Digital Financial News

CATL said on Wednesday it had co-developed 10 new electric vehicle models with automakers that use swappable batteries, as the Chinese battery giant seeks to lead a trend it says will replace a third of gasoline stations in China. Yang Jun, CEO of CATL's battery swapping brand EVOGO, said it would roll out the first EV that uses its so-called «choco-swap» battery this month, with the remaining to be launched in upcoming months. CATL will also look to build 1,000 battery swapping stations next year and to accelerate this further by enlisting partners to build more stations, he added.

national security concerns after its home internet routers were linked to cyberattacks, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. In August two U.S. lawmakers urged the Biden administration to probe the Chinese router-manufacturer and its affiliates over fears their Wi-Fi routers could be used in cyber attacks against the U.S., according to a letter seen by Reuters. The Commerce, Defense and Justice departments have opened separate probes into the company, with authorities targeting a ban on the sale of TP-Link routers in the U.S. as early as next year, the report said.

Patil, addressing the assembly on Tuesday, shared details about the ongoing efforts. “The Infrastructure Development Corporation Karnataka Ltd (IDeCK) is surveying various proposed sites for the best location. Once it finishes the survey, the report will be submitted to the Airport Authority of India (AAI),” he said. “AAI has the authority to finalise the location for the second airport in Bengaluru,” Patil added. The minister further explained that various factors would play a role in the decision-making process. These include connectivity, proximity to key areas, and the surrounding environment. «There will be some clarity on the location within a week,» Patil said.

Treebo Hospitality Ventures (THV) announced the launch of its new premium hotel brand called ‘Medalio’ on Wednesday. This launch comes close on the heels of the opening of Park Inn & Suites by Radisson Thrissur, the company’s first hotel under its master franchise partnership with Radisson Hotel Group to address the vast opportunity in the mid-market segment with a price range of Rs 3,500-6,000. The company said derived from the word ‘medallion’, Medalio hotels will come with 'elegant' decor, 'spacious' rooms, wider breakfast spreads, and premium Kimirica toiletries besides other amenities.

Sachin Tendulkar embodies the values of trust, integrity, and excellence that perfectly align with Kissht’s mission to make digital financial services accessible, transparent, and seamless for millions of Indians. The association will include various campaigns and integrated marketing initiatives that Tendulkar will participate in. Expressing his thoughts on this association, Sachin Tendulkar said, “It’s a delight to be associated with Kissht, a brand that aspires to help Indians meet their aspirations through the power of finance. Kissht’s focus on trust and accessibility struck a chord with me, and I look forward to supporting their journey in building one of the most trusted and respected digital financial platforms for millions of Indians.”

HBO plans to reintroduce Harry Potter in a long-form episodic format. The series will trace Harry’s journey from discovering he is a wizard to his struggles against Lord Voldemort. Showrunner Francesca Gardiner and director Mark Mylod, known for their work on “Succession,” will lead the project. The show will bring the story back to its origins while expanding on existing narratives.

Union Home Minister Amit Shah in response to a query about Kumar, who heads the JD(U). In an interview with a private news channel, Shah, who is a former BJP president, had evaded a direct reply when he was asked whether the NDA would adopt in Bihar a strategy similar to that in Maharashtra where it went to polls without declaring a chief ministerial candidate and got a landslide victory. Shah, who is widely regarded as the second-most powerful person in the BJP after Prime Minister Narendra Modi, had replied after a pause, «We will sit together and decide on the issue. Once we take a decision, we will let you know.»

As per the report, despite setbacks from the Covid-19 pandemic, the tourism and hospitality sector is witnessing a strong resurgence, fueled by domestic tourism. By 2036-37, spending in this sector is projected to rise by 1.2 times, driving the need for an additional 61 lakh workers, comprising 46 lakh males and 15 lakh females.

“The Ministry of Defense of Russia must be ready for any development of events, including a possible military conflict with NATO in Europe in the next decade,” Belousov said. The comments by the Putin minister came as US-President elect Donald Trump has called for a rapid end to the fighting. “We’re trying to get the war stopped, that horrible, horrible war that’s going on in Ukraine, Russia, Ukraine. We’re going to get a little progress, it’s a tough one, it’s a nasty one, it’s nasty," Trump had said.

The owner of Britain’s Guardian newspaper has confirmed that it has sold the Observer, the world’s oldest Sunday newspaper to Tortoise Media for an undisclosed fee

Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. «IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely clear about promoting the insurance business. This augurs very well for the business and policyholders as IIHL has a very strong capital base and a solid global aspiration in BFSI space,» Reliance Nippon Life Insurance CEO Ashish Vohra told PTI. Hinduja Group company IIHL is expecting to complete the acquisition of RCAP by next month nearly a year after the National Company Law Tribunal (NCLT) approved its rescue plan.

premium Scotch whisky brand, The Glenwalk, is set to make a major push in Maharashtra with the launch of a new 200ml Nip bottle. Priced at Rs 500, this more accessible format is part of the brand's strategy to quadruple its sales in the region, which already accounts for 68 per cent of its overall sales, the company said in a press release on Wednesday. Fresh off a Gold Medal win at the 2024 IWS Awards, The Glenwalk has garnered recognition for its quality, having also secured top honours at the ProWine 2023 and the 2024 London Spirits Competition. With the 200ml bottle, the brand aims to expand its customer base and further solidify its position in the competitive Indian whisky market. “We are thrilled to introduce the 200 ml Nip bottle to the discerning consumers of Maharashtra,” said Mokksh Sani, Founder of Living Liquidz, Mansionz, and Co-founder of Cartel Bros. “This launch, backed by the expertise of Cartel Bros, is a testament to our commitment to innovation and our dedication to providing premium spirits experiences. We are confident that this new format will resonate with our existing customers and attract new ones.”

Pushkar Singh Dhami announced that the Uniform Civil Code (UCC) will be implemented in Uttarakhand from January 2025. According to a press statement issued on Wednesday, all preparations have been completed, and Uttarakhand will become the first state to implement the UCC after independence. During a meeting of the Uttarakhand Investment and Infrastructure Development Board (UIIDB) held at the Secretariat on Wednesday, Chief Minister Dhami stated that the state government has undertaken all necessary preparations to implement the UCC, fulfilling its earlier resolution. The Chief Minister recalled that in the first cabinet meeting of the newly-formed government in March 2022, a decision was made to constitute an expert committee to study and implement the UCC in the state. Following this, a five-member expert committee was formed under the chairmanship of retired judge Ranjana Prakash Desai. Based on the committee's recommendations, the Uniform Civil Code Bill 2024 was passed by the State Legislative Assembly on February 7, 2024.

Guardian newspaper confirmed Wednesday that it has sold the Observer, the world's oldest Sunday newspaper, to Tortoise Media for an undisclosed fee. The Scott Trust, which owns the Guardian Media Group, said in a statement that Tortoise Media is purchasing the Observer through a combination of cash and shares. The Observer, which was founded in 1791 and became part of the Guardian Media Group in 1993, is a bastion of liberal values in Britain's media landscape.

Gems and jewellery exports saw a decline of 12.94 per cent to USD 1,986.21 million (Rs 16,763.13 crore) in November on prolonged geopolitical tension, Gem and Jewellery Export Promotion Council (GJEPC) said on Wednesday. Gems and jewellery exports in November 2023 stood at USD 2,281.4 million, the GJEPC data added. Cut and polished diamonds export in November declined 39.81 per cent to USD 666.01 million compared to USD 1,106.53 million for the same period last year.

ISRO on Wednesday announced that it has commenced the assembly of the Human-Rated Launch Vehicle Mark-3 (HLVM3) for Gaganyaan's first uncrewed flight at the Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh. The space agency called it a major step towards India's maiden human spaceflight and future space ambitions. The event coincides with the 10th anniversary of the Launch Vehicle Mark-3 (LVM3-X/CARE (Crew module Atmospheric Reentry Experiment)) mission, conducted on December 18, 2014. According to a statement by ISRO, the human-rating of LVM3 has been completed and all systems have been tested for enhanced reliability. Ground tests and flight tests in off-nominal conditions have ensured the performance of these systems in line with human safety requirements. The addition of the highly reliable Crew Escape System (CES) has further increased confidence for the manned missions planned by ISRO. Escape provision exists for the crew during all phases of ascent till injection of the module into orbit.

AI video generation model, just days after OpenAI released its own model, Sora, to the public. The competition between Google and OpenAI continues to intensify. Following OpenAI’s launch of ChatGPT Search as a challenge to Google’s core search business, Google has responded with a significant move in the battle for dominance in AI-driven text and video generation. According to a blog post by Google, Veo 2 produces highly detailed, realistic videos across diverse styles and subjects. The model excels in capturing the intricacies of real-world physics, human movement and expressions, enhancing overall realism. It also understands cinematographic language, allowing users to specify genres, lenses and cinematic effects to generate videos up to 4K resolution, lasting several minutes.

economic fraud in the past 24 months, according to PwC's 'Global Economic Crime Survey 2024 — India Outlook. This marks an 18 per cent increase compared to the global average of 41 per cent and a 7 per cent rise within India since the 2022 survey, PwC India highlighted. The latest findings highlight procurement fraud as the top threat for Indian businesses, with 50 per cent of respondents identifying it as a major issue. This reflects a significant 21 per cent jump compared to global concerns. In contrast, customer fraud, which was the leading issue for 47 per cent of Indian businesses in 2022, has been overtaken.

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Bharti Airtel’s Africa unit is seeing strong business resurgence and is set to pull ahead of rival telcos operating in the African continent, including MTN, Vodacom and Orange by recording the highest revenue growth in Year 2025, analysts and industry experts said. London-based NewStreet Research estimates that Airtel Africa Plc will deliver 20.6% on-year revenue growth in Year 2025 vs 17.2% (MTN), 9% (Orange) and 6.8% (Vodacom). In Year 2024, Airtel Africa is estimated to have drawn level with MTN, with both telcos slated to report over 21% on-year revenue growth — significantly higher than Orange and Vodacom’s 9.4% and 6.4% estimated growth levels respectively, the UK brokerage added.