Day: June 16, 2020

Chesapeake Energy To File For Bankruptcy, Potentially This Week- Report

Fracking pioneer Chesapeake Energy Corp (CHK) is preparing to file for bankruptcy as soon as this week, three people familiar with the matter have told Reuters.

According to the Reuters sources, CHK is now wrapping up negotiations for a $900 million debtor-in-possession loan. It is also discussing with creditors the potential to “roll up” its existing debt and make it part of the bankruptcy loan, bringing the total debtor-in-possession financing closer to $2 billion, the sources said.

At the same time the company is also looking for an equity infusion from creditors. Chesapeake plans to file for bankruptcy

Transmission Towers export success to Latin America at this time of transmission of coronavirus

Karamtara is already executing another contract in Chile for the supply of towers worth 5 million dollars.

By R. Viswanathan

An Indian company, Karamtara Engineering Pvt Ltd, have just won a contract of USD 8 Million for the supply of Transmission Line Towers from ENDE the national electric utility company of Bolivia. The towers will be made at their plant in Tarapore, near Mumbai.

Karamtara is already executing another contract in Chile for the supply of towers worth 5 million dollars. Since 2014, Karamtara has supplied towers to the tune of 67 million dollars to Colombia and Peru.

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Alibaba Cloud to invest $283 million to accelerate global partner ecosystem

Alibaba Cloud is working with close to 10,000 global partners serving more than 3.5 lakh business customers globally. (Reuters photo)

Alibaba Cloud, the data intelligence backbone of Alibaba Group, on Tuesday said it will invest RMB 2 billion (USD 283 million or about Rs 2,144 crore) during this fiscal year to empower global partners and accelerate joint innovations in the post-pandemic era.

The investment aims to help its partners in accelerating their digitalisation capabilities and create joint products and solutions to benefit even more customers across all sectors, a statement said.

Commenting on the Indian ecosystem, Alibaba Cloud South Asia