Reuters exclusively reported[1] that Venezuela’s state-run oil company PDVSA plans to increase digital currency usage in its crude and fuel exports as the U.S. reimposes oil sanctions on the country.
Ecuador examining new Amazon and Ocean linked debt-for-nature swaps
Reuters exclusively reported[1] that Ecuador is scoping out new debt-for-nature swaps, one to funnel funds into the Amazon rainforest and another for a giant ocean protection zone backed by Hollywood star Leonardo DiCaprio.
Market Impact
PDVSA sinceUAE giant eyes majority stake in Vedanta's Zambian mines in expansion drive
Business & Finance
Reuters exclusively reported[1] that the mining investment arm of Abu Dhabi’s most valuable company has offered to buy a majority stake in Vedanta Resources’ Zambian copper assets in its drive to build an African copper mining
India's Ola Cabs plans $500 mln IPO, to appoint banks soon
Reuters exclusively reported[1] that Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion.
Market Impact
This is Ola’s second attempt at an IPO, after a 2021UBS shuts some China private funds, will lay off staff
Reuters exclusively reported[1] that UBS is shutting down some of its China private funds business and will lay off one-third of the staff as the Swiss bank cuts operating costs in the country.
Market Impact
Reuters exclusively reportedECB set to order UniCredit to reduce Russia business
Reuters exclusively reported[1] that the European Central Bank is poised to order Italy’s UniCredit to cut back its business with Russia as the regulator exerts pressure to choke off European financial ties with Moscow.
Market Impact
Abu Dhabi's largest Islamic bank in talks to buy $1.1 bln stake in Indonesian lender
Business & Finance
Reuters exclusively reported[1] that Abu Dhabi’s largest Islamic bank is in talks to buy a minority stake valued at around $1.1 billion in Indonesia’s top Islamic lender, Bank Syariah Indonesia, with an aim to tap into a