India's Credila Financial Services files for $584 million IPO
($1 = 85.6520 Indian rupees)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
4 minutes ago
- Reuters
India's Bharti Airtel launches cloud, AI services for businesses, telcos
Aug 4 (Reuters) - Bharti Airtel's ( opens new tab digital unit Xtelify on Monday announced a new cloud platform and AI-powered software offerings for businesses and telecom operators, alongside partnerships with Singtel, Globe Telecom and Airtel Africa. Airtel Cloud offers a range of services including, infrastructure- and platform-as-a-service with secure migration and scaling, the company said in a statement. The new AI-powered software platform for telcom operators features a data engine, workforce tools and customer engagement modules to improve service and lift average revenue per user (ARPU) - a key metric for the sector, India's No. 2 telecom operator added. As part of the plan, Airtel has partnered with Singtel ( opens new tab, Globe Telecom ( opens new tab and Airtel Africa (AAF.L), opens new tab to deploy the platform, enabling applications such as AI-driven workforce optimisation, omni-channel customer service and real-time customer engagement. India has been stepping up efforts to pilot local cloud data storage. The country's cloud services market was estimated at $8.3 billion in 2023 and is expected to grow to $24.2 billion by 2028, according to a 2024, opens new tab report by International Data Corporation. The market is so far largely dominated by foreign firms. Last month, Airtel announced a partnership with AI-powered search engine Perplexity, offering a 12-month free subscription to its 360 million customers. ($1 = 87.5700 Indian rupees)
Reuters
7 minutes ago
- Reuters
Singapore launches economic review to map future amid trade and tech shifts
SINGAPORE, Aug 4 (Reuters) - Singapore is launching a broad review to secure the city-state's future as a trade and financial hub, announcing committees on Monday to look into areas such as competitiveness, artificial intelligence, and how restructuring would affect people. The economic strategy review will have five committees, each chaired by two government ministers and including members from the business, academic and social sectors, and they are due to publish their recommendations by mid-2026. "We must reinforce Singapore's competitive positioning as a key hub for trade and investment and remain relevant to the global economy," Deputy Prime Minister and Trade Minister Gan Kim Yong said at a press conference. The review comes as U.S. tariffs and global trade tensions threaten the Southeast Asian nation's growth, where trade is three times the size of its gross domestic product. Singapore's exports to the U.S. remain subject to a 10% baseline tariff after U.S. President Donald Trump set new tariffs for dozens of countries, but authorities are still waiting for clarity on proposed sector-specific tariffs in areas such as pharmaceuticals. Last week, the central bank said the effective U.S. tariff rate on Singapore's exports rose to 7.8% in July from 6.8% in April on the back of steel and aluminium tariff hikes. The Monetary Authority of Singapore held its policy settings steady last week, adopting a wait-and-see approach to trade tensions after easing at its previous two reviews this year. While the economy grew at a better-than-expected annual rate of 4.3% in the second quarter, according to preliminary data, authorities have warned that growth is likely to slow as the impact of frontloading of orders to beat the U.S. tariffs tapers off.
Reuters
7 minutes ago
- Reuters
Japanese Labour Ministry panel proposes record minimum wage hike, Nikkei reports
TOKYO, Aug 4 (Reuters) - A Japanese Labour Ministry panel has proposed a 6% increase in the national average minimum wage for this fiscal year, the biggest such jump since at least 2002, the Nikkei business newspaper reported on Monday. Achieving real wage growth has become a top policy priority for Japan, as persistent inflation continues to squeeze households. Prime Minister Shigeru Ishiba's ruling coalition lost control of the upper house in an election in July, highlighting growing frustration with the government's response. The proposed hike would raise the average minimum wage to 1,118 yen ($7.57) per hour, surpassing last year's 5% increase and marking the largest rise since the current system was introduced 23 years ago, Nikkei said. It did not specify a source for the information. A spokesperson for the Labour Ministry could not immediately be reached to comment on the report. Ishiba pledged last year to raise the average minimum wage by 42% to 1,500 yen per hour by the end of the decade, bringing forward the target from the original mid-2030s goal set by the previous administration. Higher minimum wages carry significant implications for Japan's wage trajectory, especially given that the proportion of workers affected by minimum wage revisions is relatively high compared to other developed economies. However, steep wage hikes pose risks for small businesses, which employ about 70% of Japan's workforce, as these firms already allocate a larger share of profits to wages than their larger counterparts and may struggle to absorb further increases. ($1 = 147.7600 yen)
