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Yahoo
24 minutes ago
- Yahoo
China starts construction on world's largest hydropower dam in Tibet
HONG KONG (Reuters) -China's Premier Li Qiang announced the start of construction on what will be the world's largest hydropower dam, located on the eastern rim of the Tibetan plateau and estimated to cost around $170 billion, the official Xinhua news agency said. The project is part of China's push to expand renewable energy and reduce carbon emissions. Consisting of five cascade hydropower stations, the dam will be located in the lower reaches of the Yarlung Zangbo River and could affect millions downstream in India and Bangladesh. Li described the hydropower project as a "project of the century" and said special emphasis "must be placed on ecological conservation to prevent environmental damage", Xinhua said in its report on Saturday. Authorities have not indicated how many people the Tibet project would displace and how it would affect the local ecosystem, one of the richest and most diverse on the plateau. But according to Chinese officials, hydropower projects in Tibet will not have a major impact on the environment or on downstream water supplies. India and Bangladesh have nevertheless raised concerns about the dam. NGOs including the International Campaign for Tibet say the dam will irreversibly harm the Tibetan plateau and that millions of people downstream will face severe livelihood disruptions. The dam is estimated to have a capacity of 300 billion kilowatt-hours of electricity annually and is expected to help meet local energy demand in Tibet and the rest of China. The project will play a major role in meeting China's carbon peaking and carbon neutrality goals, stimulate related industries such as engineering, and create jobs in Tibet, Xinhua said in December when the project was first announced. A section of the Yarlung Zangbo falls a dramatic 2,000 metres (6,561 feet) within a short span of 50 km (31 miles), offering huge hydropower potential. The Yarlung Zangbo becomes the Brahmaputra river as it leaves Tibet and flows south into India's Arunachal Pradesh and Assam states and finally into Bangladesh. China has already started hydropower generation on the upper reaches of the Yarlung Zangbo, which flows from the west to the east of Tibet.
Yahoo
24 minutes ago
- Yahoo
Trump's tariffs on Canada might be here to stay, U.S. Secretary of Commerce says
With less than two weeks to go for Canada to make a trade deal with the U.S., Prime Minister Mark Carney and the nation's premiers are set to tackle the issue during a three-day meeting in Ontario. As Mackenzie Gray reports, Trump's commerce secretary is making it clear the U.S. is firmly committed to imposing substantial levies if American demands are not met.
Bloomberg
26 minutes ago
- Bloomberg
Gold Steadies as Fed Officials Express Mixed Views on Rate Cuts
Gold was steady as markets opened on Monday, with traders weighing differing views from US Federal Reserve officials on how President Donald Trump's tariff agenda will impact inflation. Bullion traded near $3,350 an ounce — after a small decline last week — as Fed Governor Christopher Waller advocated for a rate cut last week. Governor Michelle Bowman has also expressed an openness to a reduction, while their colleagues remained more cautious due to the risk of persistent inflation triggered by tariffs. Lower borrowing costs tend to benefit gold as it doesn't pay interest.
