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Record Investment in Space Firms in 2021

The recent report by New York-based firm Space Capital states that private investing in space companies hit a record in 2021. Private investment in space companies reached $14.5 billion last year, up over 50% from that of 2020. Sierra Space, Elon Musk’s SpaceX, and Planet Labs invested a record of $250 million.

Investment in space field is categorized ininfrastructure, distribution and application” the report said. Infrastructure or space companies include those that make satellites and rockets. Space Capital monitors 1,694 firms; they have totally received $252.9 billion through world's equity investments in all three categories since 2012.   

There was a record investment by venture capital companies in three categories, the quarterly report emphasized. 

Last year, venture investment in space-related companies stood at $17.1, representing 3% of overall global venture capital, the report underlined. The public markets are undergoing a change as technology and stocks are struck by rising interest rates. Chad C. Anderson, Founder and Managing Partner of Space Capital, expressed concern over this saying that if selloff in the public markets continues, it might not be easy for venture companies to raise investment like in 2021.

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By Saha on January 18, 2022

ANFAŞ Food Product Fair, January 18-21, 2022

Anfaş Food Product Fair is regarded as the most distinguished exhibition which is held in Antalya, Turkey. Both domestic and international visitors come over to see and learn about the latest developments in food and beverages.

The fair specifically targets guests from hotels, restaurants, and public institutions, who pay a visit to explore foodstuff and drinks offerings.

Specializing in Mediterranean food and beverages including fruits and vegetables, meat and dairy products, baked products and pastries, seafoods and fish products, spices, a wide range of drinks like coffee and tea and many more, the 28th Anfaş Food Product Expo welcomes visitors in 3 days.

Organized by Anfaş Antalya Fair Management, the International Food and Beverage show is active from January 18 to January 21, 2022.

This year, over 450 participants and over 45.000 home and international visitors come together to try a new experience in the world of food and beverages industry.

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By Saha on January 18, 2022

India's Battery Scheme and Reliance, Ola Electric, Mahindra's Bid

India's Reliance Industries (RELI.NS), Softbank Group-backed (9984.T) Ola Electric, and automaker Mahindra & Mahindra (MAHM.NS) have delivered their tenders in accordance with the rules of India’s battery program (worth $2.4 billion).

In 2021, India motivated companies to capitalize in battery manufacturing, with a completion of an incentive plan. The goal is to set a local supply chain for green transportation as well as storing renewable energy.

In this respect, companies including Hyundai Global Motors, engineering conglomerate Larsen & Toubro (LART.NS), and battery makers Amara Raja (AMAR.NS) and Exide (EXID.NS) have, too, submitted their tenders, according to the Ministry of Heavy Industries. The investment plan is projected to expand local manufacturing along with growing direct investment of foreign countries in India, the ministry said.

India’s objective is to develop a huge battery storage capacity (a total of 50 gigawatt hours, Gwh) in five years, expectedly drawing direct investment worth $6 billion.

Companies are obliged to establish a minimum of 5 Gwh of storage capacity and conform to specific domestic content conditions to get qualified for the incentives. The ministry stated that ten companies have submitted tenders (overall nearly 130 Gwh). The country is also attracting great companies in the world, including Tesla Inc (TSLA.O), Samsung (005930.KS), LG Energy, Northvolt and Panasonic (6752.T), to invest in.  

To reduce pollution in main cities and minimize dependence on oil, India plans to clean automotive technology.

By 2030, the country intends to sell e-cars, e-motorcycles and e-scooters representing 30% of private car sales and 40% of such sales, respectively. In that wise, India will increase demand for batteries, now accounting for 35%-40% of overall vehicle costs.

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By Saha on January 17, 2022

15 Top-selling Autos in China in 2021

Affordable Hongguang Mini in 2021 became top-selling company with a rate of 395,451 units, the association data announced. In new energy vehicles group, involving battery-powered and hybrid autos, fairly expensive vehicles, like Tesla and BYD, sold best.

Among top ten were three BYD models and BYD Qin sedan sold 187,227 cars, surpassing Tesla models sales.

Tesla’s Model Y, presented last year in China, was top in new energy SUV category selling 169,853 units in 2021, the association said.

Next was Tesla’s Model 3, which sold 150,890 units in 2021, according to the data.

Li Auto’s hybrid Li One, new energy passenger vehicle, and Xpeng’s P7 sedan were among top 10 and top 15, respectively.

The fully electric Nezha V SUV, new to the auto market, came 15 in the sales grading.

Here goes the list of 15 top-selling new energy passenger vehicles in China in 2021:

1. Hongguan Mini (SAIC-GM-Wuling)

2. Qin (BYD)

3. Model Y (Tesla)

4. Model 3 (Tesla)

5. Han (BYD)

6. Song (BYD)

7. Li One (Li Auto)

8. eQ (Chery)

9. Benben EV (Changan)

10. Aion S (GAC Motor spin-off)

11. Ora Black Cat (Great Wall Motor)

12. P7 (Xpeng)

13. Tang (BYD)

14. Ora Good Cat (Great Wall Motor)

15. Nezha V (Hozon Auto)

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By Saha on January 16, 2022

South Korea's Interst Rate Jumps

South Korea’s interest rate has raised to the level it was before the global pandemic, aiming to curb high inflation and rising household debts.

According to the Bank of Korea's (BOK), the plan to increase the rate to 1.25% was the third time within six months. This is while central banks across the world strive to lower the effects of the pandemic on inflation.

South Korea was the first Asian country to increase the rates in August. With the rise in consumer inflation reaching 2.5% in 2021, the highest price increase since 2011, the country’s policy makers are pressed to take actions.

To curb the negative consequences due to the Covid-19, global central banks and governments have added trillions of dollars to the world’s economy in the last two years. International policy makers are currently trying to remove emergent stimulus packages.

South Korea, in the front line to switch to unwind the huge economic stimulus, tries to control high consumer prices. In the same front, the United States of America also aims to grow its interest rate three times in 2022. Prices in the U.S. have seen the fastest pace for nearly 40 years; inflation has increased up 7% year-over-year last month.

To address rising prices, the Bank of England, too, increased interest rates in December for the first time within over three years.

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By Saha on January 16, 2022

Triton Knoll Poised for Operation

On Thursday, RWE said in a statement that Triton Knoll will provide some 800,000 homes with enough electrical power to serve per year. The project’s investment roughly reaches £2 billion. RWE’s share in the wind farm is 59%. Other stockholders include Kansai Electric Power (16%) and J-Power (25%).

RWE Power AG announced that the process of turbine commissioning in Triton Knoll Offshore Wind Farm is ready for operations. To be fully operational in the first quarter of 2022, the 857-megawatt farm stands at the England’s east coast.

Last March, Triton Knoll generated its initial power; its conclusive turbine was also laid in September. Situated in the North Sea, Triton Knoll bears large-scale facilities involving 1.2 gigawatt Hornsea One, with 174 turbines in waters off Yorkshire. Among the North Sea’s future projects are the Dogger Bank Wind Farm, with an overall capacity of 3.6 GW, planned to develop in 3 phases.

The European Union aims at 300 GW of offshore wind by the mid-century. The U.S. is still lagging behind the Europe. The initial offshore wind installations in America, a 30-megawatt Wind Farm, launched its commercial operations in 2016.

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By Saha on January 15, 2022

Metro Brands' Union with FitFlop

Metro Brands, footwear retail company, on Friday signed an agreement with FitFlop company on sales in India.

FitFlop, which is now distributed in more than 60 countries across the world, is famed for producing comfy sandals, slippers, boots, and shoes in premier designs, using biomechanical technology. Marcia Kilgore, the Canadian-born entrepreneur, opened up cozy, stylish footwear of FitFlop in 2007.

Over the last four years, Metro Brands has been offering FitFlop products in Indian markets. The recent contract ensures the rights of selling FitFlop in brand stores, airport stores, and online marketing websites of India, Metro Brands stated.

Through this collaboration, Metro Brands is hopeful to serve the Indians who respect comfort and stylishness.

Nissan Joseph, Metro Brands’ CEO, said that our broad network along with the unique expertise of FitFlop in biomechanics will help us find our way to the Indian houses to peerless comfort and style.

Likewise, Gianni Georgiades, FitFlop’s CEO, also gave his opinion saying that it’s delightful to cooperate with one of the biggest footwear brands in India.

He also added we will benefit from Metro Brands’ wide, strong network and market share. With the support and reliability of Metro Brands, this partnership is expected to bring us a good niche in India, he stated.

With stores in 136 cities and 30 states in India, Metro Brands aims to take advantage of its broad network and strong distribution in order to propel FitFlop’s growth in India.

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By Saha on January 15, 2022

Norway's Aid for Global Food Safety

The Norwegian Agency for Development Cooperation, Norad, is undertaking NOK 25 million to the Standards and Trade Development Facility, STDF, for two years. Agency's purpose is to support developing and least-developed countries, LDCs, to follow global food safety and animals and plants health criteria.  

Ngozi Okonjo-Iweala, WTO Director-General, embraced Norway's act of generosity. She said that this commitment will help these countries to take Sanitary and phytosanitary (SPS) measures such as applying science in supporting the health of plants, animals and human. It develops the safety and solidity of food supply among developing countries, allowing many farmers to offer their commodities in new markets to better their sustenance, she added.

Bård Vegar Solhjell, Norad’s Director-General, equally declared that food safety and implementing food system are of the greatest importance to Norwegians. He said we are honored to protect STDF and guarantee that LDCs will be capable to get involved in safe food business. We must keep on developing global safe trade, he added. He also said Norad aims to make sure that it expends its development aid finance in the best manner.  

In several agreements, Norway has granted CHF 5.2 million to STDF since 2007, apart from this new contribution. Across the last 20 years, it has contribute CHF 41 million to WTO trust funds. 

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By Saha on January 14, 2022

UN's Forecast on Low Economic Growth in 2022, 2023

On Thursday, the United Nations stated its prediction report on the decreasing state of global economic development for the consecutive years 2022 and 2023 as the entire world deals with issues like coronavirus spread, continual workforce market, rooted supply chain, as well as high inflation challenges. According to the U.N, the global economy forecasts growth of 4% and 3.5% in 2022 and 2023, respectively. The highest rate of growth in global economy was seen in 2021 after over four decades, 5.5%.

Liu Zhenmin, the Under-Secretary-General for the United Nations Department of Economic and Social Affairs, in a news conference said that two years after the pandemic, the economic vision in the world is dim at the beginning of 2022, he added. Creating employment has not overcome the losses and lack of employment is impacting youth and women. The shadowy economic prospect comes as a result of covid-19 expansion, supply issue, and high inflation rates in many parts of the globe, he emphasized.

2021 saw a recovery in economy, mainly attributed to consumer purchases, increase in investments exceeding the amount before the pandemic, the U.N. World Economic Situation and Prospects 2022 report suggested. However, growth rate in large economies, involving China, EU, and the U.S, dramatically speeded down at the end of 2021. The report also added that lack of workforce among developed countries is escalating supply chain issue and inflation, thereby weakening the economic growth in the majority of developing countries. 


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By Saha on January 14, 2022

China's Auto Sales Growth in 2022

Automobile’s sales in China saw a growth for the first time in 2021 since 2017, partly due to a rise in new energy vehicles (NEVs), specified industry data on January 12, 2022.

After once-a-month sales of 2.79 million vehicles last month, which set 2021’s overall sales at 26.28 million, total auto sales in the world’s largest car industry grew 3.8% year by year.

China Association of Automobile Manufacturers, CAAM, declared in its recent statement that 2022 is estimated to be a better year regarding auto production and sales. Potentially, this year obstacles including chip undersupply as well as expensive raw materials will be less severe, the statement added. The country’s auto business started shrinking in 2018 on account of a business conflict between the U.S. and China. 

China car industry tried to rebound by mid-2020; however, it was brought down due to semiconductors insufficiency across the world, leading to a global halt in production.

In the meantime, NEVs sales gained a momentum, a rise of 157.5% last year.

Last December saw a growth in NEVs sales, 114% year-on-year. CAAM’s expectation of a jump of 5.4% in auto sales and 47% rise in NEV sales reveals the country’s attempt to promote the car market and cut back air pollution. China will also bring down subsidies on NEVs by 30% this year, in this regard.

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By Saha on January 12, 2022