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KoreaAfrica Summit Paves the Way for Enhanced Cooperation

Representatives from 48 African countries gather for the first KoreaAfrica summit to strengthen trade, investment, and technological collaboration. To

Representatives from 48 African countries gather for the first KoreaAfrica summit to strengthen trade, investment, and technological collaboration. To improve supply chain resilience, South Korea strongly emphasises collaborations involving minerals and resources, especially in vital industries like battery manufacturing. To support South Korean commerce and investment in Africa, commitments have been made to increase official development assistance to $10 billion by 2030 and to provide $14 billion in export finance. Even though South Koreas imports and exports from Africa account for less than 2 per cent of its total, its outreach indicates a strategic involvement that corresponds with North Koreas diplomatic manoeuvres. Read More..

B2B Tech News | 1 months ago        

Currency Declines Continue South Africas Rand and Mexicos Peso React to Election Surprises

The recent turmoil in the financial markets of Mexico, India, and South Africa highlights how political developments in significant developing economi

The recent turmoil in the financial markets of Mexico, India, and South Africa highlights how political developments in significant developing economies continue to have an impact. In the aftermath of unexpected election results, the peso and rand in Mexico continued their downward trend. At the same time, signals that Prime Minister Modi might not win a majority sent shockwaves through Indias equities markets. The way the markets respond to political risk events serves as a reminder of their importance and emphasises the necessity of carefully weighing all possible outcomes. About the future, the U.S. presidential election appears to be an essential event to keep an eye on because of its possible effects on world markets and economies, especially in light of populist emotions and debt concerns. Read More..

B2B Tech News | 1 months ago        

Australias Economy Stagnates Q1 GDP Growth at 0.1%, Lowest in Three Decades

With real GDP growing by just 0.1% in the March quarter—below market expectations—Australias economy stalled. The lowest annual growth rate in thr

With real GDP growing by just 0.1% in the March quarter—below market expectations—Australias economy stalled. The lowest annual growth rate in three decades occurred at 1.1% before the pandemic. The amount spent by households increased slightly by 1.3%, mainly on necessities, while discretionary expenditure stayed the same. The savings rate fell to an alltime low of 0.9%, indicating severe household financial hardship. Financial markets have discounted more interest rate increases by the Reserve Bank of Australia, notwithstanding the lacklustre economic performance. Concerns about inflation persist as consumer prices increased by 3.6% in April. However, the per capita GDP fell, indicating that migrationdriven fast population expansion has pressured the housing market and raised rents to alltime highs. Read More..

B2B Tech News | 1 months ago        

Tesla to Spend $34 Billion on Nvidia Hardware Elon Musk Reveals AI Investment Plans

Elon Musk stated on X that Tesla anticipates spending $3 billion to $4 billion this year on Nvidia hardware acquisitions. He also revealed that almost

Elon Musk stated on X that Tesla anticipates spending $3 billion to $4 billion this year on Nvidia hardware acquisitions. He also revealed that almost half of the $10 billion set up for capital expenditures relating to artificial intelligence will be spent internally. Musk underlined that Nvidias hardware, which accounts for over twothirds of the cost, is essential to constructing AI training superclusters. The statement and rumours that Tesla asked Nvidia to prioritise shipments of AI chips for its X and xAI divisions coincide, demonstrating the strategic significance of AI technology for the manufacturer of electric vehicles. These events coincide with the companys reaffirmed capital expenditure estimate of more than $10 billion for the year and come ahead of a crucial shareholder vote on Musks compensation plan at Tesla. Read More..

B2B Tech News | 1 months ago        

Databricks Acquires Tabular Boosting Cloud Data Optimization Capabilities

Amidst competition from Snowflake and other startups, Databricks announced that it had acquired Tabular. This firm specialises in optimising data stor

Amidst competition from Snowflake and other startups, Databricks announced that it had acquired Tabular. This firm specialises in optimising data stored in the cloud. The move is intended to improve product development. The over $1 billion purchase highlights Databricks ambitious growth plan, supported by significant venture capital financing. The cofounders of Tabular gained experience with Apache Iceberg while working at Netflix. This knowledge enhances Databricks opensource project, Delta Lake. It puts Tabular in a position to benefit from changing consumer demands for data storage. The purchase shows Databricks dedication to innovation and interoperability in data analytics as it grows its market share. Read More..

B2B Tech News | 1 months ago        

Apollo Global Acquires 49% Stake in Intel’s $11 Billion Irish Facility

In Leixlip, Ireland, Apollo Global Management will purchase a 49% ownership stake in Intels planned $11 billion manufacturing facility. The agreement,

In Leixlip, Ireland, Apollo Global Management will purchase a 49% ownership stake in Intels planned $11 billion manufacturing facility. The agreement, anticipated to finalise in Q2, enables Intel to reallocate its investment. With an initial investment of $18.4 billion, Intel is building the plant, which will be the first to use its cuttingedge EUV lithography technology. While Intel maintains ownership and management, the joint venture allows chip fabrication to occur at the location. This action is consistent with Intels plan to use funds and subsidies from the European Commission. According to CFO David Zinsner, the transactions favourable conditions give Intel financial flexibility as it manages the sluggish demand for conventional processors in the face of a rising market for AI components. Read More..

B2B Tech News | 1 months ago        

TSMC Weighs Moving Chip Plants Amid China Tensions, But 8090% Remains in Taiwan

Taiwanese chipmaker TSMC has held talks with some customers about moving its chip plants off the island due to rising tensions with China. However, TS

Taiwanese chipmaker TSMC has held talks with some customers about moving its chip plants off the island due to rising tensions with China. However, TSMC Chairman C.C. Wei stated that it would be impossible to move chip factories out of the island, as 8090% of its production capacity is in Taiwan. The company is grappling with orders for highend chips offering generative artificial intelligence tools and services. TSMC has also had discussions with ChatGPT creator OpenAI over AI chip supplies, which the Taiwanese firm considered "too aggressive". Last year, TSMC and Altman discussed a potential partnership to build around three dozen factories to acquire enough silicon to meet their growing need. Despite the tensions in China, the topic of a possible war and its impact on chip supply chains has barely been featured at the annual Computex technology trade show in Taipei. Read More..

B2B Tech News | 1 months ago        

Atos Nearing Decision on Shareholder Dilution Kretinsky, Layani Proposals Compete

As it evaluates two rescue bids, backed by Czech billionaire Daniel Kretinsky and significant shareholder David Layani, French IT company Atos risks m

As it evaluates two rescue bids, backed by Czech billionaire Daniel Kretinsky and significant shareholder David Layani, French IT company Atos risks massive shareholder dilution. The beleaguered business, whose stock has plummeted, intends to decide by Wednesday. The disclosure of both plans in May is expected to result in a significant dilution of current shareholders. To complete the restructuring agreement by July, Atos is collaborating with financial creditors to get approval for one of the agreements by June 5. The two surviving agreements come after a string of fruitless takeover talks, including with the French government and Airbus. In April, the government indicated its interest in purchasing a portion of Atos company. The government may bid nonbinding in early June, although Atos stated that due diligence is still in progress. Read More..

B2B Tech News | 1 months ago        



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