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Indonesian Banks to Reveal Detailed Lending Rates Under New OJK Regulation

Under a new Financial Services Authority regulation, Indonesian banks must start disclosing a comprehensive breakdown of their lending rates, includin

Under a new Financial Services Authority regulation, Indonesian banks must start disclosing a comprehensive breakdown of their lending rates, including margins, in October OJK. This rule seeks to safeguard fair borrowing rates and boost industry competitiveness by encouraging efficiency and openness in interest rate setting. President Joko Widodo criticised excessive bank profits, arguing they impeded loan growth. The OJK took action in response. At 4.57%, Indonesian banks now have Southeast Asias most significant net interest margin. Banks are subject to fines of up to 15 billion rupiah $970,000 for failing to provide clients with uptodate rate information and disclose risk premiums to the OJK monthly under the new legislation. Read More..

B2B Tech News | 11 months ago        

Meta Platforms Secures Geothermal Power Deal to Boost U.S. Data Centers for AI Expansion

Meta Platforms has agreed with Sage Geosystems to buy geothermal electricity for its U.S. data centres to support its growing artificial intelligence

Meta Platforms has agreed with Sage Geosystems to buy geothermal electricity for its U.S. data centres to support its growing artificial intelligence infrastructure. The 150megawatt project, expected to start in 2027, will significantly increase the United States geothermal energy usage. It will be east of the Rocky Mountains, while the exact site is still in the air. The Biden administrations push for investments in clean energy in light of the growing need for power due to artificial intelligence technology aligns with this agenda. With support from Chesapeake Energy and Nabors Industries, the geothermal project will be Sages most extensive to date. With AI workloads requiring significant data centre improvements, Meta is expected to incur additional capital expenditures of $37–40 billion by 2024. Read More..

B2B Tech News | 11 months ago        

Didi Global Negotiates $70 Million Sale of Smart Driving Assets to AutoAi

In an agreement worth around 500 million yuan $70 million, Chinas Didi Global is negotiating to sell its intelligent driving and cockpit assets to Aut

In an agreement worth around 500 million yuan $70 million, Chinas Didi Global is negotiating to sell its intelligent driving and cockpit assets to AutoAi, a division of statebacked digital mapping company NavInfo. After a problematic regulatory phase, Didi intends to return its attention to its core ridehailing business. As a result of the deal, Didi will become a significant stakeholder in AutoAi after contributing more than 200 million yuan to the business. This action follows Didis prior $744 million sale to Xpeng of its EV development division. The arrangement, anticipated to be disclosed soon, might affect 200–300 workers while strengthening Didis alliance with AutoAi and NavInfo. Read More..

B2B Tech News | 11 months ago        

Philippine Tank Storage International Mulls Strategic Investor for $500 Million Petroleum Facility

The owners of Philippine Tank Storage International are considering the potential of attracting a strategic investor for their $500 million or more bi

The owners of Philippine Tank Storage International are considering the potential of attracting a strategic investor for their $500 million or more big petroleum storage facility located in the Philippines. Metro Pacific Investments Corp. of the Philippines and Keppel Infrastructure Trust of Singapore are both exploring the transaction. In 2020, they bought a Philippine tank together for $334 million, and it runs the Philippine Coastal Storage & Pipeline Corp. At the moment, Keppel Infrastructure Trust has a slightly higher voting share than the other entity, although both have equal stakes. Talking with possible investors is still underway to grow the company and realise the assets worth. With a 40% improvement in EBITDA since the acquisition, the facility—which is situated on former U.S. military bases—can hold six million barrels of petroleum. Read More..

B2B Tech News | 11 months ago        

PDD Holdings Shares Plunge 28% After Revenue Misses Estimates, Market Cap Drops $40 Billion

PDD Holdings, a Chinese company that runs Temu and Pinduoduo, underperformed market sales projections in the second quarter, which caused a 28% declin

PDD Holdings, a Chinese company that runs Temu and Pinduoduo, underperformed market sales projections in the second quarter, which caused a 28% decline in its U.S. shares, the worst oneday decline since its 2018 IPO. This drop, which erased over $40 billion in market capitalisation, was caused by CEOs gloomy remarks on growing local ecommerce rivalry and unpredictabilities abroad. CoCEO Chen Lei signalled a move to highquality development that will impact profitability by citing issues including shifting customer demand and rising competition. PDDs Q2 revenue of 97.06 billion yuan $13.64 billion fell short of the 100 billion yuan target due to a tripling of general and administrative expenditures and increased operating expenses. Read More..

B2B Tech News | 11 months ago        

Final Bids for Deutsche Bahns Schenker Reach €14 Billion, CVC Consortium Offers Potential €16 Billion

Final offers valued at around €14 billion $15.6 billion each were submitted to Deutsche Bahns logistics division Schenker by a consortium headed by

Final offers valued at around €14 billion $15.6 billion each were submitted to Deutsche Bahns logistics division Schenker by a consortium headed by CVC Capital Partners and Danish transport company DSV. To list Schenker on the Frankfurt Stock Exchange and keep its German headquarters and trademark, the CVC consortium has presented an option that may increase its bid to €16 billion. Deutsche Bahn plans to sell Schenker to pay off its over €30 billion in debt and concentrate on improving rail service. It is anticipated that in the upcoming weeks, the bids will be decided upon definitively, perhaps resulting in one of the most significant transactions in European history. Read More..

B2B Tech News | 11 months ago        

Thailand Greenlights Western Digitals $693 Million Expansion, Set to Boost Economy and Job Market

As the cloud computing and data centre market continues to develop, Thailand has authorised Western Digitals $693 million plan to increase hard disc m

As the cloud computing and data centre market continues to develop, Thailand has authorised Western Digitals $693 million plan to increase hard disc manufacture. By increasing exports valued at 200 billion baht yearly and generating 10,000 employment, this investment is predicted to strengthen the Thai economy significantly. Twentyeight thousand people work at Western Digitals Thailand plant, which supplies 80 per cent of the hard discs produced worldwide. Eighteen billion baht have been invested in the hard disc business in Thailand during the last ten years, and with an expenditure of 16 billion baht, rival producer Seagate expanded last year. Thailands overall goal for investment applications is 800 billion baht by 2024. Read More..

B2B Tech News | 11 months ago        

ECB May Implement Two More Rate Cuts This Year, Says Policymaker Martins Kazaks

Martins Kazaks, a policymaker at the European Central Bank ECB, said that if inflation keeps falling as predicted, the ECB may be able to reduce inter

Martins Kazaks, a policymaker at the European Central Bank ECB, said that if inflation keeps falling as predicted, the ECB may be able to reduce interest rates by up to two per year. On the back of weak economic growth and weakening wage pressures, investors are bracing for another rate drop on September 12th, after one in June. At the Jackson Hole Economic Symposium, Kazaks pointed out that inflation aligns with ECB predictions, bolstering the case for gradual easing. The general trend, he said, is in line with the ECBs forecasts, even though specific inflation statistics may differ. Kazaks said the 2% inflation objective should be reached at least necessary. Read More..

B2B Tech News | 11 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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