Year: 2021

Biden Team Eyes Potential Threat From China’s Digital Yuan

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The Biden administration is stepping up scrutiny of China’s plans for a digital yuan, with some officials concerned the move could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency, according to people familiar with the matter. Now that China’s digital-currency efforts are gathering momentum, officials at the Treasury, State Department, Pentagon and National Security Council are bolstering their efforts to understand the potential implications, the people said. American officials are less worried about an immediate challenge to the current structure of the global…

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India’s L&T wins order for world’s biggest solar power plant in Saudi Arabia

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DUBAI: Mumbai-headquartered Larsen & Toubro (L&T) has secured a contract to build the Sudair solar PV project in Saudi Arabia. The renewables arm of L&T’s Power Transmission and Distribution business has bagged the turnkey engineering, procurement, and construction contract for the Riyadh plant, which has a total capacity of 1.5 gigawatts – the biggest in the world. “The project that is coming up in Riyadh Province has a 30.8 square kilometre land parcel available to install a total capacity of 1.5GW PV Solar modules with associated single axial tracker and inverters,”…

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UAE records world’s second-highest hotel occupancy rate in 2020

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Hotels in the UAE were the world’s second busiest after China in 2020 due to government efforts to contain the spread of the Covid-19 virus, encourage domestic tourism and take measures to accelerate the sector’s recovery, the Ministry of Economy said. The country hosted 14.8 million guests who spent an average of 3.7 nights at 1,089 establishments last year for a hotel occupancy rate of 54.7 per cent, according to the World Tourism Organisation and the Emirates Tourism Council. “The UAE was able to quickly contain the outbreak’s impact on…

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Pak-Italy Friendship bridge’ inaugurated in Khairabad, Chitral

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A suspension bridge was inaugurated in Khairabad District, Chitral to solve the problem of rural isolation that has been affecting the community especially during the time of heavy rainfall. Due to adverse conditions and limited mobility, residents were deprived of crucial socio-economic opportunities. The bridge has been constructed in partnership with Pakistan Poverty Alleviation Fund (PPAF) and Sarhad Rural Support Programme (SRSP) under the Programme for Poverty Reduction (PPR) by Italian Agency for Development Corporation ((AICS) Pakistan. Khairabad is comprised of 5 sub-villages (Khaiabad Khas, Thok Jal, Dhap, Junali, Camp)…

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PM Imran invites Bill Gates to work together in combating climate change

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Prime Minister Imran Khan has written a letter to Microsoft co-founder Bill Gates and invited him to work together to save the world from the dangers of climate change. PM Imran, in his letter has said that Pakistan is on the front lines of climate challenge and is amongst the top countries “continuously impacted” by climate change over the past two decades but at the same time it is a very low contributor to the issue, adding less than one percent of the global greenhouse gas emissions. The prime minister…

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