Cash-strapped Pakistan is likely to receive investments for development projects, including roads and sewerage plants, worth USD 1.4 billion by the China-led Asian Infrastructure Investment Bank (AIIB), according to a media report.The Beijing-based AIIB is considering investment in the Karachi Bus Rapid Transit (BRT) project, Rawalpindi's Ring Road project, Lahore Waste Water Management project and Karachi Water and Sewerage Service project among others, the Express Tribune reported on Friday."Work on projects amounting to USD 4 million is in progress while projects worth USD 1 billion are awaiting approval, Laurel Ostfield, AIIB head of communications, said on Thursday.Close Last month, Pakistan said that the Saudi Arabia headquartered Islamic Development Bank was providing it a three-year USD 4.5 billion oil financing facility, which will ease pressure on its balance-of-payments. related news EU offers technical assistance to Pak for FATF action plan implementation Hong … [Read more...] about AIIB likely to invest $1.4 bn for development projects in Pakistan
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited told the Annual General Body of his company in a meeting in Mumbai on Monday that a special task force would be set up to identify potential investments in Jammu and Kashmir and Ladakh. "Responding to Honorable Prime Minister's appeal, we stand committed to support the people of Jammu and Kashmir and Ladakh in all their developmental needs. Reliance will create a special task force, and you will see a lot of announcements on Jammu and Kashmir and Ladakh in our developmental initiatives in the coming months," Ambani told the company's shareholders. "There is every possibility of Jammu and Kashmir and Ladakh becoming one of the greatest tourist destinations. The kind of environment required for this and the change in administration that is needed is being taken care of. But for this I need the support of all the countrymen," Modi said in a special address to the nation last week. Modi had suggested tourism, film … [Read more...] about India’s Largest Business Conglomerate to Invest in Development of Jammu and Kashmir
Just after calling the general election, Boris Johnson’s government made two almost simultaneous policy announcements that encapsulated the longstanding contradictions of environmental policy over the past decade. His decision to announce a moratorium on fracking – which the Labour party pointed out was a temporary commitment rather than a ban – made headlines and was heralded as a signal of green intentions, but the go-ahead for a new deep coalmine in Cumbria was slipped out to little fanfare. The conflicting signals were in keeping with a decade of green policy under the Conservative-led coalition and two Tory governments, in which U-turns and see-sawing policy changes have cheered and infuriated campaigners and green businesses alike. A 25-year environment plan and a target for net zero carbon emissions by 2050 have been highlights since the last general election, but the policies needed to implement them remain mired in confusion. “[There has been] a … [Read more...] about Are the Tories’ green commitments all talk and little action?
The number of jobs in renewable energy in the UK has plunged by nearly a third in recent years, and the amount of new green generating capacity by a similar amount, causing havoc among companies in the sector, a new report has found. Prospect, the union which covers much of the sector, has found a 30% drop in renewable energy jobs between 2014 and 2017, as government cuts to incentives and support schemes started to bite. It also found investment in renewables in the UK more than halved between 2015 and 2017. The union compared the situation to the devastation caused to coalmining communities in the 1980s and demanded instead a “just transition” to clean energy. The Prospect report analysed and collated data taken from various sources, including the government, surveys and industry. Sue Ferns, the senior deputy secretary general at Prospect, told the Guardian: “The government’s market-led approach has failed, and resulted on offshoring green jobs while UK … [Read more...] about Renewable energy jobs in UK plunge by a third
Tens of millions of new jobs can be created around the world in the next two decades if green policies are put in place to switch the high-carbon economy to low-carbon, the UN has said. Between 15m and 60m additional jobs are likely, according to a new report from the United Nations Environment Programme (Unep). These are net gains in employment for the world economy, taking into account any job losses in high-carbon industries that fail to transform. Achim Steiner, executive director of Unep, said: "The findings underline that [the green economy] can include millions more people in terms of overcoming poverty and delivering improved livelihoods for this and future generations. It is a positive message of opportunity in a troubled world of challenges." As well as generating net new gains in the number of jobs, the switch to a green economy could help to lift millions of people out of poverty. In the US, there are now about three million "green jobs", in sectors such as wind power and … [Read more...] about Switching to a green economy could mean millions of jobs, says UN