Digital Financial News

Leading accounting firm KPMG has partnered with Cryptio, a crypto accounting software provider, to assist crypto firms in the United States in adhering to Generally Accepted Accounting Principles (GAAP) compliance.

work-related stress and poor work-life balance, as per a report by digital healthcare platform MediBuddy and CII. The report, which was released on Friday, also highlighted that a massive number of job seekers consider employee wellness programmes crucial in their decision-making process. The report 'Mapping India's Corporate Health and Wellness Landscape' emphasised the importance of customised wellness programmes based on employee demographics and personalised prevention strategies. As per the report, 71 per cent of employees spend an average of 5 per cent of their annual income on out-of-pocket healthcare expenses.

Cassa Depositi e Prestiti SpA (CDP), an Italian state-owned bank, and Intesa Sanpaolo, Italy’s largest banking group, have completed first digital bond issuance on blockchain. The issuance of the security was carried out via Polygon (MATIC) blockchain.

Over the past year, one technology that has grabbed the attention of technologists worldwide is DePIN (Decentralized Physical Infrastructure Network). Several big-name VC firms have also injected billions of dollars into this space, resulting in the total market capitalization of DePIN tokens breezing past the $25 billion threshold earlier in February.

Persistent Systems fell 7% in Friday’s early trade to the day’s low of Rs 4539.95 after the company reported a 2.8% quarter-on-quarter (QoQ) decline in its profit after tax (PAT) to Rs 315.32 crore for the quarter ended June 30 2024. However, on a year-on-year (YoY) basis, PAT rose 34% against Rs 228.77 crore in the first quarter of FY24.

But the global woes may not impact the government’s plans, says Shirish S Garud, Consultant, T.E.R.I (The Energy and Research Institute). In an interaction with ET Digital, he explains how the wind energy industry has gradually evolved in the country and the trajectory it is taking now. Edited excerpt: ET: How has wind energy development evolved over the years? SG: The wind energy development in India started in the early 1980s when the government asked PSUs like BHEL to invest in these projects. In 1993, the government came out with a policy on the tariff of wind power plants that are to be connected to the grid. This was a proactive one that gave some fixed tariff and annual increment in this tariff.

manufacturing hub providing resilient supply chain options for leading manufacturers across industry sectors. Technology enablement is critical to enable efficient and reliable supply chain operations and it is imperative for the government of India to strengthen nation’s digital backbone.

With the post-election and pre-Budget rally taking Sensex towards uncharted zone of 81,000 level, Nimesh Chandan, CIO, Bajaj Finserv AMC, says elevated valuation level is forcing him to think contrarian. «Due to high valuations in certain pockets of the market, we may see some sector rotation by investors in the coming months,» says the Dalal Street veteran. In this chat with ETMarkets, he explains what to expect from the Budget, risks for investors and view on retail-favourite PSU stocks. How are you approaching the market ahead of the Budget? Do you think the bias towards capex, infra and PSU related themes will remain intact after July 23? We prefer to be cautious and think contrarian considering the current levels of the market and the valuations. We believe the government is going to come out with a budget that continues to focus on capex and infrastructure development. Additionally, we expect some stimulus to the rural economy and some tax incentives to the low-income groups. This should be favourable for the consumer sector in the country.

Mint. “It is tethered to reality. It is tethered to the fundamentals, and that is where the market is deriving its energy from." India’s stock market is finally at a vantage point and will be vastly superior in the coming decade, Shah added.

State Street is reportedly evaluating the introduction of a stablecoin and deposit token to facilitate blockchain-based payments and settlements.

WGC) has made presentations to the Union finance ministry and Reserve Bank of India to come out with appropriate guidelines and regulatory framework for digital gold business in India. The council has asked the authorities to introduce checks and balances to ensure that the gold bought digitally by the customers is protected. It has also asked to put in place a transparent way to buy and hold gold digitally.

Ashneer Grover, founder of BharatPe and Third Unicorn, advocates for a streamlined hiring process centered around the principle of "hire fast, fire fast." Speaking on the podcast 'Limitless with Ishan Sharma,' Grover argued that traditional lengthy hiring procedures and prolonged notice periods waste valuable time and resources, ultimately hindering company growth. The Traditional Hiring Process: A Time Sink Grover criticizes the conventional approach to recruitment, which involves multiple rounds of interviews and extended notice periods. «What I have basically understood about hiring, and a lot of people don’t agree with this thought, it’s hire fast, fire fast,» Grover stated. He emphasized that the extensive time spent in hiring is often counterproductive, as candidates tend to be on their best behavior during interviews, making it difficult to gauge their true performance.

Haruko, a digital asset investment management platform, has raised $6 million in a funding round to help fuel its expansion into Southeast Asia.

Warner Bros Discovery, the owner of CNN and HBO, has discussed a plan to split its digital streaming and studio businesses from its legacy TV networks in a bid to boost its flailing stock price, the Financial Times reported on Thursday. The media giant's shares jumped 6.5% in premarket trading.

Logistics industry is expecting steps that will further improve ease of doing business in the country, incentives and benefits for green initiatives in the sector, among others, in the Union Budget for 2024-25, which is set to be presented by the Finance Minister Nirmala Sitharaman in the Parliament next week. «There is significant scope to improve the ease of doing business by streamlining regulations and adopting digital processes. Simplifying and ensuring consistency in GST administration, greater clarity and standardisation in interpretation of customs procedures, and TDS regulations are crucial steps in this direction,» said R S Subramanian, Senior Vice President & Managing Director, DHL Express India. «I am optimistic that the Budget will prioritise infrastructure and logistics as critical levers of growth, consistent with the interim Budget,» said Rizwan Soomar, Chief Executive Officer and Managing Director, DP World North Africa and India Subcontinent.

Shimla: The Himachal Pradesh Police has arrested one of the masterminds of a Rs 2,500-crore cryptocurrency scam, which was unearthed in the state in 2022, from Kolkata, officials said on Thursday. Accused Milan Garg (35), a resident of Meerut in Uttar Pradesh, was apprehended on Wednesday night from the Netaji Subhash Chandra Bose International Airport, Kolkata while he was trying to flee to Bangkok in Thailand, they said. Garg, who was allegedly involved in designing and marketing of a fake cryptocurrency, was later brought to Shimla, Deputy Inspector General of Police (DIG), Northern Range, Abhishek Dhullar told. Garg, who earlier fled to Dubai after the scam came to light, had returned to India in June and was again leaving the country when he was detained at Kolkata airport. The accused has been arrested and brought to Shimla, said Dhullar, who is heading an SIT probing the case.

Goldman Sachs is turning to Main Street investors to boost its fee revenue. The bank plans to offer some of the sophisticated investment strategies that it has long reserved for its deep-pocketed clients to customers of robo-adviser Betterment. Goldman is structuring portfolios for everyday investors that are meant to help them save money on their taxes, in part by moving their cash from ultrasafe bank accounts to fixed-income exchange-traded funds that involve more risk.

As image-generating AI continues to evolve, artists are increasingly fighting against what they see as an existential threat to their craft

The round was led by Theory Ventures with participation from seed investors Kleiner Perkins and Amplify Partners, bringing Allium’s total capital raised to $21.5 million.Allium provides enterprise-grade, quick, and simple blockchain data to clients that helps them answer strategic questions, identify investment and growth opportunities, manage business reporting, and power their applications.The firm is hoping to capitalise on the increase in blockchain adoption and the proliferation of different networks, which will see the volume of data surge exponentially. The sheer amount and complexity of blockchain data today makes it tedious and technically challenging to understand and report activity, invest in opportunities, and build products, argues the startup.

AI-powered tool that delivers swift information from various data sources, such as CCTV feeds, images, and audio related to crime and criminals.Integrated into a digitized database of 1,50,000 criminals, it offers customised information based on specific prompts and features such as facial recognition and speaker identification."This AI-powered tool will not only enhance public security but also improve our efficiency in maintaining law and order by providing real-time alerts. By facilitating faster retrieval of information and streamlining investigative processes, Crime GPT will greatly aid ongoing criminal investigations.

Peter Thiel’s Enhanced Games promise to be an annual sporting event that lets athletes use performance-enhancing drugs, nicknamed the pro-doping Olympics. The games have captured imaginations and money. But behind them is an unsettling effort spearheaded by tech billionaires like Thiel to use science and technology to enhance the human race.