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☆ Singapore minister shares how the country plans to cut energy consumption for seawater desalination
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingapore minister shares how the country plans to cut energy consumption for seawater desalinationGrace Fu, Singapore's minister for sustainability and the environment, discusses the country's plan for water sustainability ahead of Singapore International Water Week.

Persons: Grace Fu Organizations: Email Singapore, Singapore International Water Locations: Grace, Singapore

☆ India's Zee Entertainment urges Sony to restore blockbuster merger, sues over termination
▼ + stars: | 2024-01-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Indian entertainment conglomerate Zee Entertainment on Wednesday said it urged Sony to revive their blockbuster entertainment merger and has sued the Japanese tech giant over the deal's termination. Sony earlier this week called of the transaction with Zee Entertainment, which is reported to be worth $10 billion. In a filing, Zee said it denies that Sony is entitled to call off the merger agreement and that its claim for a termination fee is "legally untenable and has no basis whatsoever." A merger of Zee with Sony's India subsidiary, Culver Max Entertainment Pvt. Sony would have gained access to Zee's local content, giving it a bigger footing in the lucrative Indian entertainment market.

Persons: Zee, Culver Max, BEPL, Punit Goenka, Arjun Kharpal Organizations: Zee Entertainment, Sony, Zee Entertainment Enterprises, Sony's, CNBC Wednesday, Culver, MCA, Company, Singapore International Arbitration Center, Zee, Culver Max Entertainment, Ltd, Bangla Entertainment, Disney, Reliance Industries Locations: India, Zee, Singapore, Sony's India

Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong delivers the Singapore Energy Lecture during the 15th Singapore International Energy Week, in Singapore October 25, 2022. REUTERS/Isabel Kua/File Photo Acquire Licensing RightsSINGAPORE, Nov 5 (Reuters) - Singapore Prime Minister Lee Hsien Loong on Sunday said he will hand leadership of the ruling People's Action Party to Deputy Prime Minister Lawrence Wong as soon as the party's 70th anniversary in November 2024, a year before an election is due. He has served as party secretary-general and prime minister since 2004 and last year chose Wong, who is also finance minister, as his successor. Therefore, I intend to hand over to DPM Lawrence before the next general election," Lee said at an annual party conference. He served as Lee's principal private secretary from 2005 to 2008 and led the education and national development ministries before becoming finance minister in 2021 and deputy prime minister last year.

Persons: Finance Lawrence Wong, Isabel Kua, Lee Hsien Loong, Lawrence Wong, Wong, Lee, Lee Kuan Yew, DPM Lawrence, Walid Jumblatt Abdullah, Chong Ja Ian, Chen Lin, Michael Perry, Christopher Cushing Organizations: Finance, Singapore Energy, Singapore International Energy, REUTERS, Rights, Singapore Prime, Party, Monetary Authority of, Nanyang Technological University, Still, National University of Singapore, Thomson Locations: Singapore, Rights SINGAPORE, Lawrence, Monetary Authority of Singapore

Aug 16 (Reuters) - Taiwan-based Silicon Motion on Wednesday blamed MaxLinear (MXL.O) for breaching their merger agreement and said it would seek damages in excess of the termination fee from the U.S. company. MaxLinear scrapped a nearly $4 billion cash-and-stock deal in July to acquire memory-controller maker Silicon Motion. MaxLinear may be required to pay Silicon Motion a termination fee of $160 million, according to the agreement in May last year. However, Silicon Motion would be liable to pay $132 million if the deal was terminated under some circumstances. Silicon Motion also said the company intends to resume declaring and paying dividends on an annual basis.

Persons: MaxLinear, MaxLinear's, Akash Sriram, Saumyadeb Organizations: U.S ., Singapore International, Thomson Locations: Taiwan, U.S, Delaware, Singapore, Bengaluru

☆ The scarcity of water is emerging as a global economic threat. With China and India looking the most at risk
▼ + stars: | 2023-06-13 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +6 min

Ghosh warned that water scarcity must not be viewed as a sectoral issue, but one that "transcends the entire economy." Asian economies "must understand that it is a regional common good and it is in their own interest to mitigate the risks that come their way in order to prevent the economic shocks that severe water scarcity will impose," he said. India, now the world's most populous nation, will be the hardest hit from water scarcity. "Water scarcity is not particularly problematic to these industries because a lot of the water can be recycled. The Gezhouba dam water conservancy project of the Yangtze River after heavy rain in Yichang, Hubei Province, China.

Persons: Ritesh Shukla, Arunabha Ghosh, It's, Ghosh, Shanshan Wang, Wang, Wayne Middleton, Arup Organizations: Getty, Council, Energy, CNBC, World Bank, Lowy Institute, Arup, Visual China, Getty Images, Water, Future Publishing Locations: Peth, India, China, Asia, Philippines, Singapore, Kunming, Yunnan Province, Getty Images India, Taiwan, Yichang, Hubei Province

Thailand was the most popular outbound destination for Chinese travelers during the May labour day holiday, data from website Trip.com showed, followed by Japan and South Korea. "There is definitely demand from China for properties in Thailand," said Mesak Chunharakchot, the president of the Thai Real Estate Association. "Chinese are buying houses, sending their children to international schools and having their parents come stay in Thailand to take care of the grandkids." Nearly 270,000 Chinese tourists visited Thailand in March, government data shows, a three-year high, though well below the figure of 985,227 in March 2019, before the pandemic took hold. Therefore some would sell one of the houses in China and buy a property here for retirement."

☆ Dow said it was recycling our shoes. We found them in Indonesia
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +19 min

While the sample was small, the fact that none of these shoes made it to a Singapore recycling facility underscores weaknesses in the system. Dow said these builds will use the 10,000 kilograms (22,000 pounds) of recycled shoe material that have been produced through the Singapore recycling project so far. Reuters had dropped those shoes into a Dow recycling bin at a Singapore community center in September, three months earlier. Recycling flopsThis is not the first novel recycling scheme launched by Dow that hasn’t lived up to its billing. In its Jan. 18 statement, Dow said the shoe recycling partners are “energized by the common vision of sport championing a greener and more sustainable Singapore.” Dow did not comment on the Journal of Consumer Psychology study.

☆ Oil falls by more than $1/bbl as demand fears linger
▼ + stars: | 2022-10-25 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

REUTERS/Andrew KellyLONDON, Oct 25 (Reuters) - Oil prices fell by more than $1 per barrel on Tuesday as bearish economic data from key global economies heightened demand fears. Register now for FREE unlimited access to Reuters.com RegisterSupply and demand fundamentals remain largely stable, leaving economic sentiment centre-stage for the oil market, said Vandana Hari, founder of oil market analysis provider Vanda Insights. Signs of uncertain economic activity in the United States and China, the world's two biggest oil consumers, continued to weigh on prices on Tuesday. Government data on Monday showed China's crude oil imports in September were 2% lower than a year earlier, continuing a trend of lower imports at the same time it reported slowing retail sales. U.S. crude oil inventories are also expected to rise this week, which may limit price gains.

☆ Oil rises as U.S. dollar loses steam though demand fears linger
▼ + stars: | 2022-10-25 | by ( Mohi Narayan | ) www.reuters.com time to read: +3 min

International benchmark Brent crude futures gained 3 cents to $93.29 per barrel by 0652 GMT, after falling 0.3% in the previous session. U.S. West Texas Intermediate crude futures for December delivery rose 11 cents to $84.69 per barrel, after a previous decline of 0.6%. Supply and demand fundamentals remain largely stable, leaving economic sentiment at the centre-stage for the oil market, Hari added. U.S. crude oil inventories are also expected to rise this week, which may limit price gains. Analysts polled by Reuters estimated on average that crude inventories rose by 200,000 barrels in the week to Oct. 21.

☆ Singapore plans to reduce peak emissions to 60 mln tonnes CO2 in 2030
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong delivers the Singapore Energy Lecture during the 15th Singapore International Energy Week, in Singapore October 25, 2022. REUTERS/Isabel KuaSINGAPORE, Oct 25 (Reuters) - Singapore plans to reduce its peak carbon emissions target for 2030 to 60 million tonnes of carbon dioxide as the city state strives to achieve net zero by 2050, Deputy Prime Minister Lawrence Wong said on Tuesday. The country had previously aimed for a reduction to 65 million tonnes of CO2 equivalent in 2030. "This 5 million tonne improvement is significant as it is equivalent to reducing our current transport emissions by two thirds," Wong said at the Singapore International Energy Week conference. Register now for FREE unlimited access to Reuters.com RegisterReporting by Emily Chow and Florence Tan; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Dr. Fatih Birol, Executive Director of the International Energy Agency speaks during the 15th Singapore International Energy Week, in Singapore October 25, 2022. REUTERS/Isabel KuaSINGAPORE, Oct 25 (Reuters) - Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of "the first truly global energy crisis", the head of the International Energy Agency (IEA) said on Tuesday. But Birol also said the current energy crisis could be a turning point in the history of energy for accelerating clean energy sources and for forming a sustainable and secured energy system. "Energy security is the number one driver (of the energy transition)," said Birol, as countries see energy technologies and renewables as a solution. Register now for FREE unlimited access to Reuters.com RegisterReporting by Florence Tan, Muyu Xu and Emily Chow; Editing by Jacqueline Wong and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ World is in its ‘first truly global energy crisis,’ says IEA chief
▼ + stars: | 2022-10-25 | by ( ) edition.cnn.com time to read: +3 min

Singapore CNN Business —Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis,” the head of the International Energy Agency (IEA) said on Tuesday. For oil, consumption is expected to grow by 1.7 million bpd in 2023 so the world will still need Russian oil to meet demand, Birol said. “I think this is good because the world still needs Russian oil to flow into the market for now. Energy security drives renewables growthThe energy crisis could be a turning point for accelerating clean sources and for forming a sustainable and secured energy system, Birol said. “Energy security is the number one driver (of the energy transition),” said Birol, as countries see energy technologies and renewables as a solution.

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