Posts From King World News

Environmental groups sue Florida legislature over budget

By Bill Cotterell MIAMI (Reuters) – Three environmentalist organizations sued the Florida legislature Monday, accusing lawmakers of defying a constitutional mandate and short-changing conservation land purchase and water protection projects. The Republican-controlled state House and Senate concluded a special legislative session last week with passage of a $79 billion state budget that left environmentalists upset over lack of funding for what they consider key projects to protect Florida’s water resources,

Ivanhoe Cambridge leads $920 million investment in Chinese developer

By Allison Lampert MONTREAL (Reuters) – Ivanhoe Cambridge, the real estate arm of a top Canadian pension fund, said on Monday that it led a $920 million capital raise in Shanghai developer Chongbang Group, as it and others in its consortium look to Asian markets for higher returns. This is the second institutional capital raising for Chongbang, which was created in 2003 in Hong Kong by Singaporean and Hong Kong

UAE property market set to decline: S&P

The UAE property market is set for a soft correction after three years of sharp rises but a crisis is ruled out, Standard & Poor’s ratings agency said on Monday. A report said additional supply and lesser demand on the United Arab Emirates property market this year is likely to result in a 10-20 percent correction in Dubai residential real estate prices. The S&P report stressed this would be much

US economist pens energy plan for Spain protest party

Spanish protest party Podemos teamed up Monday with a top US anti-austerity economist to launch a green energy plan which they said could create hundreds of thousands of jobs. Vying to drive out Spain’s governing conservative Popular Party in the year-end general election, Podemos turned for its energy investment programme to Robert Pollin, who has worked as an adviser to the US Department of Energy and the United Nations. In

More than 2,500 new UK onshore wind turbines threatened by subisidy cut

More than 2,500 new wind turbines, amounting to 7.1 gigawatts (GW) of electricity production capacity, are now unlikely to be built in Britain because of a fast-tracked subsidy cut outlined by the new government. British energy minister Amber Rudd said an earlier than planned reduction in onshore wind subsidies was necessary to avoid spending more than required to meet Britain’s legally binding green energy targets. “We are reaching the limits