Paraguay Central Bank Holds Interest Rate at 5.5% Amid Slowing Growth 
Gold Prices Drop Amid Inflation Fears and U.S.-Iran Escalation 
Apple Defies China's Smartphone Slump with Strong Early 2026 Sales 
Israel Defies Trump's Warning, Launches New Strikes on Iran Amid Growing Global Energy Crisis 
U.S. Stock Futures Steady as Wall Street Retreats on Oil Volatility and Fed Rate Outlook 
EA's $15B Debt Offering Draws $25B in Investor Demand Amid Credit Market Turmoil 
Palantir's Maven AI Earns Pentagon "Program of Record" Status, Reshaping Military AI Strategy 
China Holds Benchmark Loan Prime Rate Steady for Tenth Consecutive Month 
Asian Markets Mixed as Oil Volatility and Inflation Fears Weigh on Sentiment 
FEMSA Cuts Jobs at Spin Fintech Unit, Refocuses Strategy on Oxxo Stores 
FCC Approves $3.54B Nexstar-Tegna Merger, Waiving Broadcast Ownership Cap 
Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks 
Super Micro Computer Shares Plunge After Co-Founder Charged in AI Chip Smuggling Case 
Dollar Weakens as Middle East War Reshapes Global Rate Expectations 
Oil Prices Surge Amid Trump's Iran Ultimatum Over Strait of Hormuz 
Micron Technology Beats Q2 Earnings Estimates, Issues Strong AI-Driven Outlook 
Jeff Bezos Eyes $100 Billion Fund to Transform Manufacturing With AI 
Samsung C&T Corp. will be building a solar power plant in Qatar under a $595.2 million or about KRW800 billion deal. The South Korean construction and engineering company is expected to complete the construction by November 2024.
According to The Korea Economic Daily, once the solar power facility is finished, it is will have a total capacity of 875 megawatts. The project will help the country diversify its energy resources, and Samsung C&T will also be able to expand its future environmentally-friendly businesses.
It was on Wednesday this week when the construction arm of the Samsung Group revealed it had signed a deal for engineering, procurement and construction (EPC) works with Qatar Energy, a state-run company that was formerly called Qatar Petroleum. They will be working for the country’s industrial cities’ solar power project (IC Solar).
The project also includes the launch of two photovoltaic solar power plants that will offer a total capacity of 875 MW. Samsung C&T is set to construct one facility that will be capable of generating 417 megawatts of power in Mesaieed Industrial City which is located around 40 kilometers in the southern part of Doha. The other plant will have a capacity of 458 megawatts, and this will rise in Ras Laffan Industrial City which is located 80 kilometers north of the capital.
“This IC Solar project is a major step in the implementation of our strategy to diversify Qatar’s energy resources and to increase the reliance on high-efficiency renewable energy, which is a cornerstone for a sustainable future,” Qatar Energy president and chief executive officer, Saad Sherida Al-Kaabi, said in a statement. The company chief is also the country’s Minister of State for Energy.
In any case, an official of Samsung C&T also commented about the solar power project saying, “We are strengthening portfolios in the eco-friendly future businesses including renewable energy generation, green hydrogen and ammonia, as well as small module reactors (SMRs). He added that starting with its solar power deal in Qatar, the company will apply the results to its new businesses.
