Header-template

 Global News

Subscribe our Newsletter

Subscribe to our mailing list to get the latest updates straight in your inbox.

BUSINESS NEWS

Gold Soars to 1Week High Amid Middle East Turmoil

Due to the Middle East turmoil and dovish comments from senior U.S. Federal Reserve officials that undermined the dollar and bond yields, gold prices

Due to the Middle East turmoil and dovish comments from senior U.S. Federal Reserve officials that undermined the dollar and bond yields, gold prices reached a oneweek high. The price of spot gold increased by 0.2% to $1,864.39 an ounce, marking its highest level since September 29. Military conflict in the Middle East increased demand for safehaven assets like gold and stoked worries about the oil supply. Investor turbulence increased due to the debate ahead of the corporate earnings season and significant U.S. inflation data. The comments made by Fed officials supported gold as a safehaven investment by implying lower rate increases. However, if interest rates climb, it loses some of its attraction. Read More..

B2B Tech News | 2 years ago        

Kaisa Groups Debt Crisis Creditors Facing Less Than 5% Recovery

Chinese real estate developer Kaisa Group, facing a windingup suit due to the nonpayment of onshore bonds, has disclosed that if the business is liqui

Chinese real estate developer Kaisa Group, facing a windingup suit due to the nonpayment of onshore bonds, has disclosed that if the business is liquidated, creditors will only receive less than 5% of their investments. The economy of China is under pressure as several Chinese developers struggle with debt difficulties, with Kaisa being one of the first to fail. Even though Kaisas offshore debt default occurred almost two years ago, the company must disclose a restructuring strategy. The business has asked for the petition to be dismissed, claiming that mainland Chinese law should apply. Kaisa has $31.91 billion in total liabilities and $12 billion in offshore debt. Read More..

B2B Tech News | 2 years ago        

Chinas Largest Developer, Country Garden, Faces Offshore Debt Dilemma

The largest private property developer in China, Country Garden Holdings, has expressed concerns about being able to make the offshore payment commitm

The largest private property developer in China, Country Garden Holdings, has expressed concerns about being able to make the offshore payment commitments on its $5.81 billion in nonyuan loans and $10.96 billion in offshore bonds. The company highlighted continuous pressure on its liquidity position and uncertainty surrounding asset disposal. Since a liquidity crisis started in 2021, almost 40% of Chinese house sales companies—mostly private property developers—have missed loan payments. Country Garden has hired advisors to evaluate its financial structure and liquidity position. While struggling financially, it recently received clearance from onshore bondholders to extend nine bonds totalling 14.7 billion yuan. Read More..

B2B Tech News | 2 years ago        

UAEs ADNOC Paves Way to Global Expansion for Economic Diversification

By expanding internationally and looking for new revenue sources, the United Arab Emirates UAE is transforming its stateowned Abu Dhabi National Oil C

By expanding internationally and looking for new revenue sources, the United Arab Emirates UAE is transforming its stateowned Abu Dhabi National Oil Company ADNOC into a global oil major. This action supports the UAEs mission to diversify its economy and lessen reliance on fossil fuels. ADNOC continuously looks for potential in liquefied natural gas LNG, gas, petrochemicals, and renewable energy. Additionally, the company plans to invest in a natural gas project in Mozambique and buy LNG assets in Africa. As they look to monetize reserves and explore prospects outside of their boundaries, Saudi Arabia, Qatar, and ADNOCs stateowned energy giants are transforming akin to those of ADNOC. ADNOC has strategically hired new employees to support this transformation, growing its workforce by 13% this year. Read More..

B2B Tech News | 2 years ago        

Global Debt Crisis Threatens Poorest Nations Survival

According to research by Oxfam International, several of the worlds poorest countries are on the verge of default due to significant budget cuts that

According to research by Oxfam International, several of the worlds poorest countries are on the verge of default due to significant budget cuts that will total more than $220 billion over the next five years. Until 2029, interest and debt repayments will cost low and lowermiddleincome nations nearly $500 million daily. Due to the postCOVID19 economic shocks, inflation, and rising global interest rates, many developing countries are experiencing debt difficulties. Oxfam urges the IMF and World Bank to solve the crisis by emphasising the development of a fairer system rather than stressing austerity measures and increased borrowing. During facetoface discussions for defaulted countries like Zambia and Ghana, some advancement in debt restructuring is anticipated. Read More..

B2B Tech News | 2 years ago        

Ghana Strikes $600 Million IMF Deal, Boosting Economic Outlook

The second installment of Ghanas $3 billion credit agreement, totaling $600 million, has been agreed upon with the International Monetary Fund IMF. Gh

The second installment of Ghanas $3 billion credit agreement, totaling $600 million, has been agreed upon with the International Monetary Fund IMF. Ghanas economic policy changes, debt restructuring, and reforms received acclaim from the IMF, which also noted successful results. Ghana will have received $1.2 billion since May once the IMF board confirms the missions review. The nation is experiencing economic difficulties ahead of the approaching election, and demonstrators from the opposition are blaming the central banks actions for the situation. Ghana, which produces cocoa, gold, oil, and gas, has experienced economic difficulties made worse by Covid19 and the RussiaUkraine crisis. Read More..

B2B Tech News | 2 years ago        

GMs $200 Million Third Quarter Blow from UAW Strikes

General Motors GM has secured a fresh $6 billion line of credit in anticipation of potential strikes by the United Auto Workers UAW union, which have

General Motors GM has secured a fresh $6 billion line of credit in anticipation of potential strikes by the United Auto Workers UAW union, which have already cost the automaker $200 million in the third quarter. This expense resulted from lost production due to targeted strikes initiated by the UAW, beginning with a strike at GMs Missouri plant in September and subsequently expanding to other facilities, including a Michigan crossover plant. The strikes have also led to the idling of GMs Fairfax Assembly Plant in Kansas, affecting around 2,000 employees. GMs CEO, Mary Barra, and Ford CEO, Jim Farley, have criticized UAW President Shawn Fain and the unions strike approach, alleging a lack of genuine interest in reaching agreements for 146,000 workers across GM, Ford, and Stellantis. Read More..

B2B Tech News | 2 years ago        

Central Bank of Sri Lanka Slashes Rates as IMF Bailout Stalls

Amid a financial crisis in Sri Lanka, the countrys central bank has made a significant move by lowering interest rates by 100 basis points. This decis

Amid a financial crisis in Sri Lanka, the countrys central bank has made a significant move by lowering interest rates by 100 basis points. This decision comes as the government faces challenges in meeting loan conditions, causing a delay in receiving the second portion of a $2.9 billion fouryear bailout from the International Monetary Fund IMF. The Central Bank of Sri Lanka CBSL reduced the benchmark lending rate to 11 percent due to a substantial drop in yearonyear inflation, which plummeted to 1.3 percent from a staggering 70 percent the previous year. The governments inability to meet revenue targets and the absence of a finalized debt restructuring plan have contributed to the delay in IMF funds. The CBSL had previously raised interest rates significantly in response to the economic crisis, with lending rates peaking at 16.5 percent in March before gradually decreasing. Read More..

B2B Tech News | 2 years ago        



Get The News to use newsletter to
stay on top of shifting Technology News Updates!!

...

Get Latest News To Your Inbox, Subscribe To Our Newsletter.


By signing up, you agree to our Privacy Notice and European users agree to the data transfer policy.



Take a break, Play Suduko!



Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
   13829   

2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
   11230   

3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
   11549   

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.
   11386   

5.  Approximately 8 billion gadgets connect on the internet every day.
   14436   



Sharpen your mind and memory!

Play Mind Game



Your Opinion Matters, Vote Now!!

Where do you go to learn more about whats happening in your industry? Check all that apply.