Country Financial News

Digital connectivity in India is set to get a major boost, with three large undersea cable projects — 2Africa Pearls, IndiaAsia-Express (IAX) and India-Europe-Express (IEX) — slated to go onstream between October and next March, expanding existing capacity by more than four times, said people familiar with the matter. 2Africa, among the longest subsea cable systems in the world, spanning over 45,000 km, has investments from Bharti Airtel and Meta, among others. It will have a capacity of 180 terabits per second (tbps), connecting 33 countries, including Sunil Mittal-led Airtel’s landing station in Mumbai. IAX and IEX involve contributions from Reliance Jio, among others. Boost for Data Centre Operators:

foreign banks that operate in the country have approached the Reserve Bank of India (RBI) seeking prospective application of the guidelines on mandatory local storage of payments data from January 2025 with regard to information that’s already kept overseas. They have also sought a reprieve from any regulatory action until then. These guidelines, issued in 2018, mandate that all payment system data related to customers in the country must be stored solely in India. “Some foreign lenders have pressed for a prospective compliance date starting January 2025 to ensure all lenders can meet the regulations,” a senior foreign bank executive said, confirming a meeting with RBI officials on the data localisation issue.

okada, and boda boda. They are transforming mobility in Africa. Behind the rise is a story of supply and demand.

RAWALPINDI: Bangladesh is pinning its hopes on all-rounder and former lawmaker Shakib Al Hasan to «do something special» against pace-heavy Pakistan in the opening test of the two-match series, starting Wednesday. "(Shakib) played this game for so long, so he knows his role," Bangladesh captain Najmul Hossain Shanto said on the eve of the first test match at Rawalpindi Cricket Stadium. «He knows how to prepare himself, so I am not thinking about his political career and I hope he will do something special in this series. He's a professional cricketer and we all treat him as a cricketer, to be very honest.»

Azerbaijan has formally applied to join the BRICS group of developing economies, a day after Russian leader Vladimir Putin’s visit to the oil-rich South Caucasus country to shore up regional ties and secure Moscow’s under-pressure trade routes

Former JPMorgan Chase chief economist Anthony Chan reacts to Kamala Harris saying it will be her 'Day One priority' to bring down prices despite already being in office on 'Varney & Co.'

Kenya’s new finance minister says some of the proposed taxes that led to weeks of deadly protests earlier this year will be reintroduced through a tax amendment bill as the country struggles to find revenue to pay off debts

The Malawian government has received an insurance payout of $11.2 million for an El Nino-linked drought that led to a disaster declaration in the southern African nation

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...

Poland's prime minister has reacted to reports that revived speculation about who blew up the Nord Stream pipelines in 2022

One of Libya’s dueling authorities unilaterally fired the powerful central bank governor in an abrupt move that is likely to inflame tensions in the divided North African country

Social media company X says it will close its operations in Brazil, claiming Brazilian Supreme Court Justice Alexandre de Moraes threatened to arrest their legal representative in Brazil if they did not comply with orders

Experts meet in Bangkok this week to advance what would be the first international treaty to tackle the surging problem of plastic pollution

comprehensive strategic partnership following talks between PM Narendra Modi and his Malaysian counterpart Anwar Ibrahim here. The two sides inked a number of pacts, including one on employment and repatriation of workers and another on boosting cooperation in digital technologies. The bigger focus of the talks was to expand trade and investment and explore cooperation in new and emerging areas.

The Canada Border Services Agency (CBSA) said Tuesday a “partial systems outage” was impacting customs services at airports across the country.

CCI) has asked Reliance Industries and Walt Disney as to why their proposed $8.5-billion merger of media assets in the country should not be probed over antitrust concerns, people aware of the development said. This could potentially delay regulatory clearance for the deal that is set to create India’s largest entertainment player, but such notices don’t mean the deal would be automatically derailed, they said. If anything, such notices give the parties a chance to address the antitrust regulator’s concerns through adequate explanations, further commitments or actions, a regulatory official told ET.

Predictions for the Bitnance (BTN) token presale have been released. Now being sold for $0.35 in its official ICO [initial coin offering], the crypto exchange listing day price is set to be $0.465. A +30% short term gain, the healthy amount is miniscule compared to a long-term prediction just released via a simple analysis, causing discussion on reddit.

Pernod Ricard India, which plans to triple its revenue over the next decade by prioritising premiumisation, on Tuesday launched two premium whiskies. It has unveiled two whiskies — Royal Stag Double Dark Peaty Whisky and Blenders Pride Four Elements Premium Whisky — as part of this strategic initiative, said a statement from the Indian subsidiary of the French Spirits maker Pernod Ricard. Earlier, it launched Longitude 77, which was the first Indian Single Malt by Pernod Ricard. The company «has unveiled an ambitious plan to triple its revenue over the next decade by prioritising premiumisation and innovation in the Indian market,» said a statement from Pernod Ricard India.

Shiv Sena (UBT) chief Uddhav Thackeray on Tuesday said that despite being bitter rivals in the past, the undivided Shiv Sena and Congress were never vindictive towards each other. Speaking at a 'Sadbhavana Diwas' event here to mark the birth anniversary of the late Rajiv Gandhi, Thackeray also noted that Central agencies never harassed Shiv Sena leaders even though party founder Bal Thackeray had criticised the then prime minister in his speeches. Thackeray, who joined hands with the Congress in 2019 after parting ways with the Bharatiya Janata Party, took part in a Congress event for the first time. He also wore a Congress scarf for a brief time. The programme was also attended by NCP (SP) chief Sharad Pawar and Congress president Mallikarjun Kharge.

Chicago Monday evening — a warmer Tuesday afternoon across India that seems to be always ahead of America — an elderly gentleman, confident on the stage, came across a veritable hero before his rousing, cheering audience. In theory, he was the same person who, in late June at the first presidential debate with Donald Trump, looked confused, lost and old. In practice, though, Joe Biden at the Democratic National Convention, almost two months older now, was a changed man as he took the adulation from the very same lot who had — for legitimate reasons — given him the shove from a re-election bid.

Canada, has temporarily suspended the entry of new temporary foreign workers for low-wage jobs in the Montreal area. As a result, applications for jobs in the Montreal area paying less than $27.47 per hour will be paused for six months, starting September 3. The decision will not apply to the construction, agriculture, food processing, education and social services sectors. This comes after the country's temporary foreign worker program was described as a 'breeding ground for contemporary forms of slavery' in a report by UN investigator Tomoya Obokata, according to an article in Canada's leading daily, the Globe and Mail.