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Huawei to Begin Construction of Mobile Equipment Factory in France

Next year, Huawei plans to start building its facility in France to produce network equipment for mobile phones. The COVID19 pandemic caused delays fo

Next year, Huawei plans to start building its facility in France to produce network equipment for mobile phones. The COVID19 pandemic caused delays for the project, which was once proposed in 2020 with an initial cost of 200 million euros $215.28 million. Despite limitations or prohibitions imposed by several European countries on deploying Huaweis 5G equipment, the business is still determined to open its first facility in Europe. A French government source said the facility is scheduled to operate in 2025 and is situated in Brumath, close to Strasbourg. The French government notified telecom providers in 2020 that when their licences for Huawei 5G equipment expire, they will not be allowed to renew them. Read More..

B2B Tech News | 2 months ago      

Dangote MegaRefinery in Nigeria Receives First Crude Oil Shipment

A significant milestone for the project was reached when the billionaire Aliko Dangotes massive refinery in Nigeria received its first supply of crude

A significant milestone for the project was reached when the billionaire Aliko Dangotes massive refinery in Nigeria received its first supply of crude oil. The refinery, situated in the Lekki free zone east of Lagos, seeks to completely satisfy Nigerias gasoline requirements, ending periodic fuel shortages and raising the standard of fuel available for use. Because its state refineries are inefficient, Nigeria, one of Africas largest oil producers, now imports most of its fuel. Launched in 2013, the $18.5 billion+ Dangote Petroleum Refinery project is anticipated to have the highest crude refining capacity on the African continent when fully operational. It will eventually refine 650,000 barrels per day after starting at 350,000 barrels per day. Read More..

B2B Tech News | 2 months ago      

Informal Talks Begin for New Negotiations on North American Free Trade Agreement

American ambassador to Canada, David Cohen, has revealed that U.S. officials have started informal conversations to be ready for fresh negotiations on

American ambassador to Canada, David Cohen, has revealed that U.S. officials have started informal conversations to be ready for fresh negotiations on the North American Free Trade Agreement NAFTA. As the sunset date draws near, Cohen stated that internal talks are taking place to decide what would be the subjects of negotiations with Mexico and Canada. He did stress, though, that there would be none of the "existential drama" of the NAFTA negotiations in 2017–2018. The United StatesMexicoCanada Agreement USMCA became the place of NAFTA in 2020. Read More..

B2B Tech News | 2 months ago      

US Dollar Opens Week Positively, Eyes on Inflation Data and Federal Reserve Meeting

With attention to important events like the US inflation report and the Federal Reserves final policy meeting of the year, the US dollar started the w

With attention to important events like the US inflation report and the Federal Reserves final policy meeting of the year, the US dollar started the week on a solid note. With a rise above 145 yen, the dollar gained strength versus the Japanese yen. We are constantly monitoring the policies of the Bank of Japan and any prospective modifications. The US dollar index increased by more than 0.7% the week before, although it remained stable at 103.95. Market expectations will be significantly influenced by the Federal Open Market Committee FOMC meeting that is coming up, as well as US inflation statistics. Amidst poor domestic demand, deflationary fears were exacerbated by Asias fastestpaced consumer price decline in three years in China. The offshore yuan remained muted, a reflection of Chinas economic difficulties. Read More..

B2B Tech News | 2 months ago      

Macys Faces $5.8 Billion Privatization Bid from Arkhouse and Brigade Capital

A consortium of investors led by Brigade Capital and Arkhouse Management has offered a $5.8 billion offer to take Macys private. Investment firms Arkh

A consortium of investors led by Brigade Capital and Arkhouse Management has offered a $5.8 billion offer to take Macys private. Investment firms Arkhouse Management, which focuses on real estate, and Brigade Capital Management, which manages worldwide assets, put in a bid to buy the shares that they do not already own for $21 each. Compared to Macys closing price of $17.39 on the previous Friday, this deal represents a 20.76% premium. The investing group thinks Macys is undervalued in the open markets and now has a sizable interest in the store. Regarding the situation, Macys declined to comment. Read More..

B2B Tech News | 2 months ago      

Cyberattack Disrupts Greater Richmond Transit Companys Network

Over the Thanksgiving weekend, a hack disrupted the Greater Richmond Transit Company GRTC computer network, which oversees central Virginias transport

Over the Thanksgiving weekend, a hack disrupted the Greater Richmond Transit Company GRTC computer network, which oversees central Virginias transportation system. As the transit firm worked to recover its network, the Play ransomware group published details about GRTC on its leak site and took credit for the attack. Play has given us a deadline of December 13th to pay an unspecified ransom. Services are operating as planned, and GRTC has hired outside experts to investigate the event. In 2023, several municipal services, including those in Oakland, Dallas County, and Lowell, Massachusetts, were attacked by the Play ransomware group. Read More..

B2B Tech News | 2 months ago      

Nvidia Plans to Establish Base in Vietnam for Semiconductor Development

To support the growth of Vietnams semiconductor sector, Nvidia intends to open a base there. The CEO of Nvidia, Jensen Huang, reaffirmed the companys

To support the growth of Vietnams semiconductor sector, Nvidia intends to open a base there. The CEO of Nvidia, Jensen Huang, reaffirmed the companys intentions to establish a centre in Vietnam and stressed the significance of the market there. The base hopes to draw talent from across the world to support Vietnams digitalisation and semiconductor ecosystem. Vietnam is attempting to grow its semiconductor sector, and Nvidias decision is in line with the nations aspirations to enter the design and production of chips. The corporation is scheduled to explore semiconductor collaboration partnerships with local IT companies, having previously spent $250 million in Vietnam. Read More..

B2B Tech News | 2 months ago      

Antitrust Authorities Scrutinize Microsofts Partnership with OpenAI

Antitrust regulators in the US and the UK are investigating Microsofts collaboration with OpenAI, the company behind ChatGPT, in light of recent chang

Antitrust regulators in the US and the UK are investigating Microsofts collaboration with OpenAI, the company behind ChatGPT, in light of recent changes to OpenAIs leadership, including the resignation and reappointment of CEO Sam Altman. Microsoft, one of OpenAIs biggest backers, is an observer on the startups board but does not have voting rights. While the US Federal Trade Commission FTC looks into possible antitrust law violations, the UK Competition and Markets Authority CMA assesses whether Microsofts investment might hurt UK competition. Both authorities have not yet launched an official inquiry, and the questions are still in the early stages. The EU antitrust regulators are closely watching the matter. Read More..

B2B Tech News | 2 months ago