China Mobile has decided to buy 20% of Shanghai Pudong Development (SPD) Bank for $5.83 billion cash. Under the deal, Guangdong Mobile – China Mobile’s biggest subsidiary – will become the bank’s second largest shareholder. Guangdong Mobile has signed an MoU with SPD Bank “to closely cooperate in the joint development of mobile finance and mobile e-commerce businesses.” This Mobile-Bank partnership promises wireless finance services including mobile bank cards and payment services. The investment presents China Mobile a platform to offer wireless banking services to more than 527 million customers in the world’s fastest-growing major economy. Full rport.
Adopting AI in Sri Lanka’s public sector with vision & caution: Insights from LIRNEasia’s Merl Chandana at AI Asia Summit ’24
Artificial intelligence (AI) offers significant potential to enhance public services and drive innovation within Sri Lanka’s public sector. At the AI Asia Summit 2024 in Colombo, Merl Chandana, Research Manager and head of the Data, Algorithms, and Policy (DAP) team at LIRNEasia, shared insights on how the government can harness AI effectively and responsibly.
Software failures and public funds: Monumental coding errors explained
In the world of technology, programming errors—whether stemming from minor oversights or fundamental misunderstandings—can have catastrophic consequences. From the tragic failure of spacecraft missions to the collapse of critical infrastructures, history is filled with examples where a simple bug or miscalculation triggered massive disasters.
Aswesuma to Prajashakthi: considerations for future social protection programmes
This article was carried in the Daily Mirror on 17 October 2024 on International Eradication of Poverty Day Poverty in Sri Lanka has increased significantly with the onset of COVID-19 and the macroeconomic crisis. LIRNEasia’s national survey in 2023 highlighted that 4 million people fell into poverty between 2019 and 2023, causing 7 million individuals — or 31% of the population — to live in poverty at the time.
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