Digital Financial News

announced, " This is in continuation to the disclosure made by Infosys via a letter dated September 14, 2023, titled “Company Update" with respect to a Memorandum of Understanding with a global company which was subject to parties entering into a Master Agreement. The global company has now elected to terminate the Memorandum of Understanding, and the parties will not be pursuing the Master Agreement." The agreement between Infosys and the company was planned as a 15-year commitment, with the Memorandum of Understanding (MoU) signed on September 14, 2023. "Infosys has entered into a Memorandum of Understanding with a global company to provide enhanced digital experiences, along with modernization and business operations services, leveraging Infosys platforms & AI solutions.

HFCL (Himachal Futuristic Communications Limited), a company with diverse operations in telecom infrastructure, has experienced a remarkable surge in its stock value this month. The shares have demonstrated the strongest monthly performance since June 2021, registering a notable gain of 26% thus far. The stellar performance has propelled the stock to a gain of 301% over the past three years.

ride-hailing apps have mushroomed in India in segments such as cabs, autorickshaw and bike taxis. The emergence of these apps and tackling the competition have become a matter of routine management discussions within incumbent operators Uber and Ola, said people in the know. New apps such as InDrive, Namma Yatri, Yaary, BluSmart and Rapido (in the cabs segment) are primarily looking to address gaps left by the larger players in terms of customer service and driver-partner satisfaction, these people said. Meanwhile, Uber and Ola have also moved to solve some of those service problems, like driver cancellations and supply retention.

Rubrik Inc is eyeing acquisitions as it expands India business cashing in on the large-scale data and digital growth story amid rising number of cyber attacks. “We are very active in both organic and inorganic developments… Having a large presence in India gives us an unfair advantage, not only (on) the scale of talent, but also the ability to acquire and absorb companies here in India… We are looking at great ideas and products around cybersecurity, AI (artificial intelligence) and data security,” Bipul Sinha, chairman, cofounder and CEO of Rubrik, told ET.

executives from leaving their well-paid jobs and taking a dip into entrepreneurship in 2023. Senior executives across functions of technology, engineering and product took the plunge into exploring the next frontier in fintech, healthcare and even artificial intelligence.

Wipro has filed a complaint against a former senior executive for violation of a non-compete clause in his employment contract by joining Wipro’s direct competitor Cognizant before August this year. In its complaint, Wipro said Mohd Haque, who quit in June this year, had agreed to certain restrictions on his post-employment activities, including prohibition of work for a small set of Wipro competitors including Cognizant, for 12 months after his employment ended. Upon Haque’s promotion to the role of Wipro’s senior vice president (SVP) and localisation as a US employee, he was eligible to receive more than $1 million in equity awards over many years, said the complaint filed in a US court.

RIL Reliance Industries Ltd (RIL) and Walt Disney Co signed a non-binding term sheet in London last week to move ahead with plans to create India’s largest media and entertainment business, ET reported. Aurobindo Pharma The US FDA conducted a pre-approval inspection (PAI) at a new injectable facility of Eugia US Manufacturing LLC (a step-down wholly owned subsidiary of Aurobindo Pharma). The inspection closed with 10 observations. Vedanta Vedanta arm Bharat Aluminium Co (BALCO) received Rs 84 crore GST demand from Bilaspur authorities for FY17-18 on account of various interpretational issues. Infosys A global company terminated the MOU for a $1.5 billion deal with Infosys.

In the unpredictable landscape of cryptocurrency, Bonk (BONK) has emerged as a remarkable new entrant. As the first dog-themed coin on the Solana blockchain, BONK has swiftly ascended to an impressive $1 billion market capitalization, a milestone achieved within an astonishingly short period since its launch on December 25, 2022.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

technology company Amagi Media Labs, which was last valued at $1.4 billion, is hoping to become profitable in the first half of 2024, the company's cofounder said. «We are just about a couple of months away from becoming profitable. We hope to become profitable in the first half of 2024,» Amagi Media Labs cofounder & CEO Baskar Subramanian told ET. Amagi's growth rate has tapered as its revenue base has broadened, with annual recurring revenue (ARR) topping $100 million amidst global movement among broadcasters to shift from hardware to cloud-based distribution. «We've been growing almost 100% a year over the last 3-4 years.

Solana (SOL), a key player in the cryptocurrency market, has shown remarkable resilience and upward movement, maintaining a strong position around the $122mark. This surge reflects the broader positive sentiment enveloping the crypto market, particularly underscored by Bitcoin’s (BTC) stable hold above the $43,000 level during the festive season.

In the ever-evolving cryptocurrency landscape, Axie Infinity’s AXS token has made a significant leap, soaring over 30% to reach around $10.7. This impressive surge has catapulted AXS to the pinnacle of gaming cryptocurrencies, surpassing BEAM with an exceptional market capitalization of $1.4 billion.

In a stunning display of market dynamics, Pepenguins (PEGUIN/WETH) experienced an explosive surge of 400%, while another emerging token recently hit the $5.9 million mark, shaking up the crypto world.

AI transcription and note-taking is an area that is seeing adoption in almost every application we interact with today. But is it enhancing employee productivity? ET explains. How is AI transforming note-taking and transcription?

Infosys share price impact: Infosys shares are anticipated to experience substantial volatility in Tuesday's trading session following the company's loss of a multi-year contract valued at USD 1.5 billion. Analysts expect shares of Infosys to open in the red in tomorrow's session.

Gift cards make great stocking stuffers — just as long as you don't stuff them in a drawer and forget about them after the holidays. Americans are expected to spend nearly $30 billion on gift cards this holiday season, according to the National Retail Federation. Restaurant gift cards are the most popular, making up one-third of those sales.

The world of cryptocurrency has seen a surge in popularity over the past few years, with many investors turning to digital currencies as a way to diversify their portfolios. However, with the increasing number of cryptocurrencies on the market, it can be difficult to make informed investment decisions. This is where AI technology comes in.

In the dynamic world of cryptocurrencies, the emergence of new and innovative tokens regularly reshapes the market landscape. Shiba Inu (SHIB) has been a remarkable success story, capturing the imagination of investors worldwide. However, as we move towards 2024, a new contender is emerging, poised to rival and potentially match SHIB’s market cap: Retik Finance (RETIK). This ambitious DeFi platform is not just another cryptocurrency; it represents a paradigm shift in how digital finance is perceived and utilized.

Japan‘s cabinet has recently approved a key change in the fiscal 2024 tax policy, removing the tax on unrealized gains for corporate-held crypto assets, according to Nikkei.

XRP, Ripple’s native token, has resumed its upward movement, rising by over 2% over the past day generating a whopping $1.19 billion trading volume.

MD and CEO, sources aware of the matter said. The Reserve Bank of India (RBI) has already approved the appointment and Kalra has assumed office as well.