Digital Financial News

The comments came as Moscow unleashed a second missile attack in as many days on the UNESCO-protected Ukrainian city of Odesa on the Black Sea that left 10 dead and more than 40 wounded. Kyiv has long sought authorisation from Washington to use the powerful Army Tactical Missile System, or ATACMS, to hit military installations inside Russia as its troops come under growing pressure.

Many schools have shifted classes online while offices have implemented work-from-home arrangements due to pollution. Consequently, consumers are increasingly opting for online orders to reduce the need to step outside. «Earlier, I used to deliver 30-35 orders a day, but now it's gone up to 45-50,» said a delivery partner working at Zepto. At night, deliveries take 5 to 10 minutes longer than usual because of the smog, he added.

Donald Trump's transition team have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department's priorities, according to people familiar with the matter. If new rules enable cars without human controls, it will directly benefit Elon Musk, the Tesla chief executive officer and Trump mega-donor who's become a powerful fixture in the president-elect's inner circle. He's bet the future of the EV maker on self-driving technology and artificial intelligence. Tesla's stock rose more than 7% shortly after the market open Monday, extending their 28% advance since election day. Shares of Uber and Lyft, who could face competition from Musk's long-planned robotaxi network, each fell more than 6% in intraday trading.

International Development Association fund for the world's poorest countries, two sources with knowledge of the commitment said on Monday. Biden announced the U.S. pledge during a closed session of the Group of 20 summit in Rio de Janeiro, according to the sources, who spoke on condition of anonymity. The amount is a record and substantially exceeds the $3.5 billion Washington committed in the previous IDA fund replenishment round in December 2021. A White House spokesperson in Washington declined comment on the World Bank's IDA replenishment.

Donald Trump's audacious win over Kamala Harris and the sweep of both Houses of the US Congress by the Republican Party, two significant developments have set the stage for an emboldened Trump 2.0 administration: Trump's cabinet appointments have set off shock waves across Washington, underscoring his trademark unpredictability. These choices signal his intent to shake up the established order and reinforce his disruptive approach to governance — something cut short by his loss to Joe Biden in 2020. With far-reaching implications, Elon Musk has officially joined the Trump administration. Musk's inclusion comes as little surprise, considering his public support for Trump during the campaign, including a reported $100 mn-plus in campaign contributions.

Donald Trump has chosen Brendan Carr, the senior Republican on the Federal Communications Commission, as its chair. Carr has served at the agency since 2012, including as an adviser to a later chair, Ajit Pai, and has worked as its general counsel. Trump during his first presidency nominated Carr to the FCC in 2017. «Commissioner Carr is a warrior for Free Speech, and has fought against the regulatory Lawfare that has stifled Americans' Freedoms, and held back our Economy,» Trump said in a statement.

Nirmala Sitharaman on Monday expressed concerns over the mis-selling of products, particularly insurance, stating that it adds to the customers' borrowing costs. Speaking at the State Bank of India Economist Conclave, on whether there is a case for a policy rate cut, the FM said «banks’ interest rates will have to be far more affordable» while adding that she does not want to get into the debate about whether perishables should be part of the inflationary measure index. Banks have facilitated the distribution of insurance project products, Sitharaman said. «While this model has significantly contributed to improving insurance penetration across the country, it has also raised concerns about instances of mis-selling … I would say, it added or contributed in indirect ways to the increased cost of borrowing for the customers.»

ease of doing business and digitalization are driving the structural shift in the domestic banking system while banks also in the last decade have not focused on deposits, SBI Chairman C S Setty said on Monday. «I think it is also a sign of a maturing investment climate and the digitalization, which has played an important role (in driving people to invest at places other than banks),» Setty said at a panel discussion on the 'role of young leaders for Viksit Bharat@2047' hosted by SBI here. He was responding to a question on the increasing concerns over deposit mobilization as more and more people are looking at other avenues of putting their money to use as opposed to bank deposits. Doing banking a few years ago was too much of a «pain» and investing in SIP was also not an easy task, the SBI chairman said.

Melania Trump is continuing this contentious business endeavour and won't be slowing down anytime soon, despite Donald Trump returning to the White House. A limited-edition photo series titled ‘On the Move,’ which features Melania in a variety of professional settings, was released earlier this week. The 16 digital photos that she is selling on the blockchain feature her in her office, on the campaign trail, and in other locations, as quoted in a report by SheKnows. It’s being sold on her website for nearly $200 and is being sold on Solana blockchain, which is an eco-friendly proof-of-state blockchain protocol, per Fox News via MSN.

Nagaraju M on Monday said he is «sceptical» about cryptocurrencies like Bitcoin and stressed on the need to adopt a cautious approach on such assets. Speaking at an event organised by SBI, Nagaraju backed the Reserve Bank's «careful» stance on such assets. It can be noted that the RBI has been vehemently opposing any recognition of crypto over the years on a slew of factors, primarily stemming from the financial stability concerns. «I am also very sceptical of cryptocurrency. Not now, not after becoming the financial secretary. Even as an individual, I am very doubtful of the entire scheme of cryptocurrency,» Nagaraju said speaking at an event organised by SBI.

NCP (SP) leader Anil Deshmukh was seriously injured after stones were hurled at his car in Nagpur district on Monday night, police said. The incident occurred around 8 pm when Deshmukh was returning to Katol after attending a meeting in Narkhed village. Some unidentified persons threw stones at Deshmukh's car near Belphata on the Jalalkheda Road near Katol. Deshmukh, who sustained injuries during the attack, was immediately rushed to the Katol Civil Hospital, police said. Nagpur Rural Superintendent of Police, Harssh Poddar, confirmed the incident. He said senior officers were rushed to the spot.

Spirit Airlines, the US' biggest budget airline, has filed for bankruptcy protection. Spirit has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion over the next year. The airline will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue, AP reported. The Florida-based airline said it had pre-arranged a deal with its bondholders to restructure its debts and raise money to help it operate during the bankruptcy process, which it expects to exit in the first quarter of 2025. The carrier said it expected to continue operating its business as normal through the proceedings and customers could book and fly without interruption.

«China stands ready to work with India to deliver on the important common understandings between the leaders of the two countries, step up communication and cooperation and enhance strategic mutual trust,» he said, adding that he has no information on the specifics of the meeting of the leaders and officials. At their Kazan meeting, the two leaders endorsed the India-China agreement on patrolling and disengagement along the Line of Actual Control (LAC) in eastern Ladakh and issued directions to revive various bilateral dialogue mechanisms, signalling attempts to normalise ties that were hit by a deadly military clash in 2020.

Chennai-Vladivostok maritime corridor, which is likely to boost maritime ties between India and Russia, is operational now, and container ships carrying crude oil, metal and textile have started coming to Indian ports, Union Minister Sarbananda Sonowal said on Monday. The Chennai-Vladivostok sea route will cover a distance of about 5,600 nautical miles. «The Eastern Maritime Corridor between Vladivostok and Chennai is operational now. Container ships carrying crude oil, metal and textile have started coming to Indian ports,» Sonowal told reporters here. The Eastern Maritime Corridor is estimated to reduce the time required to transport cargo between the Indian and Russian Ports of the Far East Region by up to 16 days. The time taken will come down to 24 days compared to more than 40 that it currently takes to transport goods from India to Far East Russia via Europe.

Adani Group will invest about USD 35 billion over the next five years to set up large-scale solar, wind and hybrid plants across different parts of the country, Adani Green Energy Executive Director Sagar Adani said on Monday. Adani Group is making one of the largest greenfield investments in energy sustainability and transition in the world, he added. «We have embarked upon what I would say (is the largest greenfield development in the field of renewables by any company anywhere in the world. So, we're investing about USD 35 billion over the next five years to set up large-scale solar, wind and hybrid plants across different parts of the country,» Adani said at a CEO panel discussion on 'Role of young leaders for Viksit Bharat@2047' at an SBI-hosted economic conclave here. The company is setting up a 30,000-megawatt single-location renewable energy plant in Khavda in Gujarat.

Singapore Airlines CEO Goh Choon Phong on Monday said the airline group will support the ongoing transformation of the enlarged Air India Group by offering «our stewardship and expertise where possible» as he emphasised that Air India-Vistara merger marks a pivotal moment for Indian aviation. In his first comments after the completion of the merger on November 11, he also said that Singapore Airlines is committed to deepening its commercial collaboration with Air India. Vistara was a joint venture between Singapore Airlines and Tatas, and with the merger, Singapore Airlines has a 25.1 per cent in Tata Group-owned Air India. At a symbolic ceremony in the national capital on Monday, Tata Sons and Singapore Airlines celebrated the merger. Tata Sons Chairman Natarajan Chandrasekaran, Goh Choon Phong, as well as senior management and employees from Tatas, Singapore Airlines, Air India, and Vistara were present, according to a joint release by Singapore Airlines and Tata Sons.

Amazon Seller Services and Flipkart Internet, experienced robust growth in the fiscal year ending March 2024, reaching a combined total of Rs 11,621 crore. This marks an impressive 33% increase from the previous fiscal year’s Rs 8,705 crore, according to regulatory filings by both companies. Amazon Seller Services, the Indian marketplace arm of the global e-commerce giant Amazon, reported a substantial 24% increase in revenue from «other marketplace-related services,» amounting to Rs 6,649 crore—a notable rise from Rs 5,380 crore in the previous fiscal year. The «other marketplace-related services» category primarily comprises income from advertising, which is recognised based on clicks or impressions delivered to users.

healthcare industry is expected to step up spending on cybersecurity, with hospitals currently allocating 8–10% of their IT budgets for hiring experts and deploying tools to prevent cyberattacks. According to a Deloitte India analysis, this will increase to 12–15% in the next two years– from a reactive to a proactive cybersecurity readiness. Unlike the financial services sector, healthcare has been slower in adopting digital technologies. However, recent data breaches and rising cyber threats have prompted large hospital chains and their board members to prioritise patient data protection highlighted the ‘Cyber Resilience in Hospitals’ report by Deloitte and the Data Security Council of India (DSCI). While the Indian healthcare system is valued at $66 billion and projected to surpass $100 billion by 2027 cyber readiness and digital infrastructure needs to be developed. Nearly 60% of healthcare organisations globally suffered a cyberattack in 2023, according to a study by Sophos, earlier reported by ET. This includes India's top institutions such as the All India Institute of Medical Sciences (AIIMS) and the Indian Council of Medical Research (ICMR) wherein the personal data of over 81.5 million Indians was compromised and found for sale on the dark web.

Sabarmati Report starring Vikrant Massey released in the theatres and a day after PM Narendra Modi praised it, Union Ministers Amit Shah and Ashwini Vaishnav followed suit on Monday. In a wave of support, praise as well as criticism, social media platform X remained divided over the film as voices from both spectrums flooded it. The BJP leaders took to X to voice their review of the film, as TMC leader Sagarika Ghose and supporters pounced on the action to attack the saffron party over it. “No matter how hard a powerful ecosystem tries, it cannot keep the truth hidden in darkness forever. The film #SabarmatiReport defies the ecosystem with unparalleled courage and exposes the truth behind the fateful episode to broad daylight,” wrote Union Home Minister Amit Shah.

Subscribe to enjoy similar stories. After enduring New Delhi’s extreme temperatures and lung-killing pollution for two years, the 27-year-old IT engineer took a transfer to his employer’s office in Bengaluru. It was meant to be a new beginning amid pleasant weather, easygoing people and pubs aplenty.