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Uganda Expands Oil Exploration to MorotoKadam and Kyoga Basins

The east MorotoKadam Basin and the central Kyoga Basin are the two new areas Uganda is exploring for oil. According to preliminary assessments, the Mo

The east MorotoKadam Basin and the central Kyoga Basin are the two new areas Uganda is exploring for oil. According to preliminary assessments, the MorotoKadam Basin may have economic gas and oil resources. The Ministry of Energy also intends to investigate western Ugandas Hoima Basin. Currently, Ugandas estimated amount of petroleum resources is 6.5 billion barrels. The exploration project intends to boost midstream projects such as the East African Crude Oil Pipeline EACOP, extend output beyond 25 years, and expand petroleum reserves. To accelerate Tanzanias economic growth, TotalEnergies EACOP entails digging 419 wells and building a 1,443kilometer pipeline from Lake Albert to the shore. Read More..

B2B Tech News | 11 months ago        

Adani Group to Sell 2.84% Stake in Ambuja Cements for $500 Million

Reuters reports that Holderind Investments, a division of the Adani Group, is asking $500 million for 2.84% of Ambuja Cements. The sale price, schedul

Reuters reports that Holderind Investments, a division of the Adani Group, is asking $500 million for 2.84% of Ambuja Cements. The sale price, scheduled on Friday, is 600 rupees per share, which is 5% less than the closing price of 631.8 rupees on Thursday. Adani Group owned 70.33% of Ambuja as of June 30, while Holderind owned 50.9% of the cement firm. This deal is part of a larger financial plan since Adani Enterprises is anticipated to start selling $1 billion worth of shares by midSeptember. Read More..

B2B Tech News | 11 months ago        

SoftBank Eyes $684 Million Investment in Sharp for AI Data Center Development

Sharp Corp and SoftBank Corp are reportedly discussing a possible $1004 million $100 billion investment. This information was reported by Kyodo news a

Sharp Corp and SoftBank Corp are reportedly discussing a possible $1004 million $100 billion investment. This information was reported by Kyodo news agency. The investment proposal is a part of more extensive talks about purchasing a part of Sharps Sakai facility to build an AI data centre. The viability of the investment may be impacted by the two firms alleged conflicts about the terms of the agreement. With this move, SoftBank is attempting to increase its footprint in data infrastructure and artificial intelligence. Read More..

B2B Tech News | 11 months ago        

Bank of Singapore Plans to Double Middle East Revenue Contribution to 20%

With this expansion, the Bank of Singapore hopes to increase its share of revenue and private banking assets from 10% to 20% in the Middle East over t

With this expansion, the Bank of Singapore hopes to increase its share of revenue and private banking assets from 10% to 20% in the Middle East over the next three to five years. The bank increased its assets under management from $20 billion in 2010 to $116 billion by September 2023. Favourable government policies and infrastructure are driving wealthy worldwide to the United Arab Emirates and, specifically, to Dubai. Using OCBCs position in Southeast Asia, China, and the United Kingdom, the Bank of Singapore considers turning Dubai into a booking hub. This development is fuelled by the UAEs position as a crossborder centre for money, particularly from Asia and Africa. Read More..

B2B Tech News | 11 months ago        

Senegal Establishes Commission to Review Oil and Gas Contracts with Multinationals

A panel to examine Senegals contracts for oil and gas with international companies was constituted on 19 August by Prime Minister Ousmane Sonko. The t

A panel to examine Senegals contracts for oil and gas with international companies was constituted on 19 August by Prime Minister Ousmane Sonko. The team, which includes legal, tax, and energy specialists, will closely review every legal aspect of the agreements, Sonko said in a national television announcement. Dismissing talk of nationalisation, he reiterated the governments intention to realign the contracts to Senegals benefit. After Senegal started producing oil in June, this development comes after the country began producing gas from the GTA project later this year. Woodside Energys Sangomar field started producing in June. Whether the contracts are altered will depend on the commissions recommendations and possible negotiating results. Read More..

B2B Tech News | 12 months ago        

General Atlantic Sells Entire Stake in PNB Housing Finance for $127 Million

On Wednesday, US private equity company General Atlantic sold its whole 5.1% ownership for 10.69 billion rupees $127.40 million to PNB Housing Finance

On Wednesday, US private equity company General Atlantic sold its whole 5.1% ownership for 10.69 billion rupees $127.40 million to PNB Housing Finance in India. The 13.3 million shares sold were valued at 802.50 rupees apiece, a little less than the 810.90 rupee closing price. PNB Housings stock price rose 10.1% due to the deal. The principal purchasers were Aditya Birla Sun Life Mutual Fund, Fidelity Investments, Goldman Sachs, Morgan Stanley, Nomura, and the Singaporean government. Before selling a 2.2% share in May, General Atlantic had invested in PNB Housing at its 2016 IPO. 2024 has seen a 12% increase in PNB Housings share price. Read More..

B2B Tech News | 12 months ago        

Zoom Ups Annual Revenue Forecast Amid Strong Demand for AI Tools

Because of the increasing popularity of hybrid work models and the strong demand for its AIpowered collaboration products, Zoom Video Communications Z

Because of the increasing popularity of hybrid work models and the strong demand for its AIpowered collaboration products, Zoom Video Communications ZM increased its annual revenue projection on Wednesday. The business raised its earlier revenue estimate for the fiscal year 2025 to between $4.63 billion and $4.64 billion. With secondquarter revenue of $1.16 billion, Zoom beat forecasts and earned $1.39 per share. CFO Kelly Steckelberg will leave the firm following the release of its results for the quarter ended October 31, despite the companys optimistic forecast. Following the news, Zooms stock increased by 3%, indicating that investors were encouraged by the companys potential for continued innovation and expansion. Read More..

B2B Tech News | 12 months ago        

Bank of Korea Holds Interest Rate at 3.50%, Signals Potential Cut in Coming Months

In line with most analysts predictions, the Bank of Korea BOK, the central bank of South Korea, maintained its benchmark interest rate at 3.50% on Thu

In line with most analysts predictions, the Bank of Korea BOK, the central bank of South Korea, maintained its benchmark interest rate at 3.50% on Thursday. Nonetheless, the BOK suggested that a rate decrease may happen soon since four of its seven board members were willing to do so in the next three months. This position reflects worries about the economys sluggish growth despite inflation declining. The BOKs move fits with a more significant worldwide trend of policy easing by central banks. The bank revised its inflation expectation to 2.5% and reduced its growth estimate 2024 to 2.4%. October rate reduction might coincide with those that other major central banks, such as the U.S. Federal Reserve, have planned. Read More..

B2B Tech News | 12 months ago        



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