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IMF and World Bank Concerns Emerging Economies Triple Threat Debt, China, Fed

The recent selloff in U.S. Treasury bonds, Chinas economic slowdown, and probable future Federal Reserve rate hikes are just a few problems emerging e

The recent selloff in U.S. Treasury bonds, Chinas economic slowdown, and probable future Federal Reserve rate hikes are just a few problems emerging economies face. Debt restructurings for failing nations may advance, particularly with inperson discussions between creditors and governments. The concern of how Chinas slowing economy may influence other emerging countries globally and the demand for commodities is raised. Uncertainties regarding foreign aid and unpaid debt plague Ukraine. Argentina, Pakistan, and Kenya are the top three nations at risk of defaulting on their sovereign debt. Turkey is attempting to acquire money despite a sudden economic downturn. There is pressure on multilateral development banks to enhance lending for climate change and development. Read More..

B2B Tech News | 2 years ago          

Italys Rising Deficits Could Threaten ECB Bond Support

According to Scope Ratings, Italys rising budget deficits for this year and the following year could prevent it from receiving bond support from the E

According to Scope Ratings, Italys rising budget deficits for this year and the following year could prevent it from receiving bond support from the European Central Bank ECB, harming its credit profile. Italy recently increased its deficit targets while cutting growth forecasts, which caused the yield difference between Italian and German bonds to reach its most prominent position since March—more than 200 basis points. The EUs fiscal standards must be followed for the ECBs Transmission Protection Instrument TPI to be activated. Italy plans to meet the EUs 3% deficit ceiling by 2026 with only a modest debt reduction until then. On December 1, Scope will evaluate Italys debt rating. Read More..

B2B Tech News | 2 years ago          

Iraq Will Say Goodbye to Dollar Cash Transactions in 2024

Iraq will ban cash withdrawals and transactions in dollars as of January 1, 2024, to stop using its hard currency reserves for financial crimes and de

Iraq will ban cash withdrawals and transactions in dollars as of January 1, 2024, to stop using its hard currency reserves for financial crimes and defy American sanctions on Iran. This action aims to stop the 50% of the $10 billion in cash that Iraq buys from the New York Federal Reserve each year that is used illegally. It is part of a larger initiative to lessen the economys reliance on the dollar, which has been favoured due to previous conflicts. In 2024, withdrawals from existing dollar deposits will still be permitted. Still, withdrawals from new deposits will only be permitted in the local currency at the official exchange rate. The Iraqi dinar trades at 1,560, roughly 15% less than the official rate. Read More..

B2B Tech News | 2 years ago          

Tesla Drops EV Prices in the U.S. – Model 3 and Model Y Now Cheaper

Following price cuts on its Model S and Model X, Tesla has lowered the price of its Model 3 and Model Y electric vehicles EVs in the United States by

Following price cuts on its Model S and Model X, Tesla has lowered the price of its Model 3 and Model Y electric vehicles EVs in the United States by 2.7% to 4.2%. The Model 3 is now $1,250 less expensive at $38,990, and the Model Y longrange model is now $2,000 less expensive at $48,490. This action is a part of Teslas plan to combat competition and maintain its competitiveness in the declining EV market. In 2023, prices for the base Model 3 were reduced by 17%, while those for the longrange Model Y were cut by 26%. Tesla has reduced the cost of several more expensive Model Y and Model 3 variations. Read More..

B2B Tech News | 2 years ago          

Petronas Unleashes GameChanging 5G Network for Businesses

Petronas, the stateowned energy firm of Malaysia, has launched the first private commercial 5G network in the country to power up the enterprises in t

Petronas, the stateowned energy firm of Malaysia, has launched the first private commercial 5G network in the country to power up the enterprises in the country. Petronas thinks this action will improve internal processes and result in broader industry changes. At the companys regasification terminal in Sungai Udang, Melaka state, the private 5G network was successfully implemented. According to Malaysias Deputy Prime Minister Fadillah Yusof, this launch signals the start of a promising collaboration between the public and private sectors. It represents a significant advancement for the countrys energy and telecommunications industries. Read More..

B2B Tech News | 2 years ago          

Former Samsung Executive Exposes Googles Pressure in Antitrust Trial

Former Samsung Next executive Patrick Chang testified during the antitrust trial against Google that he encountered opposition when he suggested exten

Former Samsung Next executive Patrick Chang testified during the antitrust trial against Google that he encountered opposition when he suggested extending Branch Metrics software, which enables inapp searching, to Samsungs Android smartphones. In response to Googles insistence, Branch Metrics had to restrict the features of its program to allay Googles worries. Additionally, AT&T and other wireless providers resisted Samsung. Googles claimed $10 billion yearly payments to smartphone manufacturers and carriers to retain its search monopoly are at the centre of the trial. The U.S. Justice Department wants to show that Google abused its market dominance in search and advertising. At the same time, Google insists that its actions were lawful. Read More..

B2B Tech News | 2 years ago          

OpenAIs Quest for AI Chip Independence

According to reports, OpenAI is looking into developing its own artificial intelligence AI chips to solve the scarcity of expensive AI processors on w

According to reports, OpenAI is looking into developing its own artificial intelligence AI chips to solve the scarcity of expensive AI processors on which it depends. A shortage of cuttingedge processors and high operating costs have prompted CEO Sam Altman to prioritise buying more AI chips. The cost of each query for OpenAIs ChatGPT, which uses Nvidia GPUs, is about 4 cents. OpenAI would join the ranks of digital behemoths like Google and Amazon if it built specialised AI chips. To achieve this, the corporation has even thought about possible acquisitions. OpenAI may continue to rely on industry chip suppliers like Nvidia and AMD for the foreseeable future if it decides not to move forward with this expensive effort. Read More..

B2B Tech News | 2 years ago          

Metro Banks Shares Plunge 25% Amidst Financial Rescue Talks

As the British lender considered raising £600 million $728 million through debt and equity to strengthen its finances, Metro Banks shares fell more t

As the British lender considered raising £600 million $728 million through debt and equity to strengthen its finances, Metro Banks shares fell more than 25%. Since midFebruary, the bank has lost twothirds of its value, now only worth £87 million. The Prudential Regulation Authority PRA and Financial Conduct Authority FCA of the Bank of England have called Metro Banks chairperson and CEO to an urgent meeting. The bank may raise money by selling more than £100 million shares. Metro Bank asserted that it had met its basic capital requirements. Still, it considered stock and debt issuance, refinancing, and asset sales options. Read More..

B2B Tech News | 2 years ago          



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