TOKYO: The world’s first shipment of blue ammonia was dispatched from Saudi Arabia to Japan on Sep. 27, 2020 for use in a power station for the production of zero-carbon power generation, paving the way for the further use of hydrogen in the energy system.
The Saudi-Japanese collaboration is part of a pilot project, conducted by the Institute of Energy Economics, Japan (IEEJ) and oil company Saudi Aramco in partnership with Saudi Basic Industries Corp. (SABIC).
The collaboration is important for both countries as Japan aims to be a world leader in the use of hydrogen, while Saudi Arabia, the world’s largest oil producer, wants to diversify its energy mix with plans to emerge as a global force in clean power.
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February 22 2021, 1:15 AM
(Bloomberg)
(Bloomberg)
Middle East equities rose as optimism surrounding the acceleration in global coronavirus vaccinations outweighed a rise in U.S. yields that may signal the return of inflation.
Israelâs TA-35 climbed as much as 1.2%, while benchmark stock indexes in Saudi Arabia, Bahrain, Abu Dhabi and Egypt also made gains.
âWe see higher inflation expectation as positive for the cyclical parts of emerging markets, such as the MENA region, especially when these expectations are driven by a rebound in the global economic growth which should propel earnings growth,â said Divye Arora, money manager at Daman Investments Psc in Dubai. âHowever, we are also watchful of the pace of increase of 10-year US treasury yields.â
Mideast Stocks Mixed as Investors Weigh Reflation: Inside EM yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Saudi Arabia's stock market is set for another bumper year of stock market listings with several sizeable initial public offerings (IPO) in the pipeline as investors look to allocate a pile of cash built up through the coronavirus pandemic.
Saudi Arabian shares surged on Monday as crude prices rose to their highest in just over a year, while the markets in the United Arab Emirates finished lower after a spike in coronavirus cases in recent weeks soured sentiment.