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Samsung SDI and GM Finalize $3.5 Billion EV Battery Factory in Indiana

A deal to construct a combined electric vehicle EV battery facility in Indiana, USA, was finalised by General Motors GM and Samsung SDI of South Korea

A deal to construct a combined electric vehicle EV battery facility in Indiana, USA, was finalised by General Motors GM and Samsung SDI of South Korea. A facility that can initially produce 27 gigawatt hours GWh and potentially expand to 36 GWh will be funded by a $3.5 billion investment. Expected to start in 2027, the factory will add to GMs battery technology portfolio by producing prismatic cells rich in nickel. After the announcement, Samsung SDIs shares increased by 3.2%, while the KOSPI fell by 0.3%. This project represents continuous attempts to improve the performance and manufacture of EV batteries. It was first announced in April 2023. Read More..

B2B Tech News | 4 months ago        

Comoros Joins WTO After 17Year Negotiation Process, Becoming 165th Member

Comoros is the 165th World Trade Organisation WTO member, having formally joined after 17 years of talks. Comoros aspirations for regional integration

Comoros is the 165th World Trade Organisation WTO member, having formally joined after 17 years of talks. Comoros aspirations for regional integration in Africa are bolstered by this milestone, which WTO members accepted in February. WTO DirectorGeneral Ngozi OkonjoIweala views it as a critical chance for modernisation and economic empowerment. Given the importance of agriculture to Comoros economy, the country must fulfil its obligations, including enforcing zero agricultural export subsidies to integrate fully. Europe and the United Arab Emirates are Comoros two main commercial partners. The process of negotiating 22 nations WTO entrance, including eight African nations, is currently ongoing. Read More..

B2B Tech News | 4 months ago        

Nvidia’s Q2 Revenue Forecasted at $28.68 Billion, Doubling Previous Figures

Driven by rising demand for its AI processors, Nvidia NVDA.O is likely to announce a more than 100% gain in its secondquarter revenue, projected to re

Driven by rising demand for its AI processors, Nvidia NVDA.O is likely to announce a more than 100% gain in its secondquarter revenue, projected to reach approximately $28.68 billion. Investor worries about living up to lofty expectations and possible delays in its nextgeneration Blackwell AI processors have caused volatility despite the companys shares rising 150% this year. Above the industry average, the companys stock is priced at 37 times its projected profits. Nvidia also has to deal with regulatory difficulties about its sales methods and possible antitrust issues. Analysts will be keenly watching Nvidias sales prediction for the third quarter, expected to increase by 75% to $31.69 billion, to assess the companys capacity to overcome these obstacles and maintain growth. Read More..

B2B Tech News | 4 months ago        

China Allocates $15 Billion for Western Pacific Military Exercises in 2023

Taiwanese estimates indicate that in 2023, China spent around $15 billion, or 7% of its defence budget, on military drills in the Western Pacific. Bei

Taiwanese estimates indicate that in 2023, China spent around $15 billion, or 7% of its defence budget, on military drills in the Western Pacific. Beijings aim to strengthen its military presence around Taiwan and its neighbouring territories is reflected in this enormous spending. According to data gathered from Chinese air and naval operations, this expenditure accounts for almost 85% of Taiwans defence budget for 2023. With more than 29,000 hours of flight time and 1.7 million hours at sea, Chinas military engages in massive air and naval operations. The additional spending is intended to prepare for future wars, particularly those involving Taiwan, and to establish control over the First Island Chain. The reports from Taiwan draw attention to Chinas determination to enhance its military might and the escalating tensions in the area. Read More..

B2B Tech News | 4 months ago        

Indonesian Banks to Reveal Detailed Lending Rates Under New OJK Regulation

Under a new Financial Services Authority regulation, Indonesian banks must start disclosing a comprehensive breakdown of their lending rates, includin

Under a new Financial Services Authority regulation, Indonesian banks must start disclosing a comprehensive breakdown of their lending rates, including margins, in October OJK. This rule seeks to safeguard fair borrowing rates and boost industry competitiveness by encouraging efficiency and openness in interest rate setting. President Joko Widodo criticised excessive bank profits, arguing they impeded loan growth. The OJK took action in response. At 4.57%, Indonesian banks now have Southeast Asias most significant net interest margin. Banks are subject to fines of up to 15 billion rupiah $970,000 for failing to provide clients with uptodate rate information and disclose risk premiums to the OJK monthly under the new legislation. Read More..

B2B Tech News | 4 months ago        

Meta Platforms Secures Geothermal Power Deal to Boost U.S. Data Centers for AI Expansion

Meta Platforms has agreed with Sage Geosystems to buy geothermal electricity for its U.S. data centres to support its growing artificial intelligence

Meta Platforms has agreed with Sage Geosystems to buy geothermal electricity for its U.S. data centres to support its growing artificial intelligence infrastructure. The 150megawatt project, expected to start in 2027, will significantly increase the United States geothermal energy usage. It will be east of the Rocky Mountains, while the exact site is still in the air. The Biden administrations push for investments in clean energy in light of the growing need for power due to artificial intelligence technology aligns with this agenda. With support from Chesapeake Energy and Nabors Industries, the geothermal project will be Sages most extensive to date. With AI workloads requiring significant data centre improvements, Meta is expected to incur additional capital expenditures of $37–40 billion by 2024. Read More..

B2B Tech News | 4 months ago        

Didi Global Negotiates $70 Million Sale of Smart Driving Assets to AutoAi

In an agreement worth around 500 million yuan $70 million, Chinas Didi Global is negotiating to sell its intelligent driving and cockpit assets to Aut

In an agreement worth around 500 million yuan $70 million, Chinas Didi Global is negotiating to sell its intelligent driving and cockpit assets to AutoAi, a division of statebacked digital mapping company NavInfo. After a problematic regulatory phase, Didi intends to return its attention to its core ridehailing business. As a result of the deal, Didi will become a significant stakeholder in AutoAi after contributing more than 200 million yuan to the business. This action follows Didis prior $744 million sale to Xpeng of its EV development division. The arrangement, anticipated to be disclosed soon, might affect 200–300 workers while strengthening Didis alliance with AutoAi and NavInfo. Read More..

B2B Tech News | 4 months ago        

Philippine Tank Storage International Mulls Strategic Investor for $500 Million Petroleum Facility

The owners of Philippine Tank Storage International are considering the potential of attracting a strategic investor for their $500 million or more bi

The owners of Philippine Tank Storage International are considering the potential of attracting a strategic investor for their $500 million or more big petroleum storage facility located in the Philippines. Metro Pacific Investments Corp. of the Philippines and Keppel Infrastructure Trust of Singapore are both exploring the transaction. In 2020, they bought a Philippine tank together for $334 million, and it runs the Philippine Coastal Storage & Pipeline Corp. At the moment, Keppel Infrastructure Trust has a slightly higher voting share than the other entity, although both have equal stakes. Talking with possible investors is still underway to grow the company and realise the assets worth. With a 40% improvement in EBITDA since the acquisition, the facility—which is situated on former U.S. military bases—can hold six million barrels of petroleum. Read More..

B2B Tech News | 4 months ago        



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