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Bangladesh seeks IMF funding as import bill hits South Asia

Bangladesh has become the latest South Asian country to seek international financial assistance, asking the IMF for a multibilliondollar loan. The IMF

Bangladesh has become the latest South Asian country to seek international financial assistance, asking the IMF for a multibilliondollar loan. The IMF added that Bangladesh has reached out to Bangladesh to begin negotiations on the program and is seeking a form of stability and resilience to help the country adapt to climate change. Bangladesh is in a better position than other South Asian countries due to its strong export sector, where the garment trade is an important source of foreign exchange earnings. Now facing increasing import legislation, Bangladeshi officials have dismissed suggestions that the country is in crisis. Sri Lanka has yet to reach an agreement with the IMF, but Pakistan reached a tentative agreement this month on a $1.3 billion loan as part of a $7 billion aid package. Read More..

B2B Tech News | 2 years ago        

CBK bans Lipa na MPesa interestfree loan scheme

The launch of a Safaricombacked zerointerest credit service for the purchase of goods was thwarted by the Central Bank of Kenya CBK. According to thre

The launch of a Safaricombacked zerointerest credit service for the purchase of goods was thwarted by the Central Bank of Kenya CBK. According to three people with knowledge of the situation, the CBK requested that the manufacturers of the product known as Faraja cease distribution. If approved, Faraja users can spend up to Sh100,000 on goods and services and pay the same amount without the additional fees associated with other credit products. By charging Lipa Na MPesa fees, which range from Sh23 to Sh210, Safaricom will be compensated for its costs. Read More..

B2B Tech News | 2 years ago        

NBN Co. was told to reset its pricing strategy

NBN Co will remove special access obligations from the ACCC assessment and make significant changes based on revised expectations arising from the new

NBN Co will remove special access obligations from the ACCC assessment and make significant changes based on revised expectations arising from the new federal agreement.The SAU before the ACCC has been widely criticized by retail service providers RSPs because it would lock in price rises every year between now and 2040. A discussion paper on the new SAU will be published early next month. Rowland said any variation to the SAU will need to have some regard for the past, and that the companys original proposals had unrealistic revenue expectations. Aussie Broadband managing director Phillip Britt says he is pleased to see the government defend Australians from rising internet bills. Telstra looks forward to a wholesale pricing and service regime which provides a better experience for customers and a more successful industry. Read More..

B2B Tech News | 2 years ago        

Amazon Web Services invests more in Chile and Latin America

Amazon Web Services AWS, a subsidiary of Amazon.com Inc, expects to grow in the next few years in Chile and the rest of Latin America despite politica

Amazon Web Services AWS, a subsidiary of Amazon.com Inc, expects to grow in the next few years in Chile and the rest of Latin America despite political turbulence. The AWS Cloud platform offers storage, robotics, artificial intelligence, and more than 200 services. Starting in 2022, AWS plans to open 30 new AWS Local Regions with infrastructure, storage, and database services in Argentina, Chile, Colombia, and Brazil. The company announced Wednesday that it had begun the processing of obtaining the necessary environmental permits to build a $205 million data center in the Chilean capital. Valles said the companys focus on growth and a longterm vision allows it to continue investing in Latin America despite the regions sociopolitical turbulence. Read More..

B2B Tech News | 2 years ago        

The US completes a $102.1 million loan to Syrah Resources for a plant in Louisiana

The US Department of Energy has awarded Syrah Technologies LLC a $102.1 million loan to expand production of graphitebased active anode material, a ke

The US Department of Energy has awarded Syrah Technologies LLC a $102.1 million loan to expand production of graphitebased active anode material, a key component of lithiumion batteries.The facility is assumed to produce enough anodes for 2.3 million electric vehicles by 2040.. This was the first loan from the Advanced Technology Vehicle Manufacturing ATVM loan program that ended in 2011. The Department of Energy will lend a joint venture $2.5 billion from the same ATVM program to finance the construction of a new lithiumion battery cell manufacturing plants. US President Joe Biden has set a goal that by 2030 50% of US car production will be electric or plugin hybrid. The government asked for a tax credit to reduce the price of electric vehicles. Read More..

B2B Tech News | 2 years ago        

U.S. Senate passes legislation to increase chip production and compete with China

The Chips and Science act provides about $52 billion in subsidies for United States semiconductor production and an investment tax credit for chip pla

The Chips and Science act provides about $52 billion in subsidies for United States semiconductor production and an investment tax credit for chip plants estimated to be worth $24 billion. It also authorizes more than $170 billion over five years to boost scientific research to better compete with China. The Chinese Embassy in Washington said China firmly opposed the bill which and it said was entrenched in the Cold War and zerosum game mentality. Most of the funding was slated for new factories that will take two or three years to build. Lawmakers said they normally would not support hefty subsidies for private businesses but agreed that China and the European Union have been awarding billions in incentives. Read More..

B2B Tech News | 2 years ago        

Kenya’s Weak Shilling Hurts Supplies to UN Agencies

Last year, local vendors provided the UN with goods and services worth $529.5 million Sh62.8 billion. Since last year, the shilling has been losing gr

Last year, local vendors provided the UN with goods and services worth $529.5 million Sh62.8 billion. Since last year, the shilling has been losing ground against the dollar, losing 5% of its value annually. Kenya, which has more than 22,000 suppliers registered with UNMG, continues to be the top supplier. The supply is worth $2.33 billion Sh272.7 billion. Because supplies were affected by the weak shilling, traders had to spend more to import goods. Read More..

B2B Tech News | 2 years ago        

More than half of CIOs want to increase their staff

53% of CIOs are planning to expand their current headcount, while 35% will maintain their headcount. 9% will freeze hiring, and just 2% intend to redu

53% of CIOs are planning to expand their current headcount, while 35% will maintain their headcount. 9% will freeze hiring, and just 2% intend to reduce headcount over the next six months. 73% of employers across all industries think it will be even more challenging to find qualified employees. The report says digital transformation and business expansion agendas are driving hiring demand. The soft skills that are hardest to find, according to Australias CFOs include management expertise 52% project management skills 51%, and commercial acumen 51%. Robert Half Australia managing director David Jones says there have been historically low unemployment and high job vacancy rates over the past 12 months. The current tight labor market is being driven by buoyant job creation and already high participation rates, he says. Read More..

B2B Tech News | 2 years ago        



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