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US crude below $95 increased oil production in Libya Oil and gas rigs are being added, and the EU is looking into Nigerian gas options

US crude prices settle below $95 a barrel for the first time since April in choppy trading. EU said it would allow Russian stateowned companies to shi

US crude prices settle below $95 a barrel for the first time since April in choppy trading. EU said it would allow Russian stateowned companies to ship oil to third countries under adjustment of sanctions agreed by member states this week. Libyas National Oil Corporation aims to increase production to 1.2 million barrels per day in two weeks. Current oil production is at 860,000 BPD, compared with 560,00 BPD before resuming production last week. The US oil and natural gas rig count this week rose for a third week in a row. High prices encourage increased spending at the good pad, boosting demand for some oilfield services companies. The EU is seeking additional gas supplies from Nigeria as it prepares for potential Russian supply cuts. Libyas oil exports at times last year reached 1.2 million BPD. Read More..

B2B Tech News | 3 years ago        

Samsung was penalized $9.8 million for false phone ads in Australia

An Australian judge has ordered Samsung to be fined AUD 14 million $9.8 million for falsely advertising the water resistance of some smartphone models

An Australian judge has ordered Samsung to be fined AUD 14 million $9.8 million for falsely advertising the water resistance of some smartphone models. Samsung sold 3.1 million vulnerable phones in Australia, but courts could not determine how many customers found faulty charging ports. An unknown number of customers have had their ports replaced by Samsung Authorized Repairers. According to the court, the amount of the fine is greater than the income generated by Samsung Electronics at the time of the false advertising. Federal Judge Patrick Murphy said Samsung Australia should not get too much credit for cooperating with the Australian Competition and Consumer Commissions investigation into misleading advertising for Galaxy phones. The judge denied that Samsungs lawyers initially denied that the ad was misleading and that the phone could be submerged. Read More..

B2B Tech News | 3 years ago        

Big investment a European aircraft manufacturer opens a factory in Hungary

In Gyula, in southeast Hungary, Airbus opened a HUF 2.2 billion EUR 5.4 million helicopter parts factory. The 13,000 square meter facility will produc

In Gyula, in southeast Hungary, Airbus opened a HUF 2.2 billion EUR 5.4 million helicopter parts factory. The 13,000 square meter facility will produce highprecision metallic basic components for helicopter dynamic systems. For the Airbus family, the factory will be the only source of supply for these components. Speaking at the opening, the Minister of Technology and Industry László Palkovics referred to the plants acquisition of an EASA license as a historic moment and noted that not many countries have such a license. Read More..

B2B Tech News | 3 years ago        

Singapore is the first source of FDI to India

Singapore has become the top source country in terms of Foreign Direct Investment FDI in India for the financial year 202122. India received the highe

Singapore has become the top source country in terms of Foreign Direct Investment FDI in India for the financial year 202122. India received the highest annual FDI inflows of $84.83 billion in FY22, surpassing last years FDI by $2.87 billion. The software and hardware sector recorded the highest FDI inflows in the past fiscal year. In India, foreign investments up to 100% are allowed in noncritical sectors through the automatic route, not requiring security clearance from the Ministry of Home Affairs MHA. The government has also implemented several reforms under the FDI policy regime across sectors such as insurance, defense, telecom, financial services, pharmaceuticals, retail trading, and ecommerce. Read More..

B2B Tech News | 3 years ago        

Development of new solutions for green energy

Lumos has patented a technology to produce green hydrogen, ammonia, fertilizer, electricity, and other raw materials from human and animal excrement.

Lumos has patented a technology to produce green hydrogen, ammonia, fertilizer, electricity, and other raw materials from human and animal excrement. Untreated sewage is a serious threat to human health. Lumos technology provides decentralized wastewater treatment for each region. Nigeria needs to do more to promote its talent. Otherwise, you will lose them when they are well cared for. It is an open secret that we can no longer depend on crude oil to become a competitive economy. Investments and developments in other technology sectors are essential to building a strong economy. Read More..

B2B Tech News | 3 years ago        

Aman launches securitization branch with first issue of $ 26.39 million in 3 months

Egypts Aman Group, one of the leading FinTech companies in the Egyptian market, has announced the establishment of Aman Securitization company. The Gr

Egypts Aman Group, one of the leading FinTech companies in the Egyptian market, has announced the establishment of Aman Securitization company. The Group also expanded into two new financing sectors, namely nanofinance, with a maximum of EGP 3,000 to support marginalized groups, and Islamic finance, which is very popular in Egypt. Ahmed ElKhatib, CEO and Managing Director of Aman Microfinance, said, Aman Microfinance is committed to helping small and medium enterprises thrive and maintain continuity in the face of crises and rapid changes in the business world, and to achieve sustainability. We also want to continue to develop and invest in these services to support the nonbanking financial sector and achieve financial inclusion. Hazem Moghazy, CEO and Managing Director of Aman Financial Services, said The Group is committed to providing a comprehensive platform for financial services to customers of all categories. Read More..

B2B Tech News | 3 years ago        

According to IBM, the average cost of a data breach for Canadian companies surveyed was $7 million

During the 12 months ending in March, the 25 Canadian companies that were compromised paid an average of $7 million per incident to recover. By estima

During the 12 months ending in March, the 25 Canadian companies that were compromised paid an average of $7 million per incident to recover. By estimation, the average value of the 550 companies surveyed worldwide was $5.5 million all in Canadian dollars. These figures are in the latest annual cost of data breach study by IBM and the Ponemon Institute, released today. The massive cost elements of a data breach are the cost of detection and recovery including finding affected systems and loss of business. ORegan said the increase in telecommuting since the pandemic was the latest factor in the data breach. Read More..

B2B Tech News | 3 years ago        

Root Global, based in Berlin, raises € 2.5 million to decarbonise the global food system

31% of global anthropogenic greenhouse gas GHG emissions come from the global agrifood system. Roots vision is to become a CO2 monitoring system for t

31% of global anthropogenic greenhouse gas GHG emissions come from the global agrifood system. Roots vision is to become a CO2 monitoring system for the food industry, driving all decisions that could affect a companys emissions performance and thereby generating revenue. To this end, the Berlinbased startup has now raised 2.5 million euros. Today, our food system emits 16.5 billion tonnes of carbon equivalent. This means that almost 1 in 3 tons enters the atmosphere. The preseed round was led by Project A with the participation of Nucleus and a large group of angel investors. The funds will be used to develop the first full version of the product for the food industry. Read More..

B2B Tech News | 3 years ago        



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