WBTS Forum http://wbts-forum.org/ Tue, 04 Jan 2022 20:16:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://wbts-forum.org/wp-content/uploads/2021/04/default1.png WBTS Forum http://wbts-forum.org/ 32 32 In Europe, the far right unites its forces https://wbts-forum.org/in-europe-the-far-right-unites-its-forces/ Tue, 04 Jan 2022 20:16:14 +0000 https://wbts-forum.org/in-europe-the-far-right-unites-its-forces/

In early September, Santiago Abascal, chairman of Spain’s far-right Vox party, announced that his country had been chosen to host the next summit of “European patriotic and conservative leaders” to be held this month. The meeting, probably held in Madrid, represents the next step in these forces’ attempt to integrate themselves as a “conservative” bloc in European politics, acceptable to a wider right-wing audience.

It is not just an alliance of marginal opposition forces, but an alliance that already holds power in several European capitals. Indeed, the last such meeting was held in Warsaw, Poland, on December 4, under the auspices of Jarosław Kaczyński, chairman of the ruling Law and Justice party. The meeting at the Regent Hotel brought together far-right luminaries such as Polish Prime Minister Mateusz Morawiecki (also from Kaczyński’s party), his Hungarian counterpart Viktor Orbán, the leader of the National Rally Marine Le Pen, as well as Abascal and of the far-right leaders of Flanders. and Estonia.

The summit resulted in a brief one-page statement denouncing the status quo in the European Union. He attacks the “disturbing idea” of a Europe “ruled by a self-proclaimed elite”. The document highlighted how this elite is implementing “the arbitrary application of European law” and a continent-wide “social engineering” program aimed at “separating people from their culture and heritage”.

But if the language was harsh, what especially marked this summit was that it was the first official meeting bringing together representatives of the two groups to the right of the European People’s Party (EPP), the main Christian Democratic force. in the European Parliament. While some major far-right forces (such as Matteo Salvini’s League and the Alternative for Germany, AfD) were absent, the summit stressed the strengthening of relations between European conservatives and reformists (ECR, a group comprising formerly the British Conservatives) and the more extreme right-wing Identity and Democracy (ID), as well as Orbán’s Fidesz party, unaffiliated at European level since leaving the EPP in March.

The parties involved in these groupings come from different political traditions and, in some cases, even compete electorally at the national level. But while the tensions between these forces have long justified the existence of two rival currents in the European Parliament, it could be history after this month’s summit, as they contemplate the creation of a “supergroup” bringing together the European Parliament. extreme right in European politics.

Already in the Warsaw declaration of December, the signatory parties pledged “closer cooperation in the European Parliament, including the organization of joint meetings and the coordination of votes”.

Le Pen expressed his conviction that this unprecedented goal was within reach: “We can be optimistic about the creation of this political force in the coming months”, commented the president of the National Rally. This goal was shared by Orbán, speaking to the press ahead of the meeting: “We have been working for months to create a strong party family. I hope we can take a step in that direction.

As Miguel Urbán, member of the European Parliament of the Left Anticapitalistas, explained in a Twitter feed, Orbán is indeed the key to the formation of this “supergroup”. He bridges the gap between far-right governments in Central and Eastern Europe and the far-right in the Mediterranean, not least because of his close personal relations with the ruling party in Poland for Law and Justice and the former Italian Minister of the Interior Matteo Salvini. But this also owes to the international projection and prestige of the Hungarian Prime Minister, hailed by personalities like Tucker Carlson, among the base of the ECR and ID parties. If Salvini had already proposed to create a far-right alliance similar to the approach of the 2019 European elections, the change of political context is finally pushing these forces to take the plunge.

There are ideological obstacles to such a pact, although they may seem insignificant to many observers who see all these forces as a homogeneous “populist right”. These parties place different emphasis on political and religious traditionalism and have differences on foreign policy, being particularly divided over their relations with Russia and, to a lesser extent, China.

The COVID-19 pandemic has also opened up divisions: some court the anti-vax movement and its conspiracy theories more openly than others, such as Le Pen and Italy’s Giorgia Meloni, who have instead taken a more ambiguous position, focusing on the criticism of the foreclosure measures. . Illustrating the contradictions, Orbán – the most fiercely anti-Communist hard-right figurehead – nevertheless received the blow from Sinovac, in the context of Budapest’s relatively good relations with China.

If such differences can be concealed in the name of unity, there are also practical problems: the ECR grouping has been partly consolidated as an alternative to the ID, which in recent years has been characterized by internal instability and multiple disputes between its constituents. parties. So if these forces are coming together now, what has changed?

On the one hand, after years of enjoying significant electoral growth, many of these parties appear to have leveled off and would need a political and media boost. It seems that one of the figures with the most to gain from such a “supergroup” federating the hard right is Marine Le Pen. While she aspires to reach again the second round of the French presidential election in April, she faces the unfortunate competition of pundit Eric Zemmour, including the new Reconquest! (Reconquest!) Risks dividing the far-right vote and allowing other candidates to sneak in.

Meanwhile, in Spain, Vox is seeking to strengthen his prospects of ruling with the Popular Party (Partido Popular, PP) of Pablo Casado, the main conservative party in the country for four decades. Although these forces remain in competition, with the far-right party trying to steal voters from the larger PP, Vox’s votes have already supported PP-led regional governments in Madrid and Andalusia, the administration of Isabel Díaz. Ayuso in the capital region being seen as a potential model. for a right-wing national government in 2023. Vox leader Abascal also offers other far-right European forces a particular channel of influence in Latin America. Through his eccentric theory of an “Iberosphere,” he began to forge closer ties with like-minded parties in the Spanish-speaking and Portuguese-speaking world, including Brazilian President Jair Bolsonaro.

This alliance also aims to organize the right flank of European politics in the current conflicts at EU level. Fidesz and Law and Justice, which govern Hungary and Poland respectively, have open conflicts with Brussels over the independence of the judiciary, but also over their asylum and immigration policies and against the rights of women and sexual minorities.

These conflicts were particularly sharpened, from the point of view of these parties, by the arrival of a new coalition government in Germany, made up of the Social Democrats of Olaf Scholz as well as the Greens and the Free New Liberal Democrats. They fear that Berlin will harden its stance towards Budapest and Warsaw, especially now that Greens co-chair Annalena Baerbock has become foreign minister. That said, during his recent visit to Poland, Baerbock notably watered down his campaign criticisms against the administration of law and justice, speaking vaguely about resolving the “differences” between the two countries and supporting the Polish government in its dispute with Belarus over refugees at the border.

Orbán nevertheless underlined the stakes of the conflict from the point of view of the extreme right: in December, while the new coalition was not yet formed, he had already described it as an executive supporting “immigration policy, gender [a dog whistle for LGBT-friendly measures] and a federal and pro-German Europe. The Hungarian Prime Minister defiantly insisted: “Let’s not fold our arms, let’s prepare for battle. “

If the “battle” with the new government in Berlin, added to certain voting difficulties, may push the European far right to stick together to warm up, another development of the recent German election also pleads in favor of a such pact. Parties that enter the German Bundestag twice in a row have access to federal funding for their party’s foundations – and after retaining most of its seats in the September elections, the AfD’s Desiderius Erasmus Stiftung (DES) is now eligible for state funding, to be used at the party’s own discretion. According to some media, this will start with the hiring of more than 900 staff.

If it resembles its counterparts elsewhere on the political spectrum, like the Konrad Adenauer Stiftung of the Christian Democrats (or even the much smaller Rosa Luxemburg Stiftung of Die Linke), it could allow DES to open offices in dozens of other countries. Thus, the founding of the AfD could succeed where former Donald Trump adviser Steve Bannon failed, and create a far-right cross-border think tank for Europe.

The potential forces behind this pact should not be underestimated. Adding together the current members of the European Parliament from the ECR and ID groups, as well as Fidesz d’Orbán, this would represent some 149 MEPs – enough to get ahead of the Progressive Alliance of Socialists and Democrats (S&D) and create the Assembly’s second force. from Brussels. Even if some parties remained outside the “supergroup”, or if the center-left bloc sought to integrate forces like the erratic five-star movement in Italy, the far right would still be the third group, well ahead of the Liberals of Renew Europe (101 deputies), not to mention the Greens and allies (seventy-three) or the left (thirty-nine).

If this is Brussels arithmetic, left-wing MEP Miguel Urbán also recalls that “this movement should not be read only in terms of the European Parliament, but in the perspective of a broader politico-cultural counter-revolution. “The growth of these parties has enabled them to push conservative and liberal parties more to the right, to harden official EU policies and public discourse on issues such as immigration or welfare and, no less important, to set the agenda of rival parties and media around issues such as immigration and security.

As Urbán points out, far-right forces have repeatedly shown that they are ready to fight to change the terms of the political debate. It is high time for the left to prepare as well.

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Germany wants to avoid escalation of European dispute over green finance rules https://wbts-forum.org/germany-wants-to-avoid-escalation-of-european-dispute-over-green-finance-rules/ Mon, 03 Jan 2022 23:54:00 +0000 https://wbts-forum.org/germany-wants-to-avoid-escalation-of-european-dispute-over-green-finance-rules/

German government spokesperson Steffen Hebestreit reacts by presenting the logo of the G7 summit in Germany 2022 at a press conference in Berlin, Germany on December 17, 2021. REUTERS / Annegret Hilse

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BERLIN, Jan. 3 (Reuters) – Germany wants to avoid an escalation in the dispute over a European proposal to classify both nuclear power and natural gas as climate-friendly energy sources by abstaining from ‘a vote on the investment plan, government sources said on Monday.

The European Commission’s decision to include gas and nuclear investments in European Union rules on the “taxonomy of sustainable finance” was broadcast in a draft proposal late on December 31 – a timing that has been criticized by European legislators.

During months of heated debate over the proposals, Germany and other EU member states argued that investments in gas were needed to help them move away from the more polluting coal. Others have said that labeling a fossil fuel as green would undermine the EU’s credibility as it seeks to be a world leader in the fight against climate change.

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Nuclear power without emissions is also a source of division. France, the Czech Republic and Poland are among those who say nuclear power should play an important role in the fight against global warming. Austria, Germany and Luxembourg are among those opposed, citing concerns about radioactive waste.

The three-way coalition government of German Chancellor Olaf Scholz, made up of center-left Social Democrats, Green Greens and pro-business Free Democrats, is also divided on the issue.

During coalition negotiations last year, the three parties failed to agree on a common wording on the EU’s green investment rules and therefore did not mention the subject in their coalition agreement presented in November.

Behind closed doors, the leaders of the three parties agreed to avoid a fight against the European Commission’s compromise proposal and to simply abstain from the vote when EU leaders have their final say at a summit. later that year, two people familiar with the decision said on condition of anonymity.

A government spokesperson said earlier Monday that all three coalition parties rejected the use of nuclear power in Germany.

But the parties agreed that natural gas could be used as a bridging technology for now and they would discuss how to proceed with the Commission proposal in the future, he added.

The Commission will now collect comments on its draft until January 12 and hopes to adopt a final text by the end of the month. After that, the text can be discussed with governments and the EU parliament for up to six months. But it is unlikely to be rejected as it would force 20 of the 27 EU countries, representing 65% of EU citizens, to say ‘no’.

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Reporting by Andreas Rinke and Michael Nienaber; Editing by Miranda Murray and Stephen Coates

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Deployment of German frigate Bayern in Indo-Pacific shows muddled Chinese policy https://wbts-forum.org/deployment-of-german-frigate-bayern-in-indo-pacific-shows-muddled-chinese-policy/ Mon, 03 Jan 2022 18:01:08 +0000 https://wbts-forum.org/deployment-of-german-frigate-bayern-in-indo-pacific-shows-muddled-chinese-policy/

European navies are once again making waves east of Suez with a series of high-level naval diplomacy missions. France deployed its only carrier strike group to the Indo-Pacific region in 2019, followed by the UK carrier strike group and an accompanying Dutch frigate in 2021.

And now, in the wake of these high-profile deployments, a single German frigate is circling Asia. With the ship now halfway through its mission, Berlin has created more questions than it answered with its first foray into the region in two decades.

The deployment by the German Navy of Brandenburg-class frigate Bayern, announced in January 2021 and sent in August, highlights Europe’s dilemma in the Indo-Pacific. Despite its public commitments to concepts such as human rights, democracy and equality, Germany (like many others in Europe) is deeply dependent on China, a power that believes in no of them, for continued economic growth.

European navies are once again making waves east of Suez with a series of high-level naval diplomacy missions. France deployed its only carrier strike group to the Indo-Pacific region in 2019, followed by the UK carrier strike group and an accompanying Dutch frigate in 2021.

And now, in the wake of these high-profile deployments, a single German frigate is circling Asia. With the ship now halfway through its mission, Berlin has created more questions than it answered with its first foray into the region in two decades.

The deployment by the German Navy of Brandenburg-class frigate Bayern, announced in January 2021 and sent in August, highlights Europe’s dilemma in the Indo-Pacific. Despite its public commitments to concepts such as human rights, democracy and equality, Germany (like many others in Europe) is deeply dependent on China, a power that believes in no of them, for continued economic growth.

While the European Union and China traded sanctions in a rare escalation of tensions last year, EU members are taking great care to avoid being drawn by Washington into a direct confrontation with Beijing. But European capitals fail to agree on a unified approach. Despite Brussels’ designation of Beijing as a “systemic rival”, internal pressures continue to blunt any effort to present a united European response, which extends into maritime missions led by European states. And, with few exceptions, decades of European underinvestment in maritime forces make their presence away from home symbolic at best, with Germany among the hardest hit.

Germany’s naval deployment is separate from those of France and the United Kingdom in part because Germany has no territorial possessions in the Indo-Pacific, and it has not since lost its positions. in China and the South Pacific after WWI. Considering the German Navy’s long absence from the region and relatively small size, it is not necessarily surprising that Germany wants to test the terrain with a limited deployment. But what he was doing there was not exactly clear.

Even at the planning stage, the Bayern deployment drew fire for the unclear objectives of his solo mission. At one point, Thomas Silberhorn, Parliamentary State Secretary at the Defense Ministry, said Berlin wanted to “deepen our ties with our partners on the Democratic side”, while at the same time specifying that the deployment was “not aimed at anyone. “. “

Berlin was apparently so keen to avoid anger in Beijing that it requested a tour of the port of Shanghai as part of the ship’s itinerary. In August 2021, Beijing rejected the request, and then German Defense Minister Annegret Kramp-Karrenbauer publicly stated that “for our partners in the Indo-Pacific, it is a reality that highways shipping lines are no longer open and secure. , and that land claims are enforced by the law of “power is good.” “

However, the BayernThe deployment of the consciously avoided transit through contested sea routes, and its chosen direction of travel ensured that it would not even have the opportunity to cross paths with Allied ships in the region at the same time. Yet sometimes Berlin and its representatives in the Indo-Pacific are on the verge of dropping the fig leaf of the “nobody” deployment. The many references to freedom of navigation, the rise of China and the continued subversion of the rule of law all seemed to point in one direction, but each time they stopped before explicitly naming the actor. malicious at the center of most of the region’s instability. .

Germany’s decision to go it alone was surprising, given the potential opportunity to fit into the British Royal Navy Carrier Strike Group deployment earlier in the year, as the Netherlands chose to do. with their own frigate. This solo deployment may have offered richer opportunities for bilateral engagement, but it also underscores several decades of German sea blindness. Deploying a single frigate without support for six months is a risky proposition, but it would probably have been too much for the German navy to engage further given the size of its force and its existing European commitments.

It may also indicate a serious gap in German understanding of the region’s changed security landscape. In a public speech delivered during the BayernDuring his visit to Singapore last month, the Chief of the German Navy, Vice Admiral Kay-Achim Schönbach, said the ship was selected specifically because it was a bit older and did not lacked the offensive punch of some newer ships, in order to avoid the appearance of provocation. .

Assuming Schönbach made this comment in reference to Beijing, it indicates how little Berlin understands the power gap involved. The number of warships and auxiliaries launched by China between 2014 and 2018 outnumbered the German navy as a whole. Today’s Chinese navy, about five times the size of the German navy, is unlikely to differentiate between frigates when it comes to provocation. When Beijing decides to take offense, it does so, whether it’s during a major project like the Australia-U.S. Naval Agreement or during a seemingly symbolic gesture like Lithuania’s improvement in Taiwan’s diplomatic status.

There was something incongruous and lukewarm about the Bayernjourney from the start. During public events surrounding the BayernDuring his visit to Singapore, Norbert Riedel, German Ambassador to Singapore, pledged that Germany would strengthen its presence and engagement in the region, with the aim of maintaining a rules-based multilateral order as well as the freedom of navigation in international waters. He and the German naval chief both spoke about the European approach and multilateralism to deployment, but only Schönbach acknowledged the apparent incongruity between the invocation of multilateralism and a unilateral military deployment. BayernThe deployment of was not only a somewhat sad commentary on the state of European navies, but also an odd way of underscoring a commitment to work with the allies.

The project was started under the leadership of former German Chancellor Angela Merkel, and is now overseen by her successor, Olaf Scholz. During her years in power, Merkel grew closer and closer to China, only acknowledging the problematic nature of that relationship at the end of her term, and leaving this new naval diplomacy plan to her successor for the ‘run. While Bayern Moored alongside the pier at Changi Naval Base in Singapore, Scholz made his first appeal as chancellor to Chinese President Xi Jinping.

Neither side seems to have mentioned the Bayern deployment, while Xi urged Scholz to continue and expand economic cooperation, and Scholz has reportedly clearly expressed his desire to deepen economic ties with China. This leaves Scholz walking a fine line, balancing a coalition deal that commits his government to pressure Beijing on human rights issues with the business opportunities presented by Berlin’s biggest trading partner. Schönbach has made it clear in his remarks to Singapore that Germany will send more larger naval missions in the future, as well as other military capabilities, but it is not clear whether Scholz’s coalition government will want to shake up the boat with the most provocative actions mentioned by Schönbach, such as transiting through the Taiwan Strait or disputed areas of the South China Sea. And if a Russian invasion of Ukraine continues to be a dangerous possibility, Germany may simply not have the bandwidth to tackle the Indo-Pacific.

In Singapore, Schönbach noted that seeing China’s expansion and size up close was very different from seeing it in Germany, and that he wanted to bring that perspective home to inform national opinions. But Berlin seems to start where many others did years ago: with the idea that economic engagement should, or even can, continue unabated while pushing back against destabilizing Beijing activities, or that International opprobrium will resound in the Chinese capital. It may not be long before Germany learns the same lesson as others that Beijing will not hesitate to retaliate against any activity it deems to be against its interests, regardless of the alleged intentions. from Berlin.

Germany could aspire to a third way for economic and diplomatic relations, unrelated to US-Chinese competition; however, this niche seems already occupied by France, and rightly so. With its history of engagement, its territorial interests and its permanent military presence in the Indo-Pacific, Paris is much better prepared to lead a major effort there. Thus, unless Germany considers joining a truly European effort, future deployments will remain free and limited in their usefulness – and Beijing, however many warnings Berlin has issued, can way to treat them as provocations.

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German American Bancorp, Inc. (NASDAQ: GABC) to report quarterly sales of $ 53.10 million https://wbts-forum.org/german-american-bancorp-inc-nasdaq-gabc-to-report-quarterly-sales-of-53-10-million/ Mon, 03 Jan 2022 08:13:46 +0000 https://wbts-forum.org/german-american-bancorp-inc-nasdaq-gabc-to-report-quarterly-sales-of-53-10-million/

Equity research analysts predict that German American Bancorp, Inc. (NASDAQ: GABC) will post $ 53.10 million in sales for the current quarter, Zacks Investment Research reports. Three analysts provided earnings estimates for German American Bancorp. The lowest sales estimate is $ 51.60 million and the highest is $ 54.00 million. German American Bancorp reported sales of $ 56.83 million in the same quarter last year, indicating a negative growth rate of 6.6% year-on-year. The company is expected to release its next earnings report on Monday, January 24.

Zacks says analysts expect German American Bancorp to report annual revenue of $ 217.10 million for the current fiscal year, with estimates ranging from $ 212.90 million to $ 223.00 millions of dollars. For the next year, analysts predict the company will post sales of $ 244.30 million, with estimates ranging from $ 239.60 million to $ 249.00 million. Zacks Investment Research sales averages are an average based on a survey of sales-side research analysts who cover German American Bancorp.

German American Bancorp (NASDAQ: GABC) last released its quarterly results on Sunday, October 24. The bank reported earnings per share of $ 0.81 for the quarter, beating analysts’ consensus estimates of $ 0.71 by $ 0.10. The company posted revenue of $ 56.84 million for the quarter, compared to analysts’ estimates of $ 53.50 million. German American Bancorp had a net margin of 37.01% and a return on equity of 13.50%.

Meanwhile, Zacks Investment Research downgraded German American Bancorp shares from a “hold” rating to a “sell” rating in a research report released on Tuesday, December 28.

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GABC shares opened at $ 38.98 on Monday. The company has a market cap of $ 1.03 billion, a price-to-earnings ratio of 12.03 and a beta of 0.70. The company has a current ratio of 0.75, a quick ratio of 0.75, and a debt ratio of 0.29. German American Bancorp has a 52 week low at $ 32.21 and a 52 week high at $ 51.11. The stock has a 50-day moving average of $ 40.30.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, November 20. Shareholders of record on Wednesday, November 10 received a dividend of $ 0.21. This represents an annualized dividend of $ 0.84 and a return of 2.15%. The ex-dividend date of this dividend was Tuesday, November 9. German American Bancorp’s dividend payout ratio is 25.93%.

Several hedge funds and other institutional investors have recently bought and sold shares in the company. Bank of New York Mellon Corp increased its position in shares of German American Bancorp by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 174,583 shares of the bank valued at $ 6,744,000 after purchasing an additional 4,496 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in German American Bancorp shares in the third quarter valued at approximately $ 659,000. BNP Paribas Arbitrage SA increased its position in German American Bancorp shares by 96.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,894 shares of the bank valued at $ 266,000 after purchasing an additional 3,385 shares during the period. Two Sigma Advisers LP increased its position in shares of German American Bancorp by 126.6% in the third quarter. Two Sigma Advisers LP now owns 32,400 shares of the bank valued at $ 1,252,000 after purchasing an additional 18,100 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of German American Bancorp by 31.1% in the third quarter. Two Sigma Investments LP now owns 24,950 shares of the bank valued at $ 964,000 after purchasing an additional 5,914 shares during the period. 43.12% of the shares are currently held by institutional investors.

About German American Bancorp

German American Bancorp, Inc is a holding company, which owns trust, brokerage and financial planning through German American Financial Advisors & Trust Co and German American Insurance, Inc. It operates in the business segments of following activities: Core Banking, Wealth Management Services, insurance operations and others.

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EU nuclear and gas-fired power plant funding project sparks anger https://wbts-forum.org/eu-nuclear-and-gas-fired-power-plant-funding-project-sparks-anger/ Sun, 02 Jan 2022 13:09:56 +0000 https://wbts-forum.org/eu-nuclear-and-gas-fired-power-plant-funding-project-sparks-anger/

Draft European Union plans that would allow nuclear and gas energy to continue to be part of the bloc’s path to a climate-friendly future came under immediate criticism over the weekend

BRUSSELS – The European Union’s draft plans that would allow nuclear and gas energy to continue to be part of the bloc’s path to a climate-friendly future were the subject of immediate criticism this weekend of the from environmentalists and some ruling political parties in EU member states.

In the draft conclusions consulted by the Associated Press, the EU Executive Board proposes a classification system to define what counts as an investment in sustainable energy. Under certain conditions, it would allow gas and nuclear energy to be part of the mix.

The plans would have a huge impact on nuclear economies like France and on gas-fired power plants in Germany, as they might have had to fundamentally change their strategies.

Energy consumption accounts for around three quarters of greenhouse gas emissions produced in the EU and is therefore essential to the efforts of the bloc of 27 countries to meet its commitments in the fight against global warming.

The plans still need the support of a large majority of the 27 member states and a simple majority in the European Parliament. But the initial push from the European Commission is a key part of the transition process.

“Classifying investments in gas and nuclear energy as sustainable contradicts the Green Deal”, the EU initiative which aims to make the bloc climate neutral by 2050, said Ska Keller, chairman of the Greens group in the European Parliament.

France has called for nuclear energy to be included in the so-called ‘taxonomy’ by the end of the year, leading the charge with several other EU countries that operate nuclear power plants and want to make it eligible green financing.

French European Affairs Minister Clément Beaune said the proposal was technically sound and insisted on Sunday that the bloc “cannot become carbon neutral by 2050 without nuclear power.

Germany, the EU’s largest economy, goes the other way, with Germany shutting down half of the six nuclear power plants it still had in operation on Friday, a year before the country pulled back the curtain final on its use of atomic energy for decades.

Gas is a polluting fossil fuel, but it is still seen by the EU as a bridge technology to achieve a cleaner energy future.

German Economy Minister Robert Habeck criticized plans to classify investments in gas and nuclear power plants as climate friendly.

“The European Commission’s proposals weaken the right label for sustainability,” told German news agency dpa Habeck, which represents the German Green Greens in the country’s coalition government. “We do not see how to approve the new proposals of the European Commission,” he said.

“In any case, one can wonder if this greenwashing will even be accepted on the financial market“, underlined Habeck, referring to the practice of describing investments as sustainable when they are not in reality.

In Austria, Climate Protection Minister Leonore Gewessler of the Greens also categorically rejected the proposed regulation, saying “the European Commission has taken a step towards greenwashing nuclear energy and fossil gas in a night and fog action “.

“They are harmful to the climate and the environment and destroy the future of our children,” said Gewessler.

The environmental NGO Greenpeace has described the Commission’s draft proposals as “greenwashing permits”.

“Polluting companies will be delighted to have the EU seal of approval to attract money and continue to destroy the planet by burning fossil gas and producing radioactive waste,” said Magda Stoczkiewicz of Greenpeace.

Nuclear power, in particular, remains extremely controversial in Europe, where many still vividly remember the fear that followed the 1986 nuclear accident in Chernobyl, Ukraine. In Germany, children were not allowed to play outside for months, could not go mushroom hunting for years, and farmers had to destroy their entire crop the same year.

On the flip side, nuclear power plants emit few pollutants into the air, making them an option as nations around the world seek clean energy to meet their climate change goals.

Climate activists also argue that the use of nuclear power risks slowing the deployment of renewable energy sources.


Grieshaber reported from Berlin. Barbara Surk contributed from Nice, France.

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German finance minister promises tax breaks from 2023 – Bild https://wbts-forum.org/german-finance-minister-promises-tax-breaks-from-2023-bild/ Sat, 01 Jan 2022 23:09:00 +0000 https://wbts-forum.org/german-finance-minister-promises-tax-breaks-from-2023-bild/

German Finance Minister Christian Lindner speaks at a plenary session of the lower house of the German parliament, the Bundestag, in Berlin, Germany, December 16, 2021. REUTERS / Annegret Hilse

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BERLIN, Jan.2 (Reuters) – Germany‘s new government will offer tax breaks to individuals and businesses worth at least € 30 billion ($ 34.1 billion) during this legislature, said Sunday Finance Minister Christian Lindner.

“We will relieve individuals and small and medium-sized enterprises of well over 30 billion euros,” Lindner told the Bild am Sonntag newspaper.

Noting that the 2022 budget was drawn up by the previous government of Chancellor Angela Merkel, Lindner said his plan for 2023 will include relief such as pension insurance contributions and the end of a surcharge on the price of electricity.

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Meanwhile, Lindner, leader of the budget-cautious Free Democrats (FDP), said he had asked his cabinet colleagues to review their ministries’ spending plans.

“We need to get back to sound public finances. We have a responsibility to the younger generation,” he said.

Lindner said one way to save money would be to ditch the construction of a new government terminal at Berlin’s BER Airport, which is expected to cost 50 million euros. He suggested that a temporary building could be used permanently.

The minister is also planning a tax bill to help businesses cope with the current coronavirus pandemic, in particular by allowing them to offset losses in 2022 and 2023 with profits from previous years.

Due to the pandemic, Chancellor Olaf Scholz’s ruling coalition agreed to use an emergency clause in the constitution for the third year in a row in 2022 to suspend debt limits and allow new borrowing of $ 100 billion. ‘euros.

From 2023, the coalition aims to return to the debt brake rule in the constitution which limits new borrowing to a tiny fraction of economic output.

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The common currency of Europe 02 celebrates its 20th anniversary https://wbts-forum.org/the-common-currency-of-europe-02-celebrates-its-20th-anniversary/ Sat, 01 Jan 2022 08:03:01 +0000 https://wbts-forum.org/the-common-currency-of-europe-02-celebrates-its-20th-anniversary/

FRANKFURT, Germany – The European Central Bank celebrated the 20th anniversary of the euro banknotes and coins on Friday as member countries tackle the impact of the pandemic on the economy and the European Union forges a new level of cooperation financial support to help stimulate recovery.

The event was celebrated at midnight on New Years Eve with an illuminated display in blue and yellow, the colors of the EU, projected onto its skyscraper headquarters in Frankfurt, Germany.

The introduction of banknotes and coins in 12 countries on January 1, 2002 was a logistical undertaking that followed the introduction of the euro for accounting and electronic payment purposes three years earlier, on January 1, 1999. Today , the euro is used in 19 of the 27 EU countries.

The introduction of cash saw the new euro banknotes and coins quickly replace German marks, French francs and Italian lire in ATMs, cash registers, wallets and purses. Shop customers who paid in old currencies received change in euros at fixed exchange rates. It swept the old currencies out of circulation as people spent their remaining national money.

Warnings of a logistical disaster did not come true. The President of the European Central Bank Christine Lagarde – in 2002, a lawyer in a global law firm – recalled having withdrawn her first euros from an ATM near her home in Normandy with friends who had predicted that the change would overload the machines. “We made a bet: if the machine gave us French francs instead of euro banknotes, they could keep the money,” she wrote on the website of the European Central Bank. “After midnight we tried the cash machine. It handed out brand new euro banknotes and we all raised a glass to the new European currency.”

The bank plans to redesign the banknotes, with a final decision on the new look expected in 2024. The original designs with generic windows, doors and bridges from different eras that do not represent any specific place or monument have undergone an update. relatively minor update since introduction. The bank is also studying a possible digital version of the currency.

The euro has had its ups and downs since its launch as a major European integration project. The monetary union has faced speculation that it will break down during a protracted public and bank debt crisis in 2011-15. The President of the European Central Bank, Mario Draghi, helped end the market turmoil with his July 26, 2012 pledge to “do whatever it takes” to preserve the euro, followed by the offer of the European Central Bank to buy the public debt of countries facing excessive borrowing costs.

Under Lagarde, the central bank rolled out a $ 2.1 trillion bond buying program aimed at lowering borrowing costs for companies so they could weather the worst of the pandemic.

In response to the pandemic, the governments of the European Union have taken a further step towards economic and financial integration by agreeing to borrow money together for the EU’s Next Generation stimulus fund of 918 billion euros. dollars. The fund aims to support the post-pandemic recovery by financing projects that help the economy reduce carbon dioxide emissions to fight climate change, and that support the growing use of digital technology.

Finance ministers from euro member countries said in a joint article published in major European newspapers that there was still work to be done to strengthen the shared currency, such as improving the way private investment crosses borders and strengthen joint banking supervision to avoid costly crises.

“None of these problems can be solved by countries acting alone,” they wrote. “The euro is proof of what we can achieve when we work together.”

Irish Finance Minister Paschal Donohoe, who heads the panel of finance ministers of Eurogroup member countries, said the currency “has strengthened its foundations over the past 20 years. It has been proven to cope with great challenges and great crises “.

A light installation is projected onto the European Central Bank building during a rehearsal in Frankfurt, Germany, Thursday, December 30, 2021. The light show will mark the 20th anniversary of the European currency, the euro, on the evening of New Years. (Photo / Michael Probst)

Photo A light installation is projected onto the European Central Bank building during a rehearsal in Frankfurt, Germany, Thursday, December 30, 2021. The light show will mark the 20th anniversary of the European currency, the euro, on the evening of New Years. (Photo / Michael Probst)
Photo A light installation is projected onto the European Central Bank building during a rehearsal in Frankfurt, Germany, Thursday, December 30, 2021. The light show will mark the 20th anniversary of the European currency, the euro, on the evening of New Years. (Photo / Michael Probst)
Photo A light installation is projected onto the European Central Bank building during a rehearsal in Frankfurt, Germany, Thursday, December 30, 2021. The light show will mark the 20th anniversary of the European currency, the euro, on the evening of New Years. (Photo / Michael Probst)
Photo A light installation is projected onto the European Central Bank building during a rehearsal in Frankfurt, Germany, Thursday, December 30, 2021. The light show will mark the 20th anniversary of the European currency, the euro, on the evening of New Years. (Photo / Michael Probst)
Photo A light installation is projected onto the European Central Bank building during a rehearsal in Frankfurt, Germany, Thursday, December 30, 2021. The light show will mark the 20th anniversary of the European currency, the euro, on the evening of New Years. (Photo / Michael Probst)

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Everything is set for the Invest Gambia New Years Eve Gala Merit Awards tonight – https://wbts-forum.org/everything-is-set-for-the-invest-gambia-new-years-eve-gala-merit-awards-tonight/ Fri, 31 Dec 2021 15:42:57 +0000 https://wbts-forum.org/everything-is-set-for-the-invest-gambia-new-years-eve-gala-merit-awards-tonight/

By: Bakary Ceesay

In recognition of the role and efforts of Gambians at home and abroad, investGambia is hosting the New Years Eve Mega Gala and Merit Awards, Gambia (MAG) on December 31, 2021 at Penchami Hall, Paradise Suites Hotel, Kololi , Gambia.

Invest Gambia (IG) is a non-profit financial institution providing properly structured debt financing

solutions for small and medium enterprises (SMEs) in The Gambia. The Invest Gambia group, while

offering returns in the market, aims to have a social impact. Invest Gambia focuses on lending for success

Gambian SMEs in need of financing for the growth or expansion of their activities, mainly as a senior secured offshore lender. It has structured financial offers with levels adapted to cash flow

production capacities of the SME.

Invest Gambia has members of management, staff and the credit committee who are independent of the Invest Gambia group and its activities. Understand that

medium-sized Gambian companies usually have different guarantees to offer more than their larger ones

counterparts, Invest Gambia Private Credit works with them on a flexible basis to ensure that deserving borrowers have access to appropriate debt financing.

Invest Gambia is a reputable establishment designed to guide, support, encourage and invite more

investors in The Gambia. At Invest Gambia, we believe that creating value goes through concentration

on corporate responsibility and sustainability alongside capital investments. Invest Gambia is

targeting growing SMEs with strong track records, proven cash-generating capabilities and viable business plans, in various industries except unethical or speculative industries.

Businesses don’t like the term “turnaround consultation” because it represents a failure. The truth is that

turnaround counseling represents success.

On the occasion of The Gambia’s 56th anniversary and in recognition of the role and efforts of

Gambians and the diaspora, Invest Gambia is organizing an international event on the 31

December 2021, with a focus on individuals, businesses, charities and professionals

associations, among others who continue to position the nation in a positive light through their

contributions to the Gambian community and to society in general.

Gambians do great things wherever they are, at home (Gambia) and abroad. This must not go

unnoticed! Invest Gambia proposed the Merit Awards, Gambia (MAG) to recognize and

appreciate the efforts of Gambians in national development. The gala evening and the awards are intended for

recognize individuals and organizations for their achievements and their commitment to society.

This event aims to introduce the public to Gambians in the diaspora and those living in The Gambia.

attention and celebration of excellence in national breakthroughs and achievements in the nation

and beyond.

The program is scheduled to take place on December 31, 2021 at Penchami Hall, Paradise Suites

Hotel, Kololi. We intend to reward a total of 100 Gambians who have contributed and continue to contribute to

national development. The purpose of this national event on New Years Eve 2021 is to honor the

participation of older people and young people in national development.

The categories of the Merit Awards, Gambia, include those who have excelled or contributed to the

the following areas of development include writing,

Agriculture, Information and Communication Technologies (ICT),

Science, technology and innovation, water resources,

Finance and economy, Youth and sports, Oil and gas / Energy,

Education, entertainment, arts and tourism, hotel and restaurant management, housing and real estate, transportation, fashion and aesthetics, philanthropy, leadership development, music and cinema.

Christopher Mendy, aka Gambian Chris Black, Managing Partner of Invest Gambia, told Voice Vibes that Gambians are doing great things wherever they are, at home and abroad. This should not go unnoticed!

“This international New Years Eve event aims to recognize and appreciate the efforts of Gambians who have changed the storytelling of how stories are told about The Gambia.

A young Gambian entrepreneur based in Germany explained that the event will provide Gambians with the opportunity to network with professionals, share business ideas, reconnect with new and old friends, dialogue on peace and advocate for national unity.

“There will be fireworks, dancing, art exhibitions, spoken poetry, music and unlimited entertainment. Help us spread the message using the hashtags: #investgambia #meritawardsgambia # 31december2021 “The gala will feature Gambian artist Hussain Dada, Musa Filly Jobarteh, Sophia, Miss Jobizz, Barhama, Nobles, Jalimadi and many more .

Views of the publication:

Weekly review of renewable mergers and acquisitions (Dec. 27-31) https://wbts-forum.org/weekly-review-of-renewable-mergers-and-acquisitions-dec-27-31/ Fri, 31 Dec 2021 11:45:00 +0000 https://wbts-forum.org/weekly-review-of-renewable-mergers-and-acquisitions-dec-27-31/

December 31 (Renewables Now) – Renewables Now has covered M&A stories on Vattenfall, Holaluz, Reliance, ACS and others in the last week of 2021. Here is the full list:

– Encavis sells 36.2 MW stake in its Austrian wind portfolio

German wind and solar farm operator Encavis AG (ETR: ECV) sells its remaining 51% stake in its 36.2 MW wind portfolio in Austria to state-owned company Wien Energie GmbH.

Learn more: https://renewablesnow.com/news/encavis-sheds-362-mw-austrian-wind-portfolio-stake-767165/

– GIP’s Eolian acquires stakes in the JV in energy storage portfolios

Eolian LP, a holding company of Global Infrastructure Partners (GIP), has taken full control of the energy storage development portfolios jointly developed with and managed by Able Grid Energy Solutions.

Learn more: https://renewablesnow.com/news/gips-eolian-acquires-jv-interests-in-energy-storage-portfolios-767203/

– Rio Tinto signs agreement on $ 825 million lithium project in Argentina

Anglo-Australian mining group Rio Tinto Plc (LON: RIO) has signed a binding agreement to buy for $ 825 million (729.4 million euros) a large undeveloped lithium brine project in Argentina.

Learn more: https://renewablesnow.com/news/rio-tinto-strikes-usd-825m-lithium-project-deal-in-argentina-767210/

– Energiekontor sells an 11 MW wind project in Lower Saxony

German renewable energy developer and operator Energiekontor AG (ETR: EKT) has sold the 11.2 MW Voelkersen wind project in Lower Saxony to an unnamed Austrian power company.

Learn more: https://renewablesnow.com/news/energiekontor-sells-11-mw-wind-project-in-lower-saxony-767211/

– SUNfarming buys a Polish 15 MWp solar project

German solar engineering company SUNfarming GmbH purchased a 15 MWp ready-to-go solar project in Poland and at the same time secured bridging financing for its construction, thus achieving the financial close.

Learn more: https://renewablesnow.com/news/sunfarming-purchases-15-mwp-polish-solar-project-767244/

– Spanish renewable energy supplier Holaluz buys Bulb’s unit in Spain

Spanish renewable energy retailer Holaluz Clidom SA (BME: HLZ) to acquire counterpart Bulb Energia Iberica SLU, a Spain-based unit of collapsed British electricity supplier Bulb which has been placed under special administration in its country original after encountering financial difficulties amid the gas-price rage.

Learn more: https://renewablesnow.com/news/spanish-renewable-power-supplier-holaluz-to-buy-bulbs-unit-in-spain-767245/

– Vattenfall sells part of Princess Ariane 301 MW wind farm to Dutch insurer

Swedish electricity company Vattenfall AB will sell part of its 301 MW Princess Ariane onshore wind farm in the Netherlands to Dutch insurance company ASR Nederland NV (AMS: ASRNL).

Learn more: https://renewablesnow.com/news/vattenfall-selling-part-of-301-mw-princess-ariane-wind-farm-to-dutch-insurer-767257/

– A2A will take control of the Italian renewable energy company with an 800 MW pipeline

The Italian utility A2A SpA (BIT: A2A) announced the signing of a firm agreement to acquire a majority stake in Volta Green Energy Srl as well as a pipeline of wind and solar projects with a total potential capacity of 800 MW.

Learn more: https://renewablesnow.com/news/a2a-to-take-control-of-italian-renewables-firm-with-800-mw-pipeline-767260/

– ReneSola to abandon 12 MWp solar development in Spain

ReneSola Ltd (NYSE: SOL) has entered into an agreement to sell its stake in a 12 MWp portfolio of photovoltaic projects in Spain.

Learn more: https://renewablesnow.com/news/renesola-to-shed-12-mwp-solar-development-in-spain-767372/

– Innergex gets rid of its majority stake in a 200 MW Texas wind farm

Canadian power producer Innergex Renewable Energy Inc (TSE: INE) has completed the sale of its 51% stake in the 200 MW Flat Top wind farm in Texas.

Learn more: https://renewablesnow.com/news/innergex-gets-rid-of-majority-stake-in-200-mw-texan-wind-farm-767429/

– Encavis buys the rest of Spain’s 300 MWp solar park from Statkraft

German independent power producer Encavis AG (ETR: ECV) announced the acquisition of the 19.99% stake it did not already own in the 300 MWp Talayuela solar farm in Spain, reaching the point where it holds 99.6% of its entire solar portfolio.

Read more: https://renewablesnow.com/news/encavis-buys-rest-of-300-mwp-spanish-solar-park-from-statkraft-767434/

– NTPC seeks strategic investor in renewable energy sector ahead of IPO – report

Indian energy company NTPC Ltd (BOM: 532555) intends to find a strategic investor for its renewable energy unit ahead of its initial public offering (IPO) scheduled for October 2022, a senior official told the Press Trust of India (PTI).

Read more: https://renewablesnow.com/news/ntpc-to-look-for-strategic-investor-in-renewables-arm-before-ipo-report-767472/

– Sonnedix buys 37 MW of solar parks in Spain

Global independent solar power producer (IPP) Sonnedix Power Holdings Ltd has completed the acquisition of 36.8 MW of solar photovoltaic (PV) plants in Spain.

Learn more: https://renewablesnow.com/news/sonnedix-buys-37-mw-of-solar-farms-in-spain-767483/

– Octopus Renewables invests in joint ventures to develop up to 570 MW of wind farms in the UK

Octopus Renewables Infrastructure Trust Plc (LON: ORIT) has invested £ 2.5million (US $ 3.4million / € 3million) in nine newly formed Joint Ventures (JVs) with UK onshore wind developer Wind 2 Ltd.

Learn more: https://renewablesnow.com/news/octopus-renewables-invests-in-jvs-to-develop-up-to-570-mw-of-uk-wind-farms-767527/

– Scout buys 369 MW solar project in Illinois from RES

Scout Clean Energy LLC has acquired a 369 MW direct current (DC) solar project in Illinois and plans to invest more than $ 400 million (€ 353 million) to build the park.

Read more: https://renewablesnow.com/news/scout-buys-369-mw-solar-project-in-illinois-from-res-767680/

– Reliance Industries to acquire UK battery company Faradion for £ 100million

Indian conglomerate Reliance Industries Ltd (BOM: 500325) has agreed to acquire UK sodium-ion battery technology developer Faradion Ltd in an enterprise value deal of £ 100million (119 , US $ 4 million / € 119.4 million).

Learn more: https://renewablesnow.com/news/depend-industries-to-acquire-uk-battery-co-faradion-for-gbp-100m-767683/

– Sterling & Wilson Renewable grants shares to Reliance

Sterling & Wilson Renewable Energy Ltd (BOM: 542760), or SWREL, has approved a stock award that would give Reliance New Energy Solar Ltd a 15.46% stake in the company.

Learn more: https://renewablesnow.com/news/sterling-wilson-renewable-okays-share-allotment-to-dependance-767694/

– Photon Energy increases its stake in Polish VPP developer Lerta

Dutch solar energy and drinking water company Photon Energy NV (WSE: PEN) increased its stake in Polish company Lerta SA to 24% by participating in a Series A round of funding from the developer of the virtual power plant (VPP).

Learn more: https://renewablesnow.com/news/photon-energy-ups-stake-in-polish-vpp-developer-lerta-767697/

– Heliogen finalizes its merger with the blank check company

Heliogen Inc, a California developer of concentrated artificial intelligence (AI) -based solar technology, has completed its merger with specialist acquisition company Athena Technology Acquisition Corp (NYSE: ATHN).

Learn more: https://renewablesnow.com/news/heliogen-completes-merger-with-blank-check-company-767699/

– Darling Ingredients to get more green fuel raw materials with Valley Proteins buy

Texas-based Darling Ingredients Inc (NYSE: DAR) has agreed to acquire Valley Proteins Inc, which will strengthen its green fuel capabilities.

Learn more: https://renewablesnow.com/news/darling-ingredients-to-get-more-green-fuel-feedstock-with-valley-proteins-buy-767715/

– Vinci finalizes the purchase of 4.9 billion euros of the ACS energy business

The French concessions and construction group Vinci SA (EPA: DG) has finalized the purchase of the energy business, including the renewable energy platform, from ACS Actividades de Construccion y Servicios SA (BME: ACS).

Read more: https://renewablesnow.com/news/vinci-wraps-up-eur-49bn-buy-of-acs-energy-biz-767714/

– Sonnedix buys 100 MW of solar from ACS in Spain

Independent solar power producer (IPP) Sonnedix Power Holdings Ltd has completed the acquisition of an operational 100 MW solar photovoltaic (PV) portfolio in Spain.

Learn more: https://renewablesnow.com/news/sonnedix-buys-100-mw-of-solar-from-acs-in-spain-767709/

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Actions that will be in action today https://wbts-forum.org/actions-that-will-be-in-action-today/ Thu, 30 Dec 2021 03:10:39 +0000 https://wbts-forum.org/actions-that-will-be-in-action-today/

Bank securities: The Reserve Bank of India’s macro stress tests for credit risk show that the gross NPA ratio of programmed commercial banks could drop from 6.9% in September 2021 to 8.1% by September 2022 in the baseline scenario and 9.5% in a severe stress scenario. According to the latest RBI Financial Stability Report (FSR), the bank-led model of credit growth faces headwinds even as lender inquiries volumes show growing credit demand of the share of high-risk consumers, especially after the second wave of Covid.

Puravankara: The Board of Directors has adopted an enabling resolution to approve a proposed transaction and has entered into a framework agreement with Keppel Puravankara Development Private Ltd (KPDPL) – an associated company. The company owns 49 percent of the registered capital of KPDPL, which has a residential project and a commercial project. The business plan is being split into a separate wholly owned subsidiary of KPDPL and following the split of the KPDPL business plan into a separate wholly owned subsidiary the company will be allocated 49% of the WOS shares of KPDPL. Upon the allotment, the company will sell its 49 percent stake in KPDPL’s WOS to Keppel Investment (Mauritius) Pte Ltd for a consideration of 112 crore.

NMDC: The Goa cabinet on Wednesday approved a policy to allow the export of iron ore landfills, which will allow mining to resume in the coastal state for the next four to five years.

Rane Holdings: ZF increased its stake to become a majority shareholder with 51 percent in the Rane TRW Steering Systems joint venture of the Rane group. Until now, the two partners have held equal shares in the company. Going forward, the joint venture will operate in the market as ZF Rane Automotive India. The name change reflects the enhanced cooperation between the partners.

Futuristic Confidence: The board of directors of Confidence Futuristic Energetech Ltd has approved the allotment of 1,05 10,000 equity shares of 10 each to 120 per share on a preferential basis, to the promoter / group of promoters and others (i.e. i.e. people / entities not part of the promoter and promoter group).

Deep industries received an award letter from GSPC LNG Limited (GLL) for the lease of gas compression services at the GSPC LNG terminal, Mundra, Gujarat, India for a period of 5 years. The estimated total value of said reward is approximately 44.40 crore.

Kimia Biosciences Limited has been recognized / validated for the supply of pharmaceutical raw materials to Bangladesh by the General Directorate of Drug Administration & Licensing Authority (Drugs), Govt. of the People’s Republic of Bangladesh. This source validation certificate is valid for 3 years from the date of issue.

Pioneer Embroidery Limited (PEL), one of the main players and owners of the “Silkolite” brand of specialty polyester filament yarns (SPFY), is continuing its expansion project in SPFY on schedule. The company has already placed the major equipment order with a German manufacturer of quality textile extrusion equipment, along with advance payments, which would ensure delivery by the third quarter of fiscal year 23. The equipment is mainly financed by a German bank. Construction work on the land adjoining the company’s existing manufacturing plant in Kala Amb, Himachal Pradesh is progressing well, with foundation work already completed.

Lambodhara textiles Limited offered to install a 3.1 MW DC and 2.4 MW AC ground-mounted grid-based solar power plant in Manaparai, Trichy district, Tamil Nadu, at an estimated cost of 14.90 crore for purposes of captive consumption, which would help the company reduce its dependence on non-renewable energy sources. As a result, 90 percent of the company’s energy consumption will be green energy.

Global KPI infrastructure received the confirmation of the order for the execution of a solar energy project with a capacity of 10 MWDC of M / s. Colourtex Industries Private Limited, Surat under the “Captive Power Producer (CPP)” segment of the company.

Sharika Enterprises received an order from the Power Grid Corporation of India for the implementation of a smart city project at the Powergrid Township project in the amount of 1.74 crore.

Varun drinks Limited has incorporated a new company – Varun Beverages RDC SAS – in the Democratic Republic of the Congo to carry on the business of manufacturing, selling, trading and distributing carbonated and non-carbonated drinks.

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