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G7 fail to reach consensus on phase-out of coal.

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The G7 has been left stranded on coal as the U.S. and  Japan blocked a deal to end the use of coal in the G7 countries.

Following days of negotiations between the world’s richest and most advanced countries, the G7 leaders’ summit in Cornwall, England failed  as the decision to set a date to phase-out the use of coal was blocked by the U.S. and Japan.

White House Press Secretary Jen Psaki stated that they sought “language that aligns with the president’s domestic commitments, including a carbon pollution free power sector by 2035”.

According to an EU official, majority of the G7 members were willing to back the phase-out of coal in the 2030s. But Japan which has changed its views on coal following the Fukushima nuclear accident remains in favor of coal.

Criticism has been targeted at the G7 for their lack of commitment on such critical issues while Russia and China has made commitments to go carbon free. China is set to limit the use of coal starting this year and go carbon neutral by 2060.

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India to develop Maldivian resorts style water villas to boost tourism in India.

Ahmed Thahir

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Indian government has started the construction of water villas similar to those found in Maldivian resorts, to develop tourism in India. These Villas are being built in Lakshadweep archipelago that is of alike to the Maldivians islands.

Three islands selected for the project are Suheli, Kadmat island and Maliku Island. Maliku Island lies adjacent to the northernmost atoll of Maldives and was historically a part of the Maldives. India has decided to spend $10 million on the water villa development project. A total of $ 3.3 million is allocated to build 110 water Villas in Suheli and 3.2 million dollars is allotted for 110 villas in Kadmat. Additionally, 4.2 million dollars is to be spent on the construction of 150 water villas in Maliku.

It is to be noted that this is the first time that India has undertaken such a project.

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Maldives records increase in tourist arrivals.

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After a steep decline in tourist arrivals due to the COVID-19 pandemic, an increase in the number of tourists arriving in Maldives has been observed.

A total of 101,281 tourists have been recorded arriving in the Maldives in July. In March 109,585 tourists have arrived in Maldives. According to the data collected by the Tourism Ministry from 1st of January to 28th of July, a total of 600,252 tourists visited Maldives. This is an 8% increase in the total number of arrivals recorded in 2020. Last year a total of 555,494 tourists visited Maldives.

The highest number of tourists visited have been observed to be from Russia. A total of 140,824 tourist have arrived Maldives, this year. The second most visited nationality is Indians standing at a total of 99,643. The third highest numbers of tourists arrived from Germany, with 33,361 tourists.

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Chinese logistics sector outperforms its pre-pandemic levels.

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Chinese logistics sector has outperformed its pre-pandemic levels according to the latest data.

According to the data, the logistics sector continued to recover and ultimately outperform itself when comparing the first half of 2021 and 2019.  China’s social logistics sector was valued at $23.24 trillion, up by 15.7% year-on-year.

The combined revenue of the logistics sector was reported as 5.7 trillion Yuan for the first half of  2021, 22.8% higher than that of the last year.

It is estimated that the total value of China’s social logistics sector would continue to rise by 9-10% throughout the year as its economy continues to recover from the COVID-19 pandemic.

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