An increase in government expenditure, and a small cut in income taxes: these are among the key expectations of economists from Finance Minister Nirmala Sitharaman as she presents the final Union Budget for 2024-25 on July 23.Aditi Nayar, Chief Economist at ICRA, and Anubhuti Sahay, Head of India Economic Research at Standard Chartered Bank discussed … Read more
T-Mobile will buy almost all of US Cellular’s wireless operations, including customers, stores, and 30% of its spectrum assets, in a deal valued at .4 billion.
Investors are pouring billions of dollars into AI companies, with the market capitalization of major tech giants increasing significantly since the release of ChatGPT in November 2022. However, the income generated by AI remains relatively small compared to the investments being made. The promise of future riches has led to forecasts of up to trillion needed for advanced semiconductors, data centers, and power to train and run AI models. Similar investment booms have occurred in the past with industries like railways and telecom, but they often resulted in financial disappointment for investors. The AI boom also comes with risks such as the short lifespan of AI models, potential commoditization of advances, and government regulations that could limit profits.
CyTA has been given the approval to supply and install 400,000 smart meters by a new law passed by the House.
Fact: Prime Minister Sheikh Hasina directed the National Board of Revenue (NBR) not to increase taxes on food, agro-related items, and fertilizers in the upcoming budget.
The death toll from historic floods in Brazil’s southernmost state of Rio Grande do Sul reached 113, with 146 people still unaccounted for.
Fact: Freedom Holding Corp. is planning to obtain banking licenses in Cyprus as part of its strategic priorities.
Ioannis Mavridis is being promoted to CEO of Cablenet, replacing Yiannos Michaelides who is stepping down after four years.
Countries in Africa have implemented various tax policy measures in the last 3 years, including new taxes on different sectors, increased taxes on certain goods and services, and changes to tax exemptions.
Fact: HSH Prince Albert II of Monaco toured Epic’s Nicosia headquarters on April 18, 2024, accompanied by the management team of Monaco Telecom.