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Algeria Grapples with Soaring Inflation, Making Goods Unaffordable

Due to Algerias high inflation rate of 9.53%, most people cannot afford the countrys high cost of commodities—customers at the Reda Houhou market in

Due to Algerias high inflation rate of 9.53%, most people cannot afford the countrys high cost of commodities—customers at the Reda Houhou market in central Algiers battle with skyrocketing prices, particularly during Ramadan. Citizens are nevertheless impacted by years of austerity, even as the economy recovers due to increased oil prices. Mustapha Bali, a civil servant, bemoans the exorbitant costs associated with Ramadan, mentioning beef at 2600 dinars a kg and tomatoes at 120–140 dinars. Ahmed Laaloufi, a meat dealer, imports goods since they are scarce locally. Customers are helped by the governments financing of an Algiers market, which offers accessible and reasonably priced goods. According to analyst Nabil Djemaa, inflation is caused by rising costs for manufactured goods and raw materials, especially for agricultural items like semolina. Read More..

B2B Tech News | 14 days ago        

Thailands Economy Faces Challenges World Bank Downgrades Growth Forecast

The World Bank predicts that poor exports and a postponed budget will be the leading causes of Thailands 2.8% economic growth in 2024 and 3.0% growth

The World Bank predicts that poor exports and a postponed budget will be the leading causes of Thailands 2.8% economic growth in 2024 and 3.0% growth in 2025. This expectation decreases from earlier estimates of 3.2% for each two years. In 2023, the economy increased by 1.9%, but the last quarter saw an unanticipated 0.6% contraction. In addition, the slowdown in international commerce and postponed government expenditure caused Thailands central bank to lower its forecast for growth in 2024 to 2.5%–3.0%. The poor prognosis is partly attributed to bleak public investment and export expectations. Notwithstanding obstacles, development is anticipated to be driven by tourism and private consumption visitor visits are anticipated to return to 90% of prepandemic levels. The government wants to give its residents a $14 billion gift to help the economy, but worries over increased public debt persist. Read More..

B2B Tech News | 20 days ago        

European Union FastTracks Financial Aid to Egypt Amid Economic Challenges

The European Union intends to circumvent parliamentary scrutiny and other protections to speed up financial help to Egypt through an urgent funding me

The European Union intends to circumvent parliamentary scrutiny and other protections to speed up financial help to Egypt through an urgent funding mechanism. This action attempts to solve Egypts economic problems, which have been made worse by several variables, such as the pandemic and regional wars. Concerns concerning migration and regional stability surround the EUs decision. Grants, loans, and investments are all part of the aid package, with a sizeable amount designated for migration management. The EU stresses the necessity for immediate economic assistance even as it recognises Egypts sluggish progress towards change and human rights concerns. Recently, Egypt has taken measures to stabilise its economy, such as floating its currency and obtaining funding from Gulf governments and international organisations. Read More..

B2B Tech News | 20 days ago        

Rakuten Group to Streamline Fintech Operations with Consolidation Move

The Rakuten Group intends to combine all of its fintech companies into one organisation to improve cooperation and client acquisition in several indus

The Rakuten Group intends to combine all of its fintech companies into one organisation to improve cooperation and client acquisition in several industries, such as online banking, credit cards, securities, and insurance. It is anticipated that Rakuten Group and Rakuten Banks agreement of understanding for reorganisation will take effect in October. Despite the merger, Rakuten Bank will continue to be listed in the Tokyo market. Rakuten Group is taking action to strengthen its financial performance, which has been problematic since the companys 2020 launch of its mobile carrier. Rakuten has explored partnerships, asset sales, stock and debt offerings, and the sale of a portion of its securities division to Mizuho Financial Group to generate income. Read More..

B2B Tech News | 20 days ago        

Bank Glitch Recovery Ethiopias Commercial Bank Recovers $14 Million

According to a report by Ethiopias Commercial Bank, it has recovered about 80% of the $14 million in lost cash due to a system malfunction. Customers

According to a report by Ethiopias Commercial Bank, it has recovered about 80% of the $14 million in lost cash due to a system malfunction. Customers could take out more money than they had in their accounts because of the problem the transactions ranged from 9 cents to $5,350. Of the people that have willingly returned the money, 567 have not. Approximately 15,000 have. The bank made the unprecedented move of making the names and account information of people who have yet to repay the money publicly available. Universities have urged students to refund the payments due to the incident during a standard system upgrade. Despite the event, the bank stressed the importance of getting all the money back to preserve confidence. Read More..

B2B Tech News | 21 days ago        

US and Mexico Forge Semiconductor Partnership Amid Global Supply Chain Shift

As part of the U.S. CHIPS Act, the United States and Mexico will work together to investigate potential within the semiconductor supply chain. The Bid

As part of the U.S. CHIPS Act, the United States and Mexico will work together to investigate potential within the semiconductor supply chain. The Biden administration is moving to diversify semiconductor production sources other than China and Taiwan. The agreement will entail evaluating Mexicos labour needs, regulatory environment, and semiconductor sector. The State Department emphasised semiconductors importance to several industries, including the automotive and healthcare sectors. The statement has yet to prompt comments from Mexicos Ministry of Economy. This endeavour is an example of how international collaboration is being used to strengthen the security and resilience of the semiconductor supply chain. Read More..

B2B Tech News | 21 days ago        

Empowering Rural Women PM Modi and Bill Gates Focus on Economic Development

During a recent discussion between Prime Minister Narendra Modi and tech billionaire Bill Gates, rural womens empowerment emerged as a critical factor

During a recent discussion between Prime Minister Narendra Modi and tech billionaire Bill Gates, rural womens empowerment emerged as a critical factor in Indias economic growth. PM Modi outlined his plan to use technology to empower women in rural areas to achieve financial independence for all villagers women. Similar to PM Modi, Bill Gates highlighted how technology has the power to significantly alter rural India, especially in fields where males predominate. The conversation centred on methods to improve the standard of living for women living in rural areas, such as projects related to business and agriculture. PM Modi emphasized the governments dedication to using technology to narrow the gender gap in opportunities and resource access. Gates highlighted cooperative strategies for equitable growth and applauded Indias efforts. The conversation emphasized holistic approaches to address rural womens challenges and the importance of targeted interventions to support entrepreneurship Read More..

B2B Tech News | 21 days ago        

Adobe and Microsoft Collaborate to Empower Marketers with AI Integration

Together, Adobe and Microsoft have developed new generative AI capabilities that will improve the productivity and creativity of marketers. Microsoft

Together, Adobe and Microsoft have developed new generative AI capabilities that will improve the productivity and creativity of marketers. Microsoft Copilot in Microsoft 365 apps and Adobe Experience Cloud processes and insights will be integrated by working together. The goal is to break down data and application silos to assist marketers in managing their workloads more effectively. Through these linked capabilities, Microsoft Dynamics 365 and Adobe Experience Cloud apps will provide Microsoft Copilot with pertinent marketing analytics and processes. Marketers can use programmes like Outlook, Microsoft Teams, and Word to create creative briefs, oversee content approvals, and deliver experiences. Offering strategic insights, helping to draft campaign briefings, and guaranteeing project continuity through incontext alerts and summaries will be the primary focuses of the initial capabilities. The integration seeks to make the intricate marketing discipline, allowing marketers to work s Read More..

B2B Tech News | 24 days ago        



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