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Rosneft, Reliance agree biggest ever India-Russia oil supply deal

19/12/2024 0

Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.  Why it matters  The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today’s prices. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine.  The post Rosneft, Reliance agree biggest ever India-Russia oil supply deal appeared first on Reuters News Agency.   Source: Reuters News Agency 

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Shein IPO: UK regulator decision slowed by NGO challenge 

19/12/2024 0

Britain’s financial regulator is taking longer than usual to approve fast-fashion retailer Shein’s IPO because it is checking its supply chain oversight and assessing legal risks after an advocacy group for China’s Uyghur population challenged the listing, according to two sources close to the matter. Britain’s Independent Anti-Slavery Commissioner, a monitoring body of the interior ministry, has also raised concerns within government over a Shein IPO because of allegations about labour practices at its suppliers.  Why it matters  The U.S. and NGOs have long accused China of human rights abuses in the Xinjiang Uyghur Autonomous Region, where they say Uyghurs are forced to work producing cotton and other goods. Beijing has denied any abuses.  For Shein, valued at $66 billion in a fundraising round last year, its IPO performance will partly hinge on what risks the FCA decides it must include in its prospectus, and how those are priced in.  The post Shein IPO: UK regulator decision […]

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US appeals court upholds TikTok law forcing its sale

18/12/2024 0

Reuters led by 58 seconds in reporting that a U.S. federal appeals court had upheld a law requiring ByteDance to divest TikTok in the U.S. early next year or face a ban.  The post US appeals court upholds TikTok law forcing its sale appeared first on Reuters News Agency.   Source: Reuters News Agency