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Global Public Debt Hits Record $97 Trillion, Straining Developing Nations

In 2023, the total public debt worldwide hit a record $97 trillion, with developing countries bearing about onethird of this load. This strains these

In 2023, the total public debt worldwide hit a record $97 trillion, with developing countries bearing about onethird of this load. This strains these governments capacity to pay for essential services like healthcare, education, and climate action. According to UN Trade and Development, highinterest payments are outpacing growth in critical sectors of public spending. Developing nations are particularly challenged one in three spend more on interest payments than essential programmes. Uneven economic performance and cascading crises aggravate the increase in the worlds public debt, particularly in developing nations. The African Union and President Biden are among the leaders who have called for action to solve this problem and lessen the debt load on developing countries. Read More..

B2B Tech News | 1 months ago      

South KoreaAfrica Summit Concludes with Focus on Shared Growth and Sustainability

At the end of the KoreaAfrica Summit, South Korean President Yoon Suk Yeol highlighted sustainable growth and shared prosperity, establishing mining c

At the end of the KoreaAfrica Summit, South Korean President Yoon Suk Yeol highlighted sustainable growth and shared prosperity, establishing mining cooperation with African countries to safeguard essential resources in the face of unpredictable global supply chains. African delegates decided to start ministeriallevel discussions on mineral resources to increase supply chain resilience. Foreign Minister Cho Taeyul emphasised that South Koreas strategic outreach to Africa seeks to realise ambitions for foreign policy through increased collaboration. Agreements with the African Development Bank further demonstrate South Koreas commitment to the success of both parties. It promises to enhance investments and development aid. Both parties aim to strengthen trade and investment ties despite the modest levels of commerce that now exist, acknowledging Africas increasing significance in the dynamics of the global economy. Read More..

B2B Tech News | 1 months ago      

Indian Carriers Split Over Bilateral Rights with West Asian Countries

There is disagreement among Indian carriers on whether the government should give West Asian nations like Qatar and the United Arab Emirates broader b

There is disagreement among Indian carriers on whether the government should give West Asian nations like Qatar and the United Arab Emirates broader bilateral privileges. Air India and SpiceJet contend that India needs to give precedence to constructing its hubs, whilst Akasa Air and IndiGo maintain that the choice should be reached following a comprehensive evaluation. The CEO of Air India voiced worries about possible effects on longhaul flights while highlighting the value of Indian airlines in providing passenger service to faroff places. Similar views were expressed by SpiceJets CEO, who supported the growth of Indian hubs. On the other hand, IndiGo and Akasa Air recommended weighing several criteria before deciding. They emphasised the necessity for a nuanced strategy and the need to acknowledge commercial relationships with the Middle East. Read More..

B2B Tech News | 1 months ago      

Nvidia Surges to Become Worlds Second Most Valuable Company

With a market valuation of more than $3 trillion, Nvidia surpassed Apple to become the second most valuable business in the world on Wednesday as it s

With a market valuation of more than $3 trillion, Nvidia surpassed Apple to become the second most valuable business in the world on Wednesday as it surged to alltime highs. The spike in Nvidias stock is a prelude to its June 7 stock split, which might draw more individual investors. Nvidia has had impressive growth because of its emphasis on AI technologies, especially now that demand for its chips exceeds supply. Some investors perceive Apple needing to catch up in AI innovation due to its struggles in the smartphone industry. Despite its spectacular rise, Nvidias pricetoearnings ratio is still lower than a year ago. Read More..

B2B Tech News | 1 months ago      

Zoox, Amazons Robotaxi Unit, Expands Autonomous Vehicle Testing to Austin and Miami

The robotaxi division of Amazon.com, Zoox, has revealed intentions to take its autonomous car testing outside of the western United States to Austin,

The robotaxi division of Amazon.com, Zoox, has revealed intentions to take its autonomous car testing outside of the western United States to Austin, Texas, and Miami. The organisation intends to station modified Toyota Highlanders equipped with human safety drivers in constrained regions close to the commercial and leisure centres of the two cities. Although Zoox has been conducting selfdesigned autonomous vehicle tests in California and Nevada, the companys expansion comes after the NHTSA looked at 500 Zoox cars following two incidents. Zoox is considering launching commercial rides in other locations after launching in Las Vegas and San Francisco, even if public rides are unavailable. Meanwhile, the NHTSA is also looking at other selfdriving robotaxi startups, such as Waymo and Cruise from Alphabet and General Motors. Read More..

B2B Tech News | 1 months ago      

Google Launches "Google for Startups AI Academy American Infrastructure" Program

Google declared the opening of its "Google for Startups AI Academy American Infrastructure," a programme designed to introduce artificial intelligence

Google declared the opening of its "Google for Startups AI Academy American Infrastructure," a programme designed to introduce artificial intelligence to government agencies. Startups in the equityfree programme will have access to Googles AI tools, receive indepth instruction from AI specialists, and participate in advanced workshops over 12weeks. Googles People + AI Research PAIR team is responsible for creating the curriculum, including energy, agriculture, public safety, healthcare, telecommunications, transportation, and urban development topics. Graduates will be a part of an alum network that comprises businesses that monitor air pollution, decarbonise real estate, and decrease traffic deaths, respectively JustAir, Cambio, and Sensagrate. Google is accepting applications until June 17 and looking for entrepreneurs tackling efficiency and problemsolving across various industries. Read More..

B2B Tech News | 1 months ago      

Onsemi Unveils Silicon Carbide Chips to Enhance Energy Efficiency in AI Data Centers

Using technology first created for electric vehicles, Onsemi has unveiled a new line of chips intended to improve energy efficiency in data centres po

Using technology first created for electric vehicles, Onsemi has unveiled a new line of chips intended to improve energy efficiency in data centres powering AI applications. The material used to make these chips is silicon carbide, which has a higher production cost than regular silicon but a very high power conversion efficiency. This technology has been widely incorporated to increase the range of electric cars. The president of Onsemis power solutions business, Simon Keeton, emphasised that during several conversion phases, data centres often waste 12% of their electricity as heat. Onsemis chips aim to cut these losses by 1%. With the enormous power requirements predicted for AI data centres, this decrease might result in yearly electricity savings equivalent to powering a million homes. Read More..

B2B Tech News | 1 months ago      

SAP Unveils Generative AI Solutions and Strategic Alliances at SAP Sapphire Conference

SAP unveiled innovative generative AI solutions and strategic alliances at the SAP Sapphire conference to improve company operations in the AI era. CE

SAP unveiled innovative generative AI solutions and strategic alliances at the SAP Sapphire conference to improve company operations in the AI era. CEO Christian Klein underlined how these developments will revolutionise international commerce. With its integration throughout its corporate cloud offering, SAPs Business AI offers users improved insights and problemsolving skills. Two notable developments are predictive forecasting in SAP Sales Cloud and AIgenerated reporting in SAP SuccessFactors. Automation and decisionmaking are improved by SAPs generative AI copilot, Joule, which is now linked with Microsoft Copilot. Additionally, SAP announced collaborations to improve generative AI applications with AWS, Google Cloud, NVIDIA, Meta, and Mistral AI. These partnerships seek to strengthen SAPs AI capabilities, produce tailored insights, and improve supplychain management. SAPs initiatives also focus on sustainability, offering tools to track and manage carbon footprints effectively. Read More..

B2B Tech News | 1 months ago