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HSBC Raises Zomatos Target Price to ₹200, Maintains Buy Rating on Growth Prospects

With the expectation of increased digital expenditure in India, HSBC has increased Zomatos target price to ₹200 per share and kept its Buy rating. T

With the expectation of increased digital expenditure in India, HSBC has increased Zomatos target price to ₹200 per share and kept its Buy rating. The firm is nonetheless upbeat about Zomatos prospects for speedy commerce and its continued growth in market share in meal delivery. It raises its order growth rates and gross order value predictions, anticipating surprises in Blinkits growth and profitability. In the long run, HSBC believes that Blinkits advertising income will account for almost all its EBITDA margin. It predicts an increase in digital advertising spending in India, with Blinkits share projected to expand because of its digital ads that can be tracked. Zomatos stock has increased significantly recently, indicating investors confidence. Zomato shares were trading on the BSE at ₹153.20 a share as of 1100 am. Read More..

B2B Tech News | 2 months ago        

African Development Bank President Urges African Nations to Shift Away from Natural ResourceBacked Loans

The African Development Banks chief, Akinwumi Adesina, urges African nations to stop depending on loans backed by natural resources because of their i

The African Development Banks chief, Akinwumi Adesina, urges African nations to stop depending on loans backed by natural resources because of their inherent shortcomings. He highlights the difficulties in valuing natural resources and the power disparities that benefit lenders during negotiations. Adesina draws attention to instances such as Chad, where financial problems brought on by oilbacked loans forced nations to utilise resource earnings to pay off debt. He emphasises these loans obstacles to longterm debt management and urges measures to renegotiate them. Adesina cautions that major lenders like China and Western organisations are backing these loans. To protect the economic stability of African states against corruption and exploitation, urgent collective action is required. Read More..

B2B Tech News | 2 months ago        

Cathay Pacific Airways Reports $1.25 Billion Profit for 2023, Plans Workforce Expansion

Cathay Pacific Airways 0293.HK of Hong Kong announced a profit for 2023 of HK$9.79 billion $1.25 billion, the airlines first yearly profit since 2019.

Cathay Pacific Airways 0293.HK of Hong Kong announced a profit for 2023 of HK$9.79 billion $1.25 billion, the airlines first yearly profit since 2019. Given this favourable financial result, Cathay intends to recruit around 5,000 new workers this year, or a 20% increase in staff. This hiring initiative is part of Cathays efforts to recover from the adverse effects of COVID19, which caused the airline to suffer significant losses in the past, including a HK$6.6 billion deficit in 2022. Cathay is less aggressive regarding capacity restoration than its nearest competitor, Singapore Airlines SIAL.SI. However, it plans to restore 80% of its prepandemic passenger flights by the second quarter of 2023. Fullservice passenger and freight airline Cathay Pacific has two subsidiaries the lowcost airline HK Express and cargo carrier Air Hong Kong. Read More..

B2B Tech News | 2 months ago        

Volvo Cars Invests in Breathe Battery Technologies to Accelerate EV Charging Innovation

Volvo Cars has invested in the UK business to use Breathe Battery Technologies battery software and save thirty per cent of the charging time of its f

Volvo Cars has invested in the UK business to use Breathe Battery Technologies battery software and save thirty per cent of the charging time of its forthcoming Electric Vehicles EVs. Through the Volvo Cars Tech Fund, the funding allows collaboration to prioritise innovation and address consumer problem areas. EVs can securely charge at full power because of Breathes algorithmbased charging software, which also improves battery health monitoring. This development is essential for quickening the adoption of EVs. The current software from Breathe, installed in Oppo smartphones, improves battery performance and longevity. Plans aim to expand these advantages to include EV batteries. Breathes cooperation with Volvo is a crucial step towards softwaredriven battery breakthroughs in the automobile sector, even though particular collaborations are still secret. Read More..

B2B Tech News | 2 months ago        

Oracle Surpasses Quarterly Profit Estimates, Soars on Nvidia Collaboration News

Driven by the spike in demand for generative AI, Oracle ORCL.N surpassed quarterly profit projections and announced a cooperative venture with chip gi

Driven by the spike in demand for generative AI, Oracle ORCL.N surpassed quarterly profit projections and announced a cooperative venture with chip giant Nvidia NVDA.O. After hours of trading, the announcement sent Oracles shares up by over 14%, increasing the companys market worth by over $40 billion. Oracle has partnered with Microsoft and Nvidia to deliver competitive services as it becomes a cloud computing provider. Oracles Gen2 AI infrastructure is in great demand, as seen by the companys enormous contracts for cloud infrastructure capacity, which CEO Safra Catz emphasised. Although sales were somewhat below projections, the quarterly profit exceeded expectations, and the rise in Remaining Performance Obligations points to good future outcomes. Oracles sales growth prediction for the upcoming quarter was similar to what experts had anticipated. Read More..

B2B Tech News | 2 months ago        

Reddit Aims for $6.4 Billion Valuation in U.S. IPO, Targeting $748 Million Raise

Reddit plans to sell around 22 million shares between $31 and $34 apiece to fund up to $748 million for its U.S. Initial Public Offering IPO, with a v

Reddit plans to sell around 22 million shares between $31 and $34 apiece to fund up to $748 million for its U.S. Initial Public Offering IPO, with a valuation of up to $6.4 billion. Even with the lofty valuation, it is less than the $10 billion that Reddits 2021 financing brought in. Reddit was established in 2005 and today has 100,000 "subreddits," or forums, where users may debate a wide range of subjects. Reddit, which gained notoriety in 2021 for its "memestock" controversy, has set aside 8% of its shares for moderators and qualified users due to possible market volatility. Despite having a substantial user base of 73.1 million daily active "uniques," Reddits IPO is being closely watched due to concerns over content control and financial difficulties. Read More..

B2B Tech News | 2 months ago        

Bitcoin Surges to Record High Above $72,000 Amidst ETF Inflows

Monday saw Bitcoin reach a record high above $72,000, continuing its unstoppable ascent. The cryptocurrencys price increased 4.4% to $72,649 from its

Monday saw Bitcoin reach a record high above $72,000, continuing its unstoppable ascent. The cryptocurrencys price increased 4.4% to $72,649 from its peak of $72,739. This spike is linked to anticipation of a possible Federal Reserve interest rate decrease and a rush of money into brandnew spot bitcoin exchangetraded funds. Bitfinex analysts highlighted the markets ongoing confidence and demand by pointing out Bitcoins power and endurance. Despite a modest slowdown, capital flows into U.S. spot bitcoin exchangetraded funds hit around $2 billion. The price increase is also fueled by anticipation of Bitcoins impending halving event in April, which will restrict supply. Asset managers are seeing a rise in demand for digital asset trading instruments, such as exchangetraded notes backed by cryptocurrency, despite regulatory worries holding a record bullish position in bitcoin futures. Other cryptocurrencies, like Ether, also saw gains, driven by speculation of potential approval for spot E Read More..

B2B Tech News | 2 months ago        

Japan Bolsters LNG Supply with Investments in Australia, U.S. Projects

As contracts with major LNG suppliers, such as Russia, end, Japan is bolstering its longterm supply by funding projects in Australia and the US. The l

As contracts with major LNG suppliers, such as Russia, end, Japan is bolstering its longterm supply by funding projects in Australia and the US. The largest power generator in Japan, JERA, has purchased a share in Woodside Energys Scarborough project, underscoring attempts to find dependable supplies in the face of global unrest. Japanese utilities aggressively seek collaborations, stressing supply dependability from allies, despite political problems like increased emissions regulations in Australia and restrictions on US LNG export licences. This move underscores a strategic shift in Japans LNG purchase policy. It is consistent with growing collaboration among G7 nations in the wake of Russias invasion of Ukraine over energy security. Read More..

B2B Tech News | 2 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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