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Foxconns Shunsin Eyes $80 Million Investment for New Circuit Plant in Northern Vietnam

Shunsin, a Foxconn subsidiary, is requesting permission to invest $80 million in northern Vietnam to build a facility in Bac Giang province that would

Shunsin, a Foxconn subsidiary, is requesting permission to invest $80 million in northern Vietnam to build a facility in Bac Giang province that would produce integrated circuits and electronic components. By December 2026, the plant is anticipated to be fully operational, with a 4.5 million unit capacity per year. Every product produced at this factory will be sold to the US, EU, and Japanese markets. With primary operations centred in Bac Ninh and Bac Giang provinces, Foxconn, the worlds largest contract electronics maker, has already spent over $3.2 billion in Vietnam since joining the market in the early 2000s. Additionally, the business was granted a licence in July for a $383 million printed circuit board facility in northern Vietnam. Read More..

B2B Tech News | 9 months ago        

End of an Era Intels 25Year Tenure on the Dow Comes to an End as Nvidia Takes Its Place

The semiconductor sector will change significantly as Nvidia will take Intels spot on the Dow Jones Industrial Average after 25 years. Having missed o

The semiconductor sector will change significantly as Nvidia will take Intels spot on the Dow Jones Industrial Average after 25 years. Having missed out on essential investments like OpenAI and failing to adjust to the advances in generative AI, Intels stock has fallen 54% this year, making it the indexs poorest performance. Analysts predict that, for the first time since 1986, Intel may experience an annual financial loss despite recent optimism for its PC and server sector. The paths of these two semiconductor behemoths are very different, with Nvidias valuation skyrocketing to $3.32 trillion due to its pivotal position in AI technology. Read More..

B2B Tech News | 9 months ago        

Petrobras to Reveal $110 Billion Investment Plan for 20252029, Focused on Oil Exploration

Brazils stateowned oil corporation, Petrobras, is anticipated to present a new strategic plan in late November that calls for investments of around $1

Brazils stateowned oil corporation, Petrobras, is anticipated to present a new strategic plan in late November that calls for investments of around $110 billion for the 2025–2029, an 8% increase over its prior projection. According to sources, the plan is presently undergoing final executive discussion and currently projects investments at about $107 billion changes are expected to bring the amount closer to $110 billion. Prioritising oil exploration and production, the plan allots $3 billion to $4 billion for the Equatorial Margin, pending clearance from the environmental regulator Ibama for drilling in the mouth of the Amazon river. Petrobras did not answer requests for comments on the idea. Read More..

B2B Tech News | 9 months ago        

Middle East and North Africa Set for Economic Recovery, But 2024 Growth Downgraded to 2.1%

The substantial increase in the value of its gold assets, which produced a profit of 4.41 billion francs, was a significant factor in the Swiss Nation

The substantial increase in the value of its gold assets, which produced a profit of 4.41 billion francs, was a significant factor in the Swiss National Banks SNB announced thirdquarter profit of 5.67 billion Swiss francs $6.55 billion. World political unpredictability and demand for haven assets, fuelled by the recent interest rate decrease by the U.S. Federal Reserve, have caused gold prices to soar by more than 31% this year. The SNB also made 3.08 billion francs from its sizeable foreign exchange assets, supported by growing stock market valuations, especially from investments in firms like Apple and Nvidia. Thanks to this quarters result, SNBs ninemonth profit increased to 62.5 billion francs, which contrasts sharply with the previous years 12 billion franc deficit. Read More..

B2B Tech News | 9 months ago        

Swiss National Bank Reports $6.55 Billion Profit, Boosted by Gold Holdings Surge

The substantial rise in the value of its gold assets, which produced a profit of 4.41 billion francs, was a significant factor in the Swiss National B

The substantial rise in the value of its gold assets, which produced a profit of 4.41 billion francs, was a significant factor in the Swiss National Banks SNB announced thirdquarter profit of 5.67 billion Swiss francs $6.55 billion. Global political unpredictability and demand for haven assets, fuelled by the recent interest rate decrease by the U.S. Federal Reserve, have caused gold prices to soar by more than 31% this year. Rising stock market valuations, especially from investments in firms like Apple and Nvidia, helped the SNB gain 3.08 billion francs from its substantial foreign exchange assets. The SNBs ninemonth profit increased to 62.5 billion francs thanks to this quarters result, which contrasts sharply with the previous years 12 billion franc deficit. Read More..

B2B Tech News | 9 months ago        

STMicroelectronics Lowers FullYear Revenue Forecast Amid Weak Customer Demand

The largest chipmaker in Europe, STMicroelectronics, reported a lowerthanexpected fullyear revenue estimate of $13.27 billion, the lower end of its ea

The largest chipmaker in Europe, STMicroelectronics, reported a lowerthanexpected fullyear revenue estimate of $13.27 billion, the lower end of its earlier range of $13.2 billion to $13.7 billion. This is the third time this year that its forecast has been reduced. With a revenue reduction from Q4 2024 to Q1 2025 that surpasses average seasonal trends, the business ascribed this adjustment to weak client demand and order backlogs. Customer order reductions brought on by excessive inventory levels associated with dwindling automobile demand also pose problems for the automotive semiconductor industry, including firms like Texas Instruments and Melexis. For the year, analysts projected sales to be at $13.26 billion. Read More..

B2B Tech News | 9 months ago        

Microsoft Earnings Show Increased AI Investment Amid Azure Cloud Growth Slowdown

Afterhours share prices fell 3.6% due to Microsofts recent earnings release, which showed a slowdown in Azure cloud growth but increased investment in

Afterhours share prices fell 3.6% due to Microsofts recent earnings release, which showed a slowdown in Azure cloud growth but increased investment in artificial intelligence AI. While the companys firstquarter sales and earnings topped Wall Streets estimates, it predicted somewhat lower secondquarter Azure growth of 3132%. Capacity issues will continue until the second part of the fiscal year, even though AI has greatly aided Azures expansion. Investors began to worry about cash flow and margins after Microsofts capital expenditures increased 5.3% to $20 billion. On the other hand, Google revealed a 35% rise in cloud income due to AI, underscoring the difficulties of competition in the technology industry. Read More..

B2B Tech News | 9 months ago        

Senegals $1.8 Billion IMF Aid Program Frozen Amid Revised Budget Deficit Concerns

Senegals 2023 IMF bailout package of $1.8 billion is on hold, requiring a restructuring after an audit found a budget shortfall of over 10% of GDP, ov

Senegals 2023 IMF bailout package of $1.8 billion is on hold, requiring a restructuring after an audit found a budget shortfall of over 10% of GDP, over double the previously stated 5.5%. According to Finance Minister Cheikh Diba, the administration hopes to reach a new deal with the IMF by 2025s first quarter. Due to the revision of the debttoGDP ratio to more than 80%, Moodys further lowered the countrys credit rating into the speculative category. Senegal is preparing for significant oil and gas output, including the $4.8 billion GTA liquefied natural gas project, which is expected to propel economic growth beyond 10% in 2025. Amid these advances, the government is evaluating natural resource contracts. Read More..

B2B Tech News | 9 months ago        



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Refresh Your Facts

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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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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