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Qatar Airways Set to Acquire 25% Stake in Virgin Australia, Boosting Competition with Qantas

To upend Qantas Airways QAN.AX in the Australian market, Qatar Airways plans to purchase a 25% share in Virgin Australia from American private equity

To upend Qantas Airways QAN.AX in the Australian market, Qatar Airways plans to purchase a 25% share in Virgin Australia from American private equity company Bain Capital. The Australian government, which has previously refused Qatar more flying rights to critical cities like Sydney and Melbourne, must approve the contract, the financial specifics of which are still unknown. Jayne Hrdlicka, CEO of Virgin Australia, underlined that by gaining access to Qatars size and experience, this alliance will strengthen the airlines competitive edge. Qantas shares dropped 4.3% after the announcement. With regulatory permission, Virgin Australia intends to launch flights to Doha by the middle of 2025 from vital Australian cities. In addition, Cathay Pacific and the parent business of British Airways are owned by Qatar Airways. Read More..

B2B Tech News | 1 years ago        

Nio Partners with UK Startup Monolith to Revolutionize EV Battery Packs in Europe

To improve electric car battery packs throughout Europe, Nio and UKbased AI software firm Monolith have established a collaboration. With intentions t

To improve electric car battery packs throughout Europe, Nio and UKbased AI software firm Monolith have established a collaboration. With intentions to extend to China and enable interaction with other Chinese manufacturers, the partnership intends to start testing in five European markets. Monolith focuses on battery development and uses machine learning algorithms to close the gap between Western automakers and their Chinese rivals. Monolith works with leading manufacturers such as MercedesBenz, BMW, and Honda. With only a few minutes, consumers may evaluate the performance and endurance of batteries in realtime by using Nios unique batteryswapping service. With the help of investors like Pentech and Insight Partners, Monolith has raised about $22 million in capital. Read More..

B2B Tech News | 1 years ago        

Stellantis Lowers Annual Guidance Amid Intensified Competition from Chinese EV Makers

Stellantis NV has downgraded its yearly outlook, citing deteriorating global industry circumstances and heightened competition from Chinese electric v

Stellantis NV has downgraded its yearly outlook, citing deteriorating global industry circumstances and heightened competition from Chinese electric vehicle producers for the modification. The FrenchItalian automaker expects fewer sales in most regions during the years second half. After being initially predicted to be positive, its industrial free cash flow is now expected to be between 5 billion and 10 billion euros, a considerable decrease. In addition, Stellantis has lowered its profit margin estimate from double digits to a range between 5.5% and 7.0%. The organization intends to intensify its efforts to address performancerelated concerns in North America. This came after VW issued similar profit warnings, which increased scrutiny of the European auto industry. Read More..

B2B Tech News | 1 years ago        

TotalEnergies Expands U.S. Natural Gas Footprint with 45% Stake Acquisition in Eagle Ford Basin

An increasing alliance between nonbank lenders and traditional banks within the $2 trillion private credit industry is indicated by Citigroup and Apol

An increasing alliance between nonbank lenders and traditional banks within the $2 trillion private credit industry is indicated by Citigroup and Apollo Globals announcement of a $25 billion program for direct lending and private credit. Mubadala Investment Company of Abu Dhabi and Apollos Athene division will also be involved in the program. This initiative comes when funding sources for firms considering significant buyouts are finding private credit—which lends to riskier borrowers without subjecting them to the strict controls that banks do—to be more and more critical. Previously perceived as a rival to banks, private credit companies are now more likely to collaborate with them, taking advantage of their client networks while lowering risk. First, North America will be the primary focus, with the possibility of expanding globally. Read More..

B2B Tech News | 1 years ago        

UBS Explores Joint Venture with 360 One WAM to Tap into India’s Growing Wealth Management Market

In an effort to reach more highnetworth individuals HNWIs in India, UBS and Mumbaibased 360 One WAM are in talks to form a joint venture in the wealth

In an effort to reach more highnetworth individuals HNWIs in India, UBS and Mumbaibased 360 One WAM are in talks to form a joint venture in the wealth management industry. With a current concentration on ultrahighnetworth people, this partnership highlights the potential for expansion in Indias wealth management industry, which is estimated to reach $429.1 billion in 2023 and increase at a compound annual growth rate of 4.6% between 2025 and 2029. UBS wants to buy up to a 26% share in the new business. As of June, the company had $4 trillion in assets invested globally. Although initial discussions have occurred, UBS has not made a choice regarding its partner. After a prior agreement in Japan, this venture would be UBSs second equity partnership in the AsiaPacific area. Read More..

B2B Tech News | 1 years ago        

Diriyah GigaProject Secures Nearly $1 Billion in Deals with European Firms Amid Foreign Investment Surge

According to its CEO, Jerry Inzerillo, Diriyah, one of Saudi Arabias significant gigaprojects, has closed about $1 billion in transactions with Europe

According to its CEO, Jerry Inzerillo, Diriyah, one of Saudi Arabias significant gigaprojects, has closed about $1 billion in transactions with European companies and aggressively seeks more foreign investment. Located close to Riyadh at a UNESCO World Heritage site, this $63 billion project is a part of the Public Investment Funds PIF efforts to diversify the oildependent economy. With plans to invest another 12 billion riyals in 2023, the PIF has already committed almost 20 billion riyals $5.33 billion to Diriyah in 2023 and 2024. Inzerillo indicated ongoing discussions with several foreign investors interested in equity positions in real estate projects. Despite past scepticism regarding Saudi Arabias ambitious economic transformation, there is a notable surge in foreign investment interest as projects like Diriyah become tangible realities. Read More..

B2B Tech News | 1 years ago        

Reliance Power Considers Stake Sales and Fundraising as Part of Renewable Energy Expansion

Reliance Power, an Indian company, stated on Friday that as part of its corporate expansion strategy, it may look into raising capital, possibly by se

Reliance Power, an Indian company, stated on Friday that as part of its corporate expansion strategy, it may look into raising capital, possibly by selling stakes to institutional investors. At its board meeting on October 3, the electric utility firm will assess other funding possibilities, including equity sales and foreign currency convertible bonds. This action comes after the business was permitted to raise $183 million, or 15.25 billion rupees, through preferential allotment. Reliance Power wants to raise money to finance its shift into the renewable energy industry. The Navi Mumbaibased company recently stated that it has settled debts of 38.72 billion rupees, meaning it has no bank debt. A $3 million punishment and a fiveyear securities market ban await Reliance Group chairman Anil Ambani about financial diversion allegations. Read More..

B2B Tech News | 1 years ago        

The Bahamas Faces Financial Crisis Prime Minister Calls for Global Climate Finance and Fossil Fuel Accountability

According to Prime Minister Philip Davis, the Bahamas is experiencing a financial crisis brought on by bureaucratic obstacles and climate change. The

According to Prime Minister Philip Davis, the Bahamas is experiencing a financial crisis brought on by bureaucratic obstacles and climate change. The country struggles to recover from natural catastrophes like Hurricane Dorian, which caused $3.4 billion in damages in 2019. With approximately $10 billion in debt and yearly earnings of only $2.8 billion to $2.9 billion. Leaders want richer countries and fossil fuel companies to provide more climate funding. They support a "polluters pay" system in which significant companies donate a portion of their income to help developing nations. Underscoring the existential threats small island nations face from rising sea levels and severe storms, Davis plans to use legal action to demand donations from oil giants. Read More..

B2B Tech News | 1 years ago        



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