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Senegal Establishes Commission to Review Oil and Gas Contracts with Multinationals

A panel to examine Senegals contracts for oil and gas with international companies was constituted on 19 August by Prime Minister Ousmane Sonko. The t

A panel to examine Senegals contracts for oil and gas with international companies was constituted on 19 August by Prime Minister Ousmane Sonko. The team, which includes legal, tax, and energy specialists, will closely review every legal aspect of the agreements, Sonko said in a national television announcement. Dismissing talk of nationalisation, he reiterated the governments intention to realign the contracts to Senegals benefit. After Senegal started producing oil in June, this development comes after the country began producing gas from the GTA project later this year. Woodside Energys Sangomar field started producing in June. Whether the contracts are altered will depend on the commissions recommendations and possible negotiating results. Read More..

B2B Tech News | 4 months ago        

General Atlantic Sells Entire Stake in PNB Housing Finance for $127 Million

On Wednesday, US private equity company General Atlantic sold its whole 5.1% ownership for 10.69 billion rupees $127.40 million to PNB Housing Finance

On Wednesday, US private equity company General Atlantic sold its whole 5.1% ownership for 10.69 billion rupees $127.40 million to PNB Housing Finance in India. The 13.3 million shares sold were valued at 802.50 rupees apiece, a little less than the 810.90 rupee closing price. PNB Housings stock price rose 10.1% due to the deal. The principal purchasers were Aditya Birla Sun Life Mutual Fund, Fidelity Investments, Goldman Sachs, Morgan Stanley, Nomura, and the Singaporean government. Before selling a 2.2% share in May, General Atlantic had invested in PNB Housing at its 2016 IPO. 2024 has seen a 12% increase in PNB Housings share price. Read More..

B2B Tech News | 4 months ago        

Zoom Ups Annual Revenue Forecast Amid Strong Demand for AI Tools

Because of the increasing popularity of hybrid work models and the strong demand for its AIpowered collaboration products, Zoom Video Communications Z

Because of the increasing popularity of hybrid work models and the strong demand for its AIpowered collaboration products, Zoom Video Communications ZM increased its annual revenue projection on Wednesday. The business raised its earlier revenue estimate for the fiscal year 2025 to between $4.63 billion and $4.64 billion. With secondquarter revenue of $1.16 billion, Zoom beat forecasts and earned $1.39 per share. CFO Kelly Steckelberg will leave the firm following the release of its results for the quarter ended October 31, despite the companys optimistic forecast. Following the news, Zooms stock increased by 3%, indicating that investors were encouraged by the companys potential for continued innovation and expansion. Read More..

B2B Tech News | 4 months ago        

Bank of Korea Holds Interest Rate at 3.50%, Signals Potential Cut in Coming Months

In line with most analysts predictions, the Bank of Korea BOK, the central bank of South Korea, maintained its benchmark interest rate at 3.50% on Thu

In line with most analysts predictions, the Bank of Korea BOK, the central bank of South Korea, maintained its benchmark interest rate at 3.50% on Thursday. Nonetheless, the BOK suggested that a rate decrease may happen soon since four of its seven board members were willing to do so in the next three months. This position reflects worries about the economys sluggish growth despite inflation declining. The BOKs move fits with a more significant worldwide trend of policy easing by central banks. The bank revised its inflation expectation to 2.5% and reduced its growth estimate 2024 to 2.4%. October rate reduction might coincide with those that other major central banks, such as the U.S. Federal Reserve, have planned. Read More..

B2B Tech News | 4 months ago        

Chevron to Invest $989 Million in Bengaluru for Largest Tech Center Outside the US

For Bengaluru, India, Chevron plans to invest 83 billion rupees $989.20 million to create its largest IT centre outside the United States. This new re

For Bengaluru, India, Chevron plans to invest 83 billion rupees $989.20 million to create its largest IT centre outside the United States. This new research and development facility will create six hundred engineering positions in the next five to six years. The projects magnitude was highlighted when Karnatakas Minister of Commerce and Industries, MB Patil, announced the investment on social media. As announced by the firm, the recruiting process would be finished by the end of 2025, according to Akshay Sahni, the new CEO of Chevron India. This calculated step demonstrates Chevrons resolve to strengthen its worldwide research infrastructure while growing its engineering and technology capabilities in India. Read More..

B2B Tech News | 4 months ago        

Qatar Airways Acquires 25% Stake in South Africas Airlink

On August 20, Qatar Airways announced that it had bought a quarter of the South African airline Airlink. The deals financial specifics were kept priva

On August 20, Qatar Airways announced that it had bought a quarter of the South African airline Airlink. The deals financial specifics were kept private. This investment will improve connectivity throughout southern and eastern Africa as part of the two airlines ongoing codeshare arrangement. Qatar Airways dedication to growing its footprint in Africa is evident in its partnership with Airlink, which offers service to more than 45 locations in the area. Cities including Abidjan, Abuja, Accra, Harare, Luanda, and Lusaka are among the newest destinations on Qatar Airways network. Read More..

B2B Tech News | 4 months ago        

Japan Signs 70 MOUs on Energy Transition at AZEC Ministerial Meeting

Japan inked seventy Memorandums Of Understanding MOUs on energy transformation during the Asia Zero Emission Community AZEC ministerial summit in Jaka

Japan inked seventy Memorandums Of Understanding MOUs on energy transformation during the Asia Zero Emission Community AZEC ministerial summit in Jakarta. With 11 partner nations, AZEC was proposed by Prime Minister Fumio Kishida in 2022 and inaugurated in 2023 to advance decarbonisation throughout Asia. According to Japans Minister of Economy, Trade, and Investment, Ken Saito, under a global South assistance program, $1 billion will be given to 14 of these projects. Through partnerships like Toyota Tshushos biofuels and green hydrogen initiative with Indonesias Pertamina, the MOUs aim to improve regional power networks and build sustainable fuel markets. The whole list of agreements is still under wraps. Read More..

B2B Tech News | 4 months ago        

HSBC Contemplates Sale of South African Operations Amid Strategic Shift

Bloomberg News revealed that HSBC Holdings is considering selling its operations in South Africa. Operating as a branch of HSBCs British division, the

Bloomberg News revealed that HSBC Holdings is considering selling its operations in South Africa. Operating as a branch of HSBCs British division, the company does not provide personal or retail services it specialises in commercial and investment banking. African, Chinese, and UAE buyers have shown interest in HSBC, which joined the South African market in 1995. HSBC has recently reduced its footprint in Western markets, including the U.S., France, and Canada. This move aligns with the banks larger strategy of concentrating on Asia and other countries of considerable size. When asked about the rumours, HSBC declined to comment. Read More..

B2B Tech News | 4 months ago        



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