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Iraq’s Fuel Oil Smuggling Network Generates $1 Billion Annually for Iran and Proxies

Iraq has developed a sophisticated fuel oil smuggling network that, since Prime Minister Mohammed Shia alSudani took office in 2022, has generated an

Iraq has developed a sophisticated fuel oil smuggling network that, since Prime Minister Mohammed Shia alSudani took office in 2022, has generated an estimated $1 billion a year for Iran and its supporters. By taking advantage of government regulations that permit asphalt factories to get subsidised fuel oil allocations, this enterprise diverts between 500,000 and 750,000 metric tonnes each month for export, mainly to Asia. To conceal the fuels source, the smuggling network uses fraudulent documents and militias supported by Iran. Even with earlier crackdowns on the trafficking, the illegal activities have become more complicated. Amid Tehrans considerable influence in the region, U.S. officials have voiced concerns about the effect of this smuggling on sanctions and its possible consequences for Iraqi officials. Read More..

B2B Tech News | 21 days ago        

AI Infrastructure Firm Nebius Secures $700 Million to Enhance AI Development Capabilities

On Monday, the AI infrastructure company Nebius Group NBIS.O revealed that it had secured $700 million in a private placement from investors such as A

On Monday, the AI infrastructure company Nebius Group NBIS.O revealed that it had secured $700 million in a private placement from investors such as Accel, Orbis Investments, and Nvidia NVDA.O. Following Yandexs $5.4 billion asset split in July, Nebius wants to improve the infrastructure for AI development. Founded by the former CEO of Yandex, Arkady Volozh, the business aims to speed up the development of cloud platforms and GPU clusters for AI developers. By mid2025, Nebius plans to invest $1 billion and lease data centre space in Kansas City, Missouri. 33,333,334 Class A shares were issued at a premium of 3%, at $21 a share, as part of the private placement. Through this funding, the anticipated yearly revenue rose to between $750 million and $1 billion by 2025. Read More..

B2B Tech News | 21 days ago        

Adani Power Denies Reports of Bangladesh Government Reviewing Power Purchase Agreement

Following a Reuters report indicating that Bangladesh plans to renegotiate the arrangement, Adani Power ADAN.NS said on Monday that it had no indicati

Following a Reuters report indicating that Bangladesh plans to renegotiate the arrangement, Adani Power ADAN.NS said on Monday that it had no indication of the government of Bangladesh revisiting its power purchase agreement. According to the article, the government wants to drastically cut prices under the deal unless a court looking into the 25year contract, which includes electricity supplies from a $2 billion coalfired facility in eastern India, cancels it. A committee was recently established by the High Court to examine this contract. In addition, Adani Power is still providing 700–750 MW of electricity while attempting to collect more than $800 million in unpaid debt from Bangladesh. The business and the Bangladesh Power Development Board are still negotiating over the unpaid invoices. Read More..

B2B Tech News | 21 days ago        

U.N. Calls for Urgent Investment in Land Restoration to Combat Desertification and Drought

Ibrahim Thiaw, the U.N. Executive Secretary for the Convention to Combat Desertification, estimates that by 2030, it will cost $2.6 trillion to restor

Ibrahim Thiaw, the U.N. Executive Secretary for the Convention to Combat Desertification, estimates that by 2030, it will cost $2.6 trillion to restore damaged land and fight desertification. Increased droughts brought on by climate change and a growing world population that necessitate more food production on the currently available land create an urgent need. The private sector, which now provides only 6% of restoration funding, is expected to provide a significant amount of the $1 billion daily investment needed to increase drought resilience and secure finance during a twoweek gathering in Riyadh. Thiaw urges states to establish more ambitious goals and acknowledge the significance of these resources beyond aid for developing countries, emphasising that investment in land restoration is essential for maintaining global stability. Read More..

B2B Tech News | 21 days ago        

South Koreas Export Growth Slows for Fourth Month, Hits 14Month Low in November

In November, South Koreas export growth slowed for the fourth consecutive month and to its lowest level in 14 months. Exports increased 1.4% yearly to

In November, South Koreas export growth slowed for the fourth consecutive month and to its lowest level in 14 months. Exports increased 1.4% yearly to $56.35 billion, less than the 2.8% projection and a 4.6% gain in October. At the same time, exports to China fell by 0.6%, and shipments to the U.S. plummeted by 5.1%, the first drop since July. Due to strikes and shipping delays, automobile exports fell 13.6%, while semiconductor sales grew 30.8%, the smallest growth in 11 months. A 2.4% decrease in imports resulted in a $5.61 billion trade surplus in November, up from $3.15 billion in October. Trade Minister Ahn DukGeun highlighted government initiatives to increase exports by the end of the year. Read More..

B2B Tech News | 21 days ago        

Indonesia and Canada Sign Comprehensive Economic Partnership Agreement to Boost Trade Relations

After three years of talks, Canada and Indonesia signed a Comprehensive Economic Partnership Agreement CEPA in Jakarta on Monday to strengthen the two

After three years of talks, Canada and Indonesia signed a Comprehensive Economic Partnership Agreement CEPA in Jakarta on Monday to strengthen the two G20 countries economic ties. Indonesias trade minister has emphasised the deals significance for both nations green initiatives and investment, focusing on essential minerals management and sustainable growth. The agreement is scheduled to go into force in 2026. Indonesia, abundant in resources like copper, nickel, and bauxite, is looking to draw in foreign investment to process and produce batteries for electric vehicles. Canada and Indonesia had $3.4 billion in twoway commerce last year, with Canada mostly selling fertilisers and agricultural items to Indonesia and Indonesia exporting clothing, footwear, and machinery. Read More..

B2B Tech News | 21 days ago        

Aster DM Healthcare Merges with Quality Care India, Strengthening Healthcare Presence

The announcement of the merger between Blackstonebacked Quality Care India and Indias Aster DM Healthcare significantly strengthens the latters positi

The announcement of the merger between Blackstonebacked Quality Care India and Indias Aster DM Healthcare significantly strengthens the latters position in the healthcare industry. This is Asters first significant acquisition after the sale of its Gulf operations. Combining Qualitys 5,500 beds with Asters current facilities, the new organisation, Aster DM Quality Care, will have over 10,000 beds overall and rank in Indias top three hospital chains, near industry leaders Apollo Hospitals and Manipal Hospitals. An additional 3,500 beds are planned by fiscal year 2027. Asters stockholders will own 57.3% of the new company, with Varun Khanna serving as CEO and Azad Moopen continuing as managing director. Read More..

B2B Tech News | 21 days ago        

RBA Reports Limited Risks from NonBank Lenders Amid Rising Interest Rates

There are currently few dangers from nonbank lenders in the securitisation market, according to the Reserve Bank of Australia RBA. Mortgage arrears ar

There are currently few dangers from nonbank lenders in the securitisation market, according to the Reserve Bank of Australia RBA. Mortgage arrears are manageable because households and companies have been supported by the robust labour market, even in the face of rising interest rates. According to the RBA, the scale of the nonbank lending market and its sparse links to the more extensive financial system reduce possible hazards. Although it is cautious, the central bank believes that the financial sector is resilient. Read More..

B2B Tech News | 21 days ago        



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