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GLOBAL NEWS

The UK tech ecosystem reacts to the news that HSBC has purchased SVB UK.

Tech entrepreneurs, financiers, and ecosystem leaders in the United Kingdom have responded to the news that HSBC will save SVB UK. Insolvency proceedi

Tech entrepreneurs, financiers, and ecosystem leaders in the United Kingdom have responded to the news that HSBC will save SVB UK. Insolvency proceedings that were set to begin this morning were stopped by the banks overnight £1 purchase of the business. Protecting SVB UKs depositors, the majority of whom were UKbased tech startups, was crucial for the UK economy as a whole as well as the startup environment. The acquisition of SVB UK by HSBC means that no taxpayer funds have been used to guarantee the survival of these companies and many of the investors like us who support them. This occurred in a remarkable period of time without costing the taxpayer a single penny. Read More..

B2B Tech News | 6 days ago      

India testing a few crypto cases for tax evasion, seizes more than $115 million

The Enforcement Directorate of India is investigating several cryptocurrency cases for moneylaundering schemes and has seized $115.5 million to date.

The Enforcement Directorate of India is investigating several cryptocurrency cases for moneylaundering schemes and has seized $115.5 million to date. The Indian crime fighting agency has also arrested five people in cryptocurrencyrelated crimes and served a show cause notice on local exchange WazirX and its directors for cryptocurrency transactions totaling $338 million. India is moving forward with rules to better scrutinise the activities of cryptocurrency firms, despite its opposition to enacting a blanket law to regulate virtual digital assets. Last year, New Delhi took a tough stance on cryptocurrencies, imposing a 30% tax on all gains and a 1% deduction on each crypto transaction. This has severely reduced the number of transactions that local exchanges CoinSwitch Kuber, backed by Sequoia India and Andreessen Horowitz, can process. Read More..

B2B Tech News | 6 days ago      

After Silicon Valley Banks collapse, Australias record run of interest rate increases is more likely to come to an end.

The odds are increasing that Silicon Valley Banks failure will bring a stop to Australias record streak of rate increases as market trepidation and fa

The odds are increasing that Silicon Valley Banks failure will bring a stop to Australias record streak of rate increases as market trepidation and falling bank stock prices spread across the globe. Some traders have even begun pricing in the possibility of a cash rate decrease in Australia later this year, a position that had little support a week ago due to the collapse of the Californiabased SVB. a Logo for Silicon Valley Bank Why did Silicon Valley Bank fail, and is this the beginning of a banking crisis? Customers raced to withdraw their money out of fear for the banks financial soundness, which led to the failure of the SVB, which had its headquarters in California, on Friday. Read More..

B2B Tech News | 6 days ago      

Automated assetbacked lending for used car dealers is developed by Indonesias Broom.

Broom, an Indonesiabased autofinancing startup that wants to help used car dealers work more effectively by applying the assetbacked lending model to

Broom, an Indonesiabased autofinancing startup that wants to help used car dealers work more effectively by applying the assetbacked lending model to their businesses, has raised $10 million in preSeries A funding headed by Openspace Ventures. Pandu Adi Laras, CEO and cofounder of Broom, started the company when he needed to sell his car due to a lack of cash on hand and working capital. Andreas Sutanto, cofounder and CFO, and Laras founded Broom in 2021 and debuted its flagship service, Buyback, the following year. Read More..

B2B Tech News | 6 days ago      

Carbon Clean will increase its presence in North America.

To satisfy the soaring demand for its carbon capture technology, Carbon Clear, a major provider of carbon capture solutions globally, has announced a

To satisfy the soaring demand for its carbon capture technology, Carbon Clear, a major provider of carbon capture solutions globally, has announced a significant expansion in North America. In order to meet the demand for CycloneCC, its totally modular technology, the company expanded its US headquarters in Houston, Texas, and will treble its US personnel. The Inflation Reduction Act IRA has already led to a sharp increase in US inquiries for carbon clean, increasing up demand for industrial carbon capture. Carbon Clear has a new permanent location in Houston and longterm plans to spend more in the US, showing its dedication to this expanding sector. Read More..

B2B Tech News | 6 days ago      

Leading the Medical Revolution in Latin America are Brazil and Mexico.

Brazil and Mexico are at the forefront of a medical transformation taking place in Latin America. The growing IVD market is influenced by factors such

Brazil and Mexico are at the forefront of a medical transformation taking place in Latin America. The growing IVD market is influenced by factors such as population increase, government insurance, newly insured patients, expanding technology, and modernised healthcare facilities. Nonetheless, there are variations in the utilisation of IVD testing among the regional nations. While formulating plans to penetrate the Latin American market, IVD enterprises should keep these things in mind. With the launch of its El Alto Preclinical Radiopharmacy Cyclotron Complex, which will create Fluorodeoxyglucose FDG radiopharmaceuticals to be utilised in the treatment of cancer patients, Bolivia has reached a historic milestone. Read More..

B2B Tech News | 6 days ago      

EU relaxes regulations on green technology subsidies.

In an effort to address the threat that US and Chinese subsidies pose to European business, the European Commission on Thursday loosened state aid reg

In an effort to address the threat that US and Chinese subsidies pose to European business, the European Commission on Thursday loosened state aid regulations for green technology that reduces carbon emissions. The commission, the EUs executive arm, said the new regulations will apply until the end of 2025 and, in extraordinary instances, allow members to match subsidies granted in other countries where there is a serious risk of investments being diverted away from Europe. The EU worries that enterprises would be lured by state aid and cheaper energy prices in Asia and North America and decide to relocate, despite its desire to avoid starting a race to the bottom on subsidies. The EU is seeking a trade pact with the US that would give it access to Read More..

B2B Tech News | 6 days ago      

Mulilo Energy, a South African company, has a majority stake purchased by CIP.

With its Copenhagen Infrastructure New Markets Fund I, CIP has purchased a majority stake in South African renewable energy company Mulilo Energy Hold

With its Copenhagen Infrastructure New Markets Fund I, CIP has purchased a majority stake in South African renewable energy company Mulilo Energy Holdings for an undisclosed sum CI NMF I. Mulilo has built 440MW of wind and solar projects and a 25GW pipeline of onshore wind, solar photovoltaic, and storage projects. CIP is dedicated to collaborating closely with regional stakeholders to swiftly implement renewable energy projects in South Africa and positively influence the transition to a greener economy. The deal is pending Competition Commission regulatory and change of control approvals. Read More..

B2B Tech News | 6 days ago