News in Brief
Economy minister in Cairo for AIIB meeting
MEHR – Ehsan Khadnouzi, Iran’s Minister of Economic Affairs and Finance arrived in Cairo on Sunday heading a delegation to attend the 8th annual meetings of the Asian Infrastructure Investment Bank (AIIB).
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that provides financing for infrastructure projects in Asia. Like other development banks, its mission is to improve social and economic outcomes in its region, Asia, and beyond. It has 106 member countries and $100 billion of capitalization, as of 2023.
Iran attains self-sufficiency in petchem
industry: NPC
TASNIM – The chief executive of the Iranian National Petrochemical Company (NPC) said that 100 percent of the petrochemical complexes in the country are administered by the company.
Morteza Shahmirzaei made the remarks on Saturday and emphasized that the company is now an exporter of petrochemical parts and equipment.
“Iran had possessed seven petrochemical complexes before the Islamic Revolution while the number is currently close to 70 and they produce more than 550 petrochemical
items.”
China:
Phasing out fossil fuels
‘unrealistic’
REUTERS – The complete phasing-out of fossil fuels is not realistic, China’s top climate official said, adding that these climate-warming fuels must continue to play a vital role in maintaining global energy security.
Countries are under pressure to make more ambitious pledges to tackle global warming after a U.N.-led global “stocktake” said 20 gigatons of additional carbon dioxide reductions would be needed this decade alone to keep temperatures from exceeding the critical threshold of 1.5 degrees Celsius.