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Singapores Economic Outlook Brightens for 2024 GDP Growth Forecast at 2.4%

The prognosis for Singapores economy in 2024 has brightened, with 2.4% growth and 3.1% inflation lowered down from initial projections. The manufactur

The prognosis for Singapores economy in 2024 has brightened, with 2.4% growth and 3.1% inflation lowered down from initial projections. The manufacturing sector, predicted to rise by 4%, up from 2.3%, is anticipated to lead this expansion. The lodging, food services, and wholesale and retail commerce industries have had their predictions lowered. GDP growth in the first quarter is expected to be 2.6%, with Taylor Swifts performances playing a significant role in this increase. Despite decreased inflation expectations, the Monetary Authority of Singapores core inflation index has remained the same. At the April 2024 review, no monetary policy adjustments are anticipated due to the economys steady state. Singapores monetary policy is centred on exchange rates, allowing flexibility within a specified range for key trading partners currencies. Read More..

B2B Tech News | 2 months ago      

HSBC Raises Zomatos Target Price to ₹200, Maintains Buy Rating on Growth Prospects

With the expectation of increased digital expenditure in India, HSBC has increased Zomatos target price to ₹200 per share and kept its Buy rating. T

With the expectation of increased digital expenditure in India, HSBC has increased Zomatos target price to ₹200 per share and kept its Buy rating. The firm is nonetheless upbeat about Zomatos prospects for speedy commerce and its continued growth in market share in meal delivery. It raises its order growth rates and gross order value predictions, anticipating surprises in Blinkits growth and profitability. In the long run, HSBC believes that Blinkits advertising income will account for almost all its EBITDA margin. It predicts an increase in digital advertising spending in India, with Blinkits share projected to expand because of its digital ads that can be tracked. Zomatos stock has increased significantly recently, indicating investors confidence. Zomato shares were trading on the BSE at ₹153.20 a share as of 1100 am. Read More..

B2B Tech News | 2 months ago      

African Development Bank President Urges African Nations to Shift Away from Natural ResourceBacked Loans

The African Development Banks chief, Akinwumi Adesina, urges African nations to stop depending on loans backed by natural resources because of their i

The African Development Banks chief, Akinwumi Adesina, urges African nations to stop depending on loans backed by natural resources because of their inherent shortcomings. He highlights the difficulties in valuing natural resources and the power disparities that benefit lenders during negotiations. Adesina draws attention to instances such as Chad, where financial problems brought on by oilbacked loans forced nations to utilise resource earnings to pay off debt. He emphasises these loans obstacles to longterm debt management and urges measures to renegotiate them. Adesina cautions that major lenders like China and Western organisations are backing these loans. To protect the economic stability of African states against corruption and exploitation, urgent collective action is required. Read More..

B2B Tech News | 2 months ago      

Cathay Pacific Airways Reports $1.25 Billion Profit for 2023, Plans Workforce Expansion

Cathay Pacific Airways 0293.HK of Hong Kong announced a profit for 2023 of HK$9.79 billion $1.25 billion, the airlines first yearly profit since 2019.

Cathay Pacific Airways 0293.HK of Hong Kong announced a profit for 2023 of HK$9.79 billion $1.25 billion, the airlines first yearly profit since 2019. Given this favourable financial result, Cathay intends to recruit around 5,000 new workers this year, or a 20% increase in staff. This hiring initiative is part of Cathays efforts to recover from the adverse effects of COVID19, which caused the airline to suffer significant losses in the past, including a HK$6.6 billion deficit in 2022. Cathay is less aggressive regarding capacity restoration than its nearest competitor, Singapore Airlines SIAL.SI. However, it plans to restore 80% of its prepandemic passenger flights by the second quarter of 2023. Fullservice passenger and freight airline Cathay Pacific has two subsidiaries the lowcost airline HK Express and cargo carrier Air Hong Kong. Read More..

B2B Tech News | 2 months ago      

Tata Groups Dholera Plant Set to Launch Indias First Semiconductor Chip by 2026

By 2026, the first semiconductor chip made in India at the Tata Groups Dholera factory will be released. The chairman of Taiwans Powerchip Semiconduct

By 2026, the first semiconductor chip made in India at the Tata Groups Dholera factory will be released. The chairman of Taiwans Powerchip Semiconductor Manufacturing Corporation, Frank Huang, said that the Dholera factory would start producing 28nanometer chips, possibly moving on to 22nanometer chips. A joint venture between Tata Electronics and PSMC, this massive semiconductor production plant has an investment of Rs 91,000 crore. It can generate up to 50,000 wafers per month. Highperformance computing and power management chips will be the facilitys main products, and they will be used in various industries and applications, such as consumer electronics, communications, defence, and electric cars. Indias position in the semiconductor sector has been cemented with the Cabinets approval of further plans for semiconductor plants, including those in Gujarat and Assam. Read More..

B2B Tech News | 2 months ago      

Indian Defense Startup BBBS Secures Rs 200 Crore Order for AntiDrone Tech from Indian Air Force and Army

A vital order worth over Rs 200 Crores has been acquired by Big Bang Boom Solutions Pvt. Ltd. BBBS, an Indian defence industry startup, for its stateo

A vital order worth over Rs 200 Crores has been acquired by Big Bang Boom Solutions Pvt. Ltd. BBBS, an Indian defence industry startup, for its stateoftheart antidrone technology by the Indian Air Force and Indian Army. This agreement, a component of the Indian Defence Exhibition IDEX programme, demonstrates BBBSs proficiency with deeptech goods, especially those that combat drones. The technology offers a revolutionary solution in response to the growing threat presented by drones and Unmanned Aircraft Systems UAS. Modern elements, including computer vision algorithms, Artificial Intelligence AI, and passive RF sensor technology, allow for accurate drone recognition and classification in BBBSs Vajra Sentinel System, which identifies, monitors, and neutralizes drones. Indias dedication to funding cuttingedge defence technologies through creative companies is reflected in the deal. The company plans to commence execution immediately, emphasizing timely delivery, comprehensive training, Read More..

B2B Tech News | 2 months ago      

Google Restricts AI Chatbot Gemini from Answering Election Queries Globally

To reduce the possibility of mistakes while implementing the technology, Google has limited the questions that its AI chatbot Gemini may answer in the

To reduce the possibility of mistakes while implementing the technology, Google has limited the questions that its AI chatbot Gemini may answer in the worldwide elections that are taking place this year. This action is in response to worries about false information propagated by developments in generative AI, including creating images and videos. While Gemini continues to learn how to handle such queries, its response to concerns about the upcoming election now points visitors to Google Search. These limits were first declared for the US election. Still, they have now been extended internationally before elections in South Africa and India. For instance, India has made it mandatory for IT companies to obtain government clearance before deploying AI tools and mark them as unreliable or under testing. Read More..

B2B Tech News | 2 months ago      

Samsung Electronics to Adopt SK Hynixs ChipMaking Technology for AI Applications

According to reports, Samsung Electronics intends to use chipmaking technologies supported by competitor SK Hynix to create highend processors for art

According to reports, Samsung Electronics intends to use chipmaking technologies supported by competitor SK Hynix to create highend processors for artificial intelligence applications. Moving to catch up in the competition for High Bandwidth Memory HBM chips—which are prevalent in generative AI—Samsung has made this effort. Production problems have resulted from Samsungs choice to continue using NonConductive Film NCF technology. At the same time, competitors like SK Hynix have adopted the Mass Reflow Roulded UnderFill MRMUF technique. Samsung appears to be changing its approach based on recent purchase orders for MUFcompatible equipment. Even if it is considering using MUF, Samsung insists that its NCF technology is still the best option for HBM devices. In AI applications, the HBM3 and HBM3E processors are essential for processing large volumes of data. Read More..

B2B Tech News | 2 months ago