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South African Rand Weakens Slightly, Still Up 1.3% for the Week Amid Rate Cuts

After a week of significant increases, the South African rand dropped on Friday, closing at 17.53 versus the dollar, or around 0.3% less than it had a

After a week of significant increases, the South African rand dropped on Friday, closing at 17.53 versus the dollar, or around 0.3% less than it had at the previous close. Despite the decline, the South African Reserve Bank and the U.S. Federal Reserve lowered interest rates this week, which helped the rand gain 1.3% versus the dollar. Local inflation also dropped to 4.4%, the lowest since April 2021. Due to profittaking, currency expert Andre Cilliers stated that the rand may stay around the R17.40/R17.70 area shortly. Analysts anticipate more rate reductions from the SARB, but if combined with fundamental economic improvements, they shouldnt have a detrimental effect on the rand. In the meantime, the Top40 index of the Johannesburg Stock Exchange ended the day mostly unaltered. Read More..

B2B Tech News | 10 months ago        

Qualcomm Explores Potential Acquisition of Struggling Intel Amid Industry Turbulence

Given Intels continuous difficulties, reports claim Qualcomm has contacted Intel to discuss a possible takeover. To explore many possibilities, includ

Given Intels continuous difficulties, reports claim Qualcomm has contacted Intel to discuss a possible takeover. To explore many possibilities, including Intels PC design business, Qualcomm CEO Cristiano Amon is actively participating in these first conversations. There is currently no official offer in place. With the announcement, Qualcomms stock dropped 2.9% while Intels increased 3.3%. The United States, China, and European regulators may scrutinise a prospective merger closely for antitrust violations, and Qualcomm may be forced to sell off portions of Intel. With Qualcomms cash reserves of around $13 billion and Intels valuation of $122 billion, financing such a deal would be complex. Intel is shifting its focus to contract manufacturing and AI to regain its competitive advantage. Read More..

B2B Tech News | 10 months ago        

RBA Reforms Hit Another Roadblock as Greens Demand Interest Rate Cuts

Another blow to longdelayed Reserve Bank of Australia RBA changes came when Greens members insisted on lower interest rates in exchange for backing th

Another blow to longdelayed Reserve Bank of Australia RBA changes came when Greens members insisted on lower interest rates in exchange for backing the bill. The Greens urged the RBA to drop rates during its next decision, stating they would only pass Labors RBA changes once they were. Due to the ongoing inflation, officials have indicated that a rate decrease this year is unlikely, and the RBA has kept rates at 4.35% since November. The opposition has criticised the planned reforms, citing concerns about possible political influence, especially creating a distinct governing board. After calling the Greens proposals "economically irresponsible," Finance Minister Katy Gallagher shelved the reform legislation and maintained the status quo policymaking framework. Read More..

B2B Tech News | 10 months ago        

Chinas Central Bank Conducts First 14Day Cash Supply in Months Amid Liquidity Concerns

Through open market operations, the Peoples Bank of China PBOC, the countrys central bank, has added 234.6 billion yuan $33.29 billion to the banking

Through open market operations, the Peoples Bank of China PBOC, the countrys central bank, has added 234.6 billion yuan $33.29 billion to the banking system, the first 14day cash supply in months. This action comes with a lower interest rate of 1.85%, down from 1.95%, and is intended to preserve sufficient liquidity before the October 1 National Day festivities. The PBOC typically uses 14day repos over extended vacation periods, so analysts see this funding operation as a regular step rather than a significant policy easing. Amidst persistent deflationary pressures and difficulties in promoting development, the banks policies have sparked speculation of more monetary easing in the upcoming months. On Tuesday, senior banking regulators will have an uncommon joint press conference. Read More..

B2B Tech News | 10 months ago        

DCM Ventures to Offload Remaining Stake in Kuaishou, Targeting Up to $479 Million

To generate as much as $479 million, DCM Ventures intends to sell all of its remaining shares in Kuaishou Technology, a Chinese platform for short vid

To generate as much as $479 million, DCM Ventures intends to sell all of its remaining shares in Kuaishou Technology, a Chinese platform for short videos. Offering between HK$40.28 and HK$41.13 a share, the venture capital firm sells 91.66 million or 2.1% of Kuaishous outstanding shares. The deal, scheduled to close on Friday and settle by Tuesday, is being bookended exclusively by Morgan Stanley. Even though it was an early investor, DCM has been cutting back on its holdings in Kuaishou since its share pricepped 20% this year. On Thursday, however, the cost of the shares increased 4.9% to HK$42.1. Read More..

B2B Tech News | 10 months ago        

Japan to Implement LongTerm Monitoring System for Fukushima Water Discharge, Says China

The release of hazardous water from the Fukushima nuclear facility was the subject of an agreement between China and Japan in August, the Chinese fore

The release of hazardous water from the Fukushima nuclear facility was the subject of an agreement between China and Japan in August, the Chinese foreign ministry reported. Japan established an international monitoring system for an extended period, and the two countries agreed to allow stakeholders to carry out independent sampling and monitoring. Before "gradually" getting back into the import of Japanese aquatic products, China stressed the value of independent sampling. The Fukushima catastrophe has raised persistent worries about food product safety, which is highlighted by this development. Read More..

B2B Tech News | 10 months ago        

IndoStar Capitals Stock Jumps 14% After EQT Deal to Acquire Home Finance Division

Following the news of a $209 million agreement to sell its home lending division to private equity company EQT, shares of IndoStar Capital lending jum

Following the news of a $209 million agreement to sell its home lending division to private equity company EQT, shares of IndoStar Capital lending jumped to a threeyear high on Friday. Thanks to this purchase, IndoStar can now focus on its primary operations small business loans and auto financing. After the agreement is finalised, EQT intends to provide 5 billion rupees, or $59.84 million, to IndoStar Home Finance. Lenders are hopeful about government backing to break into this underserved sector, even if the demand for inexpensive homes in India trails behind that of the luxury category. Before levelling off with a 4.8% gain, IndoStar shares surged 14% to hit their highest level since August 2021. Read More..

B2B Tech News | 10 months ago        

Tokyo Metro Set for Historic IPO Aiming to Raise $2.25 Billion on October 23

With an eye towards Japans most extensive initial public offering IPO in the last six years, Tokyo Metro announced plans to list on the Tokyo Stock Ex

With an eye towards Japans most extensive initial public offering IPO in the last six years, Tokyo Metro announced plans to list on the Tokyo Stock Exchange on October 23. The firm hopes to raise a total of 319.55 billion yen $2.25 billion through the offering of shares at an estimated price of 1,100 yen apiece. The first underground line in Japan was created by Tokyo Metro in 1920, marking the beginning of its history. Besides that, Carlyle Groupbacked Rigaku, a manufacturer of Xray diagnostic equipment, intends to list on October 25 to raise $888 million and reach a $2 billion market valuation after the offering. Read More..

B2B Tech News | 10 months 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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5.  Approximately 8 billion gadgets connect on the internet every day.
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