Indonesia is constructing a new capital, Nusantara, in Borneo's rainforest to escape Jakarta's severe land subsidence, flooding, and overcrowding. The project aims for a forest-integrated city, addressing developmental inequality, but faces funding cuts and questions about future presidential commitment.
Russia's Minister of Industry and Trade, Anton Alikhanov, stated at the Innoprom exhibition that Russian businesses see opportunities in Indonesia's infrastructure projects, including the development of the new capital, Nusantara. Russian companies could offer expertise in transport, energy, and utility infrastructure.
Strategy (STRC) announced a new capital framework, including up to $1B in buybacks for MSTR and STRC, a 12% dividend, and a $2.55B cash buffer, to address investor fears of a Terra/LUNA-like collapse. The company may also sell up to $1.25B in BTC holdings.
Strategy has introduced a new "Digital Credit Capital Framework" to monetize Bitcoin holdings, raise cash reserves, and fund dividends and stock buybacks. The company aims to sell up to $1.25 billion in Bitcoin, increase its preferred stock dividend rate, and repurchase securities.
US-based prediction market platform Kalshi is reportedly in talks to raise funds at a $40 billion valuation, nearly doubling its May valuation. The company's value could increase eightfold in less than a year, amid surging investor interest in prediction markets.
Egypt is exporting its experience in establishing a new capital city to African countries, offering technical assistance and expertise. Negotiations are underway with two additional nations, with agreements expected before mid-June, and Egyptian companies set to handle implementation.
India's Union Budget 2024 introduced new capital gains tax rules for property sales, effective July 23, 2024. Long-term gains now face a 12.5% tax without indexation, though residents and HUFs can opt for the old 20% with indexation if beneficial. Short-term gains remain unchanged.
Indonesia is building a new capital city, Nusantara (IKN), in the Borneo jungle with significant Chinese investment. Chinese firms are clearing land and constructing roads, tunnels, and mass transit systems worth a combined 55 trillion rupiah (US$1.57 billion), transforming the ecological area that currently houses endangered sun bears.
After an hour’s drive through the jungle of Borneo, you reach more jungle. Your rental van from the Balikpapan city airport shakes precariously, navigating a partial bridge washout. A roadside sign admonishes against poaching the endangered sun bears. By hour three you’ve arrived at Indonesia’s new capital, which is due to start taking over from gridlocked, polluted and seaward-sinking Jakarta in 2028. Welcome to Ibu Kota Nusantara, known locally as just Nusantara or IKN. Eventually, if all goes...
The new funding rounds are expected to be completed in the next six months, but the firm has already begun deploying some of the new capital, according to a person familiar with the matter.
Blockchain Capital is raising $700 million across two new funds—its seventh early-stage fund and second growth fund—while already deploying capital. The firm led a $12M round for Paxos Labs last week and holds portfolio positions in Coinbase, 1inch, Aave, Circle, and Tether. The fundraising closes in 5-6 months.
The new funding rounds are expected to be completed in the next six months, but the firm has already begun deploying some of the new capital, according to a person familiar with the matter.
