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Ant Group Invests $3.26B in R&D, Signals Deepening AI and Fintech Focus

A record $3.26 billion 23.45 billion yuan was spent on research and development by Chinas Ant Group in 2024, the fourth year in a row that spending ha

A record $3.26 billion 23.45 billion yuan was spent on research and development by Chinas Ant Group in 2024, the fourth year in a row that spending has climbed. The funding, which was disclosed in its 2024 sustainability report, highlights Ants foray into fintech and artificial intelligence in the context of Chinas larger technological aspirations. Alipays parent business is now rebuilding following regulatory hurdles that prevented its 2020 initial public offering. Alibaba, Ants parent company, is rapidly expanding AI globally as well, investing $52 billion over three years on cloud and AI infrastructure. Ants R&D priorities complement Alibabas intentions to extend Qwen LLMs to international data centres as well as its alliances with Microsoft, Nvidia, and Siemens. This action demonstrates Chinas strategic focus on AI leadership and the modernisation of digital banking. Read More..

B2B Tech News | 2 months ago        

U.S.–China Sign Trade Pact Granting Rare Earth Access, Easing Tech Tensions

A recent trade agreement between the United States and China allows Chinese students to attend American institutions and gives American firms access t

A recent trade agreement between the United States and China allows Chinese students to attend American institutions and gives American firms access to rare earth materials. Following previous negotiations in Geneva and London that reduced tariff tensions, President Trump announced the agreement, which Commerce Secretary Howard Lutnick confirmed. While the U.S. will relax some limitations on Chinese nationals, China will speed up export certifications for rare earths, which are essential for technology and defence. Both sides referred to the agreement as "signed and sealed," but neither party provided exact volumes or deadlines. In light of the uncertain global economy, the agreement represents a major deescalation in trade hostilities and reflects shared efforts to stabilise supply chains and strengthen bilateral connections. Read More..

B2B Tech News | 2 months ago        

Piyush Goyal to Meet Exporters Amid May Decline and West Asia Tensions

On June 30, Commerce Minister Piyush Goyal will meet with exporters and business executives to discuss Indias export difficulties in the context of We

On June 30, Commerce Minister Piyush Goyal will meet with exporters and business executives to discuss Indias export difficulties in the context of West Asian tensions and continuing trade talks with the United States, United Kingdom, and European Union. Following a 2.17% drop in Mays goods exports, the government is aiming for $900 billion in exports in FY26. Freight costs, reciprocal tariffs, and trade disruptions—particularly with regard to the textile industry—will all be discussed. India depends on the Strait of Hormuz for its energy imports, and the ceasefire between Iran and Israel has reduced shipping dangers along this crucial route. Additionally, India is working to complete free trade agreements and prevent tariff increases before the July 9 reciprocaltariff suspension deadline. Read More..

B2B Tech News | 2 months ago        

Thai Finance Minister Heads to U.S. to Avert 36% Tariff on Exports

In an effort to avoid imposing a high 36% tariff on Thai exports, Thai Finance Minister Pichai Chunhavajira is visiting the United States for two days

In an effort to avoid imposing a high 36% tariff on Thai exports, Thai Finance Minister Pichai Chunhavajira is visiting the United States for two days of exchange discussions. There is urgency since a moratorium ends on July 9 and, if no new agreement is reached, the U.S. may slap even higher tariffs. Most countries are currently subject to a 10% tariff during the hiatus. It was hoped by Chunhavajira that Thailands rate would not be higher than that of other nations. The goal of Thai officials is to achieve better terms and prolong the negotiation window. For Thai exporters, the negotiations are crucial since a bad outcome might increase costs and reduce competitiveness in the already volatile world trade environment. Read More..

B2B Tech News | 2 months ago        

Canada Scraps Digital Services Tax to Revive U.S. Trade Talks Before July 21 Deadline

Days after President Trump halted trade negotiations in retribution for the Digital Services Tax DST, Canada has revoked the tax in an effort to resum

Days after President Trump halted trade negotiations in retribution for the Digital Services Tax DST, Canada has revoked the tax in an effort to resume talks with the United States. During the recent G7 Summit, Prime Minister Mark Carney and Trump decided to start talking again with the goal of reaching an agreement by July 21, 2025. The DST, a 3% tax on Canadian tech companies earnings, drew criticism for specifically targeting American corporations such as Apple, Google, Amazon, and Meta. The tax was scheduled to go into effect on June 30 and be paid retroactively beginning in January 2022. In an effort to establish a more comprehensive economic and security alliance, Canadas finance minister promised to propose legislation to repeal the DST. Read More..

B2B Tech News | 2 months ago        

World Bank Approves $1.5B Loan to Reboot South Africa’s Infrastructure and Economy

A $1.5 billion loan has been authorised by the World Bank for South Africa to promote a green energy transition and enhance its transport infrastructu

A $1.5 billion loan has been authorised by the World Bank for South Africa to promote a green energy transition and enhance its transport infrastructure. Due to inefficiencies and blackouts, vital industries including freight trains, ports, and electricity systems have long impeded economic progress. These sectors are the focus of the investment. The loan has advantageous terms that lower debtservicing expenses, such as a threeyear grace period. Amidst high unemployment and weak GDP estimates reduced to 1.4% for 2025, the South African government views this as a step towards inclusive growth and job creation. In line with a larger R1 trillion infrastructure plan, the investment shows the nations determination to combat corruption, enhance essential services, and stabilise its economy. Read More..

B2B Tech News | 2 months ago        

Ghana Approves $2.8B Debt Deal With 25 Nations to Unlock IMF Bailout Funds

In order to support its IMF bailout program and stabilise its economy, Ghanas parliament has passed a $2.8 billion debt restructuring agreement with 2

In order to support its IMF bailout program and stabilise its economy, Ghanas parliament has passed a $2.8 billion debt restructuring agreement with 25 creditor countries, including China, France, the United States, and the United Kingdom. The G20 Common Framework agreement postpones debt service payments that were due in December 2022 to December 2026, with repayments taking place in 2039–2023. Ghana has belowmarket borrowing costs thanks to interest rates that were set between 1% and 3%. The agreement comes after Ghana defaulted in 2022 and an IMF bailout of $3 billion was authorised in 2023. The measure was unanimously supported by lawmakers, who hailed it as essential to reestablishing macroeconomic stability. Afreximbank and other commercial creditors are continuing to work with Ghana in order to complete the larger restructuring process. Read More..

B2B Tech News | 2 months ago        

Microsoft, OpenAI Clash Over AGI Clause as $10B Partnership Faces Strain

According to reports, Microsoft and OpenAI are at odds over a provision related to the development of artificial general intelligence AGI. The Informa

According to reports, Microsoft and OpenAI are at odds over a provision related to the development of artificial general intelligence AGI. The Information reports that OpenAIs agreement permits it to deny Microsoft access to its models in the event that it announces the achievement of artificial general intelligence AGI, a clause that Microsoft wishes to be eliminated. Microsoft views this clause as a threat to its strategic interests, having invested over $10 billion and incorporated OpenAIs technology into Office and Azure products. In the meantime, OpenAI is having trouble becoming a publicbenefit corporation, which calls for Microsofts approval. Both businesses openly uphold their "longterm, productive partnership" in spite of the impasse. As both businesses compete to dominate the next stage of AI development, the issue indicates rising commercial conflict. Read More..

B2B Tech News | 2 months ago        



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