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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 | 1 years 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 | 1 years 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 | 1 years 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 | 1 years 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 | 1 years 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 | 1 years ago        

Brazils Central Bank Pledges to Control Inflation Amid Rising Projections

Gabriel Galipolo, the director of monetary policy at the Brazilian central bank, says the bank is dedicated to controlling inflation. Galipolo stresse

Gabriel Galipolo, the director of monetary policy at the Brazilian central bank, says the bank is dedicated to controlling inflation. Galipolo stressed that despite dangers driving inflation over its 3% objective, the central bank—including those nominated by President Lula—is ready to take the required actions, which may include raising interest rates. Amidst global uncertainty and economic shocks, recent inflation forecasts for 2024 have escalated to 4.12%. Amidst severe market volatility and a 13% decline in Brazils actual this year, Galipolo pointed out that Copom is still "datadependent" and hasnt suggested future policy adjustments, underscoring the difficulty of directly connecting currency movements to monetary policy. Read More..

B2B Tech News | 1 years ago        

Ola Electric Mobilitys Shares Surge 10% on Strong Trading Debut

On its first day of trading, Ola Electric Mobilitys shares shot up 10%, valuing the firm at ₹369.45 billion $4.4 billion. With $1.8 billion in bids,

On its first day of trading, Ola Electric Mobilitys shares shot up 10%, valuing the firm at ₹369.45 billion $4.4 billion. With $1.8 billion in bids, the electric car manufacturers $734 million IPO—the biggest in India for 2024—was wellreceived. Even though Ola has a 39% market share and has increased revenues by 90% in India, the company has not yet declared a profit. The business intends to spend roughly $660 million in revenues from the Initial Public Offering IPO for R&D and establishing a battery cell manufacturing facility. By the beginning of 2025, Ola hopes to manufacture its battery cells to increase affordability and profitability. Read More..

B2B Tech News | 1 years ago        



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