India Tests AI for Severe Weather Forecast
India’s governmental department believes that AI climate models can help improve forecasting, especially important for severe weather conditions like floods and droughts.
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China’s Instagram Rival Xiaohongshu Approaches for 2023 Net Profit
The Chinese social network Xiaohongshu Technology Co., which in terms of functional content resembles Instagram in many ways, plans to make a profit this year.
OpenAI Reportedly Plans to Raise New Funding
Media outlets, citing insiders, report that OpenAI is currently discussing the possible holding of a new round of fundraising for at least $100 billion.
China Softens Stance on Gaming
China approved 105 domestic games on Monday, December 25th.
Royal Bank of Canada Gets Nod for Purchase of HSBC Unit
Canada at the end of last week approved the implementation of a deal to acquire the internal unit of HSBC by Royal Bank of Canada (RBC) for $10.2 billion.
South Korea Fines Global Banks for Illegal Naked Short Selling
South Korea has decided to impose a total fine of 26.5 billion won ($20.4 million) on two global investment banks and a local unit of an international company for involvement in naked short selling.
Bank of Japan Governor Signals Chance of Policy Shift
The governor of the Bank of Japan, Kazuo Ueda, on Monday, December 25, stated that there is currently an increasing likelihood that the financial regulator’s inflation target will be reached, noting the possibility of making adjustments to the policy of the organization he heads.
China’s Biggest Banks Lower Deposit Rates
China’s largest state-owned banks are reducing deposit rates for the third time since the beginning of this year.
Nigeria Removes Crypto Restrictions
After almost two years of a comprehensive ban prohibiting local banks from engaging with digital currencies, the Central Bank of Nigeria (CBN) has lifted the given restrictions, allowing lenders to open accounts for crypto firms.
Crypto Compensation Less Reliant on Tokens: Survey
Those working in the crypto industry today are much more likely to receive job compensation in the form of equity than crypto tokens, unlike only a few years ago.
Crypto Users to Near 1B in 2024: Forecast
Given bullish market trends maintained their dominance in the near future, the number of crypto users could reach between 850 and 950 million in 2024, analysts predict.
Registered Crypto Firms Surge 56% in Spain
Several international platforms, such as Revolut, Bitpanda, Crypto.com and Vivid, have joined the list of registered crypto providers in Spain in 2023.
Revolut Reports Revenue of More Than $1 Billion in 2022
The British fintech company Revolut reported that its revenue for 2022 amounted to $1.1 billion.
TNB Partners Sime Darby to Advance Malaysia’s Clean Energy Goals
Collaboration between Malaysian utility firm Tenaga Nasional Berhad (TNB) and property developer Sime Darby Property Berhad aims to expand sustainable energy projects within Sime Darby Property’s Township developments.
Sustainable Tech Funding Stands Strong in 2023: Crunchbase
Despite a significant decrease in startup investment in most industries, sustainable tech funding managed to maintain the 2022 level on a global scale.
UK Inches Closer to Technical Recession
The United Kingdom’s economic system is currently on a path that could end in recession.
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