Brazilian President Luiz Inacio Lula da Silva signed a historic bill into law on Friday, enabling the construction of offshore wind farms to improve Brazil's energy security and spur investment in renewable energy. The legislation creates a comprehensive regulatory framework for offshore wind energy, with incentives to promote sector growth, create jobs, and increase the nation's energy resiliency. It also specifies allowed energy generation areas, such as the country's territorial sea, exclusive economic zone, and continental shelf. Furthermore, the law requires informed consultation w
Thailand had approximately 35.54 million foreign tourists in 2024, a 26.27% increase from the previous year, owing to relaxed entrance requirements and visa exemption policies, according to the Thai Ministry of Tourism and Sports. China was the leading source of tourists, with 6.73 million visits, followed by Malaysia (4.95 million) and India (2.12 million). Tourism revenue was roughly 1.67 trillion baht ($48.45 billion) in 2024, a 34% increase over the previous year. Thailand launched an online electronic visa system in January to increase tourism, which is accessible globally through Tha
Non-oil business activity in the UAE surged in December, with the Purchasing Managers’ Index (PMI) rising to 55.4 from 54.2 in November, according to an economy tracker. This nine-month high reflects strong demand and continued growth in the non-oil private sector. S&P Global attributed the robust expansion to favorable market conditions, highlighting the UAE’s progress under Vision 2031. This strategy focuses on diversifying the economy by promoting industries like manufacturing, tourism, and technology to ensure sustainable growth. David Owen, a senior economist at S&P Glo
Singapore is making a bold move in its energy transition with the construction of a groundbreaking hydrogen power plant. PacificLight Power is leading this initiative, investing US$1 billion in a 600-megawatt facility on Jurong Island. This state-of-the-art plant will start by using a mix of hydrogen and natural gas, with the potential to switch entirely to hydrogen in the future. It is set to become Singapore’s largest and most efficient combined cycle gas turbine power plant. The plant’s focus on clean energy aims to cut carbon emissions significantly, supporting Singapore’s goa
India’s coal production surged by 5.33% in December 2024, reaching 97.94 million tonnes (MT), as reported by the Ministry of Coal. This growth highlights the government’s ongoing efforts to meet the country’s rising energy demands and strengthen coal supply chains. Key contributors to this increase include Coal India Limited (CIL), which produced a significant share of the total coal output. The production spike also comes as part of India’s strategy to enhance energy security and reduce dependence on coal imports. Power plants across the country have also improved their coal st
India's GST revenue for December 2024 rose by 7.3% year-on-year, totaling ₹1.77 lakh crore. The breakdown is as follows: Central GST (CGST): ₹32,836 crore State GST (SGST): ₹40,499 crore Integrated GST (IGST): ₹47,783 crore Cess: ₹11,471 crore Domestic transactions contributed ₹1.32 lakh crore, an 8.4% increase. Imports accounted for ₹44,268 crore, up by 4%. In November 2024, GST revenues were higher at ₹1.82 lakh crore, showing an 8.5% annual growth. The peak monthly collection was in April 2024, reaching ₹2.10 lakh crore. For the fiscal year
Foreign inflows into Indian government bonds may decline in 2025 after a record high in 2024. The spike in 2024 was due to the debt being added to JPMorgan's emerging market debt index. Wei Li, head of multi-asset investments at BNP Paribas SA, said, “Foreign inflows in 2025 will remain strong but may not match 2024 levels.” In 2024, overseas investors bought 1.24 trillion rupees ($14.5 billion) worth of Indian bonds under the fully accessible route. This route allows unrestricted foreign investment, and most bonds under it are now part of JPMorgan's index. Li highlighted that in
The Finance Ministry expects the economy to grow by 6.5% in real terms in FY25. In its November economic report, the ministry highlighted a bright growth outlook for October to December. Rural demand remains strong, and urban demand is steadily improving in the first two months of the quarter. India’s GDP growth slowed to 5.4% during July-September, marking a seven-quarter low. The ministry attributed this slowdown to softer public capital expenditure and weaker private investments. Global uncertainties, excess capacity, and fears of dumping further impacted private capex. The ministr
Prime Minister Narendra Modi on Wednesday laid the foundation stone of the Ken-Betwa River Linking Project. This interstate project aims to divert surplus water from the Ken River in Madhya Pradesh to the Betwa River, opening new opportunities for prosperity in the Bundelkhand region. The project was first proposed by the National Water Development Authority (NWDA) in 1995 at an initial cost of ₹1,998.74 crore. Now estimated at ₹44,605 crore, the project will provide drinking water to 4.4 million people in 12 districts of Madhya Pradesh and 2.1 million people across 10 districts in Utt
The UAE has become Africa’s largest investor in new business projects, committing $110 billion between 2019 and 2023, according to The Guardian, citing FT Locations. Of this, $72 billion has been allocated to renewable energy, surpassing investments from the UK, France, and China as traditional investors reduce their spending. African leaders have welcomed the UAE’s growing focus on green energy and infrastructure. Ahmed Aboudouh, associate fellow at Chatham House, commented, “African countries urgently need this money for their energy transitions. However, Emirati investors often pa