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Nigeria Seeks $2.25 Billion Loans from World Bank to Address Economic Challenges

Following the IMF/World Bank spring meetings, Nigerias Finance Minister, Wale Edun, declared that the country is seeking loans from the World Bank tot

Following the IMF/World Bank spring meetings, Nigerias Finance Minister, Wale Edun, declared that the country is seeking loans from the World Bank totalling up to $2.25 billion. The loans total $750 million for programforresults funding and $1.5 billion for development policy financing. The government also intends to sell bonds for the diaspora to raise foreign cash. The request will be approved during the June meeting of the World Bank board. Even with recent moves to cut back on government borrowing from the central bank, Nigeria continues to have difficulties with high levels of debt, unemployment, and shortages of foreign money, all of which are reflected in the devaluation of the Naira versus the US dollar. Read More..

B2B Tech News | 14 hours ago        

TI Projects Q2 Revenue Above Estimates, Reflecting Improved Demand for Analog Chips

Texas Instruments TI reported secondquarter revenue that was higher than expected, indicating that the companys analogue semiconductors are in higher

Texas Instruments TI reported secondquarter revenue that was higher than expected, indicating that the companys analogue semiconductors are in higher demand as sales of consumer devices continue to rise. This optimistic view suggests that inventory adjustments for analogue chips may become less frequent. Digitaltophysical communication and device powering are made possible by TIs processors. Sales decreases may still occur in the analogue industry, but prospects for more normal seasonal demand in the following quarters are promising. TIs outlook is positive, with a midpoint sales prediction of $3.8 billion for Q2, above analyst forecasts of $3.77 billion. Analysts see this estimate favourably, speculating that industries such as automotive may be rebounding and that downturns in some segments, including the automobile sector, may not be as bad as expected. Read More..

B2B Tech News | 14 hours ago        

IBM Nears Acquisition of Cloud Provider HashiCorp, Stock Surges by 24%

HashiCorp is a provider of cloud software, and a person with knowledge of the situation said that IBM is nearing the acquisition. After the Wall Stree

HashiCorp is a provider of cloud software, and a person with knowledge of the situation said that IBM is nearing the acquisition. After the Wall Street Journals first article, the news led HashiCorps shares to jump by 24%, hitting a market value of $6.1 billion. To increase the scope of its cloud solutions, IBM has prioritised acquisitions under CEO Arvind Krishna. This is particularly relevant in light of the growing need for generative artificial intelligence, which gains from cloud softwares capacity to handle massive amounts of data. Californiabased HashiCorp, which helps clients set up and maintain their cloud infrastructures, had a 22.5% increase in sales to $583.1 million for the year that ended on January 31. Even if a deal may be sealed shortly, the negotiations might not result in a sale. Read More..

B2B Tech News | 14 hours ago        

Googles €600 Million Investment in Groningen Data Center Set to Boost Job Opportunities

Google, which Alphabet owns, said on Tuesday that it will be investing 600 million euros, or $640.62 million, in a new data centre in Groningen, Nethe

Google, which Alphabet owns, said on Tuesday that it will be investing 600 million euros, or $640.62 million, in a new data centre in Groningen, Netherlands. It is anticipated that this investment will lead to the creation of 125 new jobs. Google has invested more than €3.8 billion in data centres and related digital infrastructure in the Netherlands in the past eight years. The firm underscored its dedication to putting sustainability first and encouraging a positive influence on the neighbourhood during the new data centres development and operation. Read More..

B2B Tech News | 14 hours ago        

Canadas Wealth Gap Widens Amidst Economic Shifts, TD Economics Study Shows

Factors such as inflation, rising interest rates, and falling real estate values have contributed to Canadas widening wealth gap, which disproportiona

Factors such as inflation, rising interest rates, and falling real estate values have contributed to Canadas widening wealth gap, which disproportionately affects middleclass households. According to a TD Economics analysis, there hasnt been this much wage disparity since 2015. Even though household net worth increased overall in 2023, wealthier families benefited more from the increase than other households. Due to the depreciation of their real estate holdings and rising debttoincome ratio, middleclass individuals encountered difficulties. Financial restraints on middleclass families, a significant engine of consumption growth, may cause total consumer spending to decline, while higher income spending is likely to maintain economic resilience temporarily. The shortage of available homes in Canada is also a significant factor contributing to the rise in housing costs. Read More..

B2B Tech News | 14 hours ago        

AU Small Finance Bank Introduces New Financial Products Including Credit Cards and Business App

The AU SPONT Rupay Credit Card and the Secured Credit Card NOMO, secured by a set deposit, are two new financial products that AU Small Finance Bank

The AU SPONT Rupay Credit Card and the Secured Credit Card NOMO, secured by a set deposit, are two new financial products that AU Small Finance Bank has introduced. To make banking services more accessible to MSMEs, the bank released the AU 0101 Business App. Furthermore, AU SFB introduced WhatsApp and ATM Insurance for immediate insurance issuance. With incentives and features like access to airport lounges, the NOMO Credit Card is designed to accommodate customers with little credit history. For smooth transactions, the AU SPONT Rupay Credit Card interacts with applications that support UPI. The banks founder, MD, and CEO, Sanjay Agarwal, stressed the need for safe credit access and cuttingedge solutions, including insurance purchases made via WhatsApp and ATMs. Read More..

B2B Tech News | 14 hours ago        

Spirit AeroSystems Secures $425 Million Advance Payment Deal with Boeing

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels a

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels and cash flow. Spirit AeroSystems and Boeing have agreed to $425 million in advance payments. This action is being taken in the middle of talks about Boeing possibly purchasing its previous subsidiary Spirit, and as the company struggles with the fallout from a midair panel problem involving a new Alaska Airlines 737 MAX 9. As per the agreement, Spirit is required to sustain a production pace that satisfies Boeings contractual requirement, with the latter stressing their joint efforts to improve quality, stabilise operations, and support customers. Additionally, Spirit will give Boeing specific financial data every week, which will help management in the face of fewer anticipated deliveries and higher manufacturing costs due to regulatory decisions. Read More..

B2B Tech News | 14 hours ago        

Teslas Stock Rises Ahead of Quarterly Results Amidst Margin Concerns

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and wani

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and waning demand, Teslas shares increased by 2.9%. The introduction of the Model 3s allwheel drive performance model, which is eligible for federal tax credits, came before CEO Elon Musk was expected to be questioned about the future of the Model 2, which was supposed to be affordable. Refocusing attention on a selfdriving robotaxi, Reuters announced its cancellation. Amid worries over Teslas lagging sales growth and frequent price reductions, Musk escalated rumours by cancelling a meeting with the prime minister of India. Analysts predict that yearly sales will begin to fall in 2024, which indicates a problematic future for the manufacturer of electric cars. Read More..

B2B Tech News | 14 hours ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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