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MOSCOW: A permanent solution has been found for the payment of arms purchased by India that had been stalled due to financial sanctions by the US, the Russian side has confirmed. With the resolution, Russia is confident that supplies for the S400 air defence missile system will commence within two years and all five regiments on order will be delivered by 2024. While refusing to go into details as they involve financial institutions on both sides, senior Russian officials said that the solution to payments issue will also enable participation in upcoming Indian acquisition competitions like new generation submarines and fighter jets. “For big contracts like the S400, we have found a permanent solution for the payments. The details are very confidential and there will be nuances in different contracts but the fact is that the solution is permanent,” Vladimir Drozhzhov, deputy director, Federal Service for Military Technical Cooperation, said in reply to a query by ET. The … [Read more...] about India finds permanent solution for payment of Russian arms

Capgemini organised the 10th edition of Tech Fiesta, its nationwide technology event designed to showcase innovation and intellectual property (IP) in cutting-edge technologies of the future that provide business benefits to customers. Themed as ‘Intelligent Enterprise: Unlocking Newer Possibilities’, the 2018 edition of the event in Bengaluru was inaugurated by Srinivas Kandula, Country Head of Capgemini in India and Member of the Group Executive Committee. Hosted across five offices across the country, Tech Fiesta 2018 was attended by over 20,000 employees, partners and customers. Tech Fiesta is designed and driven by Capgemini’s Mumbai Applied Innovation Exchange (AIE), which is part of a global network of 12 AIEs that are at the heart of Capgemini’s innovation services delivery. A global platform designed to enable enterprises to discover relevant innovations, the AIEs serve dual roles — as a hub for organising Capgemini’s ecosystem of … [Read more...] about 10th edition of Tech Fiesta: Showcasing Capgemini’s innovation, cutting-edge solutions

May 27, 2019 10:08 Chinese President Xi Jinping has called off plans to visit Korea in June as a trade war with the U.S. intensifies. The government here had hoped that Xi would visit either before or after the G20 summit in Osaka, Japan on June 28-29. A diplomatic source in Seoul said Friday, "China feels there is very little to gain from a visit to Seoul for the time being." The tides changed abruptly after the Trump administration cut off all trade with Huawei and pressured allies to join its boycott of the Chinese electronics and telecom giant. "China wants to focus all its efforts on dealing with the U.S. for now," the source said. Beijing also took stalled denuclearization talks with North Korea into account, and since Xi will not be visiting the North he would consider it a breach of protocol to visit the South, according to Shin Jung-seung, South Korea's former ambassador to China.But the move could also be seen as a warning to South Korea against siding with the U.S. in … [Read more...] about Xi Calls off June Visit to Seoul

Digital payments platform PhonePe on Friday announced that it has crossed 5 billion transactions on its app. Bengaluru-headquartered PhonePe crossed the one-billion transaction milestone in November last year and has grown a phenomenal 5 times in just one year, the company said in a statement. The digital payments platform has over 175 million registered users in the country. "Our journey over the last 4 years has been incredible, not just in terms of the growth of the platform, but also in realizing the social impact that payments and financial services can create," said Sameer Nigam, Founder and CEO, PhonePe. "We believe the MSME sector is the core engine of the Indian economy and there is a need to create compelling solutions for MSMEs to thrive," he added. PhonePe is accepted as a payment option across 80 lakh MSMEs in over 215 cities in India and over 56 per cent of its transactions are now driven by users in Tier II and III cities. This year, PhonePe introduced new use cases to … [Read more...] about PhonePe Clocks 5 Billion Transactions And Registers 5X Growth in The Past Year

Editor's note: Azhar Azam works in a private organization as a market & business analyst and writes about geopolitical issues and regional conflicts. The article reflects the author's opinions and not necessarily the views of CGTN. On December 11, 2019, the Democratic-dominated US House of Representatives passed a gargantuan 738 billion US dollars defense bill with bipartisan support for the fiscal year 2020 and sent the conference report on the National Defense Authorization Act (NDAA) to the Republican-controlled Senate where it is expected to pass within next seven days. The passage of the defense bill whipped up the US President Donald Trump, who urged Congress "don't delay this anymore!" and stated he would "sign this historic defense legislation immediately." It encompassed 71.5 billion US dollars for Overseas Contingency Operations (OCO), including Operation Freedom's Sentinel (OFS) in Afghanistan. In the 2019 fiscal year, the ongoing OFS or war in Afghanistan was the most … [Read more...] about The US should fix its Afghanistan impasse rather than confine China