Joint Venture Financial News

Binance will publicly roll out a Thailand-based crypto exchange in early 2024 via a joint venture with local energy giant Gulf Energy Development.

Chris Ellison’s Mineral Resources has turned its attention to a new lithium target with links to the company’s chairman, located near the prolific Wodgina lithium mine jointly owned by MinRes and Albemarle.

(Reuters) — U.S. asset management giant Vanguard Group has sold its 49% stake in a joint venture with Jack Ma-backed Ant Group Co, Bloomberg News reported on Tuesday, citing people familiar with the matter.

(Reuters) — U.S. shale oil producer Diamondback (NASDAQ:FANG) Energy has formed a new joint venture with private equity firm Five Point Energy LLC to create a water infrastructure network in the Midland Basin that is part of the oil-rich Permian in Texas.

NEW DELHI : Oil and Natural Gas Corp. (ONGC) Ltd is in talks with global entities including Malaysia’s Gentari to form a joint venture in energy storage, chairman and chief executive Arun Kumar Singh said, as the energy giant makes strides in its energy-transition journey. ONGC would look at both battery storage and pump storage projects (PSP), Singh said in an interview.

EPC major Larsen & Toubro, refining and marketing major Indian Oil Corporation and renewable energy player Renew have formed an equal joint venture to set up their green hydrogen business. The joint venture company is called GH4India Private Limited where the companies will hold 33.33% each, L&T said in a regulatory filing. The companies had last April signed a binding term sheet for the formation of a joint venture company to develop the nascent green hydrogen sector in India. «The joint venture is formed for the purpose of development of green hydrogen and its derivatives (including green ammonia, methanol, etc) production assets and associated renewable assets through any model of ownership and operatorship,'' L & T said in a regulatory filing. Authorised capital of the company is Rs 3 crore (30,00,000 equity shares of Rs 10 each). For countries like India, with its ever-increasing oil and gas import bill, green hydrogen can also help provide crucial energy security by reducing the overall dependence on imported fossil fuels. While nearly all hydrogen produced in India today is grey, it is estimated that demand for hydrogen will be 12 MMT by 2030 and around 40% of the element produced in the country (around 5 MMT) will be green, as per the draft National Hydrogen Mission guidelines. By 2050, nearly 80% of India’s hydrogen is projected to be ‘green’ – produced by renewable electricity and electrolysis. Green hydrogen may become the most competitive route for hydrogen production by around 2030.

Unionized workers at a General Motors joint-venture electric vehicle battery plant in Ohio will see pay raises while they continue to negotiate a contract

Komainu, a joint venture between leading Nomura, and crypto firms CoinShares and Ledger, received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). 

Adani Group is in early stages of exploring a stake sale in its fast-moving consumer goods (FMCG) joint venture Adani Wilmar Ltd, said sources aware of the development. The move is in line with the conglomerate's recent efforts to focus on core business areas and derisk its balance sheets by way of stake sales and accelerated loan repayments. The 50:50 joint venture (JV) between Adani and Wilmar was set up in 1999.

Solar Energy Corp, has offered oil-to-telecoms conglomerate Reliance Industries a 51% stake in a joint venture to supply renewable power to the latter's refineries and manufacturing plants, two sources familiar with the matter told Reuters. Under the proposal, Solar Energy Corp (SECI) will invite international bids for supply of renewable energy to Reliance Industries' refineries and facilities in Gujarat, the sources said.

Jio Financial Services Limited and BlackRock Wednesday announced an agreement to form Jio BlackRock, a 50:50 joint venture, to deliver tech- enabled access to affordable, innovative investment solutions for millions of investors in India.

Toyota Motor Corporation (NYSE:TM) revealed Monday that its joint venture with China’s state-owned Guangzhou, the Guangzhou Toyota Motor Co, has terminated early contracts of about 1,000 dispatch workers. The decision comes amidst mounting pressure from a price war in the world's largest auto market.

Stellantis says it will build a second U.S. electric vehicle battery factory in a joint venture with Samsung

ORIOL CYBER GROUP – a leading Cybersecurity Group from France has decided to launch in India as a 50:50 Joint Venture with LD Sharma – a leading Digital Marketing Expert.ORIOL GROUP is a risk management and security company that provides large companies, private and public investors, international institutions and governmental sectors with technical support as well as access, investment and development support in complex and risky markets and/or environments. Created to specifically serve the interests of Belt and Road Initiative partners and participants, ORIOL has operational capacities in Africa, the Middle East, Central and Eastern Europe, Asia.

Anil Ambani's troubles seem far from over. Due to ...

Apple iPhone manufacturer Foxconn has announced it is backing out of a $19.5 billion semiconductor joint venture with Indian mining conglomerate Vedanta Ltd

The newly created 'smart yen' programme will utilise Digital Asset's cross-blockchain smart contracts and applys them to programmable money — a digital currency that has been coded to move between parties when predetermined conditions are met. The technology is implemented as an overlay to the existing payment infrastructure, enabling the execution of condition-based payments or reward programmes automatically.Yoshitaka Kitao, president and representative director of SBI Holdings, comments: “Digital Asset has excellent technology and business concepts.

The newly created 'smart yen' programme will utilise Digital Asset's cross-blockchain smart contracts and applys them to programmable money — a digital currency that has been coded to move between parties when predetermined conditions are met. The technology is implemented as an overlay to the existing payment infrastructure, enabling the execution of condition-based payments or reward programmes automatically.Yoshitaka Kitao, president and representative director of SBI Holdings, comments: “Digital Asset has excellent technology and business concepts.

In a statement published by former video-game giant Atari on Monday, the firm says it has, effective immediately, terminated all license agreements with its joint venture partner ICICB Group and its subsidiaries. Previously, the two had jointly created the Atari Chain and the namesake Atari Token (ATRI). However, the company has had a change of heart regarding the deal, and announced it was disclaiming interest in the joint venture, stating "ICICB is not authorized to represent Atari or its brands in any manner."

Thailand-based Gulf Energy has made strategic investments in cryptocurrency exchange Binance US and signaled its pursuit of a joint venture with the global Binance exchange as part of a targeted effort to gain exposure to the digital asset market. 

On Tuesday, privacy blockchain Concordium and Geely Holding, a Chinese multinational automotive car company that owns brands such as Volvo, announced the creation of a joint blockchain venture headquarters in Wuxi, China. The project aims to develop blockchain technologies and improve blockchain standards, mainly in the automotive industry.