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Bank of Korea Rejects Bitcoin as Reserve Asset, Citing Volatility Risks

Bitcoins excessive volatility and inability to satisfy the IMFs requirements for foreign exchange reserves have led the Bank of Korea BoK, South Korea

Bitcoins excessive volatility and inability to satisfy the IMFs requirements for foreign exchange reserves have led the Bank of Korea BoK, South Koreas central bank, to reject it as a reserve asset. Bitcoin lacks the reserve assets the IMF needs to preserve liquidity, a steady market value, and a trustworthy credit rating. The BoK cautioned that cryptocurrency market volatility could result in increased transaction costs and financial risks. This aligns with other central banks that have rejected Bitcoin as a reserve, such as the one in Switzerland. To maintain economic stability in the nations changing digital asset landscape, the BoK is concentrating on creating regulatory standards for corporate cryptocurrency participation rather than adding Bitcoin to its reserves. Read More..

B2B Tech News | 3 months ago        

ANZ Bank Predicts Gold to Hit $3,200/oz in Six Months Amid Market Uncertainty

The gold price is expected to hit $3,100 per ounce in three months and $3,200 per ounce in six months, according to ANZ Banks updated projection. The

The gold price is expected to hit $3,100 per ounce in three months and $3,200 per ounce in six months, according to ANZ Banks updated projection. The economic uncertainty associated with U.S. President Donald Trumps tariff policy caused gold to soar beyond $3,000 an ounce. Geopolitical concerns, loosening monetary policy, and robust central bank purchases are all blamed for the increase. Gold has risen more than 14% this year, reaching 14time highs. In addition to reducing liquidity in the London spot gold market, import duties have caused spreads on Comex futures to widen. Silver prices are expected to fluctuate between $34 and $36 an ounce, with demand from investors having a significant impact. Read More..

B2B Tech News | 3 months ago        

Swiss National Bank Reverses Course, Buys $1.36B in Foreign Currencies

Compared to the 132.9 billion Swiss francs sold in 2023, the Swiss National Bank SNB bought 1.2 billion Swiss francs $1.36 billion in foreign currenci

Compared to the 132.9 billion Swiss francs sold in 2023, the Swiss National Bank SNB bought 1.2 billion Swiss francs $1.36 billion in foreign currencies in 2024. This adjustment aligns with the SNBs plan to keep inflation at 1.1% in 2024, within its target range of 02%. As stated in December 2023, the bank stopped selling foreign currency after attaining price stability to fortify the franc and reduce import inflation. On Thursday, the SNB is expected to announce its following monetary policy. Read More..

B2B Tech News | 3 months ago        

SoftBank to Convert Former Sharp Plant into AI Data Center with OpenAI

In partnership with OpenAI, SoftBank intends to convert a former Sharp LCD facility in Sakai, Osaka, into a data centre for artificial intelligence AI

In partnership with OpenAI, SoftBank intends to convert a former Sharp LCD facility in Sakai, Osaka, into a data centre for artificial intelligence AI operations. The Japanese telecom behemoth will purchase the facility and a portion of the property for about 100 billion yen $676 million. With a 150megawatt power capacity, the data centre will be among Japans most significant in 2026. This program seeks to commercialise OpenAIs AI agent model in Japan and provide tailored AI solutions by training the AI agent model on data from client companies. Up to one trillion yen $6.77 billion could be invested. Read More..

B2B Tech News | 3 months ago        

Wipro Announces Major Business Reorganization Effective April 1, 2025

Since 1 April 2025, Wipro has announced a significant restructuring of its international business divisions to meet better changing customer demands a

Since 1 April 2025, Wipro has announced a significant restructuring of its international business divisions to meet better changing customer demands and technology breakthroughs. The company will run four central departments under CEO Srinivas Pallia Engineering, Business Process Services, Consulting, and Technology Services. With Capco functioning autonomously, the Technology Services division will concentrate on artificial intelligence, cloud computing, and data analytics. At the same time, Consulting—headed by former Accenture CEO Amit Kumar—will offer strategic direction. Under the direction of Jasjit Kang, Business Process Services will streamline client operations. Engineering will maintain its current emphasis. Designit will also become part of Technology Services. This reorganisation aims to enhance agility, improve market response, and provide clients with integrated, outcomedriven solutions. Read More..

B2B Tech News | 3 months ago        

India, New Zealand Restart CECA Talks After DecadeLong Pause

The Comprehensive Economic Cooperation Agreement CECA talks between India and New Zealand have resumed after a tenyear break. These negotiations began

The Comprehensive Economic Cooperation Agreement CECA talks between India and New Zealand have resumed after a tenyear break. These negotiations began in April 2010 and came to a standstill in 2015 following nine rounds. The revived talks aim to promote mutual progress and prosperity by increasing trade in investments, goods, and services. During New Zealand Prime Minister Christopher Luxons fourday visit to India, Commerce and Industry Minister Piyush Goyal and Trade and Investment Minister Todd McClay made the announcement. Between April and January 2025, bilateral trade between the two countries exceeded $1 billion, demonstrating consistent growth. With an emphasis on fair results that strengthen supply chain integration and expand market access, the CECA discussions aim to open up new opportunities for companies and consumers. Read More..

B2B Tech News | 3 months ago        

South Korea Seeks U.S. Tariff Exemption Ahead of April 2 Deadline

A formal request has been made by South Korea to be exempted from the impending reciprocal tariffs imposed by the United States on 2 April 2025. Durin

A formal request has been made by South Korea to be exempted from the impending reciprocal tariffs imposed by the United States on 2 April 2025. During their meeting in Washington, Trade Minister Cheong Inkyo spoke against unfairly targeting South Korea to US Trade Representative Jamieson Greer. The request comes after former US President Donald Trump claimed South Korea imposed tariffs four times greater than the US. South Korea rejects this, pointing to the KoreaU.S. Free Trade Agreements 0.79% effective tariff rate. The two countries have decided to continue their talks. To settle the dispute and avoid future trade disputes, South Koreas acting president, Choi Sangmok, has urged authorities to actively engage with their US colleagues. Read More..

B2B Tech News | 3 months ago        

GE Aerospace Secures $5 Billion U.S. Air Force Engine Supply Deal

On 14 March 2025, GE Aerospace said it secured a deal worth up to $5 billion with the U.S. Air Force. F110GE129 engines, which power F15 and F16 fight

On 14 March 2025, GE Aerospace said it secured a deal worth up to $5 billion with the U.S. Air Force. F110GE129 engines, which power F15 and F16 fighter aircraft flown by allies under the Foreign Military Sales FMS program, are being supplied under this indefinite delivery/indefinite quantity IDIQ contract. The agreement permits supplying an arbitrary amount of engines over a predetermined time frame. This agreement highlights GE Aerospaces position in international military cooperation and its dedication to bolstering global defence capabilities. Read More..

B2B Tech News | 3 months ago        



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