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Tencent shuts down rumors of a sale, citing healthy cash flow

After Tencents stock fell to its lowest level since 2018, The Wall Street Journal reported that the company was looking to sell stakes in DiDi Globa

After Tencents stock fell to its lowest level since 2018, The Wall Street Journal reported that the company was looking to sell stakes in DiDi Global, Meituan, and KE Holdings. According to a Tencent spokesperson, given its current cash flow, the company could repurchase its shares without selling its stake in portfolio companies. Regardless, Tencent appears to be cutting back—the first quarter saw 97 fewer investments and acquisitions than the same period the previous year, while its headcount shrank by 5,500 in the second quarter. This year, the tech titan also repurchased $2.3 billion in stock. Read More..

B2B Tech News | 2 years ago        

Chinese companies turn to Mexico amid US tariffs

Global supply lines were very immediately disrupted by the COVID19 epidemic, which also highlighted the benefits of more efficient logistics setups. F

Global supply lines were very immediately disrupted by the COVID19 epidemic, which also highlighted the benefits of more efficient logistics setups. For many American businesses, that has meant moving manufacturing operations from countries with lower wages back to the United States. However, finding a way to move operations closer to their end consumers is necessary for Chinese firms who wish to maintain a presence in the North American market. One of the few countries whose items are exempt from tariffs imposed on Chinesemade goods is Mexico. Read More..

B2B Tech News | 2 years ago        

Mining startups share $21 million

The Clean Energy Finance Corporation CEFC has announced grants of up to $21 million to Australian companies to develop and commercialise new methods t

The Clean Energy Finance Corporation CEFC has announced grants of up to $21 million to Australian companies to develop and commercialise new methods to decarbonize their mines. The institution invests money in mining innovation using Resource Capital Funds, a private equity firm. Australias Green Bank has backed Pilbara Minerals worldclass Pilgangoora lithium project and Western Australian technology startup Novalith. CEFC has also invested in 3ME Technology, an Australian battery technology manufacturer, to fund a zeroemission hydrogen electric truck developed by Queenslands Ark Energy and help miners replace diesel engines with advanced battery systems . Read More..

B2B Tech News | 2 years ago        

Chinese electric car maker Leapmotor is holding a $1 billion IPO in Hong Kong

Zhejiang Leapmotor has set a share price and proposed an initial public offering IPO to investors in Hong Kong. The company plans to offer 130.82 mill

Zhejiang Leapmotor has set a share price and proposed an initial public offering IPO to investors in Hong Kong. The company plans to offer 130.82 million shares at a price of HK$48 to HK$62 each. Five cornerstone investors, including Zhejiang and Jinhua Industrial Funds, will purchase a combined investment worth about $308 million. Leapmotor plans to offer 130.82 million shares at a price of HK$48 to HK$62 each. The IPO comes at a time when market sentiment is easing amid growing recession concerns. Read More..

B2B Tech News | 2 years ago        

MasterCard expands customer service center in Egypt

The expansion of Mastercards Advisors Client Services Hub in Egypt has been announced. Mastercard wants to make Egypt a hub for regional finance that

The expansion of Mastercards Advisors Client Services Hub in Egypt has been announced. Mastercard wants to make Egypt a hub for regional finance that brings in important investments. The action highlights Mastercards commitment to putting customers first and its investments in regional talent across all of the areas it serves. In order to make Egypt a regional financial hub that attracts strategic investments, the experienced team facilitates innovative financial and payment solutions encompassing cuttingedge financial trends including BuyNowPayLater BNPL, open banking, cybersecurity, and data monetization. Read More..

B2B Tech News | 2 years ago        

According to an IBM study, supply chain leaders are investing in artificial intelligence and automation to navigate supply chain uncertainty and improve sustainability

Chief Supply Chain Officers CSCOs are navigating significant supply chain challenges brought on by a worldwide COVID19 pandemic, inflation, temperatur

Chief Supply Chain Officers CSCOs are navigating significant supply chain challenges brought on by a worldwide COVID19 pandemic, inflation, temperature change and geopolitical events. a brand new IBM study reveals that theyre increasing investments in automation, AI and intelligent workflows, ecosystems and sustainability. Almost half 47% of surveyed CSCOs said they need introduced new automation technologies within the last two years. Surveyed CSCOs rank sustainability as their third biggest challenge within the next few years. 52% place sustainability at or near the highest of their priority list.50% report that their sustainability investments will accelerate business growth. This group is already outperforming peers on key metrics including reporting 11% higher annual revenue growth. Read More..

B2B Tech News | 2 years ago        

After raising a megafund, billionaire Jean Salatas Baring Private Equity Asia will increase its tech investments

Business Partners Asia BPEA raised $11.2 billion last week in the largest ever equity fundraising by an Asiabased private equity firm. The Hong Kongba

Business Partners Asia BPEA raised $11.2 billion last week in the largest ever equity fundraising by an Asiabased private equity firm. The Hong Kongbased firm agreed to merge with Stockholmlisted EQT in a deal worth $7.5 billion in March. BPEA has grown to become one of Asias largest private equity firms with assets under management of over $22 billion. Salata, who was on the Hong Kong Rich List this year with a net worth of $2.95bn, will join EQTs board of directors and become head of the combined Asia business.Baring Private Equity Asia will be rebranded as BPEA EQT Asia after the sale of its Asia arm to private equity firm EQT Capital Partners. The deal is expected to close in the fourth quarter, and Salata will become the head of the combined business. Read More..

B2B Tech News | 2 years ago        

Remedial Health, a Nigerian startup backed by YC, has raised $4.4 million in seed funding

Nigerian healthtech startup Remedial Health raises $4.4 million equity seed round. YCbacked startup has been growing its reach from six to 16 states w

Nigerian healthtech startup Remedial Health raises $4.4 million equity seed round. YCbacked startup has been growing its reach from six to 16 states within the populous nation. It makes it easy for pharmacies to source pharmaceutical products from major manufacturers and distributors, including GSK, Pfizer and AstraZeneca. Nigerianbased startup, Remedial Health has launched a digital procurement platform that enables pharmacies to manage their operations by facilitating the making and tracking of orders. Its patient medication records PMR system gives pharmacies access to client data making their ordering clearcut and day to day activities more efficient. In Nigeria alone, 500,000 community pharmacies drive over 80% of a 70billiondollar market in annual pharmaceutical sales. Read More..

B2B Tech News | 2 years ago        



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Refresh Your Facts

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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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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