Argentina has dramatically increased its lithium carbonate equivalent (LCE) production capacity, tripling it in the last two years. According to the Chamber of Mining Entrepreneurs (CAEM), this impressive expansion has raised the country's installed capacity to 136,500 tonnes as a result of various new projects. Argentina, the world's fourth-largest lithium producer, currently has four significant projects in production. Among these is the recently inaugurated Centenario Ratones plant in Salta, Argentina's northern province. This project, a joint venture between France's Eramet and Chinese
The renewables sector in Britain is calling on the newly elected Labour administration to substantially raise the funding allocated for renewable auctions to achieve its offshore wind energy and decarbonisation goals. The Labour Party, victorious in the recent election, intends to increase the offshore wind capacity from 15 GW to 55 GW by the year 2030. Tom Glover, the UK Country Chair of RWE, emphasised the necessity of increasing the auction budget to achieve these objectives. At present, developers can compete for government-supported price assurances through Contracts for Difference (C
On Thursday, major Gulf stock markets surged in response to weak US labour market data, which has boosted investor expectations of an interest rate reduction later this year. The number of unemployment claims went up to 238,000 on Wednesday, which is a sign that the US job market is getting weaker. This means that the Federal Reserve may start lowering interest rates in September. Before the data, there was a 65% likelihood of a September rate decrease; now, the markets are pricing in a 47 basis point rate cut this year. The Fed usually sets monetary policy for GCC because the majority of
Kazakhstan is eager to draw $150 billion in investments by 2029 through a variety of strategies, including governmental preferences, anti-corruption efforts, and reduced bureaucracy. These days, everyone is vying for investors. Developed and neighbouring nations are attempting to attract them. Thus, in this cutthroat market, we have to maintain our advantage," Ospankulov stated. With the help of 68 embassies, the Kazakh government is implementing a "package solutions" strategy by providing investment programmes tailored to the needs of the nation. A fibre cement production plant was sugges
The Vietnamese government is in the final stages of finalising plans to create a fund with the goals of luring international investment and ensuring the country's continued competitiveness. On or before Friday, June 29, the draft will be sent to the federal government. A significant portion of Vietnam's export revenue comes from businesses that have received foreign investment; these businesses are vital to the production processes of multinational corporations like Intel, Foxconn, and Samsung. Following last year's approval of a 15% worldwide minimum corporate tax rate by Vietnam's parlia
Saudi Arabia's net foreign direct investment (FDI) inflows rose by 5.6% to 9.5 billion riyals ($2.53 billion) in the first quarter of 2024. Overall inflows rose by 0.6% to 17 billion riyals during this period last year, while outflows dropped by 5.1% to roughly 7.5 billion riyals. In line with Crown Prince Mohammed bin Salman's plan to diversify the economy away from oil dependency, the kingdom hopes to bring in $100 billion in foreign direct investment (FDI) by 2030 to increase its non-oil GDP. The secondary share sale of state oil company Saudi Aramco earlier this month, which raised
According to The Economic Times, Indian expatriates sent a record $107 billion home in the fiscal year 2023–24. The latest surge has surpassed the previous $100 billion milestone for the second consecutive year. Portfolio investments and FDI, which totalled $54 billion during the same period, have almost doubled. According to data on the balance of payments, gross remittances, or private transactions, from the Indian diaspora totalled $119 billion in FY24. Net private transfers were $107 billion after deducting other costs and overseas residents' income repatriation. Studies conducted
Thai Prime Minister Srettha Thavisin proposed a 3.753 trillion baht ($102 billion) budget for the 2025 fiscal year to stimulate the sluggish economy as lawmakers began a three-day debate. Srettha emphasised the importance of the budget in enabling the economy to reach its full potential. The second-largest economy in Southeast Asia is predicted to expand by 2.5% to 3.5% by 2025, with 0.7% to 1.7% expected for inflation. Improving upon last year's 1.9% growth, the administration is targeting a minimum of 3% growth this year. Srettha stressed that deficit budgeting was essential to rev up th
On Wednesday, May 15, 2024, the Indian government announced a reduction in the windfall tax on domestically produced crude oil, lowering it from ₹8,400 to ₹5,700 per tonne, effective from May 16, 2024. An official statement states that the windfall tax, which is a Special Additional Excise Duty, has been kept at zero for the export of diesel, petrol, jet fuel, and aviation turbine fuel. Along with other countries that levy a windfall tax on energy corporations' abnormally high earnings, India was the first to do so on July 1, 2022. At first, gasoline and ATF were subject to export char
India will continue to be the world’s fastest-growing economy, with a projected steady growth rate of 6.7% for the next three fiscal years, according to the World Bank. The World Bank's growth projections for India are 6.7% for FY26 and 6.8% for FY27, with the 6.6% growth forecast for FY25 being maintained. Although there may be a little slowdown, India's growth rate will still be the greatest among the world's biggest economies. The report highlights that the recovery of agriculture and falling inflation will contribute to private consumption growth. Meanwhile, slowing government spe