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India’s Exports Set to Exceed USD 814 Billion in 2024, Reports GTRI

According to the Global Trade Research Initiative GTRI, Indias total exports of goods and services are expected to approach USD 814 billion in 2024, a

According to the Global Trade Research Initiative GTRI, Indias total exports of goods and services are expected to approach USD 814 billion in 2024, a 5.58% growth from USD 768.5 billion in 2023. It is projected that services exports will rise by 10.31% to USD 372.3 billion, while merchandise exports will reach USD 441.5 billion, a slight increase of 2.34%. According to the research, Indias export market is changing, with traditional industries like textiles and jewels losing ground to expanding shares in electronics and machinery. However, issues persist because of supply chain weaknesses, geopolitical concerns, and slow growth in global trade. Read More..

B2B Tech News | 3 months ago        

Germany Urged to Boost Defense Spending to 3% of GDP by Hensoldt CEO

Oliver Doerre, CEO of the defence electronics company Hensoldt, suggested that Germany raise its defence budget to 3% of its GDP. He stressed in an in

Oliver Doerre, CEO of the defence electronics company Hensoldt, suggested that Germany raise its defence budget to 3% of its GDP. He stressed in an interview the necessity of increased military capabilities, such as more ships, tanks, and aeroplanes, to ward off threats from countries like Russia. Though he supports a constitutional commitment of 3% for at least ten years, Doerre expects the German government to maintain a minimum defence expenditure of 2% of GDP. He underlined worries that by 2028 or 2029, Russia would threaten NATO, emphasising the need for Europe to strengthen its deterrence capabilities. In addition, Hensoldt is investigating defence industry collaborations and participating in the European Sky Shield Initiative. Read More..

B2B Tech News | 3 months ago        

Brazil’s Central Bank Leadership Shift Gabriel Galipolo Takes Office

With the arrival of Gabriel Galipolo as the new head of the central bank, relations between the central bank and President Luiz Inacio Lula da Silva o

With the arrival of Gabriel Galipolo as the new head of the central bank, relations between the central bank and President Luiz Inacio Lula da Silva of Brazil are strengthening. Former Jair Bolsonaro appointee Roberto Campos Neto is replaced with Galipolo, a former deputy finance minister with more leftleaning economic ideas. Though Lula commends Galipolo and pledges fiscal restraint, worries about possible changes in monetary policy persist, particularly given that Lulas appointees will control most of the banks ratesetting committee. Given previous cases where political pressure impacted monetary choices, analysts are concerned that Galipolos strong relationship with Lula may jeopardise the banks independence. The difficulty will be striking a balance between growth and the required monetary discipline as Brazils state debt increases. Read More..

B2B Tech News | 3 months ago        

Brazilian Government Targets Discounts in Railway Contracts with Vale

According to a recent securities filing, Brazilian miner Vale has agreed to pay local authorities up to 11 billion reais $1.78 billion to rework two r

According to a recent securities filing, Brazilian miner Vale has agreed to pay local authorities up to 11 billion reais $1.78 billion to rework two railway concession contracts. The Brazilian government will eliminate discounts given to rail businesses during the previous administration, which enabled some corporations to obtain early contract renewals. The concessions for the Carajas and Vitoria a Minas railways were renegotiated in 2020 with general terms agreed upon by Vale, the government, and the land transport authority ANTT. The concessions were extended through 2057. The deal, awaiting other clearances, will raise Vales railway concession obligations by 1.7 billion reais. Read More..

B2B Tech News | 3 months ago        

Nvidia Acquires Israeli AI Firm Runai for $700 Million Amid Antitrust Scrutiny

Following regulatory agencies antitrust investigations, Nvidia successfully paid $700 million to purchase the Israeli AI company Runai. Concerned abou

Following regulatory agencies antitrust investigations, Nvidia successfully paid $700 million to purchase the Israeli AI company Runai. Concerned about Nvidias hegemony in the graphics processing unit GPU industry, which has an 80% market share, the European Commission first said the merger would need antitrust clearance before granting unconditional permission earlier in December. The Commission determined that the transaction would not present any serious risks despite early concerns that it would hurt competition. The U.S. Department of Justice is also looking into the transaction now. Runai aims to make its software opensource, increasing its availability beyond just Nvidia GPUs to the broader AI ecosystem. Read More..

B2B Tech News | 3 months ago        

Indian Exporters Demand ₹750Crore Marketing Fund to Tap $25Billion U.S. Export Potential

After goods exports experienced a sharp decline, hitting a twoyear low of 4.9% yearoveryear in November, Indian exporters have demanded a ₹750crore

After goods exports experienced a sharp decline, hitting a twoyear low of 4.9% yearoveryear in November, Indian exporters have demanded a ₹750crore marketing budget spread over three years to leverage a $25billion export potential in the U.S. During a prebudget consultation with Finance Minister Nirmala Sitharaman, during which stakeholders from a range of industries, including medical devices, electronics, and textiles, reviewed exportboosting initiatives, these demands were brought up. They suggested a marketing plan with a ₹250 crore yearly budget to take advantage of the potential presented by US tariffs on Chinese imports. Furthermore, exporters pushed for an increase in the current ₹10 crore threshold on interest subvention benefits under the export promotion scheme. Read More..

B2B Tech News | 3 months ago        

U.S. Treasury Secretary Janet Yellen Warns of Possible Debt Default by January 14

The Treasury may have to take "extraordinary measures" to prevent a debt default as early as January 14, U.S. Treasury Secretary Janet Yellen warned l

The Treasury may have to take "extraordinary measures" to prevent a debt default as early as January 14, U.S. Treasury Secretary Janet Yellen warned legislators in a recent letter. Yellen called on Congress to take immediate action to protect the United States creditworthiness. She said a planned redemption for Medicare is expected to reduce the U.S. debt by about $54 billion. Between January 14 and January 23, the Treasury is anticipated to hit the debt ceiling, requiring these unprecedented steps. The budget agreement for 2023 allowed for the continuation of operations by suspending the debt cap until January 1, 2025. Nevertheless, Congress must take action to handle the growing debt, a persistent problem since the first debt ceiling was set in 1939. Read More..

B2B Tech News | 3 months ago        

Chinese President Xi Jinping to Visit Russia in 2025, Confirms Moscow’s Ambassador

Russias ambassador to Beijing, Igor Morgulov, has claimed that Chinese President Xi Jinping is anticipated to travel to Russia in 2025. He reaffirmed

Russias ambassador to Beijing, Igor Morgulov, has claimed that Chinese President Xi Jinping is anticipated to travel to Russia in 2025. He reaffirmed that preparations for bilateral events are underway, highlighting the importance of Xis visit. This comes after higherlevel meetings in the past, such as Putins trips to China in February 2022 and May 2023. China is aware of the current situation in Ukraine and faces comparable difficulties due to pressure from the United States and NATO, Morgulov emphasised. To counter alleged Western "dual deterrence," both countries want to work together. In addition, Russia has backed a peace plan that China and Brazil have put up for Ukraine. Still, Ukraine has rejected it as serving Moscows interests amid unresolved territorial disputes. Read More..

B2B Tech News | 3 months ago        



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