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BUSINESS NEWS

ARK Investment and 21Shares Propose 0.80% Fee for ARK 21Shares Bitcoin ETF

If authorities permit ARK Investment Management, run by Cathie Wood, and 21Shares, a Swiss cryptocurrency manager, to launch their planned exchangetra

If authorities permit ARK Investment Management, run by Cathie Wood, and 21Shares, a Swiss cryptocurrency manager, to launch their planned exchangetraded fund ETF for Bitcoin, they want to charge a 0.80% fee. Since 2021, the U.S. Securities and Exchange Commission SEC has denied many proposals for spot bitcoin ETFs due to concerns over potential market manipulation. Expectations, though, have increased that authorities may reconsider. According to recent remarks made by SEC Chair Gary Gensler, the agency is considering about ten spot bitcoin ETF ideas. A final SEC decision on the ARK 21Shares ETF is expected on or before January 10, 2024. In the market, it would encounter competition if approved. Read More..

B2B Tech News | 4 months ago        

Tata Technologies IPO Emerges as Weeks Most Oversubscribed Domestic Offering

The most oversubscribed domestic initial public offering IPO of the week is Tata Technologies IPO in India, priced at 30.43 billion rupees $366 millio

The most oversubscribed domestic initial public offering IPO of the week is Tata Technologies IPO in India, priced at 30.43 billion rupees $366 million. By the end of subscriptions, investors had bid for about 3.13 billion shares valued at 1.56 trillion rupees $18.74 billion, an oversubscription of almost 69.43 times the amount on offer. The high demand indicates investors are interested in the Tata Groups first public offering in over 20 years. Automotive, aerospace, and heavy machinery sectors are just a few of the industries Tata Technologies serves with engineering and technology services. The first day of trading for the business is set for November 30. Read More..

B2B Tech News | 4 months ago        

Huawei to Shift Smart Car Unit to Joint Venture with Changan Auto

Core technology and resources from Huaweis smart car division will be transferred to a new joint venture that the manufacturer Changan Auto may own up

Core technology and resources from Huaweis smart car division will be transferred to a new joint venture that the manufacturer Changan Auto may own up to 40% of. Research and development, manufacturing, sales, and servicing of intelligent automotive systems and component solutions will fall under the purview of the new company. Huawei and Changan Auto will haggle over the capital contribution and equity ratio. With an emphasis on smart car solutions, Huawei, a significant participant in the digital sector, has partnered with many manufacturers, including Changan and Series Group. This action is a component of Huaweis automotive strategy. Read More..

B2B Tech News | 4 months ago        

Shift Needed IEA Pushes Oil Industry to Invest More in Clean Energy

The head of the International Energy Agency urged the oil and gas industry to prioritize clean energy over carbon capture tech as a climate solution.

The head of the International Energy Agency urged the oil and gas industry to prioritize clean energy over carbon capture tech as a climate solution. IEAs Fatih Birol stated ahead of a climate conference that the industry must embrace a transition to netzero emissions by 2050, emphasizing the need for significant clean energy investments. Birol highlighted that just 1% of global clean energy investment comes from oil and gas firms and stressed the necessity of redirecting capital towards clean energy projects. Achieving climate goals would require a major shift in investment, with the industry needing to allocate 50% of capital spending to clean energy by 2030, much higher than the current 2.5%. Read More..

B2B Tech News | 4 months ago        

Arab Countries Join Boycott of Western Brands Over Alleged Israel Ties

Western fastfood chains in Cairo and other Arab countries are experiencing a boycott due to alleged ties to Israel or perceived proIsraeli stances. Th

Western fastfood chains in Cairo and other Arab countries are experiencing a boycott due to alleged ties to Israel or perceived proIsraeli stances. This boycott, sparked by Israels military actions in Gaza, is spreading across some Arab nations but has limited impact in others like Saudi Arabia and the UAE. Social media campaigns urging boycotts list multiple companies, leading consumers to switch to local alternatives. In Egypt, where protests are restricted, some view the boycott as a way to voice dissent peacefully. Participants, like Cairo resident Reham Hamed, feel its a small gesture to distance themselves from perceived support of the conflict. Read More..

B2B Tech News | 4 months ago        

SEBI Concludes Investigation AdaniHindenburg Matter Nearing Resolution

The Securities and Exchange Board of India, Indias market regulator, notified the Supreme Court that it would not be requesting any more time to finis

The Securities and Exchange Board of India, Indias market regulator, notified the Supreme Court that it would not be requesting any more time to finish its investigation into the AdaniHindenburg case. The efforts taken by SEBI to safeguard investor value were questioned by Indias Chief Justice, DY Chandrachud. Attorney General Tushar Mehta, who represents SEBI, said that the agency has begun the decisionmaking process following the probe and that action has been taken against shortsellers based on cases that have been found. The court brought up Extreme stock market volatility, which led SEBI to reiterate that it accepts expert committee suggestions to bolster regulatory frameworks. Read More..

B2B Tech News | 4 months ago        

Protests Disrupt Operations First Quantum Minerals Ltd. Faces Setback in Panama

The primary copper mine owned by First Quantum Minerals in Panama is not producing at a profit because demonstrators blockade an essential port. The d

The primary copper mine owned by First Quantum Minerals in Panama is not producing at a profit because demonstrators blockade an essential port. The disturbances have impeded the deliveries of necessary supplies, such as coal, to power the facility. First, Quantum Minerals and the Panamanian economy benefit significantly from the Cobre Panama mine, which produced 112,734 metric tonnes of copper in the third quarter of 2023. Disagreements about a new contract that First Quantum and the government signed in October caused the demonstrations. According to the corporation, production will restart after the port embargo is lifted. The Supreme Court of Panama is now considering challenges to the pact. Read More..

B2B Tech News | 4 months ago        

Taking Flight Virgin Australia Orders Six Boeing MAX8 Aircraft

Virgin Australia is adding six more Boeing MAX8 aircraft to its fleet, increasing the total number of aircraft it has ordered to fourteen. As the avia

Virgin Australia is adding six more Boeing MAX8 aircraft to its fleet, increasing the total number of aircraft it has ordered to fourteen. As the aviation sector recovers from the COVID19 epidemic, the move is intended to accommodate the increased demand for travel. In fiscal 2023, Virgin Australia achieved profitability for the first time in 11 years. It is anticipated that the recently ordered aircraft, which will be delivered in the second half of 2024, would cut emissions by at least 15% each trip. The airline intends to use the MAX8s to fly to locations including Fiji, Bali, and Samoa on both shorthaul local and international routes. Read More..

B2B Tech News | 4 months ago        



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