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President Tinubu Vows to Push Ahead with Economic Reforms Despite Challenges

President Bola Tinubu of Nigeria acknowledged the countrys difficulties but reiterated his commitment to economic reforms in his Democracy Day speech.

President Bola Tinubu of Nigeria acknowledged the countrys difficulties but reiterated his commitment to economic reforms in his Democracy Day speech. After taking office for a year, Tinubu spoke about the difficulties brought on by recent policy adjustments, such as eliminating fuel subsidies and currency depreciation, which increased inflation to more than 33% by April. He underlined how necessary these measures are to solve persistent economic problems and build a strong basis for future expansion. According to Tinubu, a new minimum salary will also be implemented as part of more significant initiatives to guarantee equitable pay and economic opportunities for all Nigerians. He promised that as his administration pursues its reform programme, it would continue to be receptive to public concerns. Read More..

B2B Tech News | 1 months ago        

Australian Labor Market Surges Adds 39,700 Jobs in May

With 39,700 new jobs added in May, Australias labour market outperformed forecasts, particularly in fulltime employment, which increased by 41,700. In

With 39,700 new jobs added in May, Australias labour market outperformed forecasts, particularly in fulltime employment, which increased by 41,700. In keeping with expectations, the unemployment rate decreased from 4.1% to 4.0%, and the participation rate was steady at 66.8%. Despite these encouraging signs, the Reserve Bank of Australia is anticipated to keep interest rates at 4.35% at its next meeting to promote economic stability in the face of inflation worries. Policy circles were cautiously optimistic, with the economy expanding by barely 0.1% in the first quarter of 2024. According to market opinion, interest rate decreases are expected to be postponed until mid2025, which reflects confidence in the labour markets ability to withstand inflationary pressures and persistent economic difficulties. Read More..

B2B Tech News | 1 months ago        

Apples iPhone Exports Account for 81% of Indias Total iPhone Production Value

Apple Inc. has increased its iPhone exports from India dramatically in the first two months of the current fiscal year FY25, these shipments have exce

Apple Inc. has increased its iPhone exports from India dramatically in the first two months of the current fiscal year FY25, these shipments have exceeded $2 billion, or 81% of the entire value of iPhones produced nationwide. Apples success highlights its dedication to exportoriented production under the productionlinked incentive PLI plan, even if the company declined to comment. The top exporters are Foxconn Hon Hai, Wistron, and Pegatron. With a 40% rise from the previous year, Indias mobile phone exports reached $15.5 billion in FY24 thanks to the boom in iPhone sales, confirming Apples critical position in the countrys electronics export market. Read More..

B2B Tech News | 1 months ago        

Paris Peace Forum Spring Meeting Held in Morocco for the First Time

Being the first Paris forum to be conducted in an African country, the Spring Meeting of the Paris Peace Forum was hosted at the Mohamed VI Polytechni

Being the first Paris forum to be conducted in an African country, the Spring Meeting of the Paris Peace Forum was hosted at the Mohamed VI Polytechnic University in Benguerir, Morocco. Mohammed VI Polytechnic University President Hicham El Habti underlined the significance of adjusting innovations to local settings and the worldwide reach of technology. Nisreen Elsaim emphasised the need to address equity in environmental preservation efforts with her subject of fair transitions, especially concerning energy access in Africa. Amadou Hott emphasised that cooperation between the public and private sectors is essential to fund energy transitions in Africa. The forum culminated in the launch of ATLAS, fostering dialogue and collaboration between Northern and Southern countries and establishing the Global Council for Responsible Transition Minerals, uniting experts for sustainable development initiatives. Read More..

B2B Tech News | 1 months ago        

Russian Foreign Minister Holds Talks with BRICS Counterparts

During the BRICS foreign ministers conference in Nizhny Novgorod, Russia, Russian Foreign Minister Sergey Lavrov held bilateral talks with counterpart

During the BRICS foreign ministers conference in Nizhny Novgorod, Russia, Russian Foreign Minister Sergey Lavrov held bilateral talks with counterparts from Brazil, South Africa, Iran, Laos, Thailand, and Ethiopia. The twoday summit, which takes place on June 10–11, comes before a big BRICS meeting slated to take place in October in Kazan, Russia, during the countrys presidency year. Following the May helicopter disaster that killed Iranian President Ibrahim Raisi and several other officials, Irans Acting Foreign Minister, Ali Bagheri, thanked Lavrov for Russias condolences. Lavrov reaffirmed Moscows backing for Irans will to promote reciprocal cooperation in various areas. Read More..

B2B Tech News | 1 months ago        

Italian AI Startup iGenius Seeks €650 Million for Expansion

The Italian firm iGenius wants to expand its generative artificial intelligence AI technology for the public and financial sectors by raising an addit

The Italian firm iGenius wants to expand its generative artificial intelligence AI technology for the public and financial sectors by raising an additional €650 million $698.56 million. The Milanbased startup, founded in 2016, aims to make a name for itself in Europes developing AI market by competing with significant competitors like Germanys DeepL and Frances Mistral. Angel Capital Management and Eurizon, the asset management division of Intesa Sanpaolo, are among the original investors in this investment round, helping iGenius reach unicorn status with a valuation of more than $1 billion. The injection of funding will bolster the companys attempts to develop AI for regulated sectors. With the release of "Italia," an opensource Large Language Model LLM tool customised for the Italian language and culture, iGenius demonstrated previously unheardof levels of linguistic comprehension accuracy. Read More..

B2B Tech News | 1 months ago        

Egypts Central Bank Stabilizes Interest Rates at 27.75% Following Consecutive Hikes

After two consecutive raises of 800 basis points, Egypts Central Bank stabilised interest rates in 2024 for the first time, with rates currently stand

After two consecutive raises of 800 basis points, Egypts Central Bank stabilised interest rates in 2024 for the first time, with rates currently standing at 27.75%. In May, inflation dropped from 32.5% in April to 28.1% due to the governments decision to liberalise the exchange rate of the Egyptian pound in May. The Central Banks monetary tightening strategy, which has reduced inflation and stabilised currency rates, is credited for this stability. As inflationary pressures lessen, forecasts call for additional inflation reduction through 2024, with a notable fall expected in the first half of 2025. This success has been aided by recent policies that target excess liquidity and the parallel currency market, offsetting the significant inflation of the previous year brought on by the fast expansion of the money supply. Read More..

B2B Tech News | 1 months ago        

AfDB Annual Meetings in Nairobi Focus on Financial System Reforms and Climate Challenges

The African Development Bank AfDB held annual Nairobi meetings addressing climate concerns and global financial system changes. AfDB has to raise capi

The African Development Bank AfDB held annual Nairobi meetings addressing climate concerns and global financial system changes. AfDB has to raise capital to $318 billion to keep its tripleA rating, which is required to enter lowrate markets. Kenyan President William Ruto promoted the inclusion of land, mining, and renewable energy sources in the GDP of African governments. Inclusive green growth, resilient economies, energy access, and agricultural transformation are the main priorities of the AfDBs strategy. The AfDB prioritises cooperation and creative financing methods to treble private sector financing by 2033. It also advocates for establishing an African rating organisation to overcome unjust international ratings. AfDB highlights Africas potential despite obstacles during its 60th anniversary celebrations. Read More..

B2B Tech News | 1 months ago        



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