Category: News & Announcement

Short interest on Tesla is set to make the EV maker’s stock the first stock to hit US$20 billion in bets against it, data from financial analytics firm S3 Partners showed, as short sellers seem unfazed by Elon Musk’s open mocking in recent days. Short interest in Tesla has reached US$19.95 billion, S3 Partners data, cited by Business Insider, shows. While Tesla’s stock continues to rally, closing at a record $1,394 on Thursday, Ihor Dusaniwsky, managing director of S3 Partners, said in a note on the same day that Tesla…

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Indian scientists have developed nanoparticle-based solar panel coating that minimizes dust deposition and enables easy cleaning by the action of water, thus preventing a reduction in panel efficiency due to soiling.The coating was developed by the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), an autonomous organization of the Department of Science and Technology.Key features of this novel coating are its low cost, highly transparent nature (no loss in transmittance or power conversion efficiency), super-hydrophobic property (water contact angle more than 110°), high weather stability and high…

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Minister for Planning, Development and Special Initiatives Asad Umar on Thursday said the lack of a proper power transmission and distribution system in Karachi was the reason behind increased load shedding in the metropolis and promised that the federal government will improve it in “record time”. Speaking on the floor of the National Assembly, Umar said the main reason behind a weak distribution and transmission system was the apathy of previous governments, including those led by the PPP and the PML-N. The minister said “the work they [previous governments] did…

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Mexico’s state-owned oil firm Pemex, which has US$105 billion in debt, is planning a debt swap for a total of US$22.4 billion long-term bonds, according to a filing to the SEC reported by Reuters. The Mexican oil firm has been amassing enormous debt for years, and in October last year, it carried out a massive operation to refinance around US$20 billion of its debt via new bond offerings and debt swaps. Mexico’s leftist populist President Andrés Manuel López Obrador planned to make Pemex the pillar of a turnaround for the…

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A new innovation center in Norway aims to find alternative and cost-efficient solutions aimed at reducing the huge US$100 billion decommissioning cost that the North Sea operators and countries face, researchers and officials told Bloomberg. The SFI Swipa (Subsurface Well Integrity, Plugging and Abandonment) center was granted the status of Center for Research-Driven Innovation for the next eight years by government-run Board of the Research Council of Norway. The SFI Swipa center and its researchers will look into innovative ways for well plugging and abandoning (P&A), which makes up much…

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