first_imgAnalysts see renewable energy benefitting at gas, coal’s expense during current U.S. downturn FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):As the U.S. economy slumps under the weight of the coronavirus pandemic, falling electricity demand is increasing financial pressure on fossil fuel plants and creating an opportunity for renewable energy resources to grab a bigger share of the market, according to analysts at S&P Global Market Intelligence.Declining costs for wind and solar farms have made clean energy competitive with traditional resources like coal and natural gas in much of the world. Now, the drop in demand in U.S. wholesale electricity markets is primarily threatening fossil fuel generators, and it is likely that low-cost renewable energy will “retain its position even if demand overall shrinks,” said Steve Piper, director of energy research at S&P Global Market Intelligence, during a May 15 webinar.“The pandemic could put another nail in the coffin for coal demand from the utility sector,” said Alex Cook, a senior energy research analyst at S&P Global Market Intelligence. “It could also put gas-fired units at risk and reduce gas demand, particularly in markets that have a high level of gas generation in their fuel mix, like New York and New England.”While coal and natural gas face growing risks, the safe-haven status of renewables has been reinforced during the health and economic crisis, investors say, since wind and solar plants often sell electricity under fixed-price, long-term contracts that help to shield their revenue from immediate economic disruptions.“So, we have confidence that these [power purchase agreements] will be honored by all our customers,” said Michel Letellier, president and CEO of Canada’s Innergex Renewable Energy Inc., on a May 13 earnings call. Meanwhile, Letellier said, investor interest in new renewable energy assets in the U.S. remains high and could accelerate due to the closure of inefficient or uneconomic fossil fuel units.“[Our] belief is that renewable generation is still going to be a key driver in the industry, and that’s primarily due to the fact that so many utilities have made these announcements in the past,” said Tod Cooper, COO of transmission and distribution at construction firm MYR Group Inc. “We know what their plans are going forward.”[Michael Copley]More ($): In the battle for market share, analysts see downturn boosting renewable energylast_img read more

first_img“Unfortunately the chief scout had the deal in place but we missed that one.“He’s a great talent but unfortunately he hasn’t joined the right club.” 0:43 – Advertisement – Jude Bellingham has been called up to the England squad for the first time following the withdrawal of James Ward-Prowse and Trent Alexander-Arnold through injury.The 17-year-old midfielder was originally included in the U21 squad, but will now link up with the senior team ahead of the games against Republic of Ireland, Belgium and Iceland.- Advertisement – New Arsenal head coach Mikel Arteta and technical director Edu in the stands at Goodison ParkImage:Mikel Arteta and technical director Edu in the stands at Goodison Park Marcus RashfordImage:Southgate is hopeful he will have Marcus Rashford in his squad Bellingham has impressed since making a summer switch from Birmingham City to Dortmund, featuring in 10 matches, scoring once.It caps an incredible rise for Bellingham, who only finished his first full campaign of senior football last season.During his debut season with Birmingham, Bellingham became a lynchpin of his boyhood club’s midfield and featured 44 times, scoring four goals.- Advertisement – “He was spotted very early on, not by me, but by the Arsenal recruitment office.“The chief scout was absolutely bowled over by him (Bellingham) and the great prospect that he is.“The sporting director Edu, coming from Brazil had no European and U.K. experience and I think it got lost in the transition. Jude Bellingham England face Republic of Ireland at Wembley on Thursday before travelling to Belgium on Sunday and welcoming Iceland on Wednesday to complete UEFA Nations League Group A2.Sky Sports News reported on Monday England may have to forfeit their final Nations League group game against Iceland, with UEFA expected to sanction Denmark’s fixture with the Icelanders on Sunday.Currently, the UK Government will not allow any of Iceland’s players into the country to play the game if they have been in Denmark – where a new strain of coronavirus has been linked to the country’s mink farms.Elsewhere, England U21 manager Aidy Boothroyd has added Everton duo Ben Godfrey and Tom Davies to his squad, but will be without Norwich defender Max Aarons for the matches against Andorra on Friday and Albania on Tuesday.‘Arsenal were close to signing Bellingham’Former England captain Tony Adams says Arsenal were close to signing Jude Bellingham from Birmingham but the transfer slipped through the net.“I think it got lost this one, in the transition of the chief scout at Arsenal going out,” said Adams. Tony Adams says the signing of Jude Bellingham was one that slipped through the net at Arsenal. Despite being without Ward-Prowse and Alexander-Arnold, England manager Gareth Southgate is hopeful he will be able to call upon Marcus Rashford.The striker is scheduled to report for duty on Thursday to allow for further assessment on an injury sustained in Manchester United’s 3-1 victory over Everton last Saturday.The majority of the squad arrived at St. George’s Park on Monday with Ben Chilwell, Eric Dier, Harry Kane, Kyle Walker, Joe Gomez, Jordan Henderson and Raheem Sterling due to report on Tuesday. – Advertisement –last_img read more

first_imgMost mosques in Tangerang, Banten are holding Friday prayers on March 20 despite a warning from the Indonesian Ulema Council (MUI) to suspend the mass prayers, especially in areas hit by COVID-19. Friday prayers at mosques are commonly believed to be obligatory for Muslim men in place of noon prayer. Before praying, a sermon is given that can last up to 45 minutes.Keepers at Great Al-Azhom Mosque in Tangerang said they would still hold Friday prayers with a shorter sermon. They also advised the congregation to bring their own prayer mats. Topics : The MUI previously issued a fatwa advising Muslims against praying in congregation in areas where COVID-19 had spread “uncontrollably”, including skipping “Friday prayers in those areas until the situation returns to normal”. The council has also urged the government to map areas with outbreaks of COVID-19 following the fatwa.Al-Azhom mosque keeper Chaerudin, however, said the decision to hold Friday prayers was made after consulting with MUI Tangerang.“Because as of now, Tangerang is not a red zone [where COVID-19 has spread uncontrollably]. So we’ve agreed to hold Friday prayers,” Chaerudin said Friday as quoted by also said the mosque would be disinfected and cleaned beforehand, adding that the mosque’s keepers would check the body temperature of attendees at the mosque gates.“If someone has a fever, we will tell them to go home,” he said, as the fatwa also prohibited individuals with COVID-19 from attending congregational prayers. (mfp)last_img read more

first_imgIndoor dining in cafes and restaurants will resume on Friday, he said, with social distancing of 1.5 meters between groups.Marriages and funerals will also be allowed if the attendees wore face masks and kept two meters distance from each other.Bettel however said cafes and restaurants would have to close at midnight.Francois Koepp, the general secretary of the Horeca federation grouping hotels, restaurants and cafes, welcomed the announcement, saying the sector had “greatly suffered from the confinement”. Topics : He said it provided employment to some 21,000 people in this nation of 620,000 inhabitants.Cinema theatres and gyms will open at the end of the week but children’s parks will remain closed.The government has pledged to give every citizen over 16 a voucher worth 50 euros ($54) to spend in hotels to provide a boost to the sector.The vouchers will also be given to some 200,000 cross border workers from Belgium, France and Germany.center_img Luxembourg will ease its coronavirus restrictions on Wednesday, reopening cafes and restaurants and allowing civil and religious ceremonies under strict conditions, the government announced.The tiny country has so far registered only 3,993 COVID-19 cases, of which 110 have been fatal. Four people are in intensive care and shops were closed on March 18 to slow the spread of the new coronavirus.Prime Minister Xavier Bettel told a news conference on Monday that eateries could reopen terraces with a maximum of four people at a single table.last_img read more

first_imgBeasiswa Sobat Bumi Pertamina (Pertamina Friends of the Earth Grant) has announced 285 recipients of the 2020 grants. They are students from 25 universities nationwide. “After conducting a selection process involving experts, practitioners and academics as judges, we’ve named 285 students who were qualified to receive the grants,” Pertamina Foundation president director Agus Mashud S. Asngari said in a statement on Sunday.The grants are aimed at bright students who are excellent in academics, have a vision and are concerned about environmental issues. “For the 2020 grants, 50 percent of the recipients are those who really need financial assistance and are affected by COVID-19. It was a challenge for us to select the 285 students out of 6,848 applicants due to their respective potential,” said Agus. Read also: COVID-19: Pertamina Foundation provides housing for medical workers at referral hospitalStudent Arsalan Umar of Pertamina University said he was excited to be named a grant recipient in the Sobat Bumi program.“It is time for me to conquer challenges, to grow even more and to inspire as well as motivate other young people. Thank you Pertamina and the Pertamina Foundation for the grant. I hope more students receive such support,” Arsalan said on Monday.This year, Sobat Bumi offered three types of financial support for students on regular bachelor’s degree programs, in affirmation programs and vocational programs. The aid falls under the PF Prestasi program, which belongs to the Pertamina Foundation, launched in 2011. The 2020 scholarship received online applications between April 18 and May 5.Topics :last_img read more

first_imgSecond, the country needs to create a much more flexible labour market. Sharma argues that the Modi government, despite having the first majority in 30 years, still repeats the mantra that labour law reform is subject to the unions’ approval, and that it must not be biased towards the employer. The problem is that, with very inflexible labour markets, employers fear they cannot make staff redundant easily, even if the companies are facing losses that deter investment in industry in large parts of the country.Modi, it seems, has dismissed ‘hire and fire’ as a “Western concept”, not in keeping with Indian culture. Such an attitude, while great for those already in employment, is not so good for those seeking it. It is also arguably one of the reasons why the UK and US are experiencing more vibrant economies than many European countries such as France, which also has more rigid labour laws.Third, Sharma argues that the country needs genuine administrative reform. It is the incapacity and inefficiency of the state, he says, that poses the greatest hurdle for the economy – as anyone who has experienced Indian bureaucracy can testify. In particular, ministries need to become policy-making, not rule-making, centres, with independent agencies and regulators empowered to make the rules instead.Fourth, Sharma argues that India needs to reform its budget and expenditure mechanism. Making the Union Budget use accrual-based accounting instead of a cash-based one, he says, would increase transparency while cutting the Union government out of the process of disbursing monies to the states for schemes they are implementing and evaluating.What irks Sharma most is the government’s astounding timidity on reform. In principle, any major reform creates losers as well as winners, yet the economy as a whole is better off. What should be a worry is whether Modi’s administration becomes hijacked by vested interests that thwart the promises of change that swept him into power.Joseph Mariathasan is a contributing editor at IPE The prime minister’s timidity in the face of much-needed reform is astonishing, writes Joseph MariathasanIndia’s growth rate is now comparable with China’s, but it still lags far behind in many respects, most notably in the state of its infrastructure. India’s current prime minister, Narendra Modi, came into power in May 2014 on a wave of optimism and hope that his administration would finally produce the changes required to transform the economy. More than two years later, there has certainly been some changes, accompanied by much hype, but many commentators are disappointed and frustrated by his inability to create the “Big Bang” changes the economy requires.Economist Mihir Sharma argues there are four key problems the Modi administration has failed to tackle.First, he says, India should be privatising those businesses that governments should not be in. The most notable example is the national carrier, Air India, which Sharma describes as a national disgrace in terms of service quality. It is seen as a bottomless sink for taxpayer rupees and a constant source of undercutting and instability in the aviation sector. He, along with many others, argue that dozens of Indian public sector units are a drain on public resources and productive capacity, and should be sold off.last_img read more

first_imgStrong investment performance and increased deficit contributions by employers were behind the reduction in the aggregate deficit, according to Barnett Waddingham.“This is the third year in a row that deficit contributions have increased, suggesting that the FTSE350 companies are stepping up their commitment to paying down DB pension scheme deficits,” it said.However, the report also found that the average deficit contribution paid by FTSE350 companies as a proportion of dividends remained at 10% in 2017.The firm speculated that the Pensions Regulator may be concerned that around 43 companies boosted dividend payments while at the same time reducing deficit contributions. “However, within this group there will be some companies who agreed to pay higher levels of contributions in the short term, which have now done their job in reducing the DB deficit,” it commented.“It is only right that they can now return to more normal contribution levels,” the firm added.Nick Griggs, partner at Barnett Waddingham, said that while the deficit shrinkage was positive news, it would not take much to tip the balance the other way.“Our analysis suggests that a 0.5% fall in bond yields in 2017 would have pushed the aggregate deficit of the FTSE350 DB schemes up to £85bn,” he said.“With the health of the UK and global economy threatened by a lack of progress with Brexit and the threat of a trade war from Trump’s America First assault, there could a major impact on the size of pension deficits and the ability of FTSE350 companies to pay the contributions needed to clear these,” Griggs warned.Separately, consultancy Mercer earlier this month released figures quantifying the likely size of UK DB deficits for FTSE350 companies, saying the aggregate pension deficit had more than halved in 2018 so far, improving by a total of £40bn from £72bn at the start of the year to £32bn.With its figures compiled on a different basis to those from Barnett Waddingham, Mercer included data for July as well as the first half.In July, both asset values and liabilities had risen and the deficit had increased by £3bn compared to £29bn at the end of June, the firm said. Pension deficits at major UK companies have fallen sharply in the first half of this year, but are still susceptible to bond yield shifts, according to a new report.Consultancy Barnett Waddingham estimated the aggregate defined benefit (DB) pension scheme deficit for companies in the FTSE350 index was around £35bn (€38.9bn) on an accounting basis at the end of June 2018, down from £55bn at the end of last year. At the beginning of last year the aggregate deficit stood at £62bn.The £35bn deficit compares to FTSE350 companies’ total pre-tax profits of £210bn, putting the collective deficit at 17% of total corporate profits compared with 70% 18 months ago, according to the firm’s latest report analysing the impact of DB pensions on UK business.This bucks the trend seen since 2011, where deficits steadily increased as a proportion of pre-tax profits from a low of 25% and hitting a peak of 70% in 2016, the firm said.last_img read more

first_imgDenmark-based offshore wind O&M service provider ZITON completed three maintenance projects at UK offshore wind farms this month. The company’s team on board its jack-up vessel Wind Enterprise has exchanged gearboxes on two out of the 30 Senvion (REpower) 5 MW wind turbines at the Ormonde offshore wind farm. In addition, ZITON reported at the beginning of August that it completed a blade exchange on the Kentish Flats offshore wind farm, which comprises 30 Vestas 3 MW wind turbines. At the beginning of this month, ZITON also completed a full-scope gearbox exchange at the Teesside Wind Farm (also knows as Redcar Wind Farm), which features 27 Siemens Gamesa 2.3 MW turbines. center_img The work was carried out in mid-August with both gearboxes exchanged within four days. “This specific type of gearbox is notorious for minimum tolerances, hence requires a very experienced team to guarantee successful exchange”, the company said via social media. last_img read more

first_imgThe selling price of a shoulder bag isP350 each, he added.    Iris Ellaine Gail Dingcong, officer ofthe Department of Trade and Industry (DTI)-Antique, said the table utensilsmade of bamboo materials won as the “best eco-luxury homestyle” while the“buri” shoulder bag won as the “best eco-luxury fashion and wearables” during acontest which wrapped up last week. “The selling price of a set ofutensils with pouch is P250,” he added. Dingcong added the table utensils weremade by the Sibalom Bamboo Craft Makers Association and the shoulder bag wasmade by the United Group of Weavers. Aside from the shoulder bag, theUnited Group of Weavers, composed of 40 members mostly beneficiaries of thePantawid Pamilyang Pilipino Program, also makes shoeboxes and mats for theirlivelihood.(With a report from PNA/PN) “I am inspired by the outcome of mynewly innovated table utensils made of bamboo,” said Isaias Fabillo, head ofthe Sibalom Bamboo Craft Makers Association. “The judge chose our entry because itis purely made of natural material,” he said.  The set of bamboo utensils in a “buri” pouch won as the best eco-luxury homestyle during the Panublion Trade Fair at a mall in Iloilo City. The utensils were made by the Sibalom Bamboo Craft Makers Association. PNA/ANNABEL CONSUELO J. PETINGLAY center_img SAN JOSE, Antique – Two products fromthe province bagged the top awards during the five-day Panublion Trade Fair ata mall in Iloilo City.  Meanwhile, Jhon Wilson Hernaez of theUnited Group of Weavers said the “buri” shoulder bag is a product of theircreativity and the technical assistance they received from DTI-Antique. “I make spoon, fork and table knifewhich I put inside a ‘buri’ pouch,” he added. He said the materials for each set ofutensils cost P100 while the “buri” pouch costs around P50. She said micro small and mediumentrepreneurs (MSMEs) from the different provinces of Western Visayasparticipated in the Punublion Trade Fair organized by the DTI-6.  “DTI has taught us a good colorcombination to make our product more attractive,” Hernaez added, saying “buri”is abundant in the mountainous area of Anini-y, Antique.last_img read more

first_imgNo. 10 seed Syracuse (22-13, 9-9 Atlantic Coast) will take on No. 1 seed Virginia (29-7, 13-5) at 6:09 p.m. Sunday in the Elite Eight. The Orange is coming off a dramatic win over 11th-seeded Gonzaga (28-8, 15-3 West Coast) to advance to its third Elite Eight in five years.Here’s how beat writers Sam Blum, Jesse Dougherty and Matt Schneidman predict the matchup to unfold.Sam Blum (21-14)Virginia 68, Syracuse 60Game over AdvertisementThis is placeholder textSyracuse’s season has officially been defined by this incredible NCAA Tournament run. By the time the Orange takes the court on Sunday, there will only be five teams left vying for an National Championship. This year, because of that, has been a success. The image of Tyler Lydon’s block will never be forgotten. But Virginia is the best team left in this Tournament. It might have been the best when it began. It dictates tempo and scores in bunches and play fantastic defense. It’s really hard to beat that team. This will be a good game, but it will also be SU’s last.Jesse Dougherty (23-12)Virginia 59, Syracuse 54Hoo?Syracuse is obviously on a very big high, but Virginia looked awesome in its lopsided win over Iowa State on Friday and does not look like a No. 1 seed that’s going to lose to a No. 10. The Cyclones dropped into a 2-3 zone for some of that game, and Cavaliers point guard London Perrantes looked like a one-man wrecking ball against it. And while the Orange zone is way better than whatever ISU patched together, Perrantes’ keen ability to find the cracks and open teammates will translate (enough) to breaking down SU’s defense. Michael Gbinije was the man against Gonzaga, but first-team All-American Malcolm Brogdon wasn’t on the court. Now he is, and that’s trouble for Syracuse’s most consistent source of offense.Matt Schneidman (25-10)Virginia 71, Syracuse 66Broken slipperRegardless of whether Syracuse takes down the top-seeded Cavaliers or not, this run has been a magical one for the Orange. It has a chance to be the highest-ever seed to win a national title, but those hopes come crashing down at the hands of an efficient, stingy Virginia team that boasts a deadly balance of offensive and defensive prowess. SU doesn’t play badly by any means, but its ACC foe, led by Brogdon and Perrantes, is simply too good offensively and a Cinderella run comes to an end in Chicago. Comments Published on March 26, 2016 at 1:36 pm Facebook Twitter Google+center_img Related Stories Syracuse-Virginia basketball Elite Eight game time set for 6:09 p.m. SundayDougherty: Ignorance is bliss (or something like that) for Syracuse’s three freshmenMichael Gbinije carries Syracuse offensively in 63-60 victory over GonzagaSyracuse escapes nail-biter with 63-60 win over Gonzaga in Sweet 16Inside the final 11.2 seconds of Syracuse’s 63-60 Sweet 16 win over Gonzagalast_img read more