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Honor Receives Major Support from Shenzhen for Upcoming IPO Research Funding, Tax Breaks, and Expansion Aid

The Shenzhen government is giving Honor, the former Huawei division, much help as it prepares for an IPO. Support comes in the form of tax reductions,

The Shenzhen government is giving Honor, the former Huawei division, much help as it prepares for an IPO. Support comes in the form of tax reductions, funds for research and development, and help expanding internationally. To meet Honors demands, Shenzhen has also assembled a specialised staff. With the real estate market slowing down, the citys strategic interest in supporting Honor is evident. Honour is considered essential to stabilising local industry growth and export performance. Honour intends to become a top worldwide vendor by 2028 and is pursuing a significant rise in phone shipments in preparation for its listing on Chinas Ashare market. The companys increased support before the IPO will likely reassure investors. Read More..

B2B Tech News | 1 years ago        

Gautam Adani to Step Down at 70, Handing Over Control to Sons and Nephews in Structured Succession Plan

Chairman of the Adani Group Gautam Adani intends to retire at the age of 70, handing over leadership to his sons Jeet and Karan, as well as his nephew

Chairman of the Adani Group Gautam Adani intends to retire at the age of 70, handing over leadership to his sons Jeet and Karan, as well as his nephews Pranav and Sagar Jr. To safeguard the longevity of the company, he strives for a slow, methodical succession. Adani has created a fourway leadership system by assigning his successors different roles but demanding cooperation from them all. Ports, energy, and infrastructure are just a few industries in which the Adani Group operates, and it has a $213 billion market valuation. The family unity and corporate growth that Adani is committed to are reflected in the succession plan. Read More..

B2B Tech News | 1 years ago        

Ethiopia to Restructure $4.9 Billion in Debt as Part of Major Financial Overhaul

Under the current debt reform, Ethiopia anticipates restructuring $4.9 billion in debt, according to State Finance Minister Eyob Tekaligns announcemen

Under the current debt reform, Ethiopia anticipates restructuring $4.9 billion in debt, according to State Finance Minister Eyob Tekaligns announcement. Ethiopia just floated its birr currency after the countrys new $3.4 billion financing agreement with the International Monetary Fund IMF. Over the next several months, the nation wants to finalise arrangements with each of its creditors. In March, around $28 billion of Ethiopias external debt was held in Eurobonds. Despite inflation worries, Prime Minister Abiy Ahmed defended the recent move to a marketdetermined currency rate, claiming it will stabilise official and black market prices and promote longterm economic growth. Read More..

B2B Tech News | 1 years ago        

Character.AI Enters NonExclusive Licensing Deal with Google, Secures Additional Funding

The Character.AI and Google have reached a nonexclusive licensing deal that permits Google to utilise Character.AIs extensive language model technolog

The Character.AI and Google have reached a nonexclusive licensing deal that permits Google to utilise Character.AIs extensive language model technology. This pact comes after similar agreements made by Amazon and Microsoft, and it will see Noam Shazeer and Daniel De Freitas, the cofounders of Character.AI, rejoin Google. Google has extended its financing to the firm however, the precise sum remained undisclosed. Dominic Perella, the general counsel of Character.AI, will assume the role of acting CEO. This transaction reflects authorities continued examination of Character.AI mergers because they are worried about the concentration of people and technology among large tech businesses. Before this, Character.AI had secured $193 million in venture money and was in talks with Google to get further funding. Read More..

B2B Tech News | 1 years ago        

World Bank Approves $1.5 Billion in Direct Budgetary Support for Ethiopia

The World Banks board has authorised Ethiopias first direct budgetary help, totalling $1.5 billion, for the countrys budget support. A $500 million lo

The World Banks board has authorised Ethiopias first direct budgetary help, totalling $1.5 billion, for the countrys budget support. A $500 million lowinterest credit line and a $1 billion grant are included in this package. Ethiopias debt restructuring operations have progressed with permission after the country recently decided to float its birr currency. This money is part of a larger $10.7 billion loan package that the IMF, World Bank, and other lenders provide to Ethiopia to assist its budgetary stability and economic reforms. Read More..

B2B Tech News | 1 years ago        

China Advised to Implement Firm Inflation Target and Increase Fiscal Stimulus Amid Deflationary Pressures

An advisor on central bank policy has recommended that China step up its fiscal stimulus and set a strict inflation target to prevent becoming caught

An advisor on central bank policy has recommended that China step up its fiscal stimulus and set a strict inflation target to prevent becoming caught in a "low inflation trap." Reducing fiscal expenditure and reorienting the focus from investment to consumption is crucial, according to prominent economist and Peoples Bank of China policy advisor Huang Yiping. In line with the nations objectives for economic growth, he proposed establishing a strict yearly target for consumer inflation between 2% and 3%, which would also assist offset deflationary tendencies. Huang emphasised the need for prompt and successful macroeconomic measures while cautioning that too conservative policies might jeopardise economic stability. Read More..

B2B Tech News | 1 years ago        

BNP Paribas Seeks to Boost Asset Management Division with €5.1 Billion AXA Investment Managers Acquisition

Exclusive negotiations are underway between French insurer AXA AXAF.PA and BNP Paribas BNPP.PA for AXA Investment Managers 100% acquisition for €5.1

Exclusive negotiations are underway between French insurer AXA AXAF.PA and BNP Paribas BNPP.PA for AXA Investment Managers 100% acquisition for €5.1 billion $5.50 billion. By bringing its total assets under management to almost €1.5 trillion, this deal would significantly improve BNPs asset management business and establish it as one of Europes leading asset managers. The agreement will affect BNPs CET1 ratio by around 25 basis points and is anticipated to close by mid2025. AXA intends to repurchase shares with €3.8 billion of the profits, with the remaining funds going towards expansion projects. A 15year contract for BNP to offer investment management services to AXA is also a part of the deal. Read More..

B2B Tech News | 1 years ago        

Cloudflare Boosts Annual Revenue and Profit Forecasts Following Strong Q2 Performance

After a solid quarter, Cloudflare NET.N increased its estimates for yearly sales and profit in postmarket trade, the companys shares rose 9%. For the

After a solid quarter, Cloudflare NET.N increased its estimates for yearly sales and profit in postmarket trade, the companys shares rose 9%. For the quarter ending June 30, the firm reported a sales increase of 30% year over year, beating analysts estimates to reach $401.0 million. Cloudflare has raised its revenue expectation 2024 from $1.657 billion to $1.659 billion. Additionally, it increased its predicted adjusted profits per share to 70–71 cents. The business predicted sales for the third quarter of between $423.0 million and $424.0 million, and its gross profit margin increased to 77.8%. Read More..

B2B Tech News | 1 years ago        



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