopping helped the company beat estimates for sales and profit in the holiday quarter. Shares of the company were up nearly 10% in extended trade. The global health crisis has forced millions of Americans to stay indoors, leading to a jump in online orders for e-commerce companies including eBay, Amazon and Walmart

The new connections will cover 70 per cent of the country's cargo origins and destinations by an own rail product.

Hapag-Lloyd offering block train connections in Ukraine

The rail service will be provided by NUNIT, the intermodal company of TransInvestService (TIS), the largest private terminal operator in Ukraine.