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Mumbai-headquartered private sector lender <keyword id="45660" type="CITY" weightage="100" keywordseo="Yes-Bank">Yes Bank</keyword> has struck a deal with the Overseas Private Investment Corporation (<keyword id="713562" type="ORGANIZATION" weightage="100" keywordseo="OPIC">OPIC</keyword>), an arm of the US government's development finance institution, for a loan of $220 million (about Rs 1,350 crore). This loan is part of the $1-billion OPIC assistance, which was announced by President <keyword id="15962" type="PERSON" weightage="60" keywordseo="Barack-Obama">Barack Obama</keyword> during the India-US Business Summit. The loan is for a period of 12 years. 
 
"Specifically, $100 million of the financing would be used to support either micro-SMEs or SMEs in underserved rural and urban markets. The agreement underscores OPIC's commitment to growing the small and medium business sector in India" Yes Bank said in a statement. 
 
The contribution of Micro, Small and Medium Enterprises (MSME) sector is about 40% to India’s exports and about 35% to the GDP. 
 "It is a very meaningful agreement. This deal will also allow us to go into the underserved areas and to go into urban areas. This will be a very important part of our deliverables," said <keyword id="128581" type="PERSON" weightage="100" keywordseo="Rana-Kapoor">Rana Kapoor</keyword>, managing director and chief executive officer (CEO) of Yes Bank. 
 
The MoU was signed by OPIC president and CEO Elizabeth Littlefield and Yes Bank’s Kapoor. 
 
"We are excited to announce our partnership with Yes Bank in anticipation of the economic growth it will spur," said Littlefield.

Yes Bank Signs MoU Worth $220 Million With The US Govt’s OPIC

<a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZY21DGA7&amp;SMLS=1&amp;RW=1498&amp;RH=896#/SearchResult&amp;VBID=2C0BXZY21DGA7&amp;SMLS=1&amp;RW=1498&amp;RH=896&amp;POPUPPN=3&amp;POPUPIID=2C0408WTAVZFG">REUTERS/Joshua Roberts</a><ul class="summary-list"><li>Morgan Stanley promoted 130 new managing directors across the firm for its 2020 class, one of its smallest in years.</li><li>The managing-director title at the investment bank is among the most coveted on Wall Street.</li><li>Business Insider got the full list of names of all the newly promoted MDs. </li><li><a href="https://www.businessinsider.com/prime">Visit BI Prime for more stories</a></li></ul>Morgan Stanley just <a href="https://www.businessinsider.com/morgan-stanley-has-promoted-130-new-managing-directors-for-2020-2020-1">promoted 130 new managing directors</a> across the firm. That's one of the smallest MD classes at the bank in years, with the promotions coming amid cost-cutting efforts in recent months, <a href="https://www.reuters.com/article/us-morgan-stanley-layoffs/morgan-stanley-cutting-jobs-due-to-uncertain-global-environment-source-idUSKBN1YD24O">including 1,500 layoffs</a> announced in December.The bank <a href="https://www.businessinsider.com/morgan-stanley-internal-memo-with-2019-managing-director-promotions-list-2019-1">promoted 145 managing directors</a> in 2019 and <a href="https://www.businessinsider.com/morgan-stanley-announces-2018-managing-director-promotions-2018-1">153 in 2018</a>.The managing-director title at the investment bank is among the most coveted on Wall Street.Other stats about the 2020 class:<ul><li>Investment banking led the way, accounting for 25 new MDs.</li><li>Other top divisions: Fixed-income (16), Institutional Equity (14), and Wealth Management (13) and Investment Management (13).</li><li>Twenty-five percent of the new managing directors are women, which boosts the firm's overall female managing-director population to 21%, its highest mark to date.</li><li>In the US, 4% of the new managing directors are black, 4% are Hispanic, and 17% are Asian.</li><li>Fifty-eight percent of the 2020 class is based in the Americas, 20% in Europe, the Middle East, and Africa, and 22% in Asia.</li></ul>Morgan Stanley is scheduled to report fourth-quarter-earnings results on Thursday.<h3>Here's the full list of Morgan Stanley managing director promotions for 2020:</h3>Institutional EquityKevin BarryCourt CraneLeon DeanCiaran KelleherPaul KouchRaghav MittalRubens Opice NetoMark PembertonStephanie ShapiroSimon SimsSowmya ViswanathNick VolbiDavid WallisBryn YoungFixed IncomeArthur BakerPatrick BonifantAlexander ChiltonAndrej CiupakDan CostinPatrick CroninStephen DanceMin FanSiok-Hong GanRyo IwabuchiMislav Krizanovic De CorbaviaLoris NazarianZiyad RizkallahMichael RosnerBrian ZakutanskyKristin ZekisInvestment BankingWilliam BertagnaVikas BharathwaajDennis CrandallValerie DixonJonathan DunlopRujira HongladarompRichie JainAnkur LutherAntonio MadridDaisuke MoritaShirav PatelMalte PaulIlya PeltsPradyut PratapSundareswaran SShingo SatoDean ScottKenneth SunJames TalbotBen TeasdaleRavi TiwariNeil VibhakarMichael VollmerichCroft YoungAnthony ZammitGlobal Capital MarketsLauren Garcia BelmonteKenji HaradaEmily LainoMichael ManfredVittorio MongeDavid MorrisseyErica MuiSammy NaikWinnie WuResearchJames FaucetteSimeon GutmanRobin XingGary YuBank Resource ManagementEd BrackenKrish ChadaUS BanksGreg BadigianJosh KuropatkinMoira SullivanJosh Van AalstWealth ManagementMarc DextrazeJennifer FreemanSharad GaneshVanessa HenleyHugo HilgendorffChris McFaddenMichael McGowanRobert MeredithAlicia RichPaul ServidioDaniel SkellyLindsay StarrAnita WolffInvestment ManagementJeffrey J. CorsoAndrea De SimoneMarc FoxTetsuji FuwaPepijn HeinsMichael Lanigan KaicherWilliam Hughes Milam Jr.Shamik NarotamScott R. NorbySheila TanWendy WangLei XuJill YtuarteTechnologyCarmen ChongBrian CoyleTerence CurdJeanette GambleDmitriy HolstenSatish KamathSean ManahanLiz RossTony SanchezKarl SchimmeckJimmy SharmaNeda SiadatanOperationsIvy GongChetan JainFinanceMargalit ConnollyJonathan LamSteven StojanowskiLegal and ComplianceJungmin AnIris ChiuPatrick HeniganAlanna LeeJane MorrilRyo OkamuraHuman ResourcesKate WallRisk ManagementAliah GreeneThomas JacobMelissa SmithAdministrationJessica Leigh SchnurrInternal AuditFrederick PhilippeCaillate Simon Andrew Goulty <h3>NOW WATCH: <a href="https://www.businessinsider.com/quentin-tarantino-movies-steals-cinema-homage-reference-2019-7">How Golden Globes winner Quentin Tarantino steals from other movies</a></h3>

Here's the full list of 130 Morgan Stanley employees who just got promoted to managing director - one of the most coveted titles on Wall Street

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Ng Han Guan, File/AP ImagesLithium-ion batteries will help bring about the electric car revolution.</div></div></div><ul class="summary-list"><li>Over the next 20 years, sales of electric vehicles are predicted to outstrip petrol and diesel engine cars.</li><li>That has huge implications for the supply of metals that go into these vehicles.</li><li>South African mining tycoon Brian Menell says China controls most of the supply for rare earth metals, lithium, and other important technology metals.</li><li>He has founded TechMet to help challenge that dominance and says it could be a $1 billion company in five years.</li></ul>By 2040, more people will be buying electric cars than traditional petrol and diesel engine vehicles, <a href="https://about.bnef.com/electric-vehicle-outlook/#toc-download">according to BloombergNEF data</a>.That is good news for the environment, but the shift towards lithium-ion battery-powered cars has huge implications for a complex global supply chain that is currently dominated by China.Lithium-ion batteries heralded a consumer tech revolution, given they're used to power smartphones and laptops, but demand for lithium and other battery metals will spiral given the amounts needed for electric cars."Large lithium-ion batteries are a hell of a lot bigger, and have more of these metals than cellphone batteries," says Brian Menell, a South African mining tycoon who has spotted an opportunity."[When] demand goes from the present three or four million electric vehicles to 100 million, 200 million over the next 10 or 15 years... the scale of inputs required is way beyond anything before in industrial history."Menell has set up TechMet, a company which is building up stakes in companies and mining projects related to the key ingredients for lithium-ion batteries, magnets, and circuit boards, such as lithium, cobalt, nickel, tin, tungsten, and rare earth metals. Collectively, these are known as technology metals.He says the timing is particularly important because China has historically dominated the production of the metals now needed for electric cars. That is awkward given there is a US-China trade war raging right now. "It's a competitive issue, and a massive national security issue in the US," Menell says.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Kemet Global/YouTubeBrian Menell.</div></div></div><a href="https://bnef.turtl.co/story/evo2018?teaser=true">According to BloombergNEF</a>, China will control 73% of the global lithium-ion battery manufacturing capacity by 2021. And Chinese companies are striking huge deals with US firms, like <a href="https://www.bloomberg.com/news/articles/2018-09-21/chinese-lithium-giant-agrees-three-year-pact-to-supply-tesla" target="_blank" rel="noopener">Ganfeng Lithium's agreement last year with Tesla</a>, under which it will supply a fifth of its production to Elon Musk's carmaker.Menell said TechMet alone can't counter Chinese dominance, given the nation's wealth and long-term vision. "We can play a role in balancing the sources of supply for European and Japanese industry. We can play a role in educating government agencies with respect to the landscape, and how to engage in the pipeline to better protect their interests," he said.Read more: <a href="https://www.businessinsider.com.au/china-just-locked-in-its-position-as-a-dominant-player-in-electric-vehicle-production-2018-3">China locked in its position as a dominant player in electric vehicle production</a>The firm has interests so far in a range of tin and tungsten mines in Rwanda, a nickel project in Brazil, a Canadian lithium recycling plant, and a rare earth concentrates partnership in Bundi. Menell is in the process of raising an $80 million round, and says his conservative estimate is that TechMet will be worth $1 billion in five years time, when he plans an IPO.Menell says recycling battery metals alone is big business, estimating that 35% of battery metals could come from recycling. "It's a $10, $15 billion dollar business," he said. "We believe we can secure first-mover advantage."Investors in TechMet to date include high-net-worth individuals. Menell is hoping to attract government agencies in a future round, and is in talks with OPIC, the US government's development finance organisation, and Japan's Bank for <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international">International</keyword> Cooperation (JBIC). <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-your-phone-smartphone-stops-working-when-its-cold-2016-10">The science behind why your phone shuts down when it's cold outside</a></h3> <div> </div> </div>

A mining tycoon has a $1 billion plan to release China's chokehold on the global electric car race

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Yes Bank Signs MoU Worth $220 Million With The US Govt’s OPIC

BI India Bureau

Here's the full list of 130 Morgan Stanley employees who just got promoted to managing director - one of the most coveted titles on Wall Street

Alex Morrell

A mining tycoon has a $1 billion plan to release China's chokehold on the global electric car race

Shona Ghosh

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