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Ethiopia and EU Seal Historic 650 Million Euro Deal for Reconciliation

Following the ceasefire that ended a conflict in November, Ethiopia and the European Union have taken a big step towards normalising relations by sign

Following the ceasefire that ended a conflict in November, Ethiopia and the European Union have taken a big step towards normalising relations by signing a cooperation agreement worth 650 million euros $680 million. Due to unrest in the Tigray region in 2020, the EU aid package, initially valued at 1 billion euros and slated for Ethiopia from 2021 to 2027, was temporarily suspended. Although this deal supports Ethiopias postwar reconstruction and economic reforms, direct budgetary assistance to the government still needs to be prohibited, pending the fulfilment of specific political requirements. The UNs probe into Ethiopias violations of human rights has the support of the EU as well. Read More..

B2B Tech News | 2 years ago          

Strong Dollar & Rising Yields Weigh on Euros Stability

The euro faces stronger headwinds as rising oil costs and Italys budgetary woes put their value at risk, possibly pushing it near the crucial $1 level

The euro faces stronger headwinds as rising oil costs and Italys budgetary woes put their value at risk, possibly pushing it near the crucial $1 level. The euro is headed for a third straight year of losses after dropping 3% against the dollar in the third quarter. While a strong dollar and rising U.S. Treasury yields have contributed, regional variables like susceptibility to high oil costs and geopolitical risks also impact the euros stability. Analysts predict that the euro may find avoiding parity with the dollar challenging if oil prices rise beyond $100 per barrel. Some predictions state that by years end, the euro would decline to $1.02 or $1.03. Exporters benefit from a weaker euro. However, the ECB may need attention because higher import costs lead to more significant inflation. Read More..

B2B Tech News | 2 years ago          

UBS Offers Attractive Rates to Win Back Customers from Credit Suisse

After purchasing Credit Suisse, UBS is enticing consumers with abovemarket deposit rates. At Credit Suisse, which is now a subsidiary of UBS, customer

After purchasing Credit Suisse, UBS is enticing consumers with abovemarket deposit rates. At Credit Suisse, which is now a subsidiary of UBS, customers who deposit more than 50,000 Swiss francs for three months get about 1.8% interest. Zuercher Kantonalbank and Raiffeisen provide 1.34% and 1.2% for comparable deposits, respectively. Following Credit Suisses impending collapse, UBS is adopting this tactic to win back client money and client confidence in Switzerland. Higher deposit rates, according to JPMorgan analyst Kian Abouhossein, could reduce Credit Suisses outflows but could also have an impact on revenue. UBS wants to recoup some assets worth close to $500 billion that Credit Suisse lost in the previous two years. Read More..

B2B Tech News | 2 years ago          

Chinese StateBacked Malware Strikes iOS Users in 2020 Watering Hole Attack

A 2020 watering hole attack against iOS users employed the malware LightSpy, linked to the Chinese statesponsored APT41 gang. The 14 plugins that make

A 2020 watering hole attack against iOS users employed the malware LightSpy, linked to the Chinese statesponsored APT41 gang. The 14 plugins that make up this program are in charge of data exfiltration. The Core implant manages critical attack operations, such as gathering device fingerprints, communicating with C2 servers, and retrieving commands. In addition to selfupdating, LightSpy Core offers 24 commands. Plugins that are notable for their abilities to track locations, record microphone sounds even during calls, and steal WeChat Pay purchase histories are just a few. Researchers found active servers in China, Hong Kong, Taiwan, Singapore, and Russia to emphasise the continuous threat. Because of how the malware is distributed, users are cautioned about installing software from unreliable sources. Read More..

B2B Tech News | 2 years ago          

Ofcom Targets Amazon and Microsoft in UK Cloud Market Probe

With a combined market share of between 60 and 70 per cent in the UKs cloud computing market, Amazon and Microsoft are prepared to request an antitrus

With a combined market share of between 60 and 70 per cent in the UKs cloud computing market, Amazon and Microsoft are prepared to request an antitrust inquiry into their strong positions. In its final report, Ofcom will go into more detail about its Aprilsignaled objective. The current state of the cloud computing market is a source of worry since it makes it difficult for customers to negotiate reasonable rates because of technical limitations and incentives that favour specific providers. In Ofcoms opinion, these actions may be anticompetitive and disadvantage smaller cloud providers. Amazon and Microsoft declared their willingness to work with Ofcom, but Microsoft also warned about potential customer harm. By October 5, Ofcom will decide whether to send a market to the Competition and Markets Authority. Read More..

B2B Tech News | 2 years ago          

Intel Unleashes Independent Chip Unit for Public Offering

Intel has announced plans to operate its programmable chip unit as an independent business from January, with intentions to hold a public stock offeri

Intel has announced plans to operate its programmable chip unit as an independent business from January, with intentions to hold a public stock offering within the next two to three years. This unit was acquired through the purchase of Altera for $16.7 billion in 2015 and produces programmable chips used in various applications, including defense and 5G wireless equipment. Sandra Rivera, an Intel veteran, will oversee the new unit. The move aligns with Intels strategy to streamline its operations and generate capital for its turnaround efforts, focusing on its manufacturing arm to compete with rivals like Taiwan Semiconductor Manufacturing Co. Read More..

B2B Tech News | 2 years ago          

Ripples Legal Victory Shakes Up Cryptocurrency Market Control

A federal judges denial of the Securities and Exchange Commissions SEC request to appeal her ruling regarding Ripple Labs is a significant blow to the

A federal judges denial of the Securities and Exchange Commissions SEC request to appeal her ruling regarding Ripple Labs is a significant blow to the SECs control over the cryptocurrency market. Ripples XRP token sales on public exchanges complied with federal securities laws, according to the judges July 13 decision, because buyers did not expect to make money off of Ripples efforts. The conclusions regarding the "programmatic" sales and other distributions of XRP have been the subject of an appeal by the SEC. The court concluded that her finding did not conflict with a different ruling on Terraform Labs Terra USD token but did not find any significant reasons for dissent. The trial in the Ripple case is scheduled for April 23, 2024. Read More..

B2B Tech News | 2 years ago          

Stockholm’s ‘Friends’ Arena to host a historic tech event

Launched on October 4th, The Tech Arena is an unprecedented international tech event slated for February 2223, 2024, at Stockholms Friends Arena, a na

Launched on October 4th, The Tech Arena is an unprecedented international tech event slated for February 2223, 2024, at Stockholms Friends Arena, a national football stadium. It will assemble business leaders, entrepreneurs, and decisionmakers worldwide to deliberate on pivotal themes like innovation, economics, sustainability, and global megatrends. Sweden, ranked as the worlds secondmost innovative country and a significant producer of unicorns per capita, garners global curiosity for its impactfocused industrial sector. The government plans to unveil a new strategy for foreign trade, investments, and global competitiveness, with a strong focus on innovation and research cooperation, making The Tech Arena an ideal platform for fostering collaboration and forging partnerships. Read More..

B2B Tech News | 2 years ago          



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