Tag: Economy
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How multifamily developers are keeping the construction pipeline flowing
Apartment developers are getting creative in order to keep the construction pipeline flowing amid construction and capital challenges. Four of the developers leading those efforts described their approach to continue building new housing in a session at the 2023 NMHC Apartment Strategies Conference in Las Vegas Tuesday. Each of the panelists has seen delays in…
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AquaChemie opens petrochemical terminal in Jebel Ali Port, Dubai
DUBAI, UAE: AquaChemie Middle East, part of the UAE-based AquaChemie Group, has formally inaugurated its world-class petrochemical terminal in DP World’s Jebel Ali Port in Dubai. The advanced $50 million (AED 184 million) terminal will be one of the most functional and versatile bulk liquid terminals in the GCC region serving as a vital gateway…
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Gold hits over 9-month highs as U.S. Fed chief strikes dovish tone
Gold prices rebounded sharply on Wednesday as the Federal Reserve chief’s surprisingly dovish remarks on the central bank’s fight to bring down inflation sank the dollar and signaled to investors that a peak in interest rates was likely approaching. Spot gold climbed 1.2% to $1,951.43 per ounce by 3:48 p.m. ET, its highest since mid-April…
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Column: Germany needs more baseload power for vital industrial reboot
LITTLETON, Colo., Jan 31 (Reuters) – Europe’s main industrial engine – Germany – may be entering a recession after its economy shrank in the final quarter of 2022. The 0.2% quarter-on-quarter contraction in gross domestic product is a shallower decline than many economists had feared in early 2022, when Russia’s invasion of Ukraine sent power prices surging…
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ExxonMobil to build largest renewable diesel facility in Canada
ExxonMobil’s affiliate, Imperial Oil Ltd, will invest $560 million at Imperial’s Strathcona refinery (in picture) to construct the largest renewable diesel facility in Canada. It is expected to produce 20,000 barrels of renewable diesel/day. IRVING, US: ExxonMobil announced its majority-owned affiliate, Imperial Oil Ltd, will invest about $560 million to move forward with construction of…
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Jeddah anticipates $90bn real estate and infrastructure projects by 2030
The Red Sea port city of Jeddah is set to see $90 billion of real estate and infrastructure projects developed by 2030, according to an analysis carried out by global property consultant, Knight Frank. Faisal Durrani, partner – Head of Middle East Research at Knight Frank, explained: “As the tentacles of Vision 2030 spread across the…
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Canada injects $75 million into BHP’s Jansen potash mine
With billions of dollars spent in the past decade, BHP has already built two mine shafts and is planning for first potash production in 2026. (Image courtesy of BHP.) The government of Canada is investing C$100 million ($75m) to support the development of BHP’s low-emissions Jansen potash mine in Saskatchewan, about 140 km east of Saskatoon. The cash…
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Discovery advances biofuel crop that could curb dependence on fossil fuel
Michigan State University researchers have solved a puzzle that could help switchgrass realize its full potential as a low-cost, sustainable biofuel crop and curb our dependence on fossil fuels. Among switchgrass’s attractive features are that it’s perennial, low maintenance and native to many states in the eastern U.S., including Michigan. But it also has a…
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Air Liquide, Sasol to use renewable energy at Secunda, South Africa
PARIS, FRANCE: Air Liquide and Sasol have signed two Power Purchase Agreements (PPA) with Enel Green Power for the long-term supply of a total capacity of 220 MW of renewable power to Sasol’s Secunda site, in South Africa, where Air Liquide operates the biggest oxygen production site in the world. These PPAs are the first…
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More Than 300,000 mt of Lithium Battery Scrap Was Recycled in China in 2022, Recycling Market to Embrace Both Opportunities and Challenges in 2023
SHANGHAI, Jan 20 (SMM) – According to SMM survey, a total of 300,258 mt of lithium battery scrap was recycled in China in 2022 (including scrap in the form of battery, pole piece and black mass). Among them, 188,692 mt of ternary battery scrap was recycled, accounting for 63% of the total recycling volume, versus…
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