Category: News Desk

Asia Poised To Overtake Europe As Global Solar Power Leader By 2016


Asia is set to produce more solar power than any other region in the world over the next five years, said the European Photovoltaic Industry Association (EPIA) on Monday, with the fastest PV (photovoltaic) growth expected to come from China and India.

“Europe has dominated the global PV (photovoltaic) market for years but the rest of the world clearly has the biggest potential for growth,” wrote the EPIA report, as cited by Reuters.

Spain Prepares Bail-Out For Bank


The Spanish government will use billions of euros in public money to bailout the country’s fourth largest bank Bankia if it deems it necessary, said Prime Minister Mariano Rajoy on Monday, who had previously insisted that no additional state money would be used to clean up the country’s banking sector.

Speaking in a radio interview with Onda Cero radio, Rajoy confirmed the Spanish government was preparing an intervention for Bankia, though he would not say exactly how much funds would be needed.

Top 5 Figures Influencing Renewable Energy in the US


As Oilprice.com embarks on its Top 5 series, we thought it expedient to begin with our take on the key figures shaping and influencing U.S. renewable energy efforts, not least because the issue of energy security is being prioritized in campaigning ahead of U.S. presidential elections.

Norway Dumps Eurozone Debt For Emerging Markets


Norway’s sovereign wealth fund has sold off its entire holdings in Irish and Portuguese government bonds, and reduced their share of Spanish and Italian bonds, in order to cut its exposure to the European debt crisis and make more investments in emerging markets.

Nuclear-Free Japan Ponders Gas Pipeline From Russia


Japan’s government has discussed the possibility of building an underwater gas pipeline from Russia, said former Japanese foreign minister Seiji Maehara, with the country preparing for a nuclear-free future following the shutdown of its last working nuclear power plant late Saturday.

Infographic: The Cost Of Getting The Flu


A staggering $87.1 billion is taken out of the US economy every year as a result of the flu season, as people who fall ill are unable to attend work and are forced to receive medical treatment for their ailment.

In addition, up to 15 percent of the world’s population is infected with the flu each year, with the illness affecting the finances of individuals, businesses and the general economy.

Germany Urged To Flex Military Muscle


U.K.’s Defence Secretary Philip Hammond has called on Germany to play a more active role in global military affairs, said Reuters on Tuesday, as Germany’s “historic reluctance” to engage in global military action was now hampering their international importance.

Thousands Of UK Civil Servants Implicated In Tax Evasion Probe


More than 2,000 senior public officials in the United Kingdom may have benefitted from a controversial pay deal scheme, which allowed them to lower their personal tax bills, said a report by the Financial Times on Wednesday.

Tokyo Residents Donate $1 Million To Buy Disputed Islands


Tokyo’s city government has raised nearly $1 million from its citizens in order to buy a small chain of islands in the East China Sea, which have been at the centre of a territorial dispute between the Japanese and Chinese government.

The Senkaku Islands – also known as Diaoyutai in China – is a group of uninhabited islands located about 140km away from the east of Pengjia Islet in China, and about 170km north of Ishigaki Island, Japan. Since 1971, ownership of the islands have been a hotly contested dispute between Japan, China and Taiwan.

Pig Poo Poised To Power China


Pig faeces could be China’s next big energy source, claimed a report by Reuters on Wednesday, following the invention of a bioreactor called “PooCareTM”, which is able to convert solid waste into biofuel.