Digital Financial News

capital gains on gold to qualify as long term capital gains from 36 months to 24 months and simultaneously cut the LTCG tax rate to 12.5%. Further, indexation available for LTCG calculation for gold has been removed.

On 13 June, shareholders voted to remove Aaron Le Cornu as director at the meeting, the day after fellow board member Gailina Liew withdrew her re-election bid. This left the recently appointed chair Eric Sanderson as the sole director on the board, putting the trust in breach of Jersey regulations for not meeting the minimum number of directors. The same day Liew stepped down from the trust, DG9 had moved to promote Andrew Zychowski as a non-executive director. Digital 9 Infrastructure appoints chair to oversee managed wind-down However, they were unable to make this official a...

HIVE Digital Technologies has announced plans to construct a 100-megawatt Bitcoin mining facility in Paraguay, marking its first venture into the country.

AI) is probably one of the last things a growing, lower-middle-income economy needs, said the Economic Survey.

Finance Minister Nirmala Sitharaman on Tuesday again took a digital tablet wrapped in a traditional 'bahi-khata' style pouch as she headed for Parliament to present the full Budget 2024-25 in a paperless format just like the previous years. Draped in a white silk saree with magenta border, she posed for the traditional 'briefcase' picture outside her office, along with her team of officials, before heading to meet the President.

The likely new head of the top South Korean financial regulator says he is “cautious” about letting corporations invest in crypto.

«Some of the companies will be absorbed by the bigger players, so to your question who will be the winner here, I think that one should stick with the larger companies, the more efficiently managed companies and companies with a franchise, with a brand which the consumer appreciates and looks forward to staying in, I think that that is the space which is going to benefit going forward,» says Anshul Saigal, Founder, Saigal Capital. After what seemed like an inline Q1, because of the monsoon quarter perhaps which is going to flow through in Q2, who do you think is going to win the battle and whether or not you think hotel industry has a prosperous rest of FY25 ahead of them? Anshul Saigal: So, if you go back to the 2003-2007 cycle you look at where rates went around the time of 2007-2008, we are still scraping only the surface in hotel tariffs at this moment. Even though occupancy is high, hotel tariffs are also up, but in comparison to where they were in that phase, we are nowhere close.

Securities and Exchange Board of India (Sebi) has intensified surveillance of initial public offerings (IPOs), slowing approvals, as it looks to safeguard investors. The average approval time for IPOs in calendar year 2024 has lengthened to 125 days, the most in 11 years, according to primedatabase.com data. Out of the 44 IPOs approved by Sebi this year, 18 have taken more than 125 days, data showed.

Google is planning to keep third-party cookies in its Chrome browser, it said on Monday, after years of pledging to phase out the tiny packets of code meant to track users on the internet.

Businesses from airlines to hospitals have been grappling with faulty software update that caused technological havoc worldwide on Friday

banks and other regulated entities can create situations of dependence on single vendors for critical services, thus increasing risks, said Reserve Bank of India deputy governor M Rajeshwar Rao, making the observation days after a global outage of Microsoft systems.

Godfrey Phillips director Bina Modi on Monday withdrew her contempt petition filed against her sons — Lalit and Samir Modi – in the Supreme Court.

Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman said that the pre-bugdet document highlighted the prevailing strengths of India's economy.

Railways has increased by 77 per cent over the past five years with significant investments in the construction of new lines, gauge conversion and doubling, the Economic Survey 2023-24 said on Monday. According to the survey tabled in Parliament by Finance Minister Nirmala Sitharaman, in the financial year 2019-2020, the capital expenditure was 1.48 lakh crore which was increased to ₹2.62 lakh crore in 2023-24.

MUMBAI : Kotak Mahindra Bank Ltd’s reported profit jumped sharply during the first quarter of FY25 (Q1FY25), thanks to its insurance arm stake sale. Standalone net profit rose as much as 81% year-on-year to ₹6,250 crore, aided by an exceptional gain after the bank divested 70% stake in Kotak General Insurance to Zurich Insurance. Excluding the stake-sale gains, the bank’s net profit stood at ₹3,520 crore.

Mint. “It will be remiss if we don't take advantage of the talent pool here." This comes at a time when tech hiring in India is slowing. Many IT firms and startups are downsizing or tightening their purse strings, offering low compensation and hikes.

Budget 2024 approaches, anticipation is building across various sectors in India. Each year, the budget sets the stage for economic policies and resource allocations that significantly impact the country's growth trajectory. This year, there is a heightened focus on how the budget will address key areas such as technological innovation, infrastructure development, and social welfare. Industry expectations Vijay Navaluri, Co-founder & Chief Customer Officer, Supervity, highlights the AI sector's optimism for policies that will further stimulate growth and innovation. He underscores the importance of the government's continued support for AI and related technologies to drive the industry forward. Navaluri expects the budget to prioritize investments in AI, particularly in enhancing AI-based education and skill development through partnerships between educational institutions and industry. This, he believes, will ensure a steady pipeline of skilled professionals who can contribute to various sectors, including healthcare, agriculture, and urban planning.

About 8.5 million computers got disabled globally in the great outage that left users of Windows blue-walled last week, as estimated by Microsoft, which makes the operating software. This, the company noted, meant that less than 1% of the world’s devices with Windows got hit by the faulty update installed online by CrowdStrike, a cybersecurity firm.

Mint Acharya sheds light on the evolving landscape of advertising amidst economic uncertainties and technological evolution. Acharya discusses the strategic manoeuvres Publicis is adopting in response to global economic conditions, recent elections, and the surge in digital transformation. Edited excerpts… Earlier in the year, we observed some slowdown in consumption in some consumer product categories.

Kotak Mahindra Bank, the country's fourth-biggest private lender by market value, said its margins and unsecured loan business are affected by the Reserve Bank of India's (RBI) embargo, but it has made progress in deepening relationships with Kotak 811 customers and enhanced offers to credit card customers. Ashok Vaswani, MD, conveyed this message to the analysts soon after declaring the first quarter results. He indicated that the RBI has not given any timeline on when the ban, imposed in the last week of April on onboarding customers digitally and issuing credit cards, would be lifted. «We have been assured that look, it's not as if we are going to wait till you finish every single thing before we lift the embargo,» he said. The bank has shown strong commitment by adding resources, and the RBI is aware of it, added Vaswani.