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Foreign Investment Holds Strong Israeli HighTech Raises $1.5 Billion in Q4 2023

Despite a 15% decline from Q3, Israeli hightech companies raised $1.5 billion in Q4 2023, indicating that international investment was still coming in

Despite a 15% decline from Q3, Israeli hightech companies raised $1.5 billion in Q4 2023, indicating that international investment was still coming in despite the IsraelHamas conflict. A total of 75 agreements totalling $220 million in "seed" finance were disclosed by LeumiTech and the Israel Venture Capital Research Centre. The rise in foreign involvement in Q4 demonstrated the availability of investment funding. Israels economy depends heavily on this industry, which accounts for over half of exports and 12% of jobs. Israeli entrepreneurs raised $7 billion in 2023 instead of $16 billion in 2022, primarily due to investor fears regarding judicial system reforms and the global economic downturn. A hopeful perspective is supported by overseas investors finding Israeli hightech enterprises appealing despite hurdles. Read More..

B2B Tech News | 2 years ago          

Huawei Forecasts Robust Growth Expects Revenue to Surpass $98.5 Billion, Up 9% YoY in 2023

In an internal New Year letter, rotating chairman Ken Hu disclosed that Huawei expects to report sales above 700 billion yuan $98.5 billion for 2023,

In an internal New Year letter, rotating chairman Ken Hu disclosed that Huawei expects to report sales above 700 billion yuan $98.5 billion for 2023, representing a 9% YoY rise from the 642.3 billion yuan in 2022. The prediction denotes Huaweis comeback from US sanctions that hindered its ability to get essential international technology. Hu said the firm is "pretty much back on track" after overcoming obstacles, and he commended our partners and the Huawei team for their tenacity. Huaweis comeback to the highend smartphone market is anticipated with the release of the Mate60 series. Huawei acknowledges the unpredictability of the geopolitical and economic landscape, but in 2024, it intends to concentrate on business efficiency measures. Read More..

B2B Tech News | 2 years ago          

Ernie Bot, Baidus AI Chatbot, Hits 100 million Users Mark Following Public Launch

Like ChatGPT, Baidus Ernie Bot has over 100 million users, according to Wang Haifeng, the companys CTO. After a testing phase and public debut in Augu

Like ChatGPT, Baidus Ernie Bot has over 100 million users, according to Wang Haifeng, the companys CTO. After a testing phase and public debut in August, Ernie Bot made the news during a conference in Beijing. Analysts highlight Baidus favourable early entry into a competitive industry of AIpowered chatbots despite an initially lackluster partial debut. The worlds fastestgrowing software programme since late 2022, OpenAIs ChatGPT, is credited with sparking the recent interest in this technology. The CEO of Baidu, Robin Li, sees Ernie Bot helping to increase market share in favoured industries, including cloud services, intelligent automobiles, and search engines. Even though Ernie Bot is one of the best Chinese chatbots, its rating on SuperCLUE is more than ten points lower than ChatGPTs most recent iteration. Read More..

B2B Tech News | 2 years ago          

Elon Musks X Faces Setback as U.S. Judge Rejects Attempt to Block Content Moderation Law

The effort by Elon Musks social network firm X to overturn a California law requiring openness on content filtering was denied by a U.S. judge. Former

The effort by Elon Musks social network firm X to overturn a California law requiring openness on content filtering was denied by a U.S. judge. Former Twitter user X claimed the law violated its right to free expression. The law mandates that big social media companies publish reports on content moderation every two years, including information on offensive posts and the steps taken to remove them. Judge William Shubb rejected Xs arguments, concluding that the reporting requirement was appropriate. X, which has been under fire for its content filtering, suffered a sharp drop in U.S. ad income under Musk. Read More..

B2B Tech News | 2 years ago          

Mukesh Ambani Unveils Vision for Reliance Industries to Pioneer AI in Key Sectors

Mukesh Ambani, the chairman of Reliance Industries, outlined his goal for the company to be a leader in artificial intelligence AI solutions that solv

Mukesh Ambani, the chairman of Reliance Industries, outlined his goal for the company to be a leader in artificial intelligence AI solutions that solve Indias pressing needs in employment, healthcare, education, and agriculture. Ambani underlined how crucial it is to be at the forefront of utilising AI and data to create a notable increase in efficiency and production. Reliance has been evolving into a technology business, venturing into digital services, retail, telecom, and new energy. Reliance and Nvidia inked a partnership agreement in September to work together on generative apps, language models, and cloud infrastructure. Ambani encouraged staff members to spearhead AIled change in important emerging industries. Read More..

B2B Tech News | 2 years ago          

Eagers Automotive Faces Cyber Incident Impacting IT Systems and Vehicle Transactions

A cyber issue that affected the confidence of Eagers Automotives IT systems was reported by the Australian company APE.AX. The problem affected the co

A cyber issue that affected the confidence of Eagers Automotives IT systems was reported by the Australian company APE.AX. The problem affected the completion of transactions for some newly sold and delivered automobiles. The operational effect in Australia and New Zealand differs depending on the business divisions and areas. Even though the postponement in recognition of these transactions would have a significant financial impact for the fiscal year 2023, Eagers is nevertheless optimistic about achieving a record underlying operating profit before taxes. The cyber intrusion is indicative of the continuous cybersecurity difficulties Australian firms confront. Read More..

B2B Tech News | 2 years ago          

Maldives Inland Revenue Authority Records 10.5% Revenue Growth in November 2023

The Maldives Inland Income Authority MIRA said their total income for November 2023 was MVR 1.67 billion, representing a 10.5% rise over the same mont

The Maldives Inland Income Authority MIRA said their total income for November 2023 was MVR 1.67 billion, representing a 10.5% rise over the same month in 2022. The increase in growth is ascribed to increased tax revenue from sources including the TGST and GGST, as well as the rate rises on each in 2023. The favourable result was further influenced by the 3.5% rise in tourist arrivals in October 2023, the expatriate quota charge, and the Tourism Land Rent dues collection. GST 67.16%, Income Tax 6.60%, Green Tax 5.10%, Airport Development Fee 4.50%, and Departure Tax 4.34% are the primary sources of revenue. The entire amount collected is 9.3% more than expected. Read More..

B2B Tech News | 2 years ago          

Morocco Launches Social Reforms Nearly a Million Disadvantaged Families to Receive Monthly Assistance

Morocco has announced that, as part of a social reform launched by King Mohammed VI in 2020, almost a million impoverished households would get direct

Morocco has announced that, as part of a social reform launched by King Mohammed VI in 2020, almost a million impoverished households would get direct monthly aid for the first time. Beneficiaries of the targeted family allowances, irrespective of the makeup of their families, will receive at least 500 dirhams just over $51 monthly. The programme is a component of a larger project that also includes providing free medical care to over 10 million underprivileged individuals and extending social security coverage to all Moroccans. The nation faces social inequality and economic difficulties while social reforms are being implemented. Read More..

B2B Tech News | 2 years ago          



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