Digital Financial News

Google to file its reply to appeals filed by KukuFM, Shaadi.com and the Indian Broadcasting and Digital Foundation (IBDF) against a Competition Commission of India order. The antitrust regulator in a March 20 order had denied them interim relief in a case over the fee levied by the tech giant for listing apps on its Play Store. The appellate tribunal will likely take up the matter on May 24.

On the BSE, Intellect Design(down 14.54 per cent), Mahaan Foods(down 14.10 per cent), Suraj Ltd(down 13.14 per cent), Parmax Pharma(down 11.52 per cent) and Gujarat Intrux(down 10.30 per cent) stood among the top losers in today's trade.

companies embrace digital trends. ER&D is the process of turning ideas into tangible products, services, and processes. Now, this segment is evolving from just design and deployment to include maintenance, regular updates, and continuous data analytics.

Embattled crypto lender BlockFi announced Thursday that it plans to close its web platform this month, and is partnering with Coinbase to distribute funds to clients.

Mint. “Investors are looking to fund companies and entrepreneurs who are willing to be not only just digital D2C but omnichannel." There are currently about 10,000 D2C brands in India. Buying behaviour changed during covid, and in 2021 about 100 Indian D2C companies raised more than $2.1 billion dollars.

₹85 crore in Q4FY24 as against ₹91 crore in the corresponding quarter last year. The firm informed that its net profit was without considering the one-off exceptional item of MAT credit write-off of ₹12.51 crore. Read here: SBI shares extend gains as analysts remain bullish after upbeat Q4 results Meanwhile, its total revenue for the quarter under review fell 1.4 percent YoY to ₹612 crore on the back of the termination of the Government e-Marketplace (GeM) contract.

Ahead of India’s inclusion in the JP Morgan GBI-EM Global Index Suite, the majority of the clients of the index have their accounts set up to trade in Indian government bonds, with any “teething issues” related to operational readiness rather than barriers to entering the local market, Gloria Kim, Managing Director, Global Head of Index Research & Co-Head of Global ESG Research, J.P. Morgan, said to ET. Edited excerpts: Ahead of India’s June 28 inclusion in the GBI-EM Global Index Suite, how have operational metrics evolved in the country’s bond markets? Are global clients prepared for the process? Gloria Kim: Based on the annual Index Governance Consultation process, market feedback so far has been largely positive. Majority of our clients already have their accounts set-up to trade in the IGB market. Moreover, we see positive market momentum as there are now several India-focused Bond ETFs and UCITs funds offering intra-day liquidity. As always, there are still teething issues when entering a new market, however we have found these to be related to mostly operational readiness and flexibility of counterparties and custodians rather than barriers to entry.

Bitcoin’s subtle rally to $61,425 signals a potentially stabilizing market. As Bitcoin ETFs like Grayscale and Bitwise see renewed inflows, totaling $11.54 million recently, optimism grows.

Proximus is aiming to double its revenue from the digital communications business to $3 billion and operating margins to 15% over the next 3-4 years after buying Route Mobile in India’s biggest in-bound FDI deal in the domestic cloud communications industry. “We are extremely excited about the synergies emerging out of this deal, that is, leveraging Route Mobile’s India success story to grow our communications business in USA and Europe markets, while also taking our affiliate company Telesign’s digital fraud prevention solution to enterprises in India,” Guillaume Boutin, CEO, Proximus, told ET Thursday. Proximus has completed the acquisition of 57.56% of RML’s shares held by promoters for EUR 643 million (Rs 5,922 crore) in cash.

Chartered accountants (CAs) are increasingly facing stiff competition from STEM graduates in getting into consulting firms that are becoming heavily dependent on technology for client service and regulatory compliances, said industry executives. STEM refers to science, technology, engineering and mathematics.

₹22.29 crore, according to a statement from a Mumbai police official on May 9, PTI reported. A criminal case involving charges of cheating, forgery, and breach of trust was lodged at the Cuffe Parade police station following court orders. The complaint, leading to the FIR, was filed by a 43-year-old assistant vice president of Axis Bank, PTI reported.

Google’s lawyers have opposed the CCI order on alleged market dominance and anti-competitive practices concerning its Play Store. At Wednesday’s hearing, Google's lawyers said the CCI order was “overbearing", adding the penalty is based on assumptions, and does not prove how Google’s practice has been anti-competitive. A day earlier, Google had argued that its Play Billing system accounts for a tiny share of the country's overall payments industry, and that only 3% of all Play Store apps face commissions.

European Union as «consequential for the world as well,» External Affairs Minister S Jaishankar said the EU is not only «our largest economic partner,» but the ties run «very deep, spanning many domains.» Extending felications to EU's Ambassador to India, Herve Delphin, Jaishankar said, «I think today the relationship between India and the European Union is not only consequential for each one of us but also for the world as well. The EU is our largest economic partner, but it is more than that.» «It is an entity with which we have, really, a very deep relationship spanning many domains...not just in the relationship between New Delhi and Brussels but in the regional and sub-regional formats in which we engage each other and in a range of institutions that we both are members of and where we collaborate with each other. And of course, an important element of that is economic relationship,» Jaishankar said in his address at the Europe Day Celebrations here in New Delhi.

acquisition activities, with several small and midsize firms announcing deals in the past four months in segments ranging from consulting and startups to engineering services, data and analytics. Most of them are making acquisitions to strengthen their capabilities so that they do not miss out when the demand for technology spending, especially in discretionary projects, returns, say analysts. Big IT firms such as Infosys, HCLTech, Wipro and Cognizant too have announced M&A deals in recent months, but the numbers were fewer compared with their smaller rivals.

Fintech startup Zeta, which builds technology backend for banks, has launched a new stack to support credit line-based transactions on Unified Payments Interface (UPI). Zeta cofounder Bhavin Turakhia expects credit disbursals on UPI to touch a trillion dollars by 2030, and Zeta wants to process 50% of those transactions, he told ET. The firm will work as a technology service provider (TSP) for financial institutions.

Grayscale, the company behind the world’s largest Bitcoin (BTC) ETF, saw flat revenues in Q1 despite non-stop outflows from its world-famous fund throughout the quarter.

To commemorate the 25th anniversary of His Majesty Otumfuo Osei Tutu II’s reign, Ghana Post launched a collection of “Crypto stamps” linked to non-fungible tokens (NFTs) on May 9. The initiative blends Ghanaian cultural heritage with cutting-edge blockchain technology, offering a unique way to celebrate the King’s Silver Jubilee.

Council of Economic Advisers Chair Kevin Hassett weighs in on the Fed's monetary decision, consumer credit data, oil prices and anti-Israel protests.

Chris Pine enters into the realm of directing with his latest project, "Poolman," a comedy-mystery film hitting theaters this week. In his directorial debut, Pine portrays Darren Barrenman, a Los Angeles-based pool cleaner embroiled in a quest for truth spurred by a mysterious woman. Alongside Pine, the star-studded cast features Annette Bening, Danny DeVito, and DeWanda Wise, promising a captivating cinematic experience.

Not Another Church Movie hits the screens, fans of the parody and comedy genre can't hold their excitement to watch it in theatres. As Jamie Foxx, Mickey Rourke, and Kevin Daniels come together in this one-and-a-half-hour film, expect some hilarious scenes that will send you into a laughter fit. According to reports, the major part of the film was shot in Savannah, Georgia, which means it will have a sophisticated outlook of this US city.

Proximus is aiming to double its revenue from the digital communications business to $3 billion and operating margins to 15% over the next three-four years after buying Route Mobile in India's biggest in-bound FDI deal in the domestic cloud communications industry. «We are extremely excited about the synergies emerging out of this deal, that is, leveraging Route Mobile's India success story to grow our communications business in USA and Europe markets, while also taking our affiliate company Telesign's digital fraud prevention solution to enterprises in India,» Guillaume Boutin, CEO, Proximus, told ET on Thursday. Proximus has completed the acquisition of 57.56% of RML's shares held by promoters for ₹643 million (₹5,922 crore) in cash.