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Europe’s surge in solar output is impacting wholesale power markets
The surge in solar output across Europe is reshaping the dynamics of wholesale power markets, creating what is known as the renewables cannibalization effect. This phenomenon, driven by the rapid expansion of solar capacity, is driving down wholesale power prices during peak solar output periods…
April 19, 2024 -
China’s surge in steel exports prompts international trade tensions, US response
China’s surge in steel exports has triggered international concern, prompting responses from various countries including the United States. President Biden has called for increased tariffs on Chinese steel imports, reflecting a broader effort to counteract the influx of cheap Chinese exports that are disrupting…
April 19, 2024 -
Britain will conduct comprehensive review of economic security measures
UK Deputy Prime Minister Oliver Dowden announced that Britain will conduct a comprehensive review of its controls on outward investment and exports to safeguard its economic security in the face of growing vulnerabilities exposed by global events, particularly actions by countries like Russia and…
April 19, 2024 -
Saudi Arabia nears $1 billion investment in Barrick Gold’s Reko Diq project in Pakistan
Saudi Arabia, through Manara Minerals Investment Co. backed by its sovereign wealth fund, is edging closer to potentially acquiring a minority stake in Barrick Gold Corp.’s Reko Diq copper and gold mining project in Pakistan. The investment is expected to be at least $1 billion, with the possibility of further…
April 19, 2024 -
India’s manufacturing ambitions face hurdles as flagship incentive plan loses steam
India’s ambitious plan to rival China as a global manufacturing hub, fueled by subsidies and a vast labor pool, is facing challenges as its flagship production-linked incentive (PLI) scheme loses momentum. Initially hailed for its success in quadrupling mobile exports, particularly in smartphone manufacturing…
April 19, 2024 -
Abu Dhabi’s IRH eyes majority stake in Vedanta’s Zambian copper assets
The mining investment arm of Abu Dhabi’s International Holding Company (IRH) has proposed to acquire a majority stake in Vedanta Resources’ Zambian copper assets for over $1 billion. This move aligns with IRH’s ambition to establish a significant presence in the African copper mining sector, following its…
April 19, 2024 -
Russia dominates India’s oil imports as Middle East suppliers lose ground
In the fiscal year 2023/24, Russia emerged as the leading oil supplier to India for the second consecutive year, significantly reducing the market share of Middle Eastern and OPEC producers to historically low levels. India has been significantly increasing its intake of Russian oil, taking advantage of…
April 19, 2024 -
Mexico publishes decree to expropriate hydrogen plant from Air Liquide
Mexico’s government took a significant step on Thursday by publishing an official decree in its gazette, which initiates the expropriation of a hydrogen plant located at a Pemex state oil refinery. This plant had been previously sold to the French company Air Liquide under the administration prior…
April 19, 2024
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