The 10 Best Performing Business Leaders of the Year.

  On Thursday, President Xi Jinping called for the development of a strong military to defend the nation, warning that the Chinese people will never allow any foreign force to “bully, oppress, or enslave them.” Xi Jinping has issued a warning to anybody who is ‘bullying’ or ‘oppressing’ China. On Thursday, President Xi Jinping called for the development of a strong military to defend the nation, warning that the Chinese people will never allow any foreign force to “bully, oppress, or enslave them.” We have pioneered a new and uniquely Chinese path to modernisation and created a new model for human civilisation, according to Xi, because we have upheld and developed socialism with Chinese characteristics and driven coordinated progress in material, political, cultural-ethical, social, and ecological terms. Source URL

  India, Southeast Asia, and Greater China’s  dealmakers and companies’ panellist line-up has been confirmed by  MBP and Baker McKenzie  for full- day virtual SPAC conference .   Perrie Weiner , the Partner-in-Charge, Los Angeles and Chair of the North America Securities Litigation Group at Baker McKenzie, said “SPAC dealmakers and target companies need to be aware of both the risks and opportunities in the market. There is significant upside for these types of deals, and proactively addressing risks can ensure such opportunities can be fully realized.”    Marcum LLP  is a   parent company of  Marcum Bernstein & Pinchuk LLP (MBP),  and both are involved in SPAC transaction the most. In the Greater China all audits for Marcum are performed by MBP, as they offer specialised advisory and audit services to support SPAC targets and sponsors...

  The rating agency has raised its Brent crude oil price forecast for the rest of 2021 to $65 per barrel, up from $60 per barrel before. Standard & Poor’s stated on Tuesday that the better earnings outlook for state-owned Oil and Natural Gas Corporation Ltd (ONGC) over the next 12-18 months will support deleveraging. ONGC would continue to make prudent capital investments in FY22, which will be primarily financed by operational cash flows. Despite the obstacles posed by the Covid-19 epidemic, the business demonstrated good flexibility in reducing spending throughout FY21. Its capital spending decreased to almost Rs 43,000 crore in FY21, down from over Rs 55,000 crore the previous year. “The cushion in ONGC’s stand-alone credit profile (SACP) assessment of bbb+ has grown. The company’s increased profits and capital-spending flexibility could lift its funds-from-operations-to-debt ratio above 50% over the next 12-18 months, up from around 45 percent in FY21. This is far higher th...

  The impact of COVID-19 affected the global economies. China’s V-shaped growth of economy is slowing down too. It is a worrying sign for the world as China is the second biggest global economy . The People’s Bank of China (PBOC) cut the amount of cash that is must-hold for the banks to boost the lending. Though PBOC has taken some initial steps, there is forecast that commodity prices could moderate further. The factory of the world is the ‘first-in, first-out’ nation considering the pandemic. If this logic is applicable for the markets, it will be an alarming situation for the global economies. Source URL

  Jeff Bezos , Founder of Amazon Inc, who is the richest person on earth with a net worth of $210.5 billion, according to Forbes, donates $200 million to Smithsonian Museum. It is the largest donation made since it was first founded. Bezos contributed $170 million to build new education complex, and $70 million to renovate air and space museum. “Every child is born with great potential, and it’s inspiration that unlocks that potential,” Bezos said upon announcing the donation. “My love affair with science, invention and space did that for me, and I hope this gift does that for others,” he later added. The new education complex, which will be named after Jeff Bezos, will include programs and activities like science, technology, engineering, arts, and mathematics. Source URL

  Increase in tension between the tech alliance- Asia Internet Coalition and Hong Kong’s government is because of the privacy laws. Tech companies like Google, Twitter, and Facebook are part of this tech alliance. The companies have warned the Hong Kong’s government regarding its official’s act of striction of data protection law amendments as it can put companies responsible for doxxing the campaigns which will result companies to close their operation in Hong Kong territories. Need new measures after doxxing pushed the “limits of morality and the law,” said Hong Kong’s Privacy Commissioner. He also added that the changed laws would, “not have any bearing” on freedom of speech. Source URL

  Oil production was decreased with the ongoing breeze between Saudi and UAE . This caused sharp hike in the fuel rates. But now, OPEC and allied nations are agreed to boost the oil production gradually. The 15 days dispute between two countries is finally compromised with Riyadh meeting to halfway demands form Abu Dhabi. This will boost the oil output 4,00,000 barrels per day. UAE’s quantity was raised to 3.5 million barrels per day. Though it is less than what UAE had demanded but is more than the previous baseline of 3.17 million. The tensions were raised considering the dispute but the agreement between both the countries relieved the world. The possibility of inflationary oil price hike is minimized with this deal and oil prices may decrease soon. Source URL

  Democrats get an advantage to impose a fee on imports of carbon-intensive goods. They are experiencing a split reaction among business interests that stand for welfare or suffer from a new form of protectionist trade policy linked to inscribing climate change. Sen. Chris Coons of Delaware and Rep. Scott Peters of California say their legislation was introduced on July 19. It was deliberated to protect the competitiveness of U.S. industries, which are exposed to domestic climate rules. This could be further strained as the Biden administration expands more aggressive policies. This act would force companies abroad that are not subjected to strict environmental rules and want to sell commodities to the United States to pay a price for each ton of carbon dioxide they emit in making its products. Source URL