{"id":71954,"date":"2023-07-10T00:00:00","date_gmt":"2023-07-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/10\/indias-central-bank-drafts-measures-to-make-the-inr-a-global-currency-plus-bp-invests-in-methanol-airbus-deliveries-rise-and-lufthansa-cargo-to-receive-fire-proof-containers\/"},"modified":"2023-07-10T00:00:00","modified_gmt":"2023-07-10T00:00:00","slug":"indias-central-bank-drafts-measures-to-make-the-inr-a-global-currency-plus-bp-invests-in-methanol-airbus-deliveries-rise-and-lufthansa-cargo-to-receive-fire-proof-containers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/10\/indias-central-bank-drafts-measures-to-make-the-inr-a-global-currency-plus-bp-invests-in-methanol-airbus-deliveries-rise-and-lufthansa-cargo-to-receive-fire-proof-containers\/","title":{"rendered":"India\u2019s central bank drafts measures to make the INR a global currency. PLUS: BP invests in methanol, Airbus deliveries rise, and Lufthansa Cargo to receive fire-proof containers"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">India\u2019s central bank is drafting measures to make the INR a \u201cglobal currency,\u201d<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/india\/indias-cenbank-working-group-proposes-steps-broaden-rupees-global-reach-2023-07-05\/\" style=\"\">Reuters<\/a><\/span><span> reports<\/span><span>. The Reserve Bank of India\u2019s Inter-Departmental Group (IDG) recommended the opening of INR-denominated accounts for Indian nationals residing abroad, more integration between payment systems in India and those abroad, and allowing<\/span><span> the INR to be an additional settlement currency in multilateral mechanisms like the Asian Clearing Union. <\/span><span>\u201cThe measures for promoting internationalization of the INR would involve steps towards parallelly liberalizing the capital account,<\/span><span> promoting international usage of the INR and strengthening financial markets,\u201d Reuters quotes the IDG as saying. Changes will likely roll out over a two- to five-year timeframe, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303175422\" style=\"\">WAM<\/a><\/span><span style=\"font-weight:400;\"> reported. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">BP is investing USD 10 mn into biofuel startup <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.wastefuel.com\/\" style=\"\">WasteFuel<\/a><\/span><span style=\"font-weight:700\"> to help produce cleaner <\/span><span style=\"font-weight:700\">fuels for shipping<\/span><span>, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bp.com\/en_us\/united-states\/home\/news\/press-releases\/bp-expands-investment-in-bioenergy-collaborating-with-us-biofuels-developer-wastefuel.html\" style=\"\">press release<\/a><\/span><span style=\"font-weight:400;\">. The investment, managed by BP\u2019s venture capital arm BP Ventures, will fund the startup\u2019s efforts to convert municipal and agricultural refuse into biomethanol fuels to power ships. It also allows the startup to advance its plans to develop its first waste-to-bio-methanol plant in the UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This is part of wider plans for BP to decarbonize transport:<\/span><span style=\"font-weight:400;\"> \u201cBP is in action to produce more biofuels, aiming to deliver around 100k barrels-per-day by 2030, to help decarbonize transport,\u201d BP\u2019s vice president of next generation biofuels Philipp Schoelzel said in the statement. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SOUND SMART- <\/span><span>Methanol is a favorite for replacing oil-derived marine fuels and can result in substantial cutbacks to emissions. <\/span><span>The fuel has so far attracted major investments from shipping giants <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/8eb9e80d-3762-4c08-9ca2-2cb945a17daa\" style=\"\">AP Moller-Maersk<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/posts\/cma-cgm_decarbonization-methanol-lng-activity-6938741105152688128-EDjS\/?utm_source=linkedin_share&utm_medium=member_desktop_web\" style=\"\">CMA CGM<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO WORTH KNOWING-<\/span><\/p>\n<ul>\n<li><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.airbus.com\/en\" style=\"\">Airbus<\/a><\/span><span style=\"font-weight:700\"> deliveries increased<\/span><span style=\"font-weight:700\">6% y-o-y<\/span><span style=\"\"> to <\/span><span style=\"font-weight:700\">316 aircraft<\/span><span style=\"font-weight:700\">in 1H 2023<\/span><span style=\"\">, up from 297 <\/span><span>a year prior. The aerospace designer and manufacturer is targeting 720 aircraft deliveries for the year. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/airbus-delivered-316-jets-first-half-sources-2023-07-06\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/lufthansa-cargo.com\/\" style=\"\">Lufthansa Cargo<\/a><\/span><span style=\"\"> will be the first to receive <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.jettainer.com\/\" style=\"\">Jettainer<\/a><\/span><span style=\"\">\u2019s fire-resistant<\/span><span style=\"font-weight:700\">Unit Load Device<\/span><span> (ULDs) containers, which can <\/span><span style=\"font-weight:700\">contain a fire<\/span><span> for up to <\/span><span style=\"font-weight:700\">six hours<\/span><span>. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jettainer.com\/get-in-touch\/news\/details\/certified-fireproof-amx-by-satco\" style=\"\">Press release<\/a><\/span><span>)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s central bank is drafting measures to make the INR a \u201cglobal currency,\u201dReuters reports. The Reserve Bank of India\u2019s Inter-Departmental Group (IDG) recommended the opening of INR-denominated accounts for Indian nationals residing abroad, more integration between payment systems in India and those abroad, and allowing the INR to be an additional settlement currency in multilateral [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":71955,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,17,794,33,651],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-enterprise-logistics","tag-methanol","tag-shipping","tag-startup","wpautop","entry"],"acf":{"mongo_id":"2c7da5c9-b287-49ea-9a65-4b7290779080","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/327.jpg","photo_position":"above","homepage_title":"","full_issue_title":"India\u2019s central bank drafts measures to make the INR a global currency. PLUS: BP invests in methanol, Airbus deliveries rise, and Lufthansa Cargo to receive fire-proof containers","related_issue":[71935],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.5b83e09c-16f3-4b25-8195-841aac70daa0.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>India\u2019s central bank drafts measures to make the INR a global currency. 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