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UAEs Entry into BRICS Promises Global Economic Reshaping

The imminent inclusion of the UAE into the influential BRICS alliance next year is expected to greatly enhance its global influence and open up new av

The imminent inclusion of the UAE into the influential BRICS alliance next year is expected to greatly enhance its global influence and open up new avenues for trade and investment within one of the worlds major economic groups, according to experts. Known for its focus on innovation, advanced technologies, and sustainable development, the UAEs entry is poised to stimulate diversification and expansion in the BRICS economies, which collectively represent roughly 40% of the worlds population. This strategic move is set to bring economic benefits to the UAE while simultaneously fueling diversification and growth within the BRICS economies, fostering stronger trade and investment partnerships, knowledge sharing, and collaborative initiatives across various sectors like technology, energy, and finance. Read More..

B2B Tech News | 2 days ago      

Cryptocurrency giant Binance offloads Russian arm amid war in Ukraine

Binance, the worlds largest cryptocurrency exchange, has announced the sale of its Russian business to the newlyestablished exchange CommEX, joining t

Binance, the worlds largest cryptocurrency exchange, has announced the sale of its Russian business to the newlyestablished exchange CommEX, joining the growing list of companies exiting Moscow due to Russias war in Ukraine. The financial details of the deal remain undisclosed, with Binance confirming it wont retain ongoing revenue or an option to repurchase shares in the Russian business. Binances Chief Compliance Officer, Noah Perlman, cited incompatibility with Binances compliance strategy for their withdrawal from Russia. The migration of users and assets will be carried out orderly over the course of a year. CommEX, backed by crypto venture capitalists, recently launched its exchange. Many Western companies have divested or handed over Russian assets in response to sanctions and threats from the Kremlin. Read More..

B2B Tech News | 2 days ago      

Microsoft benefits from enhanced availability of Nvidia AI chips

Microsofts technology chief, Kevin Scott, noted an improved access to Nvidias AIfocused GPUs compared to previous months. The high demand for these ch

Microsofts technology chief, Kevin Scott, noted an improved access to Nvidias AIfocused GPUs compared to previous months. The high demand for these chips surged following the launch of OpenAIs ChatGPT chatbot, supported by Microsoft. Similar to other tech giants like Google, Microsoft has rapidly integrated generative AI into its products and offered these capabilities to clients, relying heavily on Nvidias GPUs for training and deploying AI models. This demand has led to supply shortages. Nvidia anticipates a 170% revenue growth compared to the previous year, with their control of the AI chip market resulting in a remarkable rise in gross margin and stock price, up 190% in 2023. They also plan to increase supply in the coming quarters. Read More..

B2B Tech News | 2 days ago      

Oil market buzz prices reach their peak of 2023

Oil prices soared to their highest level in over a year during Asian trading, driven by a sharp decline in crude inventories at the Cushing storage hu

Oil prices soared to their highest level in over a year during Asian trading, driven by a sharp decline in crude inventories at the Cushing storage hub, which reached its lowest point since July the previous year. Data from the U.S. Energy Information Administration revealed a drop of 943,000 barrels compared to the previous week, with U.S. West Texas Intermediate futures peaking at $95.03 per barrel, the highest since August 2022. Meanwhile, the global benchmark Brent rose by 1.05% to $97.56 a barrel. Expectations are for elevated oil prices through the year, with OPEC+ supply restrictions, including Russias export reduction and Saudi Arabias production cut extension, posing potential upside risks. Read More..

B2B Tech News | 2 days ago      

SAP Unveils Joule AI Copilot to Revolutionize Business Operations

SAP SE has unveiled Joule, an AI copilot designed to transform business operations. Integrated across SAPs cloud enterprise portfolio, Joule offers pr

SAP SE has unveiled Joule, an AI copilot designed to transform business operations. Integrated across SAPs cloud enterprise portfolio, Joule offers proactive, contextaware insights from various SAP and external sources. It rapidly analyzes data from multiple systems, facilitating quicker tasks and better business outcomes while ensuring security and compliance. With nearly 300 million enterprise users globally, Joule has the potential to redefine corporate workflows. It builds upon SAPs expertise at the intersection of business and technology, aligning with their ethical Business AI approach. Joule will seamlessly embed into SAP applications, spanning HR, finance, supply chain, procurement, customer experience, and the SAP Business Technology Platform. Read More..

B2B Tech News | 2 days ago      

Indonesias Stricter Ecommerce Regulations Impact Social Media Landscape

Indonesias Ministry of Trade is tightening ecommerce regulations, explicitly prohibiting financial transactions on social media platforms and blocking

Indonesias Ministry of Trade is tightening ecommerce regulations, explicitly prohibiting financial transactions on social media platforms and blocking social media companies from operating as ecommerce platforms to prevent potential misuse of public data. Minister of Trade Zulkifli Hasan emphasized the need to separate social media and ecommerce to prevent centralized algorithm control and unauthorized use of personal data for business purposes. Indonesia also plans to subject foreign goods sold through social media to the same rules as local offline products. These measures will significantly impact TikToks ecommerce ambitions in Indonesia, its secondlargest market with 113 million users, just behind the U.S., according to Data Reportal. Read More..

B2B Tech News | 2 days ago      

Mark Zuckerberg Reveals GameChanging AI Innovations at Metas Connect Conference

Under CEO Mark Zuckerbergs leadership, Meta is unveiling AI tools and celebritybacked digital assistants to advance the metaverse. At the Connect conf

Under CEO Mark Zuckerbergs leadership, Meta is unveiling AI tools and celebritybacked digital assistants to advance the metaverse. At the Connect conference in Menlo Park, they showcased this alongside the Quest 3 VR headset and RayBan smart glasses. WhatsApp and Messenger users will soon get autogenerated digital stickers from text prompts, akin to ChatGPT. Instagram, owned by Meta, will soon offer AIpowered photo editing via text prompts, using the Emu computer vision model. This tech will expand to Metas chat platforms, resembling Discords Midjourney AI app. The company aims to reshape the digital landscape with these innovations. Read More..

B2B Tech News | 2 days ago      

Elon Musks SpaceX scores defense contract for Starshield

Elon Musks SpaceX has secured its inaugural contract from the Pentagon for the development of the Starshield network, a militaryfocused adaptation of

Elon Musks SpaceX has secured its inaugural contract from the Pentagon for the development of the Starshield network, a militaryfocused adaptation of the Starlink satellite internet system, according to a statement by the defense agency on Wednesday. A spokesperson for the Space Force confirmed that SpaceX was granted a oneyear contract on September 1, with a maximum value of $70 million. The contract encompasses a comprehensive range of services, including endtoend Starshield connectivity through the Starlink satellite constellation, user terminals, supplementary equipment, network management, and associated support services. Starshield, introduced by SpaceX last year, is positioned as a dedicated national security solution, distinct from the Starlink network utilized by consumers and enterprises. Read More..

B2B Tech News | 2 days ago