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RBI’s $5 Billion Dollar/Rupee Swap Auction Set to Attract Strong Interest

On Friday, six bankers predict substantial interest from banks and corporate treasuries in the Reserve Bank of Indias RBI 5 billion dollar/rupee buyse

On Friday, six bankers predict substantial interest from banks and corporate treasuries in the Reserve Bank of Indias RBI 5 billion dollar/rupee buysell swap auction. This sixmonth dollar/rupee swap is a component of the RBIs plan to counteract the rupees depreciation by injecting roughly 1.5 trillion rupees $17.33 billion into the banking system. The RBI will buy spot dollars at the auction to improve rupee liquidity and temporarily decrease dollar availability. Corporate treasuries are expected to take part in obtaining forward money. There are differing views on the precise premium levels. Still, most bankers believe the auction will see significant oversubscription and that the cutoff premium will be near current market rates. The auction is designed to accommodate multiple bids at different prices, with the RBIs ongoing interventions likely to stabilize the auction cutoff levels. Read More..

B2B Tech News | 2 months ago        

El Salvador Implements Bitcoin Reforms After $1.4 Billion IMF Loan Agreement

Following a $1.4 billion loan deal with the International Monetary Fund IMF, El Salvador is enacting changes to the usage of Bitcoin in its industrial

Following a $1.4 billion loan deal with the International Monetary Fund IMF, El Salvador is enacting changes to the usage of Bitcoin in its industrial and banking sectors. The government has made Bitcoin payments optional for local retailers to meet IMF requirements. The countrys legislature supported this choice, with only two parliamentarians voting against the reform and 55 in favour. According to lawmaker Elisa Rosales, the legislation would improve Bitcoins status as legal cash and encourage its practical application. The IMF agreement, reached in December 2024, stipulates that taxes must only be collected in US dollars and include steps to restrict the public sectors exposure to Bitcoin. El Salvadors prior cryptofriendly policies attracted Web3 firms, but the country faced IMF scrutiny since April 2024 due to its Bitcoin legislation. Read More..

B2B Tech News | 2 months ago        

Blackstone Stands Firm on Data Center Investments Amid LowCost AI Concerns

Despite the rise of inexpensive AI models like Chinas DeepSeek, Blackstone said on Thursday that its significant data centre investments are still sub

Despite the rise of inexpensive AI models like Chinas DeepSeek, Blackstone said on Thursday that its significant data centre investments are still substantial. According to the alternative asset manager, physical infrastructure is essential for AI operations, which oversees $80 billion in leased data centres. Jonathan Grey, president and COO of Blackstone emphasised the companys strategic approach and collaborations with prominent international companies. Even though DeepSeeks launch has raised questions about possible effects on demand for data centres, Grey thinks lower prices may encourage broader AI use, increasing the demand for data centres. Jefferies analysts concurred, stating that hyperscalers are unlikely to cut back on their capital spending as AI competition heats up. Despite these reassurances, Blackstones shares fell nearly 4% in afternoon trading. Read More..

B2B Tech News | 2 months ago        

Ghana’s Finance Minister Announces Successful Creditor Agreement for Debt Relief

In a crucial step towards rebuilding its national finances and formalising a debt restructuring plan first decided upon with the Official Creditor Com

In a crucial step towards rebuilding its national finances and formalising a debt restructuring plan first decided upon with the Official Creditor Committee in June 2023, Ghana has signed a memorandum of agreement with its official creditors. This restructure comes after Ghana defaulted on most of its external borrowings in 2022, mainly affecting its cocoa and gold industries. The pact, which intends to offer significant debtservice relief as part of the International Monetary Fund loan program, has now been signed by all participating creditor countries, according to the finance minister, Cassiel Ato Forson. Ghana is negotiating with 60 international banks to resolve the remaining $2.7 billion in loans, even though 93% of the restructuring process is finished. Forson underlined that the government is dedicated to accelerating these discussions. Read More..

B2B Tech News | 2 months ago        

Nissan and Honda Explore Potential Merger by 2026, Announcement Pending

Nissan Motor has postponed the initial timeframe established for the end of January to disclose the path of its possible merging with Honda Motor by m

Nissan Motor has postponed the initial timeframe established for the end of January to disclose the path of its possible merging with Honda Motor by midFebruary while talks continue within the merging Preparatory Committee. Because Chinese electric vehicle producers are becoming a more significant threat to established automakers, the two Japanese automakers are considering merging by 2026. To delist Nissan and Hondas shares, the companies have set a goal to wrap up their talks by June and form a holding company by August 2026. Longtime Nissan partner Renault has indicated that it is amenable to the combination, but Mitsubishi Motors is allegedly reevaluating its involvement in the talks. Read More..

B2B Tech News | 2 months ago        

UK and India to Resume Free Trade Agreement Negotiations Following G20 Summit Meeting

British High Commissioner Lindy Cameron said the UK and India will begin negotiating a bilateral investment treaty and a free trade agreement FTA. Thi

British High Commissioner Lindy Cameron said the UK and India will begin negotiating a bilateral investment treaty and a free trade agreement FTA. This decision comes after Prime Minister Narendra Modi and UK Prime Minister Keir Starmer met at the November G20 Summit. Cameron underlined the significance of their collaboration in opening up the economic potential for both nations. Next month, British Business and Trade Secretary Jonathan Reynolds will travel to India to resume talks. There have been 14 rounds of negotiations since January 2022, but elections and government shifts have delayed them. Alcoholic beverage import taxes, electric car import taxes, and British companies access to Indias services industries are some of the main unresolved difficulties. Read More..

B2B Tech News | 2 months ago        

India Aims to Boost Investments in Argentina’s Lithium and Energy Sectors

According to Mining Secretary V.L. Kantha Rao, India is aggressively looking to increase its investments in Argentinas mining, gas, and oil industries

According to Mining Secretary V.L. Kantha Rao, India is aggressively looking to increase its investments in Argentinas mining, gas, and oil industries, emphasising lithium to support its energy transition. This trip to Buenos Aires was the first facetoface encounter since a preliminary agreement for technological development and mineral exploration was formed in 2022. Lithium is presently being investigated in Catamarca province by the Indian stateowned companies Khanij Bidesh India Ltd KABIL, Coal India, and the private company Greenko. Rao has expressed interest in neighbouring provinces like Salta and expects announcements about other developments within six months. Securing essential minerals from resourcerich nations is part of Indias agenda, aiming to switch 30% of automobiles to electric vehicles by 2030. Read More..

B2B Tech News | 2 months ago        

Namibia’s Unemployment Rate Climbs to 36.9%, One of the Highest Globally

Compared to 33.4% in 2018, Namibias unemployment rate increased to 36.9% in 2023, according to the statistics office. In the third quarter of 2024, Na

Compared to 33.4% in 2018, Namibias unemployment rate increased to 36.9% in 2023, according to the statistics office. In the third quarter of 2024, Namibia, which has a population of approximately three million, surpassed South Africa, which recorded a decrease to 32.1%, to have one of the highest official jobless rates in the world. The Labour Force had 867,247 people, but only 320,442 were employed, according to StatisticianGeneral Alex Shimuafeni. Importantly, discouraged workers are not included in the published unemployment rate, meaning the number of unemployed people is more considerable. The 2023 Labour Force report indicated a broader rate of 54.8%. To combat unemployment and poverty in the nation, Presidentelect Netumbo NandiNdaitwah has pledged "radical shifts." Read More..

B2B Tech News | 2 months ago        



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