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Singapores Economy Surges 2.7% in Q1 2024, Beating Forecasts

In Q12024, Singapores GDP grew 2.7% year over year, the most substantial growth in eighteen months, matching preliminary estimates and outpacing proje

In Q12024, Singapores GDP grew 2.7% year over year, the most substantial growth in eighteen months, matching preliminary estimates and outpacing projections by experts. MASs Edward Robinson reaffirmed that the existing monetary policy settings, intended to limit import inflation and local costs, are adequate. In April, core inflation was constant at 3.1%, with a forecast modest decline by Q4. The manufacturing and trade sectors would gradually improve, with GDP growth prospects remaining between 1.0% to 3.0%. In the wake of geopolitical unrest, uncertain global financial markets, and leadership changes—Lawrence Wong took over as Singapores PM recently—nonoil exports confront difficulties. Read More..

B2B Tech News | 1 years ago        

TSMC Forecasts 10% Annual Revenue Growth Fueled by AI Opportunities

Leading participant in the semiconductor market, TSMC expects 10% yearly sales growth, excluding memory chips, fueled by the expanding AI market. At a

Leading participant in the semiconductor market, TSMC expects 10% yearly sales growth, excluding memory chips, fueled by the expanding AI market. At a Hsinchu event, senior vice president Cliff Hou highlighted this tendency. Even if it reduced its forecast back in April, TSMC is nevertheless upbeat about the state of affairs right now. According to World Semiconductor Trade Statistics, the worldwide semiconductor market is expected to increase by 13.1% by 2024. TSMC anticipates a significant revenue surge during the second quarter, driven by the increasing need for chips in artificial intelligence applications. Nvidias latest prediction of quarterly solid sales and a stock split highlights investor confidence and industry optimism even further. Read More..

B2B Tech News | 1 years ago        

Xpeng Surges on Robust Revenue from Volkswagen Partnership, SelfDriving Tech Progress

Propelled by solid revenue growth from research and development services offered to Volkswagen and hopeful statements on its selfdriving technology br

Propelled by solid revenue growth from research and development services offered to Volkswagen and hopeful statements on its selfdriving technology breakthrough, shares of Chinese electric car maker Xpeng soared on Wednesday. In the first quarter, Xpengs income from services almost quadrupled to 1 billion yuan $138 million, primarily due to the companys extended relationship with Volkswagen to develop electric vehicle design. With the increase in service revenue, Xpengs gross margin increased to 12.9%, which was a notable gain over the prior year. Xpeng, showcasing its expertise in intelligent electric vehicles, plans to attain "level four" autonomous driving competence by the end of the following year. Still, it recognises that hardware improvements and regulatory compliance are necessary. The good news continued to pour in as the companys shares shot up 13% in afternoon trade. Read More..

B2B Tech News | 1 years ago        

G7 Finance Chiefs Eye Russian Assets to Aid Ukraine, Tackle Chinas Export Dominance

Chinas increasing export dominance and use of blocked Russian assets to support Ukraines war effort are the main concerns at Italys G7 finance chiefs

Chinas increasing export dominance and use of blocked Russian assets to support Ukraines war effort are the main concerns at Italys G7 finance chiefs meeting. Discussions centre on unblocking around $300 billion in Russian assets, with the United States suggesting a loan to Ukraine secured by the future earnings from these holdings. Though specific agreements are doubtful, talks will develop a plan to be presented to the G7 chiefs of state in June. Difficulties arise from administrative technicalities and legal complications. On the agenda are trade tensions with China, which have been made worse by recent tariff rises by the United States. The economic impact of AI, international taxes, sanctions against Russia, and a planned wealth tax on billionaires that would face opposition from the US are among other subjects. Read More..

B2B Tech News | 1 years ago        

Eskom Delays Closure of Coal Plants Amid South Africas Energy Crisis

The national electricity company in South Africa, Eskom, has delayed closing several coalfired power stations until 2030. These plants include Camden,

The national electricity company in South Africa, Eskom, has delayed closing several coalfired power stations until 2030. These plants include Camden, Krootflei, and Hendrina. This decision comes during the nations acute electrical crisis, which resulted in daily power outages of up to almost 10 hours last year, severely damaging the economy. Initially, the individual was scheduled to retire between 2023 and 2027. With the debate surrounding the planned Just Energy Transition Partnership JetP finance model, South Africas energy transition strategy has come under examination. Furthermore, there has been opposition to the Komati power plants retirement in Mpumalanga in October 2022 since plans are in place to convert it into a wind and solar power facility. Read More..

B2B Tech News | 1 years ago        

ThinKuvate Launches Rs 100 Crore Fund for Indian Tech Startups

With a corpus of Rs 100 crore, ThinKuvate India Fund I, the first Indiafocused fund from Singaporebased angel investing network ThinKuvate, is set to

With a corpus of Rs 100 crore, ThinKuvate India Fund I, the first Indiafocused fund from Singaporebased angel investing network ThinKuvate, is set to start. The fund, which targets innovative firms in various areas, seeks to invest up to Rs 3 crore in each business for 12–15 investments every year. Investor roadshows will begin in Nagpur, Raipur, Bangalore, and Chennai to reach burgeoning startup hotspots. After obtaining Sebis permission, ThinKuvate anticipates closing its first deal this quarter. The fund, run by Nagpur University alums, is well known for its excellent transaction finding and mentoring. With past exits and followon rounds, ThinKuvate hopes to use its worldwide VC standards and vast expertise to support the growth of Indian entrepreneurs. Read More..

B2B Tech News | 1 years ago        

Robinhood Cuts Margin Loan Rates to Drive Retail Investor Participation

Robinhood is lowering the interest rates on its margin loans to encourage more consumers to use this borrowing option against their stocks. This actio

Robinhood is lowering the interest rates on its margin loans to encourage more consumers to use this borrowing option against their stocks. This action is consistent with the businesss overarching plan to develop into a fullservice brokerage platform that meets the demands of individual investors. Robinhood wants to attract investors who have participated in social media campaigns opposing Wall Street by lowering interest rates. With prices that have been reduced and now range from 5.70% to 6.75%, margin loans are now more affordable and accessible than they were with other brokers, such as Charles Schwab. To increase consumer interaction and broaden its range of products, Robinhood also keeps adding new services like credit cards and retirement accounts. Read More..

B2B Tech News | 1 years ago        

Palo Alto Networks FourthQuarter Billings Forecast Disappoints, Reflecting Cautious Cybersecurity Spending

Investors were disappointed by Palo Alto Networks fourthquarter billings projection, which indicated cautious corporate spending on cybersecurity solu

Investors were disappointed by Palo Alto Networks fourthquarter billings projection, which indicated cautious corporate spending on cybersecurity solutions in the face of inflation and economic uncertainty. Concerns of a slowdown in cybersecurity growth emerged as companies continue to be cautious and spread their expenditures across several providers in an effort to reduce risks. Though it came in within experts expectations, the companys predicted fourthquarter billings sparked doubts about momentum. Even with small adjustments to its yearly billings estimate, the prognosis did not show a discernible acceleration of momentum. Additionally, rival Fortinet predicted secondquarter billings that were lower than expected. Palo Altos thirdquarter billings were somewhat below projections, but sales increased by almost 15% to $1.98 billion, above forecasts. The firm exceeded projections with an adjusted profit per share of $1.32. 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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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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