CEO Financial News

The two FS giants worked with Standard Chartered-owned Hong Kong digital bank Mox and asset tokenisation tech firm Libeara on the PoC, which took place on the Hong Kong Monetary Authority's Fintech Supervisory Sandbox.It saw the first live test of the Mastercard Multi-Token Network (MTN) used for a test scenario where a Mox client wants to buy a carbon credit to offset personal carbon usage and deposit the funds for this in their bank account.In the pilot, Mox requests Standard Chartered tokenise the desired carbon credit using Libeara. Then, through the Mastercard MTN, the client’s deposit is also tokenised and an atomic swap is initiated between the two instruments.

A bipartisan group of four senators led by Majority Leader Chuck Schumer is recommending that Congress spend at least $32 billion over the next three years to develop artificial intelligence and put safeguards around it

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Seattle Times publisher and CEO Frank Blethen has announced he will step down at the end of next year, after four decades leading the newspaper his family has owned since 1896

One of the original creators of the artificial intelligence technology behind ChatGPT says he is leaving the company after a nearly decade

The head of Brazil’s Petrobras is stepping down after a fight over dividends, sending shares of the state-controlled oil and gas giant tumbling

Avendus Wealth Management has appointed Apurva Sahijwani as its managing director and CEO. Sahijwani will lead the seasoned wealth team and leverage the entire Avendus platform, with unique understanding of value creation, to advise clients holistically, according to a press release by the financial services firm.

The DOL’s fiduciary rule is facing a fresh challenge in the legislature as a bicameral group of senators and house representatives seek to overturn it.

Karachi...," Kamal, a leader of Muttahida Quami Movement Pakistan (MQM-P), said in his speech. The MQM-P leader posted a video of his speech during Pakistan's National Assembly session on Facebook on Wednesday. WATCH VIDEO HERE: Mustafa Kamal said this in reference to the successful Chandrayaan-3 mission launched by India in August last year.

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Audio electronics brand GOVO targets to be a Rs 1,000 crore entity by FY2027-28, a top official of the company said on Wednesday. The Bengaluru-based audio electronics brand, established in 2022, clocked a revenue of Rs 100 crore in FY2023-24, GOVO CEO and Co-founder Varun Poddar said. «So in FY24, we closed at around Rs 100 crore and we grew around six times, seven times from what we were last year and our goal for the next three years is to go to a thousand crore top line with a 15 per cent to 20 per cent market share. In FY27-28, we are targeting to be a thousand crore company,» he told PTI in an interaction. When asked about factors fueling growth, he said that the company plans to expand the category, increase its market share and go for premiumisation in the category.

JetSynthesys announces the appointment of Raj Thadani as CEO of its joint venture (JV) with Digital Hearts Holdings (DHH), a Japanese holding company listed on the Tokyo Stock Exchange. In his capacity, Thadani will spearhead strategic initiatives, drawing on DHH’s expertise to bolster India’s gaming supply chain pipeline.

Ford Motor Co is reportedly losing whopping $100,000 per every electric vehicle. According to Bloomberg, Ford has begun cutting orders from battery suppliers to stem the losses. Quoting officials, Bloomberg reported that the company «have slashed thousands in costs from their EVs to try to make them profitable, but they’ve also had to slash prices to remain competitive against market leader Tesla Inc., which has aggressively discounted its models».

Ontario is planning to bring in a series of new measures for those found guilty of impaired driving in the province, including ignition interlock devices and lifetime driving bans.

Ramji, who will step into the role on 8 July, brings over 25 years of experience in investments, capital markets and wealth management, including over ten years spent at BlackRock, most recently as its global head of iShares and index investing. Prior to that, he served as the firm's head of US wealth advisory, having joined the company as global head of corporate strategy in 2014. Ramji held a senior partner role at McKinsey, where he was in charge of the firm's asset and wealth management practice.  Vanguard names head of Europe as Sean Hagerty relocates to US headquarters He wil...

The Securities Commission Malaysia (SC), the country’s regulator, has approved the trading of the Worldcoin (WLD) token on digital asset exchanges recognized by the SC.

“Not very sure how GDP numbers are coming," Syngle said pointing out that that the numbers being talked about “do not seem to correlate to core sectors". He was answering investor questions on May 9. “You are correct that the GDP correlation has really gone for a toss, in the current year.

Hamied family that founded Cipla are set to offload shares via block deals, said people aware of the matter, eight months after promoter-stake-sale talks with Torrent Pharma collapsed. A stake of up to 2.53% will be sold for an estimated Rs 2,637 crore by MK Hamied’s wife Shirin and their daughters Samina and Rumana along with Okasa Pharma, another promoter group entity, they said. The deals are likely to happen as early as Wednesday, they said. The move, days after the company posted its best annual results, has triggered speculation that more such transactions could be in the offing. The collapse of the $7 billion sale last year after lengthy negotiations had reportedly led to divisions within the family, according to people with knowledge of the matter. The three persons cited above hold 4.24% of Cipla while Osaka Pharma owns a 0.02% stake. They are offering to sell up to 20.45 million shares at Rs 1,289.50-1,357.35 apiece, translating to a total deal value of about Rs 2,637 crore ($316 million). That’s a discount of 0-5% to Cipla's closing price of Rs 1,357.35 on the NSE on Tuesday. There will be a post-sale, 90-day lock-in period, said the people cited.

Brookfield Asset Management Ltd. and Qatar’s sovereign wealth fund continue to explore investment opportunities in China even as some other investors pull back from the world’s second-largest economy.

Delhi-NCR's red-hot real estate market, even a ₹5 crore budget may not guarantee a home in a brand-new project of a reputed developer in a prime locality. With homes priced at ₹6 crore and above getting sold out within hours of launch, developers are not keen on launching smaller sized apartments, forcing end users to wait for the current uptick in the market to stabilise. The trend is also worrying industry experts as it is giving rise to speculative buying which might eventually cause a bubble in the property market. «In the last 18 months, prices have almost doubled in the majority of the micro-markets in NCR and developers are also not launching smaller sized apartments. Both the factors have taken away the opportunity for middle class buyers to own a home in the current situation. While the per sq ft prices may not come down, developers may have to reduce size to offer something in below ₹5 crore category,» said an industry expert.

Indian airlines to get more business from global firms such as Airbus and Boeing. And they also want a helping hand from the government through a policy push. «We have to be in line with what our procurement of aircraft is. If India has a 10% share of the order book, it should also have a 10% procurement share — it's a fair ask,» said Aravind Melligeri, chairman of components maker Aequs Aerospace, which is one of the top suppliers to Airbus. IndiGo, Air India and Akasa currently have an order book of close to 1,700 aircraft from Airbus and Boeing, aviation consultancy firm CAPA said. That will increase to as much as 2,000 by March 2025.