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South Koreas Inflation Eases to 2.0% in August, Aligning with Central Banks Target

In August, consumer inflation in South Korea decreased to 2.0%, which was in line with the central banks 2% objective and was the lowest annual growth

In August, consumer inflation in South Korea decreased to 2.0%, which was in line with the central banks 2% objective and was the lowest annual growth in over 3.5 years. Given that GDP concerns are overshadowing inflation, this slowdown from Julys 2.6% reinforces market predictions for a potential rate decrease by the Bank of Korea as early as October. Vice Finance Minister Kim Beomseok stated that inflation is predicted to stabilise at the lower 2% level, barring unanticipated surprises. The core CPI, which does not include food and energy, grew by 2.1% yearly, signalling a decline from the previous month. The monthly CPI jumped by 0.4%, the most significant gain in six months. After the report, Treasury bond rates marginally dropped. Read More..

B2B Tech News | 11 months ago        

Russias Trade with India Hits $65 Billion in 2023 Amid Surge in Oil Exports

The deputy CEO of Sberbank, Anatoly Popov, claims that bilateral transfers between Russia and India are easy and flourishing. Due largely to increasin

The deputy CEO of Sberbank, Anatoly Popov, claims that bilateral transfers between Russia and India are easy and flourishing. Due largely to increasing oil shipments after Western sanctions, Russias commerce with India reached a record $65 billion in 2023. Unlike other partners, Sberbank, which handles up to 70% of Russian exports to India, has not reported any problems with rupee transactions. With a 150% increase in employees at its offices in Delhi, Mumbai, and Bangalore, the bank has increased its footprint in India. While the rupee excess issue has been rectified, Popov pointed out that India has to increase its exports to Russia tenfold. Without using foreign currency, the existing system enables effective roublerupee exchanges. Read More..

B2B Tech News | 11 months ago        

Brazils Finance Ministry to Propose New Tax Measures to Address Revenue Shortfalls

To reach the budgetary objective for 2025 and solve any potential income shortfalls, Brazils Finance Ministry intends to submit additional tax measure

To reach the budgetary objective for 2025 and solve any potential income shortfalls, Brazils Finance Ministry intends to submit additional tax measures to Congress this year. As suggested by Brazils status as G20 chair in global tax negotiations, the suggestions include taxing big tech businesses and imposing a minimum global tax of 15% on multinationals. With 17.9 billion reais in additional income tax receipts, the 2025 budget draft estimates a primary surplus of 3.7 billion reais. Moreover, the administration hopes to generate an additional 58.5 billion real through tax talks and dispute settlement initiatives. A primary deficit of around 0.76% of GDP is anticipated for 2025, compared to the zero deficit aim, but analysts are still determining. Read More..

B2B Tech News | 11 months ago        

Investors Pivot to Swiss Franc for Carry Trades as Yen Loses Appeal, Raising Risk of Sudden Rally

The possibility of an abrupt franc gain is still significant as speculators move their money for carry bets from the Japanese yen to the Swiss franc.

The possibility of an abrupt franc gain is still significant as speculators move their money for carry bets from the Japanese yen to the Swiss franc. As the yens attraction wanes, particularly in light of its substantial increase in August, the Swiss francs low interest rate of 1.25% has emerged as a desirable financing currency. Although the franc is a preferred choice due to its stability and safehaven reputation, there are hazards associated with its unpredictable character. Investors can suffer significant losses if the franc suddenly rallies in response to unsettling global markets or poor U.S. economic data. This technique is further complicated by the actions taken by the Swiss National Bank to stop undue appreciation. Read More..

B2B Tech News | 11 months ago        

BlackstoneCPPIB Consortium Nears A$20 Billion Acquisition of Australian Data Center Giant AirTrunk

An agreement to purchase Australian data centre operator AirTrunk for A$20 billion $13.53 billion, including debt, is almost finalised by a group led

An agreement to purchase Australian data centre operator AirTrunk for A$20 billion $13.53 billion, including debt, is almost finalised by a group led by Blackstone and the Canada Pension Plan Investment Board CPPIB. After beating out a competing consortium in bidding, Blackstone and CPPIB were declared the preferred buyers. The agreement, which calls for buying AirTrunk from its present owners, the Public Sector Pension Investment Board PSP of Canada and Macquarie Group, may be made public soon. Macquarie and PSP have refrained from commenting on the deal, as have Blackstone and CPPIB. The acquisition shows Australias rising interest in data centre architecture. Read More..

B2B Tech News | 11 months ago        

Indonesias Inflation Rate Holds Steady at 2.12% in August, Aligns with Bank Indonesias Target

After barely changing from Julys 2.13% to 2.12% in August, Indonesias annual inflation rate was comfortably within Bank Indonesias target range of 1.5

After barely changing from Julys 2.13% to 2.12% in August, Indonesias annual inflation rate was comfortably within Bank Indonesias target range of 1.5% to 3.5% this year. Based on market expectations, this rate is the lowest since February 2022. Beyond the prediction of 1.98%, core inflation increased somewhat to 2.02% in July from 1.95%. To keep the rupiah stable and control volatility in the global market, Bank Indonesia has kept interest rates comparatively high even if inflation has been steady. There may be space for monetary easing in the upcoming quarter to promote economic development, according to Governor Perry Warjiyo, even if maintaining currency stability is still a top priority. Read More..

B2B Tech News | 11 months ago        

ByteDance Secures $9.5 Billion Loan, Set to Be Asia’s Largest DollarDenominated Facility

A $9.5 billion loan, the largest corporate facility in Asia outside of Japan denominated in dollars, is being secured by TikToks owner, ByteDance. Wit

A $9.5 billion loan, the largest corporate facility in Asia outside of Japan denominated in dollars, is being secured by TikToks owner, ByteDance. With three years that may be extended to five, Citigroup, Goldman Sachs, and JPMorgan are arranging the loan. Refinancing a $5 billion dualtranche facility will be partially done with the funds. To support ByteDances financial plan, the banks work on a complex agreement, and the talks are private. Read More..

B2B Tech News | 11 months ago        

ChinaAfrica Trade Surges 5.5% to $166.6 Billion in First Seven Months of 2024

In the first seven months of 2024, commerce between China and Africa increased by 5.5% annually to 1.19 trillion yuan, or almost $166.6 billion. With

In the first seven months of 2024, commerce between China and Africa increased by 5.5% annually to 1.19 trillion yuan, or almost $166.6 billion. With 1.5% growth over the previous year, commerce between China and Africa reached a new high of $282.1 billion in 2023. Chinas exports of new energy cars, lithium batteries, and photovoltaic items to Africa increased dramatically, while Chinas purchases of African fruits, vegetables, nuts, and flowers increased noticeably. For the past 15 years running, China has been Africas biggest trade partner. 990.55 points was the record obtained by the freshly created ChinaAfrica Trade Index in 2022, with a benchmark set at 100 points in 2000. Expected to strengthen commercial and economic relations further is the 2024 Forum on ChinaAfrica Cooperation Summit, scheduled for September 46 in Beijing. Read More..

B2B Tech News | 11 months ago        



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