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SBI increases the lending rate by 10 basis points

The countrys largest lender, the State Bank of India, has decided to raise the marginal cost of lending rates MCLR on loans by 10 basis points, or 0.1

The countrys largest lender, the State Bank of India, has decided to raise the marginal cost of lending rates MCLR on loans by 10 basis points, or 0.10 percent, starting July 15, 2022. For a oneyear mandate, the bank has decided to raise the MCLR to 7.50% from the current 7.40%, according to a statement released Thursday by the State Bank of India on its website. For the sixmonth term, the MCLR will be increased from 7.35% to 7.45%. The twoyear MCLR will be increased from 7.60% to 7.70%. In three years, it will have increased from 7.7% to 7.8%. Read More..

B2B Tech News | 2 years ago        

Digicel is currently concentrating on trade in the Caribbean and Mesoamerica

Digicel has completed the sale of its Pacificbased business to Telstra, based in Australia. A Jamaicanbased telecommunications company has announced t

Digicel has completed the sale of its Pacificbased business to Telstra, based in Australia. A Jamaicanbased telecommunications company has announced that it has agreed to a mandatory arbitration process to settle a single exit fee of PGK 350 million approximately $ 99.4 million in dispute. Digicel Pacific was sold to Telstra for $ 1.85 billion with Australian government funding. Digicel expects to collect $ 50 million for the first benefit period based on operating income performance for the year ended March 31, 2022. Read More..

B2B Tech News | 2 years ago        

The delivery of advertising space on Myntras web platform attracts 18% of GST

The GST Authority for Advance Rulings AAR, Karnataka, has determined that an 18% Goods and Services Tax is levied on the provision of advertising spac

The GST Authority for Advance Rulings AAR, Karnataka, has determined that an 18% Goods and Services Tax is levied on the provision of advertising space by Myntra Designs. The company provided space on its web platform to Lenzing, a Singaporebased company. The transaction was with a nonresident entity and the consideration was received in foreign exchange. AAR has cited a lack of its jurisdiction in the matter, refraining from making any clarifications, except that a domestic transaction of similar nature would continue to be taxed at 18%. Read More..

B2B Tech News | 2 years ago        

Safaricom has compiled a ranking of the most valuable companies in Kenya in 2022

Safaricom and Equity Bank are among the most valuable brands disrupting the use of technology in 2022. Safaricom retained the top spot for brand equit

Safaricom and Equity Bank are among the most valuable brands disrupting the use of technology in 2022. Safaricom retained the top spot for brand equity as the shares took second place. Safaricom’s UGC is Kenya’s most valuable brand at $ 689 million KSH81.4 billion. Safaricom acquired $ 245.6 million Cash 29.03 billion from its mobile service MPesa. Equity Bank is second with an AAA + estimate of USD 388 million KSH 45.9 billion. Read More..

B2B Tech News | 2 years ago        

Latin American investment in startups fell sharply in the second quarter

Venture investment in Latin American startups totaled just $2.3 billion in the second quarter of 2022, per Crunchbase data. That represents a drop of

Venture investment in Latin American startups totaled just $2.3 billion in the second quarter of 2022, per Crunchbase data. That represents a drop of more than twothirds from the yearago quarter and ranks as the lowest quarterly total since 2020. Crunchbase counted 203 disclosed rounds in Q2, down 38% from Q1 and 39% from last year. Crypto and real estatefocused unicorns in Latin America have seen their funding dry up in the face of a tighter environment. In the crypto space, two unicorns operating cryptocurrency exchange platforms have reportedly laid off staff in recent months. For Q2, investors put $1.1 billion into earlystage deals Series A and B, a decline of around 15% from Q1 and 35% from the prior quarter. Read More..

B2B Tech News | 2 years ago        

Creating a national power grid to follow the sun was dismissed as impossible

Eastern states have faced energy reliability issues, most recently with blackouts in Queensland and New South Wales this year. By creating a single na

Eastern states have faced energy reliability issues, most recently with blackouts in Queensland and New South Wales this year. By creating a single national grid, eastern states could obtain solar power from Western Australia during the evening slope, when energy consumption is typically highest. Building a long transmission line between WA and the eastern states could cost billions and would likely be more expensive than building more accumulators in the east. Read More..

B2B Tech News | 2 years ago        

The bank warns that too many rate hikes could crash the Australian housing market

The Australian housing market could collapse if interest rates rise too high. The Reserve Bank of Australia has hiked interest rates three times since

The Australian housing market could collapse if interest rates rise too high. The Reserve Bank of Australia has hiked interest rates three times since May. The Swiss investment bank UBS has predicted interest rates will peak at around 3.5 percent in March next year but said this will hit the housing market hard. We still believe that market prices of around 3.5% – if delivered – would likely cause housing construction to collapse and bring the economy closer to the recession, said George Tharenou, the economist a boss at UBS, told The Australian. The Reserve Bank of Australia RBA has hiked interest rates three times since May, taking them from a record low of 0.1% to a staggering 1.35%. Read More..

B2B Tech News | 2 years ago        

Kenya is anticipated to receive a portion of the $2.36 trillion in Gates funding.

Kenya is among the beneficiaries of the new Sh2.36 trillion $20 billion pledged by the Bill and Melinda Gates Foundation. The promise of the founder o

Kenya is among the beneficiaries of the new Sh2.36 trillion $20 billion pledged by the Bill and Melinda Gates Foundation. The promise of the founder of Microsoft came at a time when the world economy is experiencing high inflation and the disruptions of the RussoUkrainian war. The Gates Foundation, founded by Bill and Melinda Gates in 2000, has provided financial assistance to the country’s Ministry of Health to fight the Covid19 pandemic and HIV / AIDS prevention efforts. Gates, one of the richest people in the world said he looks to virtually donate all his wealth to the philanthropic organization. Gates has a net worth of about $122.4 billion as per Bloomberg. Read More..

B2B Tech News | 2 years ago        



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