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Russia and Saudi Arabia cut down on oil supply global prices might spike

Oil prices are currently on direction to surpass $100 per barrel for the first time in 2023, after climbing over 30% since June due to Russian and Sau

Oil prices are currently on direction to surpass $100 per barrel for the first time in 2023, after climbing over 30% since June due to Russian and Saudi Arabian production cutbacks and soaring Chinese demand. The 30% increase since June is the result of increased demand in China and output curbs by Russia and Saudi Arabia. Last week, the International Energy Agency IEA had predicted that the continual production cuts undertaken by these two the Organisation of Petroleum Export leaders would result in a "significant supply shortfall," posing a serious danger to continued price swings. Read More..

B2B Tech News | 2 years ago        

Transforming the world China’s clean power business at the forefront

Since China stopped constructing coalfired power stations abroad in 2021, the green trend has intensified, with the nations leading power corporations

Since China stopped constructing coalfired power stations abroad in 2021, the green trend has intensified, with the nations leading power corporations adopting proactive alterations and moving their priority to green projects. According to the findings of the China Electric Power Planning and Engineering Institute, energy exchange contributes to roughly 40% of the overall expenditure in countries and areas participating in the BRI, with the electrical power industry accounting for half of the overall energy expenditure. As nations around the globe accelerate their renewable energy transition while increasing efforts to ensure local security of energy and expand their electrical power investment scale, China needs to further optimise its approaches, enhance international competitiveness, modify and enhance the financial support system, and develop a diverse monetary encouragement model. Read More..

B2B Tech News | 2 years ago        

American Airlines Hit Hard as Fuel Costs Soar and Labor Demands Rise

Rising fuel prices and pay increases impact business profitability across all industries this quarter. While airlines, largely dependent on fuel and l

Rising fuel prices and pay increases impact business profitability across all industries this quarter. While airlines, largely dependent on fuel and labour, are feeling the pinch, labour unions in aerospace, entertainment, and package delivery have won sizable pay rises. Due to unforeseen fuel and maintenance costs, Delta Air Lines lowered its Q3 earnings outlook. American Airlines also decreased its forecast for earnings, blaming high fuel costs and a new pilot labour agreement with significant pay hikes. In the meantime, UPS provided information on expenditures associated with a labour agreement, with costs rising at a compound annual rate of 3.3% over five years. In other sectors, such as the automobile and entertainment industries, unions pressure employers to raise salaries. Read More..

B2B Tech News | 2 years ago        

Chinas Central Bank Slashes Reserve Requirements to Boost Economy

The second reserve requirement ratio RRR reduction announced by Chinas central bank, the Peoples Bank of China PBOC, will take effect on September 15

The second reserve requirement ratio RRR reduction announced by Chinas central bank, the Peoples Bank of China PBOC, will take effect on September 15 and affect all banks except those having a 5% reserve ratio. This action attempts to increase liquidity and promote the nations economic recovery in the face of postpandemic difficulties. Anticipate that the cut will increase medium to longterm liquidity by more than 500 billion yuan $68.71 billion. Before a deadline in September, local administrations in China have been actively issuing "special" bonds to finance infrastructure projects. The PBOC promises to promote the economy while preserving a steady yuan exchange rate. Read More..

B2B Tech News | 2 years ago        

Pentathlon Ventures Unleashes $54.4 Million Fund for B2B SaaS Startups

The second fund from Pentathlon Ventures, which focuses on earlystage B2B softwareasaservice SaaS firms, has a corpus objective of Rs 450 crore about

The second fund from Pentathlon Ventures, which focuses on earlystage B2B softwareasaservice SaaS firms, has a corpus objective of Rs 450 crore about $54.4 million. In addition to enterprise digital transformation, finance, ecommerce enablement, health, and other areas, the company wants to invest in 25 B2B SaaS firms. The fund will receive funding from local and international limited partners, including corporations, institutions, and business moguls. It focuses on seedstage businesses with revenue and a productmarket fit. GTMDialogues is a programme run by Pentathlon Ventures to guide SaaS founders and GTM leaders. With the new fund, participation in Series A and B rounds will be possible, with investments ranging from $750,000 to $1.2 million. Read More..

B2B Tech News | 2 years ago        

DBS Group Expanding in China, Eyeing the Indian Market

Due to the economic headwinds brought on by the crisis in Chinas indebted real estate sector, DBS Group Chief Executive Piyush Gupta highlighted conce

Due to the economic headwinds brought on by the crisis in Chinas indebted real estate sector, DBS Group Chief Executive Piyush Gupta highlighted concerns about the countrys economy. Despite pointing out the potential for growth in fields like electric vehicles, he acknowledged the difficulties in cleaning up the real estate industry. Over the next five years, DBS wants to treble its operations in India and seeks to raise its holding in Shenzhen Rural Commercial Bank. Gupta emphasised DBSs wealth management divisions success, which benefited from inflows from various geographical areas. Singaporean banks have experienced significant inflows and increased profits because wealthy clients have actively sought it out as a financial refuge due to its reputation. Read More..

B2B Tech News | 2 years ago        

Ukraine claims to retake Black Sea drilling rigs from Russian control

In a recent statement released by Ukrainian Military, officials from Ukraine have announced that all the Russian Military equipment has been removed f

In a recent statement released by Ukrainian Military, officials from Ukraine have announced that all the Russian Military equipment has been removed from the Boyko Towers which were seized in 2015 after it illegally annexed Crimea. The oil platforms were taken over by Russia where they had set up warehouses with ammunition and fuel for helicopters as well as radar stations to monitor the expanse of the Black Sea. Before this invasion, the Crimean Peninsula was an easy access way for Ukraine to extract natural gas from the Black Sea shelf and provided it to the peninsula as well as parts of Ukraine. Access to these drilling station would mean the renewal of the platforms as they will be used for extraction of natural gas and oil for Ukraine. Read More..

B2B Tech News | 2 years ago        

3M Predicts Slow Growth in 2024, Stock Plummets 5.7%

An industrial corporation in the United States named 3M has forewarned of weak growth in 2024. The business expects difficulties in its consumer and e

An industrial corporation in the United States named 3M has forewarned of weak growth in 2024. The business expects difficulties in its consumer and electronics segments for the current and forthcoming quarters. The stock price of 3M fell 5.7% due to this announcement. They updated their forecast for currentquarter sales to $78 billion, noting Chinas slow recovery and a shift in consumer spending towards necessities. Challenges faced by 3M include lower consumer electronics expenditure due to inflation and more significant financing costs. Additionally, they have recently achieved significant settlements in litigation involving Combat Arms earplugs and water contamination claims. Read More..

B2B Tech News | 2 years ago        



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