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Pakistans Caretaker Government Targets 10 State Entities for Revival

As part of its commitment to reforms under the International Monetary Fund IMF bailout, Pakistans caretaker government has designated ten enterprises

As part of its commitment to reforms under the International Monetary Fund IMF bailout, Pakistans caretaker government has designated ten enterprises for privatisation or turnaround attempts. It is taking steps to enhance governance in stateowned businesses. These stateowned enterprises SOEs have been suffering severe losses, which by 2020 would total about 500 billion rupees $1.74 billion. The government intends to install independent directors for SOEs through a nomination procedure to prevent ministries from giving them orders for better governance. The privatisation minister did, however, remark that only one bidder remains for Pakistan Steel Mills, citing factors like the need for steel worldwide. Pakistan is likewise looking towards outsourcing stateowned asset operations. Read More..

B2B Tech News | 2 days ago        

US Unemployment Claims Hit 8Month Low Amid Tight Labor Market

Despite sluggish job growth, the number of Americans filing new jobless claims hit an eightmonth low, indicating a strong labour market. The early Sep

Despite sluggish job growth, the number of Americans filing new jobless claims hit an eightmonth low, indicating a strong labour market. The early September jobless registers were the lowest since January, according to the Labour Departments data. This outcome came after the Federal Reserve decided to keep interest rates unchanged while taking a more hawkish attitude, indicating that rates would rise soon and that monetary policy would tighten through 2024. The economy is resilient even if there are worries about a future economic recession. However, the housing market is in trouble because of high mortgage rates and a lack of available homes, which affects current house sales and pricing. Likewise, manufacturing confronts difficulties. Read More..

B2B Tech News | 2 days ago        

Japanese Consortium Led by JIP Secures Majority Stake in Toshiba

A consortium led by Japan Industrial Partners JIP, a private equity firm, has acquired 78.65% of Toshiba through a tender offer, inching closer to the

A consortium led by Japan Industrial Partners JIP, a private equity firm, has acquired 78.65% of Toshiba through a tender offer, inching closer to the completion of a $14 billion deal to privatize the company. With this majority ownership, JIP can push out remaining shareholders, paving the way for Toshibas delisting, expected as early as December, marking the end of its 74year history as a publicly traded firm. The deal signifies a shift of Toshiba into domestic hands, following years of clashes with overseas activist shareholders. JIPs consortium includes around 20 Japanese firms, such as Orix and Rohm. Read More..

B2B Tech News | 2 days ago        

Cisco Dives into Cybersecurity with $28B Splunk Acquisition

With its $28 billion agreement to buy cybersecurity company Splunk, Cisco Systems has undertaken its largestever acquisition. The transaction intends

With its $28 billion agreement to buy cybersecurity company Splunk, Cisco Systems has undertaken its largestever acquisition. The transaction intends to strengthen Ciscos software division and take advantage of the development of artificial intelligence. The wellknown manufacturer of networking hardware, Cisco, aims to lessen its dependency on hardware. Splunk is an expert in data observability and helps businesses look for cybersecurity risks to their systems. Cisco anticipates that the purchase will hasten revenue growth and gross margin expansion. The merger, subject to regulatory clearance, despite concerns about antitrust scrutiny due to the overlap in the security industry, received unanimous authorisation from both boards and is expected to be completed by the end of Q3 2024. Read More..

B2B Tech News | 2 days ago        

End of an Era Resson Aerospace Corporation dissolves

On Thursday, Mahindra & Mahindra announced that its affiliated company, Resson Aerospace Corporation, based in Canada, has undergone dissolution. The

On Thursday, Mahindra & Mahindra announced that its affiliated company, Resson Aerospace Corporation, based in Canada, has undergone dissolution. The Mumbaiheadquartered automaker had an 11.18% ownership stake in the company, which had initiated voluntary windingup proceedings. According to Mahindra & Mahindras regulatory filing, Resson has been issued a Certificate of Dissolution by Corporations Canada, dated September 20, 2023, and this information has been conveyed to Mahindra & Mahindra. In 2018, Mahindra & Mahindra entered into an agreement with Resson Aerospace Corporation to purchase a maximum of 10% of the Canadian IT companys share capital for a total cash payment of up to 6.63 million. Read More..

B2B Tech News | 3 days ago        

UKs Petrol and Diesel Car Sales Ban Delayed by 5 Years Whats at Stake?

UK Prime Minister Rishi Sunak has extended the ban on petrol and diesel car sales from 2030 to 2035, citing the need to ease financial burdens on work

UK Prime Minister Rishi Sunak has extended the ban on petrol and diesel car sales from 2030 to 2035, citing the need to ease financial burdens on working individuals and promote ecoconscious leadership. However, the UK automotive sector has concerns that this delay could hinder the transition to electric cars. Its important to note that this ban applies only to the sale of new petrol and diesel vehicles, with limited immediate impact on most people, as many opt for used cars. Read More..

B2B Tech News | 3 days ago        

DealShare to Close B2B Division 130 Employees to be laid off

Tiger Globalbacked ecommerce platform DealShare is winding down its underperforming businesstobusiness B2B unit in the next few months. This decision

Tiger Globalbacked ecommerce platform DealShare is winding down its underperforming businesstobusiness B2B unit in the next few months. This decision has led to a series of layoffs, following earlier reports of the company consolidating operations, including moving its headquarters from Bengaluru to Delhi NCR. This move is expected to result in additional job cuts. DealShare had already reduced its workforce by 100 employees during a January business rationalization. In a recent companywide meeting, DealShare announced it would lay off 120130 employees, equivalent to just over 10 percent of its workforce, which previously consisted of 1,100 employees. Read More..

B2B Tech News | 3 days ago        

Toshiba after a 74year presence poised to exit the stock market

After 74 years on the stock market, iconic Japanese company Toshiba is going private. A consortium led by Japan Industrial Partners JIP now holds a co

After 74 years on the stock market, iconic Japanese company Toshiba is going private. A consortium led by Japan Industrial Partners JIP now holds a controlling 78.65% stake, surpassing the twothirds threshold needed for a $14 billion buyout. Toshiba, founded in 1875 as a telegraph equipment manufacturer, is set to cease public trading by yearend. CEO Taro Shimada views this change as a significant move toward a new future. The company, renowned for its diverse divisions, from consumer electronics to nuclear power, once symbolized Japans postWorld War II recovery and technological innovation, even pioneering one of the first widely available laptops in 1985. Read More..

B2B Tech News | 3 days 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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