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Hans India
14-05-2025
- Business
- Hans India
Nara Lokesh to lay stone for Renewable Energy Complex on May 16
A significant renewable energy complex is set to be established in the Anantapur district, with an investment of Rs 22,000 crore. Minister Nara Lokesh will lay stone for the nation's largest integrated project on Friday, 16th. The construction site is located in Bettapalli, within the Guntakal constituency. Discussions between Minister Lokesh and Renew Chairman Sumanth Sinha at the Davos World Economic Forum have led to this fruitful collaboration, marking Renew Power's commitment to invest in the state after a six-year hiatus. In the initial phase of the project, Renew Power will invest Rs 7,000 crore, focusing on the development of 587 MW of solar, 250 MW of wind, and 415 MW of battery storage units. Future phases will expand capacity to include 1,800 MW of solar energy, 1 gigawatt of wind power, and 2,000 MW of battery storage. Since 2019, Renew Power has established itself as a significant investor in Andhra Pradesh's renewable energy sector, with a capacity of 777 MW. Minister Nara Lokesh aims to attract a total of 72 GW of renewable energy projects to the state over the next five years.
The Guardian
20-02-2025
- Entertainment
- The Guardian
US culture war show comes to London – and strikes a chord with European populists
On stage in a corner of east London, the US folk singer Oliver Anthony got a rapturous reception this week for a rendition of his smash hit Rich Men North of Richmond, a tune about inequality and the political elite's disregard for the working class. Rather than performing in one of London's dozens of music venues, however, Anthony – who has claimed his song doesn't take any particular partisan side – was playing to an elite gathering: the well-heeled conservative activists, donors and politicians from the US, the UK and around the world who descended on the now yearly Alliance for Responsible Citizenship (Arc). Part political conference, part evangelical rally and compared by some present – not without irony – to the Davos World Economic Forum, the conference has emerged as an increasingly influential gathering of libertarian and populist forces, promoting climate scepticism and social conservatism. And what it brought this year in particular, after the election of Donald Trump in the US, was clear. Days after JD Vance's ideological savaging of European ideals at the Munich Security Conference, where he alleged Europe's greatest threat came 'from within' and accused it – without irony – of illiberalism and anti-democratic tendencies, Arc 2025 celebrated a new kind of American export: ideological finger-wagging. Every day came fresh interventions by key Trump allies that acted as a cold shower for any Europeans still hoping the vice-president's words had been a blip. 'If we can reclaim our country, if we can reclaim our institutions, including the bloated, ridiculous overreach of the federal government, you can do what is necessary in your country,' Kevin Roberts, the president of the US Heritage Foundation that was behind the radical-right Project 2025 blueprint for a second Trump presidency, reportedly said at one of a number of lavish events on the sidelines of the conference, according to DeSmog. Over three days, at an event interspersed with classical music and other cultural flourishes, attenders who had paid hundreds of pounds for tickets listened to a succession of conservative thinkers ranging from the British historian Niall Ferguson to the self-styled Danish 'sceptical environmentalist' Bjørn Lomborg take to a stage inside London's giant Excel conference centre. A near-constant presence – as host, interviewer and glad-hander – was Jordan Peterson, the Canadian psychologist and self-help author who co-founded Arc in 2023 with a British conservative member of the House of Lords, Philippa Stroud. But it was the American cultural attacks on European leaders – on everything from their net zero climate targets or their perceived failure to defend 'western values' – that particularly energised the audiences. Trump's energy secretary, Chris Wright, chastised Britain in a virtual address for 'aggressively pursuing' what he described as the 'lunacy' of net zero. 'This is impoverishing your own citizens in a delusion,' said the former fracking executive, to cheers. Mike Johnson, the US speaker of the House of Representatives, who is a member of Arc's advisory board along with the former Republican presidential candidate Vivek Ramaswamy, spoke too. He cited recent elections in France, Italy, the Netherlands and Germany – where far-right forces are on the rise or in power – as demonstrating how voters had concerns about 'unchecked power and the erosion of national society'. Both interventions came after explicit support for the far-right Alternative for Germany party by Elon Musk, the richest man in the world who has become Trump's government-slashing consigliere, and whose appearances on screen at AfD rallies caused shock in Germany and throughout Europe. Musk, too, has thrown about apocalyptic allegations about Europe's supposed censorship, in particular smearing Britain's leaders, including the prime minister, Keir Starmer, and voicing support for the far-right activist Stephen Yaxley-Lennon, known by the pseudonym Tommy Robinson and currently imprisoned for contempt of court. Far from running a mile from these increasing Trumpian characterisations of Europe as a dystopian hellscape, however, Arc underlined how the narrative has become one that some conservatives in Britain and the European continent are only too eager to embrace. Kemi Badenoch, the relatively new leader of Britain's opposition Conservative party, paid homage on Arc's first day to the US president's leadership and repeated a series of Trumpian attack priorities, castigating 'pronouns, or DEI, or climate activism'. She was followed on Tuesday by Nigel Farage – her rightwing rival and leader of the anti-immigration Reform UK party – who has sought to make much of his relationship with Trump. Echoing a term that has become a rallying cry by Trump and those around him, Farage told Peterson: 'Our platform is to re-industrialise Britain.' As far as Arc's own description went, it was about 're-laying the foundations of our civilisation' by bringing together 'thought leaders and changemakers' who were committed to 'a hope-filled vision for the future'. Though not overtly religious, a strong Christian current ran through the event's discussions, while Stroud, Peterson and other Arc funders make much of their faith. Joining Peterson via a virtual link in a discussion about the opportunities and challenges that AI technology presented to humanity, the Silicon Valley billionaire and Republican supporter Peter Thiel – who has helped to bankroll Vance's political career – sought to look for answers in Christian theology. 'I think there were a lot of classical humanist ways to define human beings and I think those have gotten exploded. I think in a way, the more Christian ones are the only ones that are still left standing,' said Thiel, a founder of the information technology company Palantir and a co-founder of PayPal with Musk. But the conference also demonstrated the increasing reach and ambitions of rightwing US advocacy groups to expand their influence beyond America's borders. Outside the main auditorium, stands run by organisations including the US libertarian network Students for Liberty and the free market Adam Smith Institute stood alongside groups engaged in Britain's own 'culture wars' – such as History Reclaimed and the 'anti-woke' campaign Restore Trust. At one large stand, Focus on the Family, the US-based rightwing evangelical Christian group with 13 offices around the world, was promoting a documentary it aims to stream later this year about the activities of like-minded activists internationally. 'This film is about responding to the cultural moment we are in,' said Ken Windebank, minutes after the head of a Slovakian anti-abortion NGO approached him about the possibility of collaborating. He said the film 'is intended to galvanise people who are living out their Christian faith and trying to change things'. Some wariness still remained among at least a few European attenders of the radical new direction being charted by the US right. An older Austrian Christian Democrat who did not want to be named said he agreed with the sentiment of Vance's speech in Munich, but was put off by what he regarded as the US vice-president's aggressive approach. Like many others, too, he also admitted to being at a loss as to what Arc was actually for. 'This is clearly extremely well funded, and we're hearing much that we can agree on. But I'm still sort of left wondering about its role, though it is a great networking opportunity,' he added. Sam LaCrosse, a Trump-supporting podcaster and Christian public speaker from Texas, had no such hesitation: Arc, he said, was for finding common cause between Britons, Americans and others in what he viewed as a global populist uprising. 'The Trump wind gave us permission to do what we are doing, and then we have the cultural relevancy of Jordan Peterson here who has naturally pushed him to take on a more expansive role,' LaCrosse said. 'But I'm also just happy to be here around people with similar value sets. I'm 27 and it's a confirmation I'm going down the right path.'
Yahoo
14-02-2025
- Business
- Yahoo
'No reason' for new nukes: Trump floats disarmament talks with China, Russia
President Donald Trump floated a joint meeting with Chinese President Xi Jinping and Russian President Vladimir Putin, claiming he wants all countries to move toward denuclearization. Trump on Thursday told reporters he plans to advance these denuclearization talks once "we straighten it all out" in the Middle East and Ukraine, comments that come as the U.S., Russia and Ukraine are actively pursuing negotiations to end the conflict between Russia and Ukraine. "There's no reason for us to be building brand new nuclear weapons, we already have so many," Trump said Thursday at the White House. "You could destroy the world 50 times over, 100 times over. And here we are building new nuclear weapons, and they're building nuclear weapons." "We're all spending a lot of money that we could be spending on other things that are actually, hopefully, much more productive," he said. The U.S. is projected to spend approximately $756 billion on nuclear weapons between 2023 and 2032, according to a Congressional Budget Office report released in 2023. Putin Viewed As 'Great Competitor' But Still A Us 'Adversary' As Ukraine Negotiations Loom, Leavitt Says Read On The Fox News App Additionally, Trump said that he was aiming to schedule meetings with Xi and Putin early on in his second term and request that the countries cut their military budgets in half. The president said he believes "we can do that," and remained indifferent about whether he traveled to Xi or Putin, or if they visited the White House. Meanwhile, the U.S. has dramatically reduced its nuclear arsenal since the fall of the Berlin Wall in 1989. The U.S. maintains 3,748 nuclear warheads as of September 2023, a drop from the stockpile of 22,217 nuclear warheads in 1989, according to the Department of Energy. The agency reported the U.S. owned a maximum of 31,255 nuclear warheads in 1966. In comparison, Russia has an estimated stockpile of roughly 4,380 nuclear warheads, while China boasts an arsenal of roughly 600, according to the Federation of American Scientists. Trump's remarks build on previous statements he made in January at the Davos World Economic Forum in Switzerland, where he signaled interest in talks on denuclearization with both Russia and China. "Tremendous amounts of money are being spent on nuclear, and the destructive capability is something that we don't even want to talk about today, because you don't want to hear it," Trump said on Jan. 23. Previous talks between the U.S., Russia and China fell through in 2020 during Trump's first administration after he refused to sign an extension of the 2010 New Strategic Arms Reduction Treaty with Russia to impose limits on each country's nuclear arsenals. The treaty ultimately was renewed under the Biden administration and now expires in 2026, but Russia suspended its participation. On Thursday, Trump accused these negotiations of falling apart due what he called the "rigged election" in 2020. No Longer Taken Advantage Of: Trump Signs Order Prioritizing 'Unified' Us Foreign Policy Front Trump also said on Thursday that Putin wants peace after Russia invaded Ukraine in 2022, comments that followed back-to-back calls with the Russian leader and Ukrainian President Volodymyr Zelenskyy on Wednesday. Treasury Secretary Scott Bessent also traveled to Kyiv on Wednesday. Trump, who met with Zelenskyy in New York in September 2024, urged Putin to cease the war — or face sanctions — in a post on Truth Social on Jan. 22. "Settle now, and STOP this ridiculous War! IT'S ONLY GOING TO GET WORSE," Trump wrote. If we don't make a 'deal', and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."Original article source: 'No reason' for new nukes: Trump floats disarmament talks with China, Russia
Fox News
13-02-2025
- Business
- Fox News
'No reason' for new nukes: Trump floats disarmament talks with China, Russia
President Donald Trump floated a joint meeting with Chinese President Xi Jinping and Russian President Vladimir Putin, claiming he wants all countries to move toward denuclearization. Trump on Thursday told reporters he plans to advance these denuclearization talks once "we straighten it all out" in the Middle East and Ukraine, comments that come as the U.S., Russia and Ukraine are actively pursuing negotiations to end the conflict between Russia and Ukraine. "There's no reason for us to be building brand new nuclear weapons, we already have so many," Trump said Thursday at the White House. "You could destroy the world 50 times over, 100 times over. And here we are building new nuclear weapons, and they're building nuclear weapons." "We're all spending a lot of money that we could be spending on other things that are actually, hopefully, much more productive," he said. The U.S. is projected to spend approximately $756 billion on nuclear weapons between 2023 and 2032, according to a Congressional Budget Office report released in 2023. Additionally, Trump said that he was aiming to schedule meetings with Xi and Putin early on in his second term and request that the countries cut their military budgets in half. The president said he believes "we can do that," and remained indifferent about whether he traveled to Xi or Putin, or if they visited the White House. Meanwhile, the U.S. has dramatically reduced its nuclear arsenal since the fall of the Berlin Wall in 1989. The U.S. maintains 3,748 nuclear warheads as of September 2023, a drop from the stockpile of 22,217 nuclear warheads in 1989, according to the Department of Energy. The agency reported the U.S. owned a maximum of 31,255 nuclear warheads in 1966. In comparison, Russia has an estimated stockpile of roughly 4,380 nuclear warheads, while China boasts an arsenal of roughly 600, according to the Federation of American Scientists. Trump's remarks build on previous statements he made in January at the Davos World Economic Forum in Switzerland, where he signaled interest in talks on denuclearization with both Russia and China. "Tremendous amounts of money are being spent on nuclear, and the destructive capability is something that we don't even want to talk about today, because you don't want to hear it," Trump said on Jan. 23. Previous talks between the U.S., Russia and China fell through in 2020 during Trump's first administration after he refused to sign an extension of the 2010 New Strategic Arms Reduction Treaty with Russia to impose limits on each country's nuclear arsenals. The treaty ultimately was renewed under the Biden administration and now expires in 2026, but Russia suspended its participation. On Thursday, Trump accused these negotiations of falling apart due what he called the "rigged election" in 2020. Trump also said on Thursday that Putin wants peace after Russia invaded Ukraine in 2022, comments that followed back-to-back calls with the Russian leader and Ukrainian President Volodymyr Zelenskyy on Wednesday. Treasury Secretary Scott Bessent also traveled to Kyiv on Wednesday. Trump, who met with Zelenskyy in New York in September 2024, urged Putin to cease the war — or face sanctions — in a post on Truth Social on Jan. 22. "Settle now, and STOP this ridiculous War! IT'S ONLY GOING TO GET WORSE," Trump wrote. If we don't make a 'deal', and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."
Yahoo
28-01-2025
- Business
- Yahoo
Mortgage Predictions Weekly: What Fewer Fed Cuts Mean for Homebuyers
Average 30-year fixed mortgage rates have remained around a steep 7% for several weeks. While President Donald Trump has claimed he will bring mortgage rates down to 3% -- which would indicate a severe economic crisis -- the president doesn't set rates on home loans. Even the Federal Reserve, which sets a short-term benchmark interest rate for lenders, only indirectly impacts the mortgage market. The Fed is expected to hold interest rates steady at its first policy meeting of the year this week, Jan. 28-29. In the later months of 2024, the central bank cut interest rates three times, but mortgage rates didn't fall. That's because rates are primarily driven by movement in the bond market, specifically on the 10-year Treasury yield. Bond yields and interest rates rise or fall depending on how new economic data and policies shift market speculation and risk assessment. Right now, mortgage rates are elevated due to a combination of factors: "strong" economic growth, the new Trump administration and the Fed's less aggressive rate-cutting path in 2025. Since starting his second term, Trump has been moving forward with some of his policies around immigration and trade, which many experts see as inflationary. "Higher tariffs and restrictive immigration policies would increase costs for homebuyers at a time when affordability is near a four-decade low," said Matt Walsh, housing economist at Moody's Analytics. Mortgage rates will continue to fluctuate as investors speculate about the future. If inflation remains high or starts to rebound, mortgage rates will increase, regardless of the president's promise to lower borrowing costs. "On mortgage rates, we're more data dependent than ever," said Greg Sher, managing director at NFM Lending. Given slow progress on inflation and concerns about it reheating, the Fed is expected to leave interest rates unchanged at its next few policy meetings. "The earliest possible rate cut would be in March, and that assumes a compelling drop in [inflation] in the two reports between now and then," said Matt Graham of Mortgage News Daily. As of now, though, most investors are betting another rate reduction won't come until late spring or early summer. The Fed is likely to face pressure from the new president if additional cuts aren't made. During a virtual appearance at the Davos World Economic Forum on Thursday, Trump said he would demand interest rates to drop immediately. "I think I know interest rates much better than they do, and I think I know it certainly much better than the one who's primarily in charge of making that decision," said Trump, likely referring to Fed Chair Jerome Powell, to reporters in the Oval Office on Thursday. "If I disagree, I will let it be known." But there's only so much Trump can actually do with regard to the central bank. Aside from voicing his opinions, the president's most direct power over the central bank is through naming appointees to fill vacancies on the Board of Governors. Similar to stacking the Supreme Court, the president could appoint Fed board members whose views on monetary policy align with his own. However, the earliest Trump will be able to make any new appointments will be in early 2026. Mortgage rates are always in flux, but homebuyers should expect more turbulence than usual over the next few months. Earlier last year, many economists optimistically predicted that interest rates would dip below 6% in early 2025. However, since Trump's reelection and the Fed's declaration of less frequent policy easing in 2025, the forecast for mortgage rates has shifted upward. Fannie Mae now expects average 30-year fixed mortgage rates to hold above 6.5% until early 2025. Meanwhile, Moody's Walsh predicts mortgage rates to average just below 7% throughout the year. Next month's economic data could always change the equation. "If the economic data starts to weaken, we may have already seen the peak rates for the year," said Logan Mohtashami, lead analyst at HousingWire. In CNET's 2025 mortgage forecast, Mohtashami noted that rates in the low-6% range are still possible in 2025. But it will be difficult to achieve this, particularly in time for the spring homebuying season, if new economic policies recharge inflation or boost government debt deficits. Today's unaffordable housing market results from high mortgage rates, a long-standing housing shortage, expensive home prices and a loss of purchasing power due to inflation. 🏠 Low housing inventory: A balanced housing market typically has five to six months of supply. Most markets today average around half that amount. According to Freddie Mac, we still have a shortage of around 3.7 million homes. 🏠 Elevated mortgage rates: In early 2022, mortgage rates hit historic lows of around 3%. As inflation surged and the Fed hiked interest rates to tame it, mortgage rates more than doubled. In 2025, mortgage rates are still high, pricing millions of prospective buyers out of the housing market. 🏠 Rate-lock effect: Since the majority of homeowners are locked into mortgage rates below 5%, they're reluctant to give up their low mortgage rates and have little incentive to list their homes for sale, leaving a dearth of resale inventory. 🏠 High home prices: Although home buying demand has been limited in recent years, home prices remain high because of a lack of inventory. The median US home price was $427,179 in December, up 6.2% on an annual basis, according to Redfin. 🏠 Steep inflation: Inflation means an increase in the cost of basic goods and services, reducing purchasing power. It also impacts mortgage rates: When inflation is high, lenders typically raise interest rates on consumer loans to ensure a profit. It's never a good idea to rush into buying a home without knowing what you can afford, so establish a clear home-buying budget. Here's what experts recommend before purchasing a home: 💰 Build your credit score. Your credit score will help determine whether you qualify for a mortgage and at what interest rate. A credit score of 740 or higher will help you qualify for a lower rate. 💰 Save for a bigger down payment. A larger down payment allows you to take out a smaller mortgage and get a lower interest rate from your lender. If you can afford it, a down payment of at least 20% will also eliminate private mortgage insurance. 💰 Shop for mortgage lenders. Comparing loan offers from multiple mortgage lenders can help you negotiate a better rate. Experts recommend getting at least two to three loan estimates from different lenders. 💰 Consider renting. Choosing to rent or buy a home isn't just comparing monthly rent to a mortgage payment. Renting offers flexibility and lower upfront costs, but buying allows you to build wealth and have more control over your housing costs. 💰 Consider mortgage points. You can get a lower mortgage rate by buying mortgage points, with each point costing 1% of the total loan amount. One mortgage point equals a 0.25% decrease in your mortgage rate. How the Federal Reserve's Decisions Impact Mortgage Rates Why Fed Rate Cuts Aren't a Cure-All for High Mortgage Rates Most Homebuyers Won't Budge Until Mortgage Rates Drop to 4%, CNET Survey Finds You Might Be Eager to Buy a House, but Homeowners Are Holding Tight to Their Mortgages Despite Lower Mortgage Rates, Another Refinancing Boom Isn't Likely. Here's Why Forget Mortgage Rates. Americans Say They Can't Even Save for a Down Payment
