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Saudi Aramco’s Digital Arm in Talks to Invest $1 Billion in U.S. Telecom Company Mavenir

Aramco Digital, Saudi Aramcos digital division, is negotiating a $1 billion investment for a sizable minority position in Mavenir, a U.S.based provide

Aramco Digital, Saudi Aramcos digital division, is negotiating a $1 billion investment for a sizable minority position in Mavenir, a U.S.based provider of telecom software. Aiming to diversify its economy and invest in technology, Saudi Arabias Vision 2030 strategy includes this deal, which could value Mavenir at over $3 billion. Costeffective mobile network solutions are promised by Mavenirs groundbreaking work with Open Radio Access Network Open RAN technology, which is discussed. The possible investment from Aramco Digital would also involve a $200 million joint venture for regional technological development. To solidify its position in developing 5G and 6G networks, Aramco is making its first significant move in the telecom sector. Read More..

B2B Tech News | 8 months ago        

Kenya Cancels MultiMillion Dollar Deals with Adani Group Amid Investigation Fallout

President William Ruto of Kenya declared on Thursday that multimilliondollar agreements with Indian businessman Gautam Adani, particularly those about

President William Ruto of Kenya declared on Thursday that multimilliondollar agreements with Indian businessman Gautam Adani, particularly those about energy projects and airport expansion, had been cancelled. The president did not elaborate on the fresh material from partner countries and investigation agencies, but it suggested U.S. involvement. Due to worries about working conditions and job losses, the Adani Group was negotiating a deal to modernise Nairobis main airport, adding a runway and terminal in exchange for 30 years of airport management. This agreement sparked protests and strikes. Additionally, Adanis business signed a contract to construct power transmission lines in Kenya. Recently, Adani was charged by U.S. prosecutors with bribery, fraud, and deceiving investors in a solar energy project. Read More..

B2B Tech News | 8 months ago        

U.S. Targets Chinese Firms with New Import Bans Over Uyghur Forced Labor Allegations

Food, metals, and other goods from about 30 Chinese enterprises that are alleged to have exploited Uyghur forced labour in Chinas Xinjiang province ar

Food, metals, and other goods from about 30 Chinese enterprises that are alleged to have exploited Uyghur forced labour in Chinas Xinjiang province are now prohibited from entering the United States. This measure broadens the Uyghur Forced Labour Prevention Act Entity List to stop products connected to human rights violations from reaching the American market. Products like walnuts, tomato sauce, and other metals, including copper, lithium, and gold, are prohibited. After the act was passed in 2021, more than 100 companies are on the list overall. Beijing disputes the U.S. authorities accusation that China runs Uyghur internment camps. Companies are still under pressure from the United States to guarantee no forced labour in their supply networks. Read More..

B2B Tech News | 8 months ago        

Citigroup Expands Presence in Saudi Arabia with Regional HQ in Riyadh

According to an internal memo, Citigroup has received approval to establish its regional headquarters in Riyadh, Saudi Arabia. This move is part of th

According to an internal memo, Citigroup has received approval to establish its regional headquarters in Riyadh, Saudi Arabia. This move is part of the kingdoms broader strategy to attract foreign companies by offering tax incentives and compelling them to set up regional operations within Saudi Arabia to retain lucrative government contracts. Crown Prince Mohammed bin Salmans economic diversification plan aims to reduce the countrys dependency on oil by attracting global investment. Citis approval from the Ministry of Investment Saudi Arabia MISA highlights the growing presence of major financial institutions in the kingdom. Goldman Sachs also received authorisation earlier this year to set up a regional headquarters in Riyadh. Read More..

B2B Tech News | 8 months ago        

Bitcoin Surges Toward $100,000 Amid Hopes for ProCrypto Trump Policies

Expectations that Presidentelect Donald Trump will establish a favourable regulatory climate for cryptocurrencies have caused Bitcoin to soar beyond $

Expectations that Presidentelect Donald Trump will establish a favourable regulatory climate for cryptocurrencies have caused Bitcoin to soar beyond $100,000 for the first time. Bitcoins price has more than doubled since Trumps election triumph, increasing over 45% in only two weeks from its 2024 low of $38,505. This surge comes after several noteworthy events, such as the 2008 debut of Bitcoin, the 2010 first retail transaction, and repeated attempts to introduce a Bitcoin ETF that the SEC refused until recently. Institutional interest increased in 2024 due to Grayscales court victory and ETF applications from big companies like BlackRock and Fidelity. Bitcoin has reached alltime highs due to Trumps procrypto rhetoric and pledges to loosen regulations. Read More..

B2B Tech News | 8 months ago        

Bank of America Strengthens Southeast Florida Presence with Two Key Hires

By employing seasoned professionals Phillip Edwards and Lauren Stuhmer as private client advisers in its Palm Beach office, Bank of Americas private b

By employing seasoned professionals Phillip Edwards and Lauren Stuhmer as private client advisers in its Palm Beach office, Bank of Americas private banking division has increased its footprint in Southeast Florida. Together, Edwards and Stuhmer have over 50 years of financial experience, managing $7 billion in customer accounts at Citis private banking division. They will specialise in wealth management services for ultrahigh net worth families at BofA, including financial planning, philanthropy, and investment. Stuhmer worked at J.P. Morgan and Deutsche Bank, while Edwards worked in a multifamily office at J.P. Morgan. As of Q3 2024, BofAs private bank documented record client balances of $667 billion and assets under control of $403 billion. Read More..

B2B Tech News | 8 months ago        

India and Australia Forge Strong Renewable Energy Partnership at G20 Summit

India and Australia seek to strengthen their bilateral ties and have established a substantial renewable energy partnership. They are also working tow

India and Australia seek to strengthen their bilateral ties and have established a substantial renewable energy partnership. They are also working towards a comprehensive economic cooperation deal. Speaking at the second IndiaAustralia annual conference on the sidelines of the G20 summit, Prime Ministers Narendra Modi and Anthony Albanese stressed the value of increasing cooperation in several crucial areas, such as defence, security, mobility, science, technology, and education. The leaders also reviewed a longterm strategy for defence and security cooperation that emphasises bolstering collective security and promoting regional peace. This collaboration demonstrates shared objectives in sustainable development and regional stability, marking a significant turning point in the two nations expanding strategic cooperation. Read More..

B2B Tech News | 8 months ago        

South Korea’s Exports Rise 5.8% in November, Driving Trade Surplus of $0.8 Billion

On Thursday, the customs office issued data showing that South Koreas exports for the first 20 days of November increased 5.8% year over year. This in

On Thursday, the customs office issued data showing that South Koreas exports for the first 20 days of November increased 5.8% year over year. This increase in exports demonstrates the nations adaptability to international trade conditions. In contrast, imports decreased by 1.0% over the same period, resulting in a $0.8 billion preliminary trade surplus. With an excellent export performance despite global economic uncertainty, the trade surplus is a good measure of South Koreas financial health. One possible explanation for the rise in exports is the need for essential goods like ships and semiconductors, vital to South Koreas manufacturing industry. The trade surplus implies that South Korea is upholding a stable equilibrium between imports and exports, bolstering its overall economic stability. Read More..

B2B Tech News | 8 months 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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