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☆ The 10 most active European and US investors betting on India as Asia's tech powerhouse, as it hits 100 startups worth $1 billion or more
▼ + stars: | 2022-12-21 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Funding from US and European HQ'd investors into Indian startups. 2021 was a banner year, with nearly 75% of the total funds into Indian startups coming from foreign investors. Foreign investor traction in India remains strong, said Draganov, who expects US and European venture capitalists to maintain their presence in India in the coming years. Using data from Dealroom and PitchBook, Insider profiled the most active investors that are headquartered in Europe and the US that have backed Indian startups since 2016. Based on the deal volume and size of investments into Indian startups since 2016, here are the top European and US firms investing into Indian startups, in alphabetical order.

☆ EIB bank lends Tunisia 150 mln euros in emergency support for food security
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: 1 min

TUNIS, Dec 18 (Reuters) - The European Investment Bank, the lending arm of the European Union, has approved a 220 million euro loan ($233 mln) for Tunisia, including 150 million euros in emergency support for food security, the Tunisian Ministry of Economy said on Sunday. Tunisia is in a deep financial crisis which has resulted in a shortage of many food commodities in recents weeks. Agriculture Minister Mahmoud Elyess Hamza said the loan will help Tunisia to regularly supply soft wheat. ($1 = 0.9450 euros)Reporting by Tarek Amara Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Violeta Santos MouraCompanies Enagas SA FollowBARCELONA/LISBON, Dec 9 (Reuters) - An underwater pipeline to carry green hydrogen between Barcelona and Marseille will cost around 2 billion euros ($2.1 billion), according to preliminary estimates of the project agreed between Spain, Portugal and France, two sources told Reuters. Spain and Portugal aim to become clean hydrogen hubs and net energy exporters, causing tensions with France which plans to produce its own hydrogen using nuclear energy. The pipeline will only carry hydrogen in order to meet EU funding criteria, though "improvements" could be made in future to allow for some gas, a Spanish government source said. As a result, the industry source said, they have pushed their four grid operators to "speed up technical studies, potential pipeline layouts and cost assessments". "If you already have an overland pipeline why build an undersea pipeline?"

☆ German economy ministry calls for joint EU response to U.S. inflation act
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Dec 9 (Reuters) - Germany wants a joint European response to the U.S. Inflation Reduction Act that would involve simplifying rules on state support and expanding funding opportunities, according to a German economy ministry document seen by Reuters on Friday. The ministry document also suggests member states could anchor sustainability criteria more firmly in public tenders at the national level as well as extend or increase traditional subsidy programmes, but warned against local content requirements which favour domestic industry. These would not only likely contradict World Trade Organization (WTO) law, according to the document, but also contribute to "a further erosion of the world trade order". The EU and Washington have established a joint task force in hope of resolving the dispute over the $430 billion act. (This story has been corrected to specify that the document is from the economy ministry, not finance ministry; and to clarify in the headline that the ministry calls for, not lays out, a joint response.)

☆ Inside SoftBank Vision Fund's awful, terrible, really bad year. How the venture fund tumbled, according to former employees, investors and rival VCs.
▼ + stars: | 2022-12-08 | by ( Hasan Chowdhury | Ben Bergman | Samantha Stokes | ) www.businessinsider.com time to read: +12 min

SoftBank's Vision Fund just experienced one of its most dismal years in its history. SoftBank's Vision Fund was once a power broker, having raised a jaw-dropping $100 billion in 2017, followed by plans to raise $108 billion for Vision Fund 2 in 2019 — two of the largest venture-investing vehicles ever established. But insiders are now questioning if it will ever regain influence, according to 11 ex-Vision Fund investors, former employees, VCs, and industry analysts who weighed in on the future of the Vision Fund. One ex-Vision Fund investor described Son, now taking the reins of Vision Fund 2, as someone who is "not a manager." Given its investing performance so far, the obvious question is what happens once Vision Fund 2 has reached full investment.

☆ Niger president calls for job-based immigration quotas in Europe
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +3 min

MILAN, Dec 2 (Reuters) - Niger's President Mohamed Bazoum said in an interview with an Italian newspaper on Friday that African and European states should agree quotas for African immigrants tailored to employment needs. "In France, Spain and Italy you have many jobs in sectors of employment where Africans can work," Bazoum said. "These numbers need to be established, country by country, and then the consulates entrusted with the responsibility of enforcing them." While numbers have subsided, thousands embark on treacherous journeys to European countries each year in hope of finding safer lives and better economic opportunities. Bazoum said agreements between African and European states would help regulate regular immigration and tackle irregular immigration "that fuels the worst trafficking".

☆ Huge trade partner and ‘systemic rival.’ Europe has a China problem
▼ + stars: | 2022-11-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

The Covid-19 pandemic, Russia’s invasion of Ukraine, and tit-for-tat sanctions between China and EU lawmakers have strained relations since. The total value of the goods trade between China and Europe hit €696 billion ($732 billion) last year, up by nearly a quarter from 2019. China was the third largest destination for EU goods exports, accounting for 10% of the total, according to Eurostat data. Even so, the United States may exert more pressure on Europe to pull away from China, Borges de Castro noted. EU investment into China has also become more concentrated.

☆ Goldman Sachs: Wait for these 4 signs that the market has hit its bottom before you buy stocks — and keep your money in these 4 other places in the meantime
▼ + stars: | 2022-11-29 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Goldman Sachs expects stocks to be flat in 2023 as growth weakens and interest rates stay high. Stocks have been crushed this year, and Goldman Sachs doesn't see a rebound on the horizon. In fact, the firm is calling for flat returns in the next year as earnings growth weakens. Additionally, rising real yields mean that bonds are now a legitimate alternative to stocks, which has catalyzed a "major valuation reset" for stocks, Mueller-Glissmann wrote. Even if interest rates peak, Goldman Sachs economists don't expect the Federal Reserve to stimulate the economy by cutting interest rates until 2024.

☆ France's OVHcloud gets 200 mln euro EIB loan for European investments
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

Nov 25 (Reuters) - The European Investment Bank has granted OVHcloud (OVH.PA) a 200 million euro ($208.18 million) loan to support the French software group's expansion in Europe, they said in a joint statement on Friday. The funding will support OVHcloud's plan to ramp up international development by opening 15 new data centres, of which 10 will be located in Europe, by the end of 2024. The loan is the first financing granted by the European Investment Bank to a pure cloud market player for a maximum amount, and is in line with the European Union's strategy to strengthen the continent's autonomy in new technologies, the EIB and OVHcloud said. ($1 = 0.9607 euros)Reporting by Federica Mileo in Gdansk; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Deep tech investor OTB Ventures raises $145 million for new fund and plans to expand into seed stage startups
▼ + stars: | 2022-11-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

OTB has raised 140 million euros ($145 million) of its 150 million euros ($155 million) target. European venture capital firm OTB Ventures has raised over 90% of its new 150 million euros (around $155 million) second fund at first close. The Amsterdam-based company, founded in 2017, will invest in 10 seed and 15 Series A-stage startups, writing checks of up to 1.5 million euros and 7 million euros respectively. Niewinski said LPs had "doubled down" since its first 108 million euros fund, which was later topped up 30 million euros by the European Investment Fund. The investor is bullish on space tech specifically and tapping into expertise at the European Space Agency and European Union Space Programme to assess startups.

☆ German industry calls for more support to diversify beyond China
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Nov 21 (Reuters) - One of Germany's main industry lobby groups called on Monday for more support for industry to diversify trade beyond China, as the government prepares new policies aimed at reducing the German economy's dependence on Beijing. Planned measures such as stress tests and greater scrutiny on investments in China, outlined in a draft document seen by Reuters, would be an administrative burden for businesses, the Association of German Chambers of Industry and Commerce (DIHK) said. "Everything we have heard so far about the German government's China strategy is extremely defensive," said Volker Treier, head of foreign trade at DIHK. "We need an active and resilient industrial policy and strategy in Europe with regards to raw materials, batteries or semiconductors." Reporting by Victoria Waldersee, Andreas Rinke, Ludwig Burger Editing by Rachel More and Peter GraffOur Standards: The Thomson Reuters Trust Principles.

☆ Billionaire Marc Lasry details the opportunities he sees right now from buying up stocks to debt financing: 'If you need any money, call'
▼ + stars: | 2022-11-08 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

A depressed market is good for firms like Avenue Capital that make distressed investments. Billionaire CEO Marc Lasry breaks down the potential opportunities at a Forbes conference in NYC. Lasry sees demand booming for high interest rates loans of up to 15%. Lasry is the CEO and co-founder of Avenue Capital Group, which makes money in tough times, including through high-interest rate loans to distressed borrowers. He also sees buying opportunities in stocks.

☆ UBS launches digital bond that straddles blockchain and traditional exchanges
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 3 (Reuters) - UBS AG (UBSG.S) has launched a 375 million Swiss franc ($370 million) bond that the Swiss bank said on Thursday was the world's first digital bond to be publicly traded and settled on both blockchain-based and traditional exchanges. The digital bond has the same legal status and rating as a traditional UBS AG senior unsecured note, it said in a statement. "We are proud to leverage distributed ledger technology to launch the inaugural UBS digital bond. Investors can settle and clear the digital bond on either SDX CSD directly or on SIX via an operational link announced last month. The European Investment Bank last year issued its first digital bond on a public blockchain.

☆ Billionaire Marc Lasry breaks down where he sees opportunities in the current economy, and why rising rates mean he's no longer getting laughed off the phone
▼ + stars: | 2022-11-03 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

☆ Verkor raises 250 mln euros to fund EV battery megafactory
▼ + stars: | 2022-11-02 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Nov 2 (Reuters) - French battery startup Verkor has raised 250 million euros ($248 million) from investors to fund a battery "megafactory" on its way to building a much larger plant to produce batteries for its customer Renault (RENA.PA), the company said on Wednesday. Verkor, which is based in Grenoble, said investors in the funding round included French bank Societe Generale (SOGN.PA), German industrial company Siemens (SIEGn.DE) and the European Investment Bank, which put in 49 million euros. The funding round comes after the company raised 100 million euros from investors in 2021. Verkor said that so far the company has been making several batteries a day in its lab in Grenoble. As well as perfecting its battery chemistry, the megafactory will help Verkor master production at scale and train people to eventually run the Dunkirk gigafactory, Lemaignan said.

Oct 25 (Reuters) - Apple Inc (AAPL.O) said on Tuesday it would make fresh investments to set up solar and wind projects in Europe and called on its suppliers to decarbonize operations related to the production of iPhones and other products. Apple had previously asked suppliers to commit to 100% renewable energy for Apple's production. Apple has been carbon neutral for its global corporate operations since 2020. Apple said the European investments are part of a strategy to address about 22% of its carbon footprint coming from the electricity customers use to charge their devices. In total, the planned investments will add 3,000 gigawatt hours per year of new renewable energy on the grid, Apple said.

☆ Ukraine external financing needs could reach $5 bln a month, IMF's Georgieva says
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - Ukraine's external financing needs will be around $3 billion a month through 2023 in a best-case scenario, but could rise as high as $5 billion if Russian bombing becomes "even more dramatic," IMF Managing Director Kristalina Georgieva said. She said IMF staff had met with Ukrainian authorities in Vienna last week to discuss the country's financial needs and were working toward a fully-fledged IMF lending programme. Georgieva strongly endorsed Ukraine's calls for a mechanism to coordinate financial needs and support, a message echoed by Odile Renaud-Basso, president of the European Bank for Reconstruction and Development, and other speakers. We are going to be a part of the solution during this recovery phase," the IMF leader said. "And in a worst case scenario, if the bombing is even more dramatic ... it could go to $5 billion a month."

☆ International support, private sector vital for Ukraine economy: European Investment Bank
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInternational support, private sector vital for Ukraine economy: European Investment BankWerner Hoyer, president of the European Investment Bank, joins CNBC's Geoff Cutmore at the IIF conference to discuss how the private sector and the international community need to rally together to support the Ukraine economy.

German and Chinese national flags fly in Tiananmen Square ahead of the visit of German Chancellor Angela Merkel in Beijing, China, May 23, 2018. German investment and trade in China hit record levels in the first half of 2022 and big business says there's no question of pulling back from the world's second-biggest economy. A spokesperson for the economy ministry said it was closely following the investment behaviour of German companies as part of its strategic considerations on how to deal with China. The economy ministry declined to comment when asked about a meeting next year, or the remarks about Habeck. Reuters reported last month that the economy ministry was considering curbing export and investment guarantees as part of its new China strategy.

☆ Factbox: Germany's measures to protect consumers from rising energy prices
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Lisi NiesnerBERLIN, Sept 29 (Reuters) - Germany agreed a 200 billion euro ($194 billion) "defensive shield" on Thursday to protect companies and consumers against the impact of soaring energy prices, in what the government called a show of strength in an "energy war" against Russia. GAS PRICE BRAKEThe measure will be temporary and benefit private households and companies, bringing prices down to more manageable levels. ECONOMIC STABILISATION FUND REACTIVATIONThe government will finance the gas price cap and the liquidity and subsidies required for the electricity price brake through the Economic Stabilisation Fund (ESF). The government will skim off short-term large gains made by some energy companies during the crisis. GAS VAT REDUCTIONThe government will lower value-added tax (VAT) on gas from 19% to 7% until Spring 2024 and will extend the tax cut to district heating as well.

☆ Wall Street shops get dinged for nearly $2 billion in penalties for failing to police bankers' use of Whatsapp
▼ + stars: | 2022-09-28 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +5 min

Some of the world's largest banks from Goldman Sachs to Morgan Stanley will cough up nearly $2 billion in penalties to the US regulators for failing to sufficiently monitor their employees' use of unauthorized messaging apps. At the heart of the matter here are bankers' use of communications platforms like Whatsapp or Signal. These are encrypted messaging apps that bankers regularly use to communicate with clients and even journalists. The largest US banks, boutiques, and European lenders were caught up in a probe around the use of unauthorized messaging apps. Whatsapp, for example, is a popular messaging app with bankers dealing with clients based outside the US.

☆ Nigeria is oil rich and energy poor. It can’t wait around for cheaper batteries
▼ + stars: | 2021-11-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +15 min

But it’s coming under huge pressure from developed countries to abandon fossil fuels and shift to renewable energy in order to help save the climate. AKINTUNDE AKINLEYE/EPA-EFE/ShutterstockLike the United States, Europe and Britain, Nigeria sees a prominent role for renewable energy, notwithstanding its investments into gas power. “In Nigeria, clean energy is central to our government’s plan to transition to net-zero emissions,” Osinbajo, the vice president, continued. In Nigeria, energy poverty is itself a major driver of emissions, according to Olu Verheijen, the founder of Lagos-based energy advisory business Latimer Energy. This means that in some cases, certainly for Nigeria, gas has an important role to play in providing power.

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