CEO Financial News

PAN card has become inoperative effective 1 July 2023. PAN is mandatory for a host of financial transactions including the opening of banks, demat accounts, and depositing of cash in a bank account. "Non-linking of PAN and Aadhaar may affect making large deposits and withdrawals or getting loans/credit cards.

Let the battle begin. Facebook parent Meta Platforms on Wednesday launched Threads, a stand-alone microblogging app that takes direct aim at Twitter as user unrest on that platform has grown since Elon Musk took the company over in October.

cryptocurrency markets were majorly trading in the red in Thursday's trade amid rising concerns of further policy tightening by the US Federal Reserve. Bitcoin (BTC) declined 0.57% to $30,631, whereas Ethereum (ETH) was just above the $1,900 level. BTC volume stood at approximately $12.97 billion, rising 18% in the last 24 hours. «After the release of the FOMC minutes, Bitcoin saw a decline in its value. However, positive remarks from the CEO of BlackRock prevented further losses, and the cryptocurrency remained stable,» Edul Patel, Co-founder and CEO at Mudrex, said. Meanwhile, CoinDCX Research Team stated, «Bitcoin is holding above the $30,500 levels after the market is awaiting a decision from the Securities and Exchange Commission (SEC) on refiling for the spot Bitcoin exchange-traded fund (ETF).»

retail merchants across India. Through its NBFC Ekagrata, MyShubhLife aims to provide PayWorld's retailers with easy access to credit for their working capital needs. Through its embedded technology, MyShubhLife will leverage the vast retailer base of PayWorld to provide merchants with flexible and affordable credit offerings.

crypto lending unit Genesis after its largest creditor Gemini — the crypto company founded by the Winklevoss twins — set Thursday afternoon as the final deadline before the company pursues litigation. The lending unit of crypto firm Genesis filed for bankruptcy in January after the collapse of key counterparties including FTX caused it to freeze customer redemptions in November. Genesis is owned by venture capital firm Digital Currency Group (DCG). Although Genesis' lending unit had initially outlined a plan to exit bankruptcy by May, it has yet to reach an agreement on a restructuring plan with creditors, to whom it owes more than $3 billion, according to court filings. Its largest creditor is Gemini, founded by billionaire identical twins Cameron and Tyler Winklevoss who are also former U.S. Olympic rowers. Gemini is seeking to recoup more than $1.1 billion.

Threads, the social media giant's new Twitter competitor, within a mere four hours of its launch. During the much-anticipated debut of his new app, Meta CEO Mark Zuckerberg, known by his handle "Zuck," took to the platform with a flurry of posts and replies while simultaneously announcing the staggering achievement of over five million user registrations for Threads, Meta's Twitter rival, within just four hours. "Just passed 5 million sign ups in the first four hours," wrote the Meta CEO.

By Katie Paul

Nicolet Bankshares thrived in the years after the financial crisis. The lender, based in Green Bay, Wis., bought up smaller banks and focused on the kinds of Midwestern cities and towns that megabanks ignored. Then came the Federal Reserve’s rapid interest-rate increases starting last year.

This 50-acre plot in Oradea, Romania, close to the border with Hungary, beat out scores of other sites in Europe to become the home of Nokian Tyres’ new 650 million-euro ($706 million) factory. Like an industrial-minded Goldilocks, the Finnish tire company had searched for the just-right combination of real estate, transport links, labor supply and pro-business environment. Yet the make-or-break feature that every host country had to have would not have even appeared on the radar a few years ago: membership in both the European Union and the North Atlantic Treaty Organisation.

Endefo, an electronics brand under the Ashtel Group of Companies, is looking to amplify its footprint beyond southern India to capture all corners of the country and eventually be a strong player in the government’s Make in India initiative. Aneef Tas, CEO of Endefo, told ET Online’s Gourab Das in an exclusive interaction that the company’s planned Rs 200 crore investment in India will go into ramping up R&D and product development in the country now, as it seeks to not only manufacture everything here for local consumption but also export products to the world. Tas also sheds light on product launches, pricing and marketing strategies.

By Rishav Chatterjee

Meta's Mark Zuckerberg delivered a blow to Elon Musk on Wednesday night, as the tech billionaires' rivalry went live with the launch of Instagram's much-anticipated Threads platform, a clone of Twitter. «Let's do this. Welcome to Threads,» Zuckerberg posted on the app, along with a fire emoji.

DBS is the first foreign bank in China to embed the CBDC into its merchant payments portfolio, processing transactions and providing consolidated merchant reports with itemised e-CNY transactions via its business banking platform DBS Ideal.Ginger Cheng, CEO of DBS Bank (China), says: "We received strong interest from several clients for the solution since its launch, and we are pleased to have completed the first e-CNY collection for a client - a catering company in Shenzhen. By seamlessly integrating a CBDC collection and settlement method into our clients’ existing payment systems, this will help position their business for a digital future where consumers in China use e-CNY for their daily activities."e-CNY usage in China has grown steadily since its pilot launch in April 2020.

Europe's Ariane 5 rocket on Wednesday blasted off from French Guiana for the final time, carrying two military communications satellites and leaving its nations with a vacuum in autonomous access to space for the first time in more than four decades. The 53-metre-tall, three-stage launcher left the launchpad in the French spaceport of Kourou on its 117th and final mission at 7 p.m.

MUMBAI : Anxious shareholders grilled the founders and the management of edtech giant Byju’s at an emergency meeting on Tuesday, seeking explanations about funds utilization, with some even demanding that founder Byju Raveendran step aside to make room for an interim chief executive officer (CEO). According to four people aware of the development, shareholders of the online tutor pressed its leadership for pro-forma financials at the extraordinary general meeting (EGM) following the exit of its long-time auditor and three external directors amid delay in financials and lawsuits in the US.

Tata Power on Wednesday announced bagging a smart metering project worth Rs 1,744 crore in Chhattisgarh. The order has been awarded by Chhattisgarh State Power Distribution Company Limited (CSPDCL), Tata Power said in a statement.

NEW DELHI : JioCinema, the video streaming platform owned by Mukesh Ambani’s Reliance Industries Ltd, is set to disrupt the Indian OTT market with its free local language programming, which sets it apart from rivals such as SonyLIV or ZEE5, who have similar content behind a paywall. Moreover, JioCinema’s recent acquisition of Warner Bros Discovery content, which includes popular HBO Originals, and the addition of Universal Studios content poses a threat not only to Disney+ Hotstar, which has also lost the IPL rights but also positions the Viacom18-owned service alongside established players like Netflix and Amazon Prime, known for premium international programming.

Haryana government gave its nod to the 24x7 operation of restaurants in the state, eateries in Gurugram are overjoyed hoping to cash in on late night cravings of residents and round-the-clock working MNC employees. Several restaurants of the city, an IT hub, said they can't wait to serve late night and early morning diners with piping hot food and chilled drinks, even though security remains the foremost concern of most restaurateurs.

New Delhi: India is looking to tighten wind turbines standards and the ministry of new and renewable energy is likely to announce a quality control order (QCO) soon, people in the know said. The standards will be aimed at meeting the requirements for various equipment used in wind turbines, ranging from gears to blades. The QCO route is increasingly being used by the government to take on China, which is known for dumping products in India.

The Hindu report, OpenAI said that the decision to disable the feature was taken after it was discovered that it can “occasionally display content in ways we don’t want." "We are working to bring the beta back as quickly as possible", the company added. ChatGPT Browse with Bing is a beta feature (available to ChatGPT Plus subscribers) that allows ChatGPT to search the internet to help answer questions that benefit from recent information.

₹668.17 crore for the fiscal year FY23 to the government which is the majority shareholder. Among public shareholders, LIC is also one of the beneficiaries. In this financial year, BOI's share price has rallied by at least 55% on BSE.