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Kansai Electric Power Acquires 49% Stake in Iberdrola’s Windanker Offshore Wind Project

Kansai Electric Power Co. 9503.T has purchased a 49% share in Iberdrolas IBE.MC Windanker offshore wind project in Germany to strengthen their relatio

Kansai Electric Power Co. 9503.T has purchased a 49% share in Iberdrolas IBE.MC Windanker offshore wind project in Germany to strengthen their relationship. The 315megawatt wind farm will be situated in the Baltic Sea and is expected to start producing in late 2026. Iberdrola estimates the project to be 1.3 billion euros, although the investment amount still needs to be revealed. This brings Kansais total offshore capacity to three gigawatts and represents its fifth offshore wind project overseas. The businesses already work together in the UK, where Kansai owns a 12% share in Electricity North West. Iberdrola also won a 375megawatt offshore wind project in Japan, demonstrating the increasing cooperation between Western and Japanese companies in the renewable energy sector. Read More..

B2B Tech News | 3 months ago        

African Development Bank Approves $108 Million Loan to Boost Zambia’s Economic Governance

Zambia has been granted a $108 million loan by the Board of Directors of the African Development Bank Group to improve economic governance and carry o

Zambia has been granted a $108 million loan by the Board of Directors of the African Development Bank Group to improve economic governance and carry out public sector reforms. The Fiscal Sustainability and Economic Resilience Support Program, which aims to create a strong, diverse economy, will be supported by this financing. Participating in the Global Forum on Transparency and Exchange of Information for Tax Purposes, registering 12,000 VATliable taxpayers, and implementing an innovative electronic invoice system are some significant projects. Through the establishment of 10 mechanisation centres to increase productivity and support the Ministry of Agricultures mechanisation policy, the initiative will help encourage agroindustrial growth. Additionally, implementing better investment management techniques will promote effective public expenditure. Twentyfour projects, totalling the African Development Banks active portfolio in Zambia as of 30 November 2024, are valued at $872.3 milli Read More..

B2B Tech News | 3 months ago        

Amazon Donates $1 Million to Trump’s Inaugural Fund, Strengthening Ties with New Administration

In addition to a $1 million inkind donation from the events broadcast on its Prime Video service, Amazon has announced a $1 million donation to U.S. P

In addition to a $1 million inkind donation from the events broadcast on its Prime Video service, Amazon has announced a $1 million donation to U.S. Presidentelect Donald Trumps inaugural fund. Amazon has joined Meta Platforms, another tech behemoth, contributing $1 million for the 20 January inauguration. Jeff Bezos, Amazons founder and executive chairman, is set to meet with Trump the following week. Bezos highlighted the need for media credibility in the face of perceived bias and defended the Washington Posts decision not to support any candidate in the most recent election, despite Trumps prior criticism of the publication, which Bezos owns. Trump raised a record $106.7 million to fund his inauguration celebrations in 2017. Read More..

B2B Tech News | 3 months ago        

ServiceTitan Shares Surge 42% in Strong Nasdaq Debut, Valuation Approaches $9 Billion

In their Nasdaq debut on Thursday, ServiceTitans shares jumped over 42%, beginning at $101 instead of the IPO price of $71, giving the company a nearl

In their Nasdaq debut on Thursday, ServiceTitans shares jumped over 42%, beginning at $101 instead of the IPO price of $71, giving the company a nearly $9 billion valuation. This is a minor decline compared to the companys prior valuation of $9.5 billion in a capital round headed by Thoma Bravo in 2021. Favourable market conditions, such as strong equities markets and reduced interest rate forecasts, are credited with the impressive success. By selling 8.8 million shares, ServiceTitan, a cloudbased software supplier for more than 11,800 HVAC companies, raised almost $625 million. Goldman Sachs, Morgan Stanley, and other prominent companies spearheaded the IPO, indicating growing investor interest in these offerings. Read More..

B2B Tech News | 3 months ago        

Bank of Mexico Confident in Financial System Amid Economic Weaknesses and Market Volatility

Despite the nations economic vulnerabilities and the risks associated with market volatility and possible trade disputes, the Bank of Mexico, Mexicos

Despite the nations economic vulnerabilities and the risks associated with market volatility and possible trade disputes, the Bank of Mexico, Mexicos central bank, stated confidence in the financial system. The bank emphasised the resilience of financial institutions in its biannual financial stability report, pointing out that capital and liquidity levels surpass legal minimums. The elections and Presidentelect Donald Trumps threats of U.S. tariffs on Mexican goods have caused considerable volatility in Mexican markets over the second part of the year. Banxico stated that market behaviour remained "relatively orderly" despite these difficulties. Despite highlighting the benefits of nearshoring trends for bank credit and economic integration with the United States, the central bank projects modest growth of 1.8% in 2024 and 1.2% in 2025. Read More..

B2B Tech News | 3 months ago        

Brazil’s Central Bank Hikes Interest Rates to 12.25%, Signals Further Increases Ahead

At its subsequent two sessions, the Brazilian central bank indicated that interest rates may be raised by another 100 basis points, which would lift t

At its subsequent two sessions, the Brazilian central bank indicated that interest rates may be raised by another 100 basis points, which would lift the benchmark Selic rate to 12.25%. If this pattern continues, the rate may hit 14.25% by March, demonstrating the banks resolve to keep inflation under control in the face of strong economic growth and a competitive job market. The decision was made in response to President Lula da Silvas administrations spending cut package, which was below expectations, affecting inflation dynamics and undermining trust in fiscal management. The central bank increased its forecast for inflation from 4.6% to 4.9% this year. While controlling the budgetary risks brought on by rising debt servicing expenses, this tightening cycle seeks to meet the 3% inflation target. Read More..

B2B Tech News | 3 months ago        

Bank of Japan Poised to Hold Interest Rates Steady Amid Economic Uncertainty

To carefully evaluate foreign concerns and the wage forecast for the upcoming year, officials are expected to keep interest rates constant next week a

To carefully evaluate foreign concerns and the wage forecast for the upcoming year, officials are expected to keep interest rates constant next week at the Bank of Japans BOJ meeting. This choice may make a rate hike more likely in January or March when additional wage trend data becomes available. Regarding the December decision, the BOJ is divided some members think the time is suitable for an increase, while others urge caution in light of the present inflation rate. As market expectations fluctuate, the BOJs final policy meeting of the year is scheduled for December 18–19. Most economists predict a rate increase to 0.5% by the end of March. Read More..

B2B Tech News | 3 months ago        

South Korean Political Turmoil Exposes Need for Corporate Reform Amid Korea Zinc Control Battle

Political unrest and the pressing need for measures to curtail the influence of familyowned corporations have escalated since the failed coup attempt

Political unrest and the pressing need for measures to curtail the influence of familyowned corporations have escalated since the failed coup attempt of South Korean President Yoon Suk Yeol. Despite a power struggle involving Chair Yun B. Choi, the KOSPI index needs help as Korea Zinc prepares for a crucial $22 billion shareholder meeting in January to consider new board members. To thwart a takeover effort by the private equity company MBK and another founding family, Choi attempted to sell $1.8 billion worth of shares, which drew criticism. Even if this proposal is dropped, he will still be the CEO. Directors duties are mainly to the corporation, not shareholders, which brings essential corporate governance issues to light. In the corporate environment of South Korea, it is becoming more and more critical to reform rules to guarantee equitable treatment of shareholders. Read More..

B2B Tech News | 3 months ago        



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