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U.S.Taiwan Trade Agreement Set to Take Effect, Strengthening Economic Ties

In a significant step towards deepening economic connections between the two countries, the first agreement under the U.S.Taiwan Initiative on 21st Ce

In a significant step towards deepening economic connections between the two countries, the first agreement under the U.S.Taiwan Initiative on 21st Century Trade will go into effect on Tuesday. This project intends to promote closer cooperation in several sectors, such as anticorruption, customs administration, and trade facilitation for small and mediumsized businesses, in the wake of Taiwans exclusion from the U.S.led IndoPacific Economic Framework in 2022. U.S. Trade Representative Katherine Tai stressed how crucial this deal is to strengthening the economic ties between the United States and Taiwan. The strategic significance of strengthening alliances in the face of a changing global environment was emphasised by Taiwans Office of Trade Negotiations, which shared this sentiment. Current negotiations for a second accord centre on agriculture, labour, and environmental concerns, with hopes of a future free trade agreement. Read More..

B2B Tech News | 4 months ago        

India’s Foreign Minister Addresses U.S. Concerns Over BRICS Currency Intentions

Indias foreign minister, Subrahmanyam Jaishankar, said at a gathering in Doha, Qatar, that the BRICS nations—China, Russia, and India—have no plan

Indias foreign minister, Subrahmanyam Jaishankar, said at a gathering in Doha, Qatar, that the BRICS nations—China, Russia, and India—have no plans to weaken the value of the US dollar. His statements followed US Presidentelect Donald Trumps recent call on the BRICS countries to pledge not to develop or endorse a new currency that would displace the dollar. Trump threatened to impose 100% tariffs on several nations if they did not comply. Jaishankar stressed that rather than opposing the dollars hegemony, BRICS aims to strengthen memberstate collaboration. This declaration reaffirms the groups resolve to promote trade relations without openly opposing the US currency in the international financial system. Read More..

B2B Tech News | 4 months ago        

Financial Times Reports OpenAI Considers Lifting AGI Access Restrictions for Microsoft

The Financial Times reports that OpenAI is negotiating to get a provision that would prevent Microsoft from using its sophisticated models after it re

The Financial Times reports that OpenAI is negotiating to get a provision that would prevent Microsoft from using its sophisticated models after it reaches "artificial general intelligence" AGI removed. If AGI—defined as a system that outperforms humans in most economically valuable tasks—develops, Microsoft would no longer have access to OpenAIs technology. To facilitate Microsofts ongoing funding and access after AGI, OpenAI is investigating this shift. The purpose of the clause was to safeguard the technology against abuse and guarantee that ownership would remain with the nonprofit board of OpenAI. No final decision has been taken discussions are still ongoing. By October, OpenAI had raised $6.6 billion, valued at $157 billion. Read More..

B2B Tech News | 4 months ago        

Randgold Resources Faces Legal Battle as Hannam Alleges Breach of Advisory Agreement

Due to his involvement in Randgold Resources acquisition by Barrick Gold, dealmaker Ian Hannam is suing the company for up to $18 million. Known as th

Due to his involvement in Randgold Resources acquisition by Barrick Gold, dealmaker Ian Hannam is suing the company for up to $18 million. Known as the "king of mining" for his ability to successfully broker significant transactions, Hannam claimed in a London court that Randgold had broken their agreement. Before Barricks $18 billion acquisition in 2018, his consultancy firm, Hannam & Partners, claims a deal was reached that guaranteed him at least $10 million for his services, rising in tandem with the deals value. Randgold responds that it paid its financial advisors $18 million, the same amount as no formal agreement. A decision in the ongoing trial is anticipated next week. Read More..

B2B Tech News | 4 months ago        

Norway Plans to Ratify IndiaEFTA Free Trade Agreement by 2025

Norways business and industry ministry will approve the free trade agreement between India and the European Free Trade Association EFTA next year. For

Norways business and industry ministry will approve the free trade agreement between India and the European Free Trade Association EFTA next year. For the Trade and Economic Partnership Agreement TEPA, which was signed on 10 March 2023, to be implemented, all four EFTA nations must ratify it. Speaking at the IndiaNorway Business Forum in Mumbai, Norways ambassador to India, MayElin Stener, praised TEPA as a significant step towards boosting bilateral investment and commerce. The focus areas are the marine industries, climate sustainability, and renewable energy. In addition to promising to address the regulatory issues brought up by Norwegian businesses, Commerce Minister Piyush Goyal suggested a startup bridge between Norway and India, which might be launched at the 2025 IndoNordic Summit. Total bilateral trade is at $1.1 billion. Read More..

B2B Tech News | 4 months ago        

Keir Starmer Set to Begin First Gulf Visit as UK Prime Minister on Sunday

Sunday marks the start of British Prime Minister Keir Starmers first multiday trip to the Gulf since assuming office, which aims to deepen defence and

Sunday marks the start of British Prime Minister Keir Starmers first multiday trip to the Gulf since assuming office, which aims to deepen defence and economic relations with Saudi Arabia and the United Arab Emirates. On his agenda are talks with Saudi Crown Prince Mohammed bin Salman and UAE President Sheikh Mohamed bin Zayed Al Nahyan about regional stability and the pressing need for a ceasefire in Gaza. Starmer wants to speed up a Gulf Cooperation Council Free Commerce Agreement and attract Gulf investments to assist in repairing Britains infrastructure, which could significantly increase commerce. In the first bilateral visit by a British leader to Cyprus in more than half a century, he will meet President Nikos Christodoulides in Cyprus after the Gulf visit. Read More..

B2B Tech News | 4 months ago        

India Urges FastTracked WTO Negotiations on Special Safeguard Mechanism for Agriculture

World Trade Organisation WTO negotiations on the Special Safeguard Mechanism SSM, which permits developing nations to temporarily increase agricultura

World Trade Organisation WTO negotiations on the Special Safeguard Mechanism SSM, which permits developing nations to temporarily increase agricultural import duties in reaction to import spikes or price declines, have been accelerated by India. India stressed the importance of addressing unsolved issues such as public stockholding and cotton as standalone concerns during a 4 December Committee on Agriculture meeting in Geneva. The nation reiterated the necessity for consensusbased procedures about Guyanas new proposal for progressing agricultural talks ahead of the 14th Ministerial Conference in Cameroon in 2026. It urged for straightforward and equitable norms for SSM negotiations. India also promoted textbased discussions to establish a longterm solution for public food stockholding within the WTO framework. Read More..

B2B Tech News | 4 months ago        

AfDB and CDP’s CoFinancing Deal Aims to Accelerate Sustainable Growth in Africa

The African Development Bank AfDB and Italian state lender CDP have inked a 400 million euro $420 million cofinance deal to improve technical assistan

The African Development Bank AfDB and Italian state lender CDP have inked a 400 million euro $420 million cofinance deal to improve technical assistance, education, sustainable agriculture, and climate finance. As part of Italys larger Mattei plan, which intends to spend 6 billion euros in African development, the agreement was finalised during the AfDBs Africa Investment Forum in Rabat. Hassatou Diop NSele, the Vice President for Finance at the African Development Bank, stressed the significance of leveraging local funds to expedite equality and mobilise money within Africa. Paolo Lombardo, head of CDPs international cooperation and development finance, emphasised the initiatives objective of promoting sustainable growth throughout the continent. Read More..

B2B Tech News | 4 months ago        



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