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Singapores sovereign wealth fund warns of severe uncertainty about rising inflation

Singapore sovereign wealth fund GIC posted steady annual returns but warned of deep uncertainty as investors grapple with inflation, pandemic risks an

Singapore sovereign wealth fund GIC posted steady annual returns but warned of deep uncertainty as investors grapple with inflation, pandemic risks and geopolitical challenges. The fund had a nominal annual return of 7% in dollars for 20 years to 31 March 2022. The Government Investment Institute of Singapore GICI has set up a dedicated office to focus more on sustainability. The fund expects portfolio diversification to become more complex as few assets remain unaffected by worsening inflation and slowing economic growth. GIC jointly manages the Singapore holdings with the Monetary Authority of Singapore and state investor Temasek Holdings. Read More..

B2B Tech News | 2 years ago        

Rex Airlines announces plans to conduct a regional experiment of replacing existing fleet with electricpropulsion engines

Australias regional airline has announced plans to equip some aircraft with electric motors. Rex Airlines has named South Australias Mount Gambier as

Australias regional airline has announced plans to equip some aircraft with electric motors. Rex Airlines has named South Australias Mount Gambier as one of the first destinations to test electric aircraft in 2024. Other smaller aviation companies have said they would be looking to do something similar by the end of the decade. The companys deputy chairman John Sharp says the technology could eventually lead to lower airfares for country passengers. The retrofitted aircraft are also expected to be safer and quieter for people living near airports. Its got three benefits one being the potential for lower airfares, Mr. Sharp said. And it will open up new opportunities in towns and cities where you would not have thought it would be viable to operate a regional air service. Read More..

B2B Tech News | 2 years ago        

Google reports that ad sales growth has slowed significantly since the pandemic

In the three months ended June 30, advertising major Google had $56 billion in revenue. While thats an 11.6% increase over the same period last year,

In the three months ended June 30, advertising major Google had $56 billion in revenue. While thats an 11.6% increase over the same period last year, the pace of growth was down significantly from the same quarter the previous year. Google beat Wall Street analysts expectations for quarterly sales and earnings. Google parent Alphabet reported on Tuesday that its quarterly revenue fell 22% as advertisers cut spending amid economic uncertainty and reduced product engagement. Cloud computing revenue grew 36% yearoveryear, and the Google Cloud segment grew 36%. Google said earlier this month that it plans to slow hiring and review investment for the rest of the year. Read More..

B2B Tech News | 2 years ago        

Thales Alenia Space water satellites collaborate with MIPRONS

A deal was signed by Thales Alenia Space and the Italian startup MIPRONS to create a satellite propulsion system that runs on water. The idea is flexi

A deal was signed by Thales Alenia Space and the Italian startup MIPRONS to create a satellite propulsion system that runs on water. The idea is flexible enough to be applied to satellites of any size, from tiny to enormous. The water is electrolyzed to produce hydrogen and oxygen, which are then fed into the combustion chamber. As a result, manoeuvres like orbit-raising, de-orbiting, and collision avoidance can be completed more quickly. Massimo Claudio Comparini, CEO of Thales Alenia Space in Italy, said, We are very proud to work with MIPRONS, which is gaining increasing international recognition since our collaboration could very well change the paradigm for space missions. Read More..

B2B Tech News | 2 years ago        

Interest rate hike by the US Federal Reserve will increase market risks for Asian central banks

More than five standard deviations below the 3.3 percentage point fiveyear average gap, a 75basispoint increase by the Fed would reduce Indonesias p

More than five standard deviations below the 3.3 percentage point fiveyear average gap, a 75basispoint increase by the Fed would reduce Indonesias policyrate buffer versus the US to just one percentage point. The only country in the region where the buffer will remain larger than the fiveyear average after the Fed action is New Zealand. According to the spread that Southeast Asian bonds offer over Treasuries, their appeal is at an alltime low. Australia, New Zealand, and South Korea have helped to support yields, making the spread to the US more alluring Read More..

B2B Tech News | 2 years ago        

Frances Atos reports Consistent Sales in the First Half and Anticipates FullYear Cash Burn

French IT consultancy Atos, which is in the red, reported a firsthalf profit as expected but said it would face a loss of almost €500m by 2022 as ad

French IT consultancy Atos, which is in the red, reported a firsthalf profit as expected but said it would face a loss of almost €500m by 2022 as adopted innovative plans to restore confidence in the market. Halfyear fixed exchange revenue was €5.56 billion, down 0.6% from a year earlier, in line with an average estimate of €5.52 billion among ten analysts. The group burned 500 million euros in the first half of the year and expected to burn up to 450 million euros for the full year. It now said it expects annual operating margins to be at the lower end of the previously reported 35% range. Read More..

B2B Tech News | 2 years ago        

Startups in Egypt are using technological innovation to make progress against financial exclusion

Financial exclusion is a broad category that can range from an inability to access banking services to the adoption of electronic payment methods. By

Financial exclusion is a broad category that can range from an inability to access banking services to the adoption of electronic payment methods. By 2021, 73% of the Egyptian population did not have a bank account, which results in the fact that 4% of the world population without banks live in the North African country.. Several FinTechs are seeking to address the situation and increase access to key financial services in the country. In Egypt, many workers are paid in cash, and the legacy banking system cant extend credit at lower risk due to a lack of infrastructure and data. dopey, a UKbased FinTech platform, is helping unbanked workers in Egypt access digital payment methods such as prepaid debit cards. Lucky, a cashback service that connects users to a network of over 30,000 merchants, also uses prepaid cards to expand the range of spending options for Egyptian consumers. Read More..

B2B Tech News | 2 years ago        

The inflation rate in Australia reaches 6.1%, the highest yearly increase in 21 years

Australian prices rose 6.1 % in the June quarter, the fastest annual pace since 2001, as consumers spent more on everything from fuel to food and hous

Australian prices rose 6.1 % in the June quarter, the fastest annual pace since 2001, as consumers spent more on everything from fuel to food and housing. Average inflation fell in AprilJune to 4.9% from 3.7% in the previous three months, fueling expectations of another rate hike at next weeks RBA policy meeting. Fruit and vegetable prices rose nearly 6 % in the June quarter alone, partly due to shortages caused by heavy rains on the east coast. Rising costs were one of the reasons why voters toppled the Morrison government in the May 21 election. Inflation in Australia lags behind inflation in most of its trading partners. Inflation in New Zealand was 7.3% in June, another 32year high, while inflation in the United Kingdom and the United States exceeded 9 percent in June and the annual rate of the euro zone. More than 9% in the same month 8.6% Read More..

B2B Tech News | 2 years ago        



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