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Ethiopia Officially Defaults on $33 Million Bond Payment Amid Financial Crisis

Ethiopia became the third country in Africa to default in three years when it could not pay the $33 million "coupon" payment on its only international

Ethiopia became the third country in Africa to default in three years when it could not pay the $33 million "coupon" payment on its only international government bond. The COVID19 epidemic and Ethiopias justended twoyear civil war have made the countrys dire financial problems more apparent, as seen by the default. Ethiopia had said earlier that it would formally default. Ethiopia is now grouped with Zambia and Ghana, three other countries reorganising under the "Common Framework." Early in 2021, Ethiopia applied for debt relief under the G20led programme. In November 2022, its official sector government creditors reached a settlement to suspend debt service. Read More..

B2B Tech News | 2 years ago          

Singapore Plans Second Phase of GST Hike, Increasing Rate to 9%

Singapores goods and services tax GST is about to go into effect in its second phase, rising by 1% to 9%. The first phase increased the GST from 7% to

Singapores goods and services tax GST is about to go into effect in its second phase, rising by 1% to 9%. The first phase increased the GST from 7% to 8% earlier in the year. Given that living expenses are already rising, opposition MPs have demanded a postponement. The administration contends that the tax increase is required to support state coffers because of the problems brought on by an ageing population and soaring health care expenses. The Central Bank of Singapore projects an average inflation rate of 2.5–3.5% for 2024. Read More..

B2B Tech News | 2 years ago          

Apple Pressured by Indian Government to Downplay StateSponsored Attack Warnings

According to reports, Apple was under pressure from the Indian government to downplay their alerts on statesponsored assaults directed at opposition p

According to reports, Apple was under pressure from the Indian government to downplay their alerts on statesponsored assaults directed at opposition politicians and Indian media. Apple warned Indian customers in October that there was a possibility that statesponsored attackers had targeted their iPhones. The Indian government asked in private that Apple offer other answers openly questioned Apples conclusions, and opened an investigation into device security. Although the pressure campaign unsettled Apple officials in California, the company did not provide a statement to appease Indian authorities following a meeting between an Apple security specialist and ministry representatives. Read More..

B2B Tech News | 2 years ago          

New York Times Files Lawsuit Against OpenAI and Microsoft Over Alleged Copyright Violation

Microsoft and OpenAI have been sued by The New York Times, alleging that they trained chatbots using millions of newspaper stories without the publish

Microsoft and OpenAI have been sued by The New York Times, alleging that they trained chatbots using millions of newspaper stories without the publishers consent. According to the lawsuit, Microsoft and OpenAI attempted to "free ride" off the Timess journalism investment. The Times contends that it is not a "transformative" usage and that it is illegal to utilise its information for free to make products that compete with newspapers and draw readers away from them. The Times wants the businesses to delete chatbot models and training sets that integrate its content it is not asking for a particular sum of damages instead, it estimates damages in the "billions of dollars". Read More..

B2B Tech News | 2 years ago          

Yakult Australia Hit by Cyber Incident, 95 GB of Data Leaked by DragonForce

Data leaks by DragonForce have caused a cyber problem at Yakult Australia, the maker of a probiotic milk drink. A corporate database, contracts, passp

Data leaks by DragonForce have caused a cyber problem at Yakult Australia, the maker of a probiotic milk drink. A corporate database, contracts, passports, and other data are purportedly among the 95.19 GB of disclosed data. Yakult Australia acknowledged the cyberattack and said it is collaborating with specialists in cybersecurity to investigate the matter. Yakult continues to operate in Australia and New Zealand, even though the magnitude of the occurrence is still unknown. Although DragonForce is not currently connected to the hacktivist collective DragonForce Malaysia, it is wellknown for naming victims on its leak site following an extortion attempt. Read More..

B2B Tech News | 2 years ago          

Data Breach Alert Corewell Health Patients in Southeast Michigan at Risk Again

A population health management platform called HealthEC, which provides services to Corewell Health, may have been involved in a data breach that expo

A population health management platform called HealthEC, which provides services to Corewell Health, may have been involved in a data breach that exposed the medical records of Corewell Health patients in Southeast Michigan. Names, residences, dates of birth, Social Security numbers, medical record numbers, diagnoses, diagnostic codes, physical and mental health issues, provider names, billing and claim information, and more are among the details that have been made public. This is the second breach that Corewell Health patients have experienced recently the first occurred in November and included Welltok, a software provider that helps Corewell Health with communication. A year of identity protection and credit monitoring is being provided to impacted patients by HealthEC. Read More..

B2B Tech News | 2 years ago          

Argentinas Central Bank Eyes AR$ 20,000 and 50,000 Banknotes to Combat Inflation

The Central Bank of Argentina BCRA is thinking of producing banknotes worth AR$ 20,000 and 50,000 to stay up with inflation and lessen the necessity f

The Central Bank of Argentina BCRA is thinking of producing banknotes worth AR$ 20,000 and 50,000 to stay up with inflation and lessen the necessity for large amounts of cash in regular transactions. Since AR$ 2,000 is now the most significant denomination in circulation, most individuals must rely on AR$ 1,000 notes for everyday spending. It has been claimed that among financial circles, the president of BCRA has explored the prospect of printing notes with more prominent denominations. The new banknotes are anticipated to go into circulation in March 2024. The Central Bank is debating whether or not to produce the new notes overseas, although this decision still needs to be made. Read More..

B2B Tech News | 2 years ago          

Argos Distributors Ireland Faces €43.4 Million Cost After Closing Republic of Ireland Stores

The Irish division of catalogue retailer Argos, Argos Distributors Ireland Ltd., lost 580 jobs and had to pay €43.4 million $47.6 million in costs d

The Irish division of catalogue retailer Argos, Argos Distributors Ireland Ltd., lost 580 jobs and had to pay €43.4 million $47.6 million in costs due to shutting its shop network in the Republic of Ireland. The most notable element of the data, which was disclosed in the companys new accounts, was the €23.2 million in redundancy expenses. After determining that the investment required to turn a profit was unfeasible, the firm closed in June. According to the updated financial statements, in the year ending March 2023, the closure was also a factor in a pretax loss of €24.1 million. The revenue decline was likewise €12.8m, or 9.5%. Read More..

B2B Tech News | 2 years ago          



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