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UN Chief Guterres Slams Africa’s Debt Crisis as ‘Unsustainable’ at ChinaAfrica Summit

During the ChinaAfrica Cooperation Summit in Beijing, UN SecretaryGeneral Antonio Guterres cautioned that societal unrest might result from Africas de

During the ChinaAfrica Cooperation Summit in Beijing, UN SecretaryGeneral Antonio Guterres cautioned that societal unrest might result from Africas debt issue, calling it "unsustainable." He urged for comprehensive changes to the international financial system to provide poor nations the liquidity they need to address problems like climate change. Significant debt, restricted access to debt relief, and inadequate financing for fundamental necessities and sustainable development are among the issues that Guterres brought attention to in several African countries. In order to confront the effects of climate change, he underlined the necessity of solid debt relief and improved resources. China, a significant infrastructure and mining investor, is hosting the conference. African leaders are looking to China to help industrialise their economy and increase agricultural exports. Read More..

B2B Tech News | 11 months ago        

Britain Needs £1 Trillion Investment Over Decade to Boost Economic Growth, Taskforce Reports

As per the Capital Markets Industry Taskforce, a further £1 trillion $1.3 trillion in investment is required in Britain over the next ten years to su

As per the Capital Markets Industry Taskforce, a further £1 trillion $1.3 trillion in investment is required in Britain over the next ten years to support economic development. The UK has struggled to achieve a 2.5% annual growth rate since before the financial crisis of 2008. The yearly cost of £100 billion is primarily due to housing, energy, and venture capital. Nigel Wilson, the former CEO of Legal & General, proposes using the £6 trillion insurance and pensions market in the UK to provide this cash. Additionally, the research suggests tax breaks for individual investors. A different study also revealed that UK pensions should invest twice as much in domestic and unlisted stocks to keep up with international norms. Read More..

B2B Tech News | 11 months ago        

Indias SEBI to Introduce Stricter Derivatives Trading Rules to Curb Speculation

Stricter regulations on derivatives trading are about to be implemented by Indias Securities and Exchange Board SEBI to reduce ordinary investors spec

Stricter regulations on derivatives trading are about to be implemented by Indias Securities and Exchange Board SEBI to reduce ordinary investors speculative activity. The minimum trading amount will be virtually tripled, and options contract expirations will be limited to one per weekly exchange under the new restrictions. Responding to resistance from traders and brokers, SEBI intends to revisit previous recommendations, including raising margin requirements and tracking intraday positions. Concerns over the rapidly increasing number of derivative trades—which hit a recordbreaking ₹10,923 trillion $130.13 trillion in August—are behind the decision. After seeing a sharp increase in the percentage of individual investors in index options—from 2% to 41%—SEBI took action to safeguard small investors and maintain market stability. Later this month, the final rules should be announced. Read More..

B2B Tech News | 11 months ago        

ConnectOne Bancorp Announces $284 Million AllStock Acquisition of First of Long Island

Governor of the Reserve Bank of Australia RBA, Michele Bullock, stressed that the main worry should be sustained inflation and that it is premature to

Governor of the Reserve Bank of Australia RBA, Michele Bullock, stressed that the main worry should be sustained inflation and that it is premature to think about shortterm rate reductions. Bullock said that bringing inflation down to the 23% goal range is still the RBAs top aim in a speech in Sydney. Bullock remained hawkish in July despite the sluggish economic growth and a minor decrease in headline inflation to 3.5%. She emphasised that pressures on domestic inflation, especially in the housing and market services sectors, are still a factor in abovetarget inflation. Since last November, the RBA has maintained interest rates at 4.35% and will react suitably to economic shifts. Markets anticipate a 42% chance of a rate cut by November, but Bullock stressed that high inflation must be addressed to avoid more severe financial impacts. Read More..

B2B Tech News | 11 months ago        

Verizon to Acquire Frontier Communications for $20 Billion, Expanding Fiber Network Coverage

The $20 billion allcash acquisition of Frontier Communications, a supplier of fibreoptic internet, has been announced by Verizon. To better compete wi

The $20 billion allcash acquisition of Frontier Communications, a supplier of fibreoptic internet, has been announced by Verizon. To better compete with AT&T and TMobile, Verizon hopes to grow its user base through this move. In addition to the 37.3% premium over the closing price of the shares before the purchase reports became public, Verizon has offered $38.50 for each Frontier share. Verizon intends to restructure Frontiers $11.25 billion in debt. With the combination of Verizons 7.4 million and Frontiers 2.2 million fibre customers, Verizons fibre network will now include the Midwest, Texas, and California in addition to the Northeast and midAtlantic. The agreement would gradually expand Verizons fibre network coverage from less than 10% to around 13%, still lagging behind AT&Ts 15%, when it closes in about 18 months. Read More..

B2B Tech News | 11 months ago        

Hewlett Packard Enterprise Raises Profit Forecast Amid Surge in AI Server Demand

On Wednesday, Hewlett Packard Enterprise HPE boosted its projection for annual earnings, citing rising company expenditures in AI infrastructure and i

On Wednesday, Hewlett Packard Enterprise HPE boosted its projection for annual earnings, citing rising company expenditures in AI infrastructure and increasing demand for AI servers. Despite this, HPEs shares experienced a loss in revenue from its data analysis and conventional cloud businesses, which caused them to drop by about 3% in afterhours trading. As market expectations for AIrelated firms remain strong, the companys maintenance of its fullyear revenue projection contributed to the sharp decline. With thirdquarter server revenue up 35% to $4.3 billion, HPEs AI server business—particularly those utilising Nvidia processors—continues to thrive. The company revised its $1.85–$1.95 annual adjusted earnings per share outlook to $1.92–$1.97. HPE projects adjusted EPS of 52–57 cents per share for Q4, with revenue of $8.1–$8.4 billion, slightly above market forecasts. Read More..

B2B Tech News | 11 months ago        

Oaktree Capital Sells Banca Progetto to Centerbridge Partners for Over €500 Million

The sale of Italian speciality financing bank Banca Progetto to private equity firm Centerbridge Partners has been agreed upon by investment firm Oakt

The sale of Italian speciality financing bank Banca Progetto to private equity firm Centerbridge Partners has been agreed upon by investment firm Oaktree Capital Management. The banks loan book had increased from €50 million to €7.6 billion since Oaktree initially invested in Banca Progetto in 2015 when it was still known as Banca Popolare Lucchese. Stateguaranteed loans have helped Banca Progetto, which specialises in financing small and midsized Italian enterprises. The banks net profit for the previous year was €72 million, significantly above the norm for Italian banks, with a 28% return on equity. The sale, valued at over €500 million, was advised by Morgan Stanley for Oaktree, Kitra Advisory, and JPMorgan for Centerbridge. Centerbridge, managing $38 billion, previously invested in the Italian financial sector with a stake in BFF. Read More..

B2B Tech News | 11 months ago        

India and Singapore Forge New Alliances Semiconductors, Digital Tech, Skills, and Healthcare MOUs Signed

India and Singapore inked several Memorandums of Understanding MOUs to strengthen cooperation in critical areas during the visit of Indian Prime Minis

India and Singapore inked several Memorandums of Understanding MOUs to strengthen cooperation in critical areas during the visit of Indian Prime Minister Narendra Modi. The agreements emphasise collaboration in digital technology, healthcare, talent development, and semiconductors. These MOUs seek to deepen relations between the two countries by using their respective advantages and tackling shared issues. The digital technology agreement is anticipated to promote innovation and technological developments, while the semiconductor deal will likely entail cooperative research and development activities. Improving worker capacities and health systems is the goal of the accords on skill development and healthcare. These MOUs, representing a shared vision for growth and development, are a testament to both nations commitment to strengthening their collaboration and advancing these critical industries. Read More..

B2B Tech News | 11 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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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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