Wall Street ends week lower as tech shares retreat
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices....
China has started building the world’s largest hydropower project in Tibet’s Yarlung Zangbo River gorge, aiming to boost clean energy output and meet its climate goals.
China on Saturday began construction of what is set to become the largest hydropower station on the planet, located in the rugged Yarlung Zangbo River gorge in the Xizang (Tibet) Autonomous Region. Premier Li Qiang officially inaugurated the project at a groundbreaking ceremony in the city of Nyingchi, underlining the national significance of the development.
Li described the hydropower station as a "project of the century" and urged the use of cutting-edge technologies, advanced materials, and innovative engineering methods to ensure the project’s high-quality execution.
The facility, once completed, is expected to generate 300 billion kilowatt-hours (kWh) of electricity annually—more than triple the output of China’s current largest dam, the Three Gorges, which produces around 88.2 billion kWh. The massive project will comprise five cascade hydropower stations and is backed by an estimated investment of 1.2 trillion yuan, or approximately $167.8 billion.
Officials, engineers, and residents from the region were present at the ceremony, highlighting the project’s strategic importance. According to government sources, the hydropower complex will serve as a major asset in China’s long-term energy planning and is expected to support the country's ambitions to peak carbon emissions before 2030 and reach carbon neutrality by 2060.
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Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
The resignation of Bulgaria's government on Thursday (11 December) puts an end to an increasingly unpopular coalition but is likely to usher in a period of prolonged political instability on the eve of the Black Sea nation's entry into the euro zone.
Thailand’s caretaker Prime Minister Anutin Charnvirakul said on Saturday that Thai forces would continue military action along the Cambodia border until Bangkok believes there is no longer a threat to Thai territory or civilians.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
EU foreign policy chief Kaja Kallas has warned that without concrete concessions from Russia, such as limiting its military forces or curbing its defence budget, new conflicts could erupt elsewhere, even if Ukraine receives security guarantees.
Multiple people were shot on Saturday at Brown University in Providence, Rhode Island, prompting an active shooter alert and a campus lockdown, city officials said.
The latest round of clashes between Thailand and Cambodia has left 15 Thai soldiers dead and 270 others injured, Thailand’s Ministry of Defence spokesman Surasant Kongsiri said at a press conference on Saturday.
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