World Bank Cuts 2023 Global Growth Estimates
The World Bank’s latest “Global Economic Prospects” report predicts 2023 global growth to slow to 1.7% from the 3% expected six months ago
Nina Bobro
European Stocks Outperform US Peers
Typically lagging behind on the global market scene, European stocks have shown tremendous gains in the past couple of months, more than double the growth of their US counterparts
Microsoft Considers $10B Investment into OpenAI
If Microsoft investment takes place, OpenAI – the startup behind the ChatGPT chatbot – will be valued at $29 billion
Research: eSIM Market to Reach $4 Billion Globally in 2023
As Apple innovation disrupts the smartphone industry, eSIM market is poised to be valued at $4.7 billion in 2023, rising to $16.3 billion by 2027
Wyre Introduces Withdrawal Limits
San Francisco-based crypto payments firm Wyre is implementing 90% withdrawal limits for user accounts, “acting in the best interest of our community”
FlexxPay Partners ADCB to Offer Payroll Services in UAE
This new alliance gives UAE companies an opportunity to provide their unbanked employees with complete digital bank accounts using the FlexxPay app with access to ADCB payroll services
US Banks to Report Profit Decline, Prepare for Recession
Major US banks are expected to show a net profit decline in their quarterly earnings reports to be released on Friday, while the industry is getting ready for an economic slowdown
UK Fintech Funding Slashed by 8%
Fintech funding in the UK remained ahead of the levels seen in Europe and Asia amid a sharp global slowdown, but still decreased about 8% compared to its 2021 value
CES 2023 Showcases Touch and Smell Tech for Metaverse
Metaverse needs more customised and real-life-like user experiences such as the integration of the senses of smell and touch into VR experiences, as demonstrated at CES 2023
DeFi Projects were Main Attack Target in 2022, Expect More Hacks This Year
Reports show DeFi projects faced 113 hacking attacks in 2022, with a total of $950 million in losses
Santander Partners Allianz Trade & Two for B2B BNPL Solution
The partnership combines Allianz Trade’s global corporate database with Two’s B2B BNPL technology, while Santander provides expertise in Working Capital Solutions
Huobi Lays Off 20% of Employees, Denies Insolvency
The crypto exchange Huobi has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring, following Justin Sun’s acquisition of the firm, but denied rumours of its insolvency
Getnet Launches Sustainable Payment Machine out of Electronic Waste
The new sustainable payment machine from Getnet is the first of its kind on the card-acquiring market. It is made from recycled parts of electrical equipment waste
Americans Spent a Record $212B on Online Holiday Shopping
Online shopping considerably increased this holiday season despite economic downturn, as record-setting discounts helped offset the negative impact of high inflation
ChatGPT Helps Students Cheating, OpenAI Works on Mitigation
US Educators are blocking the use of ChatGPT on its premises, while the company behind it develops a solution to help spot the AI-generated texts
Santander Launches Commercial Card Solution with Global Payments
Santander Bank partnered with Global Payments Inc. on a new commercial card offering for its Commercial Banking clients in the US
Breaking News
