Select Page

News & Events

Stay up to date on all our exciting new events and view past webinars and podcasts with instant playback.

Commonwealth chief asks members to ease barriers for bloc to achieve $2T intra-trade target by 2030

Commonwealth chief asks members to ease barriers for bloc to achieve $2T intra-trade target by 2030

The Commonwealth Secretary-General, Shirley Ayorkor Botchwey, has called on the organization’s 56 member states to reduce trade barriers in pursuit of achieving $2 trillion in intra-Commonwealth trade by 2030. The announcement came during the opening of the first-ever Commonwealth Business Summit (CBS) in Windhoek, Namibia.

The three-day event, jointly organized by the Commonwealth Secretariat and Namibian government, runs alongside the Commonwealth Trade Ministers Meeting (CTMM). The dual gatherings aim to accelerate member states’ industrialization efforts and expand consumer markets across the Commonwealth.

Namibia’s Minister of International Relations and Trade, Selma Ashipala-Musavyi, emphasized the importance of collaboration in addressing trade tariffs and identifying new growth opportunities. Samoa’s Prime Minister Fiame Naomi Mataafa highlighted the Commonwealth’s unique position to unlock trade and investment opportunities while strengthening public-private partnerships, noting the challenges posed by growing global conflicts and crises.

Read the original article here: https://www.aa.com.tr/en/africa/commonwealth-chief-asks-members-to-ease-barriers-for-bloc-to-achieve-2t-intra-trade-target-by-2030/3603551

Crypto platform Tron strikes deal with Nasdaq-listed company

Crypto platform Tron strikes deal with Nasdaq-listed company

Tron, the cryptocurrency platform led by Justin Sun, has announced a significant deal with Nasdaq-listed SRM Entertainment. Under the agreement, SRM will be renamed Tron Inc., with Sun joining as an adviser and the company purchasing Tron tokens.

A private investor plans to inject $100 million into the deal, potentially reaching $210 million if warrants are exercised. While the Financial Times reports that Tron itself is the investor and aims to go public through a reverse merger with SRM, neither company has confirmed these details.

The deal was facilitated by Dominari Securities, a New York investment bank whose parent company recently added Donald Trump Jr. and Eric Trump to its board. Notably, Sun has connections to Trump’s World Liberty Financial crypto venture, having invested $75 million in the project and listed its USD1 stablecoin on the Tron network. Sun, who faces an ongoing SEC civil fraud lawsuit (currently on hold), has established himself as a significant figure in both cryptocurrency and Trump-affiliated business ventures. SRM Entertainment, known for designing and selling custom merchandise, saw its stock price surge over 300% following the announcement, climbing from $1.45 to $6.70.

Read the original article here: https://www.msn.com/en-us/money/companies/crypto-platform-tron-strikes-deal-with-nasdaq-listed-company/ar-AA1GPAmR?ocid=BingNewsVerp

Eye on IPO shores, companies set sail for Cayman

Eye on IPO shores, companies set sail for Cayman

The Cayman Islands, a self-governing British Overseas Territory, is gaining traction as the new pitstop for Indian startups building software products for global markets. These software-as-a-service (SaaS) companies are increasingly looking to the Caribbean island as a flexible option to tap into capital markets, either at home or overseas.

According to multiple industry sources, the push to register these Indian SaaS startups in the tax-neutral Cayman Islands is being led by their venture capital backers, including prominent investor Accel Partners. This shift in preference is driven by the startups’ desire to have the flexibility to list in India, the US, or pursue a future dual listing.

Previously, the US was the preferred destination for most Indian SaaS companies, as the bulk of their customers were American entities. Freshworks was the first Indian SaaS company to list on American bourses, followed by other top players like Chargebee, Icertis, and Innovaccer.

However, this trend is now changing as the Indian stock markets become more attractive, and the bar for IPO in the US becomes more challenging. The Cayman Islands’ tax-neutral status and flexibility in managing complex global footprints make it an appealing choice for Indian SaaS startups.

However, experts caution that the Cayman Islands route is not without its downsides, such as the absence of a double taxation avoidance treaty with India and potential capital gains tax implications in the event of share swaps. The ecosystem needs to navigate these uncertainties carefully, as reverse flips or shifts in domicile can be a costly affair.

As Indian SaaS startups continue to expand their global footprint, the Cayman Islands’ emergence as a preferred domicile reflects the evolving landscape and the startups’ quest for flexibility and access to diverse capital markets.

Read the original article here: https://www.msn.com/en-in/money/markets/eye-on-ipo-shores-companies-set-sail-for-cayman/ar-AA1GyDIg?ocid=BingNewsVerp

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Metaverse Use Cases And Benefits

Metaverse Use Cases And Benefits

Metaverse Use Cases And BenefitsThe Commonwealth Chamber of Commerce is delighted to invite you to an all new collaboration with the Meta Intelligence Group and Rave.Space Asia for a webinar on the exciting new realms of the Metaverse! By 2028, the global market for...

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.