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Central Bank of Botswana Maintains Policy Rate at 1.90% for Third Straight Meeting

As inflation increased from 1.7% in December to 2.5% in January, Botswanas central bank maintained its policy rate at 1.90% for the third consecutive

As inflation increased from 1.7% in December to 2.5% in January, Botswanas central bank maintained its policy rate at 1.90% for the third consecutive meeting. However, it was still below its 3% to 6% goal range. Due to sluggish international demand, the nations economy, primarily dependent on diamond exports, shrank last year. However, the government anticipates a recovery in 2025, bolstered by advancements in other areas and a revival in the diamond market. Despite economic difficulties, policymakers continue to exercise caution when modifying interest rates and prioritising stability while keeping an eye on inflation patterns and outside market circumstances. The central banks position shows its dedication to striking a mediumterm balance between price stability and economic growth. Read More..

B2B Tech News | 2 days ago        

Argentina’s President Milei Sparks Crypto Frenzy with Libra Memecoin Endorsement

The cryptocurrency market was rocked after Argentine President Javier Milei pushed the Libra memecoin, saying it could boost the countrys economy. Bec

The cryptocurrency market was rocked after Argentine President Javier Milei pushed the Libra memecoin, saying it could boost the countrys economy. Because of rugpull speculation, Libras price crashed by 95% after soaring 3,000% in a few hours to achieve a $4.5 billion market value. Its team allegedly cashed out $107 million, and reports showed that eight wallets had 83% of the token supply. After removing his promotional tweet, President Milei denied involvement in the proposal and issued a warning against it. Crypto intelligence companies connected Libra to Trumprelated memecoins, and attorneys accused him of encouraging fraud. As companies turned away from launch strategist Hayden Mark Davis, whose firm Kelsier Venturer purportedly oversaw Libras launch, the scandal grew more intense. Many things are still unclear. Read More..

B2B Tech News | 2 days ago        

Standard Chartered Announces $1.5 Billion Buyback as Annual Profit Surges 18%

After reporting an 18% increase in annual earnings to $6 billion, driven by record wealth business growth and outstanding market division performance,

After reporting an 18% increase in annual earnings to $6 billion, driven by record wealth business growth and outstanding market division performance, Standard Chartered announced a $1.5 billion share repurchase. To increase income growth, the bank has spent $1.5 billion over five years on marketing, client centres, and digital platforms, emphasising Asia, Africa, and the Middle East. In 2024, it added $44 billion in new assets, a 61% increase from the previous year, and 265,000 new wealthy clients. By 2029, the bank wants to produce $200 billion in net new money. Like HSBC, StanChart is pulling out unprofitable retail banking areas and growing wealth management to offset falling interest income. Read More..

B2B Tech News | 2 days ago        

Abrdn in Advanced Talks with Citic Bank for China Asset Management Venture

To increase its presence in the secondlargest economy in the world, UKbased asset manager Abrdn is in advanced negotiations with Citic Bank to establi

To increase its presence in the secondlargest economy in the world, UKbased asset manager Abrdn is in advanced negotiations with Citic Bank to establish an asset management joint venture in China. Citic Wealth, the wealth management division of Citic Bank, is anticipated to own the remaining shares, with Abrdn likely to hold the majority. Later this year, regulatory permission is expected to occur. After highlevel UKChina economic negotiations recently resumed, the talks picked up steam. Despite previous disappointments for international businesses operating in Chinas wealth sector, interest has been rekindled by market recovery and Beijings stimulus plans. If it succeeds, this partnership would be the second of its kind between a Chinese bankowned wealth business and a British company, following Schroders agreement with Bank of Communications in 2021. Read More..

B2B Tech News | 2 days ago        

New Zealand’s Economy Shows Signs of Recovery After Mid2024 Slump

According to RBNZ Chief Economist Paul Conway, the New Zealand economy bottomed out in the middle of the year and only started to recover in December

According to RBNZ Chief Economist Paul Conway, the New Zealand economy bottomed out in the middle of the year and only started to recover in December 2024. Highfrequency data indicates that some businesses are improving, but there are still uncertainties, and companies might be hesitant to employ until growth levels out. Outside of the epidemic, the economy saw its most significant drop since 1991 in Q3 2024. After raising interest rates sharply to 5.5%, the RBNZ lowered them by 175 basis points to spur growth as inflation subsided. The central bank contemplated rate decreases of 25 or 75 basis points before its most recent policy review but finally decided that a 50 basis point drop was the best option. Read More..

B2B Tech News | 2 days ago        

AFSM Launched to Provide Concessional Loans for DebtRidden Nations

The African Financial Stability Mechanism AFSM, which offers concessional loans to governments beset by debt, has been authorised by African leaders.

The African Financial Stability Mechanism AFSM, which offers concessional loans to governments beset by debt, has been authorised by African leaders. The African Development Bank AfDB will oversee the facility, which will have access to global money markets and its credit rating. The AFSM was proposed in 2022 to solve sovereign defaults and debt crises amid the COVID19 pandemic and the war in Ukraine. All member states of the African Union are eligible to join, which will be optional. The program aims to improve financial stability throughout Africa by providing sustainable loan options to faltering economies. The action was taken in response to the growing debt and urgent development demands of many African countries, which call for creative financial solutions to ensure economic growth and resilience. Read More..

B2B Tech News | 3 days ago        

India Boosts Trade with Russia via INSTC as Eastern Route Cuts Costs by 56%

Over the past year, commerce between India and Russia via the International NorthSouth Transport Corridor has increased, with India boosting exports t

Over the past year, commerce between India and Russia via the International NorthSouth Transport Corridor has increased, with India boosting exports to close the trade imbalance. The eastern route of the corridor, which passes through Kazakhstan and Turkmenistan, is now the most efficient, reducing the transit time from Moscow to the port of Bandar Abbas, Iran, to 16 days, which is three times quicker than it was previously. This routes transport costs have decreased by 56%, increasing trade volume by 1.7 times. Russian exports include paper goods, lumber, and food items, while critical Indian exports include clothes, rice, and building materials. With a goal of $100 billion by 2030, bilateral trade reached a record $66 billion in 2024. By March, Russia and Iran are expected to reach a deal to finish the RashtAstara railway, enhancing commercial ties even more. Read More..

B2B Tech News | 3 days ago        

Alpha Data to Launch Abu Dhabi’s First IPO of 2025, Aiming for $163M

In Abu Dhabis first initial public offering IPO in 2025, UAE technology services company Alpha Data hopes to raise $163.2 million. Four hundred millio

In Abu Dhabis first initial public offering IPO in 2025, UAE technology services company Alpha Data hopes to raise $163.2 million. Four hundred million existing shares, valued between 1.45 and 1.50 dirhams, are included in the offering, suggesting a market valuation of up to $408 million. The initial public offering IPO, which will only include shares from Bin Hamoodah and Ibbini Investment, will run from 15 February to 25 February. Trading is anticipated to start on 11 March. Alpha Data anticipates a dividend of 130 million dirhams $35.4 million in 2025. The companys 2024 net profit of 127 million dirhams on 2.32 billion dirhams in revenue was in line with the IPO boom in the Gulf area and efforts to diversify the economy. Read More..

B2B Tech News | 3 days ago        



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