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IMF Warns Middle East Economies Falling Short of Growth Projections

The IsraelGaza war and a reduction in oil output were the main reasons the Middle East economy was not growing at the rate predicted by the Internatio

The IsraelGaza war and a reduction in oil output were the main reasons the Middle East economy was not growing at the rate predicted by the International Monetary Fund IMF on Sunday. Speaking at the Arab Fiscal Forum in Dubai, IMF Managing Director Kristalina Georgieva emphasised how resilient the world economy is despite uncertainty. She did, however, issue a warning about possible broader effects on the local economy due to the ongoing violence in Gaza. The Middle East and North Africa regions GDP growth was downgraded by the IMF to 2.9% this year, with partial blame placed on the fighting in Gaza and the reduction in oil output. Georgieva also underlined the difficulties nations face in economic recovery from past shocks. Read More..

B2B Tech News | 2 years ago          

Man Industries India Ltd. Bags Orders Worth ₹525 Crore, Boosts Unexecuted Order Book to ₹1,600 Crore

Without revealing the names of the companies involved, Man Industries declared on February 12 that it had received fresh orders totalling ₹525 crore

Without revealing the names of the companies involved, Man Industries declared on February 12 that it had received fresh orders totalling ₹525 crores for the delivery of different pipes. The contracts, which might come from local or foreign companies, should be finished in six to seven months, increasing the companys backlog of unfulfilled orders to almost ₹1,600 crore. This confirms trust in the businesss technological prowess and operational effectiveness. In addition, Kandla Customs awarded Man Industries a certificate of recognition for being the top exporter in FY24. In line with potential in the hydrogen industry, it received an order for 400 crore last month and started manufacturing pipes for hydrogen transportation. The managing director, Nikhil Mansukhani, highlighted the companys ability to produce up to 5 lakh tonnes yearly with no capital outlay. The inventory rose nearly 5% in morning trade on the news. Read More..

B2B Tech News | 2 years ago          

ANZ Group Achieves Robust Performance in First Quarter, Shares Hit 22Month Peak

Due to strong results in its institutional divisions markets business, Australias ANZ Group said that its firstquarter group revenue was in line with

Due to strong results in its institutional divisions markets business, Australias ANZ Group said that its firstquarter group revenue was in line with the quarterly average of the first half of fiscal 2023. As a result, shares surged to A$27.93, the highest level in 22 months. Strong demand for institutional banking services, which produced a record yearly profit the year before, was blamed for the spike. The ANZ Group emphasised the rise in lending driven by client deposits in Australian retail and consumer franchises, even in the face of a slight decline in the overall benchmark index. The bank added A$8 billion in consumer deposits across its retail and commercial businesses in Australia, but institutional deposits declined. At the end of December 2023, the standard equity tier 1 ratio, however, marginally declined to 13.1%. Read More..

B2B Tech News | 2 years ago          

Dexiga Startup Faces Backlash After Exposing My WinStar App User Data

The company that created the My WinStar app, Dexiga, unintentionally made public a database containing its users personal data, including their home a

The company that created the My WinStar app, Dexiga, unintentionally made public a database containing its users personal data, including their home addresses, phone numbers, email addresses, and complete names. The unencrypted database was found by security researcher Anurag Sen, who provided TechCrunch with details. After being informed, Dexiga protected the database, but they played down the event, saying the information was freely accessible. TechCrunch signed up and confirmed the phone number showed in the accessible data, so validating the databases relationship to the My WinStar app. Dexiga said that a log migration caused the exposure. Still, it didnt say when it happened, or if anybody else could access the information. Since WinStars general manager did not reply to questions, how the company handled the situation is still being determined. Read More..

B2B Tech News | 2 years ago          

DECIX Internet Exchanges Witness Record Surge in Data Traffic, Reaching 59 Exabytes in 2023

Data traffic at DECIX Internet Exchanges surged to 59 exabytes in 2023—a significant rise of 23 per cent over the previous year. CEO Ivo Ivanov emph

Data traffic at DECIX Internet Exchanges surged to 59 exabytes in 2023—a significant rise of 23 per cent over the previous year. CEO Ivo Ivanov emphasised the importance of DECIX in our digital life and the range of applications it has made possible for the internet. DECIX Indias Chief Business Officer, Sudhir Kunder, reaffirmed the companys dedication to offering dependable and quick connections. With DECIX Frankfurt reaching a record peak, the peak data throughput of 22.36 terabits per second on November 8, 2023, demonstrated a consistent increase. The increased usage of internetbased apps is the reason for the spike in data traffic, indicating the importance of DECIX in international data exchange. Read More..

B2B Tech News | 2 years ago          

Tower Semiconductor Eyes $8 Billion Chip Manufacturing Facility in India

According to the Indian Express, Israelbased Tower Semiconductor would build a $8 billion chip manufacturing plant in India. The plan seeks to build 4

According to the Indian Express, Israelbased Tower Semiconductor would build a $8 billion chip manufacturing plant in India. The plan seeks to build 40 and 65nanometer chips in India if government incentives are obtained. Chip production is consistent with Prime Minister Modis economic goals, albeit Tower Semiconductor and the Indian IT ministry have not yet commented on the issue. Nevertheless, prior attempts to provide the sector $10 billion in incentives were met with obstacles, resulting in the postponement or cancellation of some projects. Read More..

B2B Tech News | 2 years ago          

Tata Communications and Microsoft Collaborate to Enhance Enterprise Connectivity with Teams Integration

Through a partnership with Microsoft, Tata Communications can provide Indian businesses with improved connection and communication through Microsoft T

Through a partnership with Microsoft, Tata Communications can provide Indian businesses with improved connection and communication through Microsoft Teams. Using Microsofts Operator Connect and Tata Communications GlobalRapide technology, users may easily place and receive PSTN phone calls on Teams devices worldwide. Tata Communications guarantees regulatory compliance with relationships with over 700 mobile network providers and significant coverage across more than 190 countries. By providing endtoend managed services, deployment, onboarding, and improved security features, the GlobalRapide platform streamlines the management of the Teams platform. The VP of Unified Communications & Collaboration at Tata Communications, Sriram Sampath, highlights how the alliance may increase worker productivity while upholding regulatory compliance. According to Microsofts Country Head, Shruti Bhatia, the partnership aims to increase productivity and efficiency for Indian companies. Read More..

B2B Tech News | 2 years ago          

Crackdown on Cybercrime U.S. Authorities Seize Websites Linked to Malware Sales

The "Warzone RAT" virus, which may steal data, was found on websites made available for purchase by American authorities. Suspects were also apprehend

The "Warzone RAT" virus, which may steal data, was found on websites made available for purchase by American authorities. Suspects were also apprehended in Malta and Nigeria. Classified as a remote access trojan, the infection allowed hackers to access computers worldwide. It allowed them to browse the file system, record keystrokes, and spy on users webcams. Maltese citizen Daniel Meli has been charged with distributing malware since 2012. On the other hand, Nigerian citizen Prince Onyeoziri Odinakachi is charged with providing Warzone RAT assistance from 2019 to 2023. The United States is seeking Melis extradition, while Odinakachi is charged with conspiring to conduct computer intrusion offences. The solicitors for both parties defences have yet to be named. Read More..

B2B Tech News | 2 years ago          



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