Sources say that Brazil is aiming to attract foreign investment through a green development platform.
Brazil will launch a new platform on Wednesday to attract more foreign investment into sustainable development. The platform will highlight $8 billion worth of promising private sector projects, and look to triple this portfolio within a year. Four Brazilian officials who spoke anonymously about the program before a Washington launch event, held on the sidelines the meetings of the International Monetary Fund (IMF) and World Bank…
Financial Times - Oct 16
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. BBC, the British broadcaster, has announced plans for 155 job cuts across its news operations. This is part of a larger cost-cutting plan worth 700 million pounds (915 million dollars). Woodside Energy, an Australian oil and natural gas company…
IMF predicts a slowdown in the economic growth of Mexico between 2024 and 2025
The International Monetary Fund said on Tuesday that it expects Mexico's economy to grow at around 1.5% in this year. It cited capacity constraints and a tight monetary policy. The IMF stated in a press release that the growth rate is expected to slow down next year, reaching just 1.3%. At the same time, inflation is predicted to be close to the 3% target set by the central bank. Banxico is the name of Mexico's central banking institution.
The stability council of Mexico says that the financial system in Mexico is robust and stable.
The Mexican Financial Stability Council believes that Latin America's number one economy's financial system is strong and resilient. According to a statement from the central bank on Friday, Mexico's No. 2 economy is resilient and solid, despite global growth being expected to be slightly lower than last year. The Council said that the Mexican banking industry's capital and liquid levels "far exceeded" regulatory minimums…
According to a Nasscom-Zinnov study, India's global center market will grow to $105 Billion by 2030.
According to a report released by the IT industry association Nasscom on Wednesday, India's Global Capability Centres (GCCs), which were valued at $64.6 billion during fiscal 2024 will likely grow to between $99 and 105 billion dollars by 2030. India's GCCs are no longer low-cost outsourcing centers, but local offices that support their parent companies in multiple areas, such as daily operations, finance and research and development.
British Business – Sept 10,
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. BP engineers will now be required to take faster decisions based on AI-generated information about oil and natural gas exploration, following a recent agreement with Palantir Technologies. Hostmore, a British restaurant operator…
Taiwan's TCC receives Italian approval to take energy storage company NHOA private
TCC Group Holdings, a Taiwanese company, announced on Friday that it has received approval from the Italian government to privatize energy storage firm NHOA. The Italian government has "golden powers" to block or impose conditions on foreign and local takeovers as well as changes in governance affecting companies operating in strategic sectors like energy, telecoms, and banking. The…
Rosneft CEO blasts high taxes, Rosneft's H1 earnings are up 27% year-on-year
Rosneft, Russia's biggest oil producer, said that its net income for the first half of this year rose by 27% compared to last year. Sales also increased. Company chief Igor Sechin referred to rising taxes as "destructive". The revenue for the period January to June was 5.174 trillion roubles. This is an increase of 33.4% compared to the previous year. Rosneft is responsible for 40% of Russia’s oil production. It managed to divert sales to India and China, away from Europe.
London's FTSE 100 continues to recover on the back of financials and corporate earnings
London stock markets rose broadly for the second consecutive session on Wednesday. Gains in financial stocks, and positive corporate earnings helped the indexes recover most of their losses earlier this week. The blue-chip FTSE 100 ended the day 1.8% higher, its highest showing in over four months. Meanwhile, the mid-cap FTSE 250 closed 1% up. Gains were made as the global appetite for risk improved following the Bank of Japan's unexpected reluctance to raise rates.
Floating Solar: DNV Advises on Indonesian Floating Solar Photovoltaic Project
Floating solar photovoltaic (PV), initially considered a niche technology, is now the fastest-growing solar PV category, alongside ground-mounted utility-scale solar and rooftop PV. As of August 2020, more than 60 countries have actively pursued the deployment of floating PV, with more than 35 installing an estimated 350 operational floating PV systems, equal to a total 2.6 GW of installed capacity.
Markets: Oil Rises as Inventories Expected to Fall
Oil rose on Tuesday on expectation of a continuous decline in U.S. oil inventories, recouping some losses from the previous session due to lingering concern over rising cases of the Delta coronavirus variant.Brent, the international benchmark for oil prices, rose 60 cents, or 0.8%, to $73.49 a barrel, at 0905 GMT.U.S. West Texas Intermediate (WTI) crude was up 63 cents, or 0.9%, at…
Report says BHP Mulls Oil & Gas Exit
Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter.The world's biggest miner is reviewing its petroleum business and considering options including a trade sale, the report said, adding that the deliberations were…
US-China Cold War Would Redirect Energy Flows
Worsening diplomatic relations between the United States and China are putting a spotlight on their economic inter-dependency in the context of global supply chains for both technology and energy.Top policymakers in the United States and some of its closest allies, including Australia and Britain, have recently hardened the language in which they describe relations with China.China…
Total Secures $14.4 Bln Funding for Mozambique LNG
French energy major Total has secured $14.4 billion funding for its Mozambique liquefied natural gas project in Mozambique, two sources said on Wednesday.A source with knowledge of the matter said Total has reached a financing agreement with a group that includes around 20 lenders for the first phase of senior debt funding of $14.4 billion. The source did not specify the name of the banks involved in the financial arrangement.Total declined to comment.
Saudi Aramco IPO Proceeds Rise to $29.4 Bln
The proceeds from Saudi Aramco's record initial public offering have risen to $29.4 billion after the oil company exercised an option to sell 15% more stock, an executive at one of the banks leading the deal told Al Arabiya news channel on Monday.Wassim Al Khatib, head of investment banking at the investment arm of Saudi Arabia's biggest bank, National Commercial Bank, said the state-controlled oil giant had exercised the so-called over-allotment option.Aramco's main IPO rais
Timeline: Saudi Aramco's Winding Road to IPO
State-run oil giant Saudi Aramco has priced its initial public offering (IPO) at the top of its indicative range, making it the world's biggest flotation by raising more than Alibaba's $25 billion listing in 2014.Here are key events in the Saudi state oil giant's planned stock market debut.Dec 5, 2019 - Saudi Aramco announces the offering generated subscriptions of $106 billion by institutional investors and together with the total demand from individual Investors…
Chevron Seeks to Shrink Nigerian Presence
Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S.
WFW Advises on Race Bank Wind Farm Deal
Watson Farley & Williams (WFW), an international law firm based in London, said that it has advised Race Bank Wind Farm Limited on its USD 608 million sale of transmission system assets relating to the 573 MW Race Bank offshore wind farm to Diamond Transmission Partners.Race Bank is a joint venture owned by Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), a fund established by Sumitomo Corporation…
Mozambique Eyes $880 Mln in Tax from Anadarko Takeover
Mozambique is targeting $880 million in capital gains tax from the takeover of Anadarko Petroleum by Occidental Petroleum, local newspaper O Pais reported on Friday.Anadarko led a liquefied natural gas project in the southern African country, but it was replaced by Total after the French oil major agreed to buy Anadarko's African assets as part of the Occidental takeover.President Filipe Nyusi announced the capital gains tax target after he met Occidental and Total managers i
Oil Companies Push Carbon-capture Efforts
A group of 13 major oil companies charted out a plan on Monday to promote investments in carbon capture, use and storage (CCUS), ahead of a gathering in New York.Oil chiefs grappling with growing demand for action to fight climate change have looked to invest in carbon-capture and sequestration techniques that some executives, including Occidental Petroleum Corp CEO Vicki Hollub, say could make drilling carbon neutral.With fossil fuel development growing worldwide…
