DIRS.INFO The most relevant business & tech news

☆ PG&E Seeks Approval to Sell Stake in Its Power Operations
▼ + stars: | 2024-04-30 | by ( Ivan Penn | More About Ivan Penn | ) www.nytimes.com time to read: +1 min

Pacific Gas & Electric announced plans on Tuesday to sell a minority stake in its power-generation business, part of its strategy to reduce electricity rates, continue wildfire prevention and further develop clean energy. The exclusive deal with the global investment firm KKR is part of PG&E’s plan to transfer its nonnuclear power generation to a newly formed subsidiary, Pacific Generation. The proposals for the subsidiary and the KKR stake require approval by the California Public Utilities Commission and the Federal Energy Regulatory Commission. KKR, which manages $59 billion in assets, operates a global infrastructure business with expertise in the utility and renewable energy industry. PG&E said in a statement that the investment firm’s access to capital gave it the ability to take a long-term approach in its strategies.

Persons: ” Carolyn Burke Organizations: Gas & Electric, KKR, Pacific, California Public Utilities Commission, Federal Energy Regulatory Commission

☆ Larry Fink's big bet: BlackRock is planning to power the AI revolution
▼ + stars: | 2024-04-12 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

BlackRock CEO Larry Fink discussed the firm's acquisition of Global Infrastructure Partners Friday. The billionaire stressed how much energy AI needs and the infrastructure needed to support it. The $10.5 trillion manager expects the $12.5 billion deal to close in the third quarter. BlackRock CEO Larry Fink wants to be his firm to be the foundation. Now, the next "transformational" moment for BlackRock will be building the necessary foundation for other companies to transform their businesses.

Persons: Larry Fink, Fink Organizations: BlackRock, Global Infrastructure Partners, Barclays, Business

☆ Larry Fink is concerned about the youth. Here are 5 key takeaways from the BlackRock CEO's letter to investors.
▼ + stars: | 2024-03-26 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +8 min

Fink, the chief executive of BlackRock, used his annual investor letter to warn of a looming "retirement crisis" facing the US and raise his concerns about disillusioned young people. This triggered criticisms on both sides of the aisle and became a major headache for Fink and the firm. He has avoided using the term ESG and repeatedly emphasized that BlackRock works with energy firms. Fink, who is 71 and has kept Wall Street guessing on his own retirement, also got personal with this letter. Fink is focused on "Energy pragmatism"The biggest opportunity in infrastructure, according to Fink, is around energy.

Persons: Larry Fink, Fink, . Fink, I've, Australia Fink Organizations: BlackRock, Business, DuPont, Cal Northridge, University of Michigan, Gen, Global Infrastructure Partners, Texas Permanent School Fund Locations: Calpers, Ottoman Empire, Australia, BlackRock, decarbonization

☆ India is the new Asia growth story. Here’s why investors are bullish on the outlook
▼ + stars: | 2024-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

As China's property market and deflation woes continue to rattle investors, India's growth outlook appears all the more impressive. Last year's annual report attributed strong revenue growth partially to expansion in the Middle East, India, and Asia, Krishna wrote. "More than revenue, India is an important area for sourcing talent" as well, Krishna wrote. Growth potential For investors looking to gain exposure to the domestic stock market, Indian equities themselves aren't especially cheap though. "You're paying for the growth potential in India, certainly.

Persons: Morgan Stanley, Chetan Ahya, Ahya, Bernstein, —, Narendra Modi, Bill Fitzpatrick, Fitzpatrick, Quincy Krosby, Venu Krishna, Aecom, Krishna, Tim Long, Long, Simon Coles, Krosby, Jeffrey Gundlach, Gundlach, CNBC's, — CNBC's Michael Bloom Organizations: Investment, Logan Capital Management, Modi, Infrastructure Pipeline, Aecom, Barclays, Cisco Systems, Juniper Networks, India —, Semiconductor, Micron Technology, Qualcomm, Logan Capital Locations: India, China, Asia, Philadelphia, South Carolina . U.S, Dallas, East, Asia Pacific, Japan, Coles , U.S, U.S, IShares

☆ BlackRock loses top infrastructure investor to Manulife amid executive shakeup
▼ + stars: | 2024-02-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

Valentine Andrews, 52, will report to Lorentz and lead the firm's "next era of private markets growth," he wrote. She will remain in New York City, where Manulife's private equity and private credit teams are based. Valentine Andrews joined BlackRock in 2014 from Morgan Stanley, where she spent seven years and helped establish the firm's infrastructure-investing platform. She previously worked at Macquarie Bank, the firm known for its infrastructure investments, in Melbourne and New York. "I like to think about living life in chapters," Valentine Andrews wrote in a post on LinkedIn last month.

Persons: CQS, Anne Valentine Andrews, Paul Lorentz, Valentine Andrews, Lorentz, Angelo Gordon, Nuveen, BlackRock, Edwin Conway, Salim Ramji, Vipon, Brian Kernohan, Marc Feliciano, Morgan Stanley Organizations: Manulife Investment Management, Business, BlackRock, Manulife, Investment, Global Infrastructure Partners, TPG, Macquarie Bank, LinkedIn Locations: Toronto, Massachusetts, Manulife, New York City, Melbourne, New York

☆ A fund manager who has beaten 99% of his peers over the last decade breaks down how he finds value investments where others don't, and the 2 sectors he's looking for opportunities in this year
▼ + stars: | 2024-02-03 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

Consistently beating the competition over a decade and a half is a sign that Bill Nygren is worth listening to. Instead, he uses good old-fashioned value investing techniques that have proven reliable for decades, even as they've evolved. Nygren added: "It's clearly not a value stock, but when you make those adjustments it sells at less than a market multiple. Advertisement2 sectors to invest in right nowThe average investor would be forgiven for looking around the market right now and struggling to find value. Advertisement"And I think value investors have been a natural home for a lot of the financial industry because the industry's typically traded at something like three-quarters of the S&P multiple," Nygren said.

Persons: Bill Nygren, Nygren, there'd, you've Organizations: Oakmark, Oakmark Fund, Business, Big Tech, Capital, Intercontinental Exchange, American International Group, AIG

☆ Stocks to buy for the next leg of the bull market, according to a money manager who helps run $1 trillion
▼ + stars: | 2024-01-19 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The S & P 500 just notched a record high to declare its bull market status, but according to one money manager who helps oversee more than $1 trillion, there are a few names investors could focus on for the next leg of the cycle. "We're concerned about U.S. consumers, who are burdened by record levels of credit card debt at elevated interest rates." .SPX 1Y mountain S & P 500 The S & P 500 , which hit an all-time intraday peak on Friday, roared back at the end of 2023, notching a 24% gain for the year. Infrastructure stocks Malik believes that global infrastructure companies benefit from inelastic demand for the necessary services they provide, and are thus insulated from most recession risks. "Both dividend growth and global infrastructure stocks have historically weathered down markets relatively well," Malik said.

Persons: Saira Malik, Malik, that's, Linde Organizations: Investors, Fed, CNBC Pro, Motorola Solutions, Deutsche Bank, Motorola, CMS Energy Locations: Jackson, Michigan

☆ What Wall Street bosses from Goldman Sachs to JPMorgan are saying about the jobs outlook for 2024 in investment banking, wealth management, and more
▼ + stars: | 2024-01-16 | by ( Emmalyse Brownstein | Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +11 min

Last year, banks opened 2023 by forecasting layoffs, including for the investment bankers who suddenly had nothing to do following the pandemic-era M&A and IPO boom. Citigroup kicked off 2024 ominously, warning that it will lay off as many as 20,000 employees by 2026. The bank expects 2024 expenses to increase further to total $90 billion, up $2.8 billion from 2023, and much of that will be focused on hiring. CFO Barnum on Friday said the bank is gearing up for a "rebound in the investment banking wallet." Headcount declined 3% to 80,006 from 82,427, while compensation expenses rose to $24.5 billion from $23 billion.

Persons: It's, it's, Jane Fraser, Jeremy Barnum, JPMorgan Chase Jamie Dimon, JPMorgan Chase, Alex Wroblewski, JPMorgan's headcount, Barnum, Friday, Patrick T, Fallon, —, Fraser, Q, Goldman Sachs Goldman Sachs, David Solomon, BRENDAN MCDERMID, Goldman Sachs, Denis Coleman, Coleman, Goldman, Bank of America Brian Moynihan, Robert Galbraith, headcount, BofA, Alastair Borthwick, execs, they've, Brian Moynihan, Wells Fargo Charles Scharf, Lucy Nicholson Wells Fargo, Michael Santomassimo, Charlie Scharf, Santomassimo, BlackRock Larry Fink, Fink, Kapito, Morgan Stanley Ted Pick, Morgan Stanley, Jeenah, Headcount, Morgan, Ted Pick, Sharon Yeshaya, Blackstone Steven Schwarzman, Blackstone, Gonzalo Fuentes Organizations: Business, Citigroup, JPMorgan, Citi, BlackRock, Blackstone, Getty, AlphaSense, Citigroup Citigroup, Bank of America, REUTERS, Robert, Robert Galbraith Bank of America's, Reuters, AP BlackRock, Global Infrastructure Partners Locations: Wall, headcount, Wells Fargo

☆ Larry Fink just kicked off the last chapter of his BlackRock reign
▼ + stars: | 2024-01-12 | by ( Michelle Abrego | Rebecca Ungarino | ) www.businessinsider.com time to read: +6 min

This all comes as Larry Fink, 71, is entering what is likely the last chapter of a successful career as cofounder and chief executive of $10 trillion BlackRock. Here's everything you need to know:BlackRock is set to buy Global Infrastructure Partners in its biggest deal in 15 yearsThroughout 2023, Fink signaled that a "transformational deal" was on the cards. He found his target in private equity firm and infrastructure investor Global Infrastructure Partners, the firm announced on Friday. Jessica Tan, head of BlackRocks' sustainability and transitions strategy, will head the global product solutions team in the Americas. Charles Hatami, global head of the financial and strategic investor group that focuses on relationships with large investors like insurers and sovereign wealth funds, will join BlackRock's global executive committee.

Persons: Larry Fink, Fink, Rob Kapito, BlackRock iShares, GIP, Kapito, Goldman Sachs, Goldman, David Solomon's, Ogunlesi, Wells, Mike Mayo, Larry, Stephen Cohen, Salim Ramji, Jessica Tan, Jane Sloan, GIP's, Edwin Conway, Conway, Rachel Lord, Lord, Charles Hatami Organizations: Business, BlackRock, Global Infrastructure Partners, GIP, London Gatwick, Wall Street, Asia Pacific, Securities, Exchange Commission Locations: Sydney, Bayo, Ogunlesi, BlackRock, Americas, Europe, East, India, Asia, Pacific

Now the company plans to go big on the business of investing in airports, bridges, oil pipelines and more. Alongside announcing its quarterly earnings, the firm said on Friday that it would acquire Global Infrastructure Partners for about $12.5 billion in cash and stock. The deal is BlackRock’s biggest takeover since 2009, when it bought Barclays Global Investors for $13.5 billion and became the world’s biggest provider of index funds. It’s a major bet by BlackRock on infrastructure, in which financial firms invest in, or take over and run, assets like tunnels, highways, and oil and gas networks. “Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects,” Larry Fink, BlackRock’s chairman and C.E.O., said in a statement.

Persons: ” Larry Fink Organizations: Global Infrastructure Partners, Barclays Global Investors, BlackRock Locations: BlackRock, It’s

Even including the sale of Heathrow, this year is the slowest for airport transactions in the past decade, totalling $5.9 billion globally to date, according to Dealogic data. They have hired Mediobanca (MDBI.MI) and Credit Agricole (CAGR.PA) to find a buyer for a sale of their 49% stake in the company, the people said. Heathrow's sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis published on Wednesday. UK's Esken (ESKN.L), owner of regional Southend Airport, said in June it had started a process for the sale of the airport. On Thursday, Hungary's state-owned Corvinus and Vinci Airports notified the European Commission of a proposed joint takeover of Budapest's airport, according to a document posted on the EU website.

Persons: Andras Kranicz, GIP, Australia's Macquarie, Spain's, Ferrovial, Agata Lyznik, Mediobanca, Gianni, Origoni, Nico Torrisi, Morgan, UK's, France's Vinci, Vinci, Corvinus, Emma, Victoria Farr, Andres Gonzalez, Elisa Anzolin, Joanna Plucinska, Mathieu Rosemain, Anousha Sakoui, Elaine Hardcastle Organizations: LONDON, Heathrow, BNP, Global Infrastructure Partners, AGS Airports, Southampton, Australia's, International, ACI, Airports, Macquarie, Credit Agricole Assurance, 2i, Credit, SAC, Gatwick, Southend Airport, Global Infrastructure Fund, Vinci Airports, European Commission, EU, Thomson Locations: Edinburgh, Italy, FRANKFURT, Spanish, Europe, Aberdeen, Glasgow, Heathrow, France, Hungary's, Budapest's

☆ Canada's Brookfield raises record $28 billion for infrastructure fund
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Dec 1 (Reuters) - Canada's Brookfield Asset Management (BAM.TO) said on Friday it had raised $28 billion for its largest-ever fund, wagering on infrastructure assets the company believes would benefit from a shift to "deglobalization", given recent geopolitical tensions. Brookfield said the fund has already deployed 40% of its capital in six investments including renewable, transport, data center and telecom tower assets. The company, which manages over $850 billion in assets, said it had also raised $2 billion for related co-investment vehicles. Besides "deglobalization", Brookfield's latest fund will also focus on infrastructure assets tied to digitalization and decarbonization, the company said. The company had raised $20 billion for its previous global infrastructure fund in 2020.

Persons: Brookfield, Niket, Pooja Desai Organizations: Brookfield Asset Management, Thomson Locations: Brookfield, Ukraine, Bengaluru

WASHINGTON (AP) — President Joe Biden is hosting Angolan President João Manuel Gonçalves Lourenço in the Oval Office on Thursday as he seeks to reaffirm his commitment to Africa even as two wars consume much of his administration's foreign policy focus. The visit comes as Biden appears set to break his commitment to African leaders to visit the continent this year — though senior U.S. officials have made key trips to Africa throughout 2023. This is a fundamental shift in Angolan foreign policy,” lobbyist Robert Kapla wrote in April to Biden confidant Amos Hochstein, according to lobbyist disclosure records. It's part of a global infrastructure program championed by Biden that is meant as a counterweight to China's Belt and Road initiative. Much of Biden's recent foreign policy focus has been on Russia's war in Ukraine and the fighting between Israel and Hamas.

Persons: Joe Biden, João Manuel Gonçalves Lourenço, Angola's, Biden, ”, John Kirby, Lourenço, Robert Kapla, Amos Hochstein, Kapla, Molly Phee, “ Organizations: WASHINGTON, Angolan, Security, Biden, U.S, Democratic Locations: Africa, United States, China, Russia, Angolan, Lobito, Kananga, Democratic Republic of Congo, Zambia, It's, Ukraine, Israel, U.S

☆ Israel-Gaza Conflict Challenge to US-Backed Economic Corridor - India Minister
▼ + stars: | 2023-11-15 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The Israel-Gaza conflict is a "worrying manifestation" of geopolitical challenges for the U.S.-backed multinational economic corridor, India's finance minister Nirmala Sitharaman said on Wednesday. In September, global leaders announced a rail and ports deal linking the Middle East and South Asia, as the U.S. seeks to counter China's Belt and Road push on global infrastructure with a new economic corridor. The proposed corridor will pass through Israel, which has been engaged in a fierce conflict with Hamas in the Gaza strip, in retaliation for the militants' cross-border assault into Israel on Oct. 7. "It (the corridor) is not without its geopolitical challenges and the ongoing conflict in Israel and Gaza is a worrying manifestation of these," Sitharaman said during a conference. (Reporting by Shivangi Acharya; Writing by Kanjyik Ghosh; Editing by Muralikumar Anantharaman and Christian Schmollinger)

Persons: Nirmala Sitharaman, Sitharaman, Shivangi Acharya, Kanjyik Ghosh, Muralikumar Anantharaman, Schmollinger Organizations: Reuters, U.S Locations: Israel, Gaza, East, South Asia, U.S

☆ China has a sweeping vision to reshape the world — and countries are listening
▼ + stars: | 2023-11-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +23 min

All this coincides with longstanding calls from countries across the developing world for an international system where they have more say. Beijing, he added, sees the US as merely “paying lip service” to the “liberal order” to hurt other countries. Sergei Savostyanov/Sputnik/ReutersIn recent years, even some countries that have for decades embraced a close partnership with the US have drawn closer to China and its vision. “Is China really trying to promote multipolarity — or does China just want to (become a) substitute (for) US influence over the world?” he asked. They also raise questions about how a more militarily and economically powerful China would behave globally, if left unchecked.

Persons: Xi Jinping, —, Xi, Vladimir Putin, General Antonio Guterres, ” Xi, , Shen Hong, they’d, ”, Yun Sun, liberalize, Sanjit Das, Shen Dingli, ‘, ’ ”, Russia’s Putin, Bashar al, Assad —, Assad’s, Sergei Savostyanov, Ali Sarwar Naqvi, “ We’ve, James Marape, ’, Rubens Duarte, Li Zhiquan, “, Tong Zhao, Zhao, Ted Aljibe, Luiz Inácio Lula da Silva, Zhang Youxia, Beijing’s, Gilberto Teodoro Jr, BRICS, Weeks, Joe Biden, Sergio Lima, ” — Organizations: Hong Kong CNN, United Nations, Forum, China, Communist, CNN, Beijing, Washington, Getty, Stimson, Bank, World Trade Organization, . Riot, Bloomberg, Initiative, Asian, Global, Sputnik, Reuters, Center for International Strategic Studies, Papua New Guinea, multipolarity, China News Service, Carnegie Endowment, International Peace, Global Security Initiative, NATO, Russia, Philippine Defense, Shanghai Cooperation Organization, United, New, Seven, Ministry, Global Security, Group, UN, Communist Party Locations: China, Hong Kong, Beijing, United States, Ukraine, Gaza, Russian, Xinhua, Washington, South, Taiwan, Tibet, Xinjiang, America, Shanghai, West, Hangzhou, Israel, Pakistan, Pakistani, Islamabad, Papua New, Brazil, Indonesia, Europe, Asia, Scarborough, South China, AFP, Moscow, Russia, “, Saudi Arabia, Iran, Palestine, India, South Africa, Argentina, Egypt, Ethiopia, United Arab Emirates, New Delhi, Southeast Asia, Latin America, Caribbean, ” Beijing

COLOMBO, Sri Lanka (AP) — The U.S. announced a $553- million project Wednesday to build a new, deep-water shipping container terminal in the Port of Colombo as it competes with China in international development financing. The U.S.-backed financing comes at a time when Sri Lanka is struggling to recover from a dire financial and economic crisis. Sri Lanka borrowed heavily from China to build the port and other infrastructure including an airport and a city being built on reclaimed land. Both neighboring India and China are jostling for influence in Sri Lanka and both have already invested in expanding facilities at the Colombo port. Colombo port also has a terminal run by China Merchants Port Holdings.

Persons: ”, Scott Nathan, Sri Lanka’s John Keells, Lanka’s, Wang Wenbin, William & Mary, AidData, China's, saysChina, Bradley Parks, “, ” ___ Didi Tang Organizations: South, U.S . International Development Finance Corp, West, Local, Sri, Sri Lanka’s John Keells Holdings, Initiative, Foreign Ministry, China Merchants Port Holdings, CHEC Port City Colombo Co, China Communications Construction Company, William & Locations: COLOMBO, Sri Lanka, U.S, Port, Colombo, China, Bay, Bengal, Beijing, Hambantota Port, Hambantota, India, oceanside, Port City, Virginia, “ Beijing, Washington

“This year, overall views of the United States are much more positive than views of China in most places surveyed,” the report said. The 2019 survey recorded a median of 55% across 22 countries showing favorable views of the U.S., compared to a median of 39% of China. Of the same countries in 2023, medians of 58% and 21% had positive views of the U.S. and China, respectively. Then, a median of 53% across 15 countries reported favorable views of the U.S., compared to a median of 43% with favorable views of China. In 2023, medians of 59% and 27% across the same countries had favorable views of the U.S. and of China, respectively, according to Pew.

Persons: Joe Biden, “, Xi Jinping, Biden, Pew, Camp David, ”, Laura Clancy, Clancy, Donald Trump, Xi, Biden –, George W, Bush, China’s, Hu Jintao, — Organizations: WASHINGTON, Pew Research Center, China, Pew, Camp, Initiative, U.S Locations: United States, China, Washington, U.S, Australia, Poland, Japan, South Korea, Indonesia, South Africa, Mexico, favorability, Nigeria, Beijing, Germany, Sweden, Israel, Italy

☆ Yellen: Indo-Pacific allies should not have to choose between US, China
▼ + stars: | 2023-11-02 | by ( David Lawder | ) www.reuters.com time to read: +5 min

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Yellen said the U.S. instead was pursuing the "de-risking and diversifying" of its economic ties to China, by investing in manufacturing at home and by strengthening linkages with allies and partners around the world, including Indo-Pacific countries. TRADE, INVESTMENT LINKSYellen said the Biden administration was committed to expanding trade and investment with Indo-Pacific countries, emphasizing the region's strategic importance ahead of the APEC gathering. The Indo-Pacific is a dynamic and rapidly growing region. "And achieving resilience through partnering with Indo-Pacific countries means gains for Indo-Pacific economies as well," Yellen said.

Persons: Janet Yellen, Seth Wenig, Yellen, White, Joe Biden, Xi Jinping, Biden, Donald Trump, David Lawder, Diane Craft Organizations: Treasury, Rights, . Treasury, Asia Pacific Economic Cooperation, Asia Society, APEC, Prosperity, Thomson Locations: United States, New York, U.S, China, San Francisco, IPEF, Vietnam

☆ US lawmakers urge Yellen to speed up China outbound investment rules
▼ + stars: | 2023-10-31 | by ( Michael Martina | ) www.reuters.com time to read: +2 min

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Seth Wenig/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 31 (Reuters) - The Republican and Democratic leaders of a U.S. congressional committee on China urged Treasury Secretary Janet Yellen to urgently implement outbound investment restrictions on the country, warning that Beijing was using American capital to develop technologies as her department debated new rules. China has condemned the move, but some U.S. lawmakers have argued it has too many loopholes. Yellen should adopt a broad definition of technology in her guidelines on the investment restrictions, the lawmakers said in the letter, dated Oct. 30, arguing China had blurred the lines between commercial and military technology. Some U.S. officials have said the outbound investment rules should not be overly broad to avoid harming the U.S. economy.

Persons: Janet Yellen, Seth Wenig, Joe Biden, deliberates, Mike Gallagher, Raja Krishnamoorthi –, Gallagher, Krishnamoorthi, Michael Martina, Sandra Maler Organizations: Treasury, Rights, Republican, Democratic, Chinese Communist Party, CCP, U.S, Biden, Thomson Locations: United States, New York, China, Beijing, U.S

☆ U.S. wraps up fiscal year with a budget deficit near $1.7 trillion, up 23%
▼ + stars: | 2023-10-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. The federal government wound up its fiscal year in September with a deficit just shy of $1.7 trillion, the Treasury Department announced Friday. The huge deficit came as revenue fell by $457 billion from a year ago and expenses decreased by just $137 billion. The budget shortfall adds to the staggering U.S. debt total, which stood at $33.6 trillion earlier this week. Of the government outlays last year, some $659 billion went for net interest on the accumulated debt, up from $475 billion in fiscal 2022.

Persons: Janet Yellen, Joe Biden's, Yellen, Biden Organizations: Treasury, Treasury Department, Federal Reserve Locations: United States, New York, U.S, Ukraine, Israel, Gaza

☆ China ramps up yuan internationalisation under Belt and Road Initiative
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +4 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?

Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt

☆ EU Prepares Global Gateway Forum to Boost Global Infrastructure Plan - Bloomberg News
▼ + stars: | 2023-10-19 | by ( Oct. | At A.M. | ) www.usnews.com time to read: 1 min

Health News Bulletin Stay informed on the latest news on health and COVID-19 from the editors at U.S. News & World Report. Sign Up Sign in to manage your newsletters »Sign up to receive the latest updates from U.S News & World Report and our trusted partners and sponsors. By clicking submit, you are agreeing to our Terms and Conditions & Privacy Policy.

Organizations: U.S . News, U.S News

☆ China's Xi, seeking end to Israel-Hamas conflict, calls for ceasefire and two-state solution
▼ + stars: | 2023-10-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

CNN —A two-state solution to establish an independent Palestine is the “fundamental way out” of the Israel-Hamas conflict, Xi Jinping said Thursday in the Chinese leader’s first public comments on the war since it broke out nearly two weeks ago. Xi also praised Egypt for playing an “important role” in cooling tensions, adding that China supports its efforts to let in humanitarian aid to Gaza, CCTV reported. Israel’s subsequent bombardment and siege of Gaza has killed some 3,500 Palestinians, including hundreds of children, according to local health authorities. Hours before Biden landed in Israel, Russia’s Vladimir Putin arrived in Beijing for the Belt and Road Forum. During their meeting, the two leaders discussed the conflict in the Middle East, which Putin said was a “common threat” that brought Russia and China closer together.

Persons: Xi Jinping, ” Xi, Mostafa Madbouly, Xi, Joe Biden, Abdel Fattah el, Biden, Russia’s Vladimir Putin, Putin, Israel –, Wang Yi, Zhai Jun Organizations: CNN, Egyptian, US, Israel, World Health Organization, Hamas, Biden, Chinese Foreign Ministry, Middle East Locations: Palestine, Israel, Beijing, China, Egypt, Gaza, Rafah, American, Russia, Europe, Ukraine

☆ China's Belt and Road Forum: What to know following Beijing's 'grand gathering'
▼ + stars: | 2023-10-19 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Here are the main takeaways from China’s Belt and Road Forum. No doubt over Putin’s prominenceThe gathering left no question over who was the most important world leader in attendance in the eyes of China’s Xi. In his meeting with Putin, Xi hailed the China-Russia partnership as “a long-term commitment,” stressing “ever-lasting good neighborliness and mutually beneficial cooperation,” and alluding to their shared 4,300-kilometer border and mutual aims. Since then, skepticism about China’s global ambitions has risen in Europe, in particular over Beijing’s economic and diplomatic support for Moscow. “Obviously, competition should not mean working against each other but mutually improving each other,” he said, while touting the quantity of China’s global development projects.

Persons: Beijing CNN —, Xi, Vladimir Putin, –, Putin striding, Putin, ” Putin, Joe Biden’s, ”, Giuseppe Conte, Hungary’s Viktor Orban, Kassym, Joko, General António Guterres, ” Guterres, Zhai Jun, Wang Yi, “ Organizations: Beijing CNN, Initiative, of, Italian, Beijing, United Nations, Hamas Locations: China, Beijing, United States, Ukraine, Russia, China’s, East, Gaza, Israel, Europe, US, Greece, Austria, Portugal, Czech Republic, Moscow, Italy, Africa, Asia, Latin America, Egypt

[1/5] Chinese President Xi Jinping greets Russian President Vladimir Putin as they attend the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. Putin and other foreign leaders sat with key Chinese officials from the 25-member Politburo on the front row, as Xi delivered his opening speech. The forum centres on the Belt and Road Initiative (BRI), a grand plan launched by Xi in 2013, that envisioned building global infrastructure and energy networks connecting Asia with Africa and Europe through overland and maritime routes. Western scepticism of Xi's grand plans stems from suspicions over the way it would extend China's global influence, analysts say. Xi is pushing to make the Belt and Road smaller and greener, moving away from big-ticket projects like dams to high-tech ones such as digital finance and e-commerce platforms.

Persons: Xi Jinping, Vladimir Putin, Edgar Su, Xi, Putin, BRI, Viktor Orban, Haji Nooruddin Azizi, Antoni Slodkowski, Simon Cameron, Moore Organizations: Initiative, of, People, REUTERS, Rights, Forum, EU, Washington, Thomson Locations: Beijing, Rights BEIJING, Tiananmen, Asia, Africa, Europe, China, Western Europe, United States, Ukraine

Search resuls for: "Global Infrastructure"

25 mentions found