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Canada’s Champagne and U.S. Treasury’s Bessent Discuss Trade at G7 Conference

In Banff, Alberta, during the G7 finance leaders conference, U.S. Treasury Secretary Scott Bessent met with Canadas Finance Minister FrançoisPhilippe

In Banff, Alberta, during the G7 finance leaders conference, U.S. Treasury Secretary Scott Bessent met with Canadas Finance Minister FrançoisPhilippe Champagne, who emphasised the two countries close trade ties. Champagne pointed out that the United States biggest consumer is Canada, which buys more than China, Japan, the United Kingdom, and France put together. The summit coincides with conversations about privatesectorled growth, nonmarket economic practices, and trade imbalances. The bilateral negotiations come after two recent meetings between Prime Minister Mark Carney and President Donald Trump, which indicated an attempt to deepen business ties. The G7 should work together to address global trade issues, such as Chinas nonmarket behaviours and Ukraines reconstruction, Champagne added. Read More..

B2B Tech News | 1 months ago        

Trump’s One Big Beautiful Bill Act Advances With 5% Remittance Tax Proposal

Under President Donald Trumps One Big Beautiful Bill Act, foreign remittances sent by nonU.S. nationals, including those with green cards and H1B visa

Under President Donald Trumps One Big Beautiful Bill Act, foreign remittances sent by nonU.S. nationals, including those with green cards and H1B visas, would be subject to a 5% tax. With $32 billion in remittances from the United States to India in 2023–2024, this tax, if applied at the point of transfer with no exemption level, could have a $1.6 billion financial impact on millions of Indian citizens in the United States. Along with financing for immigration enforcement, border security, and asylum fees, the law also supports Trumps larger policy goals. There are worries about the economic ramifications for U.S. allies as it has progressed in the House Budget Committee and is getting closer to a floor vote. Read More..

B2B Tech News | 1 months ago        

South Africa’s Budget Deficit Expands as VAT Increase Plan Is Scrapped

After abandoning a proposed valueadded tax VAT hike, South Africas National Treasury has forecast a larger budget deficit and increased public debt. P

After abandoning a proposed valueadded tax VAT hike, South Africas National Treasury has forecast a larger budget deficit and increased public debt. Political resistance and legal challenges led to the decision, which caused a revenue deficit of 61.9 billion rand $3.5 billion, requiring the government to update its mediumterm tax revenue predictions. While total debt is predicted to stabilise at 77.4% of GDP, the budget deficit is now anticipated to increase to 4.8% of GDP from 4.6%. The economy is expected to increase 1.4% in 2025, which is less than the 1.9% growth that was originally predicted. To close the budget deficit, the government is thinking about reducing spending and finding other ways to raise money. Read More..

B2B Tech News | 1 months ago        

IndiaEU Trade Talks Accelerate With Early Harvest Pact Targeted for July 2025

With an eye towards completion by July 2025, India and the EU are speeding up talks for an early harvest trade agreement. As a prelude to a fullfledge

With an eye towards completion by July 2025, India and the EU are speeding up talks for an early harvest trade agreement. As a prelude to a fullfledged free trade agreement FTA, the deal will cover tariffs, corporate procurement, intellectual property rights IPRs, and nontariff barriers. India wants to open markets for its steel, pharmaceutical, and clothing exports, while the EU is promoting duty reductions on cars, medical equipment, wines, and poultry. After the 11th round of negotiations in New Delhi on May 16, representatives from the Commerce Ministry are in Brussels for talks. With bilateral commerce reaching $137.41 billion in 2023–2024, the agreement is anticipated to increase economic relations between the two regions. Read More..

B2B Tech News | 1 months ago        

Bitcoin Hits Record $109,857 as ETF Inflows Surge Past $40 Billion

Bitcoin surged to a new alltime high, reaching $109,857, surpassing its previous January peak. The rally was driven by strong ETF inflows, with cumula

Bitcoin surged to a new alltime high, reaching $109,857, surpassing its previous January peak. The rally was driven by strong ETF inflows, with cumulative investments exceeding $40 billion, alongside growing institutional adoption. Analysts attribute the surge to weaker U.S. dollar trends, increased corporate treasury allocations, and regulatory optimism, as the U.S. Senate advances stablecoin legislation. The inclusion of Coinbase in the S&P 500 further signals mainstream acceptance. Bitcoin’s resilience amid macroeconomic volatility highlights its role as a store of value, with investors closely watching policy developments and market liquidity trends. Read More..

B2B Tech News | 1 months ago        

Argentina Approves Rio Tinto’s $2.5 Billion Rincon Lithium Mining Project

Rio Tintos $2.5 billion Rincon lithium mining project, the first mining endeavour under Argentinas new investment incentive framework RIGI, has been a

Rio Tintos $2.5 billion Rincon lithium mining project, the first mining endeavour under Argentinas new investment incentive framework RIGI, has been approved. The Salta province project is anticipated to increase Argentinas lithium exports, solidifying its standing as the fourthlargest lithium exporter globally. With seven applications still outstanding from companies like Ganfeng, McEwen Copper, and Posco, the clearance comes amid worries over delays in mining project approvals. In order to stabilise Argentinas economy, which is beset by high inflation and currency volatility, the government wants to draw in foreign investment. Direct lithium extraction DLE technology will be used in the Rincon project to increase productivity and environmental sustainability. Read More..

B2B Tech News | 1 months ago        

Nigeria’s Central Bank Holds Rates at 27.50% for Second Consecutive Meeting

Following six rate hikes in 2024, Nigerias central bank has held its benchmark interest rate steady at 27.50% for the second straight year in 2025. Ci

Following six rate hikes in 2024, Nigerias central bank has held its benchmark interest rate steady at 27.50% for the second straight year in 2025. Citing better foreign currency conditions and a slower rate of inflation, the Monetary Policy Committee MPC decided on stability. As Nigeria negotiates international trade obstacles, including U.S. export taxes, the choice strikes a compromise between price stability and economic recovery, according to Central Bank Governor Olayemi Cardoso. A 30% liquidity ratio and a 50% cash reserve ratio CRR are maintained for deposit money banks and 16% for merchant banks, respectively. The action conveys cautious optimism as decisionmakers evaluate the changing economic environment. Read More..

B2B Tech News | 1 months ago        

IMF’s Gita Gopinath Warns U.S. Debt Is Becoming Unsustainable Amid Fiscal Imbalances

The U.S. should reduce its fiscal deficit, IMF First Deputy Managing Director Gita Gopinath has said, pointing out that the nations debt load is incre

The U.S. should reduce its fiscal deficit, IMF First Deputy Managing Director Gita Gopinath has said, pointing out that the nations debt load is increasing unsustainably. She underlined that trade policy uncertainty is still high even though a U.S.UK economic agreement and lower tariffs on China are good developments. With tariffs and budget imbalances as reasons, the IMF has cut its growth prediction for the United States. Regarding longterm debt building, Gopinaths remarks coincide with President Donald Trumps proposal to extend tax cuts from his 2017 term. Citing the inability to turn significant annual deficits, Moodys recently lowered the U.S. sovereign credit rating. Read More..

B2B Tech News | 1 months ago        



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