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Infosys reports continued decline in net profit but raises FY23 revenue and margin guidance

Infosys reported a 5.7 % sequential decline in net profit to 5,360 crores in the June quarter. The management claimed that wage increases were largely

Infosys reported a 5.7 % sequential decline in net profit to 5,360 crores in the June quarter. The management claimed that wage increases were largely to blame for the decline. Infosys increased its revenue forecast for FY23 from 13 to 15 % to 14 to 16 %. According to a report by Kotak Institutional Equities, Infosys bottom line is anticipated to benefit from the weakening rupee. With a contribution of more than 60% of the companys overall revenue, North America continues to be the IT giants main source of income. The company reported that it continues to experience strong demand across all regions, particularly in the US. Read More..

B2B Tech News | 2 years ago        

Egyptian, UAE and Jordanian industrial partnerships for private sector development

Egyptian Prime Minister Mostafa Madbuli said the industrial partnership between Egypt, the United Arab Emirates, and Jordan aims to develop the privat

Egyptian Prime Minister Mostafa Madbuli said the industrial partnership between Egypt, the United Arab Emirates, and Jordan aims to develop the private sector in the three countries. It was announced on Sunday at a meeting with the Egyptian Minister of Trade and Industry, Nevin Gamea. ADQ, the Abu Dhabi holding company, has allocated and managed a $10 billion investment fund to accelerate partnership activity in five priority areas. The Supreme Council of Integrated Industrial Partnerships for Sustainable Economic Development participates in the meeting. The purpose of the meeting was to monitor the implementation of the partnership. Industrial partnerships aim to promote regional economic integration, and competitive advantages, develop regional supply chains, and improve trade prospects. Read More..

B2B Tech News | 2 years ago        

The HR automation company Omni aspires to become the Rippling of Southeast Asia

Singaporebased Omni HR has raised $2.4 million in an oversubscribed preseed round. The software enables HR teams to digitize employee records and auto

Singaporebased Omni HR has raised $2.4 million in an oversubscribed preseed round. The software enables HR teams to digitize employee records and automate administrative tasks like onboarding and timeoff management. It was founded by Brian Ip, a former Goldman Sachs executive, and data engineer YC Chan. The companys founders say it aims to turn traditional HR software into a system of record rather than a siloed tool. They see two main categories of HR software local payroll software and imported software from overseas. For recruitment, Omni can localize by connecting with local job boards instead of UScentered ones. In Singapore, the probation period of permanent staff can be extended but only three months, while in Indonesia, it is limited to three months. Read More..

B2B Tech News | 2 years ago        

Panatoni entered India. An investment of 200 million dollars for the construction of 4 logistics parks

With its entry into India, USbased Panattoni, a global leader in industrial & logistics real estate development, has made its debut in the Asian marke

With its entry into India, USbased Panattoni, a global leader in industrial & logistics real estate development, has made its debut in the Asian market. Panattoni is in negotiations with landowners in DelhiNCR, Mumbai, Chennai, Hyderabad, and Bengaluru to buy about 250 acres of land. The company will invest USD 200 million roughly Rs 1,597 crore in the initial four industrial and logistics parks. One of the biggest industrial real estate developers in the world is the Panattoni Group, which includes Panattoni India Development Pvt Ltd. The company will make it easier for investors to access these assets and will help Indias economy and employment to grow sustainably. Panasonic believes that a major demand driver will be Indias ambition to establish itself as a hub for global manufacturing Read More..

B2B Tech News | 2 years ago        

European markets are off to lower starts in a key week for earnings and monetary policy

The FTSE 100 in Britain is anticipated to fall by about 29 points to 7,247, the DAX in Germany is anticipated to fall by about 83 points to 13,171, an

The FTSE 100 in Britain is anticipated to fall by about 29 points to 7,247, the DAX in Germany is anticipated to fall by about 83 points to 13,171, and the CAC 40 in France is anticipated to fall by about 40 points to 6,177. The twoday policy meeting of the United States Federal Reserve, which ends on Wednesday, will dominate much of this weeks attention. The European Central Bank began its cycle of rate increases last week with a 50 basis point increase that was higher than initially anticipated. Corporate earnings will also be a major factor in the movement of the European stock market major players reporting this week include UBS, Unilever, LVMH, and Deutsche Bank. Read More..

B2B Tech News | 2 years ago        

Four new courses are being offered by Nilepreneurs Initiative to help business incubators support entrepreneurs

The Nilepreneurs Initiative — one of the initiatives of the Central Bank of Egypt — announced the launch of four new courses for business incubato

The Nilepreneurs Initiative — one of the initiatives of the Central Bank of Egypt — announced the launch of four new courses for business incubators in various fields to support startup owners. The courses cover technology, digital transformation, climate change technology, local manufacturing, and the furniture industry, in addition to equality programs for gender and womens economic empowerment. This is within the framework of contributing to achieving the UNs sustainable development goals SDGs and Egypts 2030 Vision. The Nilepreneurs Initiatives business incubator programs support two stages of establishing startup companies, as the first is sponsored by the Egyptian Export Development Bank. The second round of the preincubation program has been allocated to comply with the fifth SDG, which is to empower women economically. It also aims to facilitate the access of female entrepreneurs to financing and achieve gender equality. Read More..

B2B Tech News | 2 years ago        

The government of the Australian Capital Territory is investing in a 250 MW battery project

The Australian Capital Territory state government will pledge funding for a battery energy storage system BESS in its budget announced on August 2.

The Australian Capital Territory state government will pledge funding for a battery energy storage system BESS in its budget announced on August 2. The project was first presented in a previous budget for 20202021, with the ACT government pledging to invest a total of AU $ 100 million in the project over five years. Two largescale battery storage projects are already under construction in the ACT. Industry stakeholders were invited to participate in the workshops held with the ANU. The commissioning is expected in the period 20232024 for the new fleet. The high number of participants indicates that there is a lot of support for the program. Read More..

B2B Tech News | 2 years ago        

Gold declines as the currency strengthens and a Fed rate increase approaches

Spot gold was down 0.2% at $1,722.84 per ounce as of 0110 GMT. U.S. gold futures decreased by 0.5%. The dollar increased by 0.1%, increasing the cost

Spot gold was down 0.2% at $1,722.84 per ounce as of 0110 GMT. U.S. gold futures decreased by 0.5%. The dollar increased by 0.1%, increasing the cost of bullion priced in dollars for buyers using other currencies. The Federal Reserve is expected to raise rates by 75 basis points this week, according to the markets. Although gold is regarded as an inflation hedge, the opportunity cost of holding bullion increases as interest rates rise. The markets are pricing in a 75basispoint rate increase to combat skyrocketing inflation as the U.S. The central bank ends its twoday session on Wednesday. Read More..

B2B Tech News | 2 years ago        



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