Green and cheap? Doubts dog Lebanon s first electric car Reuters 1 hr ago
By Timour Azhari
BEIRUT, April 15 (Thomson Reuters Foundation) - Lebanon is launching its first electric car - billed as cheap and green - but sceptics say subsidised power will count for little in a flat economy reliant on fossil fuels.
Designed by Lebanon s EV Electra, the coupe-style Rise is the country s first foray into the electric car market, a fast-growing sector that promises to lower planet-warming emissions.
Costing $30,000, the Rise reaches 180 km an hour and goes on sale in Lebanon and Europe in late 2021, pending certification.
But for all the hype around the sector s rising popularity, from Norway to China, the Rise faces a bumpy journey at home.
UPDATE 1-Green and cheap? Doubts dog Lebanon s first electric car Reuters 1 hr ago
(Adds comments from energy minister)
By Timour Azhari
BEIRUT, April 15 (Thomson Reuters Foundation) - Lebanon is launching its first electric car - billed as cheap and green - but sceptics say subsidised power will count for little in a flat economy reliant on fossil fuels and struggling to attract investment into renewable energy.
Designed by Lebanon s EV Electra, the coupe-style Rise is the country s first foray into the electric car market, a fast-growing sector that promises to lower planet-warming emissions.
Costing $30,000, the Rise reaches 180km (112 miles) an hour and goes on sale in Lebanon and Europe in late 2021, pending certification.
UPDATE 1-Green and cheap? Doubts dog Lebanon s first electric car reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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The European Bank for Reconstruction and Development (EBRD) plans to invest at least €2.1 billion ($2.47bn) in the Middle East and North Africa this year, mostly in the renewables and technology sectors, an executive of the London-based bank said.
The lender already has investments in a number of countries in the region, including Egypt, Morocco, Tunisia, Lebanon, Jordan and the West Bank and Gaza.
“Last year, we’ve done €2.1bn in the Mena region and this would roughly be similar to what we will do this year but we are a demand-driven institution and we have appetite to grow,” Heike Harmgart, managing director for the southern and eastern Mediterranean region at EBRD told
We will offer domestic investors a full range of world class post-trade solutions, with our direct MCDR connectivity at its core, said Kashif Darr, managing director & head of securities services. We will also intermediate international capital flows into this strategic market, as part of our regional direct custody platform.
Egypt is FAB s fourth direct custody market within its Middle East network. The lender provides custody services in the UAE, Saudi Arabia, Oman, Bahrain, Lebanon and Egypt. It also plans to launch services in Qatar and Kuwait.
FAB s deal to acquire the Egyptian operations of Bank Audi will make it one of the largest foreign lenders by assets in the Arab world s most populous country and North Africa s largest economy.