(Bloomberg) — Saudi Arabia will host the biggest names in finance and technology this coming week in a test of investor appetite for the kingdom’s ambitions of transforming itself into a global hub at a time of widening regional conflict. Most Read from Bloomberg International executives will have to contend with a region rocked by geopolitical tensions, with the threat of further military confrontation between Israel and Iran at the highest levels in decades. And they will land in a country that is increasingly facing up to the fact that even its vast oil wealth has limits. But those arriving…
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Two executives with CQC Impact Investors, a developer of carbon credit projects, have been indicted for alleged fraud by the U.S. Attorney for the Southern District of New York. Such cases are rare, but they raise questions for carbon credit buyers — how can they have confidence that their investments will help reduce greenhouse gas emissions? What should they do if a project goes wrong? Carbon credit insurance can provide an answer. Buyers can insure their carbon credits with specialist policies. As more options come to market, sustainability teams will soon need to decide: Is carbon credit insurance the best…
What’s going on here?Investment in AI-themed exchange-traded funds (ETFs) is booming in 2024, with a third of all AI-named ETFs debuting this year, showcasing heightened investor interest in artificial intelligence.What does this mean?AI-focused ETFs have amassed $4.5 billion in assets, nearly matching the $5.5 billion in nuclear-themed funds and overshadowing the $1.37 billion cannabis market. BlackRock is shaking things up by launching two new offerings – iShares A.I. Innovation and Tech Active ETF and iShares Technology Opportunities Active ETF – to seize emerging AI opportunities. Their first product from 2018, iShares Future AI & Tech ETF, is nearing a 52-week…
Pham Nhat Vuong, chairman and founder of Vingroup.© 2024 Bloomberg Finance LP Automobile and property tycoon Pham Nhat Vuong and his conglomerate Vingroup has launched a venture capital firm to fund artificial intelligence and digital startups in Vietnam and the region in a bid to broaden his technology businesses. VinVentures Capital Fund, jointly sponsored by Pham and Vingroup, will focus on AI, semiconductors, cloud computing, and other high-tech products, the conglomerate said in a statement The fund, which will invest in startups, has $150 million in assets under management, two thirds of which are “inherited investment” from the Vingroup’s existing…
By David Shepardson (Reuters) – Boeing is set to launch as early as Monday its plan to raise more than $15 billion in capital, a source briefed on the matter told Reuters. Reuters first reported on Oct. 16 that the planemaker was closing in on a plan to raise around $15 billion with common shares and a mandatory convertible bond as it sought to bolster finances worsened by a crippling ongoing strike. The new capital is set to come from a mix of the sale of stock and convertible preferred shares, the source added, saying the total amount raised could…
Traders work on the New York Stock Exchange floor on Oct. 16, 2024.Spencer Platt | Getty ImagesU.S. equity futures jumped on Monday morning as investors looked for a batch of megacap technology earnings to keep driving the Nasdaq Composite to new heights this week. A cooling geopolitical situation also aided risk sentiment.Weekend airstrikes by Israel against Iran did not target oil or nuclear facilities as was feared and oil futures were lower in early trading.Futures tied to the Dow Jones Industrial Average added 179 points, or 0.42%. S&P 500 futures gained 0.53% and Nasdaq 100 futures increased by 0.73%.The market…
What’s going on here?Indian stocks are facing headwinds as foreign investors shift their attention to China, with the Gift Nifty showing a flat opening around 24,222 today.What does this mean?Foreign Portfolio Investors (FPIs) have been aggressively selling Indian shares, pulling out $13.23 billion over 20 sessions. This exodus, driven by China’s appealing stimulus measures and lower valuations, has led the Nifty 50 to drop by 8% since late September. October is shaping up to be the worst month for the Nifty since March 2020, with a 6.3% decline this month alone. The broader market sentiment is impacted by mixed earnings…
Indonesia has blocked Apple Inc. from selling its latest iPhone 16 devices in Southeast Asia’s largest economy, saying the company has yet to meet domestic investment requirements. Source link
MicroStrategy (NASDAQ:MSTR) executive chairman Michael Saylor humorously reached out to Microsoft (NASDAQ:MSFT) CEO Satya Nadella, suggesting he can help with the company’s Bitcoin (CRYPTO: BTC) strategy. What Happened: In a post on X on Friday, Saylor advised Nadella that if he’s interested in creating the next trillion-dollar opportunity, he should reach out. This comes as Microsoft, per an SEC filing, prepares to discuss a possible Bitcoin investment at its December shareholder meeting. MicroStrategy, despite being much smaller, has outperformed Microsoft by 313% largely due to its Bitcoin holdings. The company’s total bitcoin holdings as of Oct. 20 stand at 252,220,…
(Bloomberg) — Indonesia has blocked Apple Inc. from selling its latest iPhone 16 devices in Southeast Asia’s largest economy, saying the company has yet to meet domestic investment requirements.Most Read from BloombergThe iPhone 16, launched in September, cannot be marketed domestically as local unit PT Apple Indonesia has not fulfilled the country’s 40% local content requirements for smart phones, the Ministry of Industry said in a statement on Oct. 25.That’s a road bump for Apple which has otherwise enjoyed healthy sales of its flagship product, especially as demand firms up in China. Indonesia is a $1-trillion economy, where the number…