2023 was a rough year for venture capital funding in the United States. Across sectors, venture capital investments dropped by a whopping 30%, from $242.2 billion in 2022 to just $170.6 billion recorded in startup funding last year. The tip comes as the economy tries to absorb the whiplash of inflation and readjusted valuations. But a couple of key sectors saw marked increases in an otherwise dismal year: artificial intelligence and energy storage. Together, these sectors paint a vivid picture of where the United States economy is headed. Читать дальше...
Pressure is mounting on U.S. President Joe Biden to attack Iran directly after three U.S. troops were killed and more than 30 others injured in a drone attack on an American outpost in northeastern Jordan. While hitting Iranian targets is an option, analysts say the U.S. is more likely to strike one or more of Iranian-supported proxy groups based in Iraq and Syria -- but acknowledge it is increasingly difficult for Washington to sidestep direct confrontation with Tehran.Biden has been reluctant to directly strike Iran... Читать дальше...
Germany’s Volkswagen is still seeking a strategic investor for its battery unit this year and an IPO remains an option in the future, the biggest automaker in Europe told Reuters after reports emerged that the car manufacturing giant has delayed plans for an initial public offering or welcoming a strategic investor. Earlier on Tuesday, Bloomberg News reported, citing unnamed sources with knowledge of the plans, that Volkswagen is delaying IPO plans for its battery unit Power Co, and has put negotiations... Читать дальше...
Tesla enjoyed several years of success as the most well-known electric vehicle (EV) manufacturer, dominating the global market. However, with governments worldwide pursuing a green transition and looking to eventually phase out the sale of internal combustion engine (ICE) vehicles, many other automakers have developed highly competitive EVs in recent years. While Tesla is still well regarded for its EV offerings, many other startups and long-established automakers are offering cheaper EV models with similar capabilities... Читать дальше...
China’s independent refiners continue to delay purchases of crude from Iran for February as the Islamic Republic is now demanding higher prices and upfront payments before loading the cargoes, trading sources familiar with the matter have told Reuters. The stand-off between Iran and the independent Chinese refiners, the so-called teapots, began in the middle of December, and has cooled the market for Iranian oil – under U.S. sanctions – with the private buyers in China. Iran seeks higher prices for... Читать дальше...
India’s state power giant NTPC Ltd, the largest power generator in the country, plans to boost its green energy projects with green hydrogen and renewable power capacity, but it’s also investing in new coal-fired electricity. NTPC said on Tuesday that its unit NTPC Green Energy Limited (NGEL) had signed a Memorandum of Understanding (MoU) with the government of the state of Maharashtra to develop green hydrogen, green ammonia, and green methanol of up to 1 million ton capacity per year, pumped hydro... Читать дальше...
Rising geopolitical risk pushed Brent well past $80 last week, but the brief price rally has been dampened by continued economic concerns and a strong supply situation.Chart of the Week- Saudi Arabia’s government ordered the state oil company Saudi Aramco (TADAWUL:2222) to halt its oil expansion plan and maintain a production capacity of 12 million b/d, almost 10% lower than the current target of 13 million b/d.- The Saudi economy posted one of the steepest contractions in the 21st century, with... Читать дальше...
Germany needs better auction and price policies in offshore wind tenders to provide certainty to the offshore wind developers and the supply chain to invest in a faster expansion of capacity, which is needed to meet Germany’s clean energy targets, industry groups said on Tuesday. Last year, Germany put into operation a total of 27 offshore wind turbines with a combined output of 257 megawatts (MW), the German Wind Energy Association, BWE, and other wind industry and engineering groups said in a statement. Читать дальше...
The international oil companies operating in Kurdistan are calling on U.S. Congress for immediate action to help resolve halted crude oil exports from the semi-autonomous region in Iraq. The Association of the Petroleum Industry of Kurdistan (APIKUR) has written a letter to Congress in which it “stresses the urgent need for U.S. congressional action to encourage the Iraqi Prime Minister to resolve the oil production and export impasse prior to his upcoming U.S. visit.” “APIKUR remains committed to... Читать дальше...
