Home :: 2016 :: August

Monthly Archives: August 2016

Canada to apply to join China-backed infrastructure bank

BEIJING: Canada will apply to join the China-backed Asian Infrastructure Investment Bank (AIIB), Ottawa’s finance department said on Wednesday (Aug 31), in a coup for Beijing after Washington had tried to dissuade US allies from signing up. “Canada is always looking for ways to create hope and opportunity for our middle class as well as for people around the world,” ...

Read More »

Taiwan plans $2.2bn jet trainer programme

  Taiwan aims to spend T$68.6 billion ($2.16 billion) over 12 years from 2017 to develop its own jet trainers, according to budget data seen on Wednesday, signalling the government’s resolve to build up the defence industry. China has never renounced the use of force to take back the self-ruled island, which it sees as a renegade province, and maintains ...

Read More »

UA flight makes emergency landing in Ireland

Fourteen passengers and two crew members were injured and taken to hospital on Wednesday after a United Airlines flight was forced to divert to Ireland’s Shannon Airport due to a medical situation, the airport said. Ambulances were at the scene when the flight that was en route from Houston to London Heathrow landed at 0455 GMT and the injured people ...

Read More »

SWIFT discloses more cyber thefts

SWIFT, the global financial messaging system, has disclosed new hacking attacks on its member banks as it pressured them to comply with security procedures instituted after February’s high-profile $81 million heist at Bangladesh Bank. In a private letter to clients, SWIFT said that new cyber-theft attempts – some of them successful – have surfaced since June, when it last updated ...

Read More »

Siemens names new Qatar CEO

Global technology powerhouse Siemens has appointed Adrian Wood (50) as the new chief executive officer (CEO) of the company’s operations in Qatar. Wood assumes his new role from tomorrow (September 1) after almost four years as CEO of Siemens in Kuwait. He takes over from Fatih Sakiz, who will pursue new opportunities, said a statement from the company. Wood’s career ...

Read More »

Saudi doesn’t target specific oil output level: Al-Falih

  Saudi Arabian Energy Minister Khalid Al-Falih said the top crude exporter does not target a specific figure for its oil production and that its output is based on customers’ needs. “We in the kingdom of Saudi Arabia do not have a targeted number to reach. The kingdom’s production meets the requirements of the customers, whether they are outside or ...

Read More »

Steam turbines market to reach over $19bn by 2020

  The steam turbines market is projected to grow from an estimated $14.8 billion in 2014 to $19.2 billion by 2020, at a compound annual growth rate (CAGR) of 4.4 per cent, according to a recent report. The report, titled “Steam Turbines Market by Type (steam cycle, combined cycle and cogeneration), by Rated Capacity (1-120 MW, 121-350 MW, 351-750 MW ...

Read More »

U.S. Funds Wave Energy Development

  The U.S. Energy Department has announced 10 organizations selected to receive more than $20 million in funding for new research, development, and demonstration projects that advance and monitor marine and hydrokinetic energy systems which generate electricity from ocean waves and tidal currents. These projects will aim to improve the performance of the systems and advance environmental monitoring technologies that ...

Read More »

Singapore Authorities Form Maritime Safety Group

  The Maritime and Port Authority of Singapore (MPA) has kicked off a new international safety initiative meant to reduce marine casualties in Singapore’s waters, which are among the busiest in the world. The announcement of the authority’s “community of practice” industry initiative coincides with the nation’s Safety@Sea Week 2016, which runs until September 2. This year, MPA has organized a two-day ...

Read More »

Acclaim for Åsgard

  The Norwegian Petroleum Directorate (NPD) has awarded its improved oil recovery prize for 2016 to the licensees of the Åsgard field in the Norwegian Sea for their subsea wet gas compressor.This will yield almost 50 million cubic meters (306 million barrels of oil equivalent) in additional gas and condensate.According to the citation, the solution on Åsgard is the result ...

Read More »