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56 bank accounts worth $7 billion are frozen by a court.

The High court has frozen 56 bank accounts holding a huge amount of Sh7 billion suspected to have been laundered by foreign nationals. The orders were

The High court has frozen 56 bank accounts holding a huge amount of Sh7 billion suspected to have been laundered by foreign nationals. The orders were issued after the Asset Recovery Agency ARA told the court that the accounts for seven targeted companies were used for money laundering. The accounts that have been frozen are in USD, British Pound Sterling, EURO, and Kenya shillings. The accounts were used as conduits for money laundering in the guise of providing merchant services. Justice Maina stopped Boxtrips travels and tours limited from transferring or withdrawing 3.9 million dollars Sh460 million held in his Eco bank account. For Bagtrip travels, the director of the company is listed as Taiwo Soyemi, a Nigerian National. Read More..

B2B Tech News | 2 years ago        

Denver airport manager Phil Washington is chosen by Biden to lead the FAA.

Joe Biden nominates Phil Washington, the head of Denver International Airport, to lead the FAA. The nomination comes after Steve Dickson left the post

Joe Biden nominates Phil Washington, the head of Denver International Airport, to lead the FAA. The nomination comes after Steve Dickson left the post about halfway through his term at the end of March. Billy Nolen, the FAA chief of security, has been named interim administrator. The FAA has been working with airlines to bring down the rate of flight delays and cancellations amid staffing shortages and other challenges. The FAA says staffing issues are not the cause of most of the delays and cancellations. The agency recently trimmed its schedule in Newark, New Jersey, to help avoid delays. Other carriers including Delta, JetBlue, and Southwest have cut flights so they arent overwhelmed when routine disruptions happen. Read More..

B2B Tech News | 2 years ago        

Commodities have fallen to their lowest levels in months due to fears of a market slowdown

From crude oil to natural gas, copper to cobalt, nickel to palm oil to cotton, commodities across the board experienced multimonth lows. Investors al

From crude oil to natural gas, copper to cobalt, nickel to palm oil to cotton, commodities across the board experienced multimonth lows. Investors all over the world were paralyzed by worries about a recession, a slowdown in the global economy, and an uptick in COVID cases. The majority of commodities increased, especially on March 7. Prices for commodities have fallen dramatically over the past month. Aluminum and copper prices have both fallen to oneyear lows. Copper has reached a 19month low. Agricultural commodities were not exempt from the downward trend, as crude palm prices dropped by 10% to almost a years low. Read More..

B2B Tech News | 2 years ago        

3M faces higher costs after a $ 581 million cleaning contract in Belgium

3M has reached an agreement with the Flemish government to clean up and pollute around the Antwerp factory. Belgian authorities say the agreement does

3M has reached an agreement with the Flemish government to clean up and pollute around the Antwerp factory. Belgian authorities say the agreement does not limit future liability for damage to residents. 3M says it will receive a $ 360 million pretax settlement for PFAS in the second quarter of 2022. The employee said the contract remains open to 3M’s sewerage and soil degradation obligations. 3M will pay € 100 million directly to the Flemish government for costs related to PFAS. This will help fund the Antwerp Ring Road government’s € 4.5 billion projects. A lawyer says the compromise does not preclude civil lawsuits against 3M. Shares of 3M rose less than 1 percent in New York business on Wednesday. Read More..

B2B Tech News | 2 years ago        

China’s lethal birth rate and weak consumer spending have caused online baby and maternity seller Mia.com to shrink

In response to weak consumer spending and a population crisis in China, Mia.com will discontinue its primary app as of September 10. The business will

In response to weak consumer spending and a population crisis in China, Mia.com will discontinue its primary app as of September 10. The business will keep operating its mini program on WeChat, the popular app owned by Tencent Holdings. Mia.coms business has grown over the last ten years as a result of the increased demand for imported baby and mom products. An inquiry for comment on Mia.com on Wednesday did not receive an immediate response. The South China Morning Post is owned by Alibaba. Read More..

B2B Tech News | 2 years ago        

The EU is adding gas and nuclear energy to the green finance taxonomy, reversing the previous vote

The European Parliament has decided to temporarily add natural gas and nuclear energy to the classification of green energy technologies. The move cou

The European Parliament has decided to temporarily add natural gas and nuclear energy to the classification of green energy technologies. The move could generate billions of euros in green investment in both technologies. The legal charity ClientEarth has threatened to take legal action immediately. Austria and Luxembourg are also threatening legal battles over the latest classification rules. The final regulation allows for provisional approval for gasfired power plants that replace coal and do not produce more than 270 grams of carbon dioxide per kilowatthour. Power plant owners must obtain building permits by 2030 and plan to switch to renewable or lowcarbon gas by the end of 2035. Read More..

B2B Tech News | 2 years ago        

Kenya seizes Sh6.2 billion associated with the Nigerian startup Flutterwave

A Kenyan High Court has frozen more than Sh6.2 billion spread in 62 bank accounts belonging to Nigerian startup Flutterwave and four Kenyans. The bill

A Kenyan High Court has frozen more than Sh6.2 billion spread in 62 bank accounts belonging to Nigerian startup Flutterwave and four Kenyans. The billions feared that they will the proceeds of card fraud and money laundering. Accounts include GTB, Equity, EcoBank, KCB, and Cooperative Bank. The court heard that Flutterwave received 12.4 billion kroner in a single account at Equity Bank between November 2020 and this year, representing billions overseas managed by the startup. Rem X Ltd is at the center of a separate moneylaundering suit, which saw the court freeze Sh5.6 billion in accounts. Read More..

B2B Tech News | 2 years ago        

Flexe Logistics latest fund raise has increased its value to over $1 billion.

Seattlebased Flexe raised $ 119 million in a Series D round that attracted new investment from funds and accounts managed by T. Rowe Price Associates

Seattlebased Flexe raised $ 119 million in a Series D round that attracted new investment from funds and accounts managed by T. Rowe Price Associates and Prologis Ventures. The funding comes at a time when severe supply chains are limiting trade and commerce around the world. Venture capital firms are helping startups raise millions of dollars to help them reach their valuation targets. Warehousing firm Flexport more than doubled its valuation to $8 billion in February after it raised $935 million in a latestage funding round. Read More..

B2B Tech News | 2 years 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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