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Li Qiang, Abiy Ahmed Reaffirm China–Ethiopia Alliance at BRICS Rio Summit

At the Rio BRICS Summit, Ethiopian Prime Minister Abiy Ahmed and Chinese Premier Li Qiang reaffirmed their strategic partnership and committed to stre

At the Rio BRICS Summit, Ethiopian Prime Minister Abiy Ahmed and Chinese Premier Li Qiang reaffirmed their strategic partnership and committed to strengthening multilateral diplomacy, infrastructure, and trade cooperation. Li hailed the 55year diplomatic partnership as an example of ChinaAfrica cooperation and underlined support for the Addis Ababa–Djibouti Railway. Ethiopia, which exported $564 million to China in 2024, compared to $4.3 billion in Chinese exports, was cited as a major beneficiary of Chinas zerotariff policy for African countries. Abiy thanked China for its support and said he hopes to increase industry, tourism, and communications cooperation. Reaffirming their common goal of Global South solidarity, both leaders pledged to improve coordination within BRICS and the UN. Read More..

B2B Tech News | 4 months ago        

CoreWeave Acquires Core Scientific for $9B to Power AI Infrastructure Expansion

CoreWeave, an AI cloud provider, plans to expand its data centre footprint for AI and highperformance computing HPC by purchasing cryptocurrency miner

CoreWeave, an AI cloud provider, plans to expand its data centre footprint for AI and highperformance computing HPC by purchasing cryptocurrency miner Core Scientific in a $9 billion allstock transaction. Originally constructed for energyintensive cryptocurrency mining, the 1.3 gigawatts of power capacity acquired by CoreWeave are now used for AI tasks. 0.1235 CoreWeave shares will be distributed to Core Scientific owners per share, valuing the business at $20.40 a share, which is 66% more than its June 25 pricing. Expected to conclude in Q4 2025, the arrangement removes over $10 billion in future leasing liabilities. By converting or selling cryptocurrency assets, CoreWeave intends to accelerate its vertical integration approach and save operating expenses by an anticipated $500 million a year by 2027. Read More..

B2B Tech News | 4 months ago        

Bitcoin Sinks to $107,970 After Trump Slaps 25% Tariffs on Japan, South Korea

After U.S. President Trump announced 25% tariffs on imports from South Korea and Japan, raising concerns about a global economic downturn, Bitcoin fel

After U.S. President Trump announced 25% tariffs on imports from South Korea and Japan, raising concerns about a global economic downturn, Bitcoin fell precipitously. As trade tensions increased, traders moved to safer assets, causing the cryptocurrency to drop from $860 to $107,970. The duties, which go into effect on August 1, target important industries like electronics and cars and are imposed just before a crucial trade deadline on July 9. Experts caution that growing trade disputes may cause Bitcoin to fall below $100,000, particularly if punitive actions are taken. Shortterm sentiment is still negative, despite some peoples belief that a declining dollar could eventually strengthen Bitcoin. The S&P 500 and Nasdaq fell about 1%, indicating increased investor apprehension regarding the volatility of global commerce. Read More..

B2B Tech News | 4 months ago        

India Eyes Australian Rare Earths as China Tightens Export Grip

After Chinas export restrictions caused supply chains for industries like cars, electronics, and clean energy to be disrupted, India is now in negotia

After Chinas export restrictions caused supply chains for industries like cars, electronics, and clean energy to be disrupted, India is now in negotiations with Australia to get rare earth minerals. Malini Dutt, the New South Wales Trade and Investment Commissioner, stated that India might acquire earlystage mining blocks and establish alliances with Australian companies. There is also interest in copper blocks, and a PSU and private businesses are discussing the possibilities. More than 90% of the worlds magnet processing is currently done in China, and its restrictions have led to shortages of vital materials like terbium and dysprosium. Focused during India Energy Storage Week 2025, the discussions demonstrate Indias efforts to diversify its mineral resources and lessen its strategic reliance on Chinese supply chains. Read More..

B2B Tech News | 4 months ago        

Ramaphosa Rejects Trump’s 30% Tariff, Cites Inaccurate Trade Data

Calling it a misrepresentation of trade facts, South Africa has rejected U.S. President Trumps proposed 30% tariff on its exports. According to Presid

Calling it a misrepresentation of trade facts, South Africa has rejected U.S. President Trumps proposed 30% tariff on its exports. According to President Cyril Ramaphosa, the average import tax is only 7.6%, and 77% of U.S. goods arrive in South Africa dutyfree. Trumps larger reciprocal trade strategy, which targets 14 nations, includes the tariff, which is scheduled to go into force on August 1. Ramaphosa advised local businesses to expand their export markets and underlined the importance of continuing conversations. He applauded the United States suggestion that negotiations could change the tariff. While preparing for possible economic repercussions, South Africa is nevertheless working towards a fair and advantageous trade relationship, having presented a Framework Deal in May. Read More..

B2B Tech News | 4 months ago        

Indonesia Signs $34B MoU With U.S. to Avert 32% Tariff Hike

Indonesia has inked a $34 billion memorandum of understanding to expand trade and investment relations with U.S. corporations, such as Pertamina, Exxo

Indonesia has inked a $34 billion memorandum of understanding to expand trade and investment relations with U.S. corporations, such as Pertamina, ExxonMobil, and Chevron. Along with Indonesian investments in the United States, the agreement covers Indonesias purchases of U.S. grain, cotton, soybeans, and energy items worth up to $15.5 billion. Its part of Jakartas plan to use President Trumps reciprocal trade policy to get reduced U.S. tariffs before the July 9 deadline. The deal also includes companies including Garuda Indonesia and Indofood, as well as Indonesias Danantara sovereign wealth fund. Officials expect that it will assist lower the proposed 32% tariff on Indonesian imports, even though it is not a final one. The agreement highlights the expanding economic collaboration between the United States and Indonesia. Read More..

B2B Tech News | 4 months ago        

OpenAI Inks $30B Deal With Oracle to Power Project Stargate’s AI Ambitions

In a historic $30 billion agreement, OpenAI and Oracle agreed to lease 4.5 gigawatts of data centre capacity in the United States, greatly extending t

In a historic $30 billion agreement, OpenAI and Oracle agreed to lease 4.5 gigawatts of data centre capacity in the United States, greatly extending their Project Stargate AI infrastructure venture. As OpenAI expands its business beyond Microsoft, the deal, which is expected to start generating money for Oracle by fiscal 2028, represents a strategic change. Across several states, including Georgia, Michigan, and Texas, Oracle plans to invest $25 billion in new data centres. Oracle is positioned as a premier AI cloud provider by the transaction, which might triple its cloud income in the upcoming years. Analysts see the action as a reaction to the escalating disputes between Microsoft and OpenAI around access rights to AGI. Oracles stock rose after the news, indicating that investors were confident in the companys ambitious AI infrastructure approach. Read More..

B2B Tech News | 4 months ago        

UAE’s Al Zeyoudi Calls for BarrierFree Trade, Innovation at BRICS Business Forum

UAE Foreign Trade Minister Thani Al Zeyoudi highlighted the possibility of increased trade and investment cooperation among BRICS countries during the

UAE Foreign Trade Minister Thani Al Zeyoudi highlighted the possibility of increased trade and investment cooperation among BRICS countries during the BRICS Business Forum in Rio. He urged collaborations in the fields of logistics, agriculture, renewable energy, technology, and healthcare while highlighting the UAEs close connections with members like Russia, Indonesia, and India. With exports almost doubling since 2019, the UAEs nonoil trade with the BRICS reached $68.3 billion in Q1 2025, up 18.2% year over year. In line with the UAEs larger economic plan, Al Zeyoudi emphasised the necessity of free trade and innovationdriven growth. In keeping with the UAEs expanding influence on inclusive, multipolar economic development within the BRICS bloc, the conference approved new publicprivate initiatives to strengthen cooperation. Read More..

B2B Tech News | 4 months ago        



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