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GLOBAL NEWS

Meta’s textbased chat feature now available for Horizon Worlds users

Meta is rolling out its textbased chat feature, known as "world chat," for all Horizon Worlds users this week. World chat enables communication within

Meta is rolling out its textbased chat feature, known as "world chat," for all Horizon Worlds users this week. World chat enables communication within the virtual reality environment without the need for spoken words. Initially introduced in a limited capacity in June, it can be accessed by users by lifting their left wrist while in VR. To simplify textbased conversations, Meta has included quick reply options, saving users from manually typing out messages. Despite previous reports of user retention challenges, Meta has been actively enhancing Horizon Worlds with features such as world chat, better moderation tools, and the addition of avatar legs to improve the social experience. Read More..

B2B Tech News | 2 months ago      

Australias resource and energy exports brace for dip amid softening global demand

Australias export earnings in the resources and energy sector are anticipated to decline over the next two years due to reduced global demand, primari

Australias export earnings in the resources and energy sector are anticipated to decline over the next two years due to reduced global demand, primarily from China, its major trading partner. It is projected that commodity export earnings will decrease from the record A$467 billion in the previous year to A$400 billion in 2023/24 and further to A$352 billion by 2024/25. Factors contributing to this decline include the global economic slowdown, especially in China, as it recovers slowly from COVID19related lockdowns, as well as more favorable supply conditions leading to lower commodity prices. Despite this, these exports remain crucial to Australias economy. Read More..

B2B Tech News | 2 months ago      

Carlsberg cuts ties with Russian subsidiary amidst ownership dispute

Danish brewery giant Carlsberg has terminated licensing deals with its Russian subsidiary, which Russian authorities seized in July due to plans to se

Danish brewery giant Carlsberg has terminated licensing deals with its Russian subsidiary, which Russian authorities seized in July due to plans to sell the company following Moscows invasion of Ukraine. Many Western companies have ceased operations in Russia due to the conflict, resulting in significant sanctions against Moscow by the U.S. and Europe. Carlsberg had previously announced a buyer for Baltika, its subsidiary since 2000, and its 8,400 employees in June. However, a subsequent decree signed by President Vladimir Putin in July placed the business under state control. Baltika will still be permitted to sell its existing inventory until April 2024. Exiting the Russian market, which accounted for 9% of Carlsbergs profits in 2021, led to the company posting a net loss for 2022. Read More..

B2B Tech News | 2 months ago      

UPI and PayNow agreement sets stage for CrossBorder transactions

NPCI International Payments Ltd, the global branch of Indias National Payment Corporation, is set to sign a memorandum of understanding MoU with Al Et

NPCI International Payments Ltd, the global branch of Indias National Payment Corporation, is set to sign a memorandum of understanding MoU with Al Etihad Payments in Abu Dhabi. This agreement, to be signed in the presence of Indias Commerce and Industry Minister Piyush Goyal during his visit to Abu Dhabi, will focus on developing a domestic card scheme in the UAE based on Indias RuPay debit and credit card technology. Goyal will also cochair the eleventh meeting of the IndiaUAE HighLevel Task Force on Investments and hold discussions with key figures from Mubadala, the UAEIndia Business Council, business leaders, and prominent food importers from the GCC. The UPI system has already been adopted by the UAE, Bhutan, and Nepal. Additionally, in 2023, UPI and Singapores PayNow established an agreement enabling crossborder transactions between the two countries. Read More..

B2B Tech News | 2 months ago      

Barclays Fights Back Against Whistleblower Retaliation Ruling

An Indian courts finding that Barclays retaliated against a whistleblower, a former senior IT manager who expressed concerns about improper handling o

An Indian courts finding that Barclays retaliated against a whistleblower, a former senior IT manager who expressed concerns about improper handling of data loss, is being appealed by the bank. Barclays was ordered by a Pune court to pay the whistleblower two years wages, or about 9,600,000 Indian rupees $115,620 because the bank fired him in retribution. In a hearing at the Bombay High Court planned for October 20, Barclays will argue that the ruling should be reversed. The case raises concerns regarding Barclays whistleblower policies. Although the bank asserts its dedication to whistleblower protection, issues remain over its subsidiaries uniform execution. The case revolves around 2019 data loss. Read More..

B2B Tech News | 2 months ago      

RBA Keeps Interest Rate at 4.1% Amid Economic Concerns

Under its new governor, Michele Bullock, the Reserve Bank of Australia RBA has maintained its interest rate at 4.1% for four months. Bullock foreshado

Under its new governor, Michele Bullock, the Reserve Bank of Australia RBA has maintained its interest rate at 4.1% for four months. Bullock foreshadowed potential rate increases by warning about persistent inflation threats. The RBA continues to pay close attention to changes in the labour market, household spending habits, inflation trends, and global economic trends. Core inflation continued to decrease despite slight monthly inflation increases. Concerns about probable rate increases at years end are increased by general elevated inflation. According to RBA papers, financial hardship is indicated by delayed arrears data and a rise in calls to the national debt helpline. For insights into how arrears and nonperforming loans are changing, the RBA seeks to investigate a greater spectrum of cuttingedge data. Read More..

B2B Tech News | 2 months ago      

Novo Nordisk Wins Patent Battle with Mylan

Mylan Pharmaceuticals, a Viatris company, attempted to challenge essential patents held by Novo Nordisk for its diabetes and weightloss medications

Mylan Pharmaceuticals, a Viatris company, attempted to challenge essential patents held by Novo Nordisk for its diabetes and weightloss medications, Wegovy and Ozempic. Still, such attempts were dismissed by the U.S. Patent Trial and Appeal Board. Mylan had attempted to have these patents invalidated because the antidiabetes drug liraglutide made them conspicuous. Novo Nordisk has a strong defence strategy for its intellectual property. According to analysts, Wegovy, a very successful weightloss medication, is expected to generate more than $100 billion in sales by the end of the decade. Profits from Wegovy and Ozempic have made Novo Nordisk the most valuable firm in Europe. Read More..

B2B Tech News | 2 months ago      

Russian Rouble Dips Below $100 Mark Amid Currency Outflows

Due to currency outflows and a declining current account surplus, the Russian rouble momentarily fell below the 100tothedollar mark. It was reminiscen

Due to currency outflows and a declining current account surplus, the Russian rouble momentarily fell below the 100tothedollar mark. It was reminiscent of a similar decline in August, which prompted the Russian central bank to impose a 350basispoint emergency increase in interest rates to 12%. At the beginning of every month, the rouble is generally under pressure as exporters stop converting their foreign exchange profits to pay for domestic commitments. Russias account surplus decreased by 86% yearly to $25.6 billion from January through August due to decreased exports, Western sanctions, and shifting trading patterns. Despite prior rate increases, economists predict that the central bank will continue to tighten the money supply to fight inflation at its forthcoming meeting on October 27. Read More..

B2B Tech News | 2 months ago