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Kenya to Exit GovernmenttoGovernment G2G Oil Supply Deal

The GovernmenttoGovernment G2G oil supply agreement between the Kenyan government and its three national oil exporters from the Gulf is scheduled to e

The GovernmenttoGovernment G2G oil supply agreement between the Kenyan government and its three national oil exporters from the Gulf is scheduled to expire in April 2023. The goal of the G2G agreement was to maintain the value of the Kenyan Shilling relative to other currencies. But according to an International Monetary Fund IMF assessment, the plan has yet to produce the expected outcomes. The government intends to end the oil import agreement because of increasing rollover risk for financing facilities in the private sector, inefficiencies in the foreign exchange market, and a dedication to private market solutions in the energy sector. The ninemonth agreement was first extended until December 2024, when it was withdrawn. The Kenyan Shilling lost more than 20% of its value relative to the US dollar, notwithstanding the plan Read More..

B2B Tech News | 1 years ago        

South Koreas FSC Vows to Boost InvestorFriendly Environment for Foreigners

According to Kim Soyoung, the deputy chairman of the Financial Services Commission FSC, South Koreas financial regulator, the organisation wants to im

According to Kim Soyoung, the deputy chairman of the Financial Services Commission FSC, South Koreas financial regulator, the organisation wants to improve the countrys financial markets allure to international investors and investorfriendly atmosphere. This pledge was made during a meeting in Seoul with representatives of foreign financial firms. This action comes after short selling was outlawed in November 2023. Kim underlined the initiatives taken by the government to internationalise the financial sector and foster an atmosphere welcoming to foreign financial enterprises. To improve foreign access to the market, regulatory reforms were put in place, such as removing a 30yearold restriction requiring foreigners to register to trade listed equities. Read More..

B2B Tech News | 1 years ago        

French Group FDJ Makes $2.5 Billion Cash Offer for Kindred Group

Kindred Group, an online gaming company, has officially announced that French group La Française des Jeux FDJ has made a cash buyout offer. FDJ will

Kindred Group, an online gaming company, has officially announced that French group La Française des Jeux FDJ has made a cash buyout offer. FDJ will purchase all of Kindreds outstanding share capital as part of the deal, which is expected to be revealed on Monday. Reports indicate that the bid is valued at about $2.5 billion. Kindred Group offers over 30 million consumers online gaming services under nine different brands in Europe, North America, and Australia. The purchase offer comes after FDJs November 2023 completion of its purchase of Premier Lotteries Ireland. Read More..

B2B Tech News | 1 years ago        

Terraform Labs, Creator of TerraUSD, Files for Chapter 11 Bankruptcy

The firm that created the stablecoin TerraUSD, Terraform Labs, has declared Chapter 11 bankruptcy in the US. The corporation, domiciled in Singapore,

The firm that created the stablecoin TerraUSD, Terraform Labs, has declared Chapter 11 bankruptcy in the US. The corporation, domiciled in Singapore, reported having assets and liabilities between $100 and $500 million. Throughout the Chapter 11 litigation, Terraform Labs intends to pay all its debts to suppliers and staff without more funding. The petition attempts to allow the firm to carry out its business strategy while managing existing legal actions, such as a Securities and Exchange Commission SEC lawsuit in the United States and representative litigation now pending in Singapore. The SECs lawsuit in civil court against Do Kwon, a cofounder of Terraform, is related to the demise of TerraUSD. Read More..

B2B Tech News | 1 years ago        

U.S. and China Officials Hold First InPerson Meeting on Financial Stability

The new working group on financial stability and capital markets concerns is holding its first inperson meeting in China, with officials from the U.S.

The new working group on financial stability and capital markets concerns is holding its first inperson meeting in China, with officials from the U.S. Treasury and Chinese Finance Ministry beginning a twoday discussion in Beijing. Topics include multinational financial institutions, crossborder transfers, and collaboration in the fight against drug trafficking and money laundering will be discussed. In September, the two economic powers reaffirmed their involvement with each other by establishing a working group and a parallel economic panel. The Treasury Assistant Secretary for International Finance, Brent Neiman, the Undersecretary for Domestic Finance, Nellie Liang, and the Director of Financial Crimes Enforcement, Andrea Gacki, are leading the financial negotiations on the American side. Read More..

B2B Tech News | 1 years ago        

Reddit Plans IPO Launch in March After Three Years of Consideration

According to reports, social networking giant Reddit will make its first public offering IPO in March after more than three years of deliberation. Wit

According to reports, social networking giant Reddit will make its first public offering IPO in March after more than three years of deliberation. With Pinterests launch in 2019, this would be the first big social media firm to go public. In the IPO, Reddit, projected to be worth $10 billion in 2021, plans to sell around 10% of its shares. The business, wellknown for its specialised discussion groups, mostly makes money from advertising and provides premium access. Despite having yet to profit, Reddit projected that its advertising income will reach just over $800 million by 2023. Read More..

B2B Tech News | 1 years ago        

U.S. Designates Houthi Rebels as Terrorists After Red Sea Attacks

After they assaulted a second Americanoperated vessel in the Red Sea, the Houthi rebels, who are headquartered in Yemen, were branded as terrorists by

After they assaulted a second Americanoperated vessel in the Red Sea, the Houthi rebels, who are headquartered in Yemen, were branded as terrorists by the United States. In reaction to US and British bombings, the Houthis, who are aligned with Iran, declare their support for the Palestinian people and vow to launch further attacks. The US military carried out new strikes against the Houthi rockets that were a danger. Major powers have been impacted as commerce between Asia and Europe has stalled due to shipping problems. Attacks by the Houthis cast doubt on the security of the Red Sea, forcing shipping companies such as Maersk to reroute ships and clogging up the worlds supply chains. Italy proposes an EU mission for marine security. Extended assaults might result in a lack of tankers. Read More..

B2B Tech News | 1 years ago        

BYD Launches Three Electric Vehicle Models in Indonesia

The worlds largest electric car manufacturer, BYD of China, has debuted three batteryelectric vehicles in Indonesia as part of its strategy to increas

The worlds largest electric car manufacturer, BYD of China, has debuted three batteryelectric vehicles in Indonesia as part of its strategy to increase its market share in the largest economy in Southeast Asia. With most of its sales in China, BYD overtook Tesla as the leading global electric vehicle manufacturer in the fourth quarter. With a $1.3 billion investment in facilities capable of producing 150,000 vehicles, the business hopes to take advantage of Indonesias booming demand for electric vehicles. Indonesia is pushing hard to adopt electric vehicles and draw capital to support regional supply chains and battery manufacturing. Read More..

B2B Tech News | 1 years ago        



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