DIRS.INFO The most relevant business & tech news

☆ Shell makes risky pitch for the middle ground
▼ + stars: | 2023-06-14 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

He has stressed that Shell, currently trading around five times expected 2024 earnings compared to twice that for its U.S. peers, merits more generosity. Shell will hike its dividend by 15% and spend $1 billion more on buybacks, starting in the second quarter. He will invest $10 billion to $15 billion in so-called low-carbon solutions like biofuels and hydrogen between 2023 and 2025. Equally, Wednesday’s plan will disappoint climate-focused shareholders, who currently form roughly 15% of Shell’s investor register based on recent votes on emission cuts. Shell shares have outperformed both U.S. and European rivals since Sawan took over in January.

Persons: Wael Sawan’s, Sawan, Jefferies, George Hay, Pranav Kiran Organizations: Reuters, Shell, Chevron, Exxon Mobil, BP, International Energy Agency, Thomson Locations: U.S, New York, divestments, Namibia, New York City

☆ China's efforts to catch up in global electronic spying race
▼ + stars: | 2023-06-14 | by ( Greg Torode | ) www.reuters.com time to read: +5 min

Aside from monitoring capabilities, a large, permanent presence on Cuba "is an important symbol, getting right under the noses of the U.S. and reflecting China's global ambitions", he said. In 2019, Reuters reported that China's military was running a space monitoring station in Argentina. Regional diplomats say that as China builds a global military intelligence network, it lacks a U.S.-style system of alliances and partnerships that can help discreet surveillance efforts. China's defence ministry declined to comment. "This trend is only going to grow alongside China's global reach," said Singapore-based defence analyst Alexander Neill.

Persons: Diego Garcia, Carl Thayer, China's, Antony Blinken, Alexander Neill, Greg Torode, Kirsty Needham, Laurie Chen, Gerry Doyle Organizations: People's Liberation Army, Australian Defence Force Academy of, Australian National University, PLA, Reuters, Defence, South China, International Institute for Strategic Studies, China, Support Force, Pentagon, Thomson Locations: HONG KONG, China, Cuba, Beijing, United States, U.S, Britain, Canada, Australia, New Zealand, Taiwan, Guam, British, CUBA, Coast, Florida, Russia, Moscow, Argentina, CHINA, Hainan, South, Southeast Asia, London, Namibia, Pakistan, Kenya, Myanmar, Sri Lanka, Tanzania, Angola, China's, Singapore, Sydney

[1/2] A Shell logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. His more cautious approach to the energy transition marks a change in tack from his predecessor Ben van Beurden who introduced the carbon reduction targets and the energy transition strategy. It is also exiting its European power retail businesses, which were seen only a few years ago as key to its energy transition. At the same time, Shell reported record profits of $40 billion last year on the back of strong oil and gas prices. Sawan previously flagged that the 2021 target to cut oil output by 20% the end of the decade was under review.

Persons: Denis Balibouse, Sawan, Wael Sawan's, Ben van Beurden, Shell, Bernard Looney, Lucas Herrmann, Herrmann, Ron Bousso, Elaine Hardcastle Organizations: European Business Aviation Convention, REUTERS, Shell, LONDON, BP, Reuters Graphics Reuters, U.S, Exxon Mobil, Chevron, Investors, Thomson Locations: Geneva, Switzerland, New York, Shell, Lebanese, Namibia, London

☆ Reaction: Biden, McCarthy debt ceiling deal
▼ + stars: | 2023-05-28 | by ( ) www.reuters.com time to read: +4 min

WASHINGTON, May 27 (Reuters) - U.S. President Joe Biden and top congressional Republican Kevin McCarthy have reached a tentative deal to raise the federal government's $31.4 trillion debt ceiling, ending a months-long stalemate. DEMOCRATIC REPRESENTATIVE TED LIU"Tonight, I have been informed that there is an agreement in principle between the White House and House Republicans. This was a House Republican manufactured crisis. REPUBLICAN REPRESENTATIVE BOB GOOD "I am hearing the 'deal' is for a $4 trillion increase in the debt limit. "If we didn't reach a deal … the average American person would clearly see a hit ... we had to reach some kind of conclusion here."

☆ Cheetah Deaths in India Mar Reintroduction Efforts
▼ + stars: | 2023-05-19 | by ( Hari Kumar | Sameer Yasir | ) www.nytimes.com time to read: +1 min

For centuries, cheetahs roamed vast swaths of India and prowled among lions, tigers and leopards. Last year, the Indian government sought to bring cheetahs back by reintroducing the species to the country, bringing 20 in from South Africa and Namibia. In the latest case, a female cheetah was killed during a violent interaction with two older males after they were put in the same enclosure for the purpose of mating. Another male cheetah brought from South Africa in February died of apparent heart failure last month. And a female from the Namibia group, consisting of five males and three females, died of a suspected kidney ailment in March.

☆ Why Some Countries Find It Hard to Move Away From Fossil Fuels
▼ + stars: | 2023-05-15 | by ( Clifford Krauss | ) www.nytimes.com time to read: +1 min

It is one of the largest producers of fossil fuels in the Western Hemisphere, and more than a century of drilling has left its mark. The major highways on the main island are clogged by traffic and lined with industrial warehouses. If Trinidad seems to be zigging and zagging on climate change policy, it is hardly the only one. Saudi Arabia, the United Arab Emirates and the United States are also building large solar farms while exploring for new oil gushers. Industrialized countries are still producers and users of fossil fuels and have failed to put up the $100 billion a year they had pledged to a green fund for poor nations starting in 2020.

☆ Debt ceiling: Denmark has one, too. It's never been a problem
▼ + stars: | 2023-05-09 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

President Joe Biden will host Republican House Speaker Kevin McCarthy and other congressional leaders at the White House on Tuesday for a critical meeting on raising the US debt ceiling. The closest analogue to the US debt ceiling is the set-up in Denmark. Lawmakers did not want the debt ceiling to become a proxy for difficult conversations about the government’s fiscal plans. That makes it less likely the debt ceiling could be turned into a political football. Even so, it’s clear that in Denmark, the debt limit has enabled the smooth functioning of government, Kirkegaard said.

☆ "We're being hounded" - French transgender sprinter decries Olympics ban
▼ + stars: | 2023-05-09 | by ( Noemie Olive | ) www.reuters.com time to read: +3 min

[1/2] French sprinter Halba Diouf, 21, a transgender woman athlete who dreams to compete at the Paris 2024 Olympics and Paralympics Games, attends a practice session on an athletics track in Aix-en-Provence, France May 3, 2023. REUTERS/Gonzalo FuentesAIX-EN-PROVENCE, France, May 9 (Reuters) - French sprinter Halba Diouf feels she is being marginalised and hounded after her dream of participating at next year's Paris Olympics was shattered when World Athletics (WA) banned transgender women from elite female competitions. "The only safeguard transgender women have is their right to live as they wish and we are being refused that, we are being hounded... In March WA's council cut the maximum amount of plasma testosterone for DSD athletes in half to 2.5 nanomoles per litre from five. The WA rules also stated the level must be maintained for at least 24 months before DSD athletes can compete in female competitions.

☆ India says other African cheetahs well after two deaths
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] A cheetah looks on after being sedated, before being flown with eleven others from South Africa to India under an agreement between the two governments to introduce the African cats to the South Asian country over the next decade, at Rooiberg veterinary facility, Limpopo province, South Africa, February 17, 2023. The deaths raised concerns about the effort that Prime Minister Narendra Modi has championed, but that some conservationists have called a "vanity project" that overlooks the fact the African cheetah is not native to South Asia. "The other cheetahs have been closely monitored and none of them has shown any similar symptoms," the Ministry of Environment, Forest and Climate Change said in a statement. The ministry said a team of experts from South Africa and India visited the park in Madhya Pradesh state on April 30 and submitted a report to it on the way ahead. "This is the first intercontinental re-introduction of a wild, large carnivore species and therefore there is no comparable historical precedent."

☆ South Africa’s most epic hikes
▼ + stars: | 2023-05-03 | by ( Joe Yogerst | ) edition.cnn.com time to read: +11 min

Here are nine of South Africa’s best multiday backpacking trails:Otter TrailThe coastal Otter Trail takes in some of South Africa's most beautiful coastline. South African TourismSouth Africa’s oldest (established in 1968) and most celebrated hiking route, the Otter Trail runs along the Eastern Cape coast between Storms River Mouth and Nature’s Valley in Garden Route National Park. South African TourismSummit the legendary Drakensberg escarpment on a vertiginous route that rises high above Thendele Royal Natal National Park in KwaZulu-Natal province. Distance: About 25 kilometers (16 miles)Time: 2 daysInfo: hikingsouthafrica.co.za/kgaswane-summit-trail/Tsitsikamma TrailThe Garden Route National Park is an advenure sport paradise. Each traverse takes seven to 10 days during the South African spring (September-November).

The cause of death was not immediately known and authorities will perform a post-mortem to find out more, the outlet reported. Uday – who was named by Indian citizens in a contest – was among 20 cheetahs airlifted to India over the past few months from Africa. The news of the deceased 6-year-old cheetah came just three weeks after his fellow feline, Sasha, died from a kidney infection. Laurie Marker, founder of the Namibia-based Cheetah Conservation Fund (CCF), which also helped with transferring the animals, said re-establishing a population is very difficult. In late March, the country welcomed four newborn cheetahs for the first time since the species disappeared from India more than 70 years ago.

☆ Germany to support critical minerals-rich countries build processing capacity
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 16 (Reuters) - Germany wants to help countries that are rich in critical minerals such as Chile, Indonesia and Namibia to build their own processing infrastructure to cut dependency on China, Chancellor Olaf Scholz said on Sunday. Berlin is trying to rebalance its relationship with China and reduce reliance on Asia's powerhouse for key inputs, such as nickel and other critical minerals. Scholz said he supported a free trade agreement between the European Union and Indonesia, which the two parties have been negotiating since 2016. "I am committed to ensuring that we finally get this agreement across the finish line now," he said, adding that geopolitical developments in Europe and in Asia argued for similar deals with other countries such as Mexico and Australia, Kenya and India. Reporting by Riham Alkousaa and Andreas Rinke; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Uganda’s anti-gay bill is the latest and worst to target LGBTQ Africans
▼ + stars: | 2023-04-06 | by ( Aditi Bhandari | ) www.reuters.com time to read: +14 min

Same-sex activity in Africa is punishable by … Map of the 32 African countries where same-sex activity is illegal. Same-sex activity in Africa … Map of the 22 African countries where same-sex activity is legal. In 1993, Guinea-Bissau became the first African country to legalise LGBTQ activity when it adopted a new Penal Code that didn’t include any laws criminalising it. Country Constitutional protection Broad protections Employment Hate crime Incitement Marriage or civil union Adoption Angola No Yes Yes Yes Yes No No Botswana No No Yes No No No No Cape Verde No No Yes Yes No No No Gabon No No No No No No No Guinea-Bissau No No No No No No No Lesotho No No No No No No No Mozambique No No Yes No No No No Sao Tome and Principe No No Yes Yes No No No Seychelles No No Yes No No No No South Africa Yes Yes Yes No Yes Yes YesNote: Broad protections include laws protecting against discrimination in at least 3 of 4 categories: the provision of goods and services, housing, healthcare and education. Namibia and Mauritius criminalise same-sex activity, but around 35% of respondents said they would dislike having a gay neighbour.

☆ Is the U.S. falling behind China in Africa’s lithium industry?
▼ + stars: | 2023-03-09 | by ( Sydney Boyo | ) www.cnbc.com time to read: +6 min

The demand for lithium is rising as it has become a critical component needed in electric vehicle batteries. Zimbabwe has been mining lithium for 60 years and the government estimates that its Chinese-owned Bikita Minerals Mine, which is located 300 kilometers south of the capital Harare, has about 11 million metric tons of lithium resources. In December 2022, Zimbabwe passed the Base Mineral Export Control Act that banned the export of raw lithium. That includes Chinese firms Zhejiang Huayou Cobalt , Sinomine Resource Group and Chengxin Lithium Group which have invested $678 million into lithium projects in Zimbabwe. Both the Bikita mine, which is the largest lithium mine in the country, and the Arcadia Lithium mine are Chinese owned.

☆ Namibia makes third oil discovery in the Orange Basin
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

WINDHOEK, March 6 (Reuters) - Namibia's state-owned oil company NAMCOR has made a third oil discovery with partners Shell (SHEL.L) and QatarEnergy in the Jonker-1X deepwater exploration well, in the Orange Basin offshore southern Namibia, it said on Monday. New discoveries could make Namibia, the southern neighbour of OPEC member Angola, another oil producer along the African Atlantic coast. "We are delighted to announce this third oil discovery after the success of the Graff-1X and Venus-1X discoveries by Shell and TotalEnergies (TTEF.PA) in 2022," Immanuel Mulunga, managing director of NAMCOR, said in a statement. The acquired data is being evaluated, and further appraisal drilling is planned to determine the size and potential of the discovery, the statement said. Shell Namibia B.V and QatarEnergy each hold a 45% stake in the joint venture while state-owned NAMCOR has 10%.

[1/2] Former U.S. Vice President Joe Biden addresses the International Association of Fire Fighters in Washington, U.S., March 12, 2019. REUTERS/Kevin LamarqueWASHINGTON, Feb 27 (Reuters) - U.S. first lady Jill Biden wants Americans to know that her husband, President Joe Biden, does plan to run for a second four-year term, and she's all for it - even as a formal declaration of his intentions has yet to be made. Cedric Richmond, a former Biden White House adviser, said Biden would announce "whenever he's ready" when asked if an announcement was coming in March or April. Some 71% of respondents, including 52% of Democrats, said they did not believe that Biden should run for re-election in 2024. Democratic strategist Bud Jackson said the issue of whether Biden should run again is a topic of great debate in Democratic circles.

☆ Jill Biden Says She Is ‘All for’ President Biden Running for Another Term
▼ + stars: | 2023-02-27 | by ( Ken Thomas | ) www.wsj.com time to read: 1 min

First lady Jill Biden has long had a major influence on her husband’s political decision-making. WASHINGTON—First lady Jill Biden is suggesting that President Biden is closing in on a 2024 re-election campaign, saying in interviews there are few things that would prevent the 80-year-old president from seeking a second term. The first lady was asked in an interview with CNN that aired Monday if there was any chance her husband wouldn’t seek re-election in 2024. “Not in my book,” she said in the interview taped Saturday during her trip to Africa, which included stops in Namibia and Kenya. “I’m all for it, of course.”

After Russia invaded Ukraine, the West formed what looked like an overwhelming global coalition: 141 countries supported a United Nations measure demanding that Russia unconditionally withdraw. South Korea Indonesia Israel Thailand Japan Saudi Arabia Philippines Afghanistan CambodiaBy contrast, Russia seemed isolated. Eritrea “Russian actions are being distorted” North Korea Russia Belarus Syria Eritrea “Russian actions are being distorted” North Korea Russia Belarus SyriaBut the West never won over as much of the world as it initially seemed. But like many other African countries, South Africa appears careful to balance its growing ties with Russia against maintaining a relationship with the West. Others that provided Ukraine with military support have declined to impose economic sanctions on Russia.

☆ India opposes Hindustan Zinc's $2.98 bln deal for Vedanta zinc assets
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

Vedanta's sale of its zinc assets in South Africa and Namibia to Hindustan Zinc is critical to ensuring liquidity at parent company Vedanta Resources. The government holds a near 30% stake in Hindustan Zinc, while Vedanta owns almost 65%. "As far as Hindustan Zinc is concerned, we always believe in and operate in perfect manners of corporate governance, so (there is) no deviation on that count," Hindustan Zinc Chief Executive Arun Misra told CNBC-TV18 on Monday. Hindustan Zinc has three months from the deal announcement to hold the shareholders' meeting to seek approval for the deal. Hindustan Zinc and Vedanta did not immediately respond to Reuters requests for comment.

DUBAI/LONDON, Jan 25 (Reuters) - Qatar is in talks to acquire a stake from French company TotalEnergies' (TTEF.PA) $27 billion cluster of energy projects in Iraq, three sources told Reuters, as Baghdad hopes to stem efforts by Western energy companies to exit the country. The TotalEnergies deal with Iraq, which will require an initial investment of $10 billion, followed a visit from French President Emmanuel Macron in September 2021. Sources told Reuters last year that disputes over terms had risked scrapping the project. A senior Iraqi oil ministry official said he was not aware of QatarEnergy plans to acquire a stake in the TotalEnergies' project. One of the sources told Reuters Sudani would also meet TotalEnergies Chief Executive Officer Patrick Pouyanne in a bid to end the deadlock.

☆ South Africa energy blackouts: Ramaphosa skips Davos to tackle crisis
▼ + stars: | 2023-01-18 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that is inflicting rolling blackouts on the continent’s most developed economy. At peak times, demand in South Africa averages between 28,000 MW and 34,000 MW. Electricity theft, including by impoverished townships in South Africa, and non-payment by municipal customers have made matters worse. Despite an abundance of sunshine and wind, South Africa still derives about 80% of its electricity from coal. South Africa’s National Energy Crisis Committee, a body run out of Ramaphosa’s office, has proposed several measures to ease the crisis in the short term, including importing energy from neighboring countries and buying excess energy from private producers.

☆ South Africa name new coaches for test, limited overs teams
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Jan 16 (Reuters) - South Africa have named Rob Walter as their new head coach in limited overs cricket with Shukri Conrad to take over the test team, officials confirmed on Monday. Conrad is an experienced head coach in South African domestic cricket and was most recently in charge of the national Under-19 side. "Their leadership is very strong and they are clear in their minds about how to move South African cricket forward," Nkwe told reporters. Nkwe said it was important to lay the foundations for success in the 50-overs Cricket World Cup in 2027, which South Africa is co-hosting with Namibia and Zimbabwe. "The 2027 World Cup is a must-win and we need to build the systems to be successful there," he added.

☆ German companies plan to invest more in Africa in 2023
▼ + stars: | 2022-12-27 | by ( Rene Wagner | ) www.reuters.com time to read: +2 min

The poll of members of the German-African Business Association also showed that a further 39% of Association's members aim to keep their spending levels in Africa stable. "The majority of companies want to expand their activities in the coming year," Association head Christoph Kannegiesser told Reuters. German companies invested about 1.6 billion euros in Africa in 2021, of which about 1.1 billion euros went to the sub-Sahara region, according to economy ministry data. Namibia could also profit massively from green hydrogen production, said Kannegiesser. The survey showed that 56% of the companies viewed their business activities in Africa in 2022 positively and a further 7% rated them "very good".

☆ Startup Plans to Make Synthetic Natural Gas With Green Hydrogen
▼ + stars: | 2022-12-22 | by ( Giulia Petroni | ) www.wsj.com time to read: +7 min

Hydrogen company Tree Energy Solutions plans to provide low-emission fuels for businesses in Europe as they struggle with energy shortages and higher prices. PREVIEWRoughly 96% of the hydrogen in Europe is produced using natural gas, resulting in significant CO2 emissions, according to the European Commission, the European Union’s executive arm. Marco Alverà, head of TES and former chief executive officer of Italian gas grid operator Snam SpA, spoke with WSJ Pro Sustainable Business about a green-hydrogen-based process to create synthetic natural gas. Mr. Alverà: I’m a fan of hydrogen, but not of hydrogen in itself. Suddenly, we’ve turned something problematic and illiquid like hydrogen into something very fungible like natural gas.

It could also negatively impact African nations that produce battery materials. The United States has a Free Trade Agreement in place with only one African country, Morocco. Battery materials and trade are set to be a focus at next week's U.S.-Africa Leaders' Summit in Washington where President Joe Biden will meet presidents of African countries including Congo. Under IRA, U.S. carmakers will get tax credits if they source at least 40% of battery materials domestically or from American free-trade partners. His is one of many projects across sub-Saharan Africa aiming to produce battery materials like lithium, nickel and graphite.

Search resuls for: "Namibia"

25 mentions found