Providing For The Future: Despite Covid-19 Crisis & Falling Oil Prices, Russia's Gold & Foreign Exchange Reserves Reach All-time High -- Society's Child -
The value of Russia's gold and foreign currency holdings has risen by almost $9 billion in a week. This means it's sitting on $600 billion in forex reserves - an all-time record beating August 2008's previous high of $598 billion. That was just before the global financial crisis, or 'Great Recession', which wreaked havoc worldwide towards the end of the 2000s. Back then, the slush fund started to dwindle rapidly, due to the economic crisis, and lost over $100 billion in value in the following three months.
Under-construction Renewable Energy Projects Get Five-month Extension For Meeting Deadlines For Completion - The Financial Express
The government had said in March that delays in construction activities for renewable energy plants on account of disruption of the supply chains due to coronavirus would be seen as a force majeure event.
Masdar is the renewable energy developer of Mubadala Investment Company. Masdar announced its second strategic investment in the United States (US) in a deal with EDF Renewables North America that will see it acquire a 50 percent stake in a 1.6-gigawatt (GW) clean-energy portfolio. Masdar is investing in eight clean energy assets in California, Nebraska, [...]
Lower costs in clean energy and battery prices could give China's clean energy initiatives a boost. In the meantime, this could feed into exchange-traded funds (ETFs) that focus on renewable energy sources or even environmental, social and governance (ESG) investing. "China is the world's largest greenhouse gas emitter, and is building the most power plants [...] The post Falling Prices Could Power China's Clean Energy Initiatives appeared first on ETF Trends.
In one of the U.S. renewable energy market's biggest deals in a challenging year, Masdar is set to acquire a 50 percent stake in a 1.6-gigawatt portfolio of advanced wind, solar and energy storage projects from EDF Renewables North America. The deal, expected to close later this year, represents a new front in the global renewables collaboration between EDF and Masdar, which to date has largely focused on the Middle East and North Africa.
As America stands today, we are unwisely laying the foundation for another huge energy problem: over relying on outsiders for the essential components of the energy world of tomorrow. We should be doing all that we can to change this glaring vulnerability.
Statistics South Africa has reported that mining production decreased by 28.2% year-on-year in June. The largest negative contributors were platinum-group metals, with output down 42.5% and contributing -10.6 percentage points; and iron-ore, with out...
The two mega projects are estimated to cost Rs 19,000 crore. : The Uttar Pradesh government has decided to expedite the land acquisition process for the Kanpur and Agra metro rail projects, which are collectively estimated to cost Rs 19,000 crore. While, the nodal agency, UP Metro Rail Corporation (UPMRC), has started the civil work on the Kanpur metro, the work on the Agra project is expected to start soon. Last month, the Supreme Court (SC) had, with certain riders, cleared the Rs 8,380 crore Agra project, thus paving way for the mass rapid transit system (MRTS) in the city.
The loss comes after Woodside slashed up to $6 billion from the value of its assets last month due to the severity of the pandemic's impact demand for crude oil and LNG.
Gold is either a tactical call to book profits on swift price increase or to hedge long-term portfolios from equity market falls.