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Italy's World Conference on Photovoltaic Energy Conversion, 2022

By Samira Ha. on September 27, 2022

The ongoing World Conference on Photovoltaic Energy Conversion (WCPEC-8), which started on September 26, will last until September 30. The 8th world conference is held in Italy’s Milano Convention Centre.

In this conference, programs like Plenary, Oral and Visual Sessions are held; the WCPEC-8 Scientific Committee has carefully assessed and chosen each presentation with the assistance from the European Commission Joint Research Centre. 

Parallel events and industry summit of the conference include presentations, panel discussions, workshops, along with breakout sessions.

The parallel events deal with new trends in the PV marketplace and offer the latest PV technology and various PV use. All registered participants in the conference can attend the events. 

Apart from parallel events, the conference, which is held after 2 years, presents scientific meetings in an international level. Hygiene and safety have been considered. Safety regulations are in place to guarantee the participants’ health.  

The influential conference provides one-of-a-kind opportunities to meet professionals in PV industry; participants are able to exchange info with PV experts from across the globe. There are opportunities to progress in energy transition and expand the solar energy throughout the world in the modern era of PV growth. Strengthening sharing and networking opportunities to the ones involved in photovoltaic industry, the conference helps expansion of PV or solar power systems.

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Asia's Emerging Economies To Exceed China, ADB

By Samira Ha. on September 24, 2022

Developing economies in Asia will see recovery; which is the first time within over 3 decades that developing Asia will transcend China, said Manila-based lender in a recent report on Wednesday. China’s economic growth fell to 3.9% and the rest of the countries in the region saw a GDP growth by 6.9%, according to the report. 

However, the Asian Development Bank (ADB) stated a low growth prediction for them again as China has developed its zero-Covid approach. 

Emerging Asia is expected to expand by 5.3% this year while China will expectedly grow by 3.3%, the ADB stated. ADB’s growth forecast was 4% for China in the month of July, which relates to the country’s zero-Covid approach, property sector issues, and slow economic activities due to decreased demand from abroad.

The forecast for the country’s growth in 2023 is to 4.5% compared to April’s 4.8% outlook due to increasingly weak external demand, which in turn lowers investment in manufacturing sector. While Asia is facing constant recovery thanks to invigorated tourism industry, headwinds in the world are hindering global development, said the ADB.

Emerging Asian economies, the ADB predicts, will increase by 4.3% in 2022 and 4.9% next year. Also, recent updates of Asian Development Outlook expects that the inflation pace will see an even higher rate to 4.5% this year and 4% in the year 2023, compared to July’s revised prediction of 4.2% and 3.5% respectively, due to heavy food and energy expenses.

While inflation has currently jumped to a level before the pandemic, central banks in the region are increasing their policy rates, the ADB said. This plays a role in stricter financial situations as the Federal Reserve is facing a gloomy growth prospect and tight monetary policy, it also added.

China will constantly be an exception as it exerts strict lockdowns occasionally to curb intermittent outbreaks, according to the ADB. This is not the case in many parts of Asia, where Covid-19 restrictions ease, immunization policy grows, the pandemic death toll decreases, and there’s increased mobility, the report also expressed.

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Transit Fees Climb in Suez Canal

By Samira Ha. on September 22, 2022

A statement by the Suez Canal Authority (SCA) announced that transit fees for all kinds of vessels will increase in 2023. A jump by 15% will come into force as of January 1st, 2023. The Canal’s Authority Chairman and Managing Director, Osama Rabiee, in his statement declared that the rise happens in line with inflation rates throughout the world. He further said that the jump in Suez Canal fee rates is affected by several reasons, one is the average shipping rates on all vessels. Last year, for instance, the transportation fees of ships increased due to Covid-19.

The SCA gained almost $7 billion, all-time record, in the last fiscal year and it is expected that its annual income will rise by $700 million in 2023, said Rabiee.

The increase will not considerably affect flow of imports and exports but it will intensify current global inflation, said an analyst.

Although the fares will increase, the Suez Canal will, to a great extent, remain a cheaper course for all vessels, according to another analyst.

With present drop in oil prices, if the canal charges too high prices, SCA will be a loser, said Tim Huxley, chairman of Hong Kong's Mandarin Shipping.

Oil prices in the world have seen fluctuations this year: the prices climbed to $130 per barrel subsequent to the Russian invasion and reached to about $80-$90 per barrel over the last weeks. The jump in fares will affect customers, escalating inflation in turn, Huxley also said.

Since the beginning of 2022, the SCA has already increased its fees twice due to the growth in global trade: one in February and another in March.  

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Iran Joins Shanghai Cooperation Organization

By Samira Ha. on September 19, 2022

Iran has signed a memorandum of obligations to be a permenant part of Shanghai Cooperation Organization (SCO) which was held in Uzbekistan in September 15-16, 2022.

At the 22nd summit of Shanghai Cooperation Organization, which was held in Samarkand, the full membership of Iran in the Shanghai Organization was officially announced by Shavkat Mirziyoyev, the president of Uzbekistan.

The SCO, which is growing fast, confirmed Iran’s request to join only last year. 

Prior to the departure of Iran’s president Ebrahim Raisi to Uzbakistan, the bill for Iran's membership in this regional economic institution was submitted to Iran’s Islamic Council to carry out its legal procedures.

According to the Iranian foreign minister, Hossein Amirabdollahian, Iran has taken a significant step towards developing its economic, trade, energy and transport cooperation with SCO member countries.

Iran's president met and negotiated on develiping regional relations with the heads of countries of Russia, Pakistan, Tajikistan, Kyrgyzstan as well as with Zhang Ming, the Secretary General of SCO. 

In this regard, President Putin said relations between Russia and Iran, the two countries sanctioned by the U.S., are growing in a positive way and entirely supported Iran’s attachment to SCO. According to Al Jazeera’s Resul Serdar, expectedly Iran’s full membership will come into effect from April 2023.

In September’s SCO summit, heads of states from China, Russia, India, Iran, Uzbekistan, Kazakhstan, Belarus, Turkey, Azerbaijan, Kyrgyzstan, Pakistan, Mongolia, Tajikistan and Turkmenistan met and discussed ways to expand economic and regional relations.

The SCO summit is held every year, focusing on multilateral cooperation and major areas of development as well as strengthening economic cooperation between the member countries.

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