Singapore is set to start using liquefied natural gas (LNG) to generate electricity in the second quarter of this year, a government minister said on Wednesday.
This introduction of LNG for power generation in Singapore is expected to lead to further growth and greater efficiencies for the power sector over the next few years, said S Iswaran, minister in the Prime Minister's Office and second minister for home affairs and second minister for trade and industry.
Iswaran was speaking on Wednesday at a ceremony marking the completion of a project to transform some of Senoko Energy's oil- fired steam plants to gas-fired combined-cycle plants.
Such capacity enhancements are particularly significant as the power sector is a key driver of the Singapore economy, the minister said.
"When the LNG terminal becomes operational in the second quarter of this year, there will be greater availability of gas for power generation in Singapore," he said, adding that more of the generation companies are expected to upgrade their plant turbines.
mercredi 6 février 2013
Philippines to conduct census on agriculture
The Philippine government will conduct a four-month census on agriculture and fisheries (CAF) in 42,000 villages across the country, the National Statistics Office (NSO) said Wednesday.
"The collected data will serve as bases for policy formulation and implementation toward national development," NSO said.
Census enumerators will visit the households starting this month until April this year, and agricultural enterprises from April to May to gather information on agriculture such as tenurial status, land utilization, irrigation facility, crops planted and livestock and poultry raised.
Meanwhile, the enumerators will go to aquafarms to ask about the type, location, and size of aquafarm and the species cultured.
The current CAF is the sixth of a series of decennial census on agriculture and the fifth on fisheries. The previous census of agriculture and fisheries was done in 2002.
mardi 5 février 2013
Turkey's Istanbul suffers foreign investment decline in 2012
Foreign investment in Istanbul suffered a 17.5 percent decline in 2012, according to figures from Istanbul Chamber of Commerce (ITO).
Murat Yalcintas, chairman of ITO, said the total number of foreign investors decreased by 2 percent to 4,539 investors who have established businesses amounting to around 1.5 billion Turkish liras (850 million U.S. dollars) in 2012, decreased by 17. 5 percent from 2011.
Despite the fall in investment, Yalcintas said last year's foreign investment inflow to Istanbul still marks the second highest amount in seven years. Continuing risks in global economies spur foreign investors to invest in Turkey, he added.
Among foreign investors in Istanbul, Iranians posted an impressive growth of 30 percent in the number of investors, as well as an increase of around 8 percent in capital inflow.
Figures show that 1,335 Iranian investors established businesses in Istanbul, approximately 125 million liras (71 million dollars) of investment in 2012.
According to ITO, Istanbul's top two investors in 2012 are from Lebanon and Luxemburg, with 534 million liras (303 million dollars) and 235 billion liras (134 million dollars), respectively; followed by Iran and Germany, with 125 million liras (71 million dollars) and 65 million liras (40 million dollars) respectively.
The sector in Istanbul that attracted the most foreign investment in 2012 was the banking and insurance sector.
Murat Yalcintas, chairman of ITO, said the total number of foreign investors decreased by 2 percent to 4,539 investors who have established businesses amounting to around 1.5 billion Turkish liras (850 million U.S. dollars) in 2012, decreased by 17. 5 percent from 2011.
Despite the fall in investment, Yalcintas said last year's foreign investment inflow to Istanbul still marks the second highest amount in seven years. Continuing risks in global economies spur foreign investors to invest in Turkey, he added.
Among foreign investors in Istanbul, Iranians posted an impressive growth of 30 percent in the number of investors, as well as an increase of around 8 percent in capital inflow.
Figures show that 1,335 Iranian investors established businesses in Istanbul, approximately 125 million liras (71 million dollars) of investment in 2012.
According to ITO, Istanbul's top two investors in 2012 are from Lebanon and Luxemburg, with 534 million liras (303 million dollars) and 235 billion liras (134 million dollars), respectively; followed by Iran and Germany, with 125 million liras (71 million dollars) and 65 million liras (40 million dollars) respectively.
The sector in Istanbul that attracted the most foreign investment in 2012 was the banking and insurance sector.
Indonesia stated-owned bank to open branches in Saudi Arabia
Indonesia's state-owned lender Bank Negara Indonesia (BNI) will open branch offices in west Saudi Arabia's Jidda, Mecca and Medina cites in a bid to facilitate transactions for pilgrims and migrant workers, the state news agency reported Monday.
"We have conducted studies on the opening of branch offices in Saudi Arabia. Hopefully, they will soon be operational," BNI President Director Gatot Suwondo said Monday, quoted by Antara.
BNI, Indonesia's fourth-largest bank by assets, has established partnerships with a number of Saudi Arabia's local banks, including the country's National Commercial Bank and the Arab National Bank.
Gatot said that the opening of the new branch offices was a follow up of a memorandum of understanding signed between the governments of Indonesia and Saudi Arabia on April 11, 2012.
Firman Wibowo, BNI senior vice president, said the opening of the new branches would facilitate financial transactions for Indonesian migrant workers and Hajj pilgrims in Saudi Arabia.
Firman said the flow of money between the two countries reaches 500 million to 600 million U.S. dollars every year, involving the transactions on remittance, hotel accommodation, food, souvenirs and trade deals.
Indonesia, the world's most populous Muslim country, has 1.3 million migrant workers in Saudi Arabia and sends 300,000 annual Hajj pilgrims, 750,000 minor Hajj pilgrims to the holy pilgrimage destination every year.
"We have conducted studies on the opening of branch offices in Saudi Arabia. Hopefully, they will soon be operational," BNI President Director Gatot Suwondo said Monday, quoted by Antara.
BNI, Indonesia's fourth-largest bank by assets, has established partnerships with a number of Saudi Arabia's local banks, including the country's National Commercial Bank and the Arab National Bank.
Gatot said that the opening of the new branch offices was a follow up of a memorandum of understanding signed between the governments of Indonesia and Saudi Arabia on April 11, 2012.
Firman Wibowo, BNI senior vice president, said the opening of the new branches would facilitate financial transactions for Indonesian migrant workers and Hajj pilgrims in Saudi Arabia.
Firman said the flow of money between the two countries reaches 500 million to 600 million U.S. dollars every year, involving the transactions on remittance, hotel accommodation, food, souvenirs and trade deals.
Indonesia, the world's most populous Muslim country, has 1.3 million migrant workers in Saudi Arabia and sends 300,000 annual Hajj pilgrims, 750,000 minor Hajj pilgrims to the holy pilgrimage destination every year.
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