Digital Financial News
21.10 / 12:19
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Meta Force Becomes Holiverse: Global Rebranding Of The DeFi Platform
Mao is the Editor for Partnerships and Sponsored Content at Cryptonews. With five years in the crypto industry, she collaborates with partners to bring the latest updates and insights to our readers.
21.10 / 12:05
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Russia has never done anything to impact our interests negatively: EAM S Jaishankar
Russia has never done anything to impact India's interests negatively, said External Affairs Minister S Jaishankar on Monday at the NDTV World Summit. Prime Minister Narendra Modi is set to attend the BRICS summit in Russia from October 22-23 at the invitation of Russian President Vladimir Putin. In July this year, PM Modi visited Russia, his first since Moscow launched its invasion of Ukraine, a war that has complicated the relationship between the longtime allies and pushed Russia closer to India's rival China.
21.10 / 12:05
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Digital
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Silver touches historic high of Rs 1 lakh per kg
Silver touched a historic high of Rs 1 lakh per kg with a Goods & Services Tax (GST) of 3 per cent in the physical market on Monday, up by almost Rs 5,000 per kg from Friday. “Prices may soon touch Rs 1.25 lakh per kg. Silver, the poor man’s gold, is on a bull run as industrial demand of the metal is on the rise. Also the rising gold prices is impacting the price rally of silver,” said Prithviraj Kothari, president of India Bullion & Jewellers Association (IBJA). Jateen Trivedi, VP Research Analyst- Commodity & Currency at LKP Securities said "Silver prices have gained strong upward momentum, with physical market prices surpassing Rs 100,000 per kg in India. As gold prices soar, retail buyers are increasingly turning to silver, viewing it as a relatively cheaper alternative at these levels, especially with gold now touching ?78,000 for 10 grams. The rise in silver is being driven not only by its appeal as a more affordable precious metal but also by increasing demand from the electric vehicle (EV) sector and photovoltaic applications, which is expected to sustain global demand in the medium to long term.”
21.10 / 12:05
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Metro
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Delhi Police tightens security across markets, alerts railway and metro staff after Rohini blast
Delhi Police has beefed up security arrangements in various markets, which are bustling with shoppers during the festival season, and asked the railway and Metro staff to be on high alert following the blast in front of CRPF school in Rohini's Prashant Vihar area, officials said on Monday. The strong explosion ripped through a wall of the CRPF school on Sunday morning. No one was hurt in the blast which also damaged hoardings of nearby shops and window panes of vehicles parked near the site. «We have asked our staff to keep a tight vigil on every single railway and metro station. Additional force deployment will be made to check any suspicious activities,» a senior police officer said. The officer said that joint patrolling teams with the Railway Protection Force (RPF), Government Railway Police (GRP) and other stakeholders have been deployed.
21.10 / 11:21
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RAI
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MVA has reached consensus on 210 seats, says Sanjay Raut; accuses BJP of spreading misinformation
Maharashtra, which is a «significant achievement», Shiv Sena (UBT) leader Sanjay Raut said on Monday. The aim is to ensure the defeat of forces looting Maharashtra, he said in a swipe at the ruling alliance comprising Chief Minister Eknath Shinde's Shiv Sena, the BJP and Ajit Pawar-led NCP. «We have arrived at a consensus on 210 seats. It is a significant achievement. We aim to contest polls as a joint force and we will defeat the forces looting Maharashtra,» Raut, a Rajya Sabha MP and key strategist for the Shiv Sena (UBT), told reporters. The MVA comprises the Shiv Sena (UBT), the Congress and Sharad Pawar's NCP (SP).
21.10 / 11:21
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COST
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Digital
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PhonePe FY24 operating revenue up 73% to Rs 5,064 crore, loss down 28%
PhonePe reported a 73% jump in operating revenue at Rs 5,064 crore for financial year 2024, from Rs 2,914 crore a year ago. Its net loss for the year fell 28% to Rs 1,996 crore from Rs 2,795 crore in the previous fiscal. Its overall expenses went up 31% to Rs 7,756 crore in FY24 compared to Rs 5,907 crore in FY23. The expenses were primarily driven by employee expenses which in FY24 stood at Rs 3,603 crore compared to Rs 3,096 crore in FY23. Payment processing charges for fiscal 24, the cost payment companies have to bear to settle digital transactions with banks, jumped 74% to Rs 1,166 crore compared to Rs 667 crore in the year prior. Sharing the details in its annual report for FY24, the Walmart-backed company said it reported a profit of Rs 197 crore in the last financial year, excluding employee stock ownership costs, which shows that its core operational business has started to show profits.
21.10 / 11:21
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Digital
love
Experts
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country
'Love this great country but...': Taslima Nasreen appeals to Amit Shah to extend her stay in India
Bangladeshi author Taslima Nasreen on Monday made a public appeal to Union Home Minister Amit Shah, requesting him to extend her residence permit to live in India. In an open request to Shah posted on her official X account, Nasreen claimed that the Ministry of Home Affairs is not extending her permit to stay in India since 2022. She expressed her worry, and urged the Minister to intervene for her benefit. «Dear AmitShahji Namaskar. I live in India because I love this great country. It has been my 2nd home for the last 20yrs. But MHA has not been extending my residence permit since July22. I'm so worried.I would be so grateful to you if you let me stay. Warm regard,» read Nasreen's post on X.
21.10 / 09:51
markets
Digital
Experts
PAM
India said to consider imports of Mongolian coking coal via Russia
Mongolian coking coal by way of Russia, a senior government official with direct knowledge of the matter said, as New Delhi seeks to avoid over-reliance on transit through China. Mills in India, the world's second-biggest producer of crude steel, grappled with volatile Australian supplies of coking coal last year, and the government sent delegations to Mongolia in an effort to diversify sources of the fuel. Despite a longer route, Indian steel companies will now consider importing Mongolian coking coal by way of Russia, said the official, who spoke on condition of anonymity, as the deliberations are not public.
21.10 / 09:51
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Allied Blenders and Distillers Limited partners with Roust Corporation to launch Russian Standard Vodka in India
Allied Blenders and Distillers Limited (ABDL), the third largest spirits company in India, has partnered Roust Corporation, one of the largest vodka producers in the world to launch Russian Standard Vodka in India. The new strategic distribution agreement underscores ABDL's wider strategy of offering premium and luxury products to Indian consumers. Russian Vodka is the largest selling vodka in Russia with 30% market share in the premium category and is exported to over 85 countries. ET was the first to report the development on 12 August this year. The strategic arrangement between ABDL and Roust Corporation leverages the strengths of both companies. ABDL's distribution network and consumer marketing expertise will complement Roust Corporation’s globally renowned vodka premium portfolio namely Russian Standard Original, Gold and Platinum, it said in a statement.
21.10 / 09:51
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COST
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Manufacturing
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UltraTech Cement eyes 7-8% growth amid infrastructure boost, urban housing demand
«UltraTech’s ambitious capacity expansion capitalises on the substantial long term growth potential of India’s cement sector. Its growth trajectory aligns closely with India’s broader growth story. By increasing its scale, the Company will meet the rising demand for cement nationwide,» said the press release by the Aditya Birla-owned entity. Moreover, to meet India's growing demand for cement, UltraTech plans to exceed its total capacity by 200 MTPA by FY27 through the acquisitions of Kesoram Cement (10.75 MTPA) and The India Cements (14.45 MTPA). This expanded manufacturing footprint is expected to help the Birla cement firm reduce operational costs, and improve customer service by leveraging the company’s nation-wide presence and its distribution network, UltraTech further said in the exchange filing.
21.10 / 09:51
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Courts
Karnataka HC rejects PIL seeking apology from Rahul Gandhi over alleged remarks on women
Rahul Gandhi apologise for allegedly tarnishing the dignity of Indian women. The PIL stemmed from a claim that Gandhi had falsely accused former Janata Dal (Secular) MP Prajwal Revanna, who is facing charges of rape and sexual abuse, of «raping 400 women and filming the act,» describing it as «mass rape» and not a sex scandal. A bench comprising Chief Justice NV Anjaria and Justice K Aravind dismissed the petition, stating that it was a waste of judicial time. The Court also imposed a Rs 25,000 fine on the petitioner, the All India Dalit Action Committee, for filing the plea. The petitioner's counsel argued that Gandhi's remarks, made during a public speech, were highly irresponsible and offensive, particularly to the women of Hassan. He pleaded the Court to issue a notice to Gandhi, compelling him to respond to the allegations.
21.10 / 08:23
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In third round of spats, Kunal Kamra calls out Ola bouncers at service centres
Kunal Kamra has once again found himself in a spat with Ola- this time for highlighting troubling allegations regarding Ola’s service practices. In a recent post on X (formerly Twitter), Kamra shared an incident that allegedly took place at an Ola service centre, drawing attention to the behaviour of the company's bouncers. «Hey @bhash You’ve sold such an innovative indian product you’ve had to hire bouncers to protect the staff,» Kamra wrote in his post on X, tagging CEO Bhavish Aggartwal.
21.10 / 08:23
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Digital
Strategy
Pregnancy
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UK woman fired for getting pregnant during maternity leave. This happens next
maternity leave pregnant again, was awarded a compensation of 28,000 pounds by an employment tribunal. The woman Nikita Twitchen, 27, was preparing to return to her office after having a baby when she found out she was expecting again. Before she could join back, her managing director Jeremy Morgan sacked her from her job to stop her going on another 36-week maternity leave, Daily Mail reported. Nikita Twitchen, an office administration assistant at First Grade Projects, began her role in October 2021. Left with no options to make her ends meet, Nikita was forced to take cleaning jobs while pregnant to support her family. She then took the building services firm First Grade Projects to an employment tribunal, launching an unfair dismissal claim, alleging that her pregnancy was the reason for her termination, where a judge ruled she was unfairly dismissed. ALSO READ: A Dive into Romance: Saudi couple gets married underwater in the Red Sea with attendees of fellow divers
21.10 / 08:23
markets
Digital
Gap
Strategy
economy
Sustainability
Experts
Germany desperately needs more workers; and it has new measures that favour India
Germany is focusing on attracting skilled workers from India, following new migration measures recently approved by Chancellor Olaf Scholz’s Cabinet. The move aims to streamline immigration processes and support the integration of Indian workers, addressing the critical workforce gaps caused by an ageing population. Germany, known for having the strongest economy in the European Union, faces increasing pressure to secure skilled labour to maintain economic momentum. Hubertus Heil, the German Labour Minister, emphasized India’s importance, saying, «Germany views India as an especially important partner when it comes to the issue of skilled labour migration.» The newly approved migration framework underscores the deepening economic relationship between Germany and India. With a focus on long-term economic sustainability, the German government aims to attract qualified Indian professionals across various sectors to address workforce gaps.
21.10 / 08:23
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Institutional investment in real estate up 31% to $4.61 billion in January-September: Report
real estate sector increased 31 per cent year-on-year to USD 4.61 billion in January-September 2024 amid strong consumer demand, according to Vestian. Real estate consultant Vestian on Monday released its report on 'Investment in Indian Real Estate', observing that funds' inflow from institutional investors in the first nine months of 2024 has already surpassed the total for 2023. «Investors have shown confidence in India's growth story on the back of robust GDP growth. As a result, the real estate sector witnessed increased participation from foreign investors which led to institutional investments touching a billion mark in Q3 2024,» Shrinivas Rao, CEO of Vestian said. He noted that domestic investors are also actively participating, supported by the rapid infrastructure development across the country.
21.10 / 08:07
UPS
Provident
Digital
security
Sony
Features
Videos
Amazon Great Indian Festival Diwali Sale: Grab more than 80% off on security cameras, smart doorbells and more
Amazon Great Indian Festival Diwali Sale: More than 30% off on AI laptops from HP, Lenovo, Acer and moreSafeguard your home’s exterior with top-notch outdoor security cameras, now available at up to 84% off during the Amazon Great Indian Festival Diwali Sale. These weather-resistant cameras provide excellent coverage, with features like motion alerts, HD video, and night vision, offering round-the-clock protection for your property.Also read: Amazon Great Indian Festival Diwali Sale is Live: Enjoy up to 80% off on wall art, hangings and moreEnhance your home’s security with advanced video doorbells, discounted by up to 67% in the Amazon Great Indian Festival Diwali Sale.
21.10 / 07:15
markets
UPS
IPO
Digital
Nov
PAM
Schools
Lulu Retail kicks off one of UAE's biggest IPOs this year
Middle East's biggest hypermarket chains, kicked off an initial public offering on Monday that bankers say could be the UAE's largest this year. The offering by the conglomerate that runs more than 240 stores in the six countries belonging to the Gulf Co-operation Council comes during a retail spending boom in the region that is spurring domestic listings by companies in the sector. The listing, set to run from Oct. 28 to Nov. 5, will offer more than 2.582 billion shares, which are expected to start trading on the Abu Dhabi Securities Exchange on Nov. 14, Lulu's IPO document showed.
21.10 / 07:15
21.10 / 07:15
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hospital
innovations
patient
From AI beds to remote ICUs, startups are plugging India’s health gaps
Dandwate, a consultant to sports carmakers such as McLaren at the time, decided to apply his experience with race cars to health care. He and a fellow engineer began working on a project to use the kinds of sensors used in Formula 1 cars that can monitor body’s micro-vibrations to map health metrics in non-intrusive ways at hospitals. “We use a lot of sensors, analytics, artificial intelligence to assess the health of a car.” Dandwate, 33, told Bloomberg News in an interview. “And that’s where my race car-engineering background helped, because we used some of the same methods to develop a sensor-based contactless patient monitoring system.”
21.10 / 07:15
markets
Digital
Strategy
Covenant
Experts
PAM
Schools
Hot India private credit market faces risks as exuberance grows
credit market is growing so fast that a rush of new participants into the direct-lending sector is fueling concern about a weakening of lending standards. “We have seen a bunch of first-time managers raise a lot of local capital,” Indranil Ghosh, head of Pan-Asia special situations at Cerberus, said at the Bloomberg India Credit Forum in Mumbai on Friday. “With some of those managers, I suspect that the underwriting standards, the diligence standards, the structuring, covenants are slightly lighter than what a lot of the global firms and well-established domestic institutions are used to.” Also Read: RBI may act against more NBFCs to check obscure lending practices: Morgan Stanley
21.10 / 07:15
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Blockchain
Digital
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community
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New crypto presales to watch as Bitcoin eyes a bullish finish in 2024
While established altcoins benefit from strong communities, new projects have higher growth potential. That explains the hype surrounding crypto presales. Here are three new crypto ICOs to watch now.
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