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News from Emerging Markets
Billionaire Viktor Vekselberg is out to prove that solar has a place in Russia, the world's largest exporter of oil and gas. Hevel Solar, a venture between Vekselberg's Renova and OAO Rusnano, plans RUB 22.5 billion ($450 million) of solar farms through 2018 and says diversifying power generation will benefit the country.
Senegal power utility Senelec signed a preliminary agreement with Qatar's Nebras Power and Japanese trading company Mitsui & Co Ltd to build a floating liquefied natural gas (LNG) regasification terminal and a 400-megawatt power station.
Turkey's foreign trade deficit decreased sharply in April, the Turkish Statistical Institute said in a report released on Friday. In April, the deficit decreased to $4.96 billion, down 31.9 percent from $7.3 billion for the same month last year, the report said. The decline followed an increase of 17.2 percent in March.
India's solar power generation capacity is expected to double to 6 GW by the end of 2015, according to solar power consultancy firm Bridge to India. "So far, in the first three months 700MW of capacity has been added and work is on in another 1GW.
Bangladesh - PM Narendra Modi's Dhaka visit to give boost to road connectivity among South Asian nations
A landmark initiative for road connectivity between India, Bangladesh, Bhutan and Nepal is expected to be launched during Prime Minister Narendra Modi's maiden visit to Dhaka on June 6-7. The initiative is being seen as a move to offset Pakistan's efforts to scuttle integration among South Asian nations.
Resale prices of private homes fell last month, according to Singapore Residential Price Index (SRPI) estimates. The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 0.1 per cent in Apr from the previous month, when prices increased 0.3 per cent from a month earlier.