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Kenya Seeks New IMF Deal Amid Rising Debt Pressures

The ninth review under the current Extended Fund Facility EFF and Extended Credit Facility ECF programs has terminated as a result of Kenyas formal re

The ninth review under the current Extended Fund Facility EFF and Extended Credit Facility ECF programs has terminated as a result of Kenyas formal request to the International Monetary Fund IMF for a new financing program. The current $3.6 billion agreement, which was started in April 2021, was scheduled to expire the following month. However, in order to preserve economic stability, the Kenyan government is looking for ongoing IMF assistance because of rising debtservicing costs brought on by massive borrowing and the cancellation of planned tax increases after last years protests. The request has been accepted by the IMF, which will work with Kenyan officials to create a new scheme. Read More..

B2B Tech News | 10 days ago        

Deutsche Bank Grants DWS Exclusive Access to Private Credit Deals

To give it first dibs on private credit agreements, Deutsche Bank has teamed up with its asset management division, DWS. By enabling it to examine di

To give it first dibs on private credit agreements, Deutsche Bank has teamed up with its asset management division, DWS. By enabling it to examine direct lending, assetbased financing, and other private credit alternatives obtained by Deutsche Bank, this action seeks to enhance DWSs alternative investment offers. With big nonbank lenders like Apollo, KKR, and Blackstone controlling the market, the private lending industry is expanding quickly. Banks like Citi have also partnered with private credit managers to compete. Patrick Connors of Deutsche Bank will join DWS as Global Head of Private Credit as part of the project. With €110 billion in alternative assets under management, DWS aims to increase its presence in this profitable and cutthroat industry. Read More..

B2B Tech News | 10 days ago        

Alphabet Acquires Cybersecurity Firm Wiz for $32B in Biggest Deal Yet

Alphabet, the parent company of Google, has agreed to pay $32 billion in cash to acquire cybersecurity startup Wiz, making this the companys largest a

Alphabet, the parent company of Google, has agreed to pay $32 billion in cash to acquire cybersecurity startup Wiz, making this the companys largest acquisition to date. By making this calculated step, Google hopes to strengthen its cloud security products and become more competitive with rivals like Amazon and Microsoft. Founded in 2020, Wiz specialises in identifying security threats in cloud storage and has grown quickly, attaining a $30 billion valuation. Early investors are anticipated to receive large returns from the deal, with companies such as Sequoia Capital and Index Ventures standing to benefit greatly. The transaction highlights the growing significance of cybersecurity in the changing digital landscape, even in the face of possible regulatory scrutiny. Read More..

B2B Tech News | 10 days ago        

BOJ Holds Interest Rate at 0.5%, Citing Global Trade Uncertainties

In line with market forecasts, the Bank of Japan BOJ has kept its shortterm interest rate at 0.5%. This choice is a reflection of worries about possib

In line with market forecasts, the Bank of Japan BOJ has kept its shortterm interest rate at 0.5%. This choice is a reflection of worries about possible global economic slowdowns brought on by trade policies implemented by US President Donald Trump, which could jeopardise Japans exportbased economy. Due to uncertainty in the dynamics of global trade, policymakers remain cautious despite progress towards the BOJs 2% inflation target. The BOJ emphasised that although external trade policies further muddy Japans economic prospects, rising rice prices are also fuelling domestic inflation. Depending on how the U.S. tariff actions affect the state of the world economy, analysts predict that the BOJ may consider raising interest rates to 0.75% by the third quarter of 2025. Read More..

B2B Tech News | 10 days ago        

EU Announces €4.7 Billion Investment in South Africa’s Green Transition

With an emphasis on vaccine production, improving digital and physical connectivity, and a just energy transition, the European Union EU has announced

With an emphasis on vaccine production, improving digital and physical connectivity, and a just energy transition, the European Union EU has announced a €4.7 billion investment package for South Africa. This project, a component of the EUs Global Gateway policy, supports South Africas infrastructure and sustainable development. A sizeable amount—€4.4 billion—is set aside to aid the nations transition to cleaner energy sources. The declaration came during talks between South African President Cyril Ramaphosa, European Council President António Costa, and European Commission President Ursula von der Leyen. The EUs dedication to advancing economic growth, bolstering its alliance with South Africa, and tackling global issues like climate change is demonstrated by this investment. Read More..

B2B Tech News | 10 days ago        

Allianz Exits Bajaj Allianz JV, Sells 26% Stake for $2.84 Billion

For about €2.6 billion $2.84 billion, Allianz SE has agreed to sell the Bajaj Group its 26% shares in two joint ventures with Indias Bajaj Finserv B

For about €2.6 billion $2.84 billion, Allianz SE has agreed to sell the Bajaj Group its 26% shares in two joint ventures with Indias Bajaj Finserv Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. With this deal, a collaboration that lasted more than 20 years ended. Allianz highlights that India is still a significant growth market despite the divestment and says it plans to look into fresh prospects there. Allianz had previously made unsuccessful attempts to raise its ownership of these joint ventures. According to reports, Jio Financial Services, a division of the Reliance Group under Mukesh Ambani, is a possible partner for Allianz. Read More..

B2B Tech News | 10 days ago        

Bank of Korea Rejects Bitcoin as Reserve Asset, Citing Volatility Risks

Bitcoins excessive volatility and inability to satisfy the IMFs requirements for foreign exchange reserves have led the Bank of Korea BoK, South Korea

Bitcoins excessive volatility and inability to satisfy the IMFs requirements for foreign exchange reserves have led the Bank of Korea BoK, South Koreas central bank, to reject it as a reserve asset. Bitcoin lacks the reserve assets the IMF needs to preserve liquidity, a steady market value, and a trustworthy credit rating. The BoK cautioned that cryptocurrency market volatility could result in increased transaction costs and financial risks. This aligns with other central banks that have rejected Bitcoin as a reserve, such as the one in Switzerland. To maintain economic stability in the nations changing digital asset landscape, the BoK is concentrating on creating regulatory standards for corporate cryptocurrency participation rather than adding Bitcoin to its reserves. Read More..

B2B Tech News | 10 days ago        

ANZ Bank Predicts Gold to Hit $3,200/oz in Six Months Amid Market Uncertainty

The gold price is expected to hit $3,100 per ounce in three months and $3,200 per ounce in six months, according to ANZ Banks updated projection. The

The gold price is expected to hit $3,100 per ounce in three months and $3,200 per ounce in six months, according to ANZ Banks updated projection. The economic uncertainty associated with U.S. President Donald Trumps tariff policy caused gold to soar beyond $3,000 an ounce. Geopolitical concerns, loosening monetary policy, and robust central bank purchases are all blamed for the increase. Gold has risen more than 14% this year, reaching 14time highs. In addition to reducing liquidity in the London spot gold market, import duties have caused spreads on Comex futures to widen. Silver prices are expected to fluctuate between $34 and $36 an ounce, with demand from investors having a significant impact. Read More..

B2B Tech News | 10 days ago        



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