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South Koreas Exports Rise 5.1%, Breaking YearLong Trend

October saw a 5.1% YoY gain in South Koreas exports at $55.09 billion, the first YoY increase since September 2022. Strong sales to the United States

October saw a 5.1% YoY gain in South Koreas exports at $55.09 billion, the first YoY increase since September 2022. Strong sales to the United States and a gradual improvement in Chinas demand were the main drivers of the increase. The gain, however, fell short of the median 5.5% gain that Reuters polled economists to forecast. Exports to the US increased by 17.3%, while shipments to China decreased by 9.5%, the lowest level in 13 months. Automobile exports increased by 19.8%, continuing a 16month streak of growth, and petroleum product exports increased by 18.0%, reversing a slump of seven straight months. For the fifteenth consecutive month, semiconductor sales decreased nevertheless, Octobers 3.1% decline was the lowest of the run. Read More..

B2B Tech News | 2 years ago        

Debt Overload WeWork Faces Imminent Bankruptcy

The flexible workspace company WeWork intends to file for bankruptcy as soon as next week because of its large debt and losses. The business is having

The flexible workspace company WeWork intends to file for bankruptcy as soon as next week because of its large debt and losses. The business is having trouble paying off almost $13 billion in longterm leases in addition to a hefty debt load. WeWork and its creditors recently reached a deal whereby WeWork will temporarily suspend debt payments as the grace period draws to an end. Its filing for bankruptcy indicates a huge decline for a firm valued at $47 billion in 2019 and a substantial loss for investor SoftBank, who had made large investments. As of June, its net longterm debt was $2.9 billion. WeWork raised doubts earlier this year about its capacity to continue operations after announcing its 2021 IPO at a significantly lower valuation. Read More..

B2B Tech News | 2 years ago        

Samsung Plans for the AI Revolution with Chip Cutbacks

Samsung Electronics plans to keep cutting back on chip output in order to alleviate a glut in the market. The company is also getting ready for the sh

Samsung Electronics plans to keep cutting back on chip output in order to alleviate a glut in the market. The company is also getting ready for the shift in industry focus towards highend chips for artificial intelligence AI in 2024. Due to a severe industry slowdown, Samsung has already reduced chip output this year. As the market improves, the company plans to make additional modifications to manufacturing, particularly for NAND flash memory chips. The business projects that in 2024, ondevice AI functionalities would lead to a rise in demand for dynamic randomaccess memory DRAM chips, such as high bandwidth memory HBM. In 2024, Samsung intends to greatly boost the HBM output capacity. The statement caused a 0.3% decline in Samsungs shares. Read More..

B2B Tech News | 2 years ago        

Blackstones BillionDollar Investment in Indias Care Hospitals

Blackstone, a U.S. private equity firm, is going to enter the Indian healthcare services market by acquiring a majority investment in Care Hospitals f

Blackstone, a U.S. private equity firm, is going to enter the Indian healthcare services market by acquiring a majority investment in Care Hospitals from TPG. Blackstone will hold more than 75% of Care Hospitals and invest almost $1 billion in the hospital group. This action is a result of the postpandemic spike in demand for private healthcare in India, which has drawn interest from international investors in the healthcare industry. In addition, Care Hospitals will acquire the majority of KIMSHEALTHs assets, creating one of the biggest hospital networks in India with over 4,000 beds dispersed among 11 Indian cities. The projected value of the transaction is $1.3 billion to $1.5 billion. Read More..

B2B Tech News | 2 years ago        

Germanys Inflation Slides to 3.0% A Welcome Dip

Germanys inflation rate decreased from 4.3% in September to 3.0% in October, its lowest level since August 2021. Core inflation, which does not includ

Germanys inflation rate decreased from 4.3% in September to 3.0% in October, its lowest level since August 2021. Core inflation, which does not include energy and food costs, dropped from 4.6% in September to 4.3% in October. Core inflation is still high even though headline inflation has decreased. Ralph Solveen, an economist at Commerzbank, believes that while core inflation will probably stabilise at 3% by spring, headline inflation will probably continue to decline in the first few months of the upcoming year. It is anticipated that in October, eurozone inflation will drop from 4.3% in September to 3.2%. The inflation objective set by the European Central Bank is roughly 2%. Read More..

B2B Tech News | 2 years ago        

Cryptocurrency Billionaire Powers AI with $500 Million Nvidia Chip Purchase

Voltage Park, a nonprofit organization funded by cryptocurrency billionaire Jed McCaleb, has acquired approximately $500 million worth of Nvidia H100

Voltage Park, a nonprofit organization funded by cryptocurrency billionaire Jed McCaleb, has acquired approximately $500 million worth of Nvidia H100 chips. The organization plans to lease computing capacity for AI projects to help address the shortage of AI chips. Voltage Park aims to provide long and shortterm, lowcost AI computing to support companies AI initiatives. The organization will set up Nvidia AI chip clusters in Texas, Virginia, and Washington, with plans to fully deploy the 24,000 Nvidia chips by around February. Demand for advanced AI chips from Nvidia has surged as businesses seek the hardware to power their AI applications. Read More..

B2B Tech News | 2 years ago        

Russian Financial Sovereignty Bringing Up A Global Investment Push

Russia is going to make it easier for people and businesses from 25 "friendly" nations to register bank accounts and make deposits by streamlining the

Russia is going to make it easier for people and businesses from 25 "friendly" nations to register bank accounts and make deposits by streamlining the investment process. Enhancing the environment for international companies and entrepreneurs is a component of the governments larger endeavour to attain financial sovereignty, according to Russian Prime Minister Mikhail Mishustin. China, India, Brazil, Saudi Arabia, Turkey, Kazakhstan, and Belarus are among the 25 nations on the list. On the other hand, Russia views as "unfriendly" any country that has backed sanctions imposed by the West in retaliation for its activities in Ukraine. The goal of the action is to foster economic cooperation by luring investment from nations that have good relations with Russia. Read More..

B2B Tech News | 2 years ago        

Panamas Showdown Over First Quantums Mining Deal

On December 17, a referendum will be held in Panama to determine whether to sever ties with First Quantums local division, which is in charge of the C

On December 17, a referendum will be held in Panama to determine whether to sever ties with First Quantums local division, which is in charge of the Cobre Panama copper mine project. Days of protests against the openpit mine and the contract, which required First Quantum to operate the project for at least 20 years in exchange for $375 million annually going to Panama, culminated in the decision. Although President Laurentino Cortizo issued an order denying new mining ventures, others contend that this has no bearing on the First Quantum deal, which was granted. The operation of the mine contributes significantly to First Quantums profits and accounts for about 5% of Panamas total GDP. Read More..

B2B Tech News | 2 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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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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