India’s forex reserves rise to $8.22 billion, crosses $500 billion for the 1st time

New Delhi: India’s foreign reserves crossed the $500 billion mark on Friday for the first time after registering a massive surge of $8.22 billion in the week ended June 5 aided by higher foreign inflows. According to RBI’s weekly statistical data, the overall forex reserves increased to $501.703 billion on June 5 from $493.480 billion reported for the week ended…

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Raising €750 Billion Coronavirus Fund May Help Stabilize Europe

BRUSSELS — For decades, even when the 2008 financial crisis threatened to blow the bloc apart, the European Union’s wealthier nations resisted the notion of collective debt. But the coronavirus has so fundamentally damaged the bloc’s economy that it is now forcing European leaders to consider the sort of unified and sweeping response once thought unworkable. The European Commission, the…

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Australia – New Zealand flights set to take off soon

Dust off your passport and dig out your Kiwi currency: flights between Australia and New Zealand could resume as early as July under plans to open a ‘travel bubble’ between the two countries. NZ Prime Minister Jacinda Ardern said today that both the Australian and New Zealand governments “are working to move on this as quickly as we can” on a proposal which…

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INDIA’S CONTACT-TRACING APP AAROGYA SETU,TOPS 100 MILLION USERS IN 41 DAYS

As most countries across the globe scramble to build an app to trace the spread of coronavirus, India’s solution is growing at an unprecedented scale — despite being dogged by privacy concerns. New Delhi’s contact-tracing app, called Aarogya Setu, has reached 100 million users in 41 days since its release. A representative at think-tank NITI Aayog told TechCrunch that this 100…

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AMERICA MAY AVERT 5G FRAGMENTATION: SOURCES SAY HUAWEI & US FIRMS TO WORK TOGETHER ON 5G STANDARDS

The US Commerce Department is reportedly finalizing rules that would allow US companies to work with China’s Huawei to develop 5G technology standards. The effort could potentially prevent a split in the 5G standard between US and Chinese flavors. The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work…

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