Digital Financial News

budget, global markets are buzzing with anticipation. Stakeholders in the urban development sector are especially hopeful for policy reforms and fiscal support from the Central Government under Modi 3.0. Following an 11% increase in infrastructure capital allocation in the interim budget, significant advancements in urban development are expected. With India’s urban population projected to reach 600 million by 2030, the demand for quality infrastructure and basic amenities in cities is soaring. The focus on urban development in India is anticipated to continue, with initiatives aimed at enhancing infrastructure and the quality of life in urban areas. The Government of India has been actively emphasising the enhancement of infrastructure, housing, and technology integration to boost overall urban living standards. Accordingly, there are several key expectations of the industry stakeholders related to the advancements in the urban development sector in India from the upcoming Budget 2024, which may be summarised as below -

Ratings agency Moody’s has announced it will be involved in the Monetary Authority of Singapore (MAS) backed project Guardian by providing risk management services for tokenized fixed income products.

Data tracked by PMSBazaar.com showed that 55 AIF funds across categories have risen more than 6.6% in June 2024 compared to 6.5% rally seen in the Nifty50 in the same period.

health insurance companies. This single-window interface is expected to replace the current system which traditionally relied on manual paperwork and required a lot of effort from policyholders and the hospital.Under the new system, a common digital standard format will be used to file the claim irrespective of the insurance company. Moreover, NHCX will facilitate the exchange of health claim information between all stakeholders in a completely digital way.

Sachin Shah, Executive Director & Fund Manager, Emkay Investment Managers Limited. In an interview with ETMarkets, Shah said: “But as I said, the more important thing is the devil is in the details. How are you going to manage your fiscal deficit? Is it at the cost of capital expenditure?,” Edited excerpts:

Hester Peirce, the commissioner at the Securities and Exchange Commission (SEC), says that Ethereum exchange-traded fund (ETF) staking is open for reconsideration.

TikTok owner ByteDance can’t avoid the bloc’s crackdown on digital giants, a European Union court says

French drugmaker Sanofi plans to invest ₹400 million (about ₹3,600 crore) over the next six years to expand its global capability centre (GCC) in Hyderabad by increasing the headcount and further developing the facility. Of the total, ₹100 million will be invested by the end of 2025. Over the next two years, Sanofi plans to more than double the headcount at the Hyderabad GCC to 2,600 employees, making the centre the largest of its four hubs globally. The company employs about 1,000 people in Hyderabad. The Hyderabad GCC will support Sanofi's global operations spanning commercial, manufacturing, supply chain research and development (R&D) and digitalisation. The GCC in India will help the company bring some of outsourced functions in-house, giving it more control over critical operations like manufacturing, commercial and R&D.

Bitcoin (BTC) has continued its positive price movement this week, briefly rising above $65,000 on Wednesday. The cryptocurrency asset is now up roughly 12% since Friday amid improved odds for crypto-friendly candidate Donald Trump to be re-elected president and the upcoming approval of spot ether (ETH) exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

Competition law practice at law firm Trilegal Nisha Kaur Uberoi is set to join law firm J Sagar Associates (JSA) along with her team of 25 attorneys including two partners Harshita Singh Parmar and Pranav Satyam. An alumnus of the National Law School of India University and the National University of Singapore Uberoi has also worked with firms such as AZB & Partners and Cyril Amarchand Mangaldas. “This move will greatly enhance and consolidate the firm’s existing domain in Competition Law, and further bolster our market-leading corporate and disputes practices,” said Amit Kapur and Vivek K. Chandy, joint managing partners at JSA in a joint statement. “The addition of Nisha and her team to our existing practice in JSA is a testament to our commitment to meeting the complex antitrust and competition needs of our clients globally.”

July is set to be a transformative month for the cryptocurrency world, as the popular crypto BlockDAG is all set to unmask its executive team and the CEO on July 29th. As BlockDAG enjoys the title of the best long-term crypto investment, the upcoming team unveiling has boosted BlockDAG’s presale, as it nears $60 million. These milestones showcase the network’s robust capabilities and innovation.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. In the last decade, India’s gross domestic product (GDP) has nearly doubled to $3.5 trillion, showcasing our resilience as one of the world’s fastest-growing major economies. As we envision Viksit Bharat by 2047, increasing our economic growth from 8% to 12% could transform India into a $50 trillion economy. The global landscape is witnessing rapid technological advancements, particularly in artificial intelligence (AI) and new energy.

1. Samsung 236 L, 3 Star, Digital Inverter, Frost Free Double Door Refrigerator The Samsung 236 L Frost Free Double Door Refrigerator is designed to provide efficient and powerful cooling with a capacity of 236 liters, suitable for families with 2-3 members. It features a Digital Inverter Compressor, which ensures greater energy efficiency, less noise, and long-lasting performance while consuming 50% less power.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. To be a catalyst for India’s ambition of becoming one of the top three global economies by 2050, the manufacturing sector must adopt a sustainable and inclusive model that decouples growth from emissions for a developing economy of this scale. This will lower our total cost of societal development.

The acqusition of Elwood Capital Management (ECM) is another plank in Zodia Markets' ambition to build a fully-rounded digital asset business.Usman Ahmad, co-founder and CEO of Zodia Markets, says: "This acquisition is a significant progression to create greater diversification in our service offering and footprint, enabling scale and accelerating product capability. "Acquiring a successful, established business with a similar regulatory-first mindset allows us to extend our offering to the clients we will welcome and provide our existing clients with a broader suite of capabilities and value."For Elwood, the sale marks a strategic shift to focus on its institutional-grade SaaS products and services, including execution managment and portfolio and risk management.Chris Lawn, CEO of Elwood, comments: "The sale of our OTC trading business supports Elwood's strategic plan to build a world-class end-to-end EMS and PMS software platform and allows us to fully dedicate our resources to the SaaS business.

Cooperation among Cooperatives" initiative in two districts on a pilot basis, the Gujarat government has decided to implement it across all 33 districts of the state, officials said on Wednesday. The initiative aims to enhance the cooperation among Gujarat's thousands of cooperative societies by centralising their bank accounts and deposits in various district and state cooperative banks. The initiative was envisioned by Union Cooperation Minister Amit Shah and launched on a pilot basis in Banaskantha and Panchmahal districts of Gujarat, the state government said in a statement.

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. It is now proven beyond doubt that India needs a new imagination of how to govern her cities. The last decade finally saw the emergence of the city as a political agenda and a significant increase in investments in urban infrastructure and services. But the narrowly focused, mission- and scheme-led development of our cities across both the Union and state governments is not delivering the desired results.

Jade City, a real-world asset (RWA) platform, is planning to launch its token by the end of the year, with the firm aiming to change the way precious commodities are accessed and traded.

₹50,000 crore till then. That said, the upcoming budget is likely to include substantial measures to bolster the country's data centre ecosystem, underscoring the government's commitment to advancing digital infrastructure here.

Crypto derivatives trading firm Wintermute Asia has added spot and CFD product access to oneZero network.

Panasonic Avionics on Wednesday opened a new software design and development facility in Pune. The new facility, inaugurated by the Minister of State for Civil Aviation, Murlidhar Mohol, is the first in the country by Panasonic Avionics Corporation dedicated to supporting the development and delivery of IFEC solutions. The facility employs over 200 skilled engineers in the beginning with growth plans in place to scale it up further to support the increasing demand from airlines for these solutions, the company said.