Syrian President al-Sharaa makes landmark Visa payment as country reconnects with global financial system
A restaurant payment with a Visa card in Damascus has become a symbol of Syria’s reconnection with the global financial system....
The installation of the first fibre-optic cable across the bottom of the Caspian Sea has been completed, marking a major step in the development of a new digital corridor connecting Europe and Asia.
The Trans-Caspian Fiber-Optic Cable project, carried out by Azerbaijan’s AzerTelecom and Kazakhstan’s Kazakhtelecom, involved laying a 380-kilometre submarine cable between Sumgayit in Azerbaijan and Aktau in Kazakhstan.
A specially equipped cable-laying vessel installed the armoured fibre-optic cable along a planned route on the Caspian seabed, overcoming the technical challenge of deploying such infrastructure in the region for the first time.
The project is a key component of the Digital Silk Way initiative, launched at Azerbaijan’s initiative to establish a high-capacity digital route between Europe and Asia.
AzerTelecom Chairman Emil Masimov said the completion of the seabed installation represents an important milestone that will help enable data exchange between the two continents through the Caspian Sea.
“The project’s main technical challenge was deploying such infrastructure on the Caspian seabed for the first time,” Masimov said, adding that the completed stage would soon allow traffic exchange between Europe and Asia via the new route.
Work is continuing to connect the submarine cable with coastal infrastructure, while construction of related land-based facilities is also underway. The project is expected to become fully operational by the end of 2026.
Once operational, the Trans-Caspian Fiber-Optic Cable will provide more than 400 terabits per second of international connectivity, supporting faster data exchange and expanding digital services across the region.
The cable will form part of a wider digital route passing through Azerbaijan, Georgia, Türkiye, Kazakhstan and Bulgaria, designed to provide a shorter and more efficient connection between Europe and Asia with reduced data transmission delays.
The initiative is expected to strengthen regional digital cooperation and contribute to the development of new technology infrastructure across the countries along the route.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Rescuers in Nepal used helicopters on Thursday to scour for hundreds still missing after a wall of mud and rock collapsed into a river on the Himalayan border with China's Tibet, sending catastrophic floods through towns and valleys, killing 162 people.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Iranian President Masoud Pezeshkian has called for greater economic cooperation among Muslim countries, saying their combined economic weight remains disproportionately small compared with their population, strategic location and resources.
The inaugural Silk Road Finance & Technology Forum brought together policymakers, investors and technology companies as Central Asia looks to build a more connected financial system and compete for a bigger share of global fintech investment.
Uzbekistan's region of Karakalpakstan is developing three cryptocurrency mining facilities and three data centers with a combined investment of $5.1 billion, as the region seeks to attract larger and higher-quality investments.
A restaurant payment with a Visa card in Damascus has become a symbol of Syria’s reconnection with the global financial system.
The Silk Road Finance & Technology Forum will bring more than 6,000 policymakers, investors and technology leaders from 74 countries to Tashkent, as Central Asia seeks a bigger role in the global fintech landscape.
Kazakhstan is considering the Baku-Supsa pipeline as an alternative oil export route after Caspian Pipeline Consortium disruptions cost the country an estimated 3.5 million tonnes of oil, Energy Minister Yerlan Akkenzhenov said.
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