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Bank of Korea Governor Expresses Concerns Over Financial Risks Amid Prolonged Tightening

Governor of the Bank of Korea Rhee Changyong voiced worries about the financial dangers associated with extended monetary tightening, noting a struggl

Governor of the Bank of Korea Rhee Changyong voiced worries about the financial dangers associated with extended monetary tightening, noting a struggling builders recent problems as a "warning sign." As South Korea approaches the conclusion of its attempts to control consumer prices, Rhee emphasises the necessity for the proper policy mix while maintaining that managing inflation remains a top concern. He cited concerns about the quality of commercial real estate loans and the debt restructuring of a midsized local developer as red flags. Following market trepidation over Taeyoung Engineering & Constructions debt restructuring, Rhee promised liquidity support. The central banks projection of a gradual return to its 2% objective by the end of 2024 is supported by South Koreas annual consumer inflation slowed to 3.2% in December. Read More..

B2B Tech News | 3 months ago        

Geely Automobile Aims for 1.9 Million Unit Sales in 2024, Eyes 13% Growth

The Chinese automaker Geely Automobile Holdings Ltd. has set a sales volume target of 1.9 million units for 2024, a 13% increase over its total sales

The Chinese automaker Geely Automobile Holdings Ltd. has set a sales volume target of 1.9 million units for 2024, a 13% increase over its total sales in 2023. Although precise numbers were not given, the business also declared that its sales volume objective for new energy vehicles would be exceeded by over 66% compared to the entire sales volume attained in 2023. Geely sold 1,686,516 cars in 2023, an increase of 18% over the year before. Compared to the same period in 2022, the sales volumes in December 2023 increased by 3%. In terms of sales, Geely is the secondbiggest carmaker in China. Read More..

B2B Tech News | 3 months ago        

Indian SUV Market Thrives in December, While Small Car Sales Face Decline

Sports Utility Vehicles SUVs saw a rise in sales in India in December, but sales of compact cars fell even with steep discounts. Mahindra & Mahindra a

Sports Utility Vehicles SUVs saw a rise in sales in India in December, but sales of compact cars fell even with steep discounts. Mahindra & Mahindra and Maruti Suzuki announced yearoveryear increases in domestic SUV sales of 39% and 24%, respectively. The SUV market grew due to the desire for luxury cars, which catered to a wealthier clientele less impacted by price increases. Maruti increased discounts on its entrylevel automobiles due to insufficient demand, despite automakers usually offering higher discounts at yearend. Sales of compact vehicles, such as the Alto and Baleno, decreased by 29%. Read More..

B2B Tech News | 3 months ago        

Celsius Network Gets Approval to Pivot to Bitcoin Mining from Bankruptcy Plan

Celsius Networks transition to bitcoin mining has been authorised by U.S. Bankruptcy Judge Martin Glenn, enabling the cryptocurrency lender to depart

Celsius Networks transition to bitcoin mining has been authorised by U.S. Bankruptcy Judge Martin Glenn, enabling the cryptocurrency lender to depart from its initial bankruptcy plan. Following the SECs rejection of Celsiuss first proposal to receive fees for crypto transaction validation, a decision was made. With this change, Celsius will no longer work with some outside bidders and will instead hand control over to U.S. Bitcoin Corp, a mining firm. Despite arguments for a second vote from creditors and the DOJs bankruptcy monitor, the court finally authorised the arrangement, with Celsius hoping to emerge from bankruptcy in early 2024. Reactions to the decision have been divided. Read More..

B2B Tech News | 3 months ago        

Arenadata Eyes IPO on Moscow Exchange in 2024 Sources

Three sources in the Russian financial industry SOURCE Reuters claim that Russian data collecting and storage platform developer Arenadata plans to c

Three sources in the Russian financial industry SOURCE Reuters claim that Russian data collecting and storage platform developer Arenadata plans to conduct an Initial Public Offering IPO on the Moscow Exchange in 2024. Later, the business acknowledged that, among other things, it was thinking about going public, although it gave no timeframe. According to Arenadata, "Among the choices is access to the public capital market, which is not eliminated. Furthermore, we think that any quickly growing IT business will naturally reach this level of growth." The change reflects the companys investigation of various business growth and talent acquisition strategies within the IT sector. Read More..

B2B Tech News | 4 months ago        

Kaspi.kz Posts Strong Q3 Results Net Income Surges 40% to $512 Million

The massive fintech company Kaspi.kz, located in Kazakhstan and valued at about $19 billion on the London Stock Exchange, announced impressive Q3 resu

The massive fintech company Kaspi.kz, located in Kazakhstan and valued at about $19 billion on the London Stock Exchange, announced impressive Q3 results and moved closer to a U.S. listing by disclosing its IPO documentation. With sales increasing by over 51% to 508.44 billion Kazakh tenge, the net income for the quarter ended September 30th increased by 40% to 232.49 billion Kazakh tenge $512 million. The firm intends to list in the United States to reach a broader range of investors. It provides fintech, marketplace, and payment solutions. Kaspi.kz, with Morgan Stanley, J.P. Morgan, and Citigroup serving as lead underwriters, applied to list its American Depositary Shares ADS on Nasdaq. Read More..

B2B Tech News | 4 months ago        

Foreign Investment Holds Strong Israeli HighTech Raises $1.5 Billion in Q4 2023

Despite a 15% decline from Q3, Israeli hightech companies raised $1.5 billion in Q4 2023, indicating that international investment was still coming in

Despite a 15% decline from Q3, Israeli hightech companies raised $1.5 billion in Q4 2023, indicating that international investment was still coming in despite the IsraelHamas conflict. A total of 75 agreements totalling $220 million in "seed" finance were disclosed by LeumiTech and the Israel Venture Capital Research Centre. The rise in foreign involvement in Q4 demonstrated the availability of investment funding. Israels economy depends heavily on this industry, which accounts for over half of exports and 12% of jobs. Israeli entrepreneurs raised $7 billion in 2023 instead of $16 billion in 2022, primarily due to investor fears regarding judicial system reforms and the global economic downturn. A hopeful perspective is supported by overseas investors finding Israeli hightech enterprises appealing despite hurdles. Read More..

B2B Tech News | 4 months ago        

Huawei Forecasts Robust Growth Expects Revenue to Surpass $98.5 Billion, Up 9% YoY in 2023

In an internal New Year letter, rotating chairman Ken Hu disclosed that Huawei expects to report sales above 700 billion yuan $98.5 billion for 2023,

In an internal New Year letter, rotating chairman Ken Hu disclosed that Huawei expects to report sales above 700 billion yuan $98.5 billion for 2023, representing a 9% YoY rise from the 642.3 billion yuan in 2022. The prediction denotes Huaweis comeback from US sanctions that hindered its ability to get essential international technology. Hu said the firm is "pretty much back on track" after overcoming obstacles, and he commended our partners and the Huawei team for their tenacity. Huaweis comeback to the highend smartphone market is anticipated with the release of the Mate60 series. Huawei acknowledges the unpredictability of the geopolitical and economic landscape, but in 2024, it intends to concentrate on business efficiency measures. Read More..

B2B Tech News | 4 months ago        



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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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