Global automakers have touted plans to re-use electric vehicle (EV) batteries when they lose power, but competition for battery packs and cell materials, and the appetite for affordable cars cast doubt on this part of the circular economy. An array of startups offers second-life energy storage using old EV batteries. But creating the viable industry […]
Amazon.com Inc said on Friday it will take its investments in India to $26 billion by 2030, adding $6.5 billion in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States. Though Jassy gave no breakdown, the announcement follows Amazon’s cloud computing unit Amazon Web Services […]
Infosys, India’s No.2 IT services provider, signed a $454-million contract with Denmark’s Danske Bank on Monday, at a time when the broader sector is struggling with a slowdown in an uncertain global economy. The IT company will help digitize the lender’s core business and add more cloud and data facilities to it, including Infosys acquiring […]
IBM is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt. IBM declined to comment […]
Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry’s Statistical Review of World Energy report said on Monday. Last year was marked by turmoil in the energy markets after Russia’s invasion of Ukraine, which helped […]
Hydrocarbons will be an important part of Asia’s energy mix, Malaysian Prime Minister Anwar Ibrahim and industry executives said on Monday, as affordability and energy security remain key concerns for the region. Achieving net-zero emissions targets should not come “at the expense of economic growth or vice versa”, Anwar said at the inaugural Energy Asia […]
A smooth energy transition promotes sustainable development and climate resilience but it requires efforts on multiple fronts. Developing countries in Asia and the Pacific are facing greater challenges in transforming their energy systems from fossil fuels to renewables in response to climate concerns. Political and economic concerns, along with the impact of the pandemic, have […]
DUBAI, June 21 (Reuters) – Heavy clashes broke out between rival military factions in several parts of Sudan’s capital on Wednesday as a 72-hour ceasefire that saw several reports of violations expired, witnesses said. Shortly before the truce ended at 6 a.m. (0400 GMT) fighting was reported in all three of the cities that make […]
The Russian invasion of Ukraine has increased global oil market volatility. The economic impact of another oil price shock, should it materialize, would be significant. At the beginning of Russia’s invasion of Ukraine, the crude oil price breached $130 per barrel in March 2022, the highest since 2008. Since then, it retreated to about $100 […]
ADB Principal Energy Specialist Kelly Hewitt answers questions about why energy costs are so high and what consumers and governments can do to bring them down. Global energy prices increased by more than 26% in the early months of 2022. This has implications that spread across the economies of Asia and the Pacific, with electricity […]
