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Huichang Technology stated on its interactive platform that its Ollobot brand AI interactive terminal products are still in the development and verification stage, and the specific product forms and series plans will be dynamically evaluated and promoted in combination with user and market feedback.On January 21, Hong Kong Financial Secretary Paul Chan Mo-po, speaking at an event related to the World Economic Forum Annual Meeting in Davos, Switzerland, stated that Hong Kong, as an international financial center, adopts a proactive yet prudent approach to developing digital assets. Since 2023, Hong Kong has issued licenses to 11 virtual asset trading platforms and expects to issue stablecoin licenses later this year. Furthermore, the Hong Kong SAR government is leading by example in promoting tokenization, including issuing three tranches of tokenized green bonds totaling approximately US$2.1 billion, and launching a regulatory sandbox to encourage application innovation.On January 21, the Indonesian Attorney Generals Office announced on Wednesday that it will auction off an Iranian-flagged supertanker later this month. The tanker was seized in 2023 on suspicion of involvement in illegal crude oil transshipment. Indonesian authorities stated that the tanker, named "MT Arman 114," is over 300 meters long and was seized in the North Natuna Sea in 2023 on suspicion of transferring oil to another vessel without permission. The Very Large Crude Carrier (VLCC) will be auctioned on January 30, with a starting price of 1.17 trillion Indonesian rupiah (approximately US$69.01 million). Its cargo, including nearly 170,000 tons of light crude oil, will also be auctioned. Iran denied ownership of the tanker in 2023.On January 21, the daily gas supply of the national main natural gas pipeline network managed by the State Pipeline Group reached 1.1 billion cubic meters, setting a new single-day peak supply record. Recently, northern, central-eastern, and southern my country have experienced a sharp drop in temperature, leading to a surge in natural gas demand. As the main operator of the national energy pipeline network, the State Pipeline Group proactively increased its pipeline storage to over 3.6 billion cubic meters, ensuring the high-level operation of its eight self-owned liquefied natural gas (LNG) receiving terminals and laying a solid resource foundation for supply during the cold wave.On January 21st, Daiwa Securities issued a research report re-evaluating its forecast for Tencents (00700.HK) performance last quarter. The report anticipates a slowdown in the groups domestic gaming business due to seasonal factors and a high base effect, while the international gaming business is expected to stabilize after an exceptionally strong third quarter. Furthermore, the report states that recruitment costs for AI talent and GPU leasing will put upward pressure on operating expenses. The report lowered its forecast for the groups gaming revenue for the period due to Tencents overall weak revenue performance last quarter, expecting domestic gaming revenue to reach RMB 37.3 billion, representing a year-on-year increase of 12% but a quarter-on-quarter decrease of 13%. Daiwa lowered its 2026-2027 earnings per share forecast for Tencent by 1-2%, reiterated its "Buy" rating, but lowered its target price from HKD 750 to HKD 725.

General Motors will invest in an Australian mining firm

Charlie Brooks

Oct 12, 2022 11:37

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General Motors Co stated on Tuesday that it will invest up to $69 million and acquire a stake in Queensland Pacific Metals to secure a new supply of nickel and cobalt for battery cells used in U.S. manufacturer vehicles.


GM noted that the investment will enable electric vehicles to qualify for consumer incentives under the United States' new clean energy tax credits. The nickel laterite ore, according to GM, will be processed using a new, patented procedure that reduces waste.


A law enacted in August requires automakers to get battery materials from nations with free trade agreements in order to qualify for U.S. consumer EV tax credits.


GM's investment will help the development of its projected Northern Australia Townsville Energy Chemicals Hub (TECH) Project. GM announced that nickel laterite ore of superior quality will be brought from New Caledonia.


GM has already secured the necessary battery raw materials to reach its goal of 1 million yearly units in North America by 2025.


GM claimed that the "new collaboration builds on these commitments as we seek to secure supply through the end of the decade and contribute to the growth of the EV industry."


The CEO of Queensland Pacific Metals, Stephen Grocott, remarked, "GM's investment in our company and the accompanying offtake brings us one step closer to building the TECH Project."


GM revealed in August that it was prepaying Livent (NYSE:LTHM) Corp $198 million for a guaranteed six-year supply of lithium, a transaction that demonstrates the auto industry's rising anxiety over a tightening market for the metal used in electric vehicle battery cells.


It is uncommon in the mining industry for a metal supply guarantee to be paid for in advance. Livent operates producing facilities for lithium in the United States and Argentina.

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