SINGAPORE — Southeast Asia’s largest lender by assets, DBS Group Holdings, is fighting to demonstrate the results of its digital banking reform after last year’s severe disruptions, which drew punishment from Singapore’s financial regulator.

“We have focused on improving service availability,” CEO Piyush Gupta said during the first-quarter earnings briefing on Thursday. “We have done a lot of the heavy lifting, but in truth, we still have more work to do.”

Source: NIKKIEASIA

The post Singapore’s DBS fights for trust after regulatory sanctions first appeared on Wall Street Collateral.

Nebius offers a secure service with a low interest rate structure to corporate and consumer clients. The initiative allows individuals and businesses to leverage crypto assets for real-world financial opportunities, meeting the growing demand for instant access to funds.

Nebius’ loan processing ensures customer liquidity within 2-7 days. The program lets users unlock the value of crypto assets while preserving potential upside, aligning with the 2023 trend in blockchain-based lending.

An all-in-one finance app
Nebius, an all-in-one finance app, integrates multi-currency payments, Virtual IBAN, cutting-edge card and cryptocurrency services. Authorized and registered by the Bank of Spain, the company acts as a cryptocurrency custodian and is officially recognized as a VASP (Virtual Asset Services Provider).

Nebius focuses on loan collateral security, using BitGo to protect crypto holdings. BitGo is one of the world’s largest custodians with assets worth $64 billion, further enhancing Nebius’ commitment to providing a secure, reliable and compliant financial solution.

source: business week

The post Nebius secures €250M for its crypto loan offering: Learn more first appeared on Wall Street Collateral.

The grant is part of a $75 million five-year partnership from the US Agency for International Development’s Economic Recovery and Reform Activity programme delivered by TradeMark Africa but funded by Feed the Future.“This facility with EAGC will directly tackle these challenges, removing trade impediments and building grain exporters’ capacity in Kenya, Tanzania, and Uganda across export value chains such as maize, beans, millet, sorghum, and rice,” said TradeMark in a statement.

Read: EAC external trade grows as partners erect more barriersThe partnership seeks to tap into food grain production and export while creating jobs, especially for women and the youth.

David Beer, TMA’s chief executive said that the collaboration with EAGC and USAid will boost grain exports within the region.“This includes spearheading innovative strategies such as grain business hubs, or G-Hubs. These are operated by farmers, who will leverage technology to improve grain quality and drive up trade,” said Mr Beer.

Some of the challenges facing grain exporters are the ability to meet and comply with international standards, low production rates, poor harvest management and climatic factors.“These challenges contribute to the low competitiveness of these staples in regional markets, reduced cross-border trade, production deficits, and postharvest losses that threaten the region’s food security,” added TradeMark.

EAGC plans to support over 80 small and medium-sized enterprises to successfully meet sanitary and phytosanitary measures – which regulate the health of animals and plants that are traded; and standards quality requirements that govern quality, health and safety systems, and environmental conservation. It also plans to establish an information hub that will act as a resource centre.

Read: Kenya’s maize imports raise EAC grain trade“Our focus is on impactful solutions, by fortifying grain business hubs and enhancing the capacities of SMEs for sustained growth,” said Gerald Masila (pictured), EAGC executive director.“And the information hub will be instrumental in informed decision-making, driving policy changes that positively impact food security and trade dynamics.”TradeMark Africa was established in 2010 as an Aid for Trade organisation aimed at growing intra-African trade and increase Africa’s share in global trade.

East Africa’s demand for wheat, maize, rice, barley and sunflower whose global supply chain has been disrupted by the collapse of the Russia-Ukraine Black Sea grain export agreement left the nations vulnerable to expensive produce.

Africa Grain Council (EAGC) has received a $2 million grant from TradeMark Africa to eliminate trade barriers for exporters in three East African countries.

The grant is part of a $75 million five-year partnership from the United States Agency for International Development (USAID)’s Economic Recovery and Reform Activity (ERRA) program delivered by TradeMark Africa but funded by Feed the Future.”This facility with EAGC will directly tackle these challenges, removing trade impediments and building grain exporters’ capacity in Kenya, Tanzania, and Uganda across export value chains such as Maize, Beans, Millet, Sorghum, and Rice,” said TradeMark in a statement.

Read: British investment fund puts $26m in African warehousesThe partnership seeks to tap into food grain production and export while creating jobs, especially for women and the youth.

David Beer, TMA’s chief executive officer said that the strategic collaboration with EAGC and USAID will boost grain exports within the region.“This includes spearheading innovative strategies such as Grain Business Hubs, or G-Hubs. These are operated by farmers, who will leverage technology to improve grain quality and drive up trade,” said Mr Beer.

Some of the challenges facing grain exporters are the ability to meet and comply with international standards, low production rates, poor harvest management and climatic factors.”These challenges contribute to the low competitiveness of these staples in regional markets, reduced cross-border trade, production deficits, and postharvest losses that threaten the region’s food security,” added TradeMark.

EAGC plans to support over 80 small and medium-sized enterprises (SMEs) to successfully meet Sanitary and Phytosanitary (SPS) measures – which regulate the health of animals and plants that are traded; and Standards Quality Infrastructure (SQI) requirements that govern quality, health and safety systems, and environmental conservation.

It also plans to establish an information hub that will act as a resource centre.”Our focus is on practical, impactful solutions, by fortifying grain business hubs and enhancing the capacities of SMEs, we are building a foundation for sustained growth,” said Mr Gerald Masila, EAGC’s Executive Director.”And the information hub will be instrumental in informed decision-making, driving policy changes that positively impact food security and trade dynamics.”TradeMark Africa was established in 2010 as an Aid for Trade organisation aimed at growing intra-African trade and increase Africa’s share in global trade.

source: zawya

The post TradeMark Africa’s $2mln grant to fight trade barriers first appeared on Wall Street Collateral.

The grant is part of a $75 million five-year partnership from the US Agency for International Development’s Economic Recovery and Reform Activity programme delivered by TradeMark Africa but funded by Feed the Future.“This facility with EAGC will directly tackle these challenges, removing trade impediments and building grain exporters’ capacity in Kenya, Tanzania, and Uganda across export value chains such as maize, beans, millet, sorghum, and rice,” said TradeMark in a statement.

Read: EAC external trade grows as partners erect more barriersThe partnership seeks to tap into food grain production and export while creating jobs, especially for women and the youth.

David Beer, TMA’s chief executive said that the collaboration with EAGC and USAid will boost grain exports within the region.“This includes spearheading innovative strategies such as grain business hubs, or G-Hubs. These are operated by farmers, who will leverage technology to improve grain quality and drive up trade,” said Mr Beer.

Some of the challenges facing grain exporters are the ability to meet and comply with international standards, low production rates, poor harvest management and climatic factors.“These challenges contribute to the low competitiveness of these staples in regional markets, reduced cross-border trade, production deficits, and postharvest losses that threaten the region’s food security,” added TradeMark.

EAGC plans to support over 80 small and medium-sized enterprises to successfully meet sanitary and phytosanitary measures – which regulate the health of animals and plants that are traded; and standards quality requirements that govern quality, health and safety systems, and environmental conservation. It also plans to establish an information hub that will act as a resource centre.

Read: Kenya’s maize imports raise EAC grain trade“Our focus is on impactful solutions, by fortifying grain business hubs and enhancing the capacities of SMEs for sustained growth,” said Gerald Masila (pictured), EAGC executive director.“And the information hub will be instrumental in informed decision-making, driving policy changes that positively impact food security and trade dynamics.”TradeMark Africa was established in 2010 as an Aid for Trade organisation aimed at growing intra-African trade and increase Africa’s share in global trade.

East Africa’s demand for wheat, maize, rice, barley and sunflower whose global supply chain has been disrupted by the collapse of the Russia-Ukraine Black Sea grain export agreement left the nations vulnerable to expensive produce.

Africa Grain Council (EAGC) has received a $2 million grant from TradeMark Africa to eliminate trade barriers for exporters in three East African countries.

source: zawya

The post TradeMark Africa’s $2mln grant to fight trade barriers first appeared on Wall Street Collateral.

This is according to the latest Global Investment Trends Monitor from the United Nations Conference on Trade and Development (UNCTAD).

FDI flows to developing countries fell by 9%, to $841 billion, with declining or stagnating flows in most regions.

Although flows worldwide defied earlier expectations and grew by a marginal 3% in 2023 to an estimated $1.37 trillion, “the headline increase was due largely to higher values in a few European ‘conduit’ economies,” the report says.

Excluding these conduit economies, global FDI flows experienced a significant 18% decline in 2023.

FDI flows to Africa were almost flat at an estimated $48 billion, reflecting a marginal one percent decrease compared to the previous year.

Greenfield project announcements increased, mostly due to strong growth in Morocco, Kenya, and Nigeria. However, project finance deals fell by one third, more than the global average decline, weakening prospects for infrastructure finance flows.

Trends by industry
The number of international investment projects announced in developing countries in sectors relevant to the SDGs – including infrastructure, renewables, water and sanitation, food security, health and education – remained flat.

Source: business insider 

The post Developing countries experience 9% decline in foreign direct investment – UNCTAD first appeared on Wall Street Collateral.

“If material enough, these risks materialising could trigger a broader reduction in risk appetite that spills over to UK financial stability through financial markets, impacting on financing conditions for UK businesses,” Lee Foulger, BoE director of financial stability, told a conference.

source: zawya

The post Bank of England warns on risks from private credit first appeared on Wall Street Collateral.

“For some time now we have described global commodity markets as being in a ‘super-squeeze,’” its chief economist Paul Bloxham told CNBC.

A commodity “super squeeze” is denoted by higher prices driven by supply constraints more than a robust growth in demand, he explained.

“If it’s a supply constraint that’s driving high commodity prices, it’s a very different story for global growth,” said via Zoom. Higher prices as a result of a super squeeze are “not as positive.”

“We see the deeper ‘super-squeeze’ factors on the supply-side as still set to play a key role in keeping commodity prices elevated,” he said, outlining factors like political uncertainties, climate change and the lack of investments into the green energy transition.

Geopolitical risks include the ongoing Israel-Hamas conflict in Gaza and the Ukraine war, which have hampered global trade, as seen in shipping disruptions from the recent Houthi attacks in the Red Sea.

Another reason is climate change, which disrupts supply chains as well as commodities supply, especially in the agricultural space.

“The super squeeze could be deeper, or more prolonged if geopolitical, climate change or energy transition related supply disruptions are larger than expected,” he added.

Lack of investments
The world’s pursuit of a net-zero carbon future is fueling demand for energy transition metals such as copper and nickel, Bloxham pointed out.

However, there are insufficient investments allocated to procuring these critical minerals, leading to a sharper supply squeeze on energy transition metals — in particular copper, aluminum and nickel, he said.

As energy transition ramps up, markets could be looking at a shortage of a slew of metals like graphite, cobalt, copper, nickel and lithium in the next decade, the Energy Transitions Commission said in a report in July.

At the recent COP28 climate change conference, more than 60 countries backed a plan to triple global renewable energy capacity by 2030, in what is largely deemed as a step forward for energy transition and a further boost in demand for metals required for that transition.

“Large-scale mining projects can take 15-20 years, and the last decade has seen a lack of investment in exploration and production for key energy transition materials,” the report said.

Source: zawya

The post Commodity markets are in a ‘super squeeze’ — and higher prices could be here to stay first appeared on Wall Street Collateral.

The discussion, which was held on the sidelines of a meeting between the Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, and the Moroccan Minister of Energy Transition and Sustainable Development, Ms. Leila Benali, was anchored by NNPC Ltd.’s Executive Vice President, Gas, Power, and New Energy, Mr. Olalekan Ogunleye, and the Director General of the Morocco National Office of Hydrocarbons and Mines (ONHYM), Mme Amina Benkhadra.

The talks focused on how to drive the partnership between the two countries to accelerate the Nigeria-Morocco Gas Pipeline Project in line with the series of Memoranda of Understanding (MoUs) signed between the two countries in 2022.

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Both parties emphasised the strategic importance of the project to the two countries and the entire African continent and the need to drive it to completion expeditiously in order to stem energy poverty on the African continent.

The Cooperation’s Agreement for the 48” x 5,300 km pipeline from Nigeria to Dhakia (Morocco) and 1,700km from Dhakia to Northern Morocco was signed in 2017 with a capacity of 30 billion cubic metres (bcm) per year (equivalent to 3.0 billion standard cubic feet of gas per day).

The pipeline would traverse the Republic of Benin, Togo, Ghana, Cote d’Ivoire, Liberia, Sierra Leone, Guinea-Bissau, Gambia, Senegal, Mauritania and terminate in Morocco with a spur to Spain.

Due to the international nature of the project, the ECOWAS Commission is saddled with the responsibility to, among other things, facilitate inter-governmental treaty and host government agreements, the establishment of a pipeline higher authority, and alignment with the AU, UN, and other relevant international bodies.

The project, among other things, will help drive the monetization of Nigeria’s gas resources, maintain NNPC Ltd.’s energy leadership in Africa, and promote economic and regional cooperation among African countries.

SOurce: zawya

The post Nigeria’s FG, Morocco in talks to advance gas pipeline project first appeared on Wall Street Collateral.

Infosys said it had plans to enhance digital experiences and provide business operation services, utilizing the company’s platforms and artificial intelligence (AI) solutions.

It was a 15-year deal signed in September 2023. The deal termination comes at a time when IT and tech companies globally are facing uncertainties and challenges.

This comes just two weeks after Nilanjan Roy, the company’s former CFO,

resigned .

Shares of the IT giant had gained about 6.7% during the quarter and 1.8% YTD. (Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sohini Goswami)

source: zawya

The post India’s Infosys falls after $1.5bln AI deal termination first appeared on Wall Street Collateral.

MBRGI signed a Letter of Intent (LoI) with UpLink Platform of the World Economic Forum to strengthen the Food Innovation Hubs global initiative. Overall, the collaboration will aim toward driving joint efforts on advancing innovation for food.

The new cooperation agreement was announced on the sidelines of the World Economic Forum, taking place in Davos, Switzerland between 15th and 19th January. The agreement is part of a series of programmes and initiatives implemented by the Food Innovation Hub UAE, launched by MBRGI in collaboration with the World Economic Forum in December 2023 during the 28th UN Climate Change Conference of the Parties (COP28) at Dubai Expo City. The Food Innovation Hub UAE aims to drive innovation and enhance food production mechanisms to ensure sustainable access to food.

Through Uplink and Food Innovation Hubs globally, the collaboration seeks to invest in innovative ideas and solutions for food insecurity, support and empower innovators in the field of food systems to help them turn their ideas into realities by providing the necessary resources and facilitate the launch of their projects. It will also allow them to utilise the vast experience gained by MBRGI from its work in humanitarian aid and relief, as well as the other pillars of its work.

Through this programme, MBRGI hopes to promote creative initiatives on a larger scale that adds to more engagement with some pressing humanitarian challenges, including access to food, education, healthcare, jobs and social security.

Saeed Al Eter, Assistant Secretary-General of MBRGI, said, “MBRGI continues to launch its projects and programmes based on a humanitarian vision that aims to positively change the lives of tens of millions of people, by enabling the poor to access essentials and live with dignity. Partnerships are key to achieve these noble goals, for which MBRGI was initially established.”

“The grants programme reflects the key principle of being open to new ideas, respect and acknowledge innovation, and promote creativity in everything we do in order to create the positive change we seek on the largest possible scale. It is also represents an important step in agricultural innovation, especially in the most disadvantaged communities. In addition to it being a key step for the Food Innovation Hub UAE, the new agreement with the World Economic Forum reflects MBRGI’s visions and ongoing cooperation with international organisations,” he added.

Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, said, “Our society’s well-being and long-term security depends on the resilience of food and water systems. Today, we are proud to strengthen our collaboration with the UAE and the Mohammed Bin Rashid Global Initiatives through Uplink and the Food Innovation Hubs as platforms that can drive cooperation and a global innovator movement to ensure that the millions of farmers and the growing population of 8 billion+ people can positively benefit from fit-for-purpose solutions. Uplink will allow for sourcing innovators that will contribute significantly to a sustainable and equitable future.”

The upcoming collaboration is set to highlight flagship initiatives currently in the Food Innovation Hubs network, while contributing to creating innovative solutions across network countries, including the UAE, with the UpLink Platform playing a pivotal role in sourcing and accelerating food system innovations.

Unique in its methodology, the open innovation platform UpLink focuses on the creation of an entrepreneur movement at scale and building bridges within the innovation ecosystem.

MBRGI brings under its umbrella dozens of initiatives, projects and foundations over five main pillars: Humanitarian Aid and Relief, Healthcare and Disease Control, Spreading Education and Knowledge, Innovation and Entrepreneurship and Empowering Communities.

In 2022, MBRGI spent AED 1.4 billion benefiting 102 million people in 100 countries, of which AED 910 million were spent on Humanitarian Aid & Relief initiatives that benefited 30.2 million people.

Among initiatives launched under the pillar of Humanitarian Aid & Relief, MBRGI launched the “10 Million Meals” campaign in 2020 as the first large-scale show of food aid solidarity during COVID-19, helping those affected by the pandemic in the UAE. The ”100 Million Meals” campaign in 2021 expanded the scope of the previous campaign and provided support to 20 countries in Africa and Asia. It was followed by the “1 Billion Meals” campaign in 2022 and most recently, the “1 Billion Meals Endowment” initiative in 2023 to establish the largest sustainable food fund.

Source: zawya

The post WEF and UAE announce $2.99mln grant to develop food technologies first appeared on Wall Street Collateral.