Day: September 12, 2022

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Africa MENA Pakistan Press Releases South Africa

Mecobit Mining Rigs Announces the Biggest Hash-Rate in the Market

LONDON, Sept. 12, 2022 (GLOBE NEWSWIRE) — MECO Limited (Mecobit), one of the world’s leading manufacturers of solar modules and complete solutions, recently launched new products Solar Unit M4000, Solar Panel Kit (complete), Portable Power Station, M100 Miner, M200 Miner, Meco Rack, which has attracted wide attention in the industry. The result of five years of research, development and testing, this new technology platform enables the production of frameless, thin, lightweight and adaptable solar panels with the performance of comparable standard solar panels.

“We are very excited to bring revolutionary innovation to the field of solar energy,” said Ben Lukas (Chief Marketing Officer). “In addition to the new development work and modules from design and material, this new technology platform has fundamentally helped us with the unique solar-electric technology. Mecobit The Solar System has a unique ability to pass through the shadow, continuing to produce energy in conditions that will shut down other panels.”

Compared to previous innovations, charging speed, battery life, security guarantees and user experience have improved. Mecobit M4000 Solar Unit and Solar Panel Kit is compatible with many devices, tools, equipment, home and electronic industries such as cryptocurrency miners, providing security, long backup and other areas of power. Mecobit Solar Systems Long Life Battery: M4000 Solar Unit, Solar Panel Kit (complete), Portable Power Station passes standard tests such as short circuit, overload, extrusion, acupuncture, etc.

And as governments agree to reduce levels of carbon emissions and introduce additional incentives like investment tax credits, it’s possible that the share of mining operations using solar power will increase even more. Solar power may be considered green and renewable, but there are also significant problems with solar, including the limits of sunlight hours.

Shipping costs

As a consequence of this, Mecobit will pay for both shipping and import tariffs, enabling customers to acquire everything they require to get started with no further costs beyond the cost of the device itself.

About Mecobit

Established in 2015 with the goal of developing and marketing the world’s solar powered cryptocurrency miners, which can use either Ethash, SHA-256 or Scrypt technology depending on the miner’s preference. The company asserts that it was the very first solar powered cryptocurrency mining enterprise in the world. “We wanted to revolutionize the industry with the solar panels by providing more power at a more affordable price than was previously thought to be possible,” B. Franci (Founder).

Mecobit is headquartered in Chiswick High Road, London, England, and has offices in several other cities across the world, including the United States. The company’s website, www.mecobit.com, provides additional information on the company and its products.

Ben Lukas
ben.lukas@mecobit.com

Categories
MENA Press Releases

Air Products’ Middle East Merchant Industrial Gas Joint Venture, Abdullah Hashim Industrial Gases & Equipment Co. Ltd., Acquires Air Liquide’s Merchant Industrial Gases Business in the Kingdom of Saudi Arabia

Acquisition of Air Liquide Al Khafrah Industrial Gases includes liquid bulk, packaged gases and specialty gases and builds on prior acquisitions of Air Liquide’s industrial merchant gas assets in the region

LEHIGH VALLEY, Pa., Sept. 12, 2022 /PRNewswire/ — Abdullah Hashim Industrial Gases & Equipment Co. Ltd. (AHG)―Air Products’ merchant industrial gas joint venture in the Kingdom of Saudi Arabia―today announced the acquisition of Air Liquide Al Khafrah Industrial Gases (ALKIG), Air Liquide’s industrial merchant gases business in the Kingdom of Saudi Arabia, including liquid bulk, packaged gases and specialty gases. Financial terms are not being disclosed.

Commenting on the acquisition, Mr. Khalid Hashim, managing director, AHG said: “We are proud to have Air Products as our partner in the Kingdom. The relationship between our companies has never been stronger and continues to thrive. In acquiring this business from Air Liquide, we strengthen our capabilities even further and as we continue to grow, our customers will reap the benefits in service from a passionate local business with a strong global partnership. We welcome the talented and dedicated people who have joined our organization and the enthusiasm and expertise they bring to serving our customers.”

“This acquisition, through AHG, supports our continued growth strategy for the region and builds on decades of experience working alongside and serving customers in the Middle East,” commented Mr. Hamid Sabzikari, vice president and general manager, Air Products Industrial Gases Middle East, Egypt and Turkey.

In January 2022, Air Products successfully concluded the acquisition of Air Liquide’s industrial merchant gases business in United Arab Emirates, including liquid bulk, packaged gases and specialty gases; and Air Liquide’s majority share in Middle East Carbon Dioxide W.L.L. (MECD), for a liquid carbon dioxide production facility in Bahrain. Air Products continues to demonstrate its commitment to the Middle East, growing its industrial gas business, expanding regional capabilities and strengthening product sourcing and reliability to better serve customers.

About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world’s largest industrial gas projects, including: gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals; carbon capture projects; and world-scale low- and zero-carbon hydrogen projects supporting global transportation and the energy transition.

The Company had fiscal 2021 sales of $10.3 billion from operations in over 50 countries and has a current market capitalization of over $55 billion. More than 20,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

About Abdullah Hashim Industrial Gases & Equipment (AHG)
Abdullah Hashim Industrial Gases & Equipment Co. Ltd. is one of the leading merchant industrial gas manufacturers and suppliers in the Kingdom of Saudi Arabia. In the 1940’s AHG was initially founded as a metalworking operation and as this operation grew, it led to the placement of the first Oxygen plant, at the first shipyard in Jeddah, Saudi Arabia.

Since AHG’s official establishment in 1954, the company shifted its focus from metalworking to becoming the safest and most reliable supplier of gases, gas related equipment, and gas services in the Kingdom. AHG still maintains its roots through its welding division where the company provides welding equipment and supplies to the market, and through the years AHG has also added a refrigerant gas division to its portfolio. In pursuit of AHG’s vision, Air Products became AHG’s international partner and shareholder for over 10 years. The successful partnership has been reinforced through shared values.

Cautionary Note Regarding Forward-Looking Statements: This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance.  While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors , including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021.  Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

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General

Foreign minister meets German delegation on ties

Foreign Minister Ayman Safadi Monday met with a German delegation headed by the spokesman for foreign affairs in the parliamentary group of the Social Democratic Party, Representative Nils Schmid, to discuss ties.

Safadi highlighted in a meeting in Amman the strategy of distinguished ties between Jordan and Germany and the common interest in continuing to work on improving bilateral cooperation in various cooperation within Jordan’s partnership with the EU.

The German delegation was briefed about the Jordanian efforts to resolve regional crises and uphold security and stability.

The delegates, in turn, praised Jordan’s role in prepping regional security and stability, lauding the humanitarian role played by the Kingdom towards refugees despite mounting pressures.

Source: Jordan News Agency

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General

Safadi meets EU envoys on ties

Foreign Minister Ayman Safadi Monday met with EU member state ambassadors in Amman and emphasised the “strong” Jordan-EU ties.

Safadi, EU Ambassadors and EU Delegation Ambassador discussed strengthening cooperation between Jordan and EU member states. They also discussed the latest regional and international developments.

Safadi praised the EU’s support for Jordan’s development to counter the fallout of regional and international crises.

He touched on the results and outcomes of the fourteenth meeting of the Association Council between Jordan and the EU, held at the Dead Sea in June.

The meeting sets the EU-Jordan partnership’s priorities that frame the relationship between Jordan and the EU until 2027, which confirms the common desire to strengthen relations and develop cooperation in joint efforts to resolve regional crises and uphold regional security and stability.

The meeting viewed the developments related to the Palestinian issue and the efforts to find a political breakthrough that would allow a return to serious and effective negotiations to achieve a just peace based on the two-state solution, which Jordan views as the only way to realise peace, praising the EU’s support for the two-state solution.

Safadi lauded the EU and EU member states for their support to the United Nations Relief and Works Agency for Palestine Refugees (UNRWA), noting the services the UN agency offers Palestinian refugees.

Safadi noted the need to continue paying attention to the victims of crises, praising what the international community has provided to Jordan to help bear the burden of the Syrian refugee crisis, highlighting the “remarkable” decline in international support for refugees.

Safadi added that Joran is looking forward to continued cooperation and coordination with its partners in the EU to realise shared goals in solving regional crises and achieving development, security and stability.

Source: Jordan News Agency

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General

Army chief receives Commander of US Central Command

Chairman of the Joint Chiefs of Staff Maj. Gen. Yousef Huneiti on Monday received Commander of the US Central Command, General Michael E. Kurilla, and the accompanying delegation.

In the meeting, held at the Royal Air Force Command, Huneiti and Kurilla discussed aspects of joint military cooperation and coordination, and ways to enhance bilateral ties to serve the interests of the armed forces of the two countries.

For his part, the US Commander stressed the importance of the relationship between the two armed forces and the continuous cooperation between them, and the two parties’ keenness to open new channels in the fields of joint military cooperation.

General Kurilla visited the Supreme Command of the Exercise Eager Lion at the Joint Training Center, and underlined the importance of this exercise and that it is a valuable opportunity to exchange expertise between the participating countries, and called for makeing maximum use of its activities and outcomes.

Prior to his departure, the Commander of the US Central Forces held a press conference at the Royal Air Force Command to discuss the Exercise Eager Lion 2022, which aims to build joint operations supporting the security of the region, and said that this exercise included cyber security, maritime security, border security operations, counter-terrorism, and the integration of the air defense system, in addition to the integration of communication.

Source: Jordan News Agency

Categories
General

Iraqi oil pumping to Jordan to resume next week

Pumping of Iraqi oil to Jordan will be resumed next week after a weeks-long hiatus, according to Assistant Secretary-General for Energy Affairs at the Ministry of Energy and Mineral Resources, Hassan Hiyari.

Oil quantities exported to Jordan since the agreement to continue working with the Memorandum of Understanding (MoU) signed between the two sides to import Iraqi Kirkuk crude oil in March amounted to 2.525 million barrels.

Hiyari told the Jordan News Agency (Petra) on Monday that the sale of oil from the Iraq to Jordan takes place according to the Brent crude rate, $16 per barrel out of which is subtracted to cover transportation costs, wages of the inspector/third party inspection party, and the quality difference.

Jordan imports 10,000 barrels of Iraqi Kirkuk crude oil per day, which constitutes about 7 per cent of the local market’s need according to the MoU signed between the Ministry of Energy and Mineral Resources and its Iraqi counterpart in in January of last year.

According to this MoU, the Jordanian side is committed to providing tankers for transporting Iraqi crude oil in the Iraqi Baiji region to the Jordan Petroleum Refinery Company in Zarqa, eastrem Amman. Then, tankers is distributed equally between the Jordanian and Iraqi companies.

Source: Jordan News Agency

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General

Eurozone Gov’ts to spend €300 billion to ease cost of living

The amount of money eurozone governments are committing to help consumers and businesses cope with the energy and cost-of-living crisis is quickly approaching €300 billion.

According data compiled by Reuters and think tank Bruegel, the bloc’s governments have already committed €282 billion – 2.3 per cent of their combined gross domestic product (GDP) – to relief measures and several have plans for billions more in the pipeline.

Source: Jordan News Agency

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General

Jordan Investor Confidence Index rises in 2022 Q1

The Jordan Investor Confidence Index, issued by the Jordan Strategies Forum (c), rose to 189.3 points in the first quarter of this year, compared to 168.1 points in the fourth quarter of last year.

The confidence index in economic activity rose to 200 points in the first quarter of this year, compared to 165.0 points in the fourth quarter of last year, the JSF said Monday in a statement.

The JSF added that the growth rate of GDP fell to 2.5 per cent in the first quarter of this year, compared 2.6 per cent in the fourth quarter of last year.

It pointed out that the budget deficit decreased reached JD345.8 million in 2022 Q1, compared to JD771.7 million in 2021 Q4.

According to the JSF, the value of inflows of foreign direct investment amounted to JD262.8 million in 2022 Q1, compared to JD114.0 million in 2021 Q4, and the Industrial Production Quantity Index increased to 90.3 points, compared to 89.7 points in the same period.

The confidence index in the monetary system also decreased during 2022 Q1 to 174.9 points, compared to 200 points in

2021 Q4.

The value of the foreign currency reserves of the Central Bank remained at JD14.7 billion in 2022 Q1, compared to the previous quarter.

The Interest Rate Differential (IRD) between the dinar and the dollar increased from 2.55 per cent in 2022 Q1 compared to 2.42 per cent in 2021 Q4, according to the JSF.

Source: Jordan News Agency

Categories
General

Normal summer weather expected in highlands, relatively hot elsewhere

Temperatures on Monday are forecast to slightly drop to their annual average for this time of the year, with normal summer weather conditions prevailing in the hilly areas and the plains, while it will be relatively hot in the Badia, the Jordan Valley, the Dead Sea, and Aqaba, the Jordan Meteorological Department (JMD) said in its daily brief.

Another drop in mercury levels is expected on Tuesday, with clouds appearing at low altitudes; and northwesterly moderate to brisk winds.

Moderate weather will prevail on Wednesday as temperatures continue to dip, with a weak chance for scattered showers in the northern region, while winds will be northwesterly moderate, picking up at times.

Today, mercury in the capital Amman will range between a high of 32 degrees Celsius and a low of 17C, while the port city of Aqaba will see a sweltering 37C, sliding to 26C at night.

Source: Jordan News Agency

Categories
General

Industrial Producers’ Prices index up 16.84pct in 7 months

The Industrial Producers’ Prices index picked up by 16.84 percent in the first seven months of 2022, reaching 141.40 points against 121.02 in the same period of 2021, according to official figures.

A report issued Monday by the Department of Statistics (DoS) indicated that the increase was mainly driven by transformative industries’ prices going up by 17.78 percent and extractive industries by 25.83 percent. Meanwhile, electricity prices index decreased by 6.01 percent.

In July 2022, the index amounted to 151.06 points compared to 125.73 in July 2021, signaling a rise of 20.15 percent, the figures showed.

The biggest contributors to the monthly increase, the report noted, are transformative and extractive industries with 19.50 and 55.14 percent, respectively, while electricity prices index retreated by 9.62 percent.

Source: Jordan News Agency