Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "FATIH"


25 mentions found


The electric car revolution is on track, says IEA
  + stars: | 2024-04-23 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +4 min
“The continued momentum behind electric cars is clear in our data, although it is stronger in some markets than others,” IEA executive director Fatih Birol said in a statement. Last year, global EV sales grew 35% to almost 14 million. “Intensifying market competition and improving battery technologies are expected to reduce (EV) prices in the coming years,” the IEA said. “Growing electric car exports from Chinese automakers, which accounted for more than half of all electric car sales in 2023, could add to downward pressure on purchase prices,” it added. By 2030, almost one in three cars on the roads in China is set to be electric, according to the IEA.
Persons: , Tesla, , Fatih Birol, China’s BYD, Brandon Bell, EVs, ” Birol Organizations: London CNN — Global, International Energy Agency, IEA, Li, Getty, European Union, EV, Volkswagen, Audi, BMW Locations: China, Chinese, Germany, United States, Austin , Texas, EVs, Europe
Amid preparations for its spaceplane's maiden flight and an initial public offering as soon as next year, Sierra Space is expanding its satellite offerings. "We've actually been waiting for six months, so it's like, this [name], we really thought about it," Tom Vice, Sierra Space chief executive said in an interview for CNBC's "Manifest Space" podcast. Valued at $5.3 billion as of September, Sierra Space was spun out of defense contractor Sierra Nevada Corporation three years ago. Sierra Space touts a diverse space and defense tech portfolio spanning space transportation, space habitation, propulsion and satellites. It's perhaps best known for its NASA-contracted, reusable spaceplane Dream Chaser which will run cargo resupply missions to the International Space Station and eventually carry humans to and from orbit.
Persons: We've, Tom Vice, Eren, Jeff Bezos Organizations: Space, Sierra Space, Sierra Nevada Corporation, Fatih, NASA, International Space Station, Pentagon, U.S, FAA
Some climate activists accuse the industry of simply investing in carbon capture as way to extend the use of oil and gas. The technology typically uses chemical absorption to capture carbon dioxide emitted from the chimney of an industrial plant. "The economic viability of carbon capture and sequestration is a challenge today because the cost of building most plants in order to capture carbon dioxide are very significant," the executive said. About two-thirds of the industry's carbon dioxide emissions come from chemical reactions that occur when breaking down limestone. SLB this month announced a nearly $400 million investment in Aker Carbon Capture, a pure-play carbon capture company based in Norway, in an effort to accelerate deployment of the technology at commercial scale.
Persons: Chin Lee, Biden, SLB, Fred Majkut, Majkut, Adam Miklos, Miklos, Baker Hughes, Olivier Le Peuch, Alessandro Bresciani, Jeff Gustavson, Gustavson, steelmaker Nucor, Linde, Dan Ammann, Ammann, Fatih Birol, We're, SLB's Majkut Organizations: Chevron, Houston Chronicle, Hearst Newspapers, Department of Energy, RTI International, International Energy Agency, Exxon, Rystad Energy, Clean Investment Monitor, United Nations ., Gulf Coast, CF Industries, Talos Energy, Carbonvert, IEA Locations: Winnie, Mississippi, Vicksburg, Schlumberger, United States, Paris, Chevron, United Kingdom, U.S, Aker, Norway, Houston, Port Arthur , Texas, Gulf, Louisiana, Beaumont , Texas, Mississippi , Louisiana, Texas, Bayou, Port Arthur
NEW YORK, US - JANUARY 03: Sam Bankman-Fried leaves the court in New York, on January 03, 2023. The victim, who wrote that 30 years worth of savings had been deposited into FTX three months before the exchange collapsed, is part of a last-minute push by prosecutors to sway Judge Kaplan ahead of the sentencing. For months, Judge Kaplan has been weighing the appropriate punishment for Bankman-Fried's crimes related to the implosion of his $32 billion crypto empire. Damaging testimonyBankman-Fried was convicted of wire fraud and conspiracy to commit wire fraud against FTX customers and against lenders to sister hedge fund Alameda Research, as well as conspiracy to commit securities fraud and conspiracy to commit commodities fraud against FTX investors, and conspiracy to commit money laundering. The defense team has argued that Bankman-Fried's sentence should reflect the potential that FTX customers will be paid back in part or in full.
Persons: Sam Bankman, Fried, Fatih Aktas, District Judge Lewis Kaplan, FTX, Kaplan, Yesha Yadav, Dean, Judge Kaplan, David Weinstein, Jones Walker, Weinstein, Mark Bini, Bini, Reed, Caroline Ellison, Yadav, Neama Rahmani, Tre Lovell, isn't, Lovell, he's, it's Organizations: Anadolu Agency, Getty, Department of Justice, U.S, District, Prosecutors, Vanderbilt University, CNBC, Alameda Research, Bloomberg, Southern, of, Los Locations: New York, Manhattan, of New York, SBF, Los Angeles
Two men accused in the terrorist attack on a Moscow concert hall spent time in Istanbul just weeks before the assault, a senior Turkish security official said on Tuesday, adding that the shortness of the men’s visits suggested that they had not been radicalized in Turkey. The information came on the same day that the Turkish Interior minister, Ali Yerlikaya, wrote on the platform X that the Turkish security services had caught 147 people alleged to have connections to the Islamic State since last June. Mr. Yerlikaya did not say how many of those suspects had been apprehended since the concert hall attack in Moscow last week or whether any of those previously arrested were believed to have links to that attack. Speaking on condition of anonymity because of government protocols, the senior security official said that one of the attack suspects who traveled to Turkey, Saidakrami Rachabalizoda, arrived in Istanbul on Jan. 5 and spent 16 days in a hotel in the city’s Fatih District. He left for Moscow on March 2, the official said.
Persons: Ali Yerlikaya, Yerlikaya, Saidakrami Rachabalizoda Organizations: Islamic, Mr, Moscow Locations: Moscow, Istanbul, Turkish, Turkey, Islamic State, Jan, city’s Fatih District
Nick Oxford | ReutersSenior U.S. lawmakers believe the International Energy Agency has "strayed from its core mission" of safeguarding energy security and has emerged as a "cheerleader" for the green transition. "We would argue that in recent years the IEA has been undermining energy security by discouraging sufficient investment in energy supplies — specifically, oil, natural gas, and coal. Consequently, the IEA must conduct its energy security mission in an objective manner. "It should disturb you that biased parties are exploiting the IEA's forecasts and other products to advocate for policies that undermine energy security." The IEA on Thursday confirmed receipt of the letter to CNBC and stressed that its mandate remains maintaining energy security and accelerating clean energy transitions.
Persons: Nick Oxford, Republican Sen, John Barrasso, Cathy McMorris Rodgers, Fatih Birol Organizations: Midland , Texas U.S, Reuters Senior U.S, International Energy Agency, Republican, U.S ., Energy, Natural Resources, U.S . House, Commerce, IEA, U.S, CNBC, U.S . Congress, Organization of, Petroleum, OPEC, Congress Locations: Midland , Texas, Wyoming, Saudi Arabia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIEA criticizes 'major gap' between Big Oil’s fossil fuel and clean energy investmentsFatih Birol, executive director at the International Energy Agency, discusses the transition strategies of oil and gas majors.
Organizations: IEA, Fatih, International Energy Agency
ISTANBUL (AP) — Turkey’s first astronaut returned home to a hero’s welcome Monday, portrayed as a symbol of the country’s advances in technology and aerospace. Alper Gezeravci was greeted by bouquet-laden children at Ankara’s Esenboga Airport as he returned from a private three-week mission to the International Space Station. His space flight, for which Turkey paid roughly $55 million, was the third such journey organized by Houston-based Axiom Space with NASA and SpaceX. A new page has been opened in space science and technologies for Turkey.”Turkey established its own space agency in 2018, and said it will land on the moon by 2026. They enjoyed a few extra days at the space station, waiting for the weather to improve in the splashdown zone.
Persons: — Turkey’s, Gezeravci, Recep Tayyip Erdogan, Erdogan, , Mehmet Fatih Kacir, Walter Villadei, Sweden’s Marcus Wandt, Michael Lopez, Alegria Organizations: Ankara’s, International Space, Turkey, NASA, SpaceX, ” Industry, Technology Locations: ISTANBUL, Turkish, Turkey, , Florida, Houston, ” Turkey
ANKARA, Turkey (AP) — The work to tame inflation in Turkey — namely through interest rate hikes — will continue “with determination,” the country’s new central bank chief said Thursday, offering some certainty about efforts to right the battered economy following his precedessor's surprise resignation. The duty of the central bank is to ensure and maintain price stability,” Karahan told reporters in Turkey’s capital, Ankara. Erdogan, who has previously fired central bank governors who spurned his unorthodox policies, appointed the new economic team after getting reelected in May. The Turkish central bank most recently raised its key interest rate by 2.5 percentage points in January, when inflation reached nearly 65%. Despite such hikes, inflation remains high — consumer prices rose to an eye-watering 64.86% in January from a year earlier, according to figures released Monday, up from 64.77% in December.
Persons: Fatih Karahan, Goldman Sachs, Karahan, Mehmet Simsek, ” Karahan, Hafize Gaye Erkan, , Erkan, Recep Tayyip Erdogan's, Erdogan, ___ Robert Badendieck Organizations: Finance, Turkish Locations: ANKARA, Turkey, Ankara, Turkish, Ukraine, Istanbul
Turkey's newly appointed central bank governor Fatih Karahan has his work cut out for him, named to the job by presidential decree over the weekend after the sudden resignation of his predecessor, Hafize Gaye Erkan. Previously the central bank's deputy governor, Karahan's resume features years spent in prominent American institutions and companies. Turkey's consumer price index print came out Monday showing a roughly 65% increase year-on-year for the month of January. Its central bank has made eight consecutive interest rate hikes since May 2023 — for a cumulative 3,650 basis points — in an effort to rein in soaring inflation. While painful for the country, investors and economists say the rate hikes have been necessary and that continuity in monetary policy priorities will engender confidence in the new central bank chief.
Persons: Turkey's, Fatih Karahan, Hafize Gaye Erkan, Karahan's, , Karahan Organizations: University of Pennsylvania, Federal Reserve Bank of New, Columbia University, New York University, Amazon, greenback Locations: Federal Reserve Bank of New York, Turkish
ISTANBUL (AP) — Turkey has seen its fifth central bank leader depart in as many years as Hafize Gaye Erkan, the first woman in the top role, stepped down after just eight months in the job. Photos You Should See View All 45 ImagesHere are key things to know about the central bank shakeup and what it means for Turkey's battered economy:WHY IS THERE A NEW CENTRAL BANK LEADER? Erkan resigned after weeks of media stories about her father’s undue influence in the central bank’s Istanbul office. Previous changes in central bank leadership has seen Erdogan row back on efforts to bring inflation under control through interest rate hikes. He was brought in as the bank’s deputy head at the same time Simsek took over the Finance Ministry and Erkan was appointed to lead the central bank.
Persons: Hafize Gaye Erkan, Goldman Sachs, Recep Tayyip Erdogan, — Erkan, , Fatih Karahan, Mehmet Simsek, Erdogan, Erkan, Karahan, Simsek's, Simsek, Liam Peach, Selcuki, ” “ It’s, ” Selcuki Organizations: , Finance, WHO, FATIH, Finance Ministry, University of Pennsylvania, Federal Reserve Bank of New, Amazon, Capital Economics, Istanbul Economy Research Locations: ISTANBUL, — Turkey, Turkey, Istanbul, Simsek, U.S, Federal Reserve Bank of New York, Columbia, New York, Ankara
Turkey central bank chief quits, citing need to protect her family
  + stars: | 2024-02-03 | by ( ) www.cnbc.com   time to read: +3 min
Turkish Central Bank Governor Hafize Gaye Erkan answers questions during a news conference for the Inflation Report 2023-III in Ankara, Turkey on July 27, 2023. Anadolu Agency | Anadolu Agency | Getty ImagesTurkey's central bank governor Hafize Gaye Erkan resigned on Friday, citing a need to protect her family amid a "reputation assassination", and she was swiftly replaced by a deputy who is expected to carry on her tight policy stance. The first woman to lead the central bank, Erkan was its fifth governor in as many years. Since then the central bank had hiked its key rate to 45% from 8.5%. Last month, opposition newspaper Sozcu published an article about a central bank employee who said she was wrongfully dismissed from the bank by Erkan's father.
Persons: Turkish Central Bank Governor Hafize Gaye Erkan, Hafize Gaye Erkan, Tayyip Erdogan, Erkan, Fatih Karahan, Erdogan, Sozcu, Erkan's Organizations: Turkish Central Bank Governor, Anadolu Agency, Getty, Official Gazette, Turks, Federal Reserve Bank of New Locations: Ankara, Turkey, Federal Reserve Bank of New York, U.S
President Recep Tayyip Erdogan of Turkey appointed a new central bank governor early Saturday, hours after the abrupt resignation of his previous appointee, who said she was stepping down because of “a major reputation assassination campaign.”The departing central bank chief, Hafize Gaye Erkan, was the fifth in five years, and the first woman to hold the post. The bank’s deputy governor, Fatih Karahan, was swiftly promoted to take her place. The surprise change-up came about eight months into a shift in Turkey’s economic program aimed at taming a yearslong cost-of-living crisis that has been painful for many Turks. Annual inflation as of last month was about 65 percent. In an apparent effort to reassure investors, senior officials said that Ms. Erkan’s departure did not signal a change in policy.
Persons: Recep Tayyip Erdogan, , Hafize Gaye Erkan, Fatih Karahan, Erkan’s Locations: Turkey
Oil prices edged higher on Thursday as OPEC forecast relatively strong growth in global oil demand over the next two years and a cold blast in the U.S. disrupted some oil production. OPEC, in a monthly report, said world oil demand will rise by a robust 1.85 million barrels per day (bpd) in 2025 to 106.21 million bpd. For 2024, OPEC saw demand growth of 2.25 million bpd, unchanged from its forecast in December. Meanwhile, in North Dakota, a top oil-producing U.S. state, below-zero degrees Fahrenheit temperatures caused oil output there to fall by 650,000 to 700,000 bpd, to less than half its typical output, the state said. Domestic crude stockpiles rose last week by 480,000 barrels, according to market sources citing American Petroleum Institute figures on Wednesday.
Persons: Fatih Birol Organizations: Brent, U.S . West Texas, American Petroleum Institute, International Energy Agency, Reuters Global Locations: U.S, North Dakota, Africa, United States, Yemen, Iran, Gaza
IEA chief welcomes ‘unstoppable’ growth of clean energy
  + stars: | 2024-01-17 | 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 EmailIEA chief welcomes ‘unstoppable’ growth of clean energyIEA Executive Director Fatih Birol discusses the state of play in the energy transition and his reflections on the COP28 climate talks.
Persons: Fatih Birol Organizations: IEA
The United States and more than 20 other countries plan to triple nuclear power by 2050 to achieve net-zero carbon emissions and limit climate change. The declaration is the most concrete step taken yet by major nations to place nuclear power at the center of the push to transition to clean energy. The head of the International Energy Agency, Fatih Birol, said last month that nuclear energy is making a "very strong comeback," but government support is needed for projects. More than 40% of the 61 nuclear plants currently under construction are in China, according to the World Nuclear Association. India and Russia are also investing heavily in nuclear power.
Persons: John Kerry, Rafael Mariano Grossi, Fatih Birol Organizations: United Arab Emirates, International Atomic Energy Agency, International Energy Agency, World Nuclear Association . India, CNBC PRO Locations: Dubai, United Arab, United States, U.S, Canada, France, United Kingdom, Japan, China, Finland, Korea, Pakistan, Russia
And yet, even as the climate crisis inserts itself viscerally into people’s lives, experts say the year has seen alarming backsliding on climate action. Green policies have been watered down, huge new oil and gas projects have been greenlit and coal has had something of a resurgence. As countries gather in Dubai for the UN’s COP28 climate summit, there are “high expectations,” said Harjeet Singh, the head of global political strategy at nonprofit Climate Action Network International. It sent worrying signals about climate backtracking, said Elisa Giannelli, a senior policy advisor at climate think tank E3G. Around 50% of its total capital spending needs to go toward clean energy projects by 2030, according to the report.
Persons: , Harjeet Singh, Kaveh Guilanpour, Singh, Biden, , Erik Grafe, Joe Biden, Countess, Norway —, Elisa Giannelli, “ It’s, Rishi Sunak, Joeri Rogelj, Flora Champenois, It’s, Bernd Lauter, ” Rogelj, Darren Woods, Bernard Looney, Fatih Birol, Guilanpour, Claire Fyson, ” Fyson, “ we’re, ” CNN’s Ella Nilsen, Ivana Kottasová, Gan Organizations: CNN, United Nations, Action, , Climate, Energy Solutions, US Department of Interior, Imperial College London, Global Energy Monitor, GEM, Getty, BP, Chevron, ExxonMobil, Shell, Exxon, IEA, Climate Analytics Locations: Canada, Libyan, Dubai, Alaska, Washington ,, Australia, Norway, Europe, Germany, China, Asia, Ukraine, Eschweiler, COP28
The Organization of Petroleum Exporting Countries on Monday said the oil and gas industry is being unjustly vilified ahead of a pivotal United Nations conference on the climate crisis later this week. OPEC Secretary General Haitham Al Ghais pushed back against accusations that the industry is not doing enough to reduce carbon emissions. The industry was taken to task last week for its role in the climate crisis and its commitment to clean energy by the Paris-based International Energy Agency (IEA). Just 1% of global investment in clean energy comes from the oil and gas industry, according to the IEA. Al Ghais also said oil and gas companies are making major investments in renewables and technologies that reduce emissions.
Persons: Haitham Al Ghais, who's, Al Ghais, Fatih Birol, Birol Organizations: OPEC, of Petroleum, United Nations, International Energy Agency, Change, United Arab, UAE, Exxon, Chevron, Natural Resources, IEA, Producers, Occidental Petroleum, U.N Locations: Russia, Paris, Kuwaiti, United Arab Emirates, U.S, Al
Less than half of oil-and-gas output globally comes from companies that have set targets to reduce emissions from operations, the IEA said. In addition, cutting emissions from oil-and-gas companies’ operations and energy usage is “one of the cheapest options to reduce GHG [greenhouse gases] emissions generally,” the IEA said. As of today, less than half of oil-and-gas output globally comes from companies that have set targets to reduce emissions from operations, the IEA said. Total energy investment is estimated at $2.8 trillion in the current year, with around $1.8 trillion on clean energy and $1 trillion on oil, gas and coal. In its net-zero scenario, the IEA forecasts annual fossil fuel investment dropping by $500 billion to 2030 and clean-energy investment increasing by more than $2 trillion.
Persons: turar, Fatih Birol, , ” Birol, Giulia Petroni Organizations: Reuters, United Arab, International Energy Agency, IEA, giulia.petroni@wsj.com Locations: United Arab Emirates, decarbonization, Paris
London CNN —Oil and gas producers must confront a “pivotal” choice: continue to accelerate the climate crisis or become part of the solution, the International Energy Agency said in a report Thursday. “The oil and gas industry is facing a moment of truth at COP28 in Dubai,” IEA Executive Director Fatih Birol said in a statement. This pollution needs to be cut by more than 60% by 2030 from today’s level, the IEA report says. The industry invested around $20 billion in clean energy projects last year — only around 2.5% of its total capital spending, the IEA found. Such an increase would mean a radical change in how oil and gas firms spend their cash.
Persons: Fatih Birol, Birol, ” Birol, what’s, Kaisa Kosonen Organizations: London CNN —, International Energy Agency, United, and Gas Industry, IEA, Greenpeace International Locations: COP28, United Nations, Dubai
Oil and gas companies, as well as other people and organizations connected to fossil fuels, often attend the meeting, drawing criticism from environmentalists and climate experts. “Oil and gas producers need to make profound decisions about their future place in the global energy sector." Political Cartoons View All 1265 ImagesThe energy sector is responsible for over two-thirds of all human activity-related greenhouse gas emissions, and oil and gas is responsible for about half of those, according to the IEA. It found that if countries deliver on all climate pledges, demand for oil and gas will be 45% lower than today’s level by 2050. Earlier this year, another IEA report found that the world’s oil, gas and coal demand will likely peak by the end of this decade.
Persons: , Fatih Birol, Vibhuti Organizations: International Energy Agency, United Nations, IEA, , Associated Press, Abu Dhabi National Oil Company, IEA ., Institute for Energy Economics, Twitter, AP Locations: United, COP28, Dubai, Egypt, Abu Dhabi, New Delhi
The Gorgon liquefied natural gas (LNG) and carbon capture and storage (CCS) facility, operated by Chevron Corp., on Barrow Island, Australia, on Monday, July 24, 2023. The oil and gas industry needs to let go of the "illusion" that carbon capture technology is a solution to climate change and invest more in clean energy, the head of the International Energy Agency said Thursday. Just 1% of global investment in clean energy has come from oil and gas companies, according to Birol. The industry needs to face the "uncomfortable truth" that a successful clean energy transition will require scaling back oil and gas operations, not expanding them, the IEA chief wrote. One of the major pitfalls in the energy transition is excessive reliance on carbon capture, according to the report.
Persons: Fatih Birol, Birol, Hess Organizations: Chevron Corp, International Energy Agency, United Nations, IEA, Exxon Mobil, Chevron, Shell, BP, Exxon, Resources Locations: Barrow Island, Australia, Dubai
Former Sierra Space employees told CNBC that the layoffs included a significant number of contractors, with the cuts including hundreds of personnel in total. Sierra Space this week shipped the first Dream Chaser, named Tenacity, for pre-launch testing at NASA's Armstrong facility in Ohio. The first Dream Chaser launch was previously scheduled for late last year, but delays in the development of United Launch Alliance's Vulcan rocket pushed back that timeline. Dream Chaser is planned to launch on ULA's second Vulcan mission, with the first Vulcan launch targeting December. Dream Chaser has won NASA contracts to fly seven cargo missions to and from the International Space Station.
Persons: Eren, Sierra, Jeff Babione, Gupta Organizations: CNBC, Sierra Space, NASA's Armstrong, Sierra, Sierra Nevada Corp, Fatih, Sierra Space's, Space, NASA Space Shuttle, United, Vulcan, NASA, International Space Locations: The Colorado, Sierra, Ohio
CNN —Hundreds of pro-Palestinan protesters snarled Manhattan traffic and curtailed people’s access to Grand Central Terminal as they demonstrated in New York City on Friday night, in part demanding a ceasefire in the Israel-Hamas war. The demonstrations temporarily closed access to the terminal, one of the city’s largest transportation hubs, the Metropolitan Transportation Authority’s Metro-North Railroad said online Friday night. Video also showed police keeping demonstrators back from The New York Times building on Friday. One night earlier, several protesters occupied the building’s lobby, and some of them were arrested Thursday night, police said. By 10 p.m. Friday, many of the protesters had left the Grand Central Terminal area while police officers remained for security reasons.
Persons: , Israel, Fatih Aktas, Amin Jaludi, ” Jaludi, , Artemis Moshtaghian, Zenebou Sylla, Matt Friedman, Skylar Harris Organizations: CNN, Grand, Palestine, Grand Central, Metropolitan Transportation Authority’s, Railroad, New York Police Department, NYPD, Hamas, Palestinian Ministry of Health, Getty, The New York Times Locations: Manhattan, New York City, Israel, Columbus, Gaza, Ramallah, New York, Anadolu, Palestine, America
The U.N. has previously noted that 1.5 degrees Celsius is viewed as being "the upper limit" when it comes to avoiding the worst consequences of climate change. The COP28 climate change summit is fast approaching, with a host of world leaders and high-profile public figures — including Pope Francis and King Charles III — set to attend. The IEA's report also mentioned the importance of "ramping up electrification" before touching upon the need to find solutions that benefit all. But "this package of global measures provides crucial ingredients for any successful outcome from the COP28 climate change conference in Dubai in December." "I encourage decision makers around the world to take this report's findings into account — in the lead-up to the COP28 climate change conference in Dubai later this year and beyond."
Persons: , COP28, Pope Francis and King Charles III —, Fatih Birol Organizations: International Energy Agency, COP21, United Arab Emirates, Energy, World Energy, Fatih Locations: Germany, Paris, Dubai
Total: 25