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IMF Urges El Salvador to Limit Bitcoin Exposure Amid Ongoing Cryptocurrency Concerns

El Salvador has been using Bitcoin extensively, which has alarmed the International Monetary Fund IMF, which has called on the nation to restrict publ

El Salvador has been using Bitcoin extensively, which has alarmed the International Monetary Fund IMF, which has called on the nation to restrict public access to the cryptocurrency. IMF spokeswoman Julie Kozack emphasised the dangers of engaging in cryptocurrency activities during a recent news conference, especially considering its instability. Since Bitcoin became legal money alongside the US dollar in 2021, the IMF has been pushing for increased regulatory monitoring and stricter legislation in El Salvador. Despite these cautions, President Nayib Bukele is going for the economic integration of Bitcoin, including establishing a taxfree "Bitcoin City." El Salvador needs $1.4 billion in financial help to pay off its public debt, but the IMF withheld the money because of the countrys involvement in cryptocurrency. Read More..

B2B Tech News | 13 days ago        

Adani Group Eyes $1.2 Billion Deal to Acquire Heidelberg Materials Indian Cement Assets

According to the Economic Times, negotiations are underway for the Adani Group to pay around $1.2 billion to purchase Heidelberg Materials cement asse

According to the Economic Times, negotiations are underway for the Adani Group to pay around $1.2 billion to purchase Heidelberg Materials cement assets in India. Billionaire Gautam Adani led the company that bought Holcims local businesses in 2022 to join the Indian cement industry. Since then, it has made further purchases to challenge leading manufacturer UltraTech Cement. On Monday, HeidelbergCement Indias shares increased by 14.5 per cent, indicating a favourable mood among investors. Heidelberg Materials is considering all of its alternatives in light of the market consolidation trend, admitting that its current position in India could be better. The business operates four factories in India with a combined capacity of 12.6 million tonnes. Read More..

B2B Tech News | 13 days ago        

Denmarks DSV Secures $5.5 Billion to Become the Worlds Largest Logistics Firm with Schenker Deal

Denmarks DSV stated on Friday that it has successfully raised $5.5 billion in shares to partially finance its acquisition of Schenker, making it the l

Denmarks DSV stated on Friday that it has successfully raised $5.5 billion in shares to partially finance its acquisition of Schenker, making it the largest logistics firm in the world. For €14.3 billion $15.76 billion, the business decided to buy Deutsche Bahns logistics section, Schenker. For 1,410.5 Danish crowns, the new shares raised 37.3 billion crowns, or $5.52 billion, or 12.3% of DSVs estimated market worth of 300 billion crowns. Both stock and debt are used to finance purchases. Deutsche Bahns board accepted the sale despite resistance from the union and competition from competitor CVC. Additionally, DSV modified its 2024 profit prediction and disclosed an initial operational profit of 4.4 billion crowns for the third quarter. On October 23, all earnings will be disclosed. Read More..

B2B Tech News | 15 days ago        

Emerging Market Investors Avoiding Common Pitfalls Amid Indias Rise and Chinas Challenges

In developing economies, investors frequently commit grave mistakes by overemphasising GDP growth and relying too much on values as accurate return in

In developing economies, investors frequently commit grave mistakes by overemphasising GDP growth and relying too much on values as accurate return indicators. Over the past 15 years, India and China have seen fast development, but Indian stocks have outpaced Chinese shares by a wide margin. The reason for this discrepancy is Chinas stimulusdriven investment boom, which resulted in chronic overcapacity and improper capital allocation, which decreased investment returns. Higher capital expenses have, nevertheless, produced superior returns in India. Although Indias capital discipline is eroding, with high valuations luring speculative investors, Chinas market may be at a tipping point. China must address surplus capacity and increase capital efficiency to increase shareholder returns. As a result, in light of these shifting dynamics, investors in developing markets should proceed with care. Read More..

B2B Tech News | 15 days ago        

IsraelIran Tensions Escalate, Raising Concerns Over Global Oil Supply

Concerns over the worlds energy markets have increased as a result of the IsraelIran conflicts intensifying violence, especially Israels threats to at

Concerns over the worlds energy markets have increased as a result of the IsraelIran conflicts intensifying violence, especially Israels threats to attack Irans oil infrastructure. Iran is one of the worlds largest oil producers with 3.277 million barrels produced daily, each disruption counts. While Brent Crude just touched $75.74 per barrel, light crude oil futures recently increased to $72.13 per barrel. Sara Vakhshouri, president of SVB Energy International, stated that while limited effects may be minimised, the degree of price changes will rely on the harm done to oil infrastructure. Investment institutions such as Goldman Sachs and Citigroup have lowered their longterm oil price projections despite the present tensions. They believe that oversupply and low demand would cause oil prices to drop to about $60 per barrel by 2025, underscoring the vulnerability of the worlds energy markets. Read More..

B2B Tech News | 15 days ago        

France Announces €60 Billion Budget Tightening to Address Growing Deficit

To confront its mounting deficit, which is expected to reach 6.1% of GDP in 2023, the French government aims to tighten its budget by €60 billion ab

To confront its mounting deficit, which is expected to reach 6.1% of GDP in 2023, the French government aims to tighten its budget by €60 billion about $66 billion the following year. Delaying the euro zones 3% objective until 2029, Prime Minister Michel Barnier wants to get the deficit down to 5% by 2025. This ambitious endeavour will include largescale budget reductions across ministries and shortterm tax rises aimed at wealthy individuals and companies. Barnier highlights that midyear pension adjustments will be made to achieve these reductions. The administration wants to reassure financial markets and EU allies of its commitment to fiscal discipline as public debt exceeds 115% of GDP, despite scepticism from public finance specialists over the viability of these aims. Read More..

B2B Tech News | 15 days ago        

Cisco Systems Poised to Invest in CoreWeave, Valuing Cloud Provider at $23 Billion

Bloomberg News reports that Cisco Systems plans to invest in CoreWeave, valuing the cloud services firm at $23 billion. Nvidiabacked CoreWeave is an e

Bloomberg News reports that Cisco Systems plans to invest in CoreWeave, valuing the cloud services firm at $23 billion. Nvidiabacked CoreWeave is an expert in constructing clusters for AI workloads and has alliances with several AI companies and rival cloud providers. Michael Intrator, the CEO of CoreWeave, has talked about a secondary transaction that would let current owners sell shares for as much as $500 million. Due to the training of massive language models and the rise in demand for cloud computing services by AI applications such as ChatGPT, big tech companies have made enormous investments in infrastructure to support AI research. Regarding the report, neither CoreWeave nor Cisco has offered any comments. Read More..

B2B Tech News | 15 days ago        

Westpac Sells Auto Finance Loans Book to Resimac for Up to A$1.6 Billion, Refocusing on Core Banking

The nonbank lender Resimac Group RMC.AX will purchase Westpac Banking Corps WBC.AX vehicle financing loan book. The deal is anticipated to be complete

The nonbank lender Resimac Group RMC.AX will purchase Westpac Banking Corps WBC.AX vehicle financing loan book. The deal is anticipated to be completed for between A$1.4 billion $963.62 million and A$1.6 billion. Westpac, the secondlargest mortgage lender in Australia, previously sold off a portion of its auto loan division to the American private equity firm Cerberus Capital Management in 2021 to focus on its core banking activities. After acquiring other businesses and portfolios in recent years, Resimac claimed that the purchase aligns with its strategic growth objectives for its asset finance division. The deal is expected to be completed by the first half of 2025. Read More..

B2B Tech News | 15 days ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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