COST Financial News

solar capacity will double to 1,000 gigawatts (GW) by the end of 2026 as the world's second-largest economy continues to ramp up investment in renewables, energy research firm Rystad Energy wrote in a note published on Monday. Beijing had set a goal of boosting the country's installed capacity of wind and solar power to more than 1,200 GW by 2030. China had installed 365 GW of wind power capacity and 392 GW of solar capacity by the end of last year — about a third of the world's total.

Nyoma Airfield in Eastern Ladakh virtually, Defence Minister Rajnath Singh on Tuesday said that one of the world's highest airfields will boost the air infrastructure and would prove to be a game-changer for the Armed Forces. The Nyoma Airfield will be built at a cost of around Rs 200 crore and is located just 35 km from the Line of Actual Control (LAC) in the Eastern Ladakh sector. The Defence Minister was dedicating to the nation, the 90 infrastructure projects of the Border Roads Organisation (BRO), at an event here in Jammu. The projects are worth over Rs 2,900 crore and spread across 11 states/Union Territories. These include the Nechiphu Tunnel in Arunachal Pradesh; two airfields in West Bengal; two helipads; 22 roads and 63 bridges.

MUMBAI : Small borrowers or those with loans of up to ₹2 lakh have started to utilise less of their sanctioned credit limits after December as interest rates rose, indicating a reluctance to take on additional debt. Calculations based on recent data released by the Reserve Bank of India (RBI) showed that from a utilisation of 67.3% in December, and 66.9% in March, it stood at 65.5% in June, even as their total credit limit grew in the same period. RBI defines ‘small borrowal account’ as one with a credit limit of up to ₹2 lakh, with holders of these accounts being individuals or entities with relatively small credit requirements.

By Lisa Baertlein and Priyamvada C

By Rajesh Kumar Singh, Abhijith Ganapavaram and Valerie Insinna

Most Canadians are prepared to see home values fall, according to a new poll, suggesting some homeowners are willing to give up a bit of their own wealth to improve affordability for others.

MONTREAL — SNC-Lavalin Group Inc. says it is changing its name to AtkinsRealis in a rebranding move after a tumultuous decade for the engineering giant.

MFI) in Karnataka have a loan portfolio of Rs 46,000 crore as on March 2023, showing more than 10% in year-on-year growth, according to an impact report by the Association of Karnataka Microfinance Institutions (AKMi). The association released a sector report for fiscal year 2022-23 in the Microfinance Karnataka Summit – 2023 on Tuesday. The study, which claimed to cover 16,000 customers in seven districts across the state, said that 89% of the surveyed customers preferred MFIs over other lenders and 90% of the loans were for income-generating purposes, like starting a small business. On the other hand, the study revealed that product structures were unsustainable in case of micro-loans, as businesses which used them did not necessarily generate a regular monthly income.

NAPLES, Fla.—Judy Schroeder was living a stable retirement in this affluent Florida enclave. Then her apartment building was sold to a new owner during the pandemic and she lost her part-time job working at a family-owned liquor store. What followed was a swift descent into homelessness.

Louise Smoczynski is enjoying a quiet retirement in Madison, Wis., but she and her friends are starting to have health problems. Ken Diller is a biomedical engineering professor in Austin, Texas, who has taught for 50 years and isn’t ready to spend his days relaxing on a beach. They have one thing in common: They were born on Nov.

Unions aren’t the force in the U.S. that they used to be. That doesn’t mean they can’t pack a punch.

Amazon.com on Tuesday will unveil its new Manhattan office at the former Lord & Taylor flagship department store, a transformation that highlights how complex office conversions can be. Turning a Fifth Avenue department store that is more than a century old into a modern office came with plenty of challenges. Amazon had to add bathrooms, kitchens, new elevators and stairs wide enough for a rush of office workers.

Russian President Vladimir Putin on Tuesday waded into the debate over the criminal charges faced by Republican election candidate Donald Trump, saying the cases against the former U.S. president amount to political “persecution" and expose U.S. weakness.

MONTREAL — Passengers aren’t the only ones feeling cramped these days.

Anne Guirguis had worked at Qantas for 27 years when she was sacked from her job cleaning international aircraft in Sydney during the depths of COVID-19 in February 2021.

Some food-based commodities that may not have granted their investors a fair handshake before seem to be giving them a lot more now.

Project Sela leaned on the Bank of Israel's cyber security expertise and ongoing work on the digital shekel and the Hong Kong Monetary Authority's (HKMA) learnings from Project Aurum and e-Hong Kong Dollar. In Sela, the rCBDC ledger is operated by the central bank without compromising end user privacy as personal identifiers are obfuscated.

India has been working on a CBDC for years, under the belief that a digital rupee could reduce costs associated with physical cash management, boost financial inclusion, improve efficiency, and encourage innovation in cross-border payments.YES Bank is one of four lenders to have been picked by the RBI for an eRupee retail pilot, using a unique QR code mechanism for conducting transactions. Now, users can scan any UPI QR code through the YES Bank Digital Rupee app, expanding the CBDC's reach.

Infosys has announced a multi-year digital transformation deal with Denmark-based STARK Group, a business-to-business (B2B) distributor of building materials. The transformation will also involve leveraging Infosys' artificial intelligence (AI) suite of services Topaz. The size and tenure of the deal was not publicly disclosed. As part of this collaboration, Infosys and STARK Group will establish a data centre in Denmark, which will serve as the foundation to drive tech advancements in the collaboration and provide services to STARK Group’s offices across Europe.

iPhone speaker dock I was given by my mum the previous Christmas is blasting out Carly Rae Jepson’s Call Me Maybe which, unlike most of the other hits that year, would come to stand the test of time quite perfectly. Less enduring would be the 30-pin Apple charger that made such a fine technological feat possible. That year would see it ditched; replaced in the iPhone 5 with the 8-pin, 80% smaller Lightning connector we all recognize today.

(Reuters) — A tight U.S. labor market, expiration of cyclical contracts and high living costs have triggered tough negotiations for pay hikes and other benefits by workers and strikes and protests across industries.