Visa gets go-ahead to prepare for business in China
Visa, the global digital payments giant, said on Tuesday it has received approval from the People's Bank of China (PBOC) to begin formal preparations to establish a domestic bankcard clearing institution in the country. The approval, announced by Visa in a statement, marks an important milestone towards the company serving China's domestic payments market. “The approval of our application to prepare marks a significant step forward in Visa’s long-standing commitment to China," said chief executive Ryan McInerney. "We greatly appreciate the important role of the leaders of the United States and China in pursuing a constructive and strategically stable relationship between the world’s largest economies,” he added. Visa said China is one of the world's most advanced and dynamic digital payments markets and that it looks forward to bringing its innovation, security and reliability to Chinese consumers and businesses. The PBOC said Visa must complete the preparatory work within one year before submitting a formal application to commence operations. The central bank and the National Financial Regulatory Administration will jointly review the application and, if approved, issue a bankcard clearing business licence. Gary Ng, senior economist for Asia-Pacific at Natixis, said the move to introduce Visa showed China's willingness to further open up its financial sector....
Read full articleMORE NEWS
‘We will continue to strengthen our cooperation’: PM Modi congratulates Brazilian President Lula on re-election
Prime Minister Narendra Modi congratulated President Luiz Inácio Lula da Silva on his re-election in Brazil. Modi expressed his eagerness to enhance the India-Brazil Strategic Partnership and broaden collaboration across various sectors. The two leaders discussed their commitment to addressing shared priorities within the Global South. Modi emphasized their goal of creating a more inclusive and sustainable world together.
PM Modi’s lookalike takes a dig at Kunal Kamra on video call in Samay Raina India’s Got Latent, says ‘ye kya WhatsApp ka chutkula utha liya tha?’
Raahil, also known as Odi Ji, showcased his talent by impersonating Prime Minister Narendra Modi on India’s Got Latent. After the performance, he engaged in a humorous video call with comedian Kunal Kamra. Raahil made a witty remark about the falling value of the Indian rupee during his act. He successfully matched his predicted score of 10, winning the episode with a perfect score.
India plan bowling backups for New Zealand Tests, Arshdeep in contention for red-ball debut
India plans to retain several bowlers as backup for the upcoming Test series in New Zealand. Bowling coach Morne Morkel emphasized the importance of a workload management strategy for players. Arshdeep Singh, a white-ball specialist, is being considered for his potential debut in red-ball cricket. Bowlers will be rotated in one-day internationals to prepare them adequately for Tests. The two-match Test series is scheduled to begin on November 19.
Rahul Gandhi's convoy collides on Purvanchal Expressway
Congress leader Rahul Gandhi was unhurt after his convoy met with an accident on Monday while he was travelling to Sultanpur to appear before an MP-MLA court in a defamation case.
