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DBS Group to Boost Ownership in China Securities Venture to 91% Amid Economic Stimulus

CEO of DBS Group, Piyush Gupta, revealed intentions to raise the companys shareholding in its joint venture in China securities from 51% to 91%. This

CEO of DBS Group, Piyush Gupta, revealed intentions to raise the companys shareholding in its joint venture in China securities from 51% to 91%. This declaration comes after Chinas solid economic stimulus plans to boost the countrys faltering capital markets and economy. DBS confirmed that it will buy shares from Chinese joint venture partners if regulations are approved. Although majority ownership is the banks goal, Gupta stated that the firm cherishes the contribution of its Chinese partners. This action fits in with the patterns of international banks such as J.P. Morgan and Morgan Stanley, who respond similarly to a slowing economy by raising their investments in Chinese securities businesses. Beijings recent stimulus measures, including a largescale swap program, have improved market confidence and increased the chances of securities companies. Read More..

B2B Tech News | 10 months ago        

Microsoft Unveils $1.3 Billion Investment to Boost AI and Cloud Infrastructure in Mexico

To improve its cloud computing and artificial intelligence infrastructure in Mexico, tech giant Microsoft has announced a significant investment of $1

To improve its cloud computing and artificial intelligence infrastructure in Mexico, tech giant Microsoft has announced a significant investment of $1.3 billion over the next three years. During an event in Mexico City, CEO and Chairman Satya Nadella stressed the companys dedication to growing capacity there. In three years, this project hopes to reach 30,000 SMBs and 5 million Mexicans by enhancing connectivity and encouraging the use of AI in small and mediumsized enterprises. Prominent Mexican businesses already using Microsofts AI solutions include Bimbo and Cemex. Furthermore, by the end of 2025, Microsoft and Viasat will have connected over 150,000 Mexicans without cellular service to the internet. Remarkably, the countrys AI capabilities will be strengthened by this initiative, which newly appointed Economy Minister Marcelo Ebrard announced. Read More..

B2B Tech News | 10 months ago        

Finance Minister Pushes for Interest Rate Cut as Thailand Considers Economic Recovery Measures

Next week, the Thai government and central bank will discuss the countrys inflation target and the strong baht. Finance Minister Pichai Chunhavajira w

Next week, the Thai government and central bank will discuss the countrys inflation target and the strong baht. Finance Minister Pichai Chunhavajira will emphasise the necessity of an interest rate drop. This assessment comes in the wake of ongoing government pressure on the Bank of Thailand to reduce interest rates from a peak of 2.50% set a decade ago to spur economic recovery in the wake of the epidemic. Augusts inflation rate was a mere 0.35%. To stimulate consumer spending, the government is also considering raising the minimum wage to 400 baht $12 by years end. A Thai business association has also called for steps to stabilise the baht, which has gained 13% since April compared to the US dollar, perhaps hurting exports and travel. Read More..

B2B Tech News | 10 months ago        

Nippon Steel Plans Share Sale in Posco Holdings Amid $14.9 Billion U.S. Steel Acquisition Strategy

As part of its effort to increase asset efficiency, Nippon Steel, based in Japan, announced that it will sell 2.9 million shares in Posco Holdings, a

As part of its effort to increase asset efficiency, Nippon Steel, based in Japan, announced that it will sell 2.9 million shares in Posco Holdings, a company based in South Korea. We will reveal later on the timing of this sale and how it is anticipated to affect the financial performance. This action aligns with Nippon Steels overarching goal of managing debt in advance of its ambitious $14.9 billion acquisition of U.S. Steel by dumping at least $211 million in assets during this fiscal year. Nippon Steel, the biggest steel manufacturer in Japan, wants to improve its financial standing while taking advantage of significant investment prospects. Read More..

B2B Tech News | 10 months ago        

JPMorgan Sees Growth Potential in India and Japan, Eyes Southeast Asia Amid China Plus One Strategy

As a result of the "China Plus One" policy, JPMorgan is bullish about investment prospects in Japan and India. The company is also keeping an eye on S

As a result of the "China Plus One" policy, JPMorgan is bullish about investment prospects in Japan and India. The company is also keeping an eye on Southeast Asia. JPMorgans CEO for Asia Pacific, Sjoerd Leenart, emphasised Indias development potential and said the bank is improving its operations by investing in technology and hiring more bankers. He sees a 30% increase in JPMorgans commercial banking division, focusing on midsized Indian businesses. However, for India to fully benefit from the "China Plus One" approach, he underlined the necessity of fortifying its industrial environment. With favourable lending rates, corporate activity is rising in Japan and creating new opportunities. Leenart also talked about the banks growing footprint in China and its intentions to participate in Southeast Asias $3 trillion economy despite its fragmentation. Read More..

B2B Tech News | 10 months ago        

BNP Paribas Boosts Assets to Over €40 Billion with HSBC Private Banking Acquisition

BNP Paribas has announced that it has acquired the German private banking division of HSBC to grow into the wealth management space. BNP Paribass asse

BNP Paribas has announced that it has acquired the German private banking division of HSBC to grow into the wealth management space. BNP Paribass assets under management would reach over €40 billion $44.64 billion following the purchase, which is anticipated to be completed in the second quarter of 2025. BNP CEO Vincent Lecomte said the purchase would strengthen the banks standing as a significant participant in private banking throughout the eurozone. The action above is consistent with HSBCs recent emphasis on Asia and its endeavours to optimise its operations by disengaging from many Western markets, such as the United States, France, and Canada, to concentrate on its fundamental competencies. Read More..

B2B Tech News | 10 months ago        

Vietnam and U.S. Firms Forge Strategic Partnerships in Energy, AI, and Data Centers

As the Vietnamese government revealed, multiple Memorandums of Understanding MoUs have been inked by American and Vietnamese companies to work togethe

As the Vietnamese government revealed, multiple Memorandums of Understanding MoUs have been inked by American and Vietnamese companies to work together on energy, AI, and data centre development. The agreements were finalised during a business forum in the United States. They include a partnership on AI and data centres between Sovico Group and Supermicro, an LNG cooperation between PetroVietnams PTSC and Excelerate Energy, and an energy technology transfer agreement between PetroVietnam and Kellogg Brown & Root. Vietjet has further signed a $1.1 billion deal with Honeywell Aerospace Technologies to ensure avionics and technical services for its fleet. At the meeting, Vietnamese President To Lam asked to be recognised as a market economy and pledged to encourage US investment in his country. Read More..

B2B Tech News | 10 months ago        

Samsung Display to Invest $1.8 Billion in New OLED Factory in Vietnam

South Korean electronics company Samsung Display Co. intends to spend $1.8 billion on a new facility in northern Vietnam to make OLED screens for vehi

South Korean electronics company Samsung Display Co. intends to spend $1.8 billion on a new facility in northern Vietnam to make OLED screens for vehicles and other devices. The building will be next to a Samsung electronics plant in the Bac Ninh provinces Yen Phong industrial zone. Samsung Vietnams General Director Choi Joo Ho and Prime Minister Pham Minh Chinh met and decided to make this investment, bringing Samsungs total investment in Bac Ninh to $8.3 billion from its present $6.5 billion. Vietnam has emerged as a significant electronics production hub in the last ten years, thanks to $22.4 billion in investments from Samsung, which has six manufacturing facilities and a research and development facility there. Read More..

B2B Tech News | 10 months 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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