Reserve Bank of Australia weighs options to use regulatory powers to reduce cost of e-payments

On Wednesday, Michele Bullock, the Assistant Governor of Australia’s central bank stated, the central bank is weighing its option of using its regulatory powers to slash the cost of electronic payments for merchants and consumers. The development comes in the wake of consumers becoming wary of using cash in these times of the coronavirus pandemic.…

WhatsApp, PayPal, Google & Tencent among investors in Gojek’s latest funding round

On Wednesday, WhatsApp, Facebook’s messaging platform, and PayPal Holdings Inc said, they have invested in ride-hailing, payment, and food delivery app operator Gojek, in the Indonesian firm’s latest funding round. Although WhatsApp and PayPal did not disclose the size of the investment nor their stakeholdings, according to a Gojek investor, WhatsApp’s investment was “meaningful”. In…

Facebook signs licensing deal with century old Indian music label Saregama

On Wednesday, in a statement Facebook Inc said, it has signed a global licensing deal with one of India’s biggest music labels. The deal allows consumers to select songs from Saragama’s gigantic catalogue of Bollywood music for their Facebook and Instagram posts. With the news of the deal reaching the market, Saregama India Ltd’s shares…

German carmakers upbeat on production and exports in May

According to the results of a survey by Germany’s Ifo economic institute, German carmakers are optimistic about production and exports of vehicles in May. The development comes as a ray of hope in Germany’s economy which has been ravaged by the coronavirus which emerged in Wuhan, China. Germany’s index for export expectations rose to -9.8…

Chinese electric vehicle maker Polestar to open 20 stores in mainland China

On Wednesday, Polestar, an electric vehicle maker owned by China’s Geely stated, it plans on opening 20 showrooms in the mainland, as it prepares for deliveries of its Polestar 2 electric sedan. Polestar aims to compete with Tesla Inc’s Model 3. Currently, Polestar has just 1 showroom in Beijing. It plans to have 20 of…

France’s EDF enters into JV with China Energy Investment Corporation for the development of offshore winds farms

In a statement on Tuesday, France’s state-controlled power group EDF said, it has entered into a joint venture partnership with China Energy Investment Corporation (CEI) to develop offshore wind farms in China. EDF will take a 37.5% stake in the project company through its subsidiaries EDF Renewables and EDF China with CEI Group holding the…

Telefonica Deutschland selects Ericsson for its core 5G network

On Tuesday, in a significant development, Telefonica Deutschland stated, it will build its core 5G mobile network in Germany using equipment procured from Ericsson; Telefonica Deutschland took this view basing itself on security concerns revolving around next-generation services. Three main mobile service providers in Germany are taking steps to remove Huawei from their core network;…