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GLOBAL NEWS

Canada’s Champagne and U.S. Treasury’s Bessent Discuss Trade at G7 Conference

In Banff, Alberta, during the G7 finance leaders conference, U.S. Treasury Secretary Scott Bessent met with Canadas Finance Minister FrançoisPhilippe

In Banff, Alberta, during the G7 finance leaders conference, U.S. Treasury Secretary Scott Bessent met with Canadas Finance Minister FrançoisPhilippe Champagne, who emphasised the two countries close trade ties. Champagne pointed out that the United States biggest consumer is Canada, which buys more than China, Japan, the United Kingdom, and France put together. The summit coincides with conversations about privatesectorled growth, nonmarket economic practices, and trade imbalances. The bilateral negotiations come after two recent meetings between Prime Minister Mark Carney and President Donald Trump, which indicated an attempt to deepen business ties. The G7 should work together to address global trade issues, such as Chinas nonmarket behaviours and Ukraines reconstruction, Champagne added. Read More..

B2B Tech News | 1 months ago      

Trump’s One Big Beautiful Bill Act Advances With 5% Remittance Tax Proposal

Under President Donald Trumps One Big Beautiful Bill Act, foreign remittances sent by nonU.S. nationals, including those with green cards and H1B visa

Under President Donald Trumps One Big Beautiful Bill Act, foreign remittances sent by nonU.S. nationals, including those with green cards and H1B visas, would be subject to a 5% tax. With $32 billion in remittances from the United States to India in 2023–2024, this tax, if applied at the point of transfer with no exemption level, could have a $1.6 billion financial impact on millions of Indian citizens in the United States. Along with financing for immigration enforcement, border security, and asylum fees, the law also supports Trumps larger policy goals. There are worries about the economic ramifications for U.S. allies as it has progressed in the House Budget Committee and is getting closer to a floor vote. Read More..

B2B Tech News | 1 months ago      

South Africa’s Budget Deficit Expands as VAT Increase Plan Is Scrapped

After abandoning a proposed valueadded tax VAT hike, South Africas National Treasury has forecast a larger budget deficit and increased public debt. P

After abandoning a proposed valueadded tax VAT hike, South Africas National Treasury has forecast a larger budget deficit and increased public debt. Political resistance and legal challenges led to the decision, which caused a revenue deficit of 61.9 billion rand $3.5 billion, requiring the government to update its mediumterm tax revenue predictions. While total debt is predicted to stabilise at 77.4% of GDP, the budget deficit is now anticipated to increase to 4.8% of GDP from 4.6%. The economy is expected to increase 1.4% in 2025, which is less than the 1.9% growth that was originally predicted. To close the budget deficit, the government is thinking about reducing spending and finding other ways to raise money. Read More..

B2B Tech News | 1 months ago      

IndiaEU Trade Talks Accelerate With Early Harvest Pact Targeted for July 2025

With an eye towards completion by July 2025, India and the EU are speeding up talks for an early harvest trade agreement. As a prelude to a fullfledge

With an eye towards completion by July 2025, India and the EU are speeding up talks for an early harvest trade agreement. As a prelude to a fullfledged free trade agreement FTA, the deal will cover tariffs, corporate procurement, intellectual property rights IPRs, and nontariff barriers. India wants to open markets for its steel, pharmaceutical, and clothing exports, while the EU is promoting duty reductions on cars, medical equipment, wines, and poultry. After the 11th round of negotiations in New Delhi on May 16, representatives from the Commerce Ministry are in Brussels for talks. With bilateral commerce reaching $137.41 billion in 2023–2024, the agreement is anticipated to increase economic relations between the two regions. Read More..

B2B Tech News | 1 months ago      

Bitcoin Hits Record $109,857 as ETF Inflows Surge Past $40 Billion

Bitcoin surged to a new alltime high, reaching $109,857, surpassing its previous January peak. The rally was driven by strong ETF inflows, with cumula

Bitcoin surged to a new alltime high, reaching $109,857, surpassing its previous January peak. The rally was driven by strong ETF inflows, with cumulative investments exceeding $40 billion, alongside growing institutional adoption. Analysts attribute the surge to weaker U.S. dollar trends, increased corporate treasury allocations, and regulatory optimism, as the U.S. Senate advances stablecoin legislation. The inclusion of Coinbase in the S&P 500 further signals mainstream acceptance. Bitcoin’s resilience amid macroeconomic volatility highlights its role as a store of value, with investors closely watching policy developments and market liquidity trends. Read More..

B2B Tech News | 1 months ago      

Shopify Launches AI Store Builder, Automating Online Store Creation

By entering descriptive keywords, merchants may create completely designed online stores with Shopifys AI Store Builder, a generative AI tool. By prod

By entering descriptive keywords, merchants may create completely designed online stores with Shopifys AI Store Builder, a generative AI tool. By producing three store layouts with text and photos, the method drastically cuts down on the time and work needed to set up a website. This is Shopifys first fully automated storebuilding capability, which does away with the need for manual design tweaks, in contrast to earlier AIassisted tools. Vanessa Lee, Vice President of Product at Shopify, highlighted that the tool makes store building easier by posing openended questions to merchants, enabling AI to produce the best possible shopfront. The business keeps spending money on AIpowered technologies that improve inventory control, picture creation, and customised purchasing experiences. Read More..

B2B Tech News | 1 months ago      

Dell Unveils Unified Private Cloud Platform for MultiStack Management

With support for Red Hat, VMware, and Nutanix environments, Dell has unveiled a unified private cloud platform that lets companies manage several clou

With support for Red Hat, VMware, and Nutanix environments, Dell has unveiled a unified private cloud platform that lets companies manage several cloud stacks across Dell hardware. Through a 90% reduction in setup procedures, the Dell Automation Platform expedites deployment, enabling new environments to be operational in 2.5 hours. Centralised management, in contrast to typical private clouds, allows flexibility while preserving distinct cloud instances across a shared infrastructure. The focus of Dells strategy is investment protection, enabling users to switch between cloud ecosystems and reuse infrastructure without being locked into a single provider. The platforms support for bringyourownlicense models increases businesses flexibility. Read More..

B2B Tech News | 1 months ago      

Amazon Tests AIDriven Audio Summaries for Enhanced Shopping Experience

Amazon is experimenting with AIpowered audio product summaries, which will allow customers to bypass reading long reviews and instead listen to succin

Amazon is experimenting with AIpowered audio product summaries, which will allow customers to bypass reading long reviews and instead listen to succinct AIgenerated explanations. The "Hear the highlights" button in the Amazon Shopping app provides shortform audio summaries that are accessible to a portion of U.S. customers. The function leverages artificial intelligence AI to analyse product details, user feedback, and internet insights. Amazons broader AI integration approach is in line with this ambition, which supports personalised recommendation tools like Shopping Guides and Rufus, the companys AIpowered shopping assistant. In order to improve the shopping experience with AIpowered accessibility, Amazon intends to extend the feature to other items and consumers. Read More..

B2B Tech News | 1 months ago