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<ul><li>In a major breakthrough, the G20 adopted the New Delhi Leaders Summit Declaration. </li><li>A consensus has been reached on New Delhi <keyword id="2598296" type="General" weightage="20" keywordseo="g20-leaders-summit" source="Orion">G20 Leaders Summit</keyword> Declaration, said PM Modi. </li><li>India on Friday circulated a draft Summit Declaration among the member countries without the paragraph on Ukraine conflict, as per diplomatic sources.</li></ul>New Delhi, In a major breakthrough, the G20 adopted the New Delhi Leaders Summit Declaration on Saturday after Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> announced that consensus had been reached among member states. "Have just got the good news that due to the hard work of our teams and your cooperation, a consensus has been reached on New Delhi G20 Leaders Summit Declaration," Modi told the leaders while addressing the second session of the Summit at the Bharat Mandapam here. "It is my proposal that this G20 Declaration be adopted," the prime minister said. After the approval of the members, Modi said, "I announce the adoption of this Declaration". "On this occasion I would like to thank our ministers, sherpas and all officials who made this possible with their hard work," he said. With consensus eluding on the paragraph relating to the Ukraine conflict, India had on Friday circulated a draft Summit Declaration among the member countries without the paragraph on the geopolitical issue in an attempt to hammer out a positive outcome, according to diplomatic sources. "The New Delhi Leaders Declaration has been officially adopted at the G20 India Leaders' Summit! Today's era must be marked as the golden age of human-centric globalisation and India's G20 Presidency under the leadership of PM Narendra Modi has worked tirelessly towards this goal," India's G20 Sherpa Amitabh Kant said on X. "Historical and Path breaking G20 Declaration with 100% consensus on all developmental and geo-political issues. The new geopolitical paras are a powerful call for Planet, People, Peace and Prosperity in today's world. Demonstrates PM Narendra Modi leadership in today's world," he said.

G20 Leaders Summit adopts New Delhi Declaration

<ul><li>Everyone's cooperation consensus has been reached on New Delhi G20 Leadership Declaration, said Modi. </li><li>The details of the wordings of the <keyword id="936179" type="General" weightage="80" keywordseo="delhi-declaration" source="Orion">Delhi declaration</keyword> are not yet known. </li><li>It indicates some sort of compromise between Russia/China combined and other G20 members has been arrived at, on the language related to the Ukraine war.</li></ul>New Delhi, In a surprise development, the G20 leaders on Saturday arrived at a consensus on the Delhi Declaration and adopted it, Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> announced. As Chair of the summit, Modi made the announcement during the second session of the ongoing G20 Leaders' Summit in New Delhi. "There is good news, with everyone's cooperation consensus has been reached on New Delhi G20 Leadership Declaration," he said. He praised the hard work of the Sherpas and officials for making it possible to forge a consensus on the final outcome document or the Delhi Declaration. The development was quite unexpected as the Delhi Declaration was being expected to be announced on Sunday, the last day of the Summit. Though the details of the wordings of the Delhi declaration are not yet known, the fact that Modi personally having announced that a consensus has been arrived at, indicates that some sort of compromise between Russia/China combined and other members of the G20 bloc has been arrived at, especially on the language related to the Ukraine war.. "India's G20 Presidency has been the most ambitious in history of G20. There are 73 outcomes (lines of effort) and 39 annexed documents (presidency documents, not including <keyword id="196398" type="General" weightage="50" keywordseo="working-group" source="Orion">Working Group</keyword> outcome documents). With 112 outcomes and presidency documents, we have more than doubled the substantive work from previous presidencies," official sources said. As reported earlier, amid hectic parleys over finding a consensus on the wordings for the Russia-Ukraine war, the G20 diplomats are learnt to have arrived at a "compromise language" to describe the full scale invasion.

G20 leaders arrived at a consensus on the Delhi Declaration and adopted it: PM Modi

<table class="image-container float_right" width="200"><tr><td><div class="image"></div><a href="http://controlpanel.newscred.com/api/8c00fbee61d5bcf0c6092d8b92ebbca1/explorer/index#">AFP</a></td></tr></table>A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.
Yi Gang, deputy governor of <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>'s central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.
Those fears have largely been fueled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.
Yi said a currency war could be avoided if major countries observed the G20 consensus that monetary policy should primarily serve as a tool for domestic economy, the Xinhua report said.
But China "is fully prepared", he added.
"In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks of foreign countries."
South Korea's incoming president Park Geun-Hye has also signaled her willingness to step in to stabilize the won and protect exporters battling a stronger Korean currency and a weaker yen.
<div class="nc_footer">
Copyright (2013) AFP. All rights reserved.
</div>

Top Central Banker In China Says Beijing Is Ready For The 'Currency War' To Begin

<keyword id="161813" type="General" weightage="20" keywordseo="union-finance-minister" source="Orion">Union Finance Minister</keyword> <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> said on Friday that her Ministry is looking at ways to reduce the overall level of <keyword id="169777" type="General" weightage="20" keywordseo="government-debt" source="Orion">government debt</keyword> so that future generations do not have to bear the burden. "We are conscious of the debt of the Government of India today. Compared to many other countries it might not be as high. But even there, we are consciously looking at experiments in different parts of the world," the finance minister said while addressing the <keyword id="19206518" type="General" weightage="20" keywordseo="kautilya-economic-conclave" source="Orion">Kautilya Economic Conclave</keyword>. "We are looking at ways in which we can bring down the overall debt. And I'm sure going to be very successful in that because I'm very much in line to meet India's aspirational requirements, but deal with it with a sense of responsibility so that the coming generations don't feel the burden, that government has left debt on them," she explained. The Finance Minister also said that there was a global consensus on putting in place a system for <keyword id="6259353" type="General" weightage="20" keywordseo="cryptocurrency-regulation" source="Orion">cryptocurrency regulation</keyword>. She highliighted India's role in bringing this issue to the forefront during the G20 meeting. "Crypto was the issue that we're able to bring in G20 meeting under India presidency and brought all the countries on consensus. All G20 countries agreed on a template and they will bring the regulation based on that template," Sitharaman added.

Finance Ministry looking at ways to cut govt debt: Sitharaman

New Delhi, Feb 23 () Finance Minister Nirmala Sitharaman on Sunday said the international community has a unique opportunity to design a new international tax system to handle the challenges of digitalisation with a cost-efficient dispute prevention mechanism. She called upon the G20 countries to ensure that the consensus solution being developed by G20/inclusive framework for addressing tax challenges arising from digitalisation is truly inclusive, according to tweets by the finance ministry. The finance minister emphasised on the need for a closer collaboration between revenue agencies to investigate tax affairs of offenders who cross-borders for escaping tax investigation, a tweet said. During the second day of the G20 Finance Ministers and Central Bank Governors Meeting in Riyadh, Sitharaman highlighted the efforts undertaken by the Government of India to deepen the corporate bond market, such as removal of capital controls for identified categories of government securities (G-Secs) and increased Foreign Portfolio Investment (FPI) limit on the corporate bond market. The finance minister said she looked forward to continued engagement with G20 on this agenda. According to the tweets, Sitharaman explained the steps being taken to reform the credit default swap market, changing the method of buying and selling bonds electronically through exchanges, and facilitating on-tap issuances for all, among others, for further enabling greater investments in India's bond market. Speaking during the session on infrastructure investment, Sitharaman welcomed the efforts underway in G20 to develop infrastructure technology -- the InfraTech Agenda. However, she also cautioned that G20 should refrain from developing any common prescriptive approach since various countries are at varied stages of adoption of technology in infrastructure, according to the tweets. The minister highlighted successful Indian experience in the area of adoption of technology in infrastructure such as FASTags. She also pointed out the efforts being taken for installation of smart energy meters across India to reduce revenue leakages. DP SR HRS

'Global community has opportunity to design new int'l taxation to handle digitalisation challenges'

In the history of <keyword id="171345" type="General" weightage="20" keywordseo="india-us-ties" source="Orion">India-US ties</keyword>, 2022 has been a huge year and the next year will be even bigger, a top White House official has said, asserting that the Biden administration sees this alliance as among the most consequential relationships for America anywhere in the world. Principal Deputy National Security Advisor Jon Finer also applauded Prime Minister Narendra Modi for being instrumental in forging a consensus during the recently concluded <keyword id="417259" type="General" weightage="20" keywordseo="g-20-summit" source="Orion">G-20 Summit</keyword> in Indonesia's Bali province. "Looking around the world when the United States and (its) President (Joe) Biden look for partners that can truly help carry the load, truly helped move forward a global agenda, India and Prime Minister Modi are very high on that list," Finer told a gathering of several hundred Indian-Americans here on Sunday. "We just saw this in real-time at the G-20 where the prime minister was instrumental in forging a consensus around a joint statement among a far-flung group of countries and in the comments and work that the prime minister has done and others in the Indian government have done to highlight the increasing risk related to nuclear issues," he said. This relationship is being steered by Prime Minister Modi and President Biden who have met more than 15 times, the latest one being in Bali last week, said India's Ambassador to the US Taranjit Singh Sandhu, addressing the gathering at a lunch reception hosted by him to celebrate the 'Festival Season'. The unique event organised by the Embassy of India showcased the syncretic nature of Indian culture. The event saw festivals of different faiths - from Diwali to Hanukkah, Eid to Bodhi day, and from Gurpurab to Christmas celebrated with aplomb. Attended by top officials of the Biden administration, including Senior Advisor to the President Neera Tanden and Surgeon General Dr Vivek Murthy, the event demonstrated amply India's unique stature as the embodiment of 'Unity in Diversity' - a land where various faiths have not only coexisted but flourished. "This event really demonstrates so much about what President Biden is talking about when he talks about an inclusive country, a country that celebrates our diversity and our strength in diversity," Tanden said. "I'm grateful for this partnership between the United States and India. I think it has been important in the past, but it will be even more important going forward," Murthy said. Reflecting on his views on the India-US relationship, Finer reiterated the administration's commitment to it and said 2022 and 2023 are two critical years for this. "The year 2022 was huge in US-India relations. We think we have an even bigger year ahead in 2023. We have the Quad summit on the agenda coming up. We have India's G20 presidency, which I know we're all looking forward to, including Prime Minister Modi," Finer said in his address. He referred to the 2+2 Quad ministerial meetings taking place this spring, the relaunch of Indi US CEO dialogue and launch of critical and emerging technology dialogue early in 2023. "That's just the tip of the iceberg," Finer said, adding that both 2022 and 2023 are emblematic of how this relationship has proceeded for decades now. The entire Biden administration and certainly the president sees this as among the most consequential relationships for the US anywhere in the world, but also almost uniquely one of the relationships that still retains some of the greatest potential to continue to evolve and strengthen and improve, Finer said. "We are deeply committed to doing just that. It's easy to see why that is the case. At a time that can be extremely difficult to forge a bipartisan consensus in Washington on almost anything, there is a strong bipartisan consensus in support of the US-India relationship and has been for decades and a high degree of continuity from one administration to the next," he said. "There is obviously an increasing alignment of our interests, both geopolitically and as two world-leading democracies. And then, of course, the deep ties and incredible dynamism of our diaspora community, our cultural ties or commercial ties. "And then finally, and I don't want this to be lost, there are the ties of our leadership, which we consider to be hugely important," he said. Among those who attended the event included an array of important dignitaries, with friends of India from the administration, the US Congress, from different states, the think-tank community, private sector organisations, and the Indian diaspora. Notable attendees included Special Presidential Coordinator Amos Hochstein and Lieutenant Governor-Elect of Maryland Aruna Miller. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/india-played-essential-role-in-negotiating-g20-declaration-white-house/articleshow/95617104.cms">India played essential role in negotiating G20 declaration: White House</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/real-estate-investors-may-be-turning-to-india-following-a-continued-slump-in-chinas-property-market-says-a-report/articleshow/95649758.cms" style="">Real estate investors may be turning to India following a continued slump in China's property market, says a report</a>

2022 huge year for US-India ties, 2023 to be even bigger: White House

Union Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> on Thursday said that there was a greater acceptance among Group of 20 (G20) member countries that any new regulations on the crypto assets need to be globally coordinated. "I am glad to say that there is a greater acceptance among all G20 members, that any action on crypto assets will have to be global. "the G20, I think, has responded fairly with alacrity (on the crypto challenge)," Sitharaman told reporters at a news conference after a meeting of G20 finance ministers and central bank governors. "The G20 and its members agree that it's not going to be possible to have an independent, standalone country dealing with the crypto assets," the minister added. Sitharaman told reporters that the group has willingly responded to the issue. A "synthesis paper" would be taken up on matters related to crypto assets during India's G20 presidency. India has maintained it wants a collective global effort to deal with problems posed by cryptocurrencies such as bitcoin, and the finance ministry back in February said it had held a seminar for G20 member states to discuss how to come up with a common framework. Earlier in February, Sitharaman had said, "We are going through the study process so that there can be informed discussion. International Monetary Fund (IMF) and also the Financial Stability Board (FSB) have been doing their own little work on the crypto matter and progressing on their own. We've now asked them to do the papers and give it to us and the rapidity with which these papers have been already from IMF given and from FSB which will be given in time for the July meeting. I feel that we are progressing in this direction. So something should develop." She made the remarks while responding to a question regarding a consensus among the G20 nations on crypto assets during India's Presidency. "Recognising the risks attached to the private virtual assets, G20 nations moved a step closer to developing a coordinated and comprehensive policy approach to deal with the crypto assets by considering macroeconomic and regulatory perspectives," she said. The Central government led by Prime Minister Narendra Modi has for several years debated drafting a law to regulate or even ban cryptocurrencies but has not made a final decision. The Reserve Bank of India has said that cryptocurrencies should be banned as they are akin to a Ponzi scheme. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-finally-focuses-on-affordable-electric-scooters-after-losing-its-lead-to-ola-electric-and-tvs-motor/articleshow/99456189.cms">Ather finally focuses on affordable electric scooters after losing its lead to Ola Electric and TVS Motor</a> <a href="https://www.businessinsider.in/tech/news/17-of-people-store-financial-information-on-their-smartphones/articleshow/99426637.cms">Despite a rise in financial frauds, 17% of people store financial information on their smartphones</a> <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a>

Any action on crypto assets will have to be global: FM Nirmala Sitharaman

<ul class="summary-list"><li>India doesn't want the G20 to label Russia's invasion of Ukraine as a "war," per Reuters.</li><li>Its officials tried to convince members to refer to it as a "crisis," but were met with pushback.</li></ul>India tried to stop G20 countries describing the war Russia started in Ukraine as a "war," even as the conflict enters its second year, reports say.During the group's negotiations over a joint communique on Wednesday, India tried to convince members of the G20 to instead call the war a "crisis" or a "challenge," both <a href="https://www.reuters.com/world/india/india-says-era-is-not-war-g20-finance-meet-starts-2023-02-22/" target="_blank" rel="noopener">Reuters</a> and <a href="https://www.bloomberg.com/news/articles/2023-02-22/india-doesn-t-want-to-call-russia-s-war-a-war-at-g-20" target="_blank" rel="noopener">Bloomberg</a> reported. Reuters cited delegates of at least seven G20 countries for its report, while Bloomberg cited a further person familiar with the matter. None of the sources was named.Reuters said Indian delegates tried to push for a consensus, but were unsuccessful. Meetings continued in Bengaluru on Thursday.India's reluctance to use the word "war" is in keeping with the Kremlin's own preference. It also discourages the term in Russia, preferring that it be called a "special military operation," a phrase used by Vladimir Putin when announcing the invasion.(He has on occasion <a href="https://www.businessinsider.com/putin-calls-fighting-ukraine-war-first-time-special-military-operation-2022-12" target="_blank" rel="noopener">ignored his own rule</a> and used the word "war," but the euphemism continues to be widespread in Russian official media.)Russia is a member of the G20 and is sending a delegation to the meetings. It was to send deputies to its finance minister and central-bank chief instead of the officials themselves, Reuters said.China has also refused to call the war a "war," instead terming it a "crisis," per <a href="https://www.wsj.com/articles/at-g-20-summit-western-countries-push-to-call-the-ukraine-war-a-war-11668534427" target="_blank" rel="noopener">The Wall Street Journal</a>.Although India has not explicitly sided with Russia, it has continued to <a href="https://www.businessinsider.com/china-india-saving-russia-economic-collapse-oil-gas-markets-imports-2022-4" target="_blank" rel="noopener">economically support</a> the country by refusing to impose sanctions and scooping up Russian oil and natural gas imports.India's imports of Russian oil hit a record high of 1.4 million barrels per day in January, <a href="https://www.reuters.com/markets/commodities/indias-russian-oil-imports-surge-record-january-trade-2023-02-17/" target="_blank" rel="noopener">Reuters</a> reported, citing data from trade sources. "India is not keen to discuss or back any additional sanctions on Russia during the G20," an Indian official told Reuters. "The existing sanctions on Russia have had a negative impact on the world."The G20's collective hesitation over whether the war should even be called a war is a significant step back from its position in November 2022. After a meeting last year hosted by Indonesia, the group released an official <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/11/16/g20-bali-leaders-declaration/" target="_blank" rel="noopener">declaration</a> calling the conflict a war. "Most members strongly condemned the war in Ukraine," the declaration on November 16 read. However, the declaration noted that some member countries held "other views and different assessments of the situation and sanctions."The meeting in Bengaluru is the first milestone in India's one-year G20 presidency. It overlaps with the first anniversary of the war, which started on February 24, 2022.

India is trying to get G20 countries to follow Putin's instruction not to refer to Russia's war in Ukraine as a 'war,' reports say

<ul><li>Apple reports first-quarter earnings on Wednesday after the market close.</li></ul><ul><li>Analysts expect Apple to exceed $100 billion in revenue for the first time ever. </li></ul><ul><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingestgest">Sign up here our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> will report first-quarter earnings on Wednesday after the closing bell in a quarter that many analysts expect to be highly robust. Analysts are predicting the tech giant to post quarterly revenue exceeding $100 billion for the first time, driven by early adopters of 5G iPhones and continued work-from-home habits.The consensus estimate is $102.76 billion in sales for the quarter ended December 31, Apple's fiscal first quarter, according to 27 analysts estimates via <a href="https://finance.yahoo.com/quote/AAPL/analysis?p=AAPL">Yahoo Finance</a>."The Street is anticipating robust results from Apple on Wednesday after the bell with Cupertino expected to handily beat Street estimates across the board," said Wedbush's Daniel Ives. Here's what 4 analysts on Wall Street except from Apple's first-quarter earnings report. <h3>JPMorgan, Price Target $150, Overweight rating </h3>Analysts led by Samik Chatterje said they're forecasting a "blockbuster beat" for Apple on Wednesday."Apple will report its first $100bn+ revenue quarter with the momentum from early adopters of 5G iPhones as well as continuing WFH tailwinds to iPad and Mac lineup; we expect above drivers to help in reporting a large beat to sell-side consensus as implied in our (likely street-high) revenue/EPS estimate of $110 bn/ $1.56 vs. consensus $102 bn/$1.41 for F1Q (Dec-end)."The analysts forecast Apple to sell 80 million iPhone units in the first quarter, which will support iPhone revenues of $66 billion. <h3>Wedbush, Price Target $175 (raised from $160), Outperform rating </h3>"Based on our Asia supply chain checks, we strongly believe the iPhone 12 supercycle hype has become a reality with this week giving the Street its first glimpse of underlying iPhone 12 demand and key commentary from Cook looking ahead into the next few quarters," Wedbush's Dan Ives said."While the Street is forecasting roughly 220 million iPhone units for FY21, we believe based on the current trajectory and in a bull case Cupertino has potential to sell north of 240 million units (~250 million could be in the cards - an eye popping figure) which would easily eclipse the previous Apple record of 231 million units sold in FY15. Importantly, with our estimation that 350 million of 950 million iPhones worldwide are currently in the window of an upgrade opportunity, we believe this will translate into an unprecedented upgrade cycle for Cook &amp; Co. and represents a "sweep the leg" moment against the lingering bear camp." Read more: <a href="https://www.businessinsider.com/spac-investing-strategy-3-blank-check-firm-picks-spcx-etf-2021-1">This actively-managed SPAC ETF amassed $60 million assets within a month of launching. Its founder breaks down how to pick blank-check firms - and shares 3 to watch in 2021</a><h3>Goldman Sachs, Price Target $80, Sell Rating</h3>"We believe the shift of consumer disposable income toward vacations, restaurants, and other outside of the home spending as re-opening occurs is likely to act as a negative catalyst for Apple's stock just as COVID lockdowns represented a tailwind," said Goldman analysts led by Rod Hall."We forecast revenue of $105.3bn (FactSet consensus $102.2bn), gross margin of 38.2% (consensus 38.1%), EBIT margin of 27.9% (consensus 27.6%) and EPS of $1.45 (consensus $1.40)."<h3>CFRA Research, Price Target $160 (raised from $145), Buy opinion </h3>"We are upping our iPhone estimates for the Dec-Q/Mar-Q as well as for FY 21 and FY 22, as we believe AAPL's 5G devices and pent-up demand in China is spurring better than expected sales. Momentum for iPads and Macs are tracking ahead of expectations and appear as if they could persist through at least the first half, while wearables should see 20% plus growth ahead. We expect Services growth of 14%-15% in the Dec-Q and Mar-Q, but comparisons will get tough as the segment laps pandemic figures," said Angelo Zino of CFRA.

'Forecast blockbuster beat: Here's what 4 Wall Street analysts expect from Apple's 1st-quarter earnings report

China, the biggest telecom market basis subscribers, has begun trials for 5G telecommunication in nearly 100 urban areas, in a bid to lead the next generation tech. 
 
High-speed 5G networks can transmit information 20 times faster than current 4G speed, with short of what one tenth of the inertness, , or the time for a data request to receive a reply. 
 The 5G advancements being tried incorporate enormous numerous radio wire frameworks equipped for taking care of more clients and expanded ability to bolster more data use, Hong Kong-based South <keyword id="2093499" type="UNKNOWN" weightage="20" keywordseo="China-Morning-Post">China Morning Post</keyword> cited <keyword id="261103" type="COMPANY" weightage="20" keywordseo="Bernstein-Research">Bernstein Research</keyword> report as saying. 
 With the world's largest 4G market at 1.3 billion users at the end of 2015 it is on sufficient scale to "make or break" a new global 5G standard Bernstein's senior analyst <keyword id="1841588" type="UNKNOWN" weightage="20" keywordseo="Chris-Lane">Chris Lane</keyword> said. 
 Just about 30% of China's 1.3 billion cellular telephone clients are on 4G network, as indicated by the <keyword id="182425" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Industry-and-Information-Technology">Ministry of Industry and Information Technology</keyword> (MIIT), which directs the division. 
 
Rapid 5G systems can accomplish hypothetical speed at up to 20 gigabits for each second, much quicker than the present fourth generation of 1 Gbps. 
 
Latency, or the time required for a solicitation for information to get an answer while clicking an application, is imagined to be one millisecond or less on 5G, contrasted and 10 milliseconds on 4G. 
 The <keyword id="455941" type="ORGANIZATION" weightage="20" keywordseo="International-Telecommunications-Union">International Telecommunications Union</keyword>, part of the <keyword id="6355833" type="ORGANIZATION" weightage="20" keywordseo="united-nations">United Nations</keyword>, anticipates that system organizations will start in 2020 not long after the principles are set for 5G, in fact known as IMT-2020. 
 
The consensus among global telecoms industry leaders is that a single standard - a unified set of industry benchmarks - would be enormously beneficial. 
 "The cost of having different standards is high for the industry," said Wang Zhiqin, director of the <keyword id="3720685" type="UNKNOWN" weightage="20" keywordseo="institute-of-communications-standards-research">Institute of Communications Standards Research</keyword> at the China Academy of Information &amp; Communications Technology said during the <keyword id="3720686" type="UNKNOWN" weightage="20" keywordseo="innotech-expo">InnoTech Expo</keyword> in <keyword id="24349" type="COMPANY" weightage="20" keywordseo="Hong-Kong">Hong Kong</keyword>. 
 David Dai Shu, spokesman for Shenzhen-based telecommunications equipment maker <keyword id="6359151" type="CITY" weightage="20" keywordseo="ZTE">ZTE</keyword>, state-run <keyword id="133270" type="CITY" weightage="20" keywordseo="China-Mobile">China Mobile</keyword> smartphone manufacturers is the largest in the world in terms of subscribers and revenue alone was planning "pre-5G trials in more than 100 cities across more than 20 provinces." 
 The other two government possessed firms, <keyword id="133269" type="CITY" weightage="20" keywordseo="China-Unicom">China Unicom</keyword> and state-run <keyword id="154965" type="CITY" weightage="20" keywordseo="China-Telecom">China Telecom</keyword> may likewise be attempted some readiness, Dai said, including that <keyword id="152009" type="COMPANY" weightage="20" keywordseo="Unicom">Unicom</keyword> had consented to a collaboration arrangement with ZTE in August related to 5G research. 
 
China Mobile has said previously that it plans to roll out its 5G network service in 2020.

Still talking about 4G? China has begun 5G trial runs

Issues related to crypto assets require immediate attention and the response of the G20 has to ensure that they do not lose any potential benefits while protecting economies from harm, Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> has said. <keyword id="679937" type="General" weightage="100" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> was part of a brainstorming session on "Macrofinancial Implications of Crypto Assets" with G20 finance ministers and central bank governors at the IMF's headquarters here on Friday. India currently holds the rotating annual presidency of G20 countries. Issues related to crypto have emerged as a major point of discussion among G20 countries and there is unanimity among member nations about the urgency to regulate this sector. The brainstorming session was attended by global experts on this issue. In her remarks, Sitharaman said the G20 acknowledges the work of the International Monetary Fund (IMF) and the <keyword id="112428" type="General" weightage="80" keywordseo="financial-stability-board" source="Orion">Financial Stability Board</keyword> (FSB) in bringing out key elements of policy and regulatory framework. She also said a synthesis paper, which would integrate macroeconomic and regulatory perspectives of crypto assets, is required. The minister noted that there was consensus among G20 members to have a globally coordinated policy response on crypto assets that takes into consideration the full range of risks, including those specific to emerging markets and developing economies. Earlier this week, Sitharaman had said that India's G20 Presidency aims to develop a common framework for all countries to deal with risks associated with cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. The last year episode of FTX's bankruptcy, and its spat with Binance triggered a huge sell-off in the market and reduced liquidity. This event made the world realise the vulnerability of this asset class as they do not have any underlying value. "Cryptocurrencies are a very important part of the discussion under the #G20India presidency, given so many collapses and shocks in cryptocurrencies. We seek to develop a common framework for all countries to deal with this matter," she had said at a discussion at Peterson Institute for International Economics here. According to the chair's summary released at the end of the two-day meeting of the first Finance Ministers and Central Bank Governors (FMCBG) held in February, the grouping will be looking forward to the IMF-FSB Synthesis Paper on crypto assets. "I am glad to say one thing: there is almost a clear understanding that anything outside the central bank is not a currency. And this is a position that India has been taking for a very long time and we are glad that such a position of India is now also getting acknowledgement from so many different members. People recognise that the technology is very useful for fintech," she had said after the conclusion of FMCBG. Further, in July, the FSB's paper on crypto assets regulation will be tabled so that it could be discussed at the next meeting of the finance ministers and central bank governors. The International Monetary Fund-Financial Stability Board (IMF-FSB) synthesis paper will be submitted in September, she added. Despite the rapid evolution of the crypto universe, there is no comprehensive global policy framework for crypto assets. Given the concerns over greater interconnectedness between crypto assets and the traditional financial sector as well as the complexity and volatility around crypto assets, policymakers are calling for tighter regulation. The global standard-setting bodies, such as the Financial Action Task Force (FATF), Financial Stability Board (FSB), Committee on Payments and Market Infrastructures (CPMI), International Organization of Securities Commissions (IOSCO) and Basel Committee on Banking Supervision (BCBS), have been coordinating the regulatory agenda while working within their respective institutional mandates. India hopes to broaden the G20 discussion on crypto assets beyond financial integrity concerns and capture the macroeconomic implications and widespread crypto adoption in the economy. This will require a data-based and informed approach to the global challenges and opportunities of crypto assets, allowing G20 members to shape a coordinated and comprehensive policy response. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-finally-focuses-on-affordable-electric-scooters-after-losing-its-lead-to-ola-electric-and-tvs-motor/articleshow/99456189.cms">Ather finally focuses on affordable electric scooters after losing its lead to Ola Electric and TVS Motor</a> <a href="https://www.businessinsider.in/tech/news/17-of-people-store-financial-information-on-their-smartphones/articleshow/99426637.cms">Despite a rise in financial frauds, 17% of people store financial information on their smartphones</a> <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a>

Crypto issue requires immediate attention, says FM Sitharaman

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Damir SagoljMembers of military band sing during the military parade marking the 70th anniversary of the end of World War Two, in Beijing, China, September 3, 2015.</div></div></div>Good morning! Here's what you need to know. Markets brace for big data dump from the US. Markets will move on new unemployment data from the US at 12:30 p.m. (7:30 a.m. ET). Non-farm payroll data will be published, as well as an updated unemployment rate. The analyst consensus is a 0.1% drop to 5.2%.G20 finance ministers and central bankers meet in Turkey. Turkish President Tayyip Erdogan said he had asked them to prepare strategies to boost global growth.<a href="http://www.businessinsider.com/r-g20-finance-ministers-meet-in-turkey-as-china-casts-clouds-over-growth-2015-9"> Meanwhile Japanese finance minister said it was time to have a "frank debate" about China's slowing growth.</a>Asian shares rose slightly overnight. <a href="http://www.businessinsider.com/r-asian-shares-win-reprieve-on-esb-signal-us-jobs-next-focus-2015-9">MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent while Japan's Nikkei also ticked up 0.1 percent.</a> The Chinese markets are still closed for a national holiday. There are rumours that Brazil's finance minister is about to step down. Joaquin Levy, Brazil's finance minister, canceled a planned trip to the G20 meeting in Turkey and went into a closed-doors meeting with Rousseff, <a href="http://www.businessinsider.com/afp-brazil-economy-minister-rumors-add-to-jitters-2015-9">before leaving without comment.</a>German factory order figures are coming. At 7 a.m. <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> time (2 a.m. ET) Germany's Bundesbank publishes data on factory orders. for last month . The market consensus is for a 0.5% decline.France publishes consumer confidence figures. The French economy is a concern at the heart of the Eurozone. Data on consumer confidence for August is published at 7:45a.m. (2:45 a.m. ET) today.Crunch UN talks on climate change enter their final day. Diplomats have lamented the "snail's pace" of this week's haggle in Bonn, <a href="http://www.businessinsider.com/afp-crunch-un-climate-talks-enter-fraught-final-day-2015-9">accusing one another of rehashing well-rehearsed positions and holding up the real work of line-by-line text bartering.</a>Hong Kong's PMI guauge just slumped to its lowest since 2009. <a href="http://www.businessinsider.com.au/we-just-got-some-nasty-data-out-of-hong-kong-that-points-to-chinas-weakness-2015-9">The measure of private sector business conditions in Hong Kong came out at 44.4, its lowest since April 2009.</a> Anything under 50 signals a contraction.China's coal imports collapsed. Figures published show China imported 9.7 million tonnes of thermal coal in the year upt to July, a massive 24.6% decline on the year earlier. <a href="http://www.businessinsider.com.au/chinese-coal-imports-are-collapsing-2015-9">Slowing growth and pollution concerns are to blame.</a>Boeing books a huge plane order from UK airline Jet2.com. The US aircraft maker said Jet2.com ordered 27 of its 737-800 planes, worth about $2.6 billion at list prices, according to Reuters. <a href="http://www.businessinsider.com/r-boeing-books-26-billion-order-from-jet2com-2015-9">The move will boost Jet2.com's fleet to 87 aircraft.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/50-cent-lifestyle-illusion-testifies-court-bankruptcy-curtis-jackson-2015-7">50 Cent testifies his lifestyle is an illusion</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BoeGRmdjoMc4sxqQrQiRAH_i98W5p0IW" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before European markets open

<ul class="summary-list"><li>US stocks opened higher Tuesday as fresh signs of slowing inflation raised hopes for a less hawkish Fed. </li><li>The producer price index rose 0.2% in October from the prior month, below the consensus estimate for a 0.4% gain.</li></ul>US stocks opened higher Tuesday as fresh signs of slowing inflation raised hopes for a less hawkish Federal Reserve. The producer price index, a measure of wholesale inflation, rose 0.2% in October from the prior month, below the consensus estimate for a 0.4% gain. On an annual basis, the PPI rose 8% in October, down from 8.5% a month earlier. The report follows a similarly cooler-than-expected consumer price index last week. Investors are bumping equities bets on hopes that the inflation data will give the Federal Reserve enough reason to slow its pace of rate hikes. Meanwhile, the meeting between President Joe Biden and China's Xi Jinping at the G20 summit added to optimisim of more stable ties between the world's two largest economies. Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,024.50, up 1.70%</li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 33,948.36, up 1.23% (403.23 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 11,479.35, up 2.53%</li></ul>Here's what else is going on today: <ul><li><a href="https://markets.businessinsider.com/news/commodities/russian-oil-exports-october-energy-crude-eu-ban-sanctions-moscow-2022-11">Russia's oil exports grew last month</a>, but more than 1 million barrels a day will soon be banned by the European Union, the IEA said. </li><li><a href="https://markets.businessinsider.com/news/currencies/citadel-boss-griffin-fed-interest-rate-hike-pace-inflation-recession-2022-11">Citadel's Ken Griffin</a> said the Federal Reserve has to stay aggressive with rate hikes. </li><li><a href="https://markets.businessinsider.com/news/currencies/ftx-crash-sbf-crypto-stop-fighting-twitter-skybridge-anthony-scaramucci-2022-11">Anthony Scaramucci</a> thinks crypto heavyweights need to stop bickering on Twitter. </li></ul>In commodities, bonds, and bitcoin:<ul><li>Oil prices fell, with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> down 0.77% to $85.19 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 0.72% to $92.45 a barrel.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> ticked up 0.23% to $1,775.20 per ounce.</li><li>The <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">10-year Treasury yield</a> fell by 5.5 basis points to 3.812%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> gained 0.40% to $16,917.60.</li></ul>

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