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Eskom Reports R55 Billion Loss Amid Restructuring, Eyes Profit by 2025

A onetime charge from splitting its transmission unit was the leading cause of South Africas state utility, Eskom, reporting an R55 billion $3 billion

A onetime charge from splitting its transmission unit was the leading cause of South Africas state utility, Eskom, reporting an R55 billion $3 billion loss for the fiscal year that ended in March 2023. Eskom expects to make more than R10 billion in profit for the fiscal year that ends in March 2025 despite these losses. Under the reform plan of President Cyril Ramaphosa, the utility is being reorganised into three divisions distribution, transmission, and generating. Rising municipal arrears, unsustainable debt, underperforming coal power plants, and insufficient tariffs were blamed for the losses. Nonetheless, revenue for the year ended March 2024 increased by 14% to R295.8 billion. Significantly, Eskoms supply stabilised, with no power outages for nine months, boosting company confidence and laying the groundwork for a rebound. Read More..

B2B Tech News | 1 months ago        

YPF and Shell Seal $50 Billion Deal for Argentina’s LNG Project Development

Shell and Argentinas stateowned oil company, YPF, have inked a deal to build the $50 billion Argentina LNG project to export LNG to important internat

Shell and Argentinas stateowned oil company, YPF, have inked a deal to build the $50 billion Argentina LNG project to export LNG to important international markets. The agreement reached in the Netherlands is Shells first phase of the project, which aims to produce 10 million metric tonnes of LNG annually. Shells involvement was praised by YPF President Horacio Marin, who also emphasised the importance of Shells experience in establishing Argentina as a trustworthy energy provider. While Petronas will continue to develop the La Amarga Chica area in Vaca Muerta, a large unconventional gas and oil reserve, the agreement ends Petronas involvement in the project. Onshore LNG facilities will be built in later stages. Read More..

B2B Tech News | 1 months ago        

SBB Secures 95% Bondholder Acceptance in €2.78 Billion Restructuring Effort

After completing a bond exchange offer valued at €2.78 billion $2.92 billion, Swedish real estate giant SBB is positioning itself for increased flex

After completing a bond exchange offer valued at €2.78 billion $2.92 billion, Swedish real estate giant SBB is positioning itself for increased flexibility in selling properties and lowering total debt. Ninetyfive per cent of the relevant bondholders have approved this reorganisation, which attempts to resolve creditor concerns. The transaction marks a new beginning for longterm partnerships with creditors, CEO Leiv Synnes stressed, lowering liquidity concerns before a lawsuit by bondholders demanding payback. Analysts observe that the exchange boosts SBBs capacity to control liquidity and reduce default risks, which leads to a 22% gain in the companys share price. To improve operations and minimise leverage after a difficult market time, SBB intends to restructure further. Read More..

B2B Tech News | 1 months ago        

Biden Administration Set to Revise Export Controls, Boost U.S.India Space Cooperation

To improve collaboration between Indian and American enterprises in the space industry, the departing Biden administration is completing a national se

To improve collaboration between Indian and American enterprises in the space industry, the departing Biden administration is completing a national security memorandum to amend U.S. export control procedures under the Missile Technology Control Regime MTCR. Lowering obstacles for American businesses doing business with Indian companies is the goal of the upgrade. Indian astronauts and U.S. officials recently discussed essential developments in both countries space programs at NASAs Johnson Space Centre. Significant projects include a collaborative satellite effort to monitor Earth and the Initiative on Critical and Emerging Technologies ICET. In keeping with their growing collaboration in space exploration and national security, both nations also hope to send Indian astronauts on their subsequent missions. Read More..

B2B Tech News | 1 months ago        

Dealmaker Optimism 2025 Could See Record Global M&A Volumes Amid Regulatory Easing

Top dealmakers predict that U.S. Presidentelect Donald Trumps probusiness policies, such as reduced corporate taxes and less regulation, will propel w

Top dealmakers predict that U.S. Presidentelect Donald Trumps probusiness policies, such as reduced corporate taxes and less regulation, will propel worldwide mergers and acquisitions M&A to surpass $4 trillion in 2025, the most significant amount in four years. Kirkland & Ellis M&A partner Daniel Wolf voiced worries about erratic elements like tariff fights impacting deal economics. "Antitrust enforcement is likely to be more lenient, creating a favourable environment for M&A," Jay Hofmann of JPMorgan said. Deutsche Banks Alison HardingJones anticipates more crossborder transactions as inflation stabilises and interest rates drop. According to analysts, a thriving M&A environment is expected in the future, and they also forecast an increase in takeprivate deals and a focus on strategic regional changes among firms. Read More..

B2B Tech News | 1 months ago        

Bank of Japan Holds ShortTerm Policy Rate at 0.25% Amid Economic Uncertainties

The Bank of Japan BOJ took a cautious stance in the face of uncertainty surrounding the economic intentions of U.S. Presidentelect Donald Trump by vot

The Bank of Japan BOJ took a cautious stance in the face of uncertainty surrounding the economic intentions of U.S. Presidentelect Donald Trump by voting 81 to keep its shortterm policy rate at 0.25%. Dissident member Naoki Tamura suggested raising rates to 0.5% because of growing inflationary threats nonetheless, his proposal was turned down. Following the U.S. Federal Reserves rate drop and cautious softening stance for the coming year, which affected international financial markets, the decision to maintain rates was made. About the dollar, the yen dropped to a onemonth low of 155.28. A possible rate hike in early 2025 is something that many analysts expect, especially as the BOJ keeps an eye on inflation brought on by the dropping yen and the general economic improvement. Read More..

B2B Tech News | 1 months ago        

Union Minister Pralhad Joshi Reports 14% Increase in India’s NonFossil Fuel Capacity

Pralhad Joshi, the Union Minister for New & Renewable Energy, stated that between April and November 2024, Indias renewable energy capacity nearly dou

Pralhad Joshi, the Union Minister for New & Renewable Energy, stated that between April and November 2024, Indias renewable energy capacity nearly doubled to 15 GW. He said that Indias installed nonfossil fuel capacity has increased by 14% to 214 GW during his remarks at the CII International Energy Conference & Exhibition. By 2030, the government wants to have 500 GW of nonfossil fuelbased power capacity, Joshi reiterated. Important programs include the PM Surya Ghar Muft Bijli Yojana for solar rooftops, the PLI scheme to increase domestic solar panel manufacture, and the National Green Hydrogen Mission assistance. To meet future energy demands, industry experts stressed the necessity of bettering the infrastructure and DISCOMs financial standing. Read More..

B2B Tech News | 1 months ago        

UKIndia Business Ties Surge Payments from India to UK Clients Up 121% in 2024

According to data from HSBC UK, business activity between the UK and India has grown dramatically in 2024, with payments received by UK clients from I

According to data from HSBC UK, business activity between the UK and India has grown dramatically in 2024, with payments received by UK clients from India increasing by 121%. HSBC UK business clients payments to India increased by 32% in the nine months ending in October 2024, while the bank recorded a 36% yearoveryear rise in new business client referrals from HSBC India. India offers UK companies a lot of chances because of its sizable and expanding middle class and its status as a location for Global Capability Centres, according to Cora McLaren, Head of International Subsidiary Banking at HSBC UK. In 2025, both nations will begin negotiating a Free Trade Agreement, which should increase trade worth GBP 42 billion a year. Read More..

B2B Tech News | 1 months ago        



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