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Kaisa Groups Debt Crisis Creditors Facing Less Than 5% Recovery

Chinese real estate developer Kaisa Group, facing a windingup suit due to the nonpayment of onshore bonds, has disclosed that if the business is liqui

Chinese real estate developer Kaisa Group, facing a windingup suit due to the nonpayment of onshore bonds, has disclosed that if the business is liquidated, creditors will only receive less than 5% of their investments. The economy of China is under pressure as several Chinese developers struggle with debt difficulties, with Kaisa being one of the first to fail. Even though Kaisas offshore debt default occurred almost two years ago, the company must disclose a restructuring strategy. The business has asked for the petition to be dismissed, claiming that mainland Chinese law should apply. Kaisa has $31.91 billion in total liabilities and $12 billion in offshore debt. Read More..

B2B Tech News | 2 months ago          

Chinas Largest Developer, Country Garden, Faces Offshore Debt Dilemma

The largest private property developer in China, Country Garden Holdings, has expressed concerns about being able to make the offshore payment commitm

The largest private property developer in China, Country Garden Holdings, has expressed concerns about being able to make the offshore payment commitments on its $5.81 billion in nonyuan loans and $10.96 billion in offshore bonds. The company highlighted continuous pressure on its liquidity position and uncertainty surrounding asset disposal. Since a liquidity crisis started in 2021, almost 40% of Chinese house sales companies—mostly private property developers—have missed loan payments. Country Garden has hired advisors to evaluate its financial structure and liquidity position. While struggling financially, it recently received clearance from onshore bondholders to extend nine bonds totalling 14.7 billion yuan. Read More..

B2B Tech News | 2 months ago          

Lazarus Groups $900 Million Cryptocurrency Laundering Spree Revealed

Between July 2022 and July 2023, the Lazarus Group, which has ties to North Korea, laundered nearly 900 million dollars using cryptocurrencies. Approx

Between July 2022 and July 2023, the Lazarus Group, which has ties to North Korea, laundered nearly 900 million dollars using cryptocurrencies. Approximately 1/7th of crosschain criminal operations, including crypto thefts, scams, and Ponzi schemes, are carried out by this group. As a result of law enforcement efforts to target mixers, threat actors started using chainhopping techniques to resell stolen goods. These individuals take advantage of the lack of reliable mainstream blockchain analytics tools. Furthermore, in the last 104 days, Lazarus stole about $240 million worth of cryptocurrency assets from several companies, including Atomic Wallet, CoinsPaid, Alphapo, Stake.com, and CoinEx. The research emphasises the difficulties law enforcement and virtual asset services confront in battling cryptocurrency criminality. Read More..

B2B Tech News | 2 months ago          

Vodafone Takes the Lead in Open RAN with Intel Partnership

Vodafone is reaffirming its commitment to Open RAN Radio Access Network technologies by collaborating with Intel to develop a unique chipset design. F

Vodafone is reaffirming its commitment to Open RAN Radio Access Network technologies by collaborating with Intel to develop a unique chipset design. For additional flexibility, Open RAN allows equipment mixing from many providers. Vodafone and Orange successfully used Open RAN to make 4G calls in Romania. Nokia is currently testing the technology there. This joint venture with Intel aims to accelerate innovation by creating chipsets for testing and prototyping. To promote competition and innovation in mobile network infrastructure, Open RAN aims to diversify a market currently dominated by proprietary solutions from firms like Ericsson, Nokia, and Huawei. The goal is to advance Open RAN adoption and competition in the industry. Read More..

B2B Tech News | 2 months ago          

AI Dominance Sparks Global Regulatory Rush

Andreas Mundt, the head of Germanys cartel office, has raised alarm about how artificial intelligence AI is becoming increasingly important in enhanci

Andreas Mundt, the head of Germanys cartel office, has raised alarm about how artificial intelligence AI is becoming increasingly important in enhancing Big Techs market dominance. He warns that tech behemoths like Google and Microsoft, which have made significant investments in AI, may use their enormous data stores to gain an advantage in various markets, including smart homes, online advertising, and more. Governments worldwide are scrambling to create AI regulations, with the European Union hoping to do so soon. Aware of the potential for smaller providers to influence the AI environment, Mundt emphasises the necessity of preventing AI from further enhancing corporate domination. Read More..

B2B Tech News | 2 months ago          

EU Probes Microsoft and Apple Services Under Digital Markets Act

EU antitrust regulators are seeking input from Microsoft users and rivals on whether Microsofts Bing, Edge and Microsoft Advertising and Apples iMessa

EU antitrust regulators are seeking input from Microsoft users and rivals on whether Microsofts Bing, Edge and Microsoft Advertising and Apples iMessage should be subject to the Digital Markets Act DMA. This follows investigations initiated by the European Commission in September, examining whether these services should be categorized as core platform services under the DMA. The DMA imposes obligations on major tech companies like Microsoft, Apple, Google, Amazon, Meta Platforms, and ByteDance to facilitate thirdparty apps on their platforms and enable easier switching between default and rival apps. The Commission is gathering feedback on the importance and usage of these services. Read More..

B2B Tech News | 2 months ago          

UAEs ADNOC Paves Way to Global Expansion for Economic Diversification

By expanding internationally and looking for new revenue sources, the United Arab Emirates UAE is transforming its stateowned Abu Dhabi National Oil C

By expanding internationally and looking for new revenue sources, the United Arab Emirates UAE is transforming its stateowned Abu Dhabi National Oil Company ADNOC into a global oil major. This action supports the UAEs mission to diversify its economy and lessen reliance on fossil fuels. ADNOC continuously looks for potential in liquefied natural gas LNG, gas, petrochemicals, and renewable energy. Additionally, the company plans to invest in a natural gas project in Mozambique and buy LNG assets in Africa. As they look to monetize reserves and explore prospects outside of their boundaries, Saudi Arabia, Qatar, and ADNOCs stateowned energy giants are transforming akin to those of ADNOC. ADNOC has strategically hired new employees to support this transformation, growing its workforce by 13% this year. Read More..

B2B Tech News | 2 months ago          

Global Debt Crisis Threatens Poorest Nations Survival

According to research by Oxfam International, several of the worlds poorest countries are on the verge of default due to significant budget cuts that

According to research by Oxfam International, several of the worlds poorest countries are on the verge of default due to significant budget cuts that will total more than $220 billion over the next five years. Until 2029, interest and debt repayments will cost low and lowermiddleincome nations nearly $500 million daily. Due to the postCOVID19 economic shocks, inflation, and rising global interest rates, many developing countries are experiencing debt difficulties. Oxfam urges the IMF and World Bank to solve the crisis by emphasising the development of a fairer system rather than stressing austerity measures and increased borrowing. During facetoface discussions for defaulted countries like Zambia and Ghana, some advancement in debt restructuring is anticipated. Read More..

B2B Tech News | 2 months ago          



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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