In a significant development, member countries of OPEC+ have come to a consensus on a new output target of 40.46 million barrels per day (bpd) beginning in 2024. The agreement, outlined in a statement issued by the group, reflects their collective commitment to maintaining stability in the oil market.
The African Development Fund's Board of Directors recently gave the green light to a $3.9 million grant aimed at bolstering Liberia's payments infrastructure and systems project. The grant, provided through the Bank's concessional lending window, was approved on March 17.
Africa Finance Corporation (AFC), the leading provider of infrastructure solutions in Africa, and Morocco's Ministry of Economy and Finance have entered into a strategic partnership.
The State Visit of Prime Minister Narendra Modi, at the invitation of President Joe Biden, marks a significant moment in the relationship between the United States and India. US-INDIA State visit.
Stellantis, the multinational automotive company, has entered into a new agreement with Vulcan Energy Resources, an Australian lithium supplier listed on the stock exchange.
Quebec is taking the lead in Canada's transition to electric buses, aiming to improve air quality and reduce greenhouse gas emissions. To achieve its net-zero emissions goal, the Quebec government recently announced a plan to add 1,229 electric buses to its transit network, investing over $1.8 billion. This initiative, carried out in partnership with the federal government, marks North America's largest electric bus project. The federal government contributed $780 million towards the purchase from Canadian bus manufacturer Nova Bus.
Singapore and Shanghai have strengthened their bilateral ties with a series of agreements across various sectors, as trade between the two nations reached new heights. In 2022, bilateral trade grew by 8%, totaling $20 billion, driven by increasing demand. Singapore-linked projects in Shanghai received investments worth nearly $24 billion, focusing on real estate, financial services, manufacturing, lifestyle, and consumer goods.
China Energy Investment Corporation (China Energy) has recently unveiled the largest carbon capture project in Asia tailored specifically for the coal-fired power sector. The cutting-edge facility, situated in Jiangsu Province in eastern China, has commenced operations, marking a significant step towards curbing carbon dioxide (CO2) emissions.
