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Focus on Egypt Cairo needs less than $15 billion from the IMF. Homzmart raised $23 million in preseries B rounds

This is according to a report by Goldman Sachs Group Inc. It is estimated that the North African country could receive a package of 15 billion dollars

This is according to a report by Goldman Sachs Group Inc. It is estimated that the North African country could receive a package of 15 billion dollars from the IMF to raise the necessary financing in the next three years. Transport sector The Egyptian government aims to increase its investment in the transport sector by 27.5% this fiscal year to 307 billion Egyptian pounds $16 million. It is targeting £672bn in 2023/23, up from £586.5bn in 2021/22. Cairobased ecommerce startup Homzmart, a furniture and home goods ecommerce platform, has raised $23 million in a preseries B round, bringing its total investment to around 40 millions of dollars. Read More..

B2B Tech News | 3 years ago          

Transcript of the International Game Technology IGT Q2 2022 Earnings Call

International Game Technologys second quarter and firsthalf results confirm strong operating fundamentals across the portfolio. In addition to importa

International Game Technologys second quarter and firsthalf results confirm strong operating fundamentals across the portfolio. In addition to importantly improved global gaming profitability, strong global lottery margins were an important contributor to our overall consolidated results. The operating margin of 22% was at the high end of our expectations for the quarter, while the EBITDA margin of 40% remains among the highest in company history. IGT has leading positions in each market segment where we participate and about 80% of our total revenue is being utilised. The global lottery segment accounts for most of our profits in the range of 75% to 80%. It is important to highlight because the lottery is an attractive business with steadily growing and predictable revenue, profit, and cash flows backed by longterm contracts. Read More..

B2B Tech News | 3 years ago          

Nintendo Switch sales slumped due to chip shortage

Nintendo sold 3.43 million units of its Switch console in the quarter, down from from 4.45 million a year earlier.Sales of hybrid home/portable switch

Nintendo sold 3.43 million units of its Switch console in the quarter, down from from 4.45 million a year earlier.Sales of hybrid home/portable switches forecast second annual decline.Operating profit fell 15% to 101.6 billion yen $763 million, below analyst estimates.Nintendo sold 23% fewer Switch consoles in the AprilJune quarter than a year earlier following chip shortages, it said on Wednesday. The Kyotobased gaming company said it expected procurement to improve from late summer towards autumn Nintendo maintained its forecast to sell 21 million units in the year through endMarch 2023. Read More..

B2B Tech News | 3 years ago          

DCI announces data center plans in Canberra

A secure edge data center will be built in the Poplars Innovation Precinct in Jerrabomberra. DCI Data Centers is planning a 20MW data center and has s

A secure edge data center will be built in the Poplars Innovation Precinct in Jerrabomberra. DCI Data Centers is planning a 20MW data center and has secured an agreement from Essential Energy to bring a 132kV power supply so the new facility doesnt only depend on Canberras electricity supply. The company said the new facility codenamed CBR01 will have an initial capacity of 20MW, with eight data halls and dedicated secure offices and storage over the fourhectare site.DCI and Brookfield have signed a 20year power supply agreement for the Poplars data center in Sydneys eastern suburbs, which is being pitched to the defense, space, cyber security, and hightech manufacturing sectors. In response to security threats and tensions with China, the federal government is seeking greater reliability and sovereignty in facilities that host cloud workloads. Read More..

B2B Tech News | 3 years ago          

Shanta Gold reports on exploration progress in Kenya

The most recent drilling exploration phase at Shanta Gold Ltd.s West Kenya gold project is continuing to produce highgrade results, the company said o

The most recent drilling exploration phase at Shanta Gold Ltd.s West Kenya gold project is continuing to produce highgrade results, the company said on Wednesday. West Kenya Gold Project drilling at Shanta Gold continues to yield excellent results. The results, according to the mining company with an AIM listing, show how it is progressing with improving the current mineral resource and will be quantified at years end. The expansion of the resource base at targets like Kimingini and Ramula is a top priority. Read More..

B2B Tech News | 3 years ago          

More Russian oligarchs are the target of U.S. sanctions, and the Senate prepares to vote to admit Sweden and Finland to NATO

The United States slapped more sanctions on Russian oligarchs, as the U.S. The Senate is close to voting on the accession of Sweden and Finland to the

The United States slapped more sanctions on Russian oligarchs, as the U.S. The Senate is close to voting on the accession of Sweden and Finland to the NATO military alliance. Foreign Minister Anthony Blinken stated about fears of a nuclear accident in Ukraine. He said Russia is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that its firing on Ukrainians from around the plant. The shipment of grain exports from Ukraine in months departed Monday from the port of Odesa. Swedish and Finnish ministers met at the Nato headquarters in Brussels on January 24, 2022. Read More..

B2B Tech News | 3 years ago          

What does the chip law mean for chipmakers operating in the US?

The CHIP Act seeks to counter Chinas rise in advanced technology in the name of strengthening US competitiveness and protecting national security. Thi

The CHIP Act seeks to counter Chinas rise in advanced technology in the name of strengthening US competitiveness and protecting national security. This spending measure would provide $280 billion in science and technology funding, $52 billion of which would be used to boost U.S. semiconductor manufacturing. Chipmakers will not be able to produce highend chips larger than 28 nanometers in China for 10 years. The US Congress passed the Chips Act, which allows chipmakers to deduct 25% of the cost of a new factory or factories from the first years profits. The bill, which has yet to be signed into law, would give chipmakers an additional $24 billion in tax credits. Most of the federal subsidies are expected to go to Intel, TSMC and Samsung. In South Korea, they are all now building tens of billions of dollars worth of chip manufacturing facilities in the United States. Read More..

B2B Tech News | 3 years ago          

Macquarie Asset Management acquires stake in ST Telemedias VIRTUS data centre

ST Telemedia Global Data Centres has reached an agreement for Macquarie Asset Management to acquire a significant minority stake in VIRTUS. VIRTUS pro

ST Telemedia Global Data Centres has reached an agreement for Macquarie Asset Management to acquire a significant minority stake in VIRTUS. VIRTUS provides colocation and cloud connectivity services to highvalue customers, including global technology companies. The portfolio includes 11 data centers in Greater London with a capacity of over 180 MW. ST Telemedia Global Data Centres, the UKs leading hyperscale data centre provider, has been partnered with investment firm Macquarie Asset Management. The partnership will see VIRTUS expand its services to customers across Europe and the United States. As the worlds largest infrastructure manager, it manages investments in AirTrunk, a leading AsiaPacific data centre developer and operator.Macquarie Asset Management also supports the expansion of Aligned Data Centers and Data Center Neutrality, the leading data center providers in the US. Read More..

B2B Tech News | 3 years ago          



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