Latest News
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SPIE Secures Cabling Job at Taiwanese Offshore Wind Farm
SPIE Global Services Energy, through its SPIE Wind Connect, has secured termination and testing job of the inter-array cables for the Taiwan Power Company (TPC) offshore wind farm phase II.SPIE Wind Connect signed the contract with Shinfox Far East Energy (SFE) for the 300 MW TPC phase II, located approximately 20 kilometers offshore from Changhua County in Taiwan.The inter-array cables connect 31 Vestas V174-9.5MW offshore wind turbines to the offshore substation. Execution of works began in August 2025, with completion scheduled in 2026.Building on the success of TPC Phase I, which added 109.2MW of renewable energy capacity in November 2021, TPC Phase II is set to significantly expand Taiwan’s offshore wind portfolio.Once operational, it is expected to generate 1,000 GWh of electricity annually, meeting the power needs of approximately 270,000 households and reducing carbon dioxide emissions by over 403,000 metric tonnes each year.“This project marks another significant milestone in SPIE Wind Connect growing presence in Asia’s offshore wind sector.“As Taiwan establishes itself as a regional leader in offshore wind, with a robust project pipeline through 2035 and world-class wind resources, we are honored to be entrusted by Shinfox Far East Energy to contribute to the country’s energy transition,” said Sam Dowey, Managing Director at SPIE Wind Connect.
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New tax law aims to give Philippines a fairer share of mining profits
On Thursday, Philippine President Ferdinand Marcos Jr. signed into law a measure that overhauls the country's tax system for mining. The aim is to provide a greater share of revenue to the government as well as more transparency in the sector. The new law replaces the fragmented system that differed depending on what type of mining agreement was signed. Marcos stated during the signing ceremony that "we are putting in place a more fair, clearer system that responds to both the needs of our people and environment." The previous system required only mines located within mineral reserves to pay royalties. However, the fiscal obligations were different depending on the type mining agreement. The new law simplifies and increases taxation on all large-scale metal mining operations. It is expected to generate additional revenue of approximately 6.26 billion pesos (110.56 millions) per year. The margin-based royalties will range from 1% up to 5% depending on profitability. When income margins are greater than 30%, there will be a tax rate of between 1% and 10%. This is to capture excess profits in commodity booms. The law introduces a rule of ring-fencing, which means that each mining project is taxed separately. This prevents companies from balancing losses from one project with profits from another. "The days of a mining contractor burying its profits under the weights of losses are over." Marcos stated that we can no longer use the failure of one project to hide the success of another. "Transparency has become the norm." The Philippines has untapped copper, gold and nickel reserves worth an estimated $1 trillion. Government data revealed that mining concessions cover less than 3% (or 22.22 million acres) of the 9 million hectares (9 million acres), which have been identified as areas with high mineral potential. According to the Mines and Geosciences Bureau, in 2023, the exports of mineral products and non-metallic minerals will total $7.32 billion. This is a slight decrease from $7.53 million in 2022. ($1 = 56.6220 Philippine Pesos)
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Asia markets rise as Fed comments and jobs data indicate rate cuts
Asian stocks rose in the early hours of trading on Thursday, as Federal Reserve officials' dovish remarks soothed investor nerves during a period when global growth concerns and bond market sell-offs were at an all-time high. The Nikkei rose by 1.2%, and Australian shares gained 0.8% after their largest one-day drop since April. MSCI's broadest Asia-Pacific share index outside Japan, which includes Japan and Australia, lost early gains before falling 0.2% in the last few days. Losses in China were a major factor. Bloomberg News reported that financial regulators were preparing cooling measures to cool the market. The Shanghai Composite dropped 1.6%, and was headed for a third consecutive day of declines. The financial markets started September with a gloomy mood. A sell-off of longer-dated debts has dampened investor confidence in advance of Friday's crucial non-farm payrolls in the United States. A 30-year auction of Japanese government bonds will be held later today to test the appetite of global debt markets for super-long fixed income. The bond market sold-off overnight, but the concern about the fiscal health in major economies, from Japan to Britain and United States, kept borrowing costs for long-term loans near their multi-year-highs. Investors received a boost in confidence after Federal Reserve officials including Governor Christopher Waller expressed their support for rate reductions in the months to come. Stephen Miran said that he would also work to maintain the independence of the Federal Reserve Board. He was selected by President Donald Trump to fill a vacant seat. U.S. Stock Futures rose 0.1%, as investors reacted positively to the Fed's dovish remarks and bought beaten-down stocks. Tony Sycamore is a market analyst with IG, Sydney. He said: "We had one or two weak days but dip-buyers stepped in." Many people see this September weakness as a good opportunity to buy, with the economy still growing strongly. "This is an excellent backdrop for equity markets." The latest "JOLTS", or Job Openings Report, released on Wednesday showed that job openings were lower than expected. This boosted market bets for a rate reduction at the Fed meeting scheduled later in the month. The Federal Reserve "Beige Book", which was released in September, painted a mixed image of the U.S. economy. This appeared to confirm the concerns of monetary policymakers. Analysts from ING described the report's tone as "bleak," and said that it "was littered with tariff warnings about prices." According to CME Group’s FedWatch tool, traders are pricing in a 96% probability that the Fed will cut interest rates during its September meeting. The yield on the benchmark 10-year Treasury note rose to 4,2226% from its U.S. closing of 4.211% Wednesday. The two-year rate, which increases with traders' expectation of higher Fed Funds rates, reached 3.6187%, compared to a U.S. closing of 3.612%. The dollar was unchanged against the yen, at 148.13. It remained within the trading range that it has been in since August began. The euro currency fell 0.1% to $1.1652, whereas the dollar index (which tracks the greenback's value against other major trading partners) rose 0.1% to 98.217. Brent crude fell 0.5% on the commodities market to $67.29 per barrel. Gold spot prices fell 0.8% to $3529.94 an ounce, after reaching a record high on Wednesday.
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The price of iron ore is rising on the hope that China will demand more.
Iron ore futures prices rose for the third consecutive session on Thursday. This was aided by expectations of improved demand in China, but rising steel inventories fueled concerns about the pace of resumption of steel production, limiting gains. By 0315 GMT, the most-traded iron ore contract for January on China's Dalian Commodity Exchange rose 0.39%, to 781.5 Yuan ($109.26), per metric ton. The benchmark iron ore for October on the Singapore Exchange rose 0.69% to $103.95 per ton, the highest since August 29. Yingguang Wang said that some steelmakers were planning to resume production and increase raw material procurement on Thursday, according to a note written by an analyst from Lange Steel the day before. Steel mills at the top Chinese steelmaking center Tangshan had to reduce production temporarily to improve air quality in preparation for a military display in Beijing to mark the end of World War Two on September 3. This temporarily weakened ore demand. Bright Futures reported that inventories of construction steel continue to increase, which puts pressure on the prices. Steel stocks are likely to rise and the demand for steel may be low. This could prevent mills from quickly restarting production. Analysts at Yongan Futures stated that portside stocks would be expected to keep price increases in check. Coke and coking coal, which are used to make steel, have fallen by 3.09% and 2.46 %, respectively. The benchmarks for steel on the Shanghai Futures Exchange are stagnant. Rebar fell 0.35%; hot-rolled coil slipped 0.06%; stainless steel dipped 0.39%, while wire rod rose 0.43%. ($1 = 7.1529 Chinese Yuan) (Reporting and editing by Amy Lv, Lewis Jackson)
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Gold's record high is lowered due to profit-taking and the focus on US job data
Profit-taking led to gold's decline on Thursday, after the bullion reached an all-time high on expectations of a U.S. rate cut. Investors were also looking forward to this week's U.S. employment data. As of 0153 GMT, spot gold was down 0.3%, at $3,546.73 an ounce. On Wednesday, gold reached a new record of $3.578.50 per ounce. U.S. Gold Futures for December Delivery fell 0.8% to $3.605.60. Gold is still on a bullish market, despite some profit-taking. "Rate-cut expectations and concerns over the Federal Reserve’s independence will add to safe haven demand," GoldSilver Central's MD Brian Lan stated. "We will not be surprised if the gold price goes up to $3.800 or higher in near-term." The U.S. Labor Department announced on Wednesday that the number of job openings in July was lower than expected, at 7.181 millions. Fed officials have said that labor market concerns are still driving them to believe in rate cuts. Fed Governor Christopher Waller believes the Fed should cut rates at its next meeting. According to CME Group’s FedWatch tool, traders are now pricing in 97% of a rate cut of 25 basis points at the end the two-day meeting of the U.S. Central Bank on September 17. This is up from 92% prior to the data. Gold that does not yield is usually a good investment in an environment with low interest rates. Now, the focus is on Friday's non-farm payroll data in the United States. According to a poll, the non-farm payrolls in August are expected to grow by 78,000 jobs compared to 73,000 in July. On Wednesday, Donald Trump stated that if the Supreme Court rules against the U.S. in a case regarding tariffs, the U.S. may have to "unwind' trade agreements it has made with the European Union (EU), Japan and South Korea. Silver fell 0.8%, to $40.87 an ounce. It had reached its highest level since September 2011, in the previous session. Platinum fell 0.5% to $1415.03 while palladium dropped 1% to 1136.26.
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Profit-taking and technical correction bring LIVESTOCK-Cattle Futures to a lower end.
Chicago Mercantile Exchange beef futures fell for a second session in a row on Wednesday, as profit-taking and technical selling corrections from recent highs occurred. Since months, beef futures have been supported by elevated prices. Traders are now assessing whether the high prices will begin to affect beef demand as the outdoor grilling season ends. Analysts said that losses were however limited, as the cash cattle price remained higher than futures. It's a bull market driven by cash. Don Roose said that at this time of the year, October, cattle prices should be equal to cash. CME October Live Cattle Futures finished 1.200 cents below at 238,325 cents a pound. This is a larger discount than the $242 per 100weight that packers were willing to pay for cattle on feedlot markets in the previous week. Cash cattle prices may be stable or even higher than last week, according to the bids of packers at midweek. Beef packer profits remained positive despite tight supplies of cattle and high cattle prices, as beef values hovered at multi-year heights. The U.S. Department of Agriculture reported that the value of the boxed choice beef cutout rose $2.59 per cwt on Wednesday, reversing the previous-day decline. This is the highest price since May 2020. Select cutout increased by $1.56 per cwt to $387.73. According to HedgersEdge, a livestock marketing advisory service, the average beef packer's margin fell to $86.20 a head on Wednesday, from $99.25 per head a day before but was up from $82.55 compared to last week. Live cattle prices also fell, and the October contract ended the day at 361,500 cents per kilogram. CME lean-hog futures fell on Wednesday, after seven consecutive sessions of price gains. Prices had reached their highest level in ten weeks. Analysts said that the market was impacted by the spillover pressure of lower cattle futures, and the expectation for seasonal increases in hog supply into the fourth quarter. CME October lean pork ended at 93.8225 cents per pound, a decrease of 1.725 cents.
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Asia markets stabilize as Fed comments and jobs data point towards cuts
Asian stocks rose in the early hours of trading on Thursday, as Federal Reserve officials' dovish remarks soothed investor nerves during a period when global growth concerns and bond market selloffs were at an all-time high. After a mildly positive session for U.S. stock markets, MSCI's broadest Asia-Pacific share index outside Japan rose 0.5%. The Nikkei opened 1.2% higher, after recovering from its biggest one-day drop since April. Australian shares rose 0.7%. Chinese stocks opened lower, bucking the regional trend. Shanghai Composite dropped 0.4%, and was on course for a third consecutive day of declines following a Bloomberg News report that financial regulators were preparing cooling measures to the market. The financial markets started September with a gloomy mood. A sell-off of longer-dated debts has dampened investor confidence in advance of Friday's crucial non-farm payrolls in the United States. A 30-year auction of Japanese government bonds will be held later today to test the appetite for super-long fixed interest rates on global debt markets. The bond market sold-off overnight, but the concern about the fiscal health in major economies, from Japan to Britain and United States, kept borrowing costs for long-term loans near their multi-year-highs. Investors received a boost in confidence after Federal Reserve officials including Governor Christopher Waller expressed their support for rate reductions in the months to come. Stephen Miran said that he would also work to maintain the independence of the Federal Reserve Board. He was selected by President Donald Trump to fill a vacant seat. U.S. Stock Futures rose 0.1%, as investors reacted positively to the Fed's dovish remarks and bought beaten-down stocks. Tony Sycamore is a market analyst with IG, Sydney. He said: "We had one or two weak days but dip-buyers stepped in." Many people see this September weakness as a good opportunity to buy, with the economy still growing strongly. "This is an excellent backdrop for equity markets." The latest "JOLTS", or Job Openings Report, released on Wednesday showed that job openings were lower than expected. This boosted market bets for a rate reduction at the Fed meeting scheduled later in the month. The Federal Reserve "Beige Book", which was released in September, painted a mixed image of the U.S. economy. This appeared to confirm the concerns of monetary policymakers. Analysts from ING described the report's tone as "bleak," and said that it "was littered with tariff warnings about prices." According to CME Group’s FedWatch tool, traders are pricing in a 96% probability that the Fed will cut interest rates during its September meeting. The yield on the benchmark 10-year Treasury note rose to 4,2129% from its U.S. closing of 4.211% Wednesday. The two-year rate, which increases with traders' expectation of higher Fed Funds rates, reached 3.6166%, compared to a U.S. closing of 3.612%. The dollar fell 0.1% to 147.98 yen, staying within the range of trading it has been in since August began. The euro was unchanged at $1.1657 while the dollar index - which measures the greenback's value against the currencies of major trading partners - was unchanged at 98.153. Brent crude fell 0.5% on the commodities market to $67.29 per barrel. Gold spot prices fell 0.2% to $3552.49 an ounce, after reaching a record high on Wednesday.
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Oil prices continue to fall as OPEC+ considers a new output increase
Oil prices fell on Thursday, extending a drop of more than 2% from the previous trading session. Investors and traders are looking ahead to a meeting at the weekend of OPEC+, where producers will likely consider another increase of output targets. Brent crude dropped 27 cents or 0.40% to $67.33 a bar by 0114 GMT. U.S. West Texas intermediate crude fell 28 cents or 0.44% to $63.69 a bar. Two sources with knowledge of the discussions said that eight members of the Organization of the Petroleum Exporting Countries (OPEC+) will discuss further increases in production at a Sunday meeting. The group is seeking to regain its market share. Phil Flynn is a senior analyst at Price Futures Group. He said that the prospect of OPEC+ increasing output had increased before the meeting. The traders had not expected any change from the group. OPEC+ agreed to increase output targets from April to September by approximately 2.2 million barrels a day, plus a 300,000. bpd quota for the United Arab Emirates. Middle Eastern oil has remained the most expensive region in the world despite production increases. According to a Haitong Securities report, this has boosted the confidence of Saudi Arabian and other OPEC member countries to increase output. The market is now awaiting government data about U.S. crude stocks, which are due on Thursday. This will be a day later than usual due to the U.S. federal holiday on Monday. U.S. crude stockpiles increased by 622,000 barges in the week ending August 29, according to market sources citing API figures released on Wednesday. The API estimate of a U.S. increase in crude stock went against the estimates of analysts polled who, on average estimated that U.S. crude inventory fell by 2,000,000 barrels. (Reporting from Sam Li in Beijing, Trixie Yap and Nicole Jao in New York. Editing by Tom Hogue.)
How to build schools for extreme heat without air conditioning
Heat can threaten children's education
Air conditioning fuels global warming
Passive cooling is the new trend among architects
Emma Batha
Kere, who had studied abroad for many years, returned to his village after completing his studies to build an airy and light school that would allow children to learn comfortably in temperatures as high as 45 degrees Celsius.
The architect from Berlin did not use the air conditioner. He incorporated cooling features in Gando Primary School, which he has applied to other projects throughout Africa.
Kere is one of many architects who are pioneering sustainable designs for schools in a world that's warming.
From Brazil to Vietnam, studies show that heat has a significant impact on learning. The World Bank warned in a report published last year that climate change is a threat to educational attainment and creating an "economic bomb".
Experts recommend that classrooms not exceed 26 C.
Kere's decision to build the Gando school out of clay was initially shocking. However, the material acts as a natural thermometer, absorbing the heat during the day, and releasing it in the evening.
Kere says that while concrete and plate-glass look modern, they can make a building hot. This means air conditioners are needed.
It's a vicious cycle. Air conditioners that use a lot of energy and expel warm air outside contribute to global warming. This in turn fuels the demand for air conditioning.
Instead, Kere uses passive cooling techniques.
The classrooms of Gando have openings on both ends. This allows for cross-ventilation. The overhanging roof is elevated above the perforated lower roofing, which improves air circulation.
Kere, a Kenyan architect, was inspired to design a campus for a university by the termite mounds that regulate temperatures with natural ventilation. The low openings of the buildings allow fresh air to enter while the terracotta towers allow hot air to escape.
SOCIAL CHANGE
In the Thar Desert in north-west India, temperatures this year reached 48 C. The vegetation is sparse and sandstorms occur frequently.
Diana Kellogg, an architect from New York, designed the Rajkumari Ratnavati Girls School. It is a large oval sandstone building rising out of the Rajasthan desert.
The orientation and shape of the building allows the prevailing wind to blow around the school. Lime plaster applied on the walls inside has a cooling effect.
Venturi effect is a phenomenon that accelerates airflow through lattice screens. They are inspired by the traditional Indian jali screen. The school uses solar power to run and collects rainwater.
Kellogg says that temperatures inside can be up to 10 C lower than the outside temperature, which contributes to higher attendance.
She believes, like Kere that good architecture can inspire social change.
Rajasthan has India's lowest female literacy rates, but Kellogg says the massive scale of the school sends a powerful message about girls.
She said, "It's improved their status in the community." The girls are proud to attend and call the College 'The College.' "When I visit the boys, they say, Build one for us.'"
Greening Schools
Even countries with temperate climates are looking for ways to cool down schools, as the climate change will bring more heatwaves.
Britain said that new school buildings must be future-proofed to withstand a temperature increase of 4 C.
The Victorian-era schools, with their large windows and high ceilings, are better equipped to handle heatwaves than the newer schools that have been designed to keep heat inside.
But education does not just happen indoors. Many cities are making their playgrounds greener to help children develop.
Planting trees can reduce temperatures by up to 6 C in urban areas. This is due to the shade and water vapour released.
Paris aims at converting all asphalted schoolsyards into green oasis by 2050.
Cool paint is another solution. Scientists are working on high-tech paints that may outperform air conditioners.
BUILDING WITH CLAY
Engineers are creating sophisticated products and systems to regulate temperature, from geothermal cooling to smart glass.
Sustainable architecture, according to German architect Anna Heringer, means using local materials.
Heringer is known for his use of mud, "a low-tech but high-tech material".
Heringer added that clay balanced humidity, which can cause physical discomfort during extreme heat or cold.
"Architects are often too technical but the solution is right in front of them."
In Tanzania, she was told that villagers built concrete houses for status but slept in mud huts at night.
Heringer explained that, contrary to popular belief, clay walls don't dissolve in rain. Heringer said that there are easy techniques to stop erosion and that a natural crystallization will strengthen the walls with time.
Heringer added that the schools she built in the past 20 years have needed little maintenance.
There is no air conditioning in some classrooms, but solar-powered fans are used in others. She said that not only is it a waste of energy, but switching constantly between heat and cool can be harmful to children's health.
Kere, whose international commissions includes Benin's parliament building and the Las Vegas Museum of Art, said that his studio receives many inquiries about passive cooling and building with clay.
(source: Reuters)