Digital Financial News

China's Ant Group, Cyril Han, will take over from Eric Jing as chief executive from March 1, showed an internal memo seen by Reuters which was confirmed by a spokesperson. Han will continue to report to Jing who will remain as chairman, the memo showed. Han became president in March during the fintech's biggest organisational change since it was fined $984 million in July 2023 for violations in areas such as corporate governance.

Comptroller and Auditor General (CAG) unearthed a loss of excise revenue amounting to Rs 75.07 crore due to manipulation of manually maintained sales registers by retail shops of alcoholic beverages in Odisha during the COVID-19 pandemic. In its report, which was placed in the assembly on Saturday, the CAG said that the Odisha Excise Department in May 2020 imposed the Special COVID Fee (SCF), at the rate of 50 per cent of the maximum retail price, on all foreign made foreign liquor, Indian Made Foreign Liquor (IMFL), beer, wine and ready to drink beverages, sold in the state. SCF was imposed in view of the expected loss of excise revenue, on account of the two months' shutdown, as a response to the COVID-19 pandemic.

Known for talking about the weather 12 months a year, Britons will begin sharing thoughts on the latest festive commercials as soon as they hit screens, usually once the Halloween pumpkins are discarded. «It's the time of year when media budgets swell, and creative teams pull out all the stops to deliver memorable messaging that resonates,» noted James McDonald, director of data, intelligence & forecasting at marketing strategists WARC.

The comments from the minister come even as there seems to be some unease among southern states when it comes to dealing with the Adani group, especially after the second richest Indian Gautam Adani and others faced charges of bribing officials to secure contracts. Rajeev said Kerala has a big investment from the Adani group in the Vizhinjam Seaport near its capital Thiruvananthapuram and added that the current government decided to go ahead with the project signed by the predecessors only because the benefits accrued to the state and its people through the ambitious transshipment port.

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may not be introduced in Parliament in the ongoing session, sources said. Some finetuning may be required in the draft Bill after receiving comments from stakeholders, sources said. Given the paucity of time, it is difficult to present the Bill in the ongoing session, sources said, adding it may, however, come in the Budget session. The finance ministry has proposed to amend various provisions of the Insurance Act, of 1938, including raising foreign direct investment (FDI) in the insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence.

Redmi Note 14 series on December 9. The series, comprising the Redmi Note 14 5G, Redmi Note 14 Pro, and Redmi Note 14 Pro+, will bring advanced features to the Indian market. These devices, initially introduced in China in September, are expected to feature similar specifications with minor changes to suit Indian customers.

The incident took place late Friday night when Sudheer, his brother Prem, and their friend Sagar got into a dispute with a family living on the first floor of the building in Govindpuri over a common toilet that was not flushed. The altercation escalated when Sudheer objected to the toilet not being flushed, leading to the violent attack.

Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units. «We have seen a few cycles of price increase in India. It happens at the beginning of the calendar year and financial year, but few OEMs pick the timing based on their planned launches as well,» Deloitte India Partner Rajat Mahajan said.

tear gas to disperse farmers who began their 'Dilli Chalo' march to press the Centre for various demands, including a legal guarantee for Minimum Support Price (MSP). However, after walking for a few metres, they were stopped at the barricading by Haryana Police. «We will first identify them (farmers) and then we can allow them to go ahead. We have a list of the names of 101 farmers, and they are not those people — they are not letting us identify them — they are moving ahead as a mob,» a Haryana police official deployed at the site told news agency ANI.

Gurgaon's DLF Camellias has been sold for Rs 190 crore, marking it as the most expensive high-rise apartment transaction in the National Capital Region (NCR) and one of India's highest-ever price-per-square-foot deals. This 16,290-square-foot property was purchased by Info-x Software Tech Pvt Ltd through its director, Rishi Parti, according to real estate documents accessed by IndexTap.

Modi government has agreed to a «new normal» over the «old normal» prevailing prior to April 2020 and demanded that Parliament must be given an opportunity to debate the full gamut of the relationship between the two countries. Congress general secretary in-charge communications Jairam Ramesh said a discussion in Parliament on India-China relationship should focus on both strategic and economic policy, especially since our dependence on China has increased economically, even as it unilaterally changed the status quo on our borders over four years back. In a statement, Ramesh said the Congress has studied the recent suo motu statement made by External Affairs Minister S Jaishankar in both Houses of Parliament titled «Recent Developments in India's Relations with China».

Rahul Narwekar on Sunday filed his nomination for the Speaker's post in the Maharashtra Legislative Assembly. He filed his nomination in the presence of Maharashtra Chief Minister Devendra Fadanvis, both Deputy Chief Ministers — Eknath Shinde and Ajit Pawar, BJP state chief Chandrashekhar Bawankule, party leader Chandrakant Patil and others. The election for the post of Speaker of the Maharashtra Assembly is scheduled for tomorrow afternoon, December 9.

Jasprit Bumrah is only human and cannot always shoulder the responsibility of bowling opposition out all by himself, skipper Rohit Sharma said on Sunday, urging others to share the load with the premier fast bowler. India lost to Australia by 10 wickets in the second Test and during the Australian innings, only Bumrah stood out with a four-wicket haul. «Jasprit Bumrah cannot alone take responsibility. You don't expect him to bowl from both ends. The other guys also needs to step in and share the responsibility. There will be days when Bumrah won't get wickets,» Rohit said at the post-match press conference.

«The world didn't even count India on the economic front when XLRI came into being 75 years ago. Today, we are the fastest-growing economy and fifth-largest economy in the world, with a size of US 3 trillion. We will be the third-largest economy in the next three years at USD 5 trillion. Our economy will grow to USD 30 trillion by 2047,» he said. «We have to be wealth creators, job creators. We have the potential to create millions of jobs. The world is looking at India for digital public infrastructure… 46 per cent of digital transactions in the world take place in our country. We have become self-reliant in the service sector,» he said.

UN Trade and Development (UNCTAD). That same year, global exports of digitally deliverable services totalled USD 4.5 trillion. Such services can be delivered remotely over computer networks. Some examples include information technology consulting, creative industries, telecommunications and financial services. While digital technologies have the potential to transform global services trade, their benefits remain unevenly distributed.

Foreign direct investment (FDI) inflows into India have crossed the USD one trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at USD 1,033.40 billion during the said period. About 25 per cent of the FDI came through the Mauritius route. It was followed by Singapore (24 per cent), the US (10 per cent), the Netherlands (7 per cent), Japan (6 per cent), the UK (5 per cent), UAE (3 per cent) and Cayman Islands, Germany and Cyprus accounted for 2 per cent each. India received USD 177.18 billion from Mauritius, USD 167.47 billion from Singapore and USD 67.8 billion from the US during the period under review, as per the data.

slapping therapy" workshop. Hongchi Xiao, 61, from Cloudbreak, California, was convicted of manslaughter by gross negligence in July after a jury in Winchester, southern England, found that he was responsible for the death of 71-year-old Danielle Carr-Gomm. The incident occurred in October 2016 during a session meant to help Carr-Gomm manage her diabetes. Xiao was found to have «unlawfully killed» Carr-Gomm while leading a «paida lajin» workshop, a controversial alternative therapy where participants are slapped or encouraged to slap themselves. The jury concluded that Xiao failed in his duty of care by not seeking medical assistance when Carr-Gomm was suffering from diabetic ketoacidosis, a potentially fatal condition caused by a lack of insulin.

solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts. US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges. «If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe,» Nomura said in a report. The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs).

balloons near Taiwan between Saturday and Sunday, according to Taiwan's Defence Ministry, as Beijing ramps up pressure on the island it claims as its own. China's military activities come amid speculation Beijing might organise military drills around the island in response to Taiwanese President Lai Ching-te's recent visit to Pacific allies, including US stops in Hawaii and Guam. China claims Taiwan, a self-ruled democracy of 23 million people, as its own territory, and bristles at other countries' formal exchanges with Taiwan. The United States, like most countries, doesn't recognize Taiwan as a country but is its main unofficial backer and sells it arms.

Bashar al-Assad oversaw a merciless crackdown on a pro-democracy revolt that morphed into one of the bloodiest wars of the century. On Sunday, as rebels entered the capital, a Syrian war monitor said he had left the country, in what could spell the end not just of his 24-year rule but the downfall of his clan's five-decade reign. After facing down nationwide protests demanding his ouster and an armed rebellion that he all but crushed, Assad had — until a lightning rebel offensive — taken back control of much of Syria in the civil war that began in 2011.

Department of Financial Services (DFS) has directed banks to adopt advanced technologies, including artificial intelligence (AI) and machine learning (ML), to safeguard customers from fraudsters. The decision was taken during a high-level meeting chaired by the Secretary of DFS with representatives from the Reserve Bank of India (RBI), public sector banks, private banks, and payment banks. The meeting focused on tackling digital frauds, especially the increasing number of mule accounts used to facilitate illegal transactions.