Category : Business

Brazil’s “growth acceleration” plan, known as PAC, has been reintroduced, with a projected 1.7 trillion reais ($347.5 billion) in investments. This new initiative is set to leverage an extensive public-private partnership framework. Alongside, the government aims to drive an ecological transition, enhancing the country’s green credentials, as disclosed in an official......

SK Telecom Co., South Korea’s premier wireless service provider, announced a strategic $100 million investment in U.S.-based artificial intelligence (AI) powerhouse, Anthropic. This move underscores the telecom giant’s commitment to broaden its influence in the AI landscape. San Francisco’s Anthropic, renowned for its cutting-edge AI safety research and offerings like AI......

China’s economic landscape is undergoing a seismic shift as it witnesses deflation for the first time since early 2021. Official data reveals a 0.3% decline in the consumer price index for July. This downturn trails reports from the previous day which indicated falling exports and imports. Taken as a whole,......

In a staggering turnaround, WeWork, once pegged at a valuation of $47 billion, saw its shares plummet to near zero. The company sounded the bankruptcy alarm, marking a monumental downfall for a startup that was once the apple of the investment world’s eye. Founded with much fanfare, WeWork’s business strategy revolved......

The economic prospects of India, the world’s largest democracy, are poised to reach new heights with an expected annual growth rate of 6.7% from 2024, according to a report by leading research and analytics firm, Standard & Poor Global. This growth trajectory is projected to elevate India to a $6.7 trillion......

Egypt’s economy has demonstrated significant resilience and growth, as indicated by a marked reduction of 61.2% in its current account deficit, down to just US$ 5.3 billion. This figure, reported in the Central Bank of Egypt’s Balance of Payments Performance for July/March of the fiscal year 2022/2023, compares favorably to a deficit......

Prime Minister Narendra Modi launched the grand International Exhibition cum Convention Centre – Bharat Mandapam in New Delhi, proudly asserting it as a symbol of India’s vibrant and flourishing democracy. As India celebrates its 75th year of independence, the inauguration of this architectural marvel stands as a testament to the country’s vast strides......

In a setback to the vibrant housing sector, the U.S. saw a slight dip in new single-family home sales in June, after a triumphant surge over three consecutive months. The overarching trend, however, remains resilient, buoyed by the enduring demand driven by a significant dearth of pre-owned homes. The Commerce Department reported......

Masdar and Iberdrola have entered into a strategic agreement to co-invest in Baltic Eagle, a 476-megawatt (MW) offshore wind farm situated in the German Baltic Sea. Under the terms of the agreement, valued at around €1.6 billion, Iberdrola will retain a majority 51% stake in the asset, facilitating a boost in Europe’s green energy......

Mubadala Energy, a global energy player, and Pertamina, Indonesia’s state-owned integrated energy firm, have joined forces. The collaboration focuses on energy transition initiatives, specifically exploring the potential of carbon capture, utilisation, and storage (CCUS) applications in Indonesia. The partnership aligns with Mubadala Energy’s mission to spearhead the energy transition and discover innovative energy solutions.......