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BUSINESS NEWS

World Bank approves $275 million in development assistance for Zambia

The monies are made accessible by the International Development Association IDA, a World Bank subsidiary. Zambia became the first African country to d

The monies are made accessible by the International Development Association IDA, a World Bank subsidiary. Zambia became the first African country to default on its external debt, which is believed to be $17.3 billion, since the Covid19 pandemic began. Hakainde Hichilemas election to the presidency in 2021 on pledges to root out chronic corruption and resurrect the economy has improved relations with creditors and international donors. Read More..

B2B Tech News | 2 years ago        

NICO Raises $12.5M in Oversubscribed Investment Round

The $12.5 million capital offering by NICO Corporation was successful in an oversubscribed round. A significant movement toward minimally invasive sur

The $12.5 million capital offering by NICO Corporation was successful in an oversubscribed round. A significant movement toward minimally invasive surgery is taking place in the companys target markets for neurosurgery. NICO recorded a 25% increase in revenue in 2021, and this years growth is anticipated to be similar. Read More..

B2B Tech News | 2 years ago        

Credit Suisse wants to cut 9,000 jobs and seek new investments worth billions

In a capital round backed by Saudi Arabia, Credit Suisse intends to eliminate 9,000 jobs while raising billions from investors. The announcement comes

In a capital round backed by Saudi Arabia, Credit Suisse intends to eliminate 9,000 jobs while raising billions from investors. The announcement comes after months of rumours on the magnitude of the change under new manager Ulrich Körner. By the end of 2025, a Swiss bank projects that there will be 43,000 fewer employees overall. The new CS First Boston, according to the Swiss bank, would be more global and broader than typical boutique firms while maintaining a more concentrated strategy. Read More..

B2B Tech News | 2 years ago        

SatixFy completes the business combination with Endurance Acquisition Corp.

The previously announced merger between SatixFy Communications Ltd. and Endurance Acquisition Corp. is now complete. Shares and warrants of the combin

The previously announced merger between SatixFy Communications Ltd. and Endurance Acquisition Corp. is now complete. Shares and warrants of the combined business are anticipated to start trading on the NYSE American tomorrow, Friday, October 28, 2022, under the tickers SATX and WSA. Yoav Leibovitch will serve as Executive Chairman, Richard Davis, the CEO of Endurance, will join SatIXFys Board of Directors, and David Ripstein will remain in his position as the companys CEO. Cantor Fitzgerald served as Endurances capital markets advisor during the acquisition. Read More..

B2B Tech News | 2 years ago        

Japans JERA records a $ 751 million loss in the Freeport LNG fire in fiscal 22/23

The largest power plant in Japan presumptively wont receive enough LNG from the American project between October and March. The majority of the loss a

The largest power plant in Japan presumptively wont receive enough LNG from the American project between October and March. The majority of the loss associated with Freeport LNG is higher alternative procurement costs. According to Yoshida, JERA does not anticipate a significant impact on Malaysia LNGs fuel purchase. Early to midNovember will see a return to partial operation for Freeport LNG, with full operation to follow in the first half of 2019. Petronas has declared force majeure on the supply of gas to Malaysia LNG Dua, one of its liquefaction plants. Read More..

B2B Tech News | 2 years ago        

The new VetPlus office in South America extends reach to four continents

VetPlus, a company that provides animal health services, has a new branch in Argentina. With intentions to establish a presence in Brazil, Peru, Colum

VetPlus, a company that provides animal health services, has a new branch in Argentina. With intentions to establish a presence in Brazil, Peru, Columbia, and Chile, as well as four additional South American nations, it is currently aiming for future expansion. The announcement follows the companys announcement of a 27% increase in turnover and a 58% increase in pretax earnings for the fiscal year ending in June 2021. Read More..

B2B Tech News | 2 years ago        

Software supply company Devtron raises $ 12 million from Insight Partners

Kubernete, an opensource platform for automating the deployment, scalability, and management of software applications, is supported by Devtron as a pl

Kubernete, an opensource platform for automating the deployment, scalability, and management of software applications, is supported by Devtron as a platform for software delivery. Following earlier fundraising from Leo Capital and angel investors, the funding round. The additional funding will be used by Devtron to grow its team, advertise its platform, and enter new markets. Read More..

B2B Tech News | 2 years ago        

Volkswagen says supply shortages will stay here as profits stagnate

Volkswagen VOWG p.DE, whose third quarter profitability were below prepandemic levels, said that supply shortages were the new normal. The automaker i

Volkswagen VOWG p.DE, whose third quarter profitability were below prepandemic levels, said that supply shortages were the new normal. The automaker is stockpiling up on supplies to guard against future shortages during the winter while still having 150,000 unfinished cars on the lot. Volkswagen said that supply constraints had become the new normal as its thirdquarter profitability remained below those of the prepandemic period. Instead of expecting a 5%–10% increase in deliveries this year, the automaker now expects them to be on level with 2021. Read More..

B2B Tech News | 2 years ago        



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