IMF releases $ 335 million to Jordan, loan program on track
RIYAD: High energy costs are unlikely to drop anytime soon, which could lead to the downfall of many industries.
Looking at the larger image:
· European manufacturing companies have cut production as energy prices soar and demand increased due to cold weather, the Wall Street Journal reported.
Industrial companies demanded government intervention before high costs hamper the region’s economy.
· Greece has turned to US gas to diversify its energy supply and reduce its dependence on Russian coal and gas, the Wall Street Journal said.
· Japan needs more funding for renewable energy to support its goal of carbon neutrality in 2050. It is slow to tackle climate change, Bloomberg reported citing a senior Japanese official.
Through a micro-lens:
The United States has guaranteed a $ 1 billion conditional loan for a Nebraska-based hydrogen project that aims to supply hydrogen to the agricultural sector, Bloomberg reported.
This loan is the first of its kind to be granted to a non-nuclear project since 2016.
Read more: https://www.arabnews.com/node/1993061/business-economy
Europe’s largest solar energy developer Lightsource BP has partnered with Portugal’s Dourogas to deliver green hydrogen projects, CNBC reported.
The green hydrogen generated in the process must be injected directly into the Portuguese gas network.
Read more: https://www.arabnews.com/node/1993046/business-economy