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Vedanta to invest 2 billion dollars in Saudi copper projects

Vedanta, led by Anil Agarwal, is set to invest $2 billion in copper projects in Saudi Arabia, including a smelter and refinery with a capacity of 400,000 metric tons per year. The initiative aligns with the growing demand for copper and Saudi Arabia's industrial growth strategy, with operations expected to begin in 2026. A $30 million copper rod mill project will kick off the venture, producing 125 kilotons annually.
Moneycontrol
United States Dollar Vedanta Limited IND SAU Chris Griffith Anil Agarwal
Finance & Economy, Press Release
12:51 26.11.2024

trump's tariff threats spark volatility in currency markets and investor caution

The potential for significant currency market volatility looms as President-elect Trump threatens to impose tariffs on Mexico, Canada, and China, with strategists warning that these moves may serve more as negotiation tactics than actual policy. Analysts predict that such tariffs could lead to a stronger U.S. dollar and increased pressure on foreign currencies, particularly the Mexican peso, which could see dramatic shifts in response to tariff announcements. The market anticipates a prolonged negotiation process, with the possibility of retaliatory measures complicating the landscape further.
CNBC
Mexican Peso British Pound Sterling United States Dollar Canadian Dollar Chinese Yuan ING Citizens, Inc. Maersk The Goldman Sachs Group, Inc. Truth Social Pictet Asset Management AG USA CHN CAN MEX GBR Luca Paolini Scott Bessent Luis Costa Donald Trump Kamakshya Trivedi Claudia Sheinbaum Chris Turner Show more
Finance & Economy, Market Report
12:44 26.11.2024

Iraq Russia and Saudi Arabia Discuss Energy Markets Ahead of OPEC Meeting

Officials from Iraq, Russia, and Saudi Arabia convened in Baghdad to discuss energy markets ahead of the OPEC+ meeting. Iraqi Prime Minister Mohammed Shia Al-Sudani met with Russian Deputy Prime Minister Alexander Novak and Saudi Energy Minister Prince Abdulaziz bin Salman to address key issues impacting the alliance.
bloomberg.com
Saudi Aramco Gazprom SAU IRQ RUS Alexander Novak Abdulaziz bin Salman Al Saud Mohammed Shia' Al Sudani Show more
Finance & Economy, News Article
12:41 26.11.2024

banco bpm rejects unicredit bid citing low valuation and job concerns

Banco BPM SpA has rejected UniCredit SpA's takeover bid, stating it was not pre-agreed, undervalues the bank, and could negatively impact jobs and competition in Italy. The board unanimously deemed the offer inadequate, emphasizing the potential for greater value creation for shareholders.
bloomberg.com
UniCredit S.p.A. Banco BPM S.p.A. ITA
Finance & Economy, Press Release
12:41 26.11.2024

Swiggy shares rise 7 percent as UBS initiates buy rating

Swiggy's share price surged 7% following UBS's initiation of coverage with a 'buy' rating, citing a price target based on discounted cash flow and multiples. Analysts noted that Swiggy's market share is stabilizing, with volume growth in 2024 aligning with industry trends and improving margins. They project Swiggy's GMV growth from FY24-27E to match Zomato's, with adjusted EBITDA margins reaching 2.8% by FY27E.
@bsindia
SWIGGY LIMITED Zomato Limited IND
TradFi, Market Report
12:39 26.11.2024

vedanta to invest two billion dollars in saudi copper projects

Vedanta plans to invest $2 billion in Saudi Arabia to establish copper-processing facilities, enhancing the kingdom's goal of becoming a global metals and mining hub. The investment includes a new smelter and refinery with a capacity of 400,000 metric tons per year, along with a facility to produce 300,000 tons of copper rods annually, essential for electric cables.
bloomberg.com
United States Dollar Vedanta Limited IND SAU Anil Agarwal
Finance & Economy, Press Release
12:30 26.11.2024

Andhra Pradesh pauses Adani power deal amid U.S. indictment concerns

Andhra Pradesh is expected to suspend its power purchase agreement with the Adani Group due to the recent indictment of Gautam Adani in the U.S. This decision reflects the state's response to the legal challenges facing the conglomerate.
reuters.com
Adani Group IND Gautam Adani
Regulatory & Legal, News Article
12:19 26.11.2024

European refiners launch synthetic oil plants from waste plastic

TotalEnergies SE and OMV AG are set to launch plants that will convert waste plastic into synthetic oil, aiming to reduce emissions in chemical production. This innovative approach of returning used plastics to a liquid oil state is gaining traction as a viable alternative to traditional mechanical recycling methods.
bloomberg.com
TotalEnergies SE OMV AG AUT
Technology & Innovation, News Article
12:15 26.11.2024

india's medtech sector poised for growth through innovation and digital integration

India's MedTech sector, valued at USD 12 billion in 2023, is projected to reach USD 50 billion by 2030, driven by digital integration in over 70% of innovations from startups. Key growth factors include changing disease patterns, demographic shifts, and supportive government initiatives, positioning India as a global hub for MedTech innovation.
Medical Buyer
United States Dollar EY EY Parthenon Apple Inc. IND Suresh Subramanian Show more
Technology & Innovation, Market Report
12:14 26.11.2024

amazon's growth prospects amid competition and regulatory challenges

Amazon continues to excel in e-commerce and cloud computing, bolstered by strong profit margins from infrastructure investments and an expanding advertising business. While facing intensified competition and regulatory scrutiny, the company's focus on AI and operational efficiency positions it for long-term growth. Investors should keep an eye on AWS growth, retail competition, and regulatory developments.
IG
United States Dollar Amazon.com, Inc. Temu USA
TradFi, Market Report
12:10 26.11.2024
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