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Zambia Struggles with $7 Billion Debt Burden Despite Previous Deals

Despite an earlier agreement with bilateral lenders handling over $6 billion in debt, Zambia still needs to pay down about $7 billion. The nations sea

Despite an earlier agreement with bilateral lenders handling over $6 billion in debt, Zambia still needs to pay down about $7 billion. The nations search for relief is made more difficult by the outstanding debt that commercial banks and bondholders owe. Despite Zambias best efforts, official creditors, led by France, China, and South Africa, rejected a plan to restructure $3 billion in debt with bondholders last October. This disparity highlights how difficult it will be for Zambia to escape its financial predicament. China has maintained its position as Africas top commercial partner for the past 15 years, with trade expected to reach $282 billion in 2023. Exhibitions such as the Made in Africa expo highlight how African nations, like Cameroon, prioritize industrialization initiatives to lessen their dependency on selling raw materials. Read More..

B2B Tech News | 7 hours ago        

Nvidia Identifies Huawei as Top Competitor in AI Chip Market, SEC Filing Reveals

In a filing with the Securities and Exchange Commission, Nvidia has named Huawei a top rival in several areas, including artificial intelligence proce

In a filing with the Securities and Exchange Commission, Nvidia has named Huawei a top rival in several areas, including artificial intelligence processors, for the first time. The Californiabased business emphasised Huaweis availability as a supplier of AIspecific hardware, such as GPUs, CPUs, and networking devices. The 910B chip from Huaweis Ascend series is positioned as a competitor to Nvidias A100 chip. Given that the AI chip industry in China is projected to be around $7 billion, Huaweis developments provide a formidable obstacle. Nvidia included large cloud computing companies like Amazon and Microsoft as rivals, in addition to Intel, AMD, Broadcom, and Qualcomm. Strong demand for AI drove Nvidias revenue prediction above consensus forecasts. This resulted in a 14% increase in the companys shares. Read More..

B2B Tech News | 7 hours ago        

Grab Holdings Achieves First Quarterly Profit, Signaling Milestone for Company

The ridesharing and food delivery startup Grab Holdings achieved a noteworthy milestone when it revealed its first quarterly profit. Even though Grabs

The ridesharing and food delivery startup Grab Holdings achieved a noteworthy milestone when it revealed its first quarterly profit. Even though Grabs profits were favourable, its shares declined due to its poor year sales projection, which doubted the companys development trajectory. Beyond 2024, the firm hopes to increase revenue while concentrating on developing premium transportation and delivery service options. In addition, Grab declared a $500 million share repurchase programme and predicted adjusted core earnings for the entire year to surpass analyst projections. Even though sales in the fourth quarter exceeded forecasts, an accrual reversal in accounting helped Grabs net profits. The companys accomplishments include the third quarter of the fiscal years first adjusted core profit, made possible by deliberate costcutting efforts over the previous two years. Read More..

B2B Tech News | 7 hours ago        

LTIMindtree Partners with Eurolife FFH and Fairfax Digital Services to Establish Gen AI and Digital Hub in Athens

A Memorandum of Understanding MoU has been signed by LTIMindtree, Eurolife FFH, and Fairfax Digital Services to develop a groundbreaking Gen AI and Di

A Memorandum of Understanding MoU has been signed by LTIMindtree, Eurolife FFH, and Fairfax Digital Services to develop a groundbreaking Gen AI and Digital Hub in Athens, Greece, along with specialised facilities in Mumbai, India, and Poland. The presence of Greek Prime Minister Kyriakos Mitsotakis, Sudhir Chaturvedi, Alexandros Sarrigeorgiou, and Sanjay Tugnait ratified this historic agreement. The relationship aligns with Indias "Anusandhan" plan, which promotes research and innovation. Eurolife FFH will lead the Gen AI and Digital Hub in Athens by utilising the knowledge and experience of LTIMindtree from Mumbai and Poland. This programme aims to provide innovative solutions that will improve customer experience and operational efficiency across many sectors. While Sudhir Chaturvedi emphasised the strategic roadmap for transformational development, Alexandros Sarrigeorgiou emphasised the goal of innovation in the insurance industry. Sanjay Tugnait underscored the partnerships global Read More..

B2B Tech News | 7 hours ago        

MercedesBenz Reports 12.6% Adjusted Return on Sales for Car Division in 2023

In its automotive segment, MercedesBenz revealed an adjusted return on sales for 2023 of 12.6%, which matched its projection. But the business predict

In its automotive segment, MercedesBenz revealed an adjusted return on sales for 2023 of 12.6%, which matched its projection. But the business predicts lower adjusted returns on sales in 2024—10–12% for automobiles and 12–14% for vans—than in 2015. This years adjusted returns on sales were 15.1%. Throughout 2023, sales were affected by supply chain interruptions, inflationary pressures, and pricing rivalry, which remarkably squeezed profits in the electric car market. Due in part to its policy of passing on higher costs to customers, MercedesBenz preserved its position as the best performer among Germanys three major automakers despite these difficulties. The premium carmaker raised R&D expenditures for upcoming innovations like the MB.OS platform and raised typical prices by 2%. Read More..

B2B Tech News | 7 hours ago        

Japanese Stocks Reach Historic Milestone, Surpassing Levels Last Seen in 1989

On Thursday, Japanese equities achieved a historic high, rising above levels last observed in 1989, the year of Japans economic bubble. The Nikkei sha

On Thursday, Japanese equities achieved a historic high, rising above levels last observed in 1989, the year of Japans economic bubble. The Nikkei share average broke its previous intraday high from more than three decades ago, rising to a new top of 39,156.97 points. This accomplishment heralds a new era for traders and investors after a 34year struggle to restore its footing. Japans stock market has outperformed expectations and drawn significant foreign investment despite obstacles, including recessions and geopolitical concerns worldwide. Corporate reforms, strong earnings, and prospects of further monetary policy assistance have driven the markets surge. In contrast to the frothy conditions of the 1980s, the revival of Japanese equities, driven by businesses such as Tokyo Electron and Fast Retailing, offers a more sustainable growth forecast. Read More..

B2B Tech News | 7 hours ago        

Nvidia Beats Analyst Estimates with Strong Fourth Quarter Earnings

Nvidias fourth fiscal quarter profits were above analyst predictions, generating adjusted earnings per share of $5.16 and sales of $22.10 billion, exc

Nvidias fourth fiscal quarter profits were above analyst predictions, generating adjusted earnings per share of $5.16 and sales of $22.10 billion, exceeding Wall Streets expectations. For the current quarter, the business predicted even higher sales of $24.0 billion, citing strong demand for GPUs due to generative AI and the widespread use of accelerators. The net income increased by 769% to $12.29 billion over the prior year. The significant revenue increase was driven by data centre sales, especially for AI processors like the H100, even if US regulations hampered shipments to China. Although the availability of AI GPUs is increasing, the business expects limitations to persist, particularly regarding nextgeneration processors like the B100. Other sectors of the Nvidia business witnessed mixed results, with dropping car sales and a more moderate gain in the companys gaming division. Read More..

B2B Tech News | 7 hours ago        

HSBC Faces Investor Concerns Over Rising Costs Despite Increased Revenues

Investors are becoming more concerned about HSBCs growing costs, which underscore large banks difficulties in controlling costs despite income growth.

Investors are becoming more concerned about HSBCs growing costs, which underscore large banks difficulties in controlling costs despite income growth. The bank predicted a 5% increase in costs in 2024 despite rising inflation, and it anticipated a 6% cost increase in 2023, attributing it to taxes in the United States and Britain. Investor concerns were raised by unanticipated writedowns and missed objectives despite the spike in pretax earnings. Barclays, which sought to lower its costincome ratio by 2026, likewise needed to meet its costsaving objectives. Banks are recommended to reevaluate pay plans and prioritise spending control in light of cost constraints. Amid growing expenses, shareholders closely examine CEO compensation, highlighting the necessity of sustainable methods in the face of economic uncertainty. Read More..

B2B Tech News | 7 hours ago        



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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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