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South Sudan Oil Pipeline Rupture Deepens Economic Crisis and Unpaid Salaries

South Sudans economic problems worsened when a vital oil pipeline burst, leaving security personnel and government employees underpaid for nine months

South Sudans economic problems worsened when a vital oil pipeline burst, leaving security personnel and government employees underpaid for nine months. The protracted violence caused damage to the pipeline, which is crucial for oil shipments via Sudan and, worsened income deficits and exposed government inefficiency. Due to pay delays, there have been protests in Juba, and many people have taken up side employment. The local currency has crumbled, and inflation has skyrocketed to 35 per cent. President Salva Kiir has called for reforms and attacked how corruption and nonoil earnings are handled. Despite limited foreign assistance, the nation has extreme poverty and dislocation, notably a $46.2 million agricultural support agreement. Public dissatisfaction is rising as a result of poor administration and delayed elections. Read More..

B2B Tech News | 24 days ago        

Shell and PetroChina Announce Major Expansion of Surat Coal Seam Gas Project in Queensland

Australias Surat coal seam gas project is set to expand, according to a joint announcement by Shell and PetroChina. With a second phase of development

Australias Surat coal seam gas project is set to expand, according to a joint announcement by Shell and PetroChina. With a second phase of development planned to provide approximately 130 terajoules of petrol per day to the market, this decision was taken amid mounting requests for additional local energy investment. Approximately 22,400 barrels of oil equivalent per day are anticipated to be produced at peak production levels from the development by 2026. As more significant investments are called for to address supply constraints and excessive prices, Australias energy market operator and competition watchdog have made this step. With the second phase aimed at improving gas supply for families, companies and industries, the SGP has been running since 2020 and is run by Arrow Energy, a joint venture between Shell and PetroChina. Read More..

B2B Tech News | 24 days ago        

Hindenburg Research Accuses SEBI Chief Madhabi Puri Buch of Offshore Investments Linked to Adani Group

According to recent claims by Hindenburg Research, Madhabi Puri Buch, the head of Indias Securities and Exchange Board of India SEBI, has stakes in of

According to recent claims by Hindenburg Research, Madhabi Puri Buch, the head of Indias Securities and Exchange Board of India SEBI, has stakes in offshore funds connected to the Adani Group. Buch refuted the allegations, saying that her investments in 2015—before joining SEBI—complied with all disclosure regulations. The Hindenburg research has reignited interest in the Adani Group after its January 2023 disclosures of purported tax haven abuse and stock manipulation by the company, which resulted in a substantial selloff of its shares. The Adani Group has stressed their transparency while rejecting the accusations as unfounded. In the meantime, Indias opposition parties are requesting a parliamentary probe into the issue. Read More..

B2B Tech News | 24 days ago        

RBA Maintains Interest Rates Amid Economic Uncertainty and Persistent Inflation

Because economic projections are unpredictable, Australias central bank has decided to stick with the current interest rate strategy. The persistence

Because economic projections are unpredictable, Australias central bank has decided to stick with the current interest rate strategy. The persistence of inflation, as noted by Reserve Bank of Australia RBA Deputy Governor Andrew Hauser, is partially attributable to the economys lowerthanexpected spare capacity. According to the RBAs most recent predictions, core inflation, which was 3.9% in the June quarter, may not reach the target range of 23% by the end of 2025. Hauser pointed out that there was a great deal of uncertainty in these projections and advised care when using them. The markets are now expecting possible rate cuts by years end. The RBA has maintained the cash rate at 4.35% since November instead of waiting for further evidence before making any adjustments. Read More..

B2B Tech News | 24 days ago        

Vietnam Announces Plan to Cut Electricity Costs for Electric Vehicle Charging Stations

Vietnam intends to fulfil its 2050 carbon neutrality target and encourage the use of electric vehicles EVs by subsidising the cost of power for EV cha

Vietnam intends to fulfil its 2050 carbon neutrality target and encourage the use of electric vehicles EVs by subsidising the cost of power for EV charging stations. The goal of the subsidy proposal is to support the green energy transition and is scheduled to be submitted to the central government by midSeptember. Presently operating approximately 150,000 EV charging connections, largely under VinFasts management, is Vietnam, home of EV maker VinFast. Incentives for EV manufacturing and imports are also planned by the government, which will endeavour to guarantee public charging infrastructure in all cities and publish a single set of technical guidelines by the end of the month. Read More..

B2B Tech News | 24 days ago        

Saudi Aramco to Acquire 22.5% Stake in Petro Rabigh for $702 Million

For $702 million, Saudi Aramco will purchase a 22.5% share in Petro Rabigh from Sumitomo Chemical of Japan. Both businesses will also waive $1.5 billi

For $702 million, Saudi Aramco will purchase a 22.5% share in Petro Rabigh from Sumitomo Chemical of Japan. Both businesses will also waive $1.5 billion in debts for the company. This action is a part of Petro Rabighs turnaround strategy by June, the company had lost 53% of its share capital. When the acquisition closes, Aramco will own 60% of Petro Rabigh, while Sumitomo Chemical will own 15%. The transaction aligns with Sumitomo Chemicals transition to speciality chemicals and Aramcos plan to grow in refining. Although Sumitomo expects to record a pretax loss of $183 million this quarter, the company is optimistic about its projected yearly profit. Read More..

B2B Tech News | 26 days ago        

BHP Considers Selling Brazilian Copper and Gold Assets Acquired from Oz Minerals

As to Bloomberg News, BHP Group is contemplating the sale of its gold and copper holdings in Brazil, which it obtained by acquiring Oz Minerals." Abou

As to Bloomberg News, BHP Group is contemplating the sale of its gold and copper holdings in Brazil, which it obtained by acquiring Oz Minerals." About the possible sale, the top miner in the world has recruited Banco Santander as an advisor. Recently, BHP pulled out of negotiations to buy Anglo American, a British miner. Though the business does not intend to sell its share in Samarco Mineracao, an iron ore production that it jointly owns with Vale, according to BHPs Brazil manager, the company is presently concentrating on assessing the sale of its Brazilian properties. Expanding BHPs access to essential resources for renewable energy and electric cars was the goal of the A$9.6 billion acquisition of Oz Minerals in May 2023. Read More..

B2B Tech News | 26 days ago        

China’s MingYang and Italy’s Renexia Forge €500 Million Wind Turbine Plant Deal

A €500 million deal to build a wind turbine manufacturing facility in Italy was inked by Italys industry ministry, Chinas MingYang Smart Energy, and

A €500 million deal to build a wind turbine manufacturing facility in Italy was inked by Italys industry ministry, Chinas MingYang Smart Energy, and the Italian company Renexia. Enhancing local manufacturing and maintaining competitiveness in the renewable energy industry are the goals of this action. An Italian photovoltaic business and a Chinese manufacturer of solar panel components recently formed a partnership, which led to the current arrangement. With up to 1,100 jobs anticipated, the new factory will assist in sustaining European manufacturing competence while addressing the difficulty of importing giant turbines from China. A recent visit to China by Italian Prime Minister Giorgia Meloni highlights attempts to expand trade and collaboration beyond the Belt and Road Initiative. Read More..

B2B Tech News | 26 days ago        



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