Nvidia to Launch New AI Inference Processor to Boost OpenAI Performance 
Dominican Republic Unveils Massive Rare Earth Deposits to Boost High-Tech and Energy Sectors 
FAA Plans Flight Reductions at Chicago O’Hare as Airlines Ramp Up Summer Schedules 
PBOC Scraps Forex Risk Reserve as Yuan Rally Pressures Chinese Exporters 
Qantas Shares Plunge 10% as Iran Strikes Send Oil Prices Soaring and Disrupt Global Flights 
Lynas Rare Earths Shares Surge 7% After Malaysia Renews Processing Plant Licence for 10 Years 
MOEX Russia Index Hits 3-Month High as Energy Stocks Lead Gains 
The strikes on Iran show why quitting oil is more important than ever 
Coupang Reports Q4 Loss After Data Breach, Revenue Misses Estimates 
Asian Currencies Slide as US-Israel Strikes on Iran Trigger Oil Surge and Risk-Off Rally 
Netflix Stock Jumps 14% After Exiting Warner Bros Deal as Paramount Seals $110 Billion Acquisition 
Australia Housing Market Hits Record High Despite RBA Rate Hike 
ASX CEO Exit Signals Turbulent Transition Amid Lawsuit and Regulatory Scrutiny 
Asian Markets Slide as Nvidia Earnings, U.S.-Iran Tensions and AI Valuations Weigh on Investor Sentiment 
Strait of Hormuz LNG Crisis Triggers Global Energy Market Shock 
Australian Dollar Rallies on Hawkish RBA Outlook; Yen Slips as BOJ Faces Political Pressure 
Japan Manufacturing PMI Jumps to Four-Year High as Global Demand Strengthens 
Posco, a South Korean steelmaking company, was revealed to have signed a partnership agreement with Adani Group, the Ahmedabad, India, headquartered conglomerate. On Thursday, Jan. 13, it was announced that the two would be working together to build a steel mill in India.
Posco said it would build an integrated steel mill in India in partnership with Adani. It further shared that they will also work on other projects that will help reduce carbon emissions.
According to The Korea Herald, Posco and Adani are now checking out one location located in the western state of Gujarat. They are currently considering this as a possible site for the new steel mill that will be built using the estimated investment worth around $5 billion.
“Under the latest deal, Posco’s strength in steelmaking technology and Adani Group’s expertise in energy and infrastructure will create synergy in future sustainable businesses,” Posco’s chief executive officer, Choi Jeong Woo, said in a statement. “I hope this becomes a role-model project for business cooperation between Korea and India.”
Reuters reported that the steel mill project is part of an agreement between Posco and Adani. The deal will also give the former a new opportunity to cash in on the growing demand for steel in the South Asian region.
Their partnership deal is to explore business opportunities using their $5 billion investment, and they are planning to cover other industries, including hydrogen, logistics, and renewable energy.
Adani is also aiming to put in $20 billion in renewable energy in the 10 years as one of its goals is to make its port business a net-zero carbon emitter by the year 2025.
“We are happy to promote cooperation with Posco, which is the most competitive steelmaker in the world. Gautam Adani, Adani Group’s chairman, said. “This partnership will contribute to the growth of the Indian manufacturing industry and play a major role in strengthening our position in future environmental friendly businesses.”
Adani Group was founded in 1988, and it is the biggest energy and logistics company in India. On the other hand, Posco is also the leading steelmaker and one of the top companies in South Korea.
