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Business

South Korea investing $7 billion in AI to stay ahead of the curve
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12 April, 2024

South Korea investing $7 billion in AI to stay ahead of the curve

South Korean President Yoon Suk Yeol has confirmed the country’s intention to invest $6.9 billion in supporting the local AI...
Microsoft new London hub to ‘drive pioneering work’ on AI models
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11 April, 2024

Microsoft new London hub to ‘drive pioneering work’ on AI models

Led by ex-Inflection and Deepmind engineer Jordan Hoffmann, the London AI hub will employ in-house AI experts with most team...
Metaverse has critical role in medical tourism hitting $200B by 2027: report
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11 April, 2024

Metaverse has critical role in medical tourism hitting $200B by 2027: report

A report by Omnia Health says medical tourism faces challenges the metaverse can solve, such as stressful pre-travel arrangements and...
European regulators say MEV mining techniques may be ‘market abuse’
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11 April, 2024

European regulators say MEV mining techniques may be ‘market abuse’

ESMA and MiCA do not propose that all maximal extractable value (MEV) techniques are considered market abuse, but if service...
India’s central bank allows non-banking payment operators to offer CBDC wallets
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11 April, 2024

India’s central bank allows non-banking payment operators to offer CBDC wallets

India's central bank is doubling down on its CBDC initiatives, announcing plans to make the digital rupee more accessible to...
Financial industry bodies defend permissionless blockchains against Basel Committee’s classification
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11 April, 2024

Financial industry bodies defend permissionless blockchains against Basel Committee’s classification

Basel Committee on Banking Supervision published a report in December claiming that all permissionless blockchains are risky and banks must...
Microsoft, PwC Middle East new AI center of excellence to upskill workforce in Saudi Arabia
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11 April, 2024

Microsoft, PwC Middle East new AI center of excellence to upskill workforce in Saudi Arabia

The new AI excellence center led by Microsoft and PwC Middle East will focus on equipping the local workforce with...
Hong Kong’s largest digital bank pursues stablecoin issuers
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11 April, 2024

Hong Kong’s largest digital bank pursues stablecoin issuers

ZA Bank will offer stablecoin issuers accounts for cash reserves and is exploring possibly custodying stablecoins and other digital assets...
PayPal users can now use PYUSD stablecoin to fund cross-border transfers
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10 April, 2024

PayPal users can now use PYUSD stablecoin to fund cross-border transfers

With circulation down by 40%, PayPal is exploring new use cases for its PYSUD stablecoin, and international remittances have emerged...
Isle of Man to release national AI strategy by end of 2024
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10 April, 2024

Isle of Man to release national AI strategy by end of 2024

With work for the incoming national AI strategy expected to gather steam in the coming months, the Isle of Man...
US Treasury plea for anti-‘crypto’ tools gets mixed reception from Senate committee
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10 April, 2024

US Treasury plea for anti-‘crypto’ tools gets mixed reception from Senate committee

As criminals become more innovative, the chances of rogue individuals taking advantage of "cryptos" in funding their ideologies increase, forcing...
Dutch Central Bank President praises digital euro, says monetary policy needs ‘to keep up with society’
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10 April, 2024

Dutch Central Bank President praises digital euro, says monetary policy needs ‘to keep up with society’

The Dutch Central Bank President Klaas Knot says digital euro needs “to keep up with society. To pursue strategic autonomy....