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A Pivotal Convergence of Power, Expansion, and Western Relations

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A Pivotal Convergence of Power, Expansion, and Western Relations

The 15th BRICS Summit, a gathering of leaders from Brazil, Russia, India, China, and South Africa, is set to redefine global dynamics as it convenes in Johannesburg. With an agenda that includes the possible expansion of the emerging market grouping, the ongoing war in Ukraine, and intricate relations with the West, the summit is poised to be a pivotal moment in international politics.

The Gathering of Power

Hosted by South African President Cyril Ramaphosa, the current BRICS chair, the meeting brings together Chinese President Xi Jinping, Brazilian President Luiz Inácio Lula da Silva, Indian Prime Minister Narendra Modi, and Russian Foreign Minister Sergei Lavrov. Russian President Vladimir Putin will join virtually, given the current arrest warrant from the International Criminal Court for war crimes.

The summit has attracted 67 leaders from across Africa, Latin America, the Middle East, Asia, and the Caribbean, excluding Western leaders. Dignitaries such as the U.N. secretary-general, chair of the African Union Commission, and president of the New Development Bank are also in attendance.

Expansion: A Central Focus

A defining aspect of the summit is the potential expansion of BRICS, with over 40 countries expressing interest in joining, including major economic hubs like Nigeria, Saudi Arabia, and Iran. A total of 23 countries have formally applied, including Saudi Arabia, Iran, the UAE, Argentina, Indonesia, Egypt, and Ethiopia.

However, the informal nature of many expressions of interest highlights the global divide that many countries are attempting to navigate. Gustavo de Carvalho, a senior researcher at the South African Institute of International Affairs, noted that final decisions on new members are unlikely to emerge from the summit. Instead, the aim will be to establish a clear process, criteria, and timeframe for applications and admittance.

Differing Views on Expansion

India has historically been cautious about expansion, fearing increased Chinese influence within BRICS. Russia, on the other hand, has become more vocal in accepting expansion due to its international isolation. Brazil’s stance has shifted, with the Lula administration voicing concern about potentially diluting the group’s effectiveness.

In a televised address, Ramaphosa explicitly supported expansion, particularly for fellow African nations. This support comes in light of punitive Western economic sanctions against Russia, leading other BRICS and affiliated countries to seek ways to reduce risk exposure in the international financial system.

The Anti-Western Tone and the Three Camps

Russian and Chinese officials have struck an increasingly anti-Western tone, looking to build support for a broad coalition to challenge U.S. dominance, reports CNBC. While some analysts have suggested a significant anti-Western turn, South Africa, India, and Brazil have signaled an intention to maintain closer ties with traditional Western partners.

Some reports have cited Chinese officials aiming to position BRICS as a direct geopolitical rival to the G7. However, Ramaphosa insisted that South Africa would “not be drawn into a contest between global powers” and sought to retain its independence in an “increasingly polarized” world.

BRICS vs. G7: Rivalry or Cooperation?

The BRICS group operates on consensus and collaborates on aspects of its various economies where interests align, rather than forming a unilateral “alliance”. Steven Gruzd, head of the African governance and diplomacy program at the SAIIA, argued that BRICS “already is a rival to the G7” as it has established itself as one of the pre-eminent voices of the emerging economies.

The world has witnessed a division into three camps due to the Russian invasion of Ukraine – pro-West, pro-Russia-and-China, and non-aligned. These splits are set to continue and widen, especially as the non-aligned face enormous pressure to join other camps.

What BRICS Is and What It Is Not

Though much of the narratives surrounding BRICS focus on growing Chinese and Russian influence, there is a mistaken assumption that China has “unlimited influence” within the other BRICS societies. The freedom of BRICS countries to chart their courses on global issues has been highlighted in responses to Russia’s war in Ukraine.

“It is often useful to reflect on what BRICS is not: BRICS is not an alliance,” de Carvalho insisted. The hope for this summit is to foster more nuanced discussions around what BRICS is and what it is not, providing a clearer understanding of this institution’s role in global engagement.

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Finance

Wipro Appoints Aparna C Iyer as Chief Financial Officer

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wipro30jan2023

EAST BRUNSWICK, N.J. & BENGALURU, India–(BUSINESS WIRE)–$WIPRO #Appoints–Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced that it is appointing Aparna C Iyer as Chief Financial Officer, effective immediately. Aparna will report to CEO Thierry Delaporte and will join the Wipro Executive Board. She succeeds Jatin Dalal, who is stepping down as CFO to pursue other career opportunities.


1695362363 398 Wipro Appoints Aparna C Iyer as Chief Financial Officer

“Aparna is an accomplished and results-driven leader. Throughout her 20-year career with Wipro, she has been a dynamic, forward-thinking strategic partner to our business leaders,” said Thierry Delaporte, Chief Executive Officer and Managing Director, Wipro Limited. “Aparna has been integral to our finance transformation over the last few years, playing a key role in our financial strategy and planning, investment programs, and transformation initiatives. Her commitment to creating lasting value, expertise across the full spectrum of finance operations, and her experience in working with a range of stakeholders will be instrumental in achieving our financial objectives.

“I also want to thank Jatin for his contributions to Wipro over his tenure and wish him the best in his future endeavors.”

Aparna joined Wipro in April 2003. Over her 20 years with Wipro, she has held several finance roles, including Internal Audit, Business Finance, Finance Planning and Analysis, Corporate Treasury and Investor Relations, and, most recently, Senior Vice President and CFO of Wipro FullStride Cloud. Aparna has deep expertise in financial risk management, capital allocation, fund raising, driving business strategy and growth.

“I am thrilled to take on the role of CFO at this important juncture for Wipro,” said Aparna. “As we continue our transformation journey, I look forward to working with Thierry, our finance team and the entire organization to build on our successes, drive sustainable growth, and create value for our stakeholders.”

Aparna is a Chartered Accountant (CA) and was a gold medalist of the CA 2002 batch.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With 250,000 employees and business partners across more than 60 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com

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Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Contacts

Media Contact:
Sanuber Grohe

[email protected]

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Entertainment

GDEV Demonstrates Ongoing Commitment to Best Sustainability

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GDEV Demonstrates Ongoing Commitment to Best Sustainability

Limassol, Cyprus, Sept. 22, 2023 (GLOBE NEWSWIRE) — GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its second Sustainability Report, with examples of the company’s strategic resilience in 2022 and committing to carbon neutrality by 2030 across its Scope 2 emissions.

The company’s approach to sustainability reflects its responsibility to the millions of players it serve worldwide. GDEV Sustainability Report demonstrates the commitment to positive impact for society, employees, and the environment, disclosing information based on SASB Standards. Furthermore, GDEV has made a commitment of becoming carbon neutral by 2030 across its Scope 2 emissions.

GDEV has also adopted a new Inclusion & Diversity policy, outlining GDEV’s and its studios’ approach to promoting and achieving equality, fairness, and respect for all employees, partners, and players worldwide.

Andrey Fadeev and Boris Gertsovskiy, co-founders of GDEV, jointly stated, “We have learned to be very adaptable in addressing external challenges by implementing deep, fundamental changes to our operating and corporate structures. This has not only helped us to navigate numerous geopolitical, macroeconomic, and industry-related difficulties but also to establish a solid foundation for GDEV’s commitment to future sustainable growth.”

Natasha Braginsky Mounier, Chairperson of the Board of Directors, said “GDEV’s sustainability report is our roadmap to continue enhancing our positive impact and growth mindset in an ever-changing world.”

GDEV’s Second Sustainability Report and Policies can be found in the Sustainability section on the company’s website: gdev.inc/sustainability.

About GDEV

GDEV is a gaming and entertainment company, focused on growing and enhancing its portfolio of studios. With a diverse range of subsidiaries, including Nexters, Cubic Games, Dragon Machines, and more, GDEV strives to create games that inspire and engage millions of players for many years. Its franchises, such as Hero Wars, Island Questaway, Pixel Gun 3D, Throne Rush and others have accumulated hundreds of millions of installs worldwide. For more information, please visit gdev.inc

Contacts
Investor Relations
Roman Safiyulin | Chief Corporate Development Officer
investor-at-gdev.inc

Cautionary statement regarding forward-looking statements

page1image9394368

Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2022 Annual Report on Form 20-F, filed by the Company on June 26, 2023, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks oruncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

GDEV

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Political

Vast Receives Equity Commitment for up to USD $10 Million From Canberra Airport Group

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America's Motors Presents Live Turo Mastermind

Canberra Airport Group has committed to purchase USD $5 million of Vast ordinary shares and conditionally a further USD $5 million of Vast ordinary shares ahead of Vast’s US public listing

SYDNEY & HOUSTON–(BUSINESS WIRE)–Vast Solar Pty Ltd (Vast), a world-leader in concentrated solar thermal power (CSP) energy systems, today announced that it has entered into a subscription agreement with Canberra Airport Group (Canberra Airport) to purchase up to USD $10 million of Vast ordinary shares at an approximate price of USD10.20 per share through an investment vehicle. The agreement is subject to closing of the previously announced business combination between Vast and Nabors Energy Transition Corp. (NETC).


1695448585 751 Vast Receives Equity Commitment for up to USD 10 Million

Canberra Airport’s investment recognises the potential for Vast’s technology to be used to produce low-cost sustainable aviation fuels, a key challenge for the aviation industry as it aims to achieve decarbonisation targets.

Vast’s proprietary CSP v3.0 technology has received significant support from the Australian Renewable Energy Agency (ARENA), which recently announced approval for up to AUD $65 million in grant funding to support the construction of Vast Solar 1 (VS1), a 30MW CSP plant with 288 MWh of thermal storage located in Port Augusta, South Australia.

VS1 will be co-located with Solar Methanol 1 (SM1), a world-first green methanol demonstration plant which has been selected to receive AUD $19.48 million and EUR €13.2 million of grant funding from a collaboration between the Australian and German Governments, respectively.

USD $5 million of Canberra Airport’s commitment will serve as a backstop for subsequent capital raised by Vast from additional third-party debt or equity financing sources and is subject to a nominal commitment fee.

The investment is another in Canberra Airport’s long-standing and deep commitment to implementing sustainability measures throughout its business, including solar generation, rainwater harvesting, carbon sequestration, alternative agriculture, and wind farming.

Stephen Byron, Managing Director of Canberra Airport, said: “We are confident in Vast and know that its unique technology will be important to power the grid and green fuels projects including Sustainable Aviation Fuel and methanol for shipping. We have been conducting due diligence of Vast for some time and are delighted to be investing in the growth of the business.”

Craig Wood, CEO of Vast, said: “Canberra Airport’s commitment will help us accelerate the global implementation of our proprietary CSP v.3.0 technology for the decarbonisation of methanol and sustainable fuel production. Canberra Airport’s extensive experience and long history in the aviation industry will be tremendously valuable as we start to produce sustainable aviation fuels in the coming years.

This is a significant step towards the completion of the business combination and will help us bring our Australia-made technology to the world,” he added.

About Vast

Vast is a renewable energy company that has developed CSP systems to generate, store and dispatch carbon free, utility-scale electricity and industrial heat, and to enable the production of green fuels. Vast’s CSP v3.0 approach to CSP utilises a proprietary, modular sodium loop to efficiently capture and convert solar heat into these end products.

Visit www.vast.energy for more information.

About Canberra Airport Group

Canberra Airport Group is a family-owned company with over 45 years of experience in property development and asset management across multiple asset classes. Since its purchase of Canberra Airport in 1998, it has invested over $2 billion in aviation, commercial and retail infrastructure to grow the airport precinct into a modern and sophisticated transportation and business hub.

Visit www.canberraairport.com.au for more information.

About Nabors Energy Transition Corp.

Nabors Energy Transition Corp. (NYSE: NETC, NETC.WS, NETC.U) is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganisation or similar business combination with one or more businesses or entities. NETC was formed to identify solutions, opportunities, companies or technologies that focus on advancing the energy transition; specifically, ones that facilitate, improve or complement the reduction of carbon or greenhouse gas emissions while satisfying growing energy consumption across markets globally.

NETC is an affiliate of Nabors Industries Ltd. (“Nabors”), a leading provider of advanced technology for the energy industry. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors, which owns the global industry’s largest fleet of land drilling rigs and equipment, is committed to innovate the future of energy and enable the transition to a lower-carbon world.

Important Information about the Business Combination and Where to Find It

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.

In connection with the proposed business combination (the “Business Combination”) between Vast Solar Pty Ltd (“Vast”) and Nabors Energy Transition Corp. (“NETC”), Vast has filed a registration statement on Form F-4 (File No. 333-272058) (as amended, the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”), which includes (i) a preliminary prospectus of Vast relating to the offer of securities to be issued in connection with the proposed Business Combination and (ii) a preliminary proxy statement of NETC to be distributed to holders of NETC’s capital stock in connection with NETC’s solicitation of proxies for the vote by NETC’s stockholders with respect to the proposed Business Combination and other matters described in the Registration Statement. NETC and Vast also plan to file other documents with the SEC regarding the proposed Business Combination. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to the stockholders of NETC. INVESTORS AND SECURITY HOLDERS OF NETC AND VAST ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT HAVE BEEN OR WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

Investors and security holders are able to obtain free copies of the proxy statement/prospectus and other documents containing important information about NETC and Vast once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. In addition, the documents filed by NETC may be obtained free of charge from NETC’s website at www.nabors-etcorp.com or by written request to NETC at 515 West Greens Road, Suite 1200, Houston, TX 77067.

Participants in the Solicitation

NETC, Nabors, Vast and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of NETC in connection with the proposed Business Combination. Information about the directors and executive officers of NETC is set forth in the Registration Statement. To the extent that holdings of NETC’s securities have changed since the amounts printed in the Registration Statement filed on June 29, 2023, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Registration Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph.

Forward Looking Statements

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the proposed Business Combination, NETC’s and Vast’s ability to consummate the proposed Business Combination, the benefits of the proposed Business Combination, the proposed financing from Capital Airport Group (“CAG”), CAG’s ability to provide the proposed financing and NETC’s and Vast’s future financial performance following the proposed Business Combination, as well as NETC’s and Vast’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on NETC and Vast management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, NETC and Vast disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. NETC and Vast caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of NETC and Vast. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to complete the Business Combination or the convertible debt and equity financings contemplated in connection with the proposed Business Combination, including the proposed financing from CAG (the “Financing”) in a timely manner or at all (including due to the failure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the satisfaction of the minimum trust account amount following redemptions by NETC’s public stockholders and the receipt of certain governmental and regulatory approvals), which may adversely affect the price of NETC’s securities; the inability of the Business Combination to be completed by NETC’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by NETC; the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination or the Financing; the inability to recognize the anticipated benefits of the proposed Business Combination; the inability to obtain or maintain the listing of Vast’s shares on a national exchange following the consummation of the proposed Business Combination; costs related to the proposed Business Combination; the risk that the proposed Business Combination disrupts current plans and operations of Vast, business relationships of Vast or Vast’s business generally as a result of the announcement and consummation of the proposed Business Combination; Vast’s ability to manage growth; Vast’s ability to execute its business plan, including the completion of the Port Augusta project, at all or in a timely manner and meet its projections; potential disruption in Vast’s employee retention as a result of the proposed Business Combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Vast or NETC, including in relation to the proposed Business Combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Vast’s products and services. Additional risks are set forth in the section titled “Risk Factors” in the Registration Statement and other documents filed, or to be filed with the SEC in connection with the proposed Business Combination. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact NETC’s expectations can be found in NETC’s periodic filings with the SEC, including NETC’s Annual Report on Form 10-K filed with the SEC on March 22, 2023 and any subsequently filed Quarterly Reports on Form 10-Q. NETC’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Contacts

Vast
For Investors:

Caldwell Bailey

ICR, Inc.

[email protected]

For US Media:

Matt Dallas

ICR, Inc.

[email protected]

For Australian media:

Nick Albrow

Wilkinson Butler

[email protected]

Nabors Energy Transition Corp.
For Investors:

William C. Conroy, CFA

Vice President – Corporate Development & Investor Relations

[email protected]

For Media:

Brian Brooks

Senior Director, Corporate Communications

[email protected]

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