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Nigeria’s Senate Approves Major Tax Reforms, Raising VAT to 12.5%

An important step towards overhauling fiscal policy has been taken with the passage of four tax reform proposals by Nigerias Senate, aimed at increasi

An important step towards overhauling fiscal policy has been taken with the passage of four tax reform proposals by Nigerias Senate, aimed at increasing government revenue. Despite concerns that these measures might exacerbate financial hardship, they include raising the valueadded tax VAT from 7.5% to 12.5%. Additionally, by reforming the collection of royalty and petroleum profit taxes, the bills establish the Nigeria Revenue Service. Nigeria continues to rely on borrowing to finance its budget, as its taxtoGDP ratio remains low at 10.8%. Before being forwarded to President Bola Tinubu for final approval, the Senates passage must be harmonised with that of the House of Representatives. Read More..

B2B Tech News | 12 days ago        

India and EU Advance FTA Talks, Targeting Swift Pact Conclusion

In a bid to swiftly complete the first phase of the agreement, India and the European Union EU have initiated the eleventh round of Free Trade Agreeme

In a bid to swiftly complete the first phase of the agreement, India and the European Union EU have initiated the eleventh round of Free Trade Agreement FTA negotiations. Given the uncertainty surrounding global trade, both parties have opted for a twophase approach, aiming to conclude negotiations by 16 May, focusing on market access, services, investment, and government procurement. India seeks zero tariffs on labourintensive goods, whereas the EU is advocating for duty reductions on cars, medical items, wines, and spirits. To expedite discussions, Commerce Minister Piyush Goyal recently met with EU officials in Brussels. If finalised, the agreement could boost Indian exports of textiles, steel, and pharmaceuticals. Read More..

B2B Tech News | 12 days ago        

China’s CATL Targets $4 Billion in Hong Kong IPO for Global Expansion

Among the largest initial public offerings IPOs in Hong Kong this year, the Chinese battery giant CATL is expected to raise at least $4 billion throug

Among the largest initial public offerings IPOs in Hong Kong this year, the Chinese battery giant CATL is expected to raise at least $4 billion through its listing. With trading set to commence on 20 May, the company intends to sell 117.9 million shares at a maximum price of HK$263 each. The funds will contribute to CATLs international expansion, which includes the construction of a battery facility in Hungary expected to create 10,000 jobs. Cornerstone investors, including Sinopec and the Kuwait Investment Authority, have pledged $2.6 billion in connection with the IPO. However, due to geopolitical concerns, U.S. investors are prohibited from participating. Read More..

B2B Tech News | 12 days ago        

U.S. and China Resume HighStakes Trade Talks in Geneva Amid Tariff Standoff

After imposing duties of over 100% on each others goods, senior U.S. and Chinese officials have commenced trade talks in Geneva with the aim of defusi

After imposing duties of over 100% on each others goods, senior U.S. and Chinese officials have commenced trade talks in Geneva with the aim of defusing the situation. They are meeting in person for the first time since the tariff impasse, with U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng leading the discussions. President Donald Trump described the talks as a "total reset," suggesting positive progress, despite no immediate breakthroughs being announced. The villa of Switzerlands UN ambassador was chosen as a neutral venue for the talks. Read More..

B2B Tech News | 12 days ago        

Malawi’s Central Bank Holds Interest Rate at 26% to Combat Inflation Above 30%

Due to the necessity of a strict monetary strategy to prevent inflation from exceeding 30%, Malawis central bank has maintained its key lending rate a

Due to the necessity of a strict monetary strategy to prevent inflation from exceeding 30%, Malawis central bank has maintained its key lending rate at 26.0%. This decision was made amidst economic uncertainty, poor agricultural output, and a scarcity of dollars, all of which have fostered a thriving illicit foreign exchange market. After downgrading its forecast for economic growth from 4.0% to 3.2%, the Reserve Bank of Malawi attributed the slowdown to prolonged dry spells and delayed rainfall. By keeping the policy rate unchanged since February 2024, the Monetary Policy Committee MPC affirmed that the current stance is sufficiently stringent to reduce inflation. Read More..

B2B Tech News | 15 days ago        

Pakistan Seeks $1.3 Billion IMF Loan After India’s Retaliatory Strikes

Citing significant losses due to Indias retaliatory strikes, Pakistans Economic Affairs Division has requested additional loans from foreign lenders.

Citing significant losses due to Indias retaliatory strikes, Pakistans Economic Affairs Division has requested additional loans from foreign lenders. This appeal comes ahead of a crucial IMF meeting where Pakistans request for a $1.3 billion loan will be discussed. Officials later denied posting the loan request, claiming their X account had been hacked. India has questioned the effectiveness of Pakistans previous bailout packages and urged the IMF to act with caution. Before making decisions on loan disbursements or policy changes, the IMF board will assess Pakistans economic performance. Read More..

B2B Tech News | 15 days ago        

Bhutan Becomes First Nation to Launch National Crypto Tourism Payment System

In collaboration with Binance Pay and DK Bank, Bhutan has launched a nationwide cryptocurrency tourism payment system that allows visitors to use cryp

In collaboration with Binance Pay and DK Bank, Bhutan has launched a nationwide cryptocurrency tourism payment system that allows visitors to use cryptocurrency to pay for local shops, flights, accommodation, and visas. The programmes objectives are to reduce currency exchange costs and enhance payment accessibility, particularly for small business owners and regional artisans. Travellers can utilise over 100 cryptocurrency assets, including Bitcoin BTC, USDC, and Binances BNB. DK Bank manages instant cryptocurrencytofiat transfers. Bhutan was the first nation to implement cryptocurrency payments on a national scale, thanks to the technology, which ensures realtime confirmations and minimal transaction fees. Read More..

B2B Tech News | 15 days ago        

Bain Capital to Exit China’s Data Center Market Amid Global Investment Shift

Bain Capital, which is likely worth over $4 billion, is preparing to sell its data centre business in China. In recent months, the firm has engaged fi

Bain Capital, which is likely worth over $4 billion, is preparing to sell its data centre business in China. In recent months, the firm has engaged financial advisers and held initial discussions with potential buyers. Previously part of Chindata Group, which Bain Capital acquired in 2023 for $3.16 billion, the company is now operating under the WinTriX DC Group name. This transaction comes at a time when valuations in the data centre industry are increasing due to the demand for cloud computing and the growth of AI. Analysts suggest that as Chinas hyperscale data centre expansion slows, Bain Capital is shifting its focus to overseas ventures. Read More..

B2B Tech News | 15 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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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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