AUSTRALIA DATA CENTRE
India’s Russian fossil fuel imports hit record €6.4 billion in October: CREA
India was the world’s second-largest buyer of Russian fossil fuels in October, with purchases hitting a record €6.4 billion, according to CREA, as crude oil imports rose across major Indian refineries. Higher global oil prices also lifted Russia’s overall fossil-fuel export revenues to their highest monthly level since December 2022, despite Western sanctions and price caps.
What is ASEAN and why does the bloc matter amid global tensions?
Major powers will join a summit next week of Southeast Asian nations hosted by the Philippines against one of the most complex backdrops for the regional bloc, from the Iran war that has battered economies to the growing US-China rivalry.
OpenAI brings local inference to India, starting with GPT-6 Luna
OpenAI has launched local processing for its API in India aimed at eligible enterprises and developers. This offering allows organisations to run supported AI workloads within the country, ensuring data processing remains local. The service initially supports the GPT-6 Luna model and facilitates text-based tasks for businesses.
India may open doors to multinational pharma firms for first-in-human Phase I trials
India is considering modifications to its pharmaceutical regulatory framework to attract multinational companies for clinical trials. Discussions have commenced regarding allowing these companies to conduct Phase I trials in India. Authorities aim to enhance India's appeal for global drug innovation and development. Strengthening manufacturing compliance over the last two years has also been part of the plan.
US-China AI race could face financial setbacks, mass layoffs over next three years: Report
The report highlighted, the global artificial intelligence (AI) race is increasingly becoming a contest between China's state-led approach and the US market-driven model.
Quantum could solve AI energy drain, says tech founder
Quantum computers could curb the vast energy demands of artificial intelligence data centres with their ability to run complex calculations, one of the tech's pioneers told AFP. Australian startup Diraq is conducting the first field test worldwide putting a small quantum computer based on a silicon chip in a commercial data centre in Sydney. Diraq's computer installed in Equinix's Sydney data centre has eight quantum bits, or qubits, on a silicon chip.
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Australia to adopt 'mandatory' AI safeguards
Artificial intelligence companies will have to abide by new "mandatory" safeguards when operating in Australia, Prime Minister Anthony Albanese said Tuesday. With immense renewable energy potential and vast stretches of uninhabited land, Australia has billed itself as a prime location for the data centres needed to power artificial intelligence.
India's net-zero transition aim by 2070 offers $22.7 tn investment opportunity for global capital
India's push to achieve net-zero emissions by 2070 could unlock a $22.7 trillion investment opportunity across renewable energy, power grids, battery storage, green hydrogen and clean technologies, according to a report by Australian economist Nicki Hutley. The report estimates a $6.5 trillion funding gap, which will require international capital to bridge.
Tech firms claw back some losses after midterms rout, eyes on Nvidia
Tech firms rose Monday to claw back some of last week's painful losses fuelled by AI regulation worries, though traders were keeping a wary eye on a probe into Nvidia boss Jensen Huang amid claims of an affair with a Chinese spy. The executive, Alice Huang -- also known as Huang Le, and no relation to 63-year-old Taiwanese-born Jensen -- developed a close relationship with the Nvidia boss, the Times said.
Investors in other markets would be envious of India multiples: Rich Handler, chief executive of Jefferies
Jefferies CEO Rich Handler believes Indian equities remain reasonably valued despite the market correction and says easing long-term capital gains taxes could attract foreign investors. He sees opportunities in India's AI and data centre sectors, argues that global capital outflows reflect external pressures, and believes concerns about an AI bubble warrant a healthy pause rather than alarm.
D-Street braces for gap-down opening on negative GIFT Nifty cues
On Thursday, the Nifty index exceeded 24,000 for the first time in nearly two months. This rise was supported by falling crude oil prices and substantial foreign institutional investments. Analysts expect Indian equities to maintain a positive trend as the festive season approaches. The rupee also appreciated slightly against the US dollar due to robust foreign fund inflows. Overall, the market outlook remains optimistic despite fluctuating conditions.
Australia data centre inquiry finds inadequate checks, stops short of moratorium
An inquiry into data centres by Australia's most populous state found approvals failed to consider the cumulative effect on resources and infrastructure but stopped short of calling for a moratorium, prompting a blistering rebuke from its chair.
Middle class spending boom in India comes with growing debt bill
Consumer borrowing in India has surged significantly as access to credit has expanded across the population. Individuals like Navjot Singh illustrate the financial burdens incurred from loans that have become widespread among the populace. As interest rates increase, many consumers face a heightened risk of default on their debts. Reports show that borrowing against gold and informal loans has also intensified in recent years.
Forget solar and wind: India bets on heat buried deep underground for round-the-clock clean electricity; here's the big plan
India is stepping up efforts to tap its estimated 10.6 GW geothermal energy potential, with its first two geothermal wells commissioned in Ladakh's Puga Valley in July 2026. The government is also supporting pilot projects across Gujarat, Arunachal Pradesh and Telangana, while its 2025 National Geothermal Energy Policy aims to promote research, technology development and private investment in the sector.
Law firms draft special teams to help GCCs navigate India terrain
Multinational companies expanding their global capability centres in India may face multiple regulatory and operational challenges going forward. Law firms are forming specialist teams to help these companies navigate complex issues including employment laws and data localisation.
Is the AI boom losing steam? Global economy faces growing risks
Global financial markets face mounting pressure from geopolitical conflicts, rising government debt and trade tensions, raising concerns about the resilience of the global economy. While the AI investment boom has driven stock markets to record highs and supported growth expectations, rising borrowing costs, inflation, weakening currencies and the prolonged Iran war threaten to undermine investor confidence and expose deeper vulnerabilities.
STT Global’s India biz on the block; micro occasions power qcomm
KKR, Singtel, and the Tatas are preparing to sell STT GDC India, a major data centre platform. This and more in today’s ETtech Top 5.
Dollar rangebound ahead of US midterms; bitcoin reels from crypto heist
Major currencies remained steady as traders evaluated the upcoming US midterm elections and significant economic data. Bitcoin and Ether experienced losses after a major security breach at Binance, raising investor concerns. The euro hovered near a 17-month low following Fitch's revision of France's outlook to negative. Hedge funds reportedly faced significant losses that could limit market reactions to election results.
KKR, Singtel and Tata Communications put data centre company STT GDC India up for sale at over $5.5 billion
In a significant move, KKR, Singtel, and Tata Communications are gearing up to offload STT Global Data Centres India, anticipating a valuation that could surpass $5.5 billion. This initiative underscores their intent to bolster capital and refine strategic objectives. With 34 data centres in operation, STT GDC India stands as a leading co-location service provider, well-poised to capitalize on the escalating appetite for data infrastructure amidst evolving tech trends.
Global Market Today: Asian shares bend under AI stress; Apple earnings loom
Concerns about negative cash flow and the sheer scale of AI capex saw the cost of insuring against corporate defaults blow out last week, while gold hit a one-year low amid talk stressed investors were selling to raise money for margin calls.
Australian outback data centre pulls timeline after regulator stalls
Startup Energy North, which says it has finance lined up for a sprawling gas and solar-powered data centre on a cattle ranch in the country's remote north, 683 km (424 miles) from the nearest city, had given a "first power" date of June 28, 2028, in regulatory filings four months ago.
Adani Ports makes $3.3 billion play for Evos Terminals
Adani Ports has submitted a binding $3.3 billion bid for Evos Terminals, a European liquid-storage operator with eight terminals across five countries, as it looks to expand overseas and build exposure to energy-transition infrastructure. The move follows APSEZ’s unsuccessful bid for Associated British Ports and reflects a broader push into global ports, container assets and liquid terminals.
Australia's new biometric rule for Indian visa applicants: Who will have to comply? High Commission clarifies
Australian High Commission in India has exclusively mentioned that Australia’s expanded biometric requirements will cover most temporary and permanent visa applicants in India, including visitor, student, skilled-worker and permanent-migration applicants, while the requirement will be determined by individual circumstances; Indian officials travelling on official business are exempt.
Australia's corporate regulator probing failed $5 billion Firmus IPO
Australia's corporate regulator said on Thursday it was probing the failed $5 billion initial public offering of AI data centre operator Firmus.
China is back in the bull semen market, but only the best will do
China has resumed imports of bull semen from Australia and Canada as it seeks to improve cattle genetics, increase beef production and boost dairy yields. Under stricter rules, imports must come from bulls ranked among the top 10% in their country of origin. The move follows years of trade restrictions that disrupted supplies and pushed some Chinese producers towards smuggled livestock genetics.
US courting Reliance's refining muscle to keep oil flowing, not curb Russian crude, analyst says
Marco Rubio's recent visit to Jamnagar emphasizes strengthening energy ties between the US and Reliance Industries. With a capacity of 1.4 million barrels per day, Jamnagar plays a crucial role in global diesel exports. The US seeks to stabilize energy flows while urging India to diversify away from Russian oil. Reliance is also positioned to process Venezuelan crude, enhancing Washington's interests in the region.
Cognizant to buy Australia's DyFlex in its 3rd deal of 2026
Cognizant Technology Solutions has signed an agreement to acquire DyFlex Solutions, enhancing its AI and SAP capabilities. This acquisition is expected to close in the first quarter of 2027, subject to regulatory approvals. DyFlex specializes in SAP transformation and is based in Australia and New Zealand. The deal marks Cognizant’s third acquisition in 2026 as it seeks to expand its services.
Australian agency mulled firing KPMG over data-handling rule breach, documents show
KPMG Australia breached its contract with Services Australia by transferring sensitive material outside the secure government environment, prompting consideration of termination of their engagement. Although no data breach occurred, Services Australia has not awarded new audit work to KPMG since the incident, which raised significant concerns about the firm's trustworthiness and compliance with data protocols.
ETtech Explainer: How a flaw in PHP, the code behind 70% of websites, sent governments offline
Since PHP powers 70% of the world’s websites, the vulnerabilities can allow unauthenticated attackers to execute code on affected servers or read sensitive process memory, which may contain passwords, authentication tokens, API keys and certificates belonging to other requests or the server itself, as per Wiz Research.
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