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Trudeau Unveils C$2.4 Billion Package to Boost Canadas AI Sector

On Sunday, Canadian Prime Minister Justin Trudeau declared that the forthcoming budget will include a C$2.4 billion $1.77 billion package intended to

On Sunday, Canadian Prime Minister Justin Trudeau declared that the forthcoming budget will include a C$2.4 billion $1.77 billion package intended to support the nations artificial intelligence AI industry. The proposed initiatives include an expenditure of C$2 billion to build and enable access to computer resources and technical infrastructure for Canadian researchers, startups, and scaleups working in artificial intelligence. On April 16, the budget is expected to be unveiled. Read More..

B2B Tech News | 3 months ago        

Titans Q4 FY24 Report 17% YoY Revenue Growth, 86 New Stores Added

Titan announced a substantial 17% YoY increase in sales for the fourth quarter of FY24, along with the opening of 86 new locations to bring its total

Titan announced a substantial 17% YoY increase in sales for the fourth quarter of FY24, along with the opening of 86 new locations to bring its total number of outlets to 3,035 across the country. This rise was primarily driven by the jewellery category, with domestic operations rising 19% YoY thanks to doubledigit growth in buyers and samestore sales. Chicago, India, and Dubai are among the new locations where Tanishq has extended its reach. Additionally, the wearables and watches category grew by 7% YoY, with wearables accounting for 2% of sales and analogue watches for 7%. With ten new domestic stores and a 30% YoY growth in the studded category, Caratlanes business developed remarkably, achieving a network presence of 272 locations. Read More..

B2B Tech News | 3 months ago        

IMF Assessing Severe Drought Impact in Africa, Explores Support Measures

The International Monetary Fund IMF is now evaluating how a severe drought affects Africa and looking at methods to assist the impacted countries. Dir

The International Monetary Fund IMF is now evaluating how a severe drought affects Africa and looking at methods to assist the impacted countries. Director of Communications for the IMF Julie Kozack observed that climate shocks occur more often worldwide, with Africa being especially vulnerable. Over 29 million people in East Africa are affected by the worst drought in four decades, which is causing starvation, disease outbreaks like cholera, and displacement. 1.4 million people are internally displaced in Somalia alone, and the droughts catastrophic consequences on the countrys food and energy supplies prompted Zambia to declare a national emergency. Due to low rainfall, drought exacerbates water shortages, making the problems faced by impacted areas even more severe. Read More..

B2B Tech News | 3 months ago        

Chinas Central Bank Unveils $70 Billion ReLending Initiative for Technology Sector

In a statement issued on Sunday, Chinas central bank announced the launch of a 500 billion yuan $70 billion relending programme designed to support th

In a statement issued on Sunday, Chinas central bank announced the launch of a 500 billion yuan $70 billion relending programme designed to support the nations research and technology sectors. The programme will provide small and midsize technology companies with loans at a lowinterest rate of 1.75% through 21 institutions. To provide borrowers flexibility, these oneyear loans will have the option of two extensions, each lasting up to a year. Chinese officials are attempting to improve liquidity and restore confidence in the secondlargest economy in the world against obstacles such as a real estate crisis and trade conflicts with essential allies. Read More..

B2B Tech News | 3 months ago        

Boeing Compensates Alaska Airlines $160 Million for 737 Max Grounding After Incident

Boeing paid Alaska Airlines $160 million in compensation during the first quarter for the 737 Max 9 aircraft grounding after Flight 1282 in January. F

Boeing paid Alaska Airlines $160 million in compensation during the first quarter for the 737 Max 9 aircraft grounding after Flight 1282 in January. Following an incident in which an Alaska Airlines Boeing 737 Max 9s door plug blew out, the Federal Aviation Administration grounded the aircraft. Alaska Airlines reported good demand in February and March, surpassing pregrounding projections, despite the immediate impact of the accident on demand. Boeings decision to compensate significant clients such as Alaska Airlines reflects the increased government investigation and production halt brought on by the event. Pilots at United Airlines were offered unpaid leave in May when the airline experienced delays in Boeing deliveries. U.S. airlines and Boeing are scheduled to release their firstquarter earnings. Read More..

B2B Tech News | 3 months ago        

L&T Stock Slips 1.09% Despite Capital Goods Index Gain Whats Behind the Lag?

Over the last month, Larsen & Toubro Ltd L&T has increased by 3.15%, trailing the 6.13% increase in the S&P BSE Capital Goods index and the 0.27% incr

Over the last month, Larsen & Toubro Ltd L&T has increased by 3.15%, trailing the 6.13% increase in the S&P BSE Capital Goods index and the 0.27% increase in the SENSEX. L&Ts shares fell 1.09% to Rs 3758.55 today, while the S&P BSE Capital Goods index saw a 0.24% decline to 62456.34. The S&P BSE Capital Goods index increased 76.1% in the past year, surpassing the benchmark SENSEXs 24.16% gain. With 1588 shares traded on the BSE instead of the typical 1.12 lakh shares, L&Ts stock traded below its average daily volume. After hitting a 52week low of Rs 2161.1 on April 5, 2023, the stock rose to a record high of Rs 3859.65 on April 2, 2024. Read More..

B2B Tech News | 3 months ago        

UK Regulators Launch Probe into Vodafone and Three Merger Amid Competition Concerns

The Competition and Markets Authority CMA, the UKs antitrust regulator, has ordered a thorough inquiry into the proposed merger of Vodafone with CK Hu

The Competition and Markets Authority CMA, the UKs antitrust regulator, has ordered a thorough inquiry into the proposed merger of Vodafone with CK Hutchisons Three mobile network. There are worries that the transaction would significantly restrict competition in the UK market, which might result in higher pricing and worse quality for customers. Citing possible harm to MVNOs that depend on Threes and Vodafones infrastructure, the CMA set a deadline of September 18 for finishing the probe. Regulators stress the need to resolve competition issues notwithstanding promises from Three and Vodafone over pricing and competition tactics. The mergers goal, revealed last year, is to combine the UK operations of the two companies, leaving three mobile providers in the nation. Three and Vodafone voiced optimism about the mergers benefits but acknowledged the expected regulatory scrutiny. Read More..

B2B Tech News | 3 months ago        

ClearBank Celebrates Milestone Achieves First FullYear Profit Amid Revenue Surge

The UK fintech startup ClearBank, which works with companies like Coinbase, turned a 91% increase in revenue into its first fullyear profit. Pretax pr

The UK fintech startup ClearBank, which works with companies like Coinbase, turned a 91% increase in revenue into its first fullyear profit. Pretax profit for the company increased to £18.4 million in 2023 from a loss of £7.1 million in 2022. Its success may be attributed to a significant rise in overall revenue, caused mainly by increased deposits from higher interest rates. Even though interest income has increased, ClearBank highlights the rise in transaction revenue. The companys clearing division and growing use of banktobank payment services also impacted its success. Citing difficulties acquiring EU licences due to Brexit, ClearBank is pursuing an expansion into the US market and a European banking licence before contemplating an IPO. Read More..

B2B Tech News | 3 months ago        



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Refresh Your Facts

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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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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