Asia's energy transition hobbled by '80s tech', UK software CEO says
SHOTARO TANI
TOKYO -- Asian countries will be incapable of managing the transition to renewables with existing "1980s era" technology as the energy system becomes more complex, the CEO of a leading UK energy software company has warned.
They will be "physically unable to handle the energy transition and take advantage of the new capabilities that it brings" with outdated technology, Amir Orad, CEO of energy tech platform Kraken, told Nikkei Asia.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
33 minutes ago
- Nikkei Asia
EPL Champions Liverpool FC looks to Asia for growth
Sports English football club begins Asia tour with matches in Hong Kong, Japan Mohamed Salah celebrates after winning the Premier League at Anfield, Liverpool, on May 25. © Reuters CISSY ZHOU HONG KONG -- English football club Liverpool FC hopes to tap its millions of Asian fans to drive further growth, as the 2024-25 Premier League champion continues to run a financial deficit, according to CEO Billy Hogan. Liverpool FC generates most of its sales within the U.K., with revenue from the rest of the world contributing only a low single-digit percentage of the total.
Nikkei Asia
36 minutes ago
- Nikkei Asia
Letter from Nikkei Asia's editor: Japan gripped by hot weather and heated politics
Hello from Tokyo. Just like last year, Japan is experiencing another brutally hot summer. I relocated from Nikkei's Singapore bureau to our Tokyo editorial headquarters in spring 2024, and it's clear that Tokyo is much hotter than the tropical island nation. As temperatures soar above 35 C, I find myself exhausted by the relentless daily commute through this concrete jungle. Japan's political climate is proving just as heated, and bringing with it a sense of deja vu. Following a major defeat in last weekend's upper house election, pressure is mounting on Prime Minister Shigeru Ishiba to step down. It was during a similarly sweltering August last year that then-Prime Minister Fumio Kishida announced his resignation over a political funding scandal. Ishiba has yet to make a similar announcement, but it now feels like only a matter of time. With the Liberal Democratic Party and its coalition partner Komeito losing their majority, the race to choose Japan's next leader promises to be marked by deep uncertainty. Meanwhile, Aug. 1 is the deadline for the U.S. Trump administration's tariff negotiations with various countries. Several Asian nations, including Japan, have reached agreements, while key ASEAN members remain in talks. On Thursday, the border clashes between Thailand and Cambodia escalated. Summer is usually a slow season for news, but this year seems to be an exception. Please log in to Nikkei Asia and stay up to date with the latest developments. My suggested reads 1. Sunday's upper house election in Japan marked a historic turning point, with the long-dominant Liberal Democratic Party falling into a minority position in both chambers of parliament for the first time since the party's formation in 1955. The main opposition Constitutional Democratic Party also struggled, while newer, upstart parties made significant gains. What's driving these dramatic shifts in Japan's political landscape? 2. Japan is confident that it has the technological chops to pioneer a new type of solar panel -- thin, light, flexible perovskite panels -- but perfecting the chemistry and scaling up production are only two of the challenges facing the country. As our story explains, it must also cultivate customers for new products in a market long dominated by Chinese manufacturers. 3. After eight tough years, driven by the arrival of ride-hailing apps and then the pandemic, Indonesia's best-known taxi operator, Bluebird, is enjoying a revival. Company President Director Adrianto Djokosoetono attributes the turnaround to focusing on consistently high service levels, diversification and not joining its rivals' price war. Our reporters take a closer look at the company's recent renaissance. Wishing you a wonderful weekend! Akito Tanaka Sign up for the weekly Editor-in-chief's picks newsletter here. Follow us on LinkedIn and Instagram
Japan Today
an hour ago
- Japan Today
Asian shares retreat after Alphabet and AI stocks nudge Wall Street to more records
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, July 25, 2025, in Tokyo. (AP Photo/Eugene Hoshiko) By TERESA CEROJANO Asian shares retreated on Friday after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks helped offset a steep tumble for EV-maker Tesla. Japan's Nikkei 225 fell 0.9% to 41,456.23 after two days of gains following President Donald Trump's announcement of a trade deal that would place a 15% tax on imports from Japan. That's lower than the 25% rate that Trump had earlier said would kick in on Aug. 1. Data released on Friday showed the inflation rate in Japan's capital Tokyo rose 2.9% year-on-year in July, down from 3.1% in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In the Chinese markets, Hong Kong's Hang Seng shed 1.1% to 25,381.85 and the Shanghai Composite index slid 0.4% to 3,591.79. Next week, U.S. Treasury Secretary Scott Bessent has said he will meet with Chinese officials in Stockholm, Sweden, to work toward a deal with Beijing ahead of a tariff truce that expires on Aug. 12. Trump has said a China trip 'is not too distant' as trade tensions ease. 'One big question for markets is whether the tariff ceasefire is extended. We expect that an agreement will be attainable, but, in the interim, markets will watch closely to see if there are adjustments to current tariff rates in either direction,' ING Economics said. In South Korea, the Kospi picked up 0.2% to 3,196.05, while Australia's S&P/ASX 200 shed 0.5% to 8,666.90. Taiwan's Taiex edged less than 0.1% lower, and in India, the Sensex fell 0.8%. On Thursday, the S&P 500 added 0.1% to its all-time high set the day before, closing at 6,363.35. The Dow Jones Industrial Average fell 0.7% to 44,693.91, while the Nasdaq composite rose 0.2% to a record 21,057.96. Alphabet climbed 1% after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget for AI chips and other investments this year by $10 billion to $85 billion. That helped push up other stocks in the AI industry, including a 1.7% rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2% drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the U.S.' Stocks have broadly been rallying for weeks on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. In other dealings on Friday, U.S. benchmark crude oil added 51 cents to $66.54 per barrel. Brent crude, the international standard, rose 48 cents to $68.84 per barrel. The U.S. dollar was nearly unchanged at 147.01 Japanese yen. The euro rose to $1.1759 from $1.1748. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
