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CoinDCX Completes Acquisition of BitOasis, Expands Crypto Footprint in Middle East

The purchase of BitOasis, a cryptocurrency platform with a Middle Eastern emphasis, has been completed by Indias CoinDCX, both firms revealed in a joi

The purchase of BitOasis, a cryptocurrency platform with a Middle Eastern emphasis, has been completed by Indias CoinDCX, both firms revealed in a joint statement. After first purchasing a stake in BitOasis last year, CoinDCX now controls all of the companys shares. However, the specific financials were not made public. BitOasis is a 2016founded brokerdealer company with its headquarters located in Dubai. It operates under regulatory frameworks from organisations such as the Central Bank of Bahrain and VARA in the United Arab Emirates. Through the purchase, BitOasis hopes to strengthen its position in its serviced territory of fifteen nations and expand its range of services in line with the UAEs aspirations to become a significant worldwide centre for the cryptocurrency business. Read More..

B2B Tech News | 1 years ago        

Siemens Energy to Hire Over 10,000 Employees Amid Rising Power Demand

In response to rising power demand, Siemens Energy ENR1n.DE intends to hire over 10,000 people and invest €1.2 billion $1.29 billion in its electric

In response to rising power demand, Siemens Energy ENR1n.DE intends to hire over 10,000 people and invest €1.2 billion $1.29 billion in its electrical grid business over the next six years. The head of Grid Technologies, Tim Holt, highlighted the anticipated surge in grid investments worldwide over the next fifteen years. The €1.2 billion will be used by the Grid Technologies business to build new plants and expand its production capabilities in the US, Europe, and Asia. The US, India, and various regions of Asia and Latin America will account for the remaining 40% of new employment, with the majority located in Europe. The 2020 spinoff Siemens Energy is also facing difficulties in its wind turbine division, Siemens Gamesa. Read More..

B2B Tech News | 1 years ago        

Cairo Meeting Yields MultiBillion Dollar Deals Between Egypt and EU

Billions of euros worth of deals were signed during the summit in Cairo, which EU Commission Chief Ursula von der Leyen and President Abdel Fattah elS

Billions of euros worth of deals were signed during the summit in Cairo, which EU Commission Chief Ursula von der Leyen and President Abdel Fattah elSissi attended. This meeting comes after a $7.9 billion aid package was approved in March to support Egypt battling its economic crisis, worsened by growing debt, inflation, and currency scarcity. Most of the package comprises small and mediumsized loans, and Cairo will also need to deal with irregular migration and boost energy exports to Europe. Human rights organisations have criticised similar agreements with Mauritania, Libya, and Tunisia. The EU sees Egypts natural gas reserves as essential to displacing Russian energy. Egypts attractiveness to European investment was demonstrated by the over 20 agreements totalling over €40 billion that European businesses inked. Read More..

B2B Tech News | 1 years ago        

Sodexos Q3 Sales Rise to €6.07 Billion, Slightly Below Expectations

The French food caterer Sodexo had thirdquarter sales that were somewhat lower than anticipated because of a slowdown in China and adjustments to reve

The French food caterer Sodexo had thirdquarter sales that were somewhat lower than anticipated because of a slowdown in China and adjustments to revenue recognition for a few fixedterm contracts in Australia. Revenue missed the target of €6.11 billion, rising 6.8% organically to €6.07 billion $6.51 billion. Due to weaker price impacts, higher comparative numbers, and the second quarters favourable impact from the leap year, organic growth decreased. Sodexo is raising prices to combat excessive inflation, even after it spun off its voucher firm Pluxee in February. This quarters price hikes are less than 4%, compared to almost 5% last year. The business released its expectations for the Augustending fiscal year. Read More..

B2B Tech News | 1 years ago        

Revolut Reports £438 Million Pretax Profit for 2023, Surging from Previous Years Loss

Revolut, a British fintech company, reported a pretax profit of £438 million in 2023 after suffering a £25.4 million loss the year before. This was

Revolut, a British fintech company, reported a pretax profit of £438 million in 2023 after suffering a £25.4 million loss the year before. This was an impressive turnaround for the company. Predictably, revenue exceeded £1.8 billion, fueled by solid user growth and more interestrelated activity revenue. The firm wants to establish itself as the top startup in Europe and aims for a valuation of over $40 billion through a $500 million share sale. Revolut is still awaiting permission to obtain a UK banking licence after applying three years ago CEO Nikolay Storonsky is optimistic about the outcome. Due to investor apprehension following the epidemic, the fintech industry in Britain is under more scrutiny, emphasising how crucial it is for businesses like Revolut to show consistent profitability and regulatory compliance. Read More..

B2B Tech News | 1 years ago        

BlackRock Makes Strategic Move with $3.23 Billion Preqin Acquisition

The largest asset management company in the world, BlackRock BLK.N, has agreed to pay 2.55 billion pounds $3.23 billion in cash to purchase Preqin, a

The largest asset management company in the world, BlackRock BLK.N, has agreed to pay 2.55 billion pounds $3.23 billion in cash to purchase Preqin, a data provider in the UK. With this acquisition, BlackRock is strengthening its Aladdin technology platform and taking a calculated step into the private markets data space. Preqins vast data, research skills, and investing methods will benefit Aladdin, BlackRocks flagship portfolio management software, improving services for international fund managers. Preqin was established in 2003 and provides alternative investing data to customers in over 90 countries. Preqin has exhibited a robust yearly growth rate of roughly 20% in recent years, and BlackRock projects that it will generate approximately $240 million in recurring revenue by 2024. Read More..

B2B Tech News | 1 years ago        

Atos Finalizes Agreement for Debt Restructuring, Plans Capital Increase and Debt Conversion

The French technology giant Atos ATOS.PA has made significant progress in its financial recovery efforts by finalising an agreement with a group of ba

The French technology giant Atos ATOS.PA has made significant progress in its financial recovery efforts by finalising an agreement with a group of banks and bondholders about its debt restructuring plan. The restructuring strategy includes a capital increase of 233 million euros $250 million through preferential subscription rights. Atos net indebtedness will be drastically reduced by approximately 3.1 billion euros once approximately 2.8 billion euros of its debt is converted into equity, totalling 2.9 billion euros. After ending talks with investor David Layanis Onepoint consortium last Wednesday, Atos hopes to finalise the restructuring deal by July. Read More..

B2B Tech News | 1 years ago        

Google Makes Strategic Investment in Taiwans New Green Power for Renewable Energy Push

As part of its efforts to lower carbon emissions throughout its supply chain and operations, Google has invested in Taiwans New Green Power NGP and ai

As part of its efforts to lower carbon emissions throughout its supply chain and operations, Google has invested in Taiwans New Green Power NGP and aims to buy up to 300 megawatts of renewable energy from the company. The investment is intended to promote NGPs construction of a sizable solar pipeline in Taiwan, which was made possible by a stake acquisition whose value still needs to be revealed. This action is essential as Taiwans decarbonisation initiatives will face difficulties because it still primarily generates its electricity from fossil fuels. Google plans to address Scope 3 emissions related to its value chain by using the solar energy it has acquired to power its activities and provide excess to suppliers. Read More..

B2B Tech News | 1 years 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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