News & Events

The Mozambican parliament approved the 2024 budget plan and spending estimates (PESOE), despite opposition complaints about last-minute changes.

The ruling Frelimo party’s 165 deputies voted in favour of the budget on its first reading, while all 37 opposition deputies from Renamo and the Mozambique Democratic Movement (MDM) voted against it. Opposition deputy Fernando Bismarque accused the government of suddenly altering the budget right before the vote, distributing a different document to deputies than what was originally proposed. He said the changes increased projected public spending significantly from the original 542.7 billion meticais (around $8.5 billion).

For example, the health budget jumped from 5.5% to over 14% of the total budget. The opposition argued deputies could not properly evaluate the revised budget before voting. The government defended the changes as necessary updates. Frelimo has enough seats to pass the budget without opposition support.

Read the original article here: https://clubofmozambique.com/news/mozambique-assembly-approves-budget-for-2024-aim-report-250437/

The government of Bermuda has announced plans to issue a blue bond and establish a new blue and green investment fund to support ocean conservation and decarbonization in the island nation. As one of the largest custodians of marine environments globally, responsible for over 460,000 square kilometres of ocean including the ecologically significant Sargasso Sea, Bermuda aims to position itself as a global hub for climate risk capital and insurance through these new financial mechanisms.

Blue bonds allow governments and organizations to raise funds for marine and ocean-based projects that have positive environmental, economic and climate benefits. The proceeds from Bermuda’s blue bond will likely support sustainable fisheries, restoration of coral reefs and mangroves, and the transition to clean energy and low-carbon transportation. The blue and green investment fund will provide further financing for these initiatives while generating returns for global investors.

Read the original article here: https://www.ifre.com/story/4264946/bermuda-planning-blue-bond-and-new-climate-fund-zjmx6nbtp9

Nvidia, known for its graphics processing units (GPUs), is engaged in advanced negotiations with YTL, a diversified Malaysian conglomerate, for a potential data center collaboration. The talks are likely to center around YTL’s existing data center complex located in Iskandar Puteri, Johor. The facility is strategically positioned near the border of Singapore, allowing access to major regional connectivity routes.

The collaboration would effectively enable Nvidia to expand its data center footprint in the high-growth Southeast Asian market. Its advanced AI chips, including graphics processing units designed for data center usage, are in high demand among technology companies and research institutions.

According to sources, the partnership is still under discussion and financial terms have not been disclosed. However, the deal has significant strategic value for both companies. For Nvidia, it represents an opportunity to grow its presence in Southeast Asia. For YTL, pairing its infrastructure with Nvidia’s technology could provide a competitive edge in vying for regional cloud computing customers.

Read the original here: https://www.moneycontrol.com/news/world/nvidia-in-talks-with-malaysias-ytl-on-data-center-deal-11872961.html