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AFSM Launched to Provide Concessional Loans for DebtRidden Nations

The African Financial Stability Mechanism AFSM, which offers concessional loans to governments beset by debt, has been authorised by African leaders.

The African Financial Stability Mechanism AFSM, which offers concessional loans to governments beset by debt, has been authorised by African leaders. The African Development Bank AfDB will oversee the facility, which will have access to global money markets and its credit rating. The AFSM was proposed in 2022 to solve sovereign defaults and debt crises amid the COVID19 pandemic and the war in Ukraine. All member states of the African Union are eligible to join, which will be optional. The program aims to improve financial stability throughout Africa by providing sustainable loan options to faltering economies. The action was taken in response to the growing debt and urgent development demands of many African countries, which call for creative financial solutions to ensure economic growth and resilience. Read More..

B2B Tech News | 8 months ago        

India Boosts Trade with Russia via INSTC as Eastern Route Cuts Costs by 56%

Over the past year, commerce between India and Russia via the International NorthSouth Transport Corridor has increased, with India boosting exports t

Over the past year, commerce between India and Russia via the International NorthSouth Transport Corridor has increased, with India boosting exports to close the trade imbalance. The eastern route of the corridor, which passes through Kazakhstan and Turkmenistan, is now the most efficient, reducing the transit time from Moscow to the port of Bandar Abbas, Iran, to 16 days, which is three times quicker than it was previously. This routes transport costs have decreased by 56%, increasing trade volume by 1.7 times. Russian exports include paper goods, lumber, and food items, while critical Indian exports include clothes, rice, and building materials. With a goal of $100 billion by 2030, bilateral trade reached a record $66 billion in 2024. By March, Russia and Iran are expected to reach a deal to finish the RashtAstara railway, enhancing commercial ties even more. Read More..

B2B Tech News | 8 months ago        

Alpha Data to Launch Abu Dhabi’s First IPO of 2025, Aiming for $163M

In Abu Dhabis first initial public offering IPO in 2025, UAE technology services company Alpha Data hopes to raise $163.2 million. Four hundred millio

In Abu Dhabis first initial public offering IPO in 2025, UAE technology services company Alpha Data hopes to raise $163.2 million. Four hundred million existing shares, valued between 1.45 and 1.50 dirhams, are included in the offering, suggesting a market valuation of up to $408 million. The initial public offering IPO, which will only include shares from Bin Hamoodah and Ibbini Investment, will run from 15 February to 25 February. Trading is anticipated to start on 11 March. Alpha Data anticipates a dividend of 130 million dirhams $35.4 million in 2025. The companys 2024 net profit of 127 million dirhams on 2.32 billion dirhams in revenue was in line with the IPO boom in the Gulf area and efforts to diversify the economy. Read More..

B2B Tech News | 8 months ago        

JetBlue Seeks New Airline Partnership After Court Blocks American Alliance

Several airlines are negotiating a new collaboration with JetBlue Airways, and the airline is prepared to spend more money to seal a deal. Its "Northe

Several airlines are negotiating a new collaboration with JetBlue Airways, and the airline is prepared to spend more money to seal a deal. Its "Northeast Alliance" with American Airlines, which permitted revenue sharing and flight coordination, was blocked by the U.S. Court of Appeals. Cooperation would help JetBlue improve customer loyalty points, an area where it falls short of its rivals. Funds for partnerships are part of the airlines JetForward plan, which aims to increase EBIT by $800–$900 million by 2027 while enhancing network, reliability, and financial performance. JetBlue is open to agreements offering strategic and economic advantages, even though it acknowledges the Justice Departments concerns regarding competition. Read More..

B2B Tech News | 8 months ago        

Aramco Acquires 25% Stake in Unioil to Expand Philippine Retail Presence

A deal has been reached for Saudi Arabias Aramco to purchase a 25% share in Unioil Petroleum Philippines, a downstream fuels operator that operates fo

A deal has been reached for Saudi Arabias Aramco to purchase a 25% share in Unioil Petroleum Philippines, a downstream fuels operator that operates four storage terminals and 165 retail stations. No financial information was revealed. Aramcos plan to grow its retail network globally aligns with this acquisition, which comes after similar agreements in Chile and Pakistan. Aramco wants to expand its brand presence, including Valvolinebranded lubricants, to a few Unioil outlets and take advantage of the highvalue fuels markets predicted expansion in the Philippines. The transaction represents an additional step forward in Aramcos downstream growth plan. Read More..

B2B Tech News | 8 months ago        

IndiaQatar Relations Strengthen with $10B Investment Commitment

With a fiveyear plan to quadruple their bilateral trade from $14 billion to $28 billion, India and Qatar have upgraded their relationship to a strateg

With a fiveyear plan to quadruple their bilateral trade from $14 billion to $28 billion, India and Qatar have upgraded their relationship to a strategic alliance. This decision was made at a summit between Prime Minister Narendra Modi and Emir Sheikh Tamim bin Hamad AlThani of Qatar in New Delhi. Among the many agreements the two countries inked were a revamped double taxation avoidance agreement and a bilateral strategic partnership. They also signed agreements on youth issues and sports, archives and documentation collaboration, and economic relations. Trade, investment, energy cooperation, and regional issues were discussed, and both presidents shared their opinions on the IsraelHamas conflict. Qatar has also pledged to invest $10 billion in India to deepen economic ties further. Read More..

B2B Tech News | 8 months ago        

IndiaUAE Trade Surges 21.35% to $80.51B, Boosted by CEPA

During the April–January fiscal year 2024–2025, bilateral trade between India and the United Arab Emirates UAE increased significantly by 21.35%,

During the April–January fiscal year 2024–2025, bilateral trade between India and the United Arab Emirates UAE increased significantly by 21.35%, reaching USD 80.51 billion. The UAE had a 35.58% increase in imports to USD 50.51 billion, while Indias exports to the UAE increased 6.82% to USD 30 billion. The implementation of the May 2022 Comprehensive Economic Partnership Agreement CEPA is mainly responsible for this rise. Notably, over half of the overall trade volume was made up of nonoil goods. Since the CEPAs establishment, almost 240,000 certificates of origin have been granted, enabling exports to the UAE valued at USD 19.87 billion. Read More..

B2B Tech News | 8 months ago        

Mitsui Acquires 40% Stake in Rio Tinto’s Rhodes Ridge for $5.34B

For $5.34 billion, Mitsui & Co. will purchase a 40% share in the Rhodes Ridge iron ore project in Western Australia, which Rio Tinto runs. The project

For $5.34 billion, Mitsui & Co. will purchase a 40% share in the Rhodes Ridge iron ore project in Western Australia, which Rio Tinto runs. The project contains 6.8 billion metric tonnes of resources, making it one of the worlds most significant untapped iron ore deposits. According to Mitsui, manufacturing will start in 2030 and initially produce 16 million tonnes per year, possibly growing to 40 million tonnes. For cost savings, the business intends to use the infrastructure already in place from its Robe River stake. The iron ore will be combined with Rio Tintos supply for shipping to Asia. Following the transaction, Rio Tinto will keep 50% of the business, Mitsui 40%, and AMB Holdings 10%. Read More..

B2B Tech News | 8 months ago        



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