Latest news with #Fame
Irish Times
a day ago
- Business
- Irish Times
Irish biofuel sales fall even as demand rises
Sales of Irish-made green transport fuel tumbled last year, despite sharp rises in consumption spurred by a Government scheme, figures show. Suppliers must blend biofuel with diesel and petrol sold to motorists under the Government's Renewable Transport Fuels Obligation, meant to aid the State's efforts to cut greenhouse gas emissions. Figures from Government bod, the National Oil Reserves Agency (NORA) show that the amount of Irish-made biofuel used here last year tumbled 21 per cent to 46 million litres from 58 million litres, despite overall consumption rising by 20 per cent. Confirming those numbers, the Department of Transport pointed out that the 'volume of biofuels sourced from Ireland has more than doubled in the period 2017 to 2024″. READ MORE A spokeswoman added that this was consistent with the overall growth in biofuel use here over that time. Industry sources say that the profits from the type of biofuel mostly produced here, fatty acid methyl ester (Fame) 'have plummeted' in recent years in the face of competition from other fuels, including hydrogenated vegetable oil (HVO). Those sources maintain that the problem is widespread in Europe. They also point out that the fall in sales indicates that the waste, mostly animal fat, used to produce Fame, is not being collected here. The Government is considering the 'need to support and develop Irish production of biofuel and biogas' in its latest renewable transport fuel policy, which runs for the next two years, according to the department's spokeswoman. The policy, published this week, commits the Government to reviewing incentives to promote the use of different types of biofuel, including how that could contribute to the development of Irish products. Irish and European producers have been warning for several years that biofuel imports from different countries, mostly in southeast Asia, are fraudulently labelled as coming from waste. A key concern is that many of them are made from virgin palm oil, which the European Union does not regard as sustainable biofuel as its production requires the destruction of native forest, or other raw materials that do not qualify under European rules. Industry figures point out that the most recent figures show that about a third of the 450 million litres of biofuel used here in 2024 came from countries where the risk of fraud is high, mostly China, Indonesia and Malaysia. Germany is considering banning biofuels made in factories outside the EU where government on-site inspections are not possible. The department's spokeswoman pointed out that the EU Renewable Energy Directive required all biofuel imports to the bloc, including to the Republic, to meet the same strict sustainability standards imposed by the union on its own producers. According to the department, the NORA is responsible for ensuring that biofuel sold here meets sustainability and greenhouse gas emission reductions obligations set out in the directive and the Government's Renewable Transport Fuels Obligation. The Government's latest policy reduces, but does not eliminate, incentives for some classes of renewable fuels said to be most vulnerable to fraud.
GMA Network
a day ago
- Sport
- GMA Network
GM: Jason Kidd returning to coach Mavericks next season
Dec 31, 2021; Sacramento, California, USA; Dallas Mavericks head coach Jason Kidd reacts to a play during the second quarter at Golden 1 Center. Sergio Estrada-USA TODAY Sports Jason Kidd will be No. 1 draft pick Cooper Flagg's first NBA coach. That's what Mavericks general manager Nico Harrison told reporters Wednesday night after Dallas selected the Duke star in the draft. There have been rumblings that Kidd wants to pursue the head coaching job with the New York Knicks, even though the Mavericks denied the team's interest in interviewing him. "Are there rumors still out there about J-Kidd?" Harrison said. "I thought I shut them down. Yes, he will be the coach next year." The Knicks fired head coach Tom Thibodeau on June 3 and have been rebuffed by the Mavericks and at least four other teams in efforts to interview their head coaches. Kidd, 52, has two years remaining on his contract with the Mavericks. He has been Dallas' head coach since the 2021-22 season and has a 179-149 record. He led the team to the NBA Finals in the 2023-24 season, losing in five games to the Boston Celtics. The Mavericks, amid upheaval following the trade of Luka Doncic to the Los Angeles Lakers, did not make the playoffs in the recently ended season, finishing 39-43. Flagg told ESPN he already has started to build a rapport with the Hall of Fame member. "I think he has a lot of confidence in me to just come in and be an impact player," Flagg told ESPN. "He's going to let me have the ball a little, I think, and just try to rock out and do what I can do." Kidd also has been the head coach of the Brooklyn Nets (2013-14) and Milwaukee Bucks (2014-18). --Field Level Media/Reuters
Miami Herald
a day ago
- Sport
- Miami Herald
GM: Jason Kidd returning to coach Mavericks next season
Jason Kidd will be No. 1 draft pick Cooper Flagg's first NBA coach. That's what Mavericks general manager Nico Harrison told reporters Wednesday night after Dallas selected the Duke star in the draft. There have been rumblings that Kidd wants to pursue the head coaching job with the New York Knicks, even though the Mavericks denied the team's interest in interviewing him. "Are there rumors still out there about J-Kidd?" Harrison said. "I thought I shut them down. Yes, he will be the coach next year." The Knicks fired head coach Tom Thibodeau on June 3 and have been rebuffed by the Mavericks and at least four other teams in efforts to interview their head coaches. Kidd, 52, has two years remaining on his contract with the Mavericks. He has been Dallas' head coach since the 2021-22 season and has a 179-149 record. He led the team to the NBA Finals in the 2023-24 season, losing in five games to the Boston Celtics. The Mavericks, amid upheaval following the trade of Luka Doncic to the Los Angeles Lakers, did not make the playoffs in the recently ended season, finishing 39-43. Flagg told ESPN he already has started to build a rapport with the Hall of Fame member. "I think he has a lot of confidence in me to just come in and be an impact player," Flagg told ESPN. "He's going to let me have the ball a little, I think, and just try to rock out and do what I can do." Kidd also has been the head coach of the Brooklyn Nets (2013-14) and Milwaukee Bucks (2014-18). --Field Level Media Field Level Media 2023 - All Rights Reserved
Mint
5 days ago
- Automotive
- Mint
Keep off that brake pedal: India's EV transition has no time to lose
Electric vehicles (EVs) on Indian roads breached the 6.5 million mark in May 2025. With over 2 million EVs sold in 2024 and rising adoption across two-wheelers, three-wheelers and public transport, the groundwork is firmly in place, and we are ready for take-off. The stellar progress so far has been made possible by a forward-looking and purposeful policy push, starting from Faster Adoption and Manufacturing of Electric Vehicles (Fame) to the recent PM E-Drive and scheme for making electric passenger cars in India. There are several ongoing interventions and initiatives to address rampant bottlenecks in financing, credit mechanisms, charging networks and the battery value chain. So far, the government has spent more than ₹40,000 crore on incentives, which in turn has led India to a 7.8% share of EVs in annual vehicle sales. Also Read: Mint Quick Edit | India's EV bait: Who'll bite? We now need a well-calibrated push for large-scale adoption of EVs across India's cities, both big and small, without digressing from the national EV agenda; we must not risk derailing the impressive progress we have made thus far. The government has spent enormous funds to incentivize the automobile industry and battery ecosystem while taking decisive measures to localize manufacturing, ensure domestic value addition and enhance the uptake of the production-linked incentive scheme. While incentives and subsidies played a key role in market development, the path ahead requires setting up long-term expectations and visibility that can step up the momentum. The rapid addition of renewable energy to green India's power grid presents a unique opportunity to create a zero-emission value chain, from power generation to transportation. Globally, markets are moving decisively towards zero-emission vehicles (ZEVs), with strong policy signals to accelerate EV adoption. India must craft tailored strategies for different vehicle segments, given varying levels of market maturity. Clear market and regulatory signals are necessary to unlock long-term investment, reduce risk for manufacturers and financiers. This calls for a decisive shift: from incentives and subsidies to clear mandates, regulatory confidence and long-term innovative solutions contextualised for the Indian market. Also Read: Rare earths: China is choking its own prospects of leadership Holistic development of the battery ecosystem: To scale up EV adoption across modes and geographies, it is crucial to develop battery standards aligned with global benchmarks, besides creating a robust framework for data sharing grounded in the core objectives of safety, sustainability, resource efficiency and circularity. A nodal agency should be set up to ensure compliance, streamline mechanisms for data storage and explore business models for viability. This can aid end-of-life battery management, thereby reinforcing a circular economy. Create a circular and accountable ecosystem: To ensure a thriving battery circularity ecosystem, we must ensure that the Extended Producer Responsibility (EPR) portal is enabled with an audit function. Further, third-party validation should be encouraged for producer declarations. The responsibility for old-battery collection should be borne by both recyclers and producers, with unrestricted movement allowed between states. Finally, EPR pricing should be designed to suit different battery chemistries. Also Read: Cold War II alert: Rare earths could tilt the global balance of power Capture battery data for resource efficiency: To streamline the battery value chain and create a resilient and circular ecosystem, the government's department of science and technology recently unveiled a strategic pilot initiative: Battery Aadhaar, a unique digital battery ID to enable tracking of lifecycle data to support circularity, resource efficiency and regulatory compliance. This is a breakthrough for energy storage as it strengthens our resolve to couple economic and sustainable development as we strive to become a net-zero economy by 2070. As our energy transition intensifies, we must also prioritize support for R&D and homegrown startups to explore indigenous technologies and help create a recycling market. We also need more collaborative platforms like the Battery 360 Alliance, which can assess ecosystem readiness and facilitate better decision-making by all stakeholders. Introduce EV mandates: At this critical juncture of India's EV transition, we also need new nudges towards EVs. We can begin with low-level mandates that could be progressively scaled up. Globally, countries with robust EV adoption have used varied supply-side norms to send market signals. India can chart its own course by using phased and locally adapted mandates for manufacturers and operators. Also Read: China risks overplaying its hand by curbing rare earth exports Implement Café norms: We must implement the tightened Corporate Average Fuel Efficiency (Café) norms while tapering off the super credits provided to manufacturers in non-EV segments. These regulations also serve as motivators for manufacturers to invest more in innovation and accelerate economies of scale to bring down costs, helping the EV industry reach a tipping point. The scope of Café norms must be thoughtfully extended beyond just 4-wheelers to cover all major vehicle segments (especially commercial vehicles like trucks), given their emissions and substantial share in India's mobility ecosystem. These regulations will accelerate the adoption of EVs and further push the development of a domestic market, which could create green livelihood opportunities for millions. Expand charging infrastructure to underserved areas: India suffers from an uneven charging infrastructure distribution, with operators opting for high-traffic, commercially attractive zones, leaving low-demand or peri-urban areas underserved. For EVs to become the new normal in India's Tier 1 and 2 cities, we need corridor-level planning, not just a focus on wide distribution. We must establish a nodal agency that can create cross-subsidization opportunities for a balanced infrastructure rollout that offers equitable charging-point access. At the sub-national level, it will help to enhance the transparency and accountability of urban local bodies to strengthen and streamline frameworks for efficient service delivery through mechanisms like single-window clearances. Also Read: Electric three-wheelers and e-rickshaws could soon be rated like cars. Here's why it matters By integrating these strategic shifts in our short-, medium- and long-term roadmap, India will not only pave the way for a cleaner future, but also solidify its role as a global economic powerhouse while inching closer to its vision of Viksit Bharat by 2047 with a $30 trillion economy. These are the authors' personal views. The authors are, respectively, G20 Sherpa, India; and executive director, Integrated Transport, Clean Air and Hydrogen, WRI India.
RTÉ News
19-06-2025
- Business
- RTÉ News
Chelsea co-owner Mark Walter to buy LA Lakers in record $10bn deal
The Buss family is entering an agreement to sell a majority stake in the Los Angeles Lakers, marking the end of an era for one of the NBA's most influential owners. Mark Walter, the CEO and chairman of holding company TWG Global, is set to take the majority ownership under the agreement which values the Lakers at $10 billion (€8.7 billion), ESPN reported, making it the largest ever sale of a professional sports team. Walter is the co-owner of Premier League club Chelsea. The Boston Celtics had become the latest NBA franchise to change ownership in March, closing a $6.05 billion (€5.25 billion) sale to an investment group led by Bill Chisholm, a record figure for the league at the time. Walter, already an established figure in Los Angeles sports, has existing shares in MLB team Los Angeles Dodgers and WNBA franchise Los Angeles Sparks. The Lakers did not immediately respond to a request for comment. The late Jerry Buss purchased the Lakers in 1979 and turned it into one of the most popular franchises in all of professional sports, winning five championships during their now-iconic 'Showtime' era in the 1980s. His daughter, Jeanie Buss, took over as principal owner after Jerry died in 2013, making her one of the most powerful women in sports. Jeanie Buss will stay on as governor after the sale, according to the ESPN report. Lakers Hall of Fame point guard Earvin 'Magic' Johnson - a former player, coach, and executive with the team during the Buss family's tenure - congratulated both parties on reaching the agreement. "Laker fans should be ecstatic. A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way," Johnson, who is also a co-owner of the Dodgers alongside Walter, said in a post on X. "He will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike. "Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning... Mark Walter is the best choice and will be the best caretaker of the Laker brand."
