Saudi Aramco launches $ 1.5 billion fund, says energy transition plan flawed
Oil giant Saudi Aramco has launched a $ 1.5 billion fund to support an inclusive global energy transition on Wednesday while Saudi officials said the switch from hydrocarbons could take decades, necessitating continued investment in conventional resources.
Saudi Arabia, the world’s top oil exporter, and fellow OPEC producers have warned of underinvestment in fossil fuels especially while spare production capacity is thin and demand relatively healthy despite economic headwinds. Read here
Banks have started to send $ 13 billion in cash backing Elon Musk-Twitter deal: WSJ
WSJ has reported that banks have begun funding their $ 13 billion part of Musk’s $ 44 billion deal to take over Twitter as the Friday deadline to complete the transaction nears.
According to the report, Musk sent a borrowing notice late Tuesday to the banks that agreed to provide him with the debt for Twitter purchase.
The notice has kicked off a process that is currently under way by which banks will deposit funds they are on the hook for into an escrow account after hammering out final details of the debt contracts.
Telangana leg of Bharat Jodo Yatra led by Rahul Gandhi resumes
After a gap of three days, the Congress’ Bharat Jodo Yatra led by Rahul Gandhi resumes from Maktal in Narayanpet district of Telangana.
The Bharat Jodo Yatra entered the state via Gudebellur on October 23 morning, after exiting Karnataka from Raichur.
Gandhi will visit some prayer halls, mosques and Hindu temples in Telangana. Interfaith prayers will also be offered. The Bharat Jodo Yatra commenced on September 7 from Kanyakumari in Tamil Nadu.
Macron, Scholz plaster over differences with smiles and a handshake
French President Emmanuel Macron and German Chancellor Olaf Scholz met in Paris with smiles and a handshake on Wednesday. However, they ignored questions on their faltering relationship as they headed into the Elysee Palace.
Moments before Scholz’s arrival, French government spokesman Olivier Veran downplayed any rifts, saying the Franco-German couple had always been able to overcome difficulties that arose from time to time.”Today’s meeting reflects that this friendship remains alive,” he said.
