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The inflation rate in Australia reaches 6.1%, the highest yearly increase in 21 years

Australian prices rose 6.1 % in the June quarter, the fastest annual pace since 2001, as consumers spent more on everything from fuel to food and hous

Australian prices rose 6.1 % in the June quarter, the fastest annual pace since 2001, as consumers spent more on everything from fuel to food and housing. Average inflation fell in AprilJune to 4.9% from 3.7% in the previous three months, fueling expectations of another rate hike at next weeks RBA policy meeting. Fruit and vegetable prices rose nearly 6 % in the June quarter alone, partly due to shortages caused by heavy rains on the east coast. Rising costs were one of the reasons why voters toppled the Morrison government in the May 21 election. Inflation in Australia lags behind inflation in most of its trading partners. Inflation in New Zealand was 7.3% in June, another 32year high, while inflation in the United Kingdom and the United States exceeded 9 percent in June and the annual rate of the euro zone. More than 9% in the same month 8.6% Read More..

B2B Tech News | 2 years ago        

Microsoft misses estimates, but shares rise by 5% on optimistic guidance

Microsoft shares rose 5% in extended trading on Tuesday after the software maker released an upbeat profit forecast for the year ahead. Microsoft post

Microsoft shares rose 5% in extended trading on Tuesday after the software maker released an upbeat profit forecast for the year ahead. Microsoft posted its weakest revenue growth since 2020 at 12% yearoveryear for the quarter ended June 30. The Intelligent Cloud segment, which includes the Azure public cloud for application hosting, generated $20.91 billion in revenue, up 20%, but below StreetAccounts estimate of $21.10 billion. The More Personal Computing segment posted $14.36 billion in revenues, up 2% year over year, boosted by Bing search and Xbox games. Microsoft saw $126 million in operating expenses tied to its decision to stop selling products and services in Russia. The company said factory shutdowns in China in April and May and a worsening computer market in June cut Windows revenue from device makers by $300 million. Technology industry researcher Gartner said earlier this month that logistical disruptions contributed to a drop in quarterly PC shipments. Read More..

B2B Tech News | 2 years ago        

Despite recession fears, Euronext has high confidence in European technology companies

Stefan Bujna says he is very confident in the future of the European technology company. PanEuropean stock exchange Euronext launched a new technology

Stefan Bujna says he is very confident in the future of the European technology company. PanEuropean stock exchange Euronext launched a new technology initiative called Tech Leaders in June. It aims to help companies in this sector gain more visibility among asset managers and other investors. Europe has powerful research, academia, leading companies, and businesses, says Bujna. He said Europes structural weakness is that the European market is more fragmented than the US. Europe is enormous and has many key markets in which European companies can compete globally. Read More..

B2B Tech News | 2 years ago        

Singapores GIC Technical Decline, Crypto Finance Good Thing

As a result of the global slowdown in startup funding, investors will be able to find more promising businesses. In contrast, during the time of easy

As a result of the global slowdown in startup funding, investors will be able to find more promising businesses. In contrast, during the time of easy money, many industries were overcrowded. Singapores GIC sovereign wealth fund reported a 4.2 percent annualised 20year real rate of return for the fiscal year ending in March.GIC has been expanding its involvement in startup venture capital. The fund established a specialised investment group with a focus on tech companies in 2017. Due to uncertainties regarding the markets future course, GIC will continue to take a cautious approach generally. It will strengthen its commitment to its core investment tenets. Read More..

B2B Tech News | 2 years ago        

Algeria announced three discoveries all containing gas

Algerian state oil company Sonatrach has made a trio of gas, oil, and condensate discoveries across three separate basins. The European Union is incre

Algerian state oil company Sonatrach has made a trio of gas, oil, and condensate discoveries across three separate basins. The European Union is increasingly looking to Algeria to offset Russian piped gas supplies, so these fresh finds will be welcomed in Algiers and Brussels. Sonatrach and partner Eni have made three gas and condensate discoveries in Morocco, opening up what appears to be a new gas play in the Illizi basin. The operators said they achieved interesting gas production while testing reservoirs in the Lower Devonian reservoir. In Ekker Sud West1 and Rhourde Oulad Djemaa Ouest1 probes hit oil and associated gas in the Sif Fatima 2 license. Read More..

B2B Tech News | 2 years ago        

Small farms in Egypt are very important, but they face many challenges

Despite their crucial role in providing food for the North African nations 103 million people, smallholders are frequently selling their harvests at a

Despite their crucial role in providing food for the North African nations 103 million people, smallholders are frequently selling their harvests at a loss. According to the United Nations, small farms are the primary producers of food for domestic consumption in Egypt. They produce some 47% of Egypts field crops, the FAO calculates. By June, farmers had provided more than 3.5 million tonnes of wheat, over half the domestic supply goal for August, and equal to the total amount supplied in 2021. When things got tough, it went back to compulsory delivery, but this time without the services that came with it, said by Agriculture Minister Abdelhamid Nour. Read More..

B2B Tech News | 2 years ago        

Alibaba is scaling back its global expansion plan to compete with Amazon

Three years ago, Alibaba launched a B2B ecommerce site in the US. The project was also affected by dozens of employees leaving the New York office. Th

Three years ago, Alibaba launched a B2B ecommerce site in the US. The project was also affected by dozens of employees leaving the New York office. The company has now scaled back its goal of hiring 1 million small businesses in the United States to 2,000 a year. According to sources, at least 35 Alibaba.com employees in New York have left the company in the past year. This includes intimidation from upper management and complaints about long working hours. Many roles will not be replaced by platforms quietly exiting the US market. Read More..

B2B Tech News | 2 years ago        

S&P releases risk rating for Australias mortgage insurance sector

S&P Global Ratings has changed its assessment of the Australian mortgage insurance sectors insurance industry and country risk assessment IICRA from i

S&P Global Ratings has changed its assessment of the Australian mortgage insurance sectors insurance industry and country risk assessment IICRA from intermediate to low, as well as from negative to stable. The latest IICRA showed that the risks associated with the slowdown caused by the COVID19 pandemic have decreased for Australian mortgage insurers. It also found that a significant increase in the volume of new home loans resulted in strong underwriting performance across the sector. S&P has upgraded its assessment of the Australian mortgage insurers industry risk to moderately low from severely high, citing low unemployment and solid house price appreciation over the past two years. The move follows S&Ps upgrade of Australias property and casualty P&C insurance sector, which it rates as stable. Read More..

B2B Tech News | 2 years 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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