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The main contract of industrial silicon rose by more than 3% and is now quoted at 8,995 yuan/ton.On September 15, the overnight shibor was 1.4080%, up 4.10 basis points; the 7-day shibor was 1.4700%, up 1.00 basis points; the 14-day shibor was 1.5040%, down 2.00 basis points; the January shibor was 1.5330%, up 0.10 basis points; and the March shibor was 1.5530%, the same as the previous trading day.According to futures data on September 15, overnight shibor was 1.4080%, up 4.10 basis points; 7-day shibor was 1.4700%, up 1.00 basis points; 14-day shibor was 1.5040%, down 2.00 basis points; January shibor was 1.5330%, up 0.10 basis points; March shibor was 1.5530%, the same as the previous trading day.On September 15th, Pop Mart (09992.HK) plunged nearly 9% on Monday, its biggest drop since April, hitting its lowest level in over a month, after JPMorgan Chase downgraded its rating to neutral, citing a "lack of catalysts and unattractive valuation." This followed social media posts pointing to weak demand for its new "SKULLPANDA" product, and JPMorgans downgrade heightened market concerns about waning popularity. JPMorgan analysts Kevin Yin and others stated in a report: "Current valuations already reflect perfect expectations. Any minor fundamental disappointment or negative media coverage (such as falling pre-owned prices or third-party licensing issues) could trigger a share price decline." Although the stock has still risen over 180% this year, its 12-month forward price-to-earnings ratio is now close to 23 times.On September 15th, the market generally expected the Federal Reserve to cut interest rates by 25 basis points this week, but uncertainty remained about the direction of the policy once it was implemented. Marc Giannoni, Barclays chief US economist, stated that with inflation remaining subdued, the FOMC will judge that downside risks to achieving its employment goals are increasing. He added that the Feds economic projections remained largely unchanged, but the dot plot indicated three rate cuts (each 25 basis points) this year, one each in 2026 and 2027, while the median long-term interest rate forecast remained unchanged at 3.0%.

EU Plans to Issue One-year Renewable Energy Licenses to Accelerate Green Shift

Charlie Brooks

May 10, 2022 09:46

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A draft paper indicates that the European Union executive aims to accelerate the bloc's green transition and reduce its dependency on Russian fuels by allowing some renewable energy projects to acquire permits within a year.


Brussels will present next week a package of steps to decrease the European Union's dependence on Russia by promoting renewable energy, conserving energy, and expanding gas imports from other countries.


The draft legislative proposal indicates that the European Commission will propose rules forcing countries to designate "go-to zones" of land or water suitable for renewable energy projects, where such projects would have minimal environmental impact.


This could be extended by three months under "exceptional circumstances."


This is in contrast to the EU's present two-year deadline for permitting such schemes, which can be extended by an additional year. According to the plan, projects outside of go-to locations would adhere to this timeframe.


However, renewable projects frequently suffer even lengthier delays due to red tape, local opposition, or concerns about safeguarding endangered species, generating concerns that the bloc may struggle to increase wind and solar energy quickly enough to fulfill climate change objectives.


According to the Hellenic Wind Energy Association, it typically takes eight years to approve wind energy projects in Greece.


"Renewable energy sources are essential to combat climate change, cut energy prices, lessen the Union's reliance on fossil fuels, and safeguard the Union's supply security," the document stated.


The approval and construction of renewable energy projects would be deemed to be in the "overriding public interest," allowing for a streamlined evaluation. The proposal said that EU people will continue to have the ability to participate in project choices.


Avoiding protected regions and bird migration routes, priority would be given to constructed areas such as rooftops, roads and railways, industrial sites, and public land surrounding them.


The general areas would be subject to an environmental review, but individual projects would no longer require one unless they had a major impact on the environment in another EU country, according to the proposal.


Smaller projects with a capacity of less than 150 kW in go-to zones would experience a six-month approval process, or nine months if there are safety or power system impact concerns.


The expedited permission rules would not apply to facilities that generate energy by burning biomass.