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GLOBAL NEWS

Finance Secretary Confirms IMF Negotiations Proposal Expected After 2026 Elections

After its previous $1 billion programme concluded in 2024 with only $870 million disbursed, Uganda is currently negotiating a new Extended Credit Faci

After its previous $1 billion programme concluded in 2024 with only $870 million disbursed, Uganda is currently negotiating a new Extended Credit Facility with the IMF. The proposal would be brought to the IMF Board following Ugandas national elections in early 2026, according to Finance Secretary Ramathan Ggoobi, who acknowledged that negotiations are in progress. In order to manage its growing public debt, which increased 17.8% last year to $29.1 billion, or 52.1% of GDP, the nation is looking for new concessional funding. Due to difficulties with implementation and a lack of outside finance, the previous programme ended. In the face of growing economic constraints and restricted access to affordable finance, Uganda urgently needs international support and fiscal stability, which is reflected in its appeal for renewed IMF assistance. Read More..

B2B Tech News | 26 days ago      

GST Council Slashes Rates on Essentials New 5%, 18%, 40% Slabs Effective Sept 22

With effect from September 22, Indias GST Council has authorised a significant rate revamp that will combine slabs into 5%, 18%, and 40%. According to

With effect from September 22, Indias GST Council has authorised a significant rate revamp that will combine slabs into 5%, 18%, and 40%. According to Finance Minister Nirmala Sitharaman, the GST rate will drop from 12% or 18% to just 5% for commonplace goods like toothpaste, soaps, shampoos, hair oil, and bicycles. Indian breads, paneer, and UHT milk will all be taxfree. Large cars and luxury products would be subject to 40% GST, while household equipment like TVs and refrigerators will be subject to the 18% slab. The goal of the action is to increase consumption and counteract the effects of increased import taxes from the US. Despite the possibility of a ₹47,700 crore income shortfall, the reform was unanimously endorsed by the states. It is anticipated that the restructure will help middleclass customers and streamline compliance. Read More..

B2B Tech News | 26 days ago      

GST Council Approves Faster Export Refunds for Claims Below ₹1,000

The GST Council of India has authorised expedited export reimbursements for claims under ₹1,000, which will help small exporters who use postal and

The GST Council of India has authorised expedited export reimbursements for claims under ₹1,000, which will help small exporters who use postal and courier services. It is anticipated that around 150,000 outstanding shipping bills will be promptly settled. Additionally, riskbased provisional refunds for zerorated supplies to SEZs and approved activities were approved by the Council. Provisional releases will be made for refunds that are blocked under the inverted duty system, particularly in the textile, pharmaceutical, chemical, and fertiliser industries. In the face of growing U.S. tariffs on Indian goods, exporters may get 90% of claims in seven days, relieving liquidity pressures. With effect from November 1, a notification will be sent out listing the companies that are not eligible for temporary reimbursements. Furthermore, more exporters will be able to claim advantages since the location of the recipient will now determine the site of supply for intermediary services. Read More..

B2B Tech News | 26 days ago      

China Doubles Investment in Brazil to $8.5B, Elevates Nation to No. 3 Global Destination

Brazil is now Chinas thirdlargest international investment destination after Chinese investment in the country more than doubled to $8.5 billion in 20

Brazil is now Chinas thirdlargest international investment destination after Chinese investment in the country more than doubled to $8.5 billion in 2024. Energy and infrastructure projects received the majority of the funding, with battery and electric vehicle EV projects also gaining traction. The leading EV manufacturer in China, BYD, is constructing a sizable industrial complex in Bahia, while other businesses are growing their renewable energy and logistics initiatives. Chinas strategic shift towards Latin America in the face of escalating tensions with the West is reflected in the increase. Brazil is a desirable substitute due to its expanding consumer market and solid regulatory framework. According to analysts, the trend may strengthen bilateral relations and change regional supply chains, making Brazil a crucial hub for Chinas international investment plan. Read More..

B2B Tech News | 26 days ago      

Saudi Aramco to Issue DollarDenominated Sukuk, Tapping Global Sharia Demand

Later this month, Saudi Aramco will make its first sale of U.S. dollardenominated Islamic bonds sukuk since 2021. According to sources, the action is

Later this month, Saudi Aramco will make its first sale of U.S. dollardenominated Islamic bonds sukuk since 2021. According to sources, the action is intended to increase global demand for Shariacompliant assets and diversify finance. Among the primary managers are JPMorgan, Citi, and HSBC, and the sukuk will be marketed to foreign investors. Investor demand for premium Gulf issuers was demonstrated by the $6 billion raised and oversubscription of Aramcos most recent sukuk. The new issue is in line with Saudi Arabias larger plan to draw in foreign investment and back the economic changes outlined in Vision 2030. Favourable market circumstances and growing oil revenues may further help timing, putting Aramco in a position to negotiate competitive rates and grow its debt load. Read More..

B2B Tech News | 26 days ago      

Palo Alto Networks Confirms Data Breach via Compromised Drift–Salesforce Integration

According to Palo Alto Networks, the Salesloft Drift application was the target of a massive supply chain attack that affected hundreds of victims. Ov

According to Palo Alto Networks, the Salesloft Drift application was the target of a massive supply chain attack that affected hundreds of victims. Over the course of ten days, hackers gained access to client environments by abusing OAuth and refresh tokens from SalesDrift, a thirdparty solution that connects Drifts AI chat to Salesforce. Internal sales records, support case data, and company contact information were all made public by the hack. Palo Alto promised that its key systems and products would not be impacted and disabled the hacked app. Zscaler, Cloudflare, and perhaps Google are among the other victims. Although the ransomware organisation ShinyHunters took credit, Google believes UNC6395 is a different threat actor. The issue highlights the hazards in interconnected SaaS ecosystems and is being compared to the MOVEit compromise. Read More..

B2B Tech News | 26 days ago      

ChatGPT Suffers Global Outage on September 3, Leaving Thousands Without Access

ChatGPT had a worldwide outage on September 3, and thousands of users reported having trouble using the AI chatbot on several platforms. According to

ChatGPT had a worldwide outage on September 3, and thousands of users reported having trouble using the AI chatbot on several platforms. According to Downdetector, there were 547 reports at the height of the interruption, which started at 1225 p.m. IST and peaked at 1256 p.m. Over 2,200 people had been impacted by a more extensive outage the day before. On its status page, OpenAI verified that ChatGPT was not displaying responses and acknowledged the problem, referring to it as a "partial outage". Although the cause has not been revealed, the corporation is conducting an investigation. 82% of visitors reported generic access failures, while some had issues specific to the website. As AI platforms expand internationally, the incident brings to light persistent reliability issues. Read More..

B2B Tech News | 26 days ago      

PayPal and Venmo Users Get Early Access to Perplexity’s AI Browser Comet

Through a 12month free trial of its Pro membership, PayPal and Venmo users in the United States and a few other international markets will have first

Through a 12month free trial of its Pro membership, PayPal and Venmo users in the United States and a few other international markets will have first access to Perplexitys new Comet AI browser. Supported by Nvidia, Perplexity competes with Google and OpenAI by providing AIpowered search tools that condense content. Comet incorporates these capabilities into web browsing, allowing users to schedule or summarise webpages and query personal data, such as calendars or emails. The deal is a component of PayPals new subscriptions centre, which makes it easier for its 430 million users to make regular payments. To increase Comets reach, Perplexity is also creating a mobile version and looking into joint ventures with smartphone manufacturers. The action improves user onboarding and Perplexitys agentic commerce strategy. Read More..

B2B Tech News | 26 days ago