5/11/2021 By Yuka Obayashi TOKYO, May 11 (Reuters) - Japan’s giant trading houses reported mixed annual results, with Marubeni Corp swinging to a better than expected profit and Sumitomo Corp posting a record net loss amid the COVID-19 pandemic and strong bulk commodity prices. Sweeping global lockdowns killed off global air travel in the year ended March 31, suspended mining and energy projects, and cut consumer spending on clothes and restaurants, hurting revenues for the trading companies whose portfolios span the gamut of raw material markets among others. Some firms, however, benefited from a rally in iron ore and copper, which both scaled record highs this year amid tight supplies and a robust demand outlook. Soaring grain prices, mainly corn, also lent support.
May 7, 2021
Power generation accounts for roughly a third of global greenhouse gas emissions. So when Japan’s biggest power producer, Jera Co., announced last October that it aims to achieve carbon neutrality by 2050 but not by relying exclusively on renewable power it took even some energy experts by surprise, with many wondering if that is actually possible.
But the company, which emitted 139 million tons of carbon dioxide in fiscal 2019 and is responsible for nearly 10% of Japan’s emissions, is determined to lead the world in making a bold transition away from fossil fuels to net zero emissions as it bets its survival on ammonia and hydrogen, which unlike fuels such as oil and gas do not produce carbon dioxide when burnt.
Dubai Siemens Energy and UAE-based clean energy firm Masdar expect a hydrogen demonstrator plant to be built by 2022 in the country s capital and to focus on showcasing sustainable aviation fuel as part of efforts to create a green hydrogen industry in OPEC s third-biggest producer.
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now
Masdar and Siemens signed a memorandum of understanding in January to develop the demonstrator plant in partnership with Abu Dhabi-based Etihad Airways, Lufthansa, Marubeni Corp., Abu Dhabi Department of Energy and Khalifa University.
The MOU included the construction of a photovoltaic power electrolyzer facility that will showcase the production of SAF, green hydrogen for passenger cars and buses in Abu Dhabi, and clean fuels for the maritime sector.
streetAsia s premium subscription service Unlock your competitive advantage in a rapidly evolving landscape. Our packages come with exclusive access to archive content, data, discount on summit tickets & more. Be a part of our growing community now. SUBSCRIBE NOW
Singapore Reporter/s
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digi
Japan to recognize 4,136 people in spring honors Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
Donald Tusk | POOL / VIA REUTERS
JIJI Apr 29, 2021
The government said Thursday that it will recognize seven foreign nationals with the Grand Cordon of the Order of the Rising Sun, including former European Council President Donald Tusk, 64, former Australian Prime Minister Julia Gillard, 59, in this year’s spring honors.
The same honor will be granted to Yoshitake Yokokura, 76, former president of the Japan Medical Association, and Nobuo Katsumata, 78, former president of major trader Marubeni Corp.