Author: News Desk
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The Annual Summit organised by the International Association of Money Transfer Networks( IAMTN), IAMTN Summit 2024, is a unique event that brings together industry leaders, innovators, and experts from financial services and digital payments sectors. The two-day summit will be held on October 9-10, 2024 at Habtoor Palace, Dubai, UAE. It promises to be an engaging and insightful experience, featuring keynote speakers, panel discussions, workshops, and ample networking opportunities. This summit will bring together financial services and fintech trailblazers from around the world to engage in thought-provoking discussions outlined in our meticulously crafted two-day agenda. The event will delve into…
United States: An international research team, including chemist Franz Geiger from Northwestern University, has made a remarkable discovery: metallic minerals on the deep-ocean floor produce oxygen at depths of 13,000 feet. The unexpected finding challenges the long-standing belief that Earth’s oxygen is solely generated by photosynthetic organisms like plants and algae. Instead, it suggests that oxygen can also be produced in the seafloor’s dark, lightless depths, potentially supporting aerobic marine life in complete darkness. Mechanism for Oxygen production The study published in ‘Nature Geoscience’, reveals that polymetallic nodules or the natural mineral deposits found on the ocean floor are at…
United States: The US vice president, Kamala Harris, nominated her as his successor and complimented her boss, President Joe Biden, a day after he withdrew from the presidential race. In her first public appearance since the 81-year-old US president abruptly announced his withdrawal from the November polls a day earlier, Harris stated on Monday that “Joe Biden’s legacy of accomplishment over the last three years is unmatched in modern history.” “In one term, he has already surpassed the legacy of most presidents who have two terms in office,” Harris said at a White House event to honour college athletes, where…
United States: Tesla CEO Elon Musk has announced that the electric vehicle giant will commence the production and deployment of humanoid robots starting next year. The robots, known as Optimus, will initially be used within Tesla’s operations before being available for external sale in 2026. Musk had previously said that, he anticipated Optimus would be operational in Tesla factories by the end of 2024. However, this latest update reveals a more gradual rollout plan. “Tesla will have genuinely useful humanoid robots in low production for internal use next year and, hopefully, in high production for other companies by 2026,” Musk…
Brazil: Sharks off the coast of Brazil have tested positive for cocaine, according to a recent report from scientists. Since searchers discovered tons of cocaine in Florida, South America, and Central America, they have been assuming that drugs thrown overboard by traffickers could have affected marine life. These procedures have led to the discovery of cocaine residues in surface waters and sewage systems in at least 37 nations between 2011 and 2017. Additionally, the medication has been found in mollusks, crabs, and bony fish, among other aquatic species. Having said that, no research has ever examined the possibility that sharks…
United States: US President Joe Biden received an overwhelming amount of messages expressing gratitude and support following his unexpected statement on Sunday that he is withdrawing from the 2024 presidential run and supporting Vice President Kamala Harris as the Democratic contender. It was the second major event in US politics in less than a week, after the failed assassination attempt on US President Donald Trump on July 13 at a rally in Pennsylvania, which prompted world leaders to support him as the Republican nominee. During their meeting in Washington this month, British Prime Minister Keir Starmer expressed his respect for…
Shanghai: China has lowered a key short-term policy rate and its benchmark lending rates, aiming to stimulate growth in the world’s second-largest economy. The rate cuts follow weaker-than-expected second-quarter economic data and a recent plenum meeting of top Chinese leaders. Facing the risk of deflation, a prolonged property crisis, surging debt, and weak consumer and business sentiment, China is taking decisive action to bolster its economy amid rising global trade tensions. The People’s Bank of China (PBOC) announced a reduction in the seven-day reverse repo rate from 1.8 percent to 1.7 percent, alongside improvements in the mechanism of open market…
Turkey: President Recep Tayyip Erdogan has stated that Turkey is ready to build a naval base in Cyprus, 50 years after its forces invaded the now-divided island. The leader of Cyprus was quoted as saying on Sunday by Turkey’s official Anadolu news agency, “If necessary, we can construct a base and naval structures in the north.” Erdogan claimed that on Saturday, he visited Northern Cyprus and then took a plane back to Turkey to commemorate 50 years since Turkey’s invasion. In addition, he charged that competitor Greece intended to build a naval station in Cyprus, over which the two countries…
Farnborough: The Aviation leaders will meet for a summit outside London as the industry struggles with supply chain disruptions, aircraft delays, and faltering plans to reduce carbon emissions. Farnborough Airshow running from July 22-26 is a key event for top executives from airlines, aircraft manufacturers, and weapons makers. This year’s show is not expected to produce more orders as Airbus is struggling to meet production targets, and Boeing is maintaining a low profile following a safety incident in January involving a 737 MAX jet. Despite the unfavourable atmosphere, some deals are anticipated. Virgin Atlantic is close to placing an order…
United Kingdom: The UK’s Labour has pledged to introduce extensive reforms to the £2 trillion ($2.6 trillion) private pensions industry, aiming to increase investments, grow pension funds, and reduce inefficiency in the system. A group comprising ministers from the Treasury and the Department of Work and Pensions, along with executives from the industry, will suggest measures to reduce costs and enhance investment possibilities. This will enable retirement scheme managers to increase pension pots by up to £11,000 ($$14,410). The task force will also think about facilitating pension funds’ expansion into a greater proportion of UK firms as part of their…