Solar power booms in Philippines as war on Iran spikes energy costs
With Southeast Asia's largest electricity bills rising even higher, Filipinos invest in rooftop panels.
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With Southeast Asia's largest electricity bills rising even higher, Filipinos invest in rooftop panels.
Indian factories, smelters and households are being hit by blackouts and rising energy costs as the impact of plunging coal stockpiles at the country’s power stations ripples through the economy. The weakest monsoon since 2015 has curbed hydropower output, while hotter-than-normal weather has buoyed demand for air conditioning and farm irrigation. That has seen coal-fired power stations, which supply about two-thirds of India’s electricity, rapidly burn through their inventories. Smaller...
Indonesia is tightening government spending toward year-end, ordering ministries and agencies to cut unspent travel allocations by 30% as higher oil prices and costly flagship programs put pressure on the budget.
Ireland’s government has an enviable budget surplus, and voters want those funds used to help them with soaring energy costs and a cost-of-living squeeze.
Copper headed for the biggest weekly loss since May as high energy costs and a stronger dollar threatened to curb demand.
Gold held a modest gain as US bond yields softened and Federal Reserve officials signaled they needed more time to weigh their next move on interest rates, even as a possible escalation in the Middle East kept energy costs elevated.
Gold was steady as traders monitored progress in talks between the US and Iran for clues on how energy costs will influence the Federal Reserve’s path for interest rates.