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Doosan Robotics IPO Shines as Shares Soar Over 100% in Debut

Shares of South Koreas Doosan Robotics, known for robots capable of making coffee and pouring beer, experienced a remarkable debut in the Seoul market

Shares of South Koreas Doosan Robotics, known for robots capable of making coffee and pouring beer, experienced a remarkable debut in the Seoul market, more than doubling from their initial public offering IPO price. The IPO, which raised 421.2 billion won $317 million, marked South Koreas largest this year, with shares priced at 26,000 won each, at the upper end of the investorindicated range. Doosan Robotics shares opened at 59,100 won, surging by 127% from the IPO price, reaching as high as 67,600 won during early trading before closing at 51,400 won. The broader market ended slightly down at 0.1%. Read More..

B2B Tech News | 2 years ago        

Four Taiwanese Firms Under Scrutiny for Huawei Links

The Taiwanese government is looking into four businesses allegedly doing business with Huaweiaffiliated enterprises in China under American sanctions.

The Taiwanese government is looking into four businesses allegedly doing business with Huaweiaffiliated enterprises in China under American sanctions. The investigation will examine whether their actions are consistent with the initial investment approvals, and any infractions might result in fines of up to T$25 million $775,300. Topco Scientific, L&K Engineering, United Integrated Services, and CicaHuntek Chemical Technology Taiwan are among the businesses that deny wrongdoing. They allegedly worked on infrastructure projects for Huaweiaffiliated chip factories. Taiwan aims to enact stronger regulations over "key technologies" following international standards. Although Taiwanese technology companies are active in China, it is illegal to produce sensitive technology there because of security issues and Chinas territorial claims to Taiwan. Read More..

B2B Tech News | 2 years ago        

IMF and World Bank Concerns Emerging Economies Triple Threat Debt, China, Fed

The recent selloff in U.S. Treasury bonds, Chinas economic slowdown, and probable future Federal Reserve rate hikes are just a few problems emerging e

The recent selloff in U.S. Treasury bonds, Chinas economic slowdown, and probable future Federal Reserve rate hikes are just a few problems emerging economies face. Debt restructurings for failing nations may advance, particularly with inperson discussions between creditors and governments. The concern of how Chinas slowing economy may influence other emerging countries globally and the demand for commodities is raised. Uncertainties regarding foreign aid and unpaid debt plague Ukraine. Argentina, Pakistan, and Kenya are the top three nations at risk of defaulting on their sovereign debt. Turkey is attempting to acquire money despite a sudden economic downturn. There is pressure on multilateral development banks to enhance lending for climate change and development. Read More..

B2B Tech News | 2 years ago        

Italys Rising Deficits Could Threaten ECB Bond Support

According to Scope Ratings, Italys rising budget deficits for this year and the following year could prevent it from receiving bond support from the E

According to Scope Ratings, Italys rising budget deficits for this year and the following year could prevent it from receiving bond support from the European Central Bank ECB, harming its credit profile. Italy recently increased its deficit targets while cutting growth forecasts, which caused the yield difference between Italian and German bonds to reach its most prominent position since March—more than 200 basis points. The EUs fiscal standards must be followed for the ECBs Transmission Protection Instrument TPI to be activated. Italy plans to meet the EUs 3% deficit ceiling by 2026 with only a modest debt reduction until then. On December 1, Scope will evaluate Italys debt rating. Read More..

B2B Tech News | 2 years ago        

Iraq Will Say Goodbye to Dollar Cash Transactions in 2024

Iraq will ban cash withdrawals and transactions in dollars as of January 1, 2024, to stop using its hard currency reserves for financial crimes and de

Iraq will ban cash withdrawals and transactions in dollars as of January 1, 2024, to stop using its hard currency reserves for financial crimes and defy American sanctions on Iran. This action aims to stop the 50% of the $10 billion in cash that Iraq buys from the New York Federal Reserve each year that is used illegally. It is part of a larger initiative to lessen the economys reliance on the dollar, which has been favoured due to previous conflicts. In 2024, withdrawals from existing dollar deposits will still be permitted. Still, withdrawals from new deposits will only be permitted in the local currency at the official exchange rate. The Iraqi dinar trades at 1,560, roughly 15% less than the official rate. Read More..

B2B Tech News | 2 years ago        

Tesla Drops EV Prices in the U.S. – Model 3 and Model Y Now Cheaper

Following price cuts on its Model S and Model X, Tesla has lowered the price of its Model 3 and Model Y electric vehicles EVs in the United States by

Following price cuts on its Model S and Model X, Tesla has lowered the price of its Model 3 and Model Y electric vehicles EVs in the United States by 2.7% to 4.2%. The Model 3 is now $1,250 less expensive at $38,990, and the Model Y longrange model is now $2,000 less expensive at $48,490. This action is a part of Teslas plan to combat competition and maintain its competitiveness in the declining EV market. In 2023, prices for the base Model 3 were reduced by 17%, while those for the longrange Model Y were cut by 26%. Tesla has reduced the cost of several more expensive Model Y and Model 3 variations. Read More..

B2B Tech News | 2 years ago        

Metro Banks Shares Plunge 25% Amidst Financial Rescue Talks

As the British lender considered raising £600 million $728 million through debt and equity to strengthen its finances, Metro Banks shares fell more t

As the British lender considered raising £600 million $728 million through debt and equity to strengthen its finances, Metro Banks shares fell more than 25%. Since midFebruary, the bank has lost twothirds of its value, now only worth £87 million. The Prudential Regulation Authority PRA and Financial Conduct Authority FCA of the Bank of England have called Metro Banks chairperson and CEO to an urgent meeting. The bank may raise money by selling more than £100 million shares. Metro Bank asserted that it had met its basic capital requirements. Still, it considered stock and debt issuance, refinancing, and asset sales options. Read More..

B2B Tech News | 2 years ago        

Superdry Shares Surge 18% with Reliance Retails Asian Acquisition

The licences and brand assets of the UKbased Superdry in three Asian countries will be purchased by Reliance Retail, the biggest retailer in India, fo

The licences and brand assets of the UKbased Superdry in three Asian countries will be purchased by Reliance Retail, the biggest retailer in India, for £40 million $48 million. Following the announcement, which revealed plans to use the £28.3 million net proceeds to bolster liquidity and fund its turnaround strategy, Superdrys shares increased by 18%. This agreement spans Sri Lanka, Bangladesh, and India through a joint venture and incorporates Superdrys investments. Mukesh Ambani is the CEO of Reliance Retail, which has more than 18,000 locations and collaborates with several international companies. Firm orders have been a problem for Superdry, but this agreement will help it concentrate on its core markets. 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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