In Europe the cost of electricity is soaring. Prices had been rising steadily this year, as economic recoveries got under way. But they have spiked in the past few weeks. Since the start of September, wholesale power prices in Germany and France have climbed by 36% and 48%, respectively. They are now hovering at around …read more →
WORLDReport
New Zealand Government to Invest $700m in Infrastructure for Housing
The New Zealand government has announced that US$700m of funding will be made available to build infrastructure needed to speed up housing developments. The money will be spent on accelerating projects on “build-ready land” to produce results in the shortest possible time. The investment is part of the larger $2.7bn Housing Acceleration Fund (HAF), which …read more →
The G7’s New Global Infrastructure Initiative
Group of Seven (G7) leaders met in Cornwall, England, on June 11-13 and agreed on a new initiative to support global infrastructure investment, launched as global needs rise and China’s Belt and Road Initiative (BRI) pulls back. Details on the initiative were sparse in the lengthy G7 communiqué, but the Biden White House issued a more …read more →
India Plans $6.8 Billion Program to Boost Health Infrastructure
India is considering offering as much as 500 billion rupees ($6.8 billion) of credit incentives to boost health care infrastructure in the nation hit by the coronavirus pandemic. The program will allow companies to access funds for ramping up hospital capacity or medical supplies with the government acting as a guarantor, said the people, who …read more →
World Bank To Disburse $150 Billion In Loans, Grants To African Nations In Next 5-Year
The World Bank plans to invest about $150 billion in Africa within the next five years towards promoting development on the continent, according to the President of the lender, David Malpass. Malpass, who spoke at the Summit on Financing African Economies, held in Paris, France, said bank is committed to financing development in Africa He …read more →
Tesla Battery Supplier Catl Says New Design Has One Million-Mile Lifespan
A Chinese car battery-maker says it is ready to manufacture a product capable of powering a vehicle for 1.2 million miles (two million kilometres) across the course of a 16-year lifespan. By contrast, most automakers only offer warranties ranging from 60,000 to 150,000 miles over a three to eight-year period on their cars’ batteries. Contemporary …read more →
Iran, Afghanistan Open First Rail Link with Eye on Trade
TEHRAN, Iran (AP) — The leaders of Iran and Afghanistan on Thursday inaugurated the first railway link between the two countries, expressing hope it would enhance trade links across the region. The 140-kilometer (90-mile) line running from eastern Iran into western Afghanistan will eventually be expanded by 85 kilometers to reach the Afghan city of …read more →
European Commission Commits €54 Million for Sustainable Transport Infrastructure
The European Commission has announced €54 million in funding for sustainable and safe transport infrastructure in Europe. Five projects have been selected to receive funds under the Connecting Europe Facility’s (CEF) Transport Blending Facility rolling call, an instrument that is used to mix EU and private financing. Dirk Becker, Director of the Innovation and Networks Executive Agency (INEA) …read more →
Cloud Infrastructure Services Market Record $5 Billion Incremental Growth in Q2
New data from Synergy Research Group shows that Q2 spend on cloud infrastructure services passed the $30 billion milestone, an increase of $7.5 billion from the second quarter of 2019. This continues the trend of ever-larger increments in cloud spending. Q2 2019 spending grew $6.5 billion from Q2 2018, which in turn grew $5.5 billion …read more →
China Unveils Plan for New Energy Vehicle Industry
China on Monday unveiled a development plan for its new energy vehicle (NEV) industry from 2021 to 2035 that aims to accelerate the country into an automotive powerhouse. The plan, released by the State Council, China’s cabinet, listed five strategic tasks to improve technology innovation capacity. The council intends to build new-type industry ecosystems, advance …read more →