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Suez Canal Revenues Plummet by $7 Billion in 2024 Amid Regional Turmoil

President Abdel Fattah alSisi claimed that Egypts earnings from the Suez Canal had fallen by over $7 billion in 2024. Compared to 2023, this represent

President Abdel Fattah alSisi claimed that Egypts earnings from the Suez Canal had fallen by over $7 billion in 2024. Compared to 2023, this represents a startling drop of more than 60% nevertheless, Sisi did not elaborate on the circumstances that resulted in this loss. The significant decline in revenue is ascribed to persistent regional issues, specifically the over 100 strikes on ships in the Red Sea that Yemeni Houthi fighters have carried out since November. Amid the protracted conflict in Gaza, these attacks carried out in sympathy with Palestinians, have forced shipping corporations to divert ships across Africa rather than via the canal. Due to this diversion, international trade has been affected, resulting in higher shipping costs and delivery delays. Read More..

B2B Tech News | 25 days ago        

Bank of Japan Forecasts Potential $13 Billion Loss Amid Plans to Raise Interest Rates

According to projections released by the Bank of Japan, if shortterm borrowing prices increase to 2%, it might experience a shortterm loss of up to $1

According to projections released by the Bank of Japan, if shortterm borrowing prices increase to 2%, it might experience a shortterm loss of up to $13 billion. According to this prediction, published in a recent study, the BOJ plans to raise shortterm interest rates gradually to 0.25%, which is considered neutral for the economy. The projections indicate that the BOJ may experience a yearly net loss of roughly 2 trillion yen in fiscal years 2027 and 2028 if shortterm rates rise to 2% with a widening yield differential. Earnings are anticipated to increase by fiscal 2031, though. After 10 years of heavy stimulus, the BOJ is pursuing sustainable inflation targets, tightening policy, and cutting bond purchases. Read More..

B2B Tech News | 25 days ago        

South Korea’s Exports Surge 4.0% in December, Marking 15th Month of Growth

According to a Reuters survey, South Koreas exports are expected to have grown by 4.0% in December, continuing their 15th straight month of growth. Th

According to a Reuters survey, South Koreas exports are expected to have grown by 4.0% in December, continuing their 15th straight month of growth. This comes after Novembers 1.4% increase. Despite this encouraging development, economists predict that possible U.S. tariffs will slow down export momentum in the upcoming year, significantly harming South Koreas crucial commercial connection with China. Some manufacturers are cutting production due to uncertainty surrounding trade policies following Donald Trumps election. The overall demand for South Korean goods is anticipated to decline despite the continued strength of semiconductor exports. In addition, a 4.6% increase in imports is expected, and a $4.21 billion trade surplus is projected for December. Read More..

B2B Tech News | 25 days ago        

Russia Embraces Bitcoin for International Payments Amid Western Sanctions

"Recent legislative changes aimed at countering Western sanctions have led to an increase in the use of bitcoin and other digital currencies for inter

"Recent legislative changes aimed at countering Western sanctions have led to an increase in the use of bitcoin and other digital currencies for international payments by Russian companies," said Finance Minister Anton Siluanov. Sanctions have hampered Russias trade with essential allies like China and Turkey, as local banks are cautious about dealing with Russia to evade regulatory attention from the West. During this year, Russia established itself as a global leader in bitcoin mining by legalising cryptocurrencies in international trade and taking steps to control cryptocurrency mining. "Transactions using mined bitcoins are already happening and are anticipated to grow even more in the upcoming year," Siluanov said. Vladimir Putin has also supported cryptocurrencies, pointing to the US dollars deteriorating reserve currency role due to political abuse. Read More..

B2B Tech News | 26 days ago        

Indian Exporters Set to Capitalize on U.S. Market Amid Rising Tariffs on Chinese Goods

Anticipating higher duties on Chinese goods, Indian exporters are proactively preparing to strengthen their position in the U.S. market. With assistan

Anticipating higher duties on Chinese goods, Indian exporters are proactively preparing to strengthen their position in the U.S. market. With assistance from American trade associations, discussions with the Indian government centre on utilising prospects in industries like textiles, leather, chemicals, electronics, auto parts, and toys to increase consumer awareness of Indian goods. The Federation of Indian Export Organisations FIEO vicepresident, Israr Ahmed, underlined Indias ability to compete in these fields and the $1 billion potential toy market. To increase competitiveness, exporters are asking for increased financial assistance, primarily through the Market Access Initiatives program, easier access to export financing, and more extended interest equalisation plans. India is wellpositioned as tensions between the United States and China increase because of the countrys solid U.S. connections and political stability. Read More..

B2B Tech News | 26 days ago        

India Secures $350 Million Loan from ADB to Strengthen Logistics Ecosystem

Under the second subprogram of the Strengthening Multimodal and Integrated Logistics Ecosystem SMILE initiative, the Indian government and the Asian D

Under the second subprogram of the Strengthening Multimodal and Integrated Logistics Ecosystem SMILE initiative, the Indian government and the Asian Development Bank ADB have agreed to a policybased loan of USD 350 million. This loan aims to strengthen supply chain resilience and Indias industrial sector. The ADB, the Department for Promotion of Industry and Internal Trade, and the Department of Economic Affairs reached the agreement. With an emphasis on comprehensive logistical reforms, the SMILE program creates a framework of policies to improve infrastructure development and efficiency at the federal, state, and local levels. Ultimately, it seeks to drive sustainable economic growth and job creation in India by standardising warehouse and logistics assets, encouraging private investment, and integrating intelligent systems. Read More..

B2B Tech News | 26 days ago        

Sheikh Hasina’s Son Calls Corruption Allegations Against Rooppur Nuclear Project “Bogus”

The son and advisor of Sheikh Hasina has called accusations of wrongdoing about the $12.65 billion deal for the Rooppur Nuclear Power Plant in 2015 "w

The son and advisor of Sheikh Hasina has called accusations of wrongdoing about the $12.65 billion deal for the Rooppur Nuclear Power Plant in 2015 "wholly false" and a "smear campaign." The Bangladesh AntiCorruption Commission opened a $5 billion investigation into allegations of financial irregularities involving Hasina, her son Sajeeb Wazed, and her niece Tulip Siddiq. The projects sponsor, Russian stateowned Rosatom, also denied the accusations, reaffirming its dedication to openness and honesty in its business practices. Wazed underlined that it would be challenging to embezzle billions of dollars from the project and that the family has never been connected to any irregularities in government project funding. Hasina, meanwhile, is still in New Delhi after escaping Bangladesh due to political turmoil. Read More..

B2B Tech News | 26 days ago        

Stellantis to Pay $4.2 Million Settlement for Excess Emissions in California

To settle a California inquiry into excessive emissions from specific diesel vehicles, Stellantis affiliate FCA US has agreed to pay $4.2 million. The

To settle a California inquiry into excessive emissions from specific diesel vehicles, Stellantis affiliate FCA US has agreed to pay $4.2 million. The settlement resolves violations related to Ram ProMaster 1500, 2500, and 3500 models with 3.0L diesel engines manufactured from 2014 to 2016 that had an unapproved device that evaded emissions controls and released almost 55 tonnes of excess nitrogen oxides, according to the California Air Resources Board CARB. In addition to $2.1 million to support a project encouraging slower cargo vessel speeds for the benefit of wildlife and air quality, the settlement includes more than $2 million in civil fines for the states Air Pollution Control Fund. Additionally, Stellantis will change the emissions control systems of the impacted vehicles through a recall. Read More..

B2B Tech News | 26 days ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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