Day: October 6, 2021

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Current Energy and Renewables Signs New Multi-Year Energy Supply Agreement with Mitsubishi Subsidiary

SCOTTSDALE, Ariz., Oct. 6, 2021 /PRNewswire/ — Current Energy and Renewables (CER), a burgeoning retail energy supplier with a track record for success in the Ohio deregulated energy market, announced its new multi-year supply agreement with Boston Energy Trading and Marketing LLC (BETM) on February 8, 2021. BETM is a wholly owned subsidiary of Diamond Generating Corporation (DGC), a wholly owned subsidiary of Mitsubishi Corporation (MC) that manages MC’s power business in the Americas.

Current Energy and Renewables concurrently closed a strategic financing with a very strong investment group committed to our long-lasting growth strategy as well as CER’s continued commitment to Environmental, Sustainable and Governance (ESG).

“Completing our Supply and Services agreement with BETM in the middle of the Covid-19 global pandemic and during these challenging economic and political times was a monumental achievement for CER. The synergy we encountered with BETM and their entrepreneurial culture made this the perfect fit for the team at Current Energy and Renewables. Our company can now continue to grow and build our infrastructure into other deregulated states within the USA. I’m excited for what the future brings for our customers, suppliers, channel partners, and employees as we enter exciting new markets and grow in existing markets,” says David Coburn, Executive Chairman for Current Energy and Renewables.

Current Energy and Renewables’ new relationship with BETM creates long term stability and the ability to enter new markets and wholesale energy procurement relationships. The Company expects the new facility to enhance accelerated strategic growth and support for new acquisition opportunities.

“In answer to the market’s requests, the new BETM facility enables CER to deliver lower energy costs and ensure future profit margins for clients while remaining customer driven. CER is answering this critical market need through enhanced pricing, energy products and terms. CER will actively expand its already strong relationships with the ABC’s in the Ohio market as it aggressively expands into other markets,” added John Varnell, Senior Vice President of Sales and Marketing for Current Energy and Renewables.

About Current Energy and Renewables

Established in 2017 and headquartered in Scottsdale, Arizona, Current Energy and Renewables provides large and small businesses, government agencies and residential customers with competitively priced electricity, sustainability solutions and exceptional customer service. The Current Energy and Renewables team boasts over 40 years of experience in the international energy industry and is focused on streamlining all components of energy supply. For more information, please visit www.currentenergyrenewables.com.

About Boston Energy Trading and Marketing LLC 

Boston Energy Trading and Marketing LLC (BETM), a Mitsubishi Corporation subsidiary, provides asset management and optimization services to owners of generation and energy storage in North America, and wholesale energy to retail power and gas suppliers. BETM traders cover competitive power markets including Northeastern, Midwest and Western markets. Driven by a fundamentals-based approach, its team develops and maintains electric-transmission, gas network and supply/demand models to inform market views for trading opportunities. DGC acquired BETM from NRG Energy in August 2018, and prior to 2014 BETM was known as Edison Mission Marketing & Trading. Mitsubishi Corporation provides investment-grade credit support for BETM’s commercial activities. For more information, please visit www.betm.com.

About Mitsubishi Corporation
Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses together with its offices and subsidiaries in approximately 90 countries and regions worldwide, as well as a global network of around 1,700 group companies. MC has 10 Business Groups that operate across virtually every industry: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution and Urban Development. Through these 10 Business Groups, MC’s current activities have expanded far beyond its traditional trading operations to include project development, production and manufacturing operations, working in collaboration with our trusted partners around the globe. For more information, please visit www.mitsubishicorp.com

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David Coburn, (602) 315-1231, DCoburn@CPG-Energy.com

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Dubai & Beyond Properties Selects Yardi Real Estate Technology

Specialist real estate company will utilise cloud-based solution to manage residential and commercial portfolio

DUBAI, UAE, Oct. 6, 2021 /PRNewswire/ — Dubai & Beyond Properties (D&B), a leading real estate company that specialises in off-plan sales, leasing and property management, has selected Yardi® real estate technology to manage its commercial, residential and holiday homes portfolio.

D&B will utilise Yardi® Voyager for asset and property management as well as financial accounting; Yardi® RentCafe CRM to help turn leads into residential leases, improve retention and optimise marketing performance, Yardi Orion® Business Intelligence, a mobile-enabled platform that provides a holistic view of assets; and Yardi® Fixed Assets to improve logistics and fixed asset management.

“D&B is dedicated to creating a tailored approach to property management with personalised services designed for customers. With Yardi Rentcafe CRM, we can provide tenants the opportunity to benefit from personal account management services with superior efficiency and ease,” said Adham Younis, CEO of D&B Properties. “It’s our vision to be known for integrity, professionalism and reputation, with a team that values relationships over transactions and deals.

“Our partnership with Yardi and its focus on the needs of the region and the capabilities of the platform will undoubtedly aid us further in our mission to offer high levels of service and expertise,” continued Younis.

“We are pleased to welcome D&B Properties as one of our latest clients in Dubai,” said Neal Gemassmer, vice president of international for Yardi. “We’re excited to be working with the group and not only help digitise the business, but play a key supporting role in their drive for high quality services.”

See how Yardi’s technology can help improve your real estate operations through a single connected solution.

About D&B Properties

D&B Properties was established in 2015 and has expanded their service scope to cater to local and international clients for their real estate requirements. The companies tailored solutions span all aspects of real estate dealings in Dubai. They include off-plan and ready sales, secondary market, leasing and rentals, commercial properties, property management, and holiday homes. For more information, please visit dandbdubai.com

About Yardi

Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in Australia, Asia, the Middle East, Europe, and North America. For more information, visit yardi.ae.

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‫AACC 2021 عن نظام اختبار جزيئي مؤتمت بالكامل في Seegene تكشف

  • تكشف Seegene عن أول نظام MDx آلي بالكامل، STARlet-AIOS: نظام الكل في واحد في 2021 AACC الذي عقد في أتلانتا، جورجيا، الولايات المتحدة
  • AIOS هو نظام MDx الذي يدمج معالج السائل وأدوات PCR في الوقت الفعلي من Seegene.
  • سيصل نظام MDx من Seegene بكفاءة إلى مجموعة واسعة من الاختبارات المتلازمية من Seegene.

سيول، كوريا الجنوبية, 6 أكتوبر / تشرين أول 2021 / PRNewswire / – Seegene Inc. (KQ 096530) ،  شركة رائدة في مجال التكنولوجيا الحيوية المتخصصة في التشخيص الجزيئي، تكشف عن نظام اختبار PCR مؤتمت بالكامل (MDx) في الاجتماع العلمي السنوي لعام 2021 AACC & Clinical Lab Expo في الفترة من يوم 26 إلى يوم 30 سبتمبر 2021 في أتلانتا، جورجيا، الولايات المتحدة الأمريكية.

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AACC هو معرض رئيسي لمنتجات وخدمات المختبرات السريرية مع 73 عامًا من التاريخ. ويدعو هذا الحدث العالمي ممثلين من مجتمع طب المختبرات الكبير، بما في ذلك 700 شركة عالمية للتحاليل المخبرية. وشاركت Seegene في هذا المعرض منذ عام 2007 جنبًا إلى جنب مع شركات الاختبار التشخيصي خارج الجسم IVD العالمية الأخرى.

وخلال هذا المعرض، ستكشف Seegene عن AIOS – أول نظام MDx مؤتمت بالكامل. ويوفر AIOS سير عمل PCR في الوقت الفعلي العالي الإنتاجية بدءًا من استخراج الحمض النووي، ثم إجراء اختبار PCR في الوقت الفعلي، وأخيراً تفسير النتائج. AIOS هو نظام MDx متلازمي مؤتمت بالكامل مصمم بمفهوم معياري أثناء تجميع تقنيات إجراء اختبار PCR الرائدة في الوقت الفعلي متعدد الأهداف من Seegene.

والميزة الرائعة لـAIOS هي أن نظام MDx الخاص بها يتكون من وحدات مستقلة وقابلة للفصل بالإضافة إلى بنية برمجية خاصة بها. وعلى عكس نظام أحادي الجسم للشركات الأخرى، تم تصميم AIOS مع مناور استخراج / سائل وأداة PCR مدمجة مع وحدة ذراع روبوتية مطورة داخليًا. ويمكن للمستشفيات والمختبرات شراء المجموعة الكاملة من نظام “AIOS” أو دمج أدواتهم الحالية في الموقع إذا كان لديهم بالفعل معالج سائل من Seegene وأداة اختبار PCR في الوقت الفعلي.

وتشمل بعض الميزات البارزة الأخرى ما يلي: “نظام MDx المتلازمي الآلي عالي الإنتاجية”. كما أنها تتبنى مجموعة متنوعة من فحوصات Seegene، المتوفرة حاليًا في السوق، والتي تسمح بإجراء اختبارات قائمة على الأعراض. وأخيرًا، يمكنه تحديد السبب الدقيق لأعراض معينة باستخدام أنبوب واحد، مما سيمكن من إجراء اختبارات فعالة من حيث التكلفة والوقت. ولذلك، أضافت شركة Seegene أن AIOS ستكون معقولة التكلفة للمستشفيات الصغيرة والمتوسطة الحجم نظرًا لميزاتها المعيارية والجرعات الوحيدة.

قال الدكتور جونغ يون تشون، الرئيس التنفيذي لشركة Seegene: “تمثل AIOS التزام Seegene المستمر منذ عقود بتطوير تقنيات متطورة في التشخيص الجزيئي، وأعتقد أن AIOS ستساهم في الصحة العامة من خلال جعل MDx أكثر سهولة في الحياة اليومية. “

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World Bank raises Turkey’s GDP growth forecast for 2021 to 8.5%

The World Bank on Wednesday revised upward its projection for Turkey’s gross domestic product (GDP) growth for 2021 to 8.5%.

This came in the bank’s latest issue of its Economic Update Report for the Europe and Central Asia (ECA) Region.

The GDP growth figure was 5% in the June issue of the report.

The economy projected to grow 8.5% in 2021 before returning to a path of 3% and 4% in 2022 and 2023, respectively, the World Bank said.?

“These baseline projections assume no further COVID-19 restrictions in Turkey or its major export markets or excessive flareups in macrofinancial conditions,” it underlined.?

Turkey’s economy was one of the few among G20 and OECD countries to enjoy positive growth in 2020.

According to the World Bank, a favorable base effect, an easing of COVID-19 restrictions, and strong external demand led to double digit GDP growth in the first half of 2021, returning the economy and employment to pre-crisis levels.?

Inflation is forecasted to stay high but gradually decline from 17.7% in 2021 to 15% and 13% in 2022 and 2023, respectively, it said.

The bank noted that rising international commodity prices and demand-side pressures added to rising inflation.

“As tourism and exports recover, the current account deficit is expected to narrow to 3% of GDP in 2021,” it noted.

Poverty to reduce

Poverty in Turkey is forecasted to reduce following sharp rises in 2019-2020, the World Bank said.?

“The strong rebound in economic growth, the labor market and household incomes are expected to reduce the poverty rate from 12.2% in 2020 to 11.6% in 2021,” the bank said.?

Further poverty reduction hinges on ensuring an inclusive recovery with adequate support for vulnerable groups, it noted.

Turkey’s economy expanded by 21.7% in the second quarter of 2021 – the second highest among G20 countries.

Source: Anadolu Agency

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European markets lose over 1%, US extends losses

European stocks closed lower Wednesday, losing more than 1% each, while US indices extended losses as the global economy struggles with rising commodity prices and high inflation.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 4.70 points, or 1.03%, to close at 451.33.

London’s FTSE 100 fell 81 points, or 1.15%, to 6,995, while Germany’s DAX 30 index lost 221 points, or 1.46%, to 14,973.

The French CAC 40 decreased 83 points, or 1.26%, to 6,493. Italy’s FTSE MIB dove 350, or 1.35%, to 25,605 points.

Spain’s IBEX 35 was the worst performer of the day, plummeting 1.71%, or 152 points, to 8,775.

The declines came despite retail sales rising 0.3% in the eurozone and the EU in August, from the previous month, according to Eurostat.

US extends losses

Major indices in the US extended losses after a weak opening.

The Dow Jones was down 243 points, or 0.7%, to 34,070 at 12.02 p.m. in New York, while the S&P 500 lost 25 points, or 0.57%, to 4,320.

The Nasdaq shaved 36 points, or 0.25%, to 14,398.

The VIX volatility index jumped 7% to 22.78 as investors worry about high inflation and rising commodity prices increasing pressure on the economic recovery from the coronavirus pandemic.

The International Monetary Fund (IMF) said higher inflation will likely continue in coming months but it would return to pre-pandemic levels by mid-2022.

The IMF stressed that the coronavirus pandemic has caused large price movements in some sectors, especially in food, transportation, clothing and communications. It pointed to price swings in fuel, food and housing, the three largest components of consumption baskets on average.

Oil prices reversed course from three-year highs with a 1.7% loss. Brent crude was trading at $81.13 per barrel and US benchmark West Texas Intermediate was at $77.56.

After climbing above the critical threshold of $50,000 late Monday, Bitcoin rose to $55,000 on Wednesday — its highest level in almost five months, according to official figures

While the dollar index was up 0.34% to 94.30, the yield on 10-year US Treasury notes was down 1.25% to 1.512%.

Precious metals were mixed with gold adding 0.1% to $1,762 per ounce but silver trimming 0.5% to $22.52.

Source: Anadolu Agency

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UPDATE – Turkey’s Borsa Istanbul down 1.43% at Wednesday’s close

Turkey’s benchmark stock index closed at 1,371.69 points on Wednesday, down 1.43% from the previous close.

Starting the day at 1,390.72 points, Borsa Istanbul’s BIST 100 index lost 19.96 points from Tuesday’s close of 1,391.65 points.

The index’s lowest value during the day was 1,371.54 points, while its daily high was 1,392.40 points.

The total market value of the BIST 100 was around 1.07 trillion Turkish liras ($121.8 billion) by market close, with a daily trading volume of over 15.8 billion Turkish liras ($1.77 billion).

A total of 10 stocks on the index rose, 87 fell, and 3 remained unchanged compared to Tuesday’s close.

The highest trading volumes were posted by petrochemical firm Petkim, private lender Garanti BBVA, and iron and steel producer Eregli.

Shares of waste-to-energy firm Biotrend performed the best, rising 5.35%, while stocks of Petkim dropped the most, 8.41%.

One ounce of gold traded for $1,750.00 by market close, down from $1,757.80 at the previous close, according to data from Borsa Istanbul’s Precious Metals and Diamond Markets.

The price of Brent crude oil was down 1.76% to $81.11 per barrel as of 6.41 p.m. local time (1541GMT).

Exchange Rates Tuesday Wednesday

USD/TRY 8.8680 8.8900

EUR/TRY 10.2820 10.2660

GBP/TRY 12.1060 12.1280

Source: Anadolu Agency

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Germany’s kingmakers ready for coalition talks with Social Democrats

Germany’s liberals and Greens have decided to hold three-way exploratory talks with the Social Democrats (SPD) to form a coalition government, party leaders announced on Wednesday.

Christian Lindner, leader of the liberal Free Democratic Party (FDP), said they are ready to begin discussions with the Social Democrats this week to see whether the parties can find common ground to form the country’s next government.

“We have accepted the Greens’ proposal to begin three-way exploratory talks with the SPD,” Lindner told a news conference in Berlin after internal discussions among top party officials.

Lindner said he has told Olaf Scholz, the SPD’s chancellor candidate, that the parties’ first meeting can take place on Thursday.

The FDP leader added that he expects the meeting will happen tomorrow.

The Social Democrats narrowly won the Sept. 26 elections but fell short of a majority in the parliament, while the two smaller parties – the environmentalist Greens and the pro-business FDP – emerged as kingmakers, with major coalition scenarios now depending on their decisions.

Earlier on Wednesday, the Greens’ co-chairwoman Annalena Baerbock announced that her party wants to enter into formal coalition talks with the SPD and the FDP.

“After our internal discussions, we made a decision. It would be reasonable now to have much deeper talks with the SPD and the FDP. We propose this to the FDP to move to three-way coalition talks,” she told a news conference in Berlin.

In the last couple of weeks, the Greens and the FDP held bilateral talks with both the SPD and Chancellor Angela Merkel’s conservative CDU/CSU bloc to discuss various coalition options.

The leaders of the Greens and the FDP underlined on Wednesday that while they are entering into talks with the SPD, a “Jamaica coalition” with the Christian Democrats still remains an option.

Despite his election defeat, CDU/CSU’s chancellor candidate Armin Laschet met with the Green party leaders on Tuesday and said their differences were not insurmountable, proposing talks for a three-way coalition with the Free Democrats.

CDU’s former leader Merkel, who is quitting active politics after 16 years in power, will remain chancellor until a new coalition government is formed.

Source: Anadolu Agency

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Taiwan fears China can start ‘full-scale invasion’ by 2025

China will be able to launch a “full-scale invasion of Taiwan by 2025,” the Taiwanese defense minister said on Wednesday, warning that the Taiwan Strait is witnessing the “toughest situation” in the past four decades.

“It is the toughest situation I have seen in more than 40 years of my military life,” Taiwan’s Defense Minister Chiu Kuo-cheng told lawmakers, according to daily South China Morning Post.

His comments came amid soaring tensions as China has sent warplanes nearly 150 times into Taiwan’s air defense identification zone (ADIZ) in the past few days.

The ADIZ is a buffer zone outside a country’s airspace, where it has the right to ask incoming aircraft to identify themselves.

Chiu, a retired army general, warned that Beijing will “have the ability to mount a full-scale invasion of Taiwan by 2025.”

China claims Taiwan as a “breakaway province,” while Taipei has insisted on its independence since 1949 and has diplomatic relations with at least 15 countries.

“By 2025, Beijing will be able to keep the cost of such conflict at a minimum, meaning it would have the full ability to start a war,” said the minister.

“The Chinese Communists already have the ability to do so now, but they need to think about the cost and consequence of starting a war,” he added.

Biden, Xi discuss Taiwan

US President Joe Biden and his Chinese counterpart Xi Jinping spoke about the rising tensions over Taiwan late on Tuesday.

“I’ve spoken with Xi about Taiwan. We agree … we’ll abide by the Taiwan agreement,” Biden said.

“We made it clear that I don’t think he should be doing anything other than abiding by the agreement.”

The US formally recognized the People’s Republic of China in 1979 and shifted diplomatic relations from Taipei to Beijing, including Taiwan as part of mainland China.

Washington, the main arms supplier for Taipei, however, has called Beijing’s increased air activity over the Taiwan Strait “provocative” and “destabilizing” actions.

China retorted by saying that the “assertions of the US side have been violating the ‘one China’ policy and … sending an extremely wrong and irresponsible signal.”

A group of French senators landed in Taiwan on Wednesday for a five-day visit during which they will meet top leaders of the island nation, including President Tsai Ing-wen.

Source: Anadolu Agency

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Organization of Islamic Cooperation urges collaboration among members, increase capital flow

The Organization of Islamic Cooperation (OIC) encourages members to explore bilateral and multilateral collaborations, promote highlights of their markets and increase intra-OIC capital flow, according to a statement Wednesday.

“As stakeholders of Islamic capital markets we work together to strengthen the connections with each other,” Korkmaz Ergun, Borsa Istanbul CEO and member of the board, said at the 15th Meeting of the OIC Exchanges Forum hosted online Tuesday by Borsa Istanbul.

“We strive to set an example to Ummah (Community) all over the world with our bilateral and multilateral cooperation approach to our business,” he said at the Forum that saw the participation of 100 delegates from 23 OIC countries including 19 exchanges, seven post-trade institutions and 11 international and sector institutions.

Some of the attendees included Selcuk Koc, Director of the COMCEC Secretariat, Nandini Sukumar, CEO of World Federation of Exchanges (WFE), Guzhan Gulay, Executive Vice President of Borsa Istanbul, and Mahmut Aydogmus, Director of Borsa Istanbul International Relations.

As part of the Forum, a Capacity Building training session was held Wednesday by Dr. Mehmet Asutay, Director of Durham Centre for Islamic Economics and Finance at Durham University, on the “Islamic Impact, Social and Green Investing,” according to the statement.

Source: Anadolu Agency