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Nigeria’s Economy Grows 3.84% in Q4 2024, Fastest in Three Years

Nigerias GDP expanded by 3.84% year over year in Q4 2024, its most significant growth in three years, mainly due to a 5.37% increase in the services s

Nigerias GDP expanded by 3.84% year over year in Q4 2024, its most significant growth in three years, mainly due to a 5.37% increase in the services sector. Although it was still less than President Bola Tinubus 6% goal, this helped the GDP increase by 3.40% annually, up from 2.74% in 2023. Nigeria intends to rebase its GDP to account for the expansion of new industries, including tourism, ecommerce, and information technology. The industrial sector expanded by 2.00% and agriculture by 1.76%, while oil production stayed steady at 1.54 million barrels per day. Nigerias GDP is expected to grow by 3.2% in 2025, according to IMF projections. Read More..

B2B Tech News | 3 months ago        

Botswana Secures Landmark Diamond Sales Deal with De Beers

After seven years of discussions, Botswana and De Beers have finally reached a historic diamond sales agreement. With a possible extension to a 50/50

After seven years of discussions, Botswana and De Beers have finally reached a historic diamond sales agreement. With a possible extension to a 50/50 split, the agreement raises Botswanas percentage of Debswanas diamond sales from 30% in the first five years to 40% in the following five. De Beers obtained a 25year extension of the mining licence until 2054 in exchange. Botswanas economy depends heavily on diamonds, accounting for 80% of exports and 25% of GDP, but a decline has hampered growth in demand and prices. President Duma Bokos new administration views this agreement as a step towards economic stability. Debswanas sales fell more than 50% in 2024 despite significant discoveries, such as a 2,492carat diamond in 2023, highlighting the necessity of economic diversification. Read More..

B2B Tech News | 3 months ago        

Australia Launches $16M Trade Accelerator Fund to Boost India Ties

Australia has established a $16 million AustraliaIndia Economic and Investment Accelerator Fund to improve economic relations with India, emphasising

Australia has established a $16 million AustraliaIndia Economic and Investment Accelerator Fund to improve economic relations with India, emphasising sustainable energy, tourism, agribusiness, and education. The plan lists fifty engagement opportunities to enhance IndoPacific economic cooperation. An extra $4 million has been set up for the Maitri Grants program to strengthen business and cultural relationships. Australias commercial diversification depends on India, Prime Minister Anthony Albanese stressed. By the end of the year, the program will have reduced $2 billion in tariffs and saved businesses millions of dollars under the current free trade deal. Additionally, Australia is moving on with trade negotiations for a new agreement to increase investment opportunities and strengthen strategic and economic links in the IndoPacific. Read More..

B2B Tech News | 3 months ago        

BlackRock Reevaluates Australia Strategy Amid Weak Growth, High Valuations

Due to stretched valuations and sluggish growth, BlackRock, the largest asset manager in the world, is reevaluating its focus on Australia in favour o

Due to stretched valuations and sluggish growth, BlackRock, the largest asset manager in the world, is reevaluating its focus on Australia in favour of economies like the United States and Japan. Katie Petering, head of investment strategy for Australia and New Zealand at BlackRock, identified global volatility and unpredictability as the main justifications for portfolio diversification. The company maintains an overweight position in U.S. stocks and finds Japan appealing because of its business reforms and inflationdriven pricing power. Australias economic prognosis is deteriorating, and valuations are losing their appeal. Given the tight labour market, BlackRock backs the Reserve Bank of Australias cautious approach to rate decreases. Among the companies the company owns in Australia are Commonwealth Bank, BHP, and CSL. Read More..

B2B Tech News | 3 months ago        

Salesforce Misses Revenue Forecasts for 2026, Shares Drop 5%

Salesforces shares fell 5% in extended trading after the company reported fiscal 2026 sales below Wall Street forecasts because of the delayed adoptio

Salesforces shares fell 5% in extended trading after the company reported fiscal 2026 sales below Wall Street forecasts because of the delayed adoption of its AIpowered Agentforce platform. The companys revenue forecast falls short of analysts $41.35 billion estimate, coming in between $40.5 billion and $40.9 billion. Adjusted earnings per share are expected at $11.09–$11.17, somewhat below estimates. With enterprises cautious due to high interest rates, analysts stress that Agentforces success is critical for Salesforces return to doubledigit growth. The business posted Q4 revenue of $9.99 billion, missing the $10.04 billion target. Salesforce is up against fierce competition from Amazon and Microsoft as AI agents surpass chatbots thus, its AI strategy is essential to its future expansion. Read More..

B2B Tech News | 3 months ago        

Bidcorp Reports 6% Profit Growth, Boosted by Strong Festive Season

A stronger festive season in Q2 helped Bidcorp, an international food services firm based in South Africa, report a 6% increase in halfyear profitabil

A stronger festive season in Q2 helped Bidcorp, an international food services firm based in South Africa, report a 6% increase in halfyear profitability and a 3.6% increase in revenue to 117.9 billion rand. At 12.21 rand, headline profits per share HEPS increased by 10% in constant currency. The firm announced an interim dividend of 5.6 rand per share, up 6.7% over the previous year. Trading profit increased 6.8% to 6.3 billion rand despite low food inflation and poor consumer demand. Despite severe weather and economic difficulties, its European segment—the largest by revenue and profit—performed well. Read More..

B2B Tech News | 3 months ago        

OCBC Reports 4% Rise in Q4 Profit, Below Expectations Shares Drop

Despite reporting a lowerthanexpected 4% increase in Q4 net profit to S$1.69 billion, OCBC, Singapores secondlargest bank, announced a S$2.5 billion $

Despite reporting a lowerthanexpected 4% increase in Q4 net profit to S$1.69 billion, OCBC, Singapores secondlargest bank, announced a S$2.5 billion $1.87 billion capital return. The bank anticipates Southeast Asia will continue to be resilient while warning of an uncertain global environment brought on by U.S. trade tariffs. OCBC predicts a net interest margin drop to about 2% from 2.2% and midsingledigit loan growth in 2025, down from 8% in 2024. Special dividends and share buybacks spread over two years are included in its capital return. On the announcement, OCBC shares fell as much as 2.8%, in contrast to peers DBS and UOB, who reported better profits. Read More..

B2B Tech News | 3 months ago        

Tata Capital Plans IPO by September, Marking Tata Group’s Latest Market Entry

In an initial public offering IPO, Tata Capital, the financial services division of the $165 billion Tata Group, will issue 230 million new shares whi

In an initial public offering IPO, Tata Capital, the financial services division of the $165 billion Tata Group, will issue 230 million new shares while allowing current shareholders to sell their holdings. By September 2024, "upper layer" nonbanking financial enterprises must be listed, as required by the Indian Central Bank. Given that Tata Technologies went public in November 2023, this will be the first IPO of the Tata Group. In March 2024, Tata Sons owned 92.8% of Tata Capital, which was founded in 2007 and provides a range of lending products. The corporation has also approved a rights offer of ₹15.04 billion $173 million. Additional IPO information has not yet been made public. 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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