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UK Foreign Secretary David Lammy Signs Trade and Defense Agreements with South Africa

David Lammy, the foreign secretary of the United Kingdom, and Ronald Lamola, the foreign secretary of South Africa, recently signed bilateral agreemen

David Lammy, the foreign secretary of the United Kingdom, and Ronald Lamola, the foreign secretary of South Africa, recently signed bilateral agreements in Cape Town that aimed to improve the two nations defence and commerce ties. Lammy emphasised this point in an attempt to determine whether other permanent members, particularly China and Russia, share the UKs historic support for African representation on the U.N. Security Council. Lamola recognised the "close bonds of friendship" between South Africa and the United Kingdom. Still, he pointed out that there is room for progress in these areas since commerce and investment have somewhat stalled due to the epidemic. Read More..

B2B Tech News | 1 months ago        

JSW Steel and POSCO to Invest $7.73 Billion in Odisha’s New Steel Plant to Meet Rising Demand

To take advantage of Indias growing steel demand, JSW Steel of India and POSCO of South Korea intend to spend 650 billion rupees on a combined integra

To take advantage of Indias growing steel demand, JSW Steel of India and POSCO of South Korea intend to spend 650 billion rupees on a combined integrated steel facility in Odisha. After an initial expenditure of 200 billion rupees, the plants first phase is anticipated to be finished by next year, with a capacity of 5 million metric tonnes annually. The firms intend to boost output to 18 million metric tonnes over the following three years. This action aligns with Indias rising steel demand, fuelled by its fast economic expansion and infrastructural construction, including a $12 billion government plan to expand its airport. The new facility will manufacture hotrolled, coldrolled, and galvanised steel to support Indias growing manufacturing and construction industries. Read More..

B2B Tech News | 1 months ago        

Meta Fined $15.67 Million by South Korea for Illegally Collecting Sensitive User Data

The data protection regulator in South Korea has fined Meta Platforms 21.62 billion won $15.67 million for unlawfully gathering and disclosing private

The data protection regulator in South Korea has fined Meta Platforms 21.62 billion won $15.67 million for unlawfully gathering and disclosing private user information to marketers. Without the users agreement, the American internet giant collected personal information about religion, political beliefs, and sexual orientation from around 980,000 South Korean Facebook members. Roughly 4,000 marketers utilised this data to create customised adverts. Meta classified individuals according to sensitive characteristics, such as labelling them as LGBTQ+ or North Korean defectors, the inquiry also found. Meta also failed to stop a data breach that revealed the personal information of ten South Koreans and declined user requests to retrieve their data. Read More..

B2B Tech News | 1 months ago        

Perplexity AI Raises $500 Million, Valuing Company at $9 Billion Amid Legal Challenges

According to insiders, Perplexity, a Californiabased AI search business, receives $500 million in a fresh investment round, putting the companys valua

According to insiders, Perplexity, a Californiabased AI search business, receives $500 million in a fresh investment round, putting the companys valuation at $9 billion. Before leading Perplexitys Series B round in January, when it valued the firm at $520 million, Institutional Venture Partners IVP is leading this round. Following OpenAIs ChatGPTs success, there has been a rush in investor interest, demonstrating the rising interest in artificial intelligence firms. But Perplexity is in legal hot water. Publishers including News Corp and The New York Times have accused the business of utilising their intellectual information for generative AI purposes without consent, leading to a lawsuit and ceaseanddesist orders. Read More..

B2B Tech News | 1 months ago        

OpenAI Explores ForProfit Transition, Seeking Greater Investor Appeal

According to Bloomberg News, OpenAI, under the leadership of Sam Altman, is apparently in early talks to switch to a forprofit business model with the

According to Bloomberg News, OpenAI, under the leadership of Sam Altman, is apparently in early talks to switch to a forprofit business model with the California attorney generals office. Compared to its establishment as a nonprofit AI research lab in 2015, this possible change would be substantial, increasing its attractiveness to investors. The restructure intends to increase OpenAIs appeal in the cutthroat AI market, even though the nonprofit organisation would continue to exist and hold minority ownership in the new forprofit structure. This comes after a recent $6.6 billion investment round that could increase the companys worth to $157 billion, making it one of the most valuable private corporations in the world. Read More..

B2B Tech News | 1 months ago        

Mukesh Ambani Sets Sights on 2025 IPO for Reliance Jio, Valued Over $100 Billion

The telecom company Reliance Jio, which analysts estimate is worth over $100 billion, is the target of Indian billionaire Mukesh Ambanis 2025 initial

The telecom company Reliance Jio, which analysts estimate is worth over $100 billion, is the target of Indian billionaire Mukesh Ambanis 2025 initial public offering IPO. Significant financing, including $25 billion from investors including KKR and General Atlantic, preceded the IPO. Since Reliance Jio already has 479 million users and is Indias top telecom operator, Ambani is completing planning for its initial public offering IPO to provide a steady flow of income. Reliance Retails IPO is anticipated to be postponed past 2025 to solve internal operational issues within its extensive supermarket network. Reliance hopes that Jios IPO will beat Hyundai Indias most recent record of $3.3 billion, while Reliance Retail concentrates on enhancing its financial performance in the face of intensifying competition. Read More..

B2B Tech News | 1 months ago        

RBNZ Warns of Rising Unemployment and Economic Contraction in Latest Stability Report

In its most recent Financial Stability Report, the Reserve Bank of New Zealand RBNZ presented a bleak picture of the economy, emphasising a rise in un

In its most recent Financial Stability Report, the Reserve Bank of New Zealand RBNZ presented a bleak picture of the economy, emphasising a rise in unemployment and a halt in company investment because of financial issues. It saw a sharp drop in domestic economic activity, made worse by slow global growth and high interest rates, which decreased demand. Many households experience severe financial difficulties as unemployment rises, and firms report weak demand, reduced profitability, and ongoing cost pressures. The RBNZ has lowered the official cash rate by 75 basis points to fight inflation since August and anticipates an economic decline in the third quarter. Notwithstanding these difficulties, the RBNZ confirmed that banks are ready to handle any possible loan defaults and that New Zealands financial system is nonetheless robust. Read More..

B2B Tech News | 1 months ago        

RBA Maintains Interest Rate at 4.35%, Keeping Focus on Inflation Decline

At its November meeting, the Reserve Bank of Australia RBA maintained its interest rate at 4.35%, as the markets had generally anticipated. The bank s

At its November meeting, the Reserve Bank of Australia RBA maintained its interest rate at 4.35%, as the markets had generally anticipated. The bank stressed that its policy would continue to be restrictive unless core inflation began to drop. Because of government power rebates, headline inflation fell to 2.8%, but underlying inflation was persistently high at 3.5%. According to RBA projections, underlying inflation will not return to the target range of 23% until 2026, and it will only marginally decline to 3.4% by years end. According to forecasts, the firstrate drop may not happen until mid2025, despite a robust labour market that recorded employment gains of 3.1% on average. Read More..

B2B Tech News | 1 months ago        



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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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