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Vedanta Ltd Announces $6 Billion Investment Plan Across Business Ventures

To increase yearly EBITDA by at least $2.5 billion, Vedanta Ltd. intends to invest $6 billion throughout its companies. It expects to generate over $6

To increase yearly EBITDA by at least $2.5 billion, Vedanta Ltd. intends to invest $6 billion throughout its companies. It expects to generate over $6 billion in incremental income from more than 50 ongoing projects, increasing EBITDA from an estimated $5 billion in the current fiscal year to as much as $7.5 billion by FY27. Refinery expansions, power plant commissioning, and capacity increases across many sectors are noteworthy undertakings. The business plans to deleverage by $3 billion over the next three years to get its net debt down to $9 billion by FY27. The planned demerger aims to increase shareholder value by opening up investment possibilities in independent, sectorfocused enterprises. Vedanta is committed to efficiency, growth, and value generation throughout its varied asset portfolio, as seen by its strategic initiatives. Read More..

B2B Tech News | 1 years ago        

Dell Technologies Implements Workforce Reduction Amid CostCutting Initiative

To save costs, Dell Technologies announced a decrease in staff, which included internal reorganisations and restrictions on hiring from outside. As of

To save costs, Dell Technologies announced a decrease in staff, which included internal reorganisations and restrictions on hiring from outside. As of February 2, 2024, the firm employed around 120,000 people, down from approximately 126,000 a year earlier. This action comes after a reduction in sales, with fourthquarter results reporting an 11% decline, partly due to a nearly twoyear period of weak demand for personal computers. Despite obstacles, Dell expects net sales growth for its Client Solutions Division CSG, which includes PCs, throughout the year. It does, however, anticipate higher input costs and an ongoing decline in net revenue for other businesses as a result of the modifications to its business arrangement with VMware. Dell trimmed 6,650 positions last year in preparation for a potential recession and declining PC demand. Read More..

B2B Tech News | 1 years ago        

Airbus Secures Major Orders from Japanese and South Korean Airlines, Dealing Blow to Boeing

Japan Airlines JAL and Korean Air, two major Asian clients, placed big contracts with Airbus for 65 aircraft, striking a blow to Boeing during its man

Japan Airlines JAL and Korean Air, two major Asian clients, placed big contracts with Airbus for 65 aircraft, striking a blow to Boeing during its manufacturing problems. JAL has placed its first order for smaller singleaisle jets from Airbus, announcing intentions to buy 21 widebody A350900 and 11 narrowbody A321neo aircraft. Meanwhile, as part of its longterm fleet planning, Korean Air announced a $13.7 billion commitment to buy 33 A350s, its first acquisition of this aircraft family. The substantial orders resulted from Airbuss growing market share in the singleaisle segment and Boeings continuous struggles. In the face of worldwide aircraft scarcity, both Asian carriers noted the need for newer, more efficient aircraft to satisfy sustainability goals and increased demand. Read More..

B2B Tech News | 1 years ago        

Swiss National Bank SNB Surprises Markets with First Rate Cut in Nine Years

The primary interest rate of the Swiss National Bank SNB dropped by 25 basis points to 1.50%, surprising the markets with the banks first rate reducti

The primary interest rate of the Swiss National Bank SNB dropped by 25 basis points to 1.50%, surprising the markets with the banks first rate reduction in nine years. The decline in Swiss inflation and the strengthening of the Swiss currency drove this decision, the first of its kind by a major central bank to reverse stricter monetary policies intended to combat inflation. The efficacy of previous measures to combat inflation was underlined by SNB Chairman Thomas Jordan, who noted the banks latest inflation estimates, which predict inflation would stay within the target range of 02%. Given the SNBs history of prudence, analysts consider the rate drop a daring move and anticipate such reductions. The decision contrasts with recent moves by other central banks, including the Bank of Japans interest rate hike and rate hikes by central banks in Taiwan and Turkey. Read More..

B2B Tech News | 1 years ago        

Australias Reserve Bank Flags Ongoing Challenges in Financial Stability Review

In its semiannual Financial Stability Review, the Reserve Bank of Australia projects that highinterest rates and inflation will continue to be a probl

In its semiannual Financial Stability Review, the Reserve Bank of Australia projects that highinterest rates and inflation will continue to be a problem for companies and families. The RBA acknowledged the tenacity of these industries but also highlighted persistent difficulties, which are reflected in its decision to maintain stable interest rates and abandon its tightening bias. Although there were worries about family finances, there was some solace in recent statistics indicating a decline in the jobless rate. According to the RBAs scenario study, most borrowers could cope even with an interest rate hike of 50 basis points. Even if a surge in loan defaults is anticipated, Australian banks are seen to be wellprepared. The assessment also emphasised foreign risks, highlighting the interdependence of Australias financial system with the possible consequences of vulnerabilities in Chinas real estate industry and global commercial real estate markets. Read More..

B2B Tech News | 1 years ago        

Ethiopia Pursues IMF Loan as Economic Challenges Mount

To seek respite from its economic woes, Ethiopia has welcomed a staff mission from the International Monetary Fund IMF to expedite loan programme disc

To seek respite from its economic woes, Ethiopia has welcomed a staff mission from the International Monetary Fund IMF to expedite loan programme discussions. The nation seeks to address debt repayment and economic stabilisation in the face of inflation and currency shortages with a reported $3.5 billion proposal. Obstacles include continued hostilities, and debt relief negotiations with creditors have drawn out conversations despite attempts. The Paris Clubs admonition increases the urgency of stopping the debt payment suspension by the end of March if no IMF loan is obtained. China is offering Ethiopia financial relief, but Ethiopia is under pressure to settle an impending Eurobond. The IMF mission in Addis Ababa will evaluate Ethiopias economic strategy to maintain stability and resolve financial worries, most likely concentrating on sectoral liberalisation and currency depreciation. Read More..

B2B Tech News | 1 years ago        

Reddits IPO Surges to $9 Billion, But Users Express Skepticism on Future Performance

When Reddits stock market valuation soared to about $9 billion after its Wall Street debut, people on the major stock trading forums on social media b

When Reddits stock market valuation soared to about $9 billion after its Wall Street debut, people on the major stock trading forums on social media began to express scepticism about the companys share prospects. Some members on Reddits "wallstreetbets" site exhibited interest in buying put options, indicating a pessimistic opinion towards the stock despite the successful Initial Public Offering IPO. Although the firm received $748 million in its IPO, priced at the upper end of the projected range, Reddit debates have been centred on the platforms lack of profitability since its launch in 2005. Some Reddit users are still hesitant to participate in the firm, even though Reddits IPO drew retail investors and reserved shares for specific community members, such as moderators and workers. Additionally, Nasdaq plans to list options on Reddit starting Monday, allowing investors to bet against the stock. Read More..

B2B Tech News | 1 years ago        

US Urges Raiffeisen Bank International to Halt Purchase of Industrial Stake from Russian Tycoon

Amid worries about possible sanctions violations, the US pressures Austrias Raiffeisen Bank International to renounce its intentions to buy a 1.5 bill

Amid worries about possible sanctions violations, the US pressures Austrias Raiffeisen Bank International to renounce its intentions to buy a 1.5 billion euro industrial interest from Russian oligarch Oleg Deripaska. One of the most significant Western agreements in Russia since the crisis in Ukraine may be thwarted by Washingtons interference, putting further pressure on Raiffeisen, who is crucial to the Russian governments international payment processing. Because of Deripaskas sanctioned status, there has been scrutiny surrounding the banks proposed acquisition of the Strabag share. The agreement appears questionable in the light of rising tensions, notwithstanding Raiffeisens diligent efforts to confirm compliance with penalties. The fact that Raiffeisen is still there shows how closely Austria is tied to Russia, even in the face of regulatory scrutiny and pressure from the EU and the US. Read More..

B2B Tech News | 1 years ago        



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