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GLOBAL NEWS

OpenAI and Microsoft Renegotiate MultibillionDollar Partnership Amid IPO Plans

OpenAI is renegotiating its multibillionpound deal with Microsoft to create space for new capital and a potential initial public offering IPO. Given t

OpenAI is renegotiating its multibillionpound deal with Microsoft to create space for new capital and a potential initial public offering IPO. Given that the tech giant has invested over £13 billion in OpenAI, Microsofts ownership stake has become a significant topic of discussion. If Microsoft wishes to continue utilising OpenAIs AI models until 2030, when their current contract concludes, it may need to relinquish some equity. To facilitate its stock offerings to investors, OpenAI intends to restructure as a forprofit company, akin to Anthropic and xAI. Access to cuttingedge AI technology is ensured by Microsofts commitment to the partnership, even amidst disagreements regarding OpenAIs strategic decisions. Read More..

B2B Tech News | 2 months ago      

Nigeria’s Senate Approves Major Tax Reforms, Raising VAT to 12.5%

An important step towards overhauling fiscal policy has been taken with the passage of four tax reform proposals by Nigerias Senate, aimed at increasi

An important step towards overhauling fiscal policy has been taken with the passage of four tax reform proposals by Nigerias Senate, aimed at increasing government revenue. Despite concerns that these measures might exacerbate financial hardship, they include raising the valueadded tax VAT from 7.5% to 12.5%. Additionally, by reforming the collection of royalty and petroleum profit taxes, the bills establish the Nigeria Revenue Service. Nigeria continues to rely on borrowing to finance its budget, as its taxtoGDP ratio remains low at 10.8%. Before being forwarded to President Bola Tinubu for final approval, the Senates passage must be harmonised with that of the House of Representatives. Read More..

B2B Tech News | 2 months ago      

India and EU Advance FTA Talks, Targeting Swift Pact Conclusion

In a bid to swiftly complete the first phase of the agreement, India and the European Union EU have initiated the eleventh round of Free Trade Agreeme

In a bid to swiftly complete the first phase of the agreement, India and the European Union EU have initiated the eleventh round of Free Trade Agreement FTA negotiations. Given the uncertainty surrounding global trade, both parties have opted for a twophase approach, aiming to conclude negotiations by 16 May, focusing on market access, services, investment, and government procurement. India seeks zero tariffs on labourintensive goods, whereas the EU is advocating for duty reductions on cars, medical items, wines, and spirits. To expedite discussions, Commerce Minister Piyush Goyal recently met with EU officials in Brussels. If finalised, the agreement could boost Indian exports of textiles, steel, and pharmaceuticals. Read More..

B2B Tech News | 2 months ago      

China’s CATL Targets $4 Billion in Hong Kong IPO for Global Expansion

Among the largest initial public offerings IPOs in Hong Kong this year, the Chinese battery giant CATL is expected to raise at least $4 billion throug

Among the largest initial public offerings IPOs in Hong Kong this year, the Chinese battery giant CATL is expected to raise at least $4 billion through its listing. With trading set to commence on 20 May, the company intends to sell 117.9 million shares at a maximum price of HK$263 each. The funds will contribute to CATLs international expansion, which includes the construction of a battery facility in Hungary expected to create 10,000 jobs. Cornerstone investors, including Sinopec and the Kuwait Investment Authority, have pledged $2.6 billion in connection with the IPO. However, due to geopolitical concerns, U.S. investors are prohibited from participating. Read More..

B2B Tech News | 2 months ago      

U.S. and China Resume HighStakes Trade Talks in Geneva Amid Tariff Standoff

After imposing duties of over 100% on each others goods, senior U.S. and Chinese officials have commenced trade talks in Geneva with the aim of defusi

After imposing duties of over 100% on each others goods, senior U.S. and Chinese officials have commenced trade talks in Geneva with the aim of defusing the situation. They are meeting in person for the first time since the tariff impasse, with U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng leading the discussions. President Donald Trump described the talks as a "total reset," suggesting positive progress, despite no immediate breakthroughs being announced. The villa of Switzerlands UN ambassador was chosen as a neutral venue for the talks. Read More..

B2B Tech News | 2 months ago      

Spain’s GMV Unveils LUPIN, a Lunar Navigation System Inspired by Google Maps

LUPIN, a GPSlike navigation system for the Moon, was introduced by the Spanish technology company GMV with the aim of making lunar expeditions as stra

LUPIN, a GPSlike navigation system for the Moon, was introduced by the Spanish technology company GMV with the aim of making lunar expeditions as straightforward as using Waze or Google Maps. Created in partnership with the European Space Agency ESA, LUPIN tracks the location of rovers and individuals in realtime by utilising signals from satellites orbiting the Moon. The lunarlike environment of Fuerteventura, Spain, served as the systems testing ground. To support future human colonies and Mars exploration, GMV aims to map dark areas such as the lunar far side and south pole by combining satellite data with existing lunar cartography. Read More..

B2B Tech News | 2 months ago      

Pakistan Faces Cyber Intrusions as Government Accounts Issue Conflicting Statements

Several government social media accounts in Pakistan have posted contradictory information before taking it down, raising suspicions of hacks. Concern

Several government social media accounts in Pakistan have posted contradictory information before taking it down, raising suspicions of hacks. Concerns about cyber attacks were raised when the Pakistan Stock Exchange website was unavailable for hours and displayed a maintenance banner. Citing significant losses, the Economic Affairs Division placed a request for foreign loans but later removed it, stating that their account had been compromised. Likewise, after first reporting damage from an Indian naval strike, the Karachi Port Trust eventually denied the claim and claimed their account was tainted. India is bolstering its cybersecurity defences in the meanwhile, and Finance Minister Nirmala Sitharaman will assess the financial sectors readiness for possible cyberattacks. Read More..

B2B Tech News | 2 months ago      

Apple’s iOS 19 Streamlines Public WiFi Access with Automatic Credential Syncing

A new feature in iOS 19 from Apple will make it easier to access public WiFi by synchronising login information across all Apple devices connected to

A new feature in iOS 19 from Apple will make it easier to access public WiFi by synchronising login information across all Apple devices connected to the same Apple ID. Currently, when connecting to networks at hotels, cafés, and gyms, customers need to authenticate each device independently, necessitating the submission of numerous forms. To eliminate the need for repeated authentication, iOS 19 will allow users to complete the login form just once, and Apple will seamlessly sync credentials across associated devices. This upgrade reinforces smooth connectivity across Apples products and aligns with the companys broader ecosystem enhancements. Read More..

B2B Tech News | 2 months ago