Global Business Review Magazine, Dubai (2025)

29/01/2025

While venture capital can accelerate growth, it’s not the only path to success.

Fact: Many startups thrive by reinvesting profits, maintaining lean operations, and focusing on customer needs. Bootstrapping allows founders to retain control while growing organically.

📊 Expert Tip: Build a sustainable business model before seeking external funding.

Follow us and do visit our website - https://grbizm.com

27/01/2025

The Russian central bank has made an effort to dispel rumors that retail deposits, which have grown rapidly in recent months as a result of rising interest rates that are in line with the regulator's benchmark rate, may be frozen.

As the central bank attempts to control inflation brought on by government expenditure and skyrocketing wage growth, Russia's benchmark rate increased to 21% last year, the highest level since the early years of President Vladimir Putin's administration.

Stay informed on the latest business news by visiting our website - https://grbizm.com

25/01/2025

Earning more doesn’t necessarily lead to financial security if spending increases proportionally. Fact: Sustainable financial health is rooted in budgeting, disciplined saving, and strategic investing. A structured financial plan ensures income aligns with long-term goals.

📊 Professional Advice: Implement the 50/30/20 rule—allocate 50% of income for essentials, 30% for discretionary spending, and 20% for savings and investments.

Follow us and do visit our website - https://grbizm.com

24/01/2025

In order to resolve allegations from the U.S. Securities and Exchange Commission that it failed to oversee staff members who deceived investors about the allure of the mortgage-backed bonds the bank was offering, a division of Bank of Montreal (BMO.TO) agreed to pay $40.7 million.

The SEC issued a $19 million civil punishment as part of the settlement on Monday.

Stay informed on the latest business news by visiting our website - https://grbizm.com

22/01/2025

While recessions are challenging, they are not synonymous with financial collapse. Businesses that focus on resilience, innovation, and cost optimization often emerge stronger. For individuals, building an emergency fund and diversifying investments are critical strategies for navigating economic downturns.

📊 Industry Insight: Sectors like healthcare, utilities, and essential services typically show resilience during recessions.

Follow us and do visit our website - https://grbizm.com

20/01/2025

Since the U.S. issued a new sanctions package on Jan. 10, at least 65 oil tankers have anchored at various locations, including off the borders of China and Russia, according to ship tracking data released Monday.

Some of those tankers stopped close to Russia in the Baltic Sea and the Far East, while five of them anchored off Chinese ports and seven more off Singapore.

Stay informed on the latest business news by visiting our website - https://grbizm.com

18/01/2025

Not all debt should be avoided. When managed wisely, strategic debt—such as home loans, education loans, or business loans—can act as a tool for achieving financial or professional goals. The key is understanding the purpose of borrowing and ensuring that it generates long-term value.

📊 Expert Tip: Assess the cost of debt versus its potential return before making borrowing decisions.

Follow us and do visit our website - https://grbizm.com

17/01/2025

European banks and asset managers have been under increasing pressure for years to increase their size in order to better compete with their American counterparts. As more boardrooms consider mergers, this year could be a watershed, according to investors, advisers, and executives.

In the last two years, European banks have experienced a surge in record profits and soaring shares (.SX7P), but they, together with the asset managers in the region, are still far smaller than their U.S. counterparts as American institutions moved farther ahead.

Stay informed on the latest business news by visiting our website - https://grbizm.com

10/01/2025

Scotiabank has agreed to transfer its operations in Colombia, Costa Rica, and Panama to Colombian bank Davivienda in exchange for a 20% equity stake in the latter. The arrangement aligns with Scotiabank’s ongoing strategic refocus under CEO Scott Thomson, who has prioritized investments in stable, low-risk markets, primarily within North America. This move marks a significant departure from its previous expansion efforts in Latin America, reflecting a shift in strategy to drive sustainable growth and higher returns.

The transition follows Scotiabank’s earlier ventures into Latin America, such as its acquisition of a controlling stake in Banco Colpatria in 2012 and the purchase of Citibank’s operations in Panama and Costa Rica in 2016. Despite these investments, the bank’s recent shift in focus reflects a decision to reduce exposure to higher-risk regions and redirect resources closer to home. This shift is seen as a response to saturated domestic markets and the pursuit of growth opportunities in the United States and Mexico.

The partnership with Davivienda will enable Scotiabank to maintain its presence in corporate, wealth, and global banking sectors in the three countries while transferring retail operations. The deal is expected to be completed within 12 months, granting Scotiabank representation on Davivienda’s board of directors. Analysts have noted that the 20% stake in Davivienda, valued at approximately CAD 600 million, aligns with Scotiabank's broader strategic objectives without significantly impacting its earnings.

Davivienda’s portfolio is projected to grow by 40% as a result of the acquisition, increasing its total assets to around $60 billion. The collaboration is expected to serve approximately 27.4 million clients across the region. Despite the expected financial benefits, Scotiabank has disclosed that the transaction will result in an impairment loss of approximately CAD 1.4 billion in the first quarter, with an additional CAD 300 million impact from foreign exchange effects upon closure.

09/01/2025

The British pound faced significant challenges on Friday, struggling to recover against the U.S. dollar and on track for its worst weekly performance since November. After a decline of 1.16% on Thursday, the pound inched up by 0.1%, reaching $1.2395, but remained close to the lows it had hit in April. By the end of the week, the currency was expected to close 1.4% lower, adding to its ongoing struggles. On Thursday, the pound, along with the euro, had experienced steep losses against the dollar, particularly after the return of investors from the New Year holidays. This slump in the pound was in line with a broader trend observed in global currencies, as the dollar rallied.

A significant factor behind this strength of the dollar was the expectation that U.S. interest rates would remain higher for longer. These expectations were fueled by markets bracing for the policies of the incoming Donald Trump administration, which traders anticipated could boost economic growth. Over the past three months, this belief had contributed to the dollar’s rally, surpassing the performance of other major global currencies.

Simultaneously, the outlook for the British economy appeared increasingly grim. This, in combination with a more dovish stance from the Bank of England (BoE), added further pressure on the pound. Despite having been the best-performing G10 currency against the U.S. dollar in the previous year, the pound now faced growing challenges. Data released by the Bank of England on Friday revealed that British lenders had approved fewer mortgages than expected in November, signaling a slowdown in the housing market. Mortgage approvals had fallen to 65,720 in November from 68,129 in October, marking the lowest level since August. Additionally, consumer lending had increased at its weakest pace since mid-2022, reinforcing the indication of a cooling economy.

08/01/2025

Journalists, traditionally more inclined to report events as they unfold, often find previewing future trends a challenging task. Yet, looking ahead at the commercial litigation landscape for 2025 offers valuable insights into key legal themes likely to dominate the year. This reflective approach creates a strategic blueprint for understanding emerging legal battles. As part of this transition, the “On the Case” column, previously helmed by veteran journalist Alison Frankel, has found a new voice. After a distinguished 37-year career, Alison’s retirement marked the end of a remarkable chapter in legal journalism, leaving a high standard to emulate.

The new editor brings a wealth of experience, having previously covered high-stakes business litigation and legal business dynamics for over five years. Their first step was reaching out to seasoned litigators to discern major developments anticipated for 2025. The unanimous prediction from legal experts revolved around artificial intelligence (AI). Tools, products, and practices driven by AI are expected to catalyze significant disputes in the coming months.

Central to the discussion is the intersection of AI and copyright law. Currently, over two dozen lawsuits have been filed by copyright holders who allege their works were utilized without authorization to train large language models. This wave of litigation signals broader legal implications for the AI industry. Potential areas of contention include allegations of bias in AI systems used for job applicant screening and the deployment of pricing tools trained on AI algorithms that may contravene antitrust laws like the Sherman Act.

07/01/2025

It was reported that BMW and Yamaha Motor had made strategic investments in Phoenix Tailings, a U.S.-based startup focused on rare earths processing. These investments were seen as part of efforts by global manufacturers to enhance the production of these crucial metals outside of China. Rare earths, a group of 17 metals vital for technologies such as electric vehicles and smartphones, have traditionally been refined using a process known as solvent extraction. This method, while effective, was criticized for being expensive and environmentally harmful, leading to its decline in the U.S. since its development in the 1950s. Over the past three decades, however, China has refined and dominated this technology.

Beijing’s recent decisions to curb exports of rare earths have heightened concerns in the West, prompting initiatives to explore alternative technologies. Phoenix Tailings claimed that its innovative process could refine these metals from mined ore or recycled materials with minimal environmental impact. The company received funding from BMW and Yamaha's venture capital divisions, along with contributions from Envisioning Partners, MPower, and Escape Velocity, as part of a $43 million Series B funding round. The specifics of each investor's contribution were not disclosed.

The startup planned to use a portion of the funds to establish a $13 million facility in Exeter, New Hampshire, which would have the capacity to produce 200 metric tons of rare earths annually. The facility was expected to be operational by June 2025. Remaining funds were allocated for research, engineering, and business development.

Phoenix Tailings, headquartered in Massachusetts with 33 employees, had reportedly signed contracts worth more than $100 million for its supply, although the identities of its partners were not disclosed. Should the Exeter facility succeed, the company intended to construct larger processing plants across the U.S. These expansions were expected to support the company’s goal of going public within three to five years.

06/01/2025

The innovative "Panshi Project," introduced by Zeng Yuqun, Chairman of CATL, has been described as a groundbreaking initiative capable of transforming the electric vehicle (EV) industry. In statements made in November, it was revealed that the project could drastically reduce the cost of developing a new EV, bringing it down from billions of dollars to a mere $10 million. Such a reduction could allow smaller EV companies to achieve profitability by selling just 10,000 cars annually, a development with the potential to reshape the competitive landscape of the global automotive industry.

According to Zeng, this new technology might enable the entry of fresh players into the EV market, particularly in regions where traditional automakers are absent. The possibility of producing cost-efficient EVs could encourage new investments in these economies. It was shared that the Panshi technology had already been presented to Porsche for consideration in a potential luxury EV model. Additionally, discussions had taken place with investors in the United Arab Emirates, who were reported to have shown interest in establishing a local EV brand using this advanced platform.

Since 2020, CATL has focused on the development of EV platforms where the battery is directly integrated into the chassis. This approach eliminates the need for a separate battery pack, allowing for reduced production costs, increased energy density, and improved vehicle efficiency.

Over the last two years, this cutting-edge technology has been implemented in collaboration with several automakers, including Vinfast, BAIC, and Neta. These partnerships have facilitated the creation of models that leverage the advantages of the Panshi platform. By integrating the battery into the structural foundation of the vehicle, the design not only enhances performance but also contributes to a more streamlined manufacturing process.

28/11/2024

Plans to facilitate the public listing of Angola’s lender, Banco de Fomento Angola (BFA), have been confirmed, as stated by Caixabank's Chief Executive Officer, Gonzalo Gortazar, on Tuesday. The Spanish financial institution, which indirectly owns 48.1% of BFA through its Portuguese subsidiary Banco BPI, will work alongside the Angolan government to advance this initiative. The remaining 51.9% of BFA is held by Unitel, Angola's state-owned telecommunications company.

It was explained by Gortazar that Caixabank is prepared to collaborate closely with the Angolan authorities and Unitel to ensure the success of the proposed initial public offering (IPO). The CEO mentioned that although the IPO process is primarily being led by Unitel, Caixabank would support the efforts in an advisory and cooperative role.

Caixabank has expressed limited long-term interest in maintaining its indirect stake in BFA. Earlier in the year, the CEO indicated that the institution was considering divestment options. Any decisions regarding the sale of its shareholdings would be communicated to Angolan authorities, as required.

In August, the Angolan government announced its decision to proceed with the IPO of 15% of BFA. The move is seen as a strategic step toward increasing transparency and attracting additional investors to Angola’s financial sector. It is believed that this public offering could create a pathway for Caixabank and its subsidiary, BPI, to exit or reduce their stakes in BFA.

Banco BPI’s CEO, João Pedro Oliveira e Costa, confirmed last month that the bank intends to sell a portion of its stake through the IPO process. Advisors are currently being selected to oversee the operation, which is expected to be completed in 2025. The decision reflects Banco BPI’s long-standing objective of gradually withdrawing from its Angolan commitments.

Despite the intentions to offload its holdings, Banco BPI has encountered obstacles in executing its plans. In 2023, efforts to sell the stake were suspended due to unfavorable economic conditions. The sharp devaluation of the kwanza made the financial environment less favorable for potential transactions.

28/11/2024

The cryptocurrency exchange OKX announced on Monday its plans to provide instant deposits and withdrawals in Singapore dollars for customers in the city-state. This initiative has been described as a significant step toward integrating with Singapore’s traditional financial system amid a surge in cryptocurrency trading and growing interest in digital assets.

Enhanced Financial Integration
It was stated by OKX that the transfer of funds for this service would be facilitated by DBS Group, the largest bank in Singapore. The transactions are expected to utilize the country’s PayNow and FAST (Fast and Secure Transfers) payment systems. OKX issued a statement highlighting the importance of this partnership for enabling seamless and secure transactions within the growing digital asset ecosystem in Singapore.

Cryptocurrency Market Momentum
The announcement comes amid heightened global interest in cryptocurrencies, driven partly by shifts in regulatory sentiment and market optimism. Increased enthusiasm for digital assets has been observed following the election of Donald Trump as U.S. president, with expectations that his administration could introduce policies favorable to cryptocurrency regulation. The optimism surrounding regulatory reforms has contributed to a historic rally in Bitcoin, the largest cryptocurrency by market capitalization.

OKX’s Regulatory Milestone
OKX’s operations in Singapore have been bolstered by the company’s recent regulatory achievements. In September, its Singapore subsidiary was granted a payments license by the Monetary Authority of Singapore (MAS). This license enables OKX to provide digital payment token services as well as cross-border money transfer capabilities within Singapore. The MAS license represents a crucial milestone for OKX, given Singapore’s status as a leading cryptocurrency hub in Asia. Over recent years, the city-state has cultivated an environment that supports the growth of blockchain technology and digital assets, attracting a wide array of crypto exchanges, fintech startups, and institutional players.

18/09/2024

An eventful week in global financial markets was anticipated as central banks from the United States to Brazil, and from Europe to Japan, prepared for critical policy meetings. Investors and analysts expected these meetings to signal significant shifts in monetary policy, particularly with the U.S. Federal Reserve (Fed) on track to deliver its first interest rate cut in four years. Meanwhile, Brazil’s central bank was expected to raise interest rates for the first time since 2022, and Japan’s policymakers were closely monitoring volatile markets as they considered when to tighten monetary policy again.

The week ahead was not just about central banks. The European banking sector was also in focus, as UniCredit’s move to acquire a stake in Commerzbank revived discussions about mergers and acquisitions (M&A) among European banks. Analysts were preparing for a potential wave of consolidation in the sector, adding to the financial landscape’s complexity.

Anticipation of the Federal Reserve’s Interest Rate Cut

The Federal Reserve was expected to conclude its two-day meeting on Wednesday by announcing an interest rate cut, the first of this cycle. The question for many market participants was not whether the Fed would cut rates, but how much and how quickly it would ease monetary policy. Market expectations had largely priced in a quarter-point rate cut, while some speculated there was a roughly 60% chance of a more significant half-point reduction.

Recent economic data showed that U.S. consumer prices had risen slightly in August, with core inflation remaining somewhat sticky. This persistence in inflation made it unclear how aggressively the Fed would move. The news conference by Fed Chair Jerome Powell, scheduled after the policy announcement, was expected to be scrutinized for hints about the pace of future rate cuts. Weaker-than-expected employment data from August raised concerns that the Fed might be behind the curve in providing the necessary economic stimulus.

17/09/2024

The U.S. dollar exhibited mixed performance on Wednesday, driven by fluctuating market conditions following new inflation data from the U.S. economy. The data, reflecting a rise in underlying inflation in August, has led to increased speculation that the Federal Reserve might opt for a modest 25-basis-point rate cut during its upcoming meeting. This anticipation has played a significant role in determining the dollar's movements against various global currencies.

Reports suggested that the dollar had gained against currencies such as the Swiss franc, British pound, and Japanese yen, though it slightly weakened against the euro. As a result, the dollar index, which measures the value of the U.S. currency against a basket of six major currencies, registered a marginal decline of 0.01% on the day, settling at 101.63. Throughout the trading session, the dollar faced bouts of pressure sure as investors reassessed market conditions, including heightened political uncertainty ahead of the upcoming U.S. presidential election.

The data revealed that the U.S. Consumer Price Index (CPI) had risen by 0.2% in August, mirroring the increase observed in July. On an annual basis, inflation had climbed by 2.5%, marking the slowest year-on-year increase since February 2021, and showing a decrease from the 2.9% figure recorded in July. However, when excluding volatile components such as food and energy, core inflation rose by 0.3% in August, up from 0.2% the previous month.

Analysts, including Ben McMillan, Chief Investment Officer at IDX Insights, interpreted this data as reducing the likelihood of a more aggressive 50-basis-point interest rate cut by the Federal Reserve in the coming week. McMillan observed that the market had previously anticipated a 50-basis-point cut, but this inflation data reaffirmed that the Federal Reserve was primarily focused on employment numbers. Consequently, upcoming job reports and potential revisions to those figures were expected to play a critical role in shaping future monetary policy decisions.

Global Business Review Magazine

29/01/2025

27/01/2025

25/01/2025

24/01/2025

22/01/2025

20/01/2025

18/01/2025

17/01/2025

10/01/2025

09/01/2025

08/01/2025

07/01/2025

06/01/2025

28/11/2024

28/11/2024

18/09/2024

17/09/2024

Address

Telephone

Website

Alerts

Contact The Business

Shortcuts

Share

Category