Eu Financial News

Apple Inc and Microsoft have argued that some of their services were not popular enough to be designated as «gatekeepers» under the EU's new Digital Markets Act, designed to curb the powers of Big Tech, the Financial Times reported on Monday. Apple is battling over its iMessage chat app, while Microsoft is battling over its search engine Bing, ahead of Wednesday's publication of the first list of services to be regulated under the act, the report said.

G20 Summit, scheduled to commence in India's capital, New Delhi, on September 9. This marks the first occasion that India plays host to this formidable assembly of global leaders.

G20 Summit, External Affairs Minister S Jaishankar on Monday said the focus should be on the position taken by countries on key burning issues than on the levels of representations at the conclave. «At the end of the day, countries are represented by whoever they have chosen to represent them.

Nigeria's President Bola Tinubu left for India on Monday to attend this year's G20 summit, as his country considers joining the bloc of major world economies, presidential spokesperson Ajuri Ngelale said. Indian Prime Minister Narendra Modi extended a special invitation to Tinubu, as Nigeria's membership is under consideration. «While Nigeria's membership of the G-20 is desirable, the government has embarked on wide-ranging consultations with a view to ascertaining the benefits and risks of membership,» Ngelale said in a statement. The G20 brings together 19 countries and the European Union, with India currently holding its presidency, which rotates annually among the members.

By Victoria Waldersee

NEW DELHI (Reuters) — Leaders of the world's richest and most powerful countries will attend the two-day G20 Summit in India's capital New Delhi starting September 9.

The UK government is investing £100 million in an effort to strengthen its foothold in the global AI chip market. This initiative is geared towards creating a robust AI infrastructure in the UK, akin to developments in the US and other nations. The allocated funds will be channeled towards purchasing essential components from top chip manufacturers, including Nvidia, AMD, and Intel.

By Giuseppe Fonte and Giancarlo Navach

G20 Summit 2023. For the first time in history, India has become the host the the Group of 20 Nations (popularly known as G20).

G20 Summit, Northern Railways has decided to cancel and divert over 200 passenger trains temporarily from September 8 to 11 here, a notification stated on Saturday. According to the schedule, over 90 trains have been cancelled on September 9. More than 100 passenger trains will be cancelled on September 10 as well.

RBI) Governor Shaktikanta Das has been rated ‘A+’ in the Global Finance Central Banker Report Cards 2023, the central bank said on Friday. Taking to X (former Twitter), RBI said," We are happy to announce that Governor Shaktikanta Das has been rated “A " in the Global Finance Central Banker Report Cards 2023.

By Corina Pons and Helen Reid

(Reuters) -Meta Platforms is considering paid versions of Facebook (NASDAQ:META) and Instagram with no advertisements for users residing in the European Union (EU) as a response to scrutiny from regulators, the New York Times reported on Friday.

Meta is considering paid versions of Facebook and Instagram that would have no advertising for users in the European Union, three people with knowledge of the company’s plans said, a response to regulatory scrutiny and a sign that how people experience technology in the United States and Europe may diverge because of government policy. Those who pay for Facebook and Instagram subscriptions would not see ads in the apps, said the people, who spoke on the condition of anonymity because the plans are confidential. That may help Meta fend off privacy concerns and other scrutiny from EU regulators by giving users an alternative to the company’s ad-based services, which rely on analyzing people’s data, the people said.

Reserve Bank of India Governor Shaktikanta Das has been ranked as the top central banker globally by US-based Global Finance magazine.

France's data watchdog, CNIL, made an unannounced visit to the office of Worldcoin in Paris this week, intensifying the scrutiny surrounding the cryptocurrency project's controversial privacy practices.

Gokaldas Exports with a target price of Rs 865. The current market price of Gokaldas Exports is Rs 773.6. Gokaldas Exports, incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 4687.59 Crore) operating in Apparels sector. Gokaldas Exports key Products/Revenue Segments include Textile Apparels, Export Incentives, Scrap, Job Work for the year ending 31-Mar-2021.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 522.23 Crore, down -1.49 % from last quarter Total Income of Rs 530.12 Crore and down -14.76 % from last year same quarter Total Income of Rs 612.69 Crore.

Poland’s working-age population will decline by nearly a third by 2060 unless the country opens its borders to more migrants from beyond eastern Europe, according to a study by the state statistics office. The projection reflects a dwindling birth rate and highlights political battles over opening the European Union’s sixth-largest economy to more migration. Such a drop would pile more pressure on Poland’s labor-hungry $688 billion economy and strain public finances as the number of retirees surges. In a little less than four decades, Poland’s working-age residents could shrink by 7.1 million from 22.2 million now, according to the study. At the same time, aging populations in neighboring Ukraine and Belarus will reduce the number of workers potentially coming into Poland. “In order to achieve higher levels of immigration, which would make it possible to at least partially compensate for the losses in the labor market, greater diversification of the countries of origin of immigrants will be necessary,” the report said. “This would mean the appearance of more people from culturally different Asian or African countries.”

Microsoft will stop packaging its Teams videoconferencing app with its Office software in Europe in an effort to head off antitrust penalties by regulators

IBM has some ideas about what it will take to make the digital euro a success, which it shared in a recent blog post. It suggested five items for designers to help the European Central Bank (ECB) digital currency “enter the highly competitive, multifaceted, and heterogeneous payments landscape in the Eurozone.”

By Foo Yun Chee