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BUSINESS NEWS

Jio Financial Services Shares Surge Amid Talks of Potential Paytm Wallet Acquisition

Following rumours that it is in negotiations with Paytm parent firm One 97 Communications to purchase Paytms wallet business potentially, shares of Re

Following rumours that it is in negotiations with Paytm parent firm One 97 Communications to purchase Paytms wallet business potentially, shares of Reliance Industries Jio Financial Services surged up to 14%. Later, Jio Financial clarified that it hasnt been involved in any talks about this. Reportedly, Jio Financial and HDFC Bank are leading candidates to buy Paytms wallet division. Following the Reserve Bank of Indias decision to prohibit Paytm Payments Bank from taking deposits or credits to client accounts, the company is allegedly experiencing an existential crisis. Jio may offer to buy Paytm Payments Bank as part of a rescue package. Read More..

B2B Tech News | 2 months ago        

Jeff Bezos Plans to Sell Up to 50 Million Amazon Shares Over the Next Year

According to a document, Amazon founder Jeff Bezos intends to sell up to 50 million company shares over the upcoming year. The securities are valued a

According to a document, Amazon founder Jeff Bezos intends to sell up to 50 million company shares over the upcoming year. The securities are valued at $8.6 billion at the current share price of $171.8. As per Amazons most recent annual report, the selling plan was accepted on November 8, 2023, subject to particular circumstances. It is anticipated to be completed by January 31, 2025. Bezos, who started Amazon in 1994, became executive chairman after leaving his position as CEO in 2021. With a $185 billion net worth, he is now the third wealthiest individual in the whole globe. Read More..

B2B Tech News | 2 months ago        

Crypto Lender Gemini Seeks Authorization to Monetize Interests in Two Grayscale Ethereum Trusts

Gemini Trust Co., a cryptocurrency exchange, has revealed that Genesis, a crypto lender, has filed a move in the United States Bankruptcy Court reques

Gemini Trust Co., a cryptocurrency exchange, has revealed that Genesis, a crypto lender, has filed a move in the United States Bankruptcy Court requesting permission to sell trust assets and profit from its stakes in two Grayscale Ethereum trusts. Genesis filed the request on Friday, allowing Gemini to sell the initial collateral, which consists of 30,905,782 Grayscale Bitcoin Trust shares. Genesis has asked for the motions February 8 hearing to be expedited. This coincides with Genesis settlement of a lawsuit brought by the US Securities and Exchange Commission on its nowcancelled Gemini Earn financing programme, which was put on hold following the November 2023 cryptocurrency market meltdown. Read More..

B2B Tech News | 2 months ago        

India Targets $1.7 Billion GST Collection from Online Gambling Companies

Revenue Secretary Sanjay Malhotra said India expects to levy online gambling enterprises for Goods and Services tax GST worth up to 140 billion rupees

Revenue Secretary Sanjay Malhotra said India expects to levy online gambling enterprises for Goods and Services tax GST worth up to 140 billion rupees $1.7 billion in the upcoming fiscal year. A $1.5 billion business was impacted in October when the government levied a 28% tax on money collected by online gambling operators for each wager. In the fiscal year that ended on March 31, the move brought in almost 75 billion rupees, as opposed to 16 billion the year before. Malhotra stated that the market has stabilised and that, without necessarily altering tax rates, a review of the tax structure for online gambling companies will be carried out by April. Read More..

B2B Tech News | 2 months ago        

Economic Leadership Indias 7% GDP Growth Leads G20 Economies

During her postbudget news conference, Finance Minister Nirmala Sitharaman emphasized these fundamental tenets Utilizing technology to increase ef

During her postbudget news conference, Finance Minister Nirmala Sitharaman emphasized these fundamental tenets Utilizing technology to increase efficiency. Building infrastructure. Promoting social justice as a means of successful government. India tops the G20 economies with three years of GDP growth at a rate of 7%. Sitharaman emphasized reducing the fiscal deficit, properly managing the economy despite obstacles, and guaranteeing that government capital expenditures—particularly infrastructure—continue. Notwithstanding the turbulence in the Red Sea, the IndiaMiddle EastEuropean Corridor IMEC project will continue. Other important factors include A commitment to fiscal consolidation that exceeds earlier objectives. The withdrawal of outstanding modest direct tax requests. The nonextension of reduced tax rates for new industrial units after March 2024. In addition, the Finance Minister recommended reconsidering the Centers 40% debttoGDP ratio goal, Read More..

B2B Tech News | 2 months ago        

Intel Faces Delay in $20 Billion Ohio Chipmaking Project

According to reports, Intel is postponing the $20 billion chipmaking project in Ohios building schedule because of market difficulties and a sluggish

According to reports, Intel is postponing the $20 billion chipmaking project in Ohios building schedule because of market difficulties and a sluggish distribution of federal grants. Chip manufacture was first scheduled to begin next year, but facilities will be finished by late 2026. A representative for Intel said that the business is dedicated to completing the project even with its revised schedule. Intel has estimated Q1 revenue below market projections due to the uncertain demand for conventional servers and PC processors, which has caused the delay. The demand for Intels core data centre solutions has been hurt by the move in expenditure into AI data servers, which Nvidia and AMD dominate. Read More..

B2B Tech News | 2 months ago        

Atlassian Beats Revenue Expectations with 21% Growth in Q2

The company that makes corporate software, Atlassian, reported revenue for the second quarter of 2021 that was 21% more than projected, coming in at $

The company that makes corporate software, Atlassian, reported revenue for the second quarter of 2021 that was 21% more than projected, coming in at $1.06 billion. The spike aided the impressive success in demand for its artificial intelligence solutions brought on by companies digitising their processes and moving to the cloud. Earnings per share for the corporation in the second quarter were 73 cents, more than the expected 62 cents. With over 300,000 users, Atlassian offers software for project and planning called Jira and content creation tools called Confluence. The business expects sales for the third quarter to be between $1.09 billion and $1.11 billion, more than the $1.07 billion predicted by the market. Read More..

B2B Tech News | 2 months ago        

El Salvador Confirms Bitcoin Will Remain Legal Tender Despite IMFs Request

During President Nayib Bukeles second term, El Salvadors Vice President, Felix Ulloa, stated that Bitcoin would continue to be accepted as legal money

During President Nayib Bukeles second term, El Salvadors Vice President, Felix Ulloa, stated that Bitcoin would continue to be accepted as legal money in the nation. Following a request from the International Monetary Fund IMF that El Salvador "reconsider" the acceptance of Bitcoin during loan talks, this declaration was made. According to Ulloa, the government is confident about its decision, strengthened by the recent approval of U.S.listed ExchangeTraded Funds ETFs that track Bitcoin by the Securities and Exchange Commission SEC. In September 2021, El Salvador became the first nation to recognise Bitcoin as legal money. Read More..

B2B Tech News | 2 months 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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