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Israeli emergency tech platform Carbyne has raised $100 million in a funding round led by AT&T, bringing its total funding to approximately $136 million. The company, which provides cloud-based solutions for emergency call centers, aims to modernize emergency communications infrastructure amid funding challenges, as 80% of 911 calls now come from mobile devices. Carbyne's technology offers a cost-effective solution for public safety answering points struggling to upgrade from legacy systems, reflecting a growing investor confidence in addressing these critical needs.
DP World Trade Finance and J.P. Morgan have partnered to address a $2.5 trillion global trade finance gap, enhancing access to working capital in emerging markets. Their first collaboration funded cocoa procurement in the Ivory Coast, boosting local liquidity by over $70 million. This initiative reflects a growing trend in trade finance innovation, with integrated logistics-finance models aimed at supporting SMEs traditionally overlooked by lenders.
China's exports to the U.S. fell by 34.5% in May, marking the largest decline since February 2020, while imports from the U.S. dropped over 18%, leading to a 41.55% reduction in China's trade surplus with the U.S. to $18 billion. In contrast, exports to Southeast Asia rose nearly 15%, with the EU and Africa seeing increases of 12% and over 33%, respectively. Overall, China's exports grew by 4.8% in May, despite missing expectations, while its total trade surplus increased by 25% year-on-year to $103.2 billion.
Limited, a US-based fintech startup founded by Egyptian entrepreneur Hussein Ahmed, has raised $7 million in seed funding to expand its stablecoin-based global banking services. The platform, which integrates self-custody security with traditional banking functionality, is accessible in 176 countries and supports over 300 local payment methods. This funding will enhance growth in high-opportunity markets across Latin America, Southeast Asia, and the Middle East, addressing the demand for secure, borderless financial services.
The Morning Midas car carrier, transporting about 3,000 vehicles from various Chinese automakers, caught fire off the coast of Alaska. Among the cargo were 800 electric vehicles, but Great Wall Motor's 140 vehicles were not EVs and were not on the deck where the fire occurred. All 22 crew members evacuated safely after attempts to extinguish the blaze failed.
A car carrier named Morning Midas, sailing from China with approximately 3,000 vehicles, including 800 electric vehicles (EVs), caught fire in the Pacific Ocean off Alaska. The 22 crew members evacuated safely after attempts to extinguish the blaze failed. The incident underscores the heightened risks associated with transporting lithium-ion battery-powered vehicles, which can be particularly challenging to manage in case of fire.
The OECD has downgraded its economic growth forecasts, projecting a 1.6% growth for the US in 2025, down from 2.2%, primarily due to the impact of tariffs and trade policies. Global growth is expected to slow to 2.9%, with significant repercussions for the US, Canada, Mexico, and China. The uncertainty surrounding tariffs is anticipated to reduce business investment and consumer purchasing power, disproportionately affecting lower-income households.
IBM is set to open a new center in Lucknow by September, highlighting India's status as one of its five key growth markets alongside Saudi Arabia, Indonesia, Mexico, and the UAE. The company has more than doubled its business in India over the past four years and is expanding into tier-2 and tier-3 cities like Gandhinagar and Kochi.
[Bloomberg]
TikTok is enhancing its local services in Indonesia through TikTok Go, an affiliate program that allows creators to promote discounts at partner merchants. Users can redeem offers by visiting outlets and presenting a QR code, but the model raises questions about sustainability for creators and merchants alike.In the automotive sector, BYD's Denza D9 has surpassed Toyota's Alphard in sales, with over 3,000 units sold since its launch, benefiting from lower costs and government tax breaks for electric vehicles. This shift signals potential challenges for Toyota, which relies on brand loyalty in the competitive Indonesian market.
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Carbyne secures 100 million funding to modernize emergency response technology
10:40 09.06.2025
dp world and j p morgan tackle trade finance gap with new partnership
10:02 09.06.2025
China's exports to US plummet 34.5 percent amid shifting trade dynamics
09:00 09.06.2025
Egyptian fintech startup raises 7 million for global stablecoin banking expansion
09:48 06.06.2025
car carrier fire off alaska involves thousands of vehicles including electric cars
12:15 05.06.2025
car carrier carrying electric vehicles abandoned after fire in pacific ocean
05:27 05.06.2025
OECD revises global growth forecasts amid rising US trade tariffs
07:20 04.06.2025
IBM expands operations in India with new center in Lucknow
07:31 03.06.2025
AWS expands global data centers and enhances access to Nvidia AI chips
04:20 31.05.2025
tiktok launches affiliate program to boost local services and creator income
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