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BUSINESS NEWS

JD Indonesia is cutting 200 employees amid exit rumors

200 employees, or 30% of the workforce at JD.id, a joint venture between JD.com and Provident Capital, a key player in Chinese ecommerce. The company

200 employees, or 30% of the workforce at JD.id, a joint venture between JD.com and Provident Capital, a key player in Chinese ecommerce. The companys spokesman told Tech in Asia that the decision was made in response to the challenges of the quickly changing business environment.  The company promises that severance pay would be provided to affected employees in accordance with Indonesian laws and regulations. JD.com apparently wanted to leave Thailand and Indonesia in the past.  JD.id has been pitted against ecommerce behemoths like Shopee, Tokopedia, and Lazada in Indonesia. Read More..

B2B Tech News | 3 months ago        

DS Smith closes factory in Kent as it expands into Europe

The biggest packaging manufacturer in the UK has announced that it will shut down its Kent facility and increase production elsewhere in Europe, sayin

The biggest packaging manufacturer in the UK has announced that it will shut down its Kent facility and increase production elsewhere in Europe, saying that the anticipated repeal of EU regulations could worsen the countrys economic woes. Miles Roberts, CEO of DS Smith, stated that the companys international operations could no longer be subsidised by those in its home country. He also stated that it would be extremely helpful for manufacturers if the government aligned regulations with EU regulations wherever possible to promote trade. In light of the governments plans to examine or cancel up to 4,000 pieces of legislation that are drawn from the EU, his comments add to the cautions issued by UK businesses regarding a deeper break from the bloc after Brexit. Read More..

B2B Tech News | 3 months ago        

Lendingasaservice fintech AltScore closes $3.5 million initial round

In a seed fundraising round led by Far Out VC and including Caffeinated Capital, Techstars, Unpopular Ventures, Kamay Ventures, BuenTrip Ventures, Lor

In a seed fundraising round led by Far Out VC and including Caffeinated Capital, Techstars, Unpopular Ventures, Kamay Ventures, BuenTrip Ventures, Lorimer Ventures, and CompuSoluciones Ventures, the Ecuadorian fintech AltScore raised $3.5 million.  A B2B embedded credit infrastructure platform called AltScore enables any Latin American corporation to incorporate and implement credit solutions. Innovative underwriting, alternative data and scores, and additional lendingasaservice modules are all available. Businesses can improve customer retention and LTV by using AltScore. AltScore relocated its headquarters to Mexico, where it would focus its business. Customers of the business are located throughout South, Central, and North America. Nearly the past year, AltScore saw a 34% CMGR and over 10x rise in revenue YoY. Read More..

B2B Tech News | 3 months ago        

Korean companies are planning a more than $4 billion battery factory in Georgia

In order to develop a new plant northwest of Atlanta that would provide electric batteries for Hyundai and Kia electric vehicles built in the United S

In order to develop a new plant northwest of Atlanta that would provide electric batteries for Hyundai and Kia electric vehicles built in the United States, Hyundai Motor Group and a South Korean battery manufacturer have announced a joint investment of $4 billion to $5 billion in Georgia. The news was announced on Thursday by Hyundai and SK On, a branch of the SK Group in Korea. The plant, which would be situated just west of Cartersville, would start producing in 2025 and have a 3,500person workforce. As the auto industry transitions to electric vehicles, another electric battery plant is being built. Read More..

B2B Tech News | 3 months ago        

Sen, Londonbased creators of UHD planetary imagery streams of Earth, raises £2m

The first satellite to offer a highdefinition video feed of our beloved planet departed Cape Canaverals SpaceX commercial launch facility in January.

The first satellite to offer a highdefinition video feed of our beloved planet departed Cape Canaverals SpaceX commercial launch facility in January. Sen, a Londonbased business, celebrated the achievement using the cameras on the ETVAI spacecraft, the first satellite in its constellation project, which was launched on a SpaceX rideshare about 11 months ago. The technology is anticipated to empower humanitarian relief workers and enable them to lead responses to natural disasters on a truly global scale. A total of 100 satellites are envisaged. There would be four cameras on each satellite, calibrated with different spatial resolutions to cover continents, oceans, regions, and cities. Read More..

B2B Tech News | 3 months ago        

Vehicle financing startup Moove raises $30 million in debut sukuk

Moove, a Nigerian company that provides revenuebased vehicle finance, announced on Thursday that it is raising $30 million in a private placement Isla

Moove, a Nigerian company that provides revenuebased vehicle finance, announced on Thursday that it is raising $30 million in a private placement Islamic bond launch. Moove, which began in India and London this year, stated that it wants at least 60% of the vehicles it loans to be electric. Moove predicts that this fleet of EVs would contribute to a reduction of over 5,000 metric tonnes of carbon dioxide emissions each year, helping cities like Dubai meet their ambitious Net Zero ambitions, Ladi Delano, its cofounder and cochief executive, said in a statement. Read More..

B2B Tech News | 3 months ago        

60,000 Australian crypto accounts in limbo on two admin exchanges

With the demise of two exchanges, Brisbanebased Digital Surge and the Australian division of Sam Bankmanbankrupt Frieds behemoth, 60,000 Australian cl

With the demise of two exchanges, Brisbanebased Digital Surge and the Australian division of Sam Bankmanbankrupt Frieds behemoth, 60,000 Australian clients are now impacted by the crypto crunch, which has continued to have a negative impact on enterprises in the industry after the collapse of FTX. The voluntary administrators of FTX Australia Pty Ltd and FTX Express Pty Ltd stated in an update today that obtaining the information required to identify the specific positions of affected clients was their top priority. Read More..

B2B Tech News | 3 months ago        

South Korean gaming giant WeMade is looking to buy back tokens after delisting Saga

WeMade, a South Korean video game juggernaut, founded the Web3 gaming network WeMix, which recently revealed plans to buy back and burn $10 million wo

WeMade, a South Korean video game juggernaut, founded the Web3 gaming network WeMix, which recently revealed plans to buy back and burn $10 million worth of WeMix and WeMix Classic tokens. The move was made in response to the delisting of the token from four South Korean cryptocurrency exchanges, Upbit, Bithumb, Coinone, and Korbit, as a result of a disparity between the number of tokens in circulation and what was stated by WeMix. To maintain token pricing, tokens obtained through the buyback procedure will be moved to a dead wallet. According to data from CoinMarketCap, the price of WeMix fell by 80% from roughly US$1.50 before the delisting news to US$0.3 right now. Read More..

B2B Tech News | 3 months ago        



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