Month: March 2020

Railway Ministry has planned to electrify the remaining broad gauge routes on the network by the month of December 2023 Indian Railways bets big on electrification and renewable energy! The Indian Railways network will be completely electrified soon as Piyush Goyal-led Railway Ministry has planned to electrify the remaining broad gauge routes on the network by the month of December 2023. Recently, in a written reply to a question in the Rajya Sabha, Union Railway Minister Piyush Goyal shared that the Railway Ministry has planned to source around 1000 megawatt (MW)…

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Hong Kong (CNN)Factories were shuttered and streets were cleared across China’s Hubei province as authorities ordered residents to stay home to stop the spread of the coronavirus.It seems the lockdown had an unintended benefit — blue skies.The average number of “good quality air days” increased 21.5% in February, compared to the same period last year, according to China’s Ministry of Ecology and Environment.And Hubei wasn’t alone.Satellite images released by NASAand the European Space Agency show a dramatic reduction in nitrogen dioxide emissions — those released by vehicles, power plants and industrial…

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The Government of Pakistan (GoP) and Independent Power Producers (IPPs) have reportedly reached an agreement to resolve prolonged outstanding issues and litigation at different domestic and international fora, sources close to CEO CPPA-G told Business Recorder. Sharing the background, the sources said that pursuant to the Prime Minister’s directive for the resolution of issues with IPPs several meetings were held between the Power Division and the representatives of IPPs. The discussions have led to development of a commercial understanding document. The sources said settlement agreements would be signed with the Altas…

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Crude oil prices fell further today, with WTI prices falling to 18-year lows, after the Energy Information Administration’s latest weekly inventory report that estimated a 2-million-barrel build for the week to March 13. The agency reported that at 453.7 million barrels, crude oil inventories in the United States were 3 percent below the five-year average for this time of the year. Analysts had expected an inventory build of 2.94 million barrels, after last week the EIA reported an inventory increase of 7.7 million barrels, adding to pressure on prices. This week, the authority also reported an…

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The markets can’t seem to catch a break, with the Dow dropping below 20,000 points for the first time since 2017 as the coronavirus crisis continues to fuel a massive stock selloff despite governments across the world scrambling to inject some relief into the global economy. Oil, for its part, is also feeling the sting, with WTI falling to $23.27 and Brent falling to $27.82. With one of the most volatile trading weeks on record since the 1929 Great Depression, money managers are increasingly calling for a full closure of the stock markets.…

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