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☆ Why Singapore is quickly becoming the choice location for firms to support global carbon markets
▼ + stars: | 2024-02-15 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Carbon credits continue to play an important role in the global transition towards net zero. As an innovative financing mechanism, carbon credits allow corporates to mobilize capital to support emission-reduction projects. The decision to anchor CAD Trust in Singapore stems from acknowledging that transparency and governance are rooted in its DNA. Why Singapore is a prime location for firms to support global carbon marketsSingapore has successfully attracted more than 100 carbon market and services players to establish the city-state as their home base in Southeast Asia. Singapore's expertise in carbon services and its trailblazing move implementing Southeast Asia's first carbon tax in 2019, also appealed to Calyx Global.

Persons: — Dinesh Babu, Grace Fu, Duncan van Bergen, Van Bergen, — Duncan van Bergen Organizations: Reuters, Singapore, for Nature, National University of Singapore, Data Trust, Government of, Emissions Trading Association, Singapore's, Sustainability, Meta, Trust, Insider Studios, Singapore Economic Development Board Locations: Dubai, Singapore, Government of Singapore, South Asia, Southeast Asia, Oceania, Africa, Paris, Bhutan, COP28, Asia

☆ China ramps up yuan internationalisation under Belt and Road Initiative
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +4 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?

Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt

☆ California governor Newsom to visit China next week to discuss climate action
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Gavin Newsom, governor of the State of California, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 19 (Reuters) - California governor Gavin Newsom will visit China next week to discuss climate cooperation, promote bilateral economic development and tourism and encourage cultural exchanges, his office said in a statement on Thursday. "California and China hold the keys to solving the climate crisis," Newsom said. California has played a major role in maintaining climate ties between China and the United States, the world's two biggest greenhouse gas emitters. China and the United States relaunched top-level bilateral climate talks earlier this year after a hiatus triggered by the visit of former House of Representatives Speaker Nancy Pelosi to Taiwan, the democratically governed island that China claims.

Persons: Gavin Newsom, Mike Blake, Newsom, Donald Trump, Xie Zhenhua, Jerry Brown, Nancy Pelosi, Xie, John Kerry, David Stanway, Christopher Cushing Organizations: of, Milken, Global Conference, REUTERS, China Climate Institute, Beijing's Tsinghua University, United States, U.S, Dubai, Thomson Locations: of California, Beverly Hills , California, U.S, California, China, Hong Kong, Beijing, Shanghai, Jiangsu, Guangdong, . California, United States, Paris, Taiwan, Singapore

☆ Britain signs state-level trade accord with Washington
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

Britain had hoped for a sweeping bilateral trade deal with the United States after splitting from the European Union, but with President Joe Biden putting all talks on free trade agreements on hold, the British government has pursued state-level agreements instead. The British trade ministry said aerospace would be a priority sector under the Washington MoU, with Boeing (BA.N) being based in the state. The MoU with Washington is the sixth such agreement with a U.S. state. Washington state is also the home of Amazon (AMZN.O), Starbucks (SBUX.O) and Microsoft (MSFT.O), and is the state with the 11th highest gross domestic product (GDP). The six U.S. states covered by MoUs with Britain have a combined GDP of over 2 trillion pounds ($2.4 trillion), Britain said.

Persons: Nusrat Ghani, Kirsty Wigglesworth, Britain, Joe Biden, Ghani, Alistair Smout, William James Our Organizations: Britain's, State Department for Business, Conference, U.S, European Union, Boeing, Starbucks, Microsoft, Thomson Locations: Ukraine, London, Britain, U.S ., Washington, Florida , Texas, California, United States, British, U.S

☆ Marshall Islands says US must address nuclear legacy for deal on future ties
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +3 min

[1/2] Marshall Islands' President David Kabua arrives to address the 78th Session of the U.N. General Assembly in New York City, U.S., September 20, 2023. REUTERS/Eduardo Munoz Acquire Licensing RightsUNITED NATIONS, Sept 20 (Reuters) - The president of the Marshall Islands said on Wednesday his Pacific island nation was "cautiously optimistic" it could soon finalize a deal on future ties with the United States, but repeated a call for Washington to address the legacy of massive nuclear testing in the 1940s and 50s. The Marshall Islands is one of three sparsely populated Pacific island nations covered by so-called Compacts of Free Association (COFAs) with the United States. The foreign minister of the Marshall Islands called in July for more U.S. money to deal with the nuclear legacy to enable the renewal of its COFA, the economic terms of which expire on Sept. 30. Chief U.S. negotiator Joseph Yun has proposed Congress approve the total amount by Sept. 30, even without a final agreement with the Marshall Islands.

Persons: David Kabua, Eduardo Munoz, MOUs, Joseph Yun, East Asia Daniel Kritenbrink, Joe Biden, David Brunnstrom, Lincoln Organizations: General Assembly, REUTERS, UNITED NATIONS, Marshall, Free Association, Pacific, United Nations General Assembly, Chief, East Asia, Marshall Islanders, U.S, White, Thomson Locations: Marshall, New York City, U.S, United States, Washington, Micronesia, Palau, China, Pacific, New York, Bikini

☆ Marshall Islands Says US Must Address Nuclear Legacy for Deal on Future Ties
▼ + stars: | 2023-09-20 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

UNITED NATIONS (Reuters) - The president of the Marshall Islands said on Wednesday his Pacific island nation was "cautiously optimistic" it could soon finalize a deal on future ties with the United States, but repeated a call for Washington to address the legacy of massive nuclear testing in the 1940s and 50s. The Marshall Islands is one of three sparsely populated Pacific island nations covered by so-called Compacts of Free Association (COFAs) with the United States. The foreign minister of the Marshall Islands called in July for more U.S. money to deal with the nuclear legacy to enable the renewal of its COFA, the economic terms of which expire on Sept. 30. Marshall Islands President David Kabua told the annual United Nations General Assembly in New York his country wanted to continue its free association with the United States but Washington "must realize that the Marshallese people require that the nuclear issue will be addressed." Chief U.S. negotiator Joseph Yun has proposed Congress approve the total amount by Sept. 30, even without a final agreement with the Marshall Islands.

Persons: David Kabua, MOUs, Joseph Yun, East Asia Daniel Kritenbrink, Joe Biden, David Brunnstrom, Lincoln Organizations: UNITED NATIONS, Reuters, Marshall, Free Association, Pacific, United Nations General Assembly, Chief, East Asia, Marshall Islanders, U.S, White Locations: United States, Washington, Marshall, U.S, Micronesia, Palau, China, Pacific, New York, Bikini

☆ Qatar to invest $5 billion in Iraq over coming years
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

DUBAI, June 15 (Reuters) - Qatar intends to invest $5 billion in a number of sectors in Iraq over the coming years, the state news agency quoted Qatar's Emir Sheikh Tamim bin Hamad al-Thani as saying on Thursday. In addition, a number of agreements were made with Qatar's private sector in the fields of energy, electricity, hotels and hospital management. Qatar is a partner in TotalEnergies' (TTEF.PA) $27 billion energy cluster of energy projects in Iraq, with a 25% stake. Qatar has said previously that, like other Gulf states, it would support regional economies through commercial investments rather by providing direct financial aid. Reporting by Clauda Tanios; Editing by Nick Macfie and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheikh Tamim bin Hamad, TotalEnergies, Clauda Tanios, Nick Macfie, Nick Zieminski Organizations: Basra Oil Company, Thomson Locations: DUBAI, Qatar, Iraq, Thani, Baghdad, Basra, TotalEnergies

☆ Qatar to invest $5 bln in Iraq over coming years
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

☆ Brazil paves way for semiconductor cooperation with China
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Brazil's President Luiz Inacio Lula da Silva gestures near First Lady Rosangela "Janja" da Silva during a visit to Huawei's Research and Development Centre in Shanghai, China, April 13, 2023. Ricardo Stuckert/Handout via REUTERSBEIJING, April 14 (Reuters) - China and Brazil agreed on Friday to set up a working group to pursue cooperation on semiconductors as the South American nation strengthens ties with Beijing in areas of sensitive technology. In an interview with Reuters, Lula's foreign policy advisor Celso Amorim said Brazil will not veto the installation of a Chinese semiconductor factory in Brazil, and is interested in developing the technology in cooperation with China. In the slew of MoUs China and Brazil agreed to "explore mechanisms to promote bilateral cooperation in scientific and technological research and industrial innovation." That would involve joint research and development activities between public, private and academic institutions, and the exchange of scientists and scientific papers.

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☆ With China looming, U.S. signs MoU with another Pacific island state
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

The State Department announcement means Washington has now signed MoUs on future assistance with three key Pacific island countries as it negotiates cooperation agreement renewals that gives the United States access to huge swaths of the Pacific for defense purposes. Washington said it signed MoUs last month with the Marshall Islands and Palau and reached consensus on terms of U.S. economic assistance, but Washington has not provided details. The U.S. move comes as Washington and its allies are concerned about China's military ambitions in the Indo-Pacific region. Under Compacts of Free Association (COFA) first agreed in the 1980s, Washington retains responsibility for the defense of the three island nations while providing them with economic assistance. Though the island nations still enjoy close ties to Washington, critics warn that a failure to finalize economic aid could spur them to look to China for funding or increased trade and tourism.

☆ Japan's JERA signs ammonia supply MOUs with Yara, CF Industries
▼ + stars: | 2023-01-17 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

FILE PHOTO: The logo of JERA Co., Inc., the world's biggest LNG buyer, is displayed at the company office in Tokyo, Japan July 14, 2017. REUTERS/Issei Kato(Reuters) - Japan’s biggest power generator JERA signed ammonia supply memorandums of understanding (MOUs) with CF Industries of the United States and Norway’s Yara Clean Ammonia Norge AS, as it aims to co-fire ammonia to reduce emissions, it said on Tuesday. Under the MOUs, JERA agreed with Yara and separately with CF Industries to look at the possibility of buying up to 500,000 tonnes of clean ammonia per year for the 20% co-firing operations at the Hekinan Thermal Power Plant Unit 4 in Japan. As part of the agreement, JERA and CF Industries, the world’s top ammonia producer, would study ‘potential supply options, including an equity investment alongside CF Industries to develop a greenfield clean ammonia facility in Louisiana, as well as a supplementary long-term offtake agreement from CF Industries’ Donaldsonville Complex in Louisiana, the U.S. company said separately. Yara and JERA also plan to collaborate on blue ammonia production in the U.S. Gulf and to produce more than 1 million tons per annum, according to a separate statement issued by Yara on Tuesday.

DUBAI, Dec 8 (Reuters) - Saudi Arabia and China have signed memorandums of understanding on hydrogen energy and the encouragement of direct investment between the two states, state news agency (SPA) said on Thursday, during a state visit by Chinese President Xi Jinping to Riyadh. Xi and Saudi Crown Prince Mohammed bin Salman also signed an agreement for harmonization between the kingdom's 2030 vision and Beijing's belt and road initiative, SPA added. Reporting by Riham Alkousaa; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Gulf states, looking East, to reinforce economic ties with China as Xi visits Saudi
▼ + stars: | 2022-12-06 | by ( Rachna Uppal | ) www.reuters.com time to read: +5 min

Saudi Arabia is China's top oil supplier, making up 18% of China's total crude oil purchases, and state-run Saudi Aramco has annual supply deals with half a dozen Chinese refiners. Outside energy, Gulf Cooperation Council (GCC) states provide markets for Chinese goods, construction contracts and investment opportunities in infrastructure, manufacturing and digital economies that fit Beijing's Belt and Road Initiative. Saudi Arabia and the UAE are also investing in future technologies as a pillar of economic diversification, which has gained impetus in a global transition away from fossil fuels. Online giant Alibaba has partnered with STC Group for cloud services in Saudi Arabia. BALANCING ACTHow Saudi Arabia and other Gulf states handle both Chinese and Western supply chains in sensitive areas like critical national infrastructure is likely to remain a point of friction with key security partner the United States, analysts say.

☆ British trade minister visits Washington
▼ + stars: | 2022-11-14 | by ( David Lawder | ) www.reuters.com time to read: +1 min

LONDON, Nov 14 (Reuters) - British trade minister Kemi Badenoch will visit Washington on Monday to meet politicians and address business representatives to try to boost ties with the United States even as talks over a free trade deal have stalled. A U.S. free trade deal was touted as the one of the biggest prizes for Britain leaving the European Union. But hopes of a quick agreement were dashed when the incoming Biden administration put all free trade talks on ice. In the absence of a broader trade deal with the United States, Britain has been working to secure memorandums of understanding with individual states. The state-level MOUs have been criticised by the opposition Labour Party as being no substitute for a full U.S.-UK trade deal.

☆ Analysis: Renewables shift lays bare Africa's energy dilemma
▼ + stars: | 2022-10-19 | by ( Bate Felix | ) www.reuters.com time to read: +7 min

Besides the 678-km West Africa gas pipeline completed in 2008, linking Nigeria, Benin, Togo and Ghana, few regional oil and gas projects exist to take products where they are needed. U.S. climate envoy John Kerry has cautioned against long-term oil and gas infrastructure investment in Africa, urging countries to turn to renewables instead. "Africa's track record for gas projects in this regard is not encouraging," the IEA said, citing delays in TotalEnergies' Mozambique project and in the Senegal-Mauritania gas project. "Funding requirements for the oil and gas industry in Africa far exceeds the capacity of any one individual country in Africa. Previous plans for major regional projects such as large-scale refineries have been thwarted by rivalries, ending in countries constructing small refineries that eventually failed, the expert added.

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