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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Dubai World Trade Centre to become a crypto zone and regulator for cryptocurrencies: Details here

Dubai is currently hosting the World Expo, which will go on till March 31, 2022. Now the Dubai Media Office has announced that the Dubai World Trade Centre (DWTC) will now become a crypto zone and regulator for cryptocurrencies and other virtual assets. This decision has been made as an effort to attract new business as regional economic competition heats up.

This initiative has been taken up to create new economic sectors. The specialised zone for virtual assets will host digital assets, products, operators and exchanges.

The statement released by the Dubai Media Office states that the country will set up “rigorous standards for investor protection, anti-money laundering, combating the financing of terrorism, compliance and cross border deal flow tracing.” This stance to set up a separate zone is a progressive step taken by the Dubai government to promote digitization, and it is being expected that other countries will also follow suit.

To recall, back in September, the UAE Securities and Commodities Authority, and the Dubai World Trade Centre Authority (DWTCA) came to an agreement that will allow for a framework to be set up, allowing the DWTCA to approve and licence financial activities relating to cryptocurrency assets. Then in October, another Dubai free zone, DIFC released the first part of a regulatory framework for digital tokens.

In other news, the Reserve Bank of India (RBI) reportedly wants a complete ban on cryptocurrencies in India. It expressed its views during the 592nd meeting of the central board of directors chaired by Governor Shaktikanta Das. While the central bank has expressed its views on the matter, some of its board members sought out a balanced view on digital assets, asking for a purview on the developments in the technological space and larger implications for the financial sector.

The post Dubai World Trade Centre to become a crypto zone and regulator for cryptocurrencies: Details here appeared first on BGR India.



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