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BUSINESS NEWS

Mozambique Receives $60.7 Million as IMF Concludes Third Review of Loan Program

With the completion of the third assessment of Mozambiques threeyear loan programme, the International Monetary Fund IMF has made it possible for Mapu

With the completion of the third assessment of Mozambiques threeyear loan programme, the International Monetary Fund IMF has made it possible for Maputo to receive an immediate payment of almost $60.7 million. Currently, around $273 million has been disbursed under the $456 million Extended Credit Facility programme, which was approved in 2022. The IMF observed that Mozambique has made acceptable progress in lowering inflationary pressures and quickening the countrys economic recovery. Supporting economic recovery, lowering public debt, addressing financial vulnerabilities, and facilitating public investments in infrastructure, human capital, and climate adaptation are the main objectives of the threeyear agreement. Read More..

B2B Tech News | 3 months ago        

Indias DeepSea Oil Project Off Kakinada Coast Commences Production

The first oil was produced from a deepsea project on 7 January in the Krishna Godavari Basin, 30 kilometres off the coast of Kakinada, according to In

The first oil was produced from a deepsea project on 7 January in the Krishna Godavari Basin, 30 kilometres off the coast of Kakinada, according to Indias Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri. The COVID19 epidemic caused delays for the project, which was started in 2016–17 and is run by the Oil and Natural Gas Corporation ONGC. Four of the 26 wells are now producing, according to Puri, and by May or June, the project hopes to generate 45,000 barrels per day or 7% of Indias total production of petrol and crude oil. Read More..

B2B Tech News | 3 months ago        

Grifols Shares Plunge 30% as Gotham City Questions Accounting Practices

The Spanish pharmaceutical Grifolss market value dropped by roughly $3 billion as a result of a 30% decline in shares following questions raised by he

The Spanish pharmaceutical Grifolss market value dropped by roughly $3 billion as a result of a 30% decline in shares following questions raised by hedge fund Gotham City Research regarding the companys accounting. When Gotham questioned Grifolss stated debt, earnings, and leverage ratio, Grifols refuted any wrongdoing and labelled the report as "speculation" and "false information." To allay investor fears, the business intends to make a phone call and issue a fresh statement to the stock market regulator. Following a 42% decline at the opening of the market, Grifols shares fell 26% in late afternoon trading in Madrid and early trading on Nasdaq. Read More..

B2B Tech News | 3 months ago        

Hewlett Packard Enterprise Boosts AI Ambitions with $14 Billion Juniper Networks Acquisition

With a $14 billion allcash agreement, Hewlett Packard Enterprise HPE is scheduled to purchase Juniper Networks, a manufacturer of networking hardware.

With a $14 billion allcash agreement, Hewlett Packard Enterprise HPE is scheduled to purchase Juniper Networks, a manufacturer of networking hardware. HPE hopes to expand its networking business and improve its artificial intelligence AI products with this deal. HPE wants to use Junipers expertise in AIenabled enterprise networking operations and network security. Offering shareholders of Juniper $40 a share, the deal offers a 32.4% premium over the stocks Monday closing price. With regulatory clearances pending, the transaction is scheduled to conclude in late 2024 or early 2025 and is anticipated to be financed by $14 billion in term loans. Read More..

B2B Tech News | 3 months ago        

Valeo Inks FourYear Deal with ZutaCore for Innovative Data Center Cooling Systems

Californiabased ZutaCore and car parts producer Valeo have signed a fouryear business deal to supply cuttingedge cooling solutions for data centres. T

Californiabased ZutaCore and car parts producer Valeo have signed a fouryear business deal to supply cuttingedge cooling solutions for data centres. The deals financial details were kept a secret. The two businesses created a waterless liquid cooling system to address emissions and energy consumption issues in the expanding data sector. Reusing part of the heat produced by powerful processors with a 1,500watt or greater capacity can be accomplished by the system in addition to cooling them. In the second quarter of this year, ZutaCore is expected to receive the first components of the cooling system from Valeo. Read More..

B2B Tech News | 3 months ago        

Samsung Expects 35% Drop in Q4 Operating Profit, Falling Below Analyst Forecasts

Samsung Electronics announced fourthquarter operating profit estimated to have dropped by 35% to 2.8 trillion won $2.13 billion, below analysts estima

Samsung Electronics announced fourthquarter operating profit estimated to have dropped by 35% to 2.8 trillion won $2.13 billion, below analysts estimates. Even though memory chip prices were improving, the poor performance was ascribed to continuously low consumer demand across several industry categories. The lowerthanexpected earnings resulted from Samsungs contract manufacturing of chips, mobile processors, television, and home appliance divisions. Profits in the companys mobile division declined due to fewer flagship foldable model shipments. Nonetheless, Samsungs semiconductor business appeared to be rebounding, as seen by higher memory chip sector profits. On January 31, a thorough earnings report is anticipated. Read More..

B2B Tech News | 3 months ago        

Thailands $14.3 Billion Digital Wallet Program Set to Roll Out in May 2024

According to Prime Minister Srettha Thavisin, Thailand will move forward with its proposal to distribute $14.3 billion using a "digital wallet" by May

According to Prime Minister Srettha Thavisin, Thailand will move forward with its proposal to distribute $14.3 billion using a "digital wallet" by May 2024. The initiative, a hallmark of the ruling Pheu Thai partys election campaign, is to provide 10,000 baht about $285 to 50 million Thais for local community spending. The governments economic growth strategy aims to achieve at least 5% yearly growth. Economists and a few previous governors of central banks have criticised the concept, claiming it may be financially unwise and lead to inflation. The governor of the central bank and the prime minister will talk about digital wallets and other issues. Read More..

B2B Tech News | 3 months ago        

Intuit Expands Reach by Integrating TurboTax with Credit Karma and QuickBooks Online

Intuit, the company that makes TurboTax, has incorporated its tax preparation tool into Credit Karma and QuickBooks Online to increase its user base a

Intuit, the company that makes TurboTax, has incorporated its tax preparation tool into Credit Karma and QuickBooks Online to increase its user base and streamline the tax filing process for small companies. This action is a component of Intuits plan to capitalise on its leadership in the United States tax management software industry. Out of the 136 million users of the financial site overall, the connection will enable the 40 million Credit Karma customers who were not using TurboTax to access it. With this transaction, Intuit hopes to combine its solutions for small and midsized businesses with its consumerfocused products, tripling its total addressable market opportunity to $252 billion. Read More..

B2B Tech News | 3 months ago        



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