BUSINESS NEWS
India Delays Implementation of Digital Payments Market Share Caps to December 2026
Walmartsupported Google Pay and PhonePe have benefited from India delaying the introduction of market share caps for digital payments. The National Pa
Walmartsupported Google Pay and PhonePe have benefited from India delaying the introduction of market share caps for digital payments. The National Payments Corporation of India NPCI said that the new cap, originally scheduled to go into effect at the end of 2024, will start in December 2026 and limit corporations to a 30% share of the unified payments interface UPI transaction volume. With a combined processing volume of 13.1 billion transactions in November, PhonePe currently enjoys a 47.8% market share, while Google Pay accounts for 37%. The purpose of the postponement is to encourage the expansion of the UPI ecosystem and give other participants more opportunities to increase their market share. B2B Tech News | 4 months ago
U.S. SEC Approval of Spot Price ETFs Fuels Bitcoin Price Surge
Due to the U.S. SECs approval of exchangetraded funds ETFs linked to its spot price and increased confidence about regulatory changes with Donald Trum
Due to the U.S. SECs approval of exchangetraded funds ETFs linked to its spot price and increased confidence about regulatory changes with Donald Trump expected to return to the presidency, the cost of Bitcoin surged over 120% in 2024, topping $100,000 for the first time. With researchers projecting that Bitcoin might reach $200,000 by the end of 2025, this spike has increased the overall worth of the cryptocurrency sector to over $3.5 trillion. MicroStrategys largest corporate Bitcoin holder saw its shares roughly fivefold increase, and other businesses started investing in the cryptocurrency. However, growing energy costs presented difficulties for some cryptocurrency miners, resulting in significant losses for companies such as Marathon Digital and Riot Platforms. B2B Tech News | 4 months ago
New Year’s Day Marks End of Russian Gas Exports Through Ukraine Pipelines
After decades of reliance on Russian supplies, Europes energy landscape dramatically changed on New Years Day when Russian gas deliveries through Sovi
After decades of reliance on Russian supplies, Europes energy landscape dramatically changed on New Years Day when Russian gas deliveries through Sovietera pipelines in Ukraine were stopped. Although the gas continued to flow during the ongoing conflict, Gazprom announced the halt after Ukraine refused to renew a transit agreement. The halt has affected areas like Transdniestria that depend on these supplies for heating, even though EU countries had planned for this cutoff by securing alternate sources, such as gas from Norway and liquefied natural gas LNG from Qatar and the U.S. As the EU looks to assist Moldova throughout this energy transition, Ukrainian President Zelenskiy referred to the transits termination as a significant setback for Moscow and urged more U.S. gas supplies to Europe. B2B Tech News | 4 months ago
Malaysia Grants Operating Licenses to WeChat and TikTok Under New Social Media Law
Under a new social media regulation that went into effect on January 1st and was intended to curb the rise in cybercrime, Malaysias communications reg
Under a new social media regulation that went into effect on January 1st and was intended to curb the rise in cybercrime, Malaysias communications regulator has granted operating licenses to Tencents WeChat and ByteDances TikTok. According to this regulation, messaging apps and social media sites with more than 8 million users in Malaysia must obtain a licence or risk legal repercussions. According to the Malaysian Communications and Multimedia Commission, Meta Platforms has initiated the licensing application procedure, while Telegram is nearing completion. Notably, X previously Twitter did not apply for a licence, arguing its local user base was insufficient. This assertion is presently being investigated. YouTube, a subsidiary of Google, has likewise not applied because of legal classification issues. B2B Tech News | 4 months ago
India’s Exports Set to Exceed USD 814 Billion in 2024, Reports GTRI
According to the Global Trade Research Initiative GTRI, Indias total exports of goods and services are expected to approach USD 814 billion in 2024, a
According to the Global Trade Research Initiative GTRI, Indias total exports of goods and services are expected to approach USD 814 billion in 2024, a 5.58% growth from USD 768.5 billion in 2023. It is projected that services exports will rise by 10.31% to USD 372.3 billion, while merchandise exports will reach USD 441.5 billion, a slight increase of 2.34%. According to the research, Indias export market is changing, with traditional industries like textiles and jewels losing ground to expanding shares in electronics and machinery. However, issues persist because of supply chain weaknesses, geopolitical concerns, and slow growth in global trade. B2B Tech News | 4 months ago
Germany Urged to Boost Defense Spending to 3% of GDP by Hensoldt CEO
Oliver Doerre, CEO of the defence electronics company Hensoldt, suggested that Germany raise its defence budget to 3% of its GDP. He stressed in an in
Oliver Doerre, CEO of the defence electronics company Hensoldt, suggested that Germany raise its defence budget to 3% of its GDP. He stressed in an interview the necessity of increased military capabilities, such as more ships, tanks, and aeroplanes, to ward off threats from countries like Russia. Though he supports a constitutional commitment of 3% for at least ten years, Doerre expects the German government to maintain a minimum defence expenditure of 2% of GDP. He underlined worries that by 2028 or 2029, Russia would threaten NATO, emphasising the need for Europe to strengthen its deterrence capabilities. In addition, Hensoldt is investigating defence industry collaborations and participating in the European Sky Shield Initiative. B2B Tech News | 4 months ago
Brazil’s Central Bank Leadership Shift Gabriel Galipolo Takes Office
With the arrival of Gabriel Galipolo as the new head of the central bank, relations between the central bank and President Luiz Inacio Lula da Silva o
With the arrival of Gabriel Galipolo as the new head of the central bank, relations between the central bank and President Luiz Inacio Lula da Silva of Brazil are strengthening. Former Jair Bolsonaro appointee Roberto Campos Neto is replaced with Galipolo, a former deputy finance minister with more leftleaning economic ideas. Though Lula commends Galipolo and pledges fiscal restraint, worries about possible changes in monetary policy persist, particularly given that Lulas appointees will control most of the banks ratesetting committee. Given previous cases where political pressure impacted monetary choices, analysts are concerned that Galipolos strong relationship with Lula may jeopardise the banks independence. The difficulty will be striking a balance between growth and the required monetary discipline as Brazils state debt increases. B2B Tech News | 4 months ago
Brazilian Government Targets Discounts in Railway Contracts with Vale
According to a recent securities filing, Brazilian miner Vale has agreed to pay local authorities up to 11 billion reais $1.78 billion to rework two r
According to a recent securities filing, Brazilian miner Vale has agreed to pay local authorities up to 11 billion reais $1.78 billion to rework two railway concession contracts. The Brazilian government will eliminate discounts given to rail businesses during the previous administration, which enabled some corporations to obtain early contract renewals. The concessions for the Carajas and Vitoria a Minas railways were renegotiated in 2020 with general terms agreed upon by Vale, the government, and the land transport authority ANTT. The concessions were extended through 2057. The deal, awaiting other clearances, will raise Vales railway concession obligations by 1.7 billion reais. B2B Tech News | 4 months agoGet The News to use newsletter to
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