Latest news with #InnovationHub
Yahoo
4 days ago
- Business
- Yahoo
Microsoft Commits $400 Million to Expand Swiss AI and Cloud Infrastructure
Microsoft (MSFT, Financials) announced a $400 million investment to expand its artificial intelligence and cloud infrastructure in Switzerland. The company said the funding will support data center upgrades near Zurich and Geneva, helping meet rising demand for AI services across regulated industries such as healthcare, finance, and government. Microsoft noted that over 50,000 existing customers will benefit from the expansion, which also aims to support new organizations while ensuring data remains within Swiss borders. Warning! GuruFocus has detected 4 Warning Sign with MSFT. According to Microsoft, local demand for Azure OpenAI services has surged since mid-2023, and Switzerland now ranks second globally in GitHub AI contributor share. The company said 31% of Microsoft users in Switzerland engaged with AI tools in the past six months, a three-percentage-point increase, highlighting growing adoption across the region. UBS, one of the world's largest banks, is among the institutions relying on Microsoft's locally compliant infrastructure. Microsoft said the investment extends its long-standing commitment to Switzerland's digital future, which includes launching local data centers in 2019 and opening the Microsoft Innovation Hub in 2022. The initiative is also part of Microsoft's broader European Digital Commitments, focused on supporting open source, cybersecurity, digital resilience, and AI governance. The company said it will deepen partnerships with Switzerland Innovation Parks to accelerate the commercialization of AI research and industrial applications. Since 2019, Microsoft has provided more than CHF 30 million in technology resources to over 1,500 startups through its Swiss AI Tech Accelerator and other programs, helping generate over 11,000 jobs. The next cohort for the AI accelerator is scheduled for fall 2025. As part of its national AI skilling initiative, Microsoft said it plans to train one million people in Switzerland by 2027. The effort will target students, educators, industry workers, and nonprofit organizations, and will be conducted in collaboration with institutions such as FH Schweiz and organizations like Innovate Switzerland and the CyberPeace Institute. Microsoft also plans to support global AI policy and governance efforts through its partnerships in International Geneva, working with the United Nations and other multilateral organizations to promote responsible AI and deliver training and humanitarian solutions. The company is involved in AI-related programs with agencies such as UNHCR, IOM, OHCHR, and IFRC, and is contributing to cybersecurity and AI governance initiatives with the CyberPeace Institute and the International Telecommunication Union. In terms of sustainability, Microsoft said its Swiss operations are fully powered by renewable energy. The company also signed a six-year, 27,600-ton biogenic carbon removal and storage agreement with Swiss firm Neustark, covering projects in Switzerland and Germany. Microsoft said these efforts align with its global goal of becoming carbon negative, water positive, and zero waste by 2030. This article first appeared on GuruFocus.
Yahoo
7 days ago
- General
- Yahoo
Laketown considers options for new beach stairs, including EZ Steps from local inventor
Laketown Township is examining multiple options for replacing a set of stairs leading to Lake Michigan, which were closed and later removed earlier this year. The municipality's Parks and Recreation Commission, according to meeting minutes from Wednesday, May 21, instructed staff to seek cost estimates for either new wooden stairs or adjustable aluminum stairs called EZ Beach Steps. EZ Beach Steps are adjustable and adaptable steps made of aluminum and PVC coating. They can be easily moved or adjusted to respond to changes in water levels or erosion along the water. They were invented by Lisa Spaugh of West Olive, who was inspired after seeing the stairs and deck at her Lake Michigan home destroyed during a storm. In her efforts to regain access to the water, Spaugh wanted something that would last. More: West Olive woman nets award for erosion-friendly EZ Beach Steps The steps earned Spaugh the title of 2023 Lakeshore Innovator of the Year from Grand Valley State University's Muskegon Innovation Hub. The Parks and Recreation Commission also asked staff on Wednesday to install fencing to protect dune grass along the path to the beach, according to a post on the township website. A set of stairs leading from the parking lot at Laketown Beach to the top of the dune remain. Volunteers from EagleEye Performance Vision of Zeeland recently helped clear those stairs of sand on Community Impact Day, according to the township. Without the other set of stairs, beach access is still possible, but more difficult. The township recommends taking the stairs up from the parking lot, then following the marked path down the bowl — a steep drop with a flat bottom amid the dune — staying on the trail and off the edges to avoid disturbing the dune and dune grass. Once at the bottom of the bowl, go over the small hill and to the lake, heeding no trespassing signs. To get back to the parking lot, visitors must walk back up through the bowl. The township advises this is 'a difficult walk' in the soft sand and there is no handrail or other assistance. The Parks and Recreation Commission is next scheduled to meet Wednesday, June 18. — Contact reporter Mitchell Boatman at mboatman@ This article originally appeared on The Holland Sentinel: Laketown Township considers options for replacing removed beach stairs
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First Post
29-05-2025
- Business
- First Post
E-rupee circulation jumps over 400% in a year, RBI explores cross-border payments
The value of e-rupee in circulation surged to Rs 1,016 crore by the end of March 2025, up from Rs 234 crore a year earlier. The RBI is also exploring central bank digital currency (CBDC) pilots for cross-border transactions and broadening its range of applications. read more According to the Reserve Bank of India, E-rupee circulation jumped over 400 per cent in ayear, from Rs 234 crores to Rs 1,016 crores by March 2025. The value of central bank digital currency (CBDC) or e-rupee in circulation jumped to Rs 1,016 crore at the end of March 2025 from Rs 234 crore in the year-ago period, the Reserve Bank said on Thursday. The RBI is exploring the commencement of CBDC pilots on cross-border payments, it said in the annual report without giving a timeline. The CBDC was first introduced in November 2022 initially with a wholesale pilot, which was followed up with a retail one as well. Simplifying cross-border payments was one of the stated advantages of the CBDC, which had to be introduced in face of the challenge to the currency system from non-fiat virtual currencies like Bitcoins. STORY CONTINUES BELOW THIS AD '…the Reserve Bank is exploring commencement of CBDC pilots on cross-border payments both on bilateral and multilateral basis to overcome key challenges related to turnaround time, efficiency and transparency,' it said. Bilateral cross-border CBDC pilots with select countries are being 'actively explored', and progress has been made in finalisation of roadmap, technical aspects and use cases, the report said. The Reserve Bank's participation in multilateral CBDC initiatives, particularly under the Bank for International Settlements (BIS) Innovation Hub, is also being considered, as per the report. The central bank also aims to further expand the scope and coverage of ongoing pilots in e-rupee-Retail and e-rupee-Wholesale by introducing new use cases and features and also improve the technological aspects of the account aggregator framework to enhance transparency, customer convenience and efficiency, it said. A bulk of Rs 857 crore of the e-rupee in circulation is in Rs 500 denomination, the annual report said, adding Rs 200 (Rs 91 crore in circulation) and Rs 100 (Rs 38 crore in circulation) denominations also have sizeable presence. Starting with the initial use cases of person-to-person (P2P) and person-to-merchant (P2M), the Reserve Bank expanded the central bank digital currency (CBDC)-Retail (e-rupee-R) pilot to include offline and programmability features in FY25, the annual report said. STORY CONTINUES BELOW THIS AD As at end-March 2025, the e-rupee retail pilot was expanded to 17 banks and 60 lakh users. To further enhance adoption and improve distribution, certain non-banks have been allowed to offer CBDC wallets. Moreover, the scope of e-rupee-Wholesale was further expanded and diversified with the addition of four standalone primary dealers (SPDs), it said. Programmability use cases include direct benefit transfers to farmers against generation of carbon credits and loans to tenant farmers under kisan credit card (KCC) in select locations, it noted, adding that employee allowances for fuel/meal purposes are also being implemented by banks. Odisha has made e-rupee payments to 88,000 beneficiaries under the Subhadra Yojana, the annual report said, adding discussions are underway with multiple central government ministries and state governments for leveraging programmability feature of CBDC to transfer funds to beneficiaries with a defined end use. (Except headline, this story has not been edited by Firstpost staff)
The Hindu
29-05-2025
- Business
- The Hindu
e-Rupee in circulation grows to ₹1,016 crore; RBI explores cross-border CBDC pilots
'The value of Central Bank Digital Currency (CBDC) or e-rupee in circulation jumped to ₹1,016 crore at the end of March 2025 from ₹234 crore in the year-ago period,' the Reserve Bank of India (RBI) said on Thursday (May 29, 2025). 'The RBI is exploring the commencement of CBDC pilots on cross-border payments,' it said in the annual report without giving a timeline. The CBDC was first introduced in November 2022 initially with a wholesale pilot, which was followed up with a retail one as well. Simplifying cross-border payments was one of the stated advantages of the CBDC, which had to be introduced in face of the challenge to the currency system from non-fiat virtual currencies such as Bitcoins. "...the Reserve Bank is exploring commencement of CBDC pilots on cross-border payments both on bilateral and multilateral basis to overcome key challenges related to turnaround time, efficiency and transparency," it said. 'Bilateral cross-border CBDC pilots with select countries are being 'actively explored', and progress has been made in finalisation of roadmap, technical aspects and use cases,' the report said. The Reserve Bank's participation in multilateral CBDC initiatives, particularly under the Bank for International Settlements (BIS) Innovation Hub, is also being considered, as per the report. 'The Central bank also aims to further expand the scope and coverage of ongoing pilots in e-Rupee-Retail and e-Rupee-Wholesale by introducing new use cases and features and also improve the technological aspects of the account aggregator framework to enhance transparency, customer convenience and efficiency,' it said. 'A bulk of ₹857 crore of the e-Rupee in circulation is in ₹500 denomination,' the annual report said, adding ₹200 (₹91 crore in circulation) and ₹100 (₹38 crore in circulation) denominations also have sizeable presence. 'Starting with the initial use cases of person-to-person (P2P) and person-to-merchant (P2M), the Reserve Bank expanded the Central Bank Digital Currency (CBDC)-Retail (e-Rupee-R) pilot to include offline and programmability features in FY25,' the annual report said. As at the end of March 2025, the e-Rupee retail pilot was expanded to 17 banks and 60 lakh users. 'To further enhance adoption and improve distribution, certain non-banks have been allowed to offer CBDC wallets. Moreover, the scope of e-Rupee-Wholesale was further expanded and diversified with the addition of four standalone primary dealers (SPDs),' it said. Programmability use cases include direct benefit transfers to farmers against generation of carbon credits and loans to tenant farmers under kisan credit card (KCC) in select locations, it noted, adding that employee allowances for fuel/meal purposes are also being implemented by banks. 'Odisha has made e-Rupee payments to 88,000 beneficiaries under the Subhadra Yojana,' the annual report said, adding that discussions are under way with multiple Central Government Ministries and State Governments for leveraging programmability feature of CBDC to transfer funds to beneficiaries with a defined end use.
Time of India
29-05-2025
- Business
- Time of India
E-rupee in circulation grows to over Rs 1,000 crore; RBI exploring cross-border CBDC pilots
The value of central bank digital currency ( CBDC ) or e-rupee in circulation jumped to Rs 1,016 crore at the end of March 2025 from Rs 234 crore in the year-ago period, the Reserve Bank said on Thursday. The RBI is exploring the commencement of CBDC pilots on cross-border payments , it said in the annual report without giving a timeline. The CBDC was first introduced in November 2022 initially with a wholesale pilot, which was followed up with a retail one as well. Simplifying cross-border payments was one of the stated advantages of the CBDC, which had to be introduced in face of the challenge to the currency system from non-fiat virtual currencies like Bitcoins. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. Investructor Undo "...the Reserve Bank is exploring commencement of CBDC pilots on cross-border payments both on bilateral and multilateral basis to overcome key challenges related to turnaround time, efficiency and transparency," it said. Bilateral cross-border CBDC pilots with select countries are being "actively explored", and progress has been made in finalisation of roadmap, technical aspects and use cases, the report said. Live Events The Reserve Bank's participation in multilateral CBDC initiatives, particularly under the Bank for International Settlements (BIS) Innovation Hub, is also being considered, as per the report. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The central bank also aims to further expand the scope and coverage of ongoing pilots in e-rupee-Retail and e-rupee-Wholesale by introducing new use cases and features and also improve the technological aspects of the account aggregator framework to enhance transparency, customer convenience and efficiency, it said. A bulk of Rs 857 crore of the e-rupee in circulation is in Rs 500 denomination, the annual report said, adding Rs 200 (Rs 91 crore in circulation) and Rs 100 (Rs 38 crore in circulation) denominations also have sizeable presence. Starting with the initial use cases of person-to-person (P2P) and person-to-merchant (P2M), the Reserve Bank expanded the central bank digital currency (CBDC)-Retail (e-rupee-R) pilot to include offline and programmability features in FY25, the annual report said. As at end-March 2025, the e-rupee retail pilot was expanded to 17 banks and 60 lakh users. To further enhance adoption and improve distribution, certain non-banks have been allowed to offer CBDC wallets. Moreover, the scope of e-rupee-Wholesale was further expanded and diversified with the addition of four standalone primary dealers (SPDs), it said. Programmability use cases include direct benefit transfers to farmers against generation of carbon credits and loans to tenant farmers under kisan credit card (KCC) in select locations, it noted, adding that employee allowances for fuel/meal purposes are also being implemented by banks. Odisha has made e-rupee payments to 88,000 beneficiaries under the Subhadra Yojana, the annual report said, adding discussions are underway with multiple central government ministries and state governments for leveraging programmability feature of CBDC to transfer funds to beneficiaries with a defined end use.
