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Global stocks and Wall Street down after US economy pulls back

Global stock markets fell on Thursday after the US economy contracted, fueling fears of a global downturn. The future for Wall Streets benchmark S&P 5

Global stock markets fell on Thursday after the US economy contracted, fueling fears of a global downturn. The future for Wall Streets benchmark S&P 500 index was down 1.1% in early trading. Official data showed economic activity contracted 1.6% at an annualized rate in the three months ending in March. This was the first contraction since the second quarter of 2020 in the heart of the pandemic. Japans Nikkei fell 1.5% after May industrial production slumped by 7.2% compared with the previous month. This was the strongest decline since the coronavirus pandemic began in early 2020. Official data showed industrial production rose 0.1% in May, possibly also depressed by the disruption caused by antidisease measures. Read More..

B2B Tech News | 2 years ago        

The World Trade Center announces a partnership with Altcom Academy for Vocational Training in Accra

World Trade CenteWTC Accra has partnered with Altkom Akademia, a global platform and methodology that delivers training certified by institutions such

World Trade CenteWTC Accra has partnered with Altkom Akademia, a global platform and methodology that delivers training certified by institutions such as Google, Microsoft, People Cert Axelos, Java, Python, and many others. The partnership was inspired by WTC Accras strategic objective of promoting prosperity across the continent. It will also enable governments and corporations to enhance the productivity of their workers and prepare them adequately to face the challenges of the dynamic global market. Read More..

B2B Tech News | 2 years ago        

Germany intends to resume debtlimit restrictions in 2023

Germany will borrow 17.2 billion euros $18.1 million next year, adhering to the rule enshrined in the constitution that normally limits Germanys publi

Germany will borrow 17.2 billion euros $18.1 million next year, adhering to the rule enshrined in the constitution that normally limits Germanys public deficit to 0.35 percent of overall annual economic output. The borrowing is almost 10 billion euros higher than a previous figure for 2023 announced in April. Germany broke its own debt rules at the start of the coronavirus pandemic crisis and unleashed vast financial aid to steer the economy through the crisis. Read More..

B2B Tech News | 2 years ago        

Lenskart acquires a major share in the Japanese eyewear brand Owndays

Lenskart, backed by Softbank, has acquired a majority stake in the Japanese brand of D2C glasses Owndays. This gives the company access to 13 markets,

Lenskart, backed by Softbank, has acquired a majority stake in the Japanese brand of D2C glasses Owndays. This gives the company access to 13 markets, including India, Singapore, Thailand, Taiwan, the Philippines, Indonesia, Malaysia, and Japan. The size of the transaction is about $400 million . CEO Shuji Tanaka and COO Take Umiyama remain shareholders and lead the management team. Lenskart will continue to expand rapidly in India and Southeast Asia. The transaction will give Lenskart Owndays major shareholders access to L Catterton Asia and Mitsui & Co., Principal Investment. Read More..

B2B Tech News | 2 years ago        

The new 10% telephone tax comes into force on Friday

The Cellphone imports are subject to a 10% excise duty under the Finance Act 2022. Each SIM card that is imported and ready to use is subject to addit

The Cellphone imports are subject to a 10% excise duty under the Finance Act 2022. Each SIM card that is imported and ready to use is subject to additional Sh50 excise duty. According to tax experts, the new taxes are intended to generate new revenue rather than safeguard a dormant local industry. Mobile phone and SIM card excise duty add yet another tax to the users already burdensome tax burden. According to Safar Hira of Safaricom, the duty will probably increase the cost of devices by more than 10%. Read More..

B2B Tech News | 2 years ago        

Siemens and Nvidia Collaborate Together to Increase Digital Services

Siemens has signed a partnership agreement with chip designer Nvidia Corp to create an enhanced virtual reality for companies. The deal is a cornersto

Siemens has signed a partnership agreement with chip designer Nvidia Corp to create an enhanced virtual reality for companies. The deal is a cornerstone of Siemens Xcelerator, a new open digital platform also launched by the German technology and engineering company on Wednesday. Siemens bought Brightly Software for $1.58 billion on Monday. Services will be offered through Siemenss software as a service SaaS subscription model to make it more affordable for small and mediumsized companies. Read More..

B2B Tech News | 2 years ago        

JP Pharma buys four brands in Dr. Reddys lab

Dr. Reddys Laboratories and JB Pharma have a contract in place for JB Pharma to purchase four of Dr. Reddys Laboratories brands for the Indian market

Dr. Reddys Laboratories and JB Pharma have a contract in place for JB Pharma to purchase four of Dr. Reddys Laboratories brands for the Indian market Z&D, Pedicloryl, Pecef, and Ezinapi. Internal projections place the combined sales of these brands for FY 2021–22 at around Rs 33 crore. One of the pharmaceutical companies in India with the fastest growth is J.B. Chemicals & Pharmaceuticals. Its other two home markets, in addition to its substantial presence in India, which generates the majority of its revenue, are Russia and South Africa. According to IQVIA data, all four brands are targeted at the pediatric market in the nation, which has a total covered market size of Rs 1800 crore. Read More..

B2B Tech News | 2 years ago        

The Commonwealth Bank announces a massive increase in one of its interest rates

Commonwealth Banks fixedrate hike of 1.40 percentage points comes into force on Thursday. The bank is responding to the rising costs of fixedincome fi

Commonwealth Banks fixedrate hike of 1.40 percentage points comes into force on Thursday. The bank is responding to the rising costs of fixedincome financing. CBAs lowest fixed rate is just under 5 percent, while the majority are well over 6 percent. CBA has cut its lowest variable home loan rate by 0.15 percentage points, down to 2.79 percent. The revised rate is only for new customers with a 30 percent deposit. Rates come less than a fortnight after CBA hiked rates for both new and existing variable loans. Read More..

B2B Tech News | 2 years ago        



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