Deal Financial News

By Stephen Nellis

By Davit Kirakosyan

The practice statement letter noted the FSCS had yet to make a determination regarding any potential compensation

White House said on Monday that Vietnam Airlines' deal to buy 50 737 Max jets from U.S. planemaker Boeing is worth $7.8 billion. The statement confirms the deal value that Reuters had reported on Sunday, citing a source.

Oil and gas heavyweight Santos is in the market with a 10-year US dollar bond to fund future capital expenditure directed to growth projects, Street Talk understands.

SJVN shares jumped 10.5% to hit a 52-week high of Rs 70.7 in Monday's trade on BSE after the company's subsidiary SJVN Green Energy (SGEL) signed a power purchase agreement with Bhakra Beas Management Board (BBMB) to develop an 18 MW solar power project. «The project will be developed on the land parcels of BBMB in the states of Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024,» the company said in an exchange filing. The project has been secured through open competitive bidding at a tariff of Rs 2.63/- in the e-reverse auction organized by the Punjab Energy Development Agency, SJVN said. The project will generate 39.42 million units of energy in the first year of operation, and the cumulative energy generation over a period of 25 years would be about 917 million units, the company added. The Power Purchase Agreement for the power produced from the project has been signed with BBMB for 25 years. SJVN plans to install over 10,000 MW renewable energy capacity in three years while progressing towards its shared vision of becoming a company of 25000 MW by 2030 and 50000 MW by 2040, the company said. At 10.18 am, the scrip was trading 8.8% higher at Rs 69.6 on BSE.

By Parisa Hafezi and Andrew Mills

Boeing 737 Max jets in a deal valued at about $7.5 billion, a person familiar with the talks told Reuters on Sunday. Wording of the impending deal, which confirms a Reuters report from last week, comes as U.S. President Joe Biden visits Hanoi to boost ties with the former foe. Boeing and Vietnam Airlines did not immediately respond to requests for comment. The deal would be worth up to $7 billion at list prices, and usually companies that buy in bulk get discounts, but the person familiar with the talks did not comment on this. Boeing has a deal with Vietnam Airlines' rival VietJet for the sale of 200 of its 737 MAX planes. Vietnam was the world's fifth fastest-growing aviation market in 2022 when it lifted COVID-19 travel restrictions, according to the International Air Transport Association (IATA), which predicts the country will serve 150 million air transport passengers by 2035. Boeing 737 Max jets were grounded worldwide for months after two fatal crashes in Indonesia and Ethiopia in 2018 and 2019.

Black Sea grain deal that excludes Russia will not be sustainable. «A process for the grain issue that excludes Russia is unlikely to be sustainable,» Erdogan said at a press meet after the G-20 summit in India. This July, Moscow suspended its participation in the Black Sea grain deal, brokered by Türkiye and the UN, to resume grain exports from three Ukrainian Black Sea ports that were paused after the Ukraine war in February 2022. Moscow has complained that the West failed to meet its obligations on Russian grain exports and that not enough Ukrainian grain was going to countries in need. It says restrictions on payments, logistics, and insurance have stood in the way of its shipments. Türkiye says the deal should be resumed by addressing deficiencies, and there is no alternative as other proposals have failed to offer a «sustainable, secure and lasting» model. «We are making intense efforts to end the Russia-Ukraine war, which has cost hundreds of thousands of lives.

Group of 20 leaders have agreed to triple renewable energy and try to increase the funds for climate change-related disasters but maintained the status quo with regards to phasing out carbon spewing coal

Belt and Road Initiative (BRI), which has pushed many countries into a debt trap besides losing control over their assets, leaders of India-US-Saudi Arabia-UAE-Europe-Japan on Saturday announced a mega joint infrastructure deal to connect Asia with Europe via ports and railroad. Prime Minister Narendra Modi launching the project said an India-West Asia-Europe connectivity corridor for economic integration would be launched soon. Modi made the announcement flanked by US President US Biden, Saudi Arabia Prime Minister Mohammed bin Salman, President of UAE, EU and key European leaders on the sidelines of the G20 Summit. «This corridor will show a sustainable way to the whole world,» the Prime Minister said. While the US President described it as a game-changer, Ursula von der Leyen, President, European Union said, «It will be the most direct connection between India, Middle East.

COVID-19 pandemic and the economic disruption which has derailed progress towards the SDGs (sustainable development goals)," the document reads. However, there were different views and assessments regarding the impact of the Ukraine war. The leaders also called on Russia to revive the Black Sea grain deal, which allowed movement of food grains from the ports of Russia and Ukraine.

shipping and rail transportation corridor linking countries across the Middle East, South Asia and Europe on the sidelines of the ongoing G20 Summit in New Delhi. «Strong connectivity and infrastructure is the base of development of humanity. India has prioritised on this in its developmental journey,» said PM Modi while addressing the Partnership for Global Infrastructure Investment (PGII) conference with G20 leaders. The United States, India, Saudi Arabia, the United Arab Emirates, the European Union and other G20 partners were set to explore the shipping and rail transportation corridor, which is aimed at aiding in the flow of commerce, energy and data from India across the Middle East up to Europe. The leaders are meeting to discuss the global economy and supply chain challenges, among other issues facing the global community. This agreement after it is inked could be seen as an alternate supply chain in a completely evolved post-pandemic world order. Finer added that President Biden and Prime Minister Modi will meet with other leaders for an event focused on global infrastructure later today. “The deal will benefit low and middle-income countries in the region, and enable a critical role for the Middle East in global commerce.

Russia said on Saturday it was sticking to its conditions for a return to the Black Sea grain deal which it quit in July. In particular, Kremlin spokesman Dmitry Peskov said Russia needed its state agricultural bank — and not a subsidiary of the bank, as proposed by the United Nations — to be reconnected to the international SWIFT bank payments system. «All our conditions are perfectly well known. They do not need interpretation, they are absolutely concrete and all this is absolutely achievable,» Peskov said. «Therefore Russia maintains its responsible, clear and consistent position, which has been repeatedly voiced by the president.» The Black Sea deal was brokered by Turkey and the United Nations in July 2022 to enable Ukraine to export grain by sea despite the war and help ease a global food crisis. It was accompanied by an agreement to facilitate Russia's own exports of food and fertiliser, which Moscow says has not been fulfilled.

Group of 20 nations have hammered out compromise language on Russia’s invasion of Ukraine, overcoming differences between Moscow and the rest of the group that had threatened to derail hopes of a joint communique from this weekend’s summit. The phrasing is broadly similar to that agreed at last year’s summit in Bali, Indonesia, according to people familiar with the discussions. They asked not to be identified to describe internal deliberations. The language still must be approved by G-20 leaders, but that’s seen as likely now that senior staff have agreed on the language, they said. The US and its allies had sought tougher phrasing than the Bali compromise to denounce what they see as Russia’s aggression, while Moscow wanted to weaken the reference — and for a time enjoyed the support of China.

According to  G lobeNewswire, BIGG Digital Assets Inc. (BIGG) has formalized its intent to acquire all outstanding shares of TerraZero Technologies Inc. not already under its umbrella. The transaction, with an estimated valuation of approximately $20 million, is set to be facilitated through an issuance of around 62 million common shares of BIGG.

Joe Biden and Indian prime minister Narendra Modi are expected to announce the project as a part of the Partnership for Global Infrastructure Investment. The project, which is in line with president Biden's middle east strategy, will enhance connectivity, de-escalate conflict, and provide a counter for China's 'Belt and Road' initiative. This project, which will push commerce, energy trade, digital connectivity, high standards, will be executed in a transparent, non-coercive and sustainable way, Finer added.

Elon Musk,on Friday, legally challenged recent social media laws implemented in California. The new laws require social media companies to reveal their policies for policing disinformation, harassment, hate speech and extremism. X Corporation's Elon sued California government over the law that aims to bring transparency and extremism.

NEW YORK (Reuters) -Shareholders in real estate investment trust Global Net Least Inc approved a planned merger with The Necessity Retail REIT to form the third-largest net lease REIT, the company said on Friday.

New Delhi: UK prime minister Rishi Sunak, who is attending the G20 Leaders’ Summit in India, will announce measures to alleviate the impact of the Russian blockade of Ukrainian grain supplies that has caused a global spike in food prices. “Once again, (Russian president) Vladimir Putin is failing to show his face at the G20.

Rishi Sunak has said that there is progress in talks between India and Britain on a free trade agreement, but he «won't rush» into the trade deal, according to a report by BBC. Sunak is here to attend the G20 Summit on September 9-10. The remarks assume significance as the 12th round of talks concluded last month between the officials of the two countries.