Latest news with #infrastructure
Reuters
14 minutes ago
- Business
- Reuters
China prepares $70 billion in new capital to boost investment, Bloomberg News reports
May 30 (Reuters) - China plans to allocate 500 billion yuan ($69.51 billion) of capital that could be used to fast track new infrastructure projects, Bloomberg News reported on Friday, citing people familiar with the matter. China's three policy banks will raise funds and buy stakes in projects, the report said. It also said that the policy lenders may issue bonds or use other methods to tap financing. ($1 = 7.1936 Chinese yuan renminbi)
Bloomberg
20 minutes ago
- Business
- Bloomberg
Nigeria Plans $464 Million Waterway Boost to Ease Lagos Traffic
The state housing Nigeria's economic hub is engaging the European Union to develop inland waterways as part of an integrated urban-transport system intended to ease gridlock in Lagos, which is also its most populous city. They are due to break ground on the €410 million ($464 million) project in June, the Lagos state government said in an emailed statement Friday.
Gulf Business
26 minutes ago
- Business
- Gulf Business
SOFAZ invests $50m in ADNOC Gas Pipeline assets via Lunate-managed fund
Image: Supplied The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has invested $50m in ADNOC Gas Pipeline Assets (AGPA) through a specialised investment fund managed by Abu Dhabi-based alternative investment firm Lunate Capital, the parties said in a joint statement on Thursday. The transaction supports SOFAZ's strategy to diversify its portfolio and deepen economic engagement with the Gulf Cooperation Council (GCC), specifically by gaining exposure to resilient, income-generating infrastructure assets. ADNOC Gas Pipeline Assets holds usage rights over one of the UAE's most critical energy assets. ADNOC Gas Pipeline Assets investment holds strategic importance The network spans 982 kilometres and includes 38 pipelines — 12 dedicated to sales gas, 15 for gas injection, and 11 for natural gas liquids. It is governed by a long-term usage agreement with The asset has consistently delivered stable operational performance and predictable income, even during periods of global energy market volatility, according to the companies. 'AGPA stands out as a high-quality, strategically vital infrastructure platform with long-term relevance and strong income-generating potential,' said Farhad Zeynalov, CIO at SOFAZ. 'We are delighted with the opportunity to partner with Lunate on this transaction, which marks a significant step in advancing SOFAZ's investment footprint across the GCC region.' Nabeel Qadir, senior partner at Lunate, said: 'We are excited to provide SOFAZ the opportunity to invest in ADNOC Gas pipelines, a critical asset in the UAE's energy infrastructure, offering highly attractive, risk-adjusted returns. This transaction demonstrates Lunate's ability to deliver customised solutions for our clients and partners, through unique access to global and UAE-specific investment opportunities.' Read:
Bloomberg
40 minutes ago
- Business
- Bloomberg
China Preps $70 Billion in New Capital to Supercharge Investment
China plans to allocate 500 billion yuan ($70 billion) of capital that could be leveraged up to fast track new infrastructure projects as authorities seek to cushion the economy from US tariffs, according to people familiar with the matter. Under the so-called 'new financing policy tool,' the nation's three policy banks will raise funds and buy stakes in projects, one of the people said, asking not to be identified discussing a private matter. The policy lenders may issue bonds or use other methods to tap financing, according to the person.
Fast Company
an hour ago
- Business
- Fast Company
‘Jeopardy!' star Ken Jennings is hosting a miniseries about the history of public transit
In September 2024, Jeopardy! host Ken Jennings took a brief interlude from taping one of America's most iconic game shows to film another series: a YouTube show about the history of public transit, set in his local county of Snohomish, Washington. The show, called The Transit Effect, is a seven-part series that examines why public transit matters, diving into everything from infrastructure and economic growth to access to work, school, and healthcare. It's the brainchild of Community Transit, a public transportation agency in Washington's Snohomish County, just north of Seattle. The show's first episode is now available on YouTube and on Community Transit's website, with the remaining installments slated to drop over the coming months and into 2026. Starting with the electric streetcars of the 1920s, The Transit Effect maps how American communities have been shaped by public transit—and, amid today's notoriously car-centric American infrastructure, it presents a thesis for investing in more sustainable transportation options. The show is especially timely, given the Trump administration's current crackdown on renewable energy and support for various fossil fuel industry projects. 'We hope viewers come away with a deeper appreciation for how much public transit shapes daily life—even if they never set foot on a bus,' says Community Transit public information officer Monica Spain. 'If this series sparks someone to think, 'I had no idea transit did all that,' or nudges them to take a ride instead of drive, that's a win.' How Snohomish County's 'Community Transit' snagged Ken Jennings Rory Graves is a senior marketing copywriter at Community Transit who helped develop and write The Transit Effect. She says that, when the idea for the show first came about, the team knew the series would need to be anchored by a host who was both familiar and trustworthy to a wide range of audiences. It wasn't a new challenge for the agency: In 2024, Community Transit partnered with American travel writer Rick Steves—who has lived in Edmonds, Washington (a city inside Snohomish County) since 1967— on another educational transit series. For The Transit Effect, Graves thought Jennings, another longtime Edmonds resident, could be the perfect fit. 'We wanted to find someone who was a trusted source of information to do that storytelling. Who better than Ken Jennings?' Graves says. In 2004, Jennings won 74 consecutive games of Jeopardy!, the longest winning streak in the show's history, before becoming its host in 2021. Beyond his impressive credentials, Jennings also has a personal connection to Community Transit: As a college student, Jennings frequently rode the agency's buses between his family's home in Edmonds and the University of Washington. Today, he lives in Seattle. After Community Transit reached out to him over email, Jennings readily agreed to host The Transit Effect. But there was a small catch. Given Jennings' tight schedule, the entire seven-part series had to be filmed in just four hours—a feat that required extensive preparation and multiple dry runs to 'test every piece of equipment, walk through the setup, and build in redundancies,' Graves says. 'We don't have a huge budget like Amazon or Coca-Cola for our campaigns, but Ken was happy to collaborate with us, and we're thankful for that.' Exploring how public transit shaped America as we know it To give viewers a peek behind the curtain at the history of public transit, The Transit Effect is organized into sub-10-minute episodes by themes. Episode 1, for example, details how '20s era streetcars, electric trolleys, and subway systems determined how major American cities expanded; episode 3 dives into the environmental impact of public transit compared to travel by car; and episode 6 explains how public transit can serve as a vital lever of accessibility for kids, the elderly, those with disabilities, and those without access to a vehicle. Throughout the series, Jennings refers to local examples to help illustrate this history—like in episode 1, which notes how the expansion of the Link light rail, a train system in the Seattle area that opened in 2009, has roots that extend back by more than 100 years. 'Everyone's talking about Link light rail expansion, but did you know our region had electric mass transit more than a century ago?' Graves says. 'The old Interurban Trolley once ran along the same route we now know as the Interurban Trail. We often treat electric transit like it's brand new, but it's actually part of our history. What's fascinating is how long cleaner, electric options have existed—and how car-centric planning pushed them aside.' Another surprising tidbit explored in the show is how public transit shaped the musical world. The series highlights how New York City's subway system helped make Harlem a cultural epicenter for Black Americans in the '20s and '30s, attracting the musicians that would ultimately bring the Harlem Renaissance to life. 'It's wild to think that something as everyday as a transit system could set off a domino effect that helped launch the careers of artists whose legacies have helped define modern music,' Graves says. Through these stories, Spain says, Community Transit hopes to help viewers understand how 'public transportation shapes communities and removes barriers to opportunity,' and to encourage community members to invest in their local public transit systems. 'More than anything, we want people to see transit not just as a service, but as a powerful force for good in our region,' Spain says.
