UK officially joins Asia-Pacific trade bloc CPTPP

London, (IANS): The U.K. officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Sunday, becoming the first European nation to join the Asia-Pacific trade bloc. The 12-country landmark trade agreement is expected to boost the British economy by 2 billion pounds (about 2.52 billion U.S. dollars) annually in the long term, according to the Department for Business and Trade, Xinhua news agency. The department noted on its website that the UK's accession to CPTPP is a cornerstone of the government's Plan for Change, which aims to deliver economic growth and increase household incomes. The plan is projected to raise household wages by 1 billion pounds (1.26 billion dollars) annually while benefiting all regions of the country. "Agreements like this boost trade and create opportunities for UK companies abroad, supporting jobs, raising wages, and driving investment across the country," said British Business and Trade Secretary Jonathan Reynolds. Ian Stuart, CEO of HSBC UK, underscored the significance of the trade bloc, stating: "Since the announcement of the UK's accession in July 2023, we have seen an increase in payments between CPTPP markets and the UK, and we expect this growth to continue." The UK will enter into the agreement with eight of the bloc’s 11 existing members who first ratified the accession on Sunday – Japan, Singapore, Chile, New Zealand, Vietnam, Peru, Malaysia and Brunei. It will then, on Christmas Eve, enter into force with Australia, who later ratified the deal. Canada and Mexico are yet to finally rubber-stamp the UK’s membership, but it is understood that officials expect them to do so at some point in the future. It is expected that the CPTPP will get larger in the coming years, and last month it was announced Costa Rica would be the next country to work through the process of joining. The deal will offer UK firms lower tariffs and fewer barriers when trading across three continents, with financial services, manufacturing and food and drink sectors set to benefit. UK officially joins Asia-Pacific trade bloc CPTPP | MorungExpress | morungexpress.com

Read More........ → December 16, 2024

Ericsson wins multi-billion 4G, 5G deal from Bharti Airtel for India ops

New Delhi, (IANS): Telecommunications giant Ericsson on Wednesday said it has been awarded a multi-billion, 4G and 5G extension deal by Bharti Airtel for its India operations.

As part of the multi-year deal for 4G and 5G RAN products and solutions, Ericsson will deploy centralised RAN and Open RAN-ready solutions for network transformation, which will help customers with wider coverage and the enhanced capacity on the network.

Ericsson will also undertake the software upgrade of its current deployed 4G radios thereby enhancing the customer experience, it said in a statement.

“This deployment will enable us to further improve the speed, reliability, and coverage of our network, ensuring an exceptional experience for our customers,” said Randeep Sekhon, CTO, Bharti Airtel.

As a global leader in 5G, Ericsson currently powers 170 live 5G networks in more than 70 countries. The company has been a trusted connectivity partner for Airtel for over 25 years, supporting every generation of mobile communications.

Andres Vicente, Head of Ericsson South-east Asia, Oceania and India, said that this partnership extension reflects our shared vision to build a robust 4G and 5G infrastructure for Bharti Airtel to serve the connectivity needs of its customer base – “including the new 5G use cases as they emerge. We will work closely with Bharti Airtel to deliver great user experiences for their customers.”

This partnership also underscores Ericsson and Airtel's shared commitment to building an advanced digital ecosystem in India.

According to the latest Ericsson Mobility report, 5G subscriptions in India are projected to reach around 970 million by the end of 2030, accounting for 74 per cent of mobile subscriptions.

The 5G subscription are projected to reach over 270 million by the end of this year, accounting for 23 per cent of the total mobile subscriptions in the region, according to the report, adding that India has the highest average monthly usage per smartphone at 32 GB, which is expected to grow to 66 GB by 2030.India has made large-scale mid-band deployments and is expected to reach around 95 per cent population coverage by the end of 2024.Ericsson wins multi-billion 4G, 5G deal from Bharti Airtel for India ops | MorungExpress | morungexpress.com

Read More........ → December 13, 2024