Digital Financial News

Prateek Pant, Chief Business Officer of WhiteOak Capital Asset Management, does not expect major announcements in this budget. The government will likely maintain a path of policy, continuity focusing on higher capex growth, he said in an interview with MintGenie. Infra, housing, real estate, and home improvement sectors are likely to be in focus in this upcoming budget.

Wheel of Name has emerged as a versatile and engaging tool for boosting participation, driving decision-making, and adding an element of fun to various activities. However, to truly harness its full potential, users must understand how to customize their BravoWheel to suit their specific needs and desired outcomes. This article explores the origins of the spin the wheel concept and the unique capabilities of the BravoWheel platform.

media deals in India are giving the likes of Unilever Plc and Procter & Gamble Co. a reason to worry: If entertainment goes the way of telecom and ends up effectively as a duopoly, will it become costlier for large consumer brands to reach 1.4 billion people? The first of these two transactions may come as early as Monday and would see Walt Disney Co. enter into a non-bidding agreement with Mukesh Ambani to merge their media businesses in the country.

This series, the Class of 2024, aims to simplify the way to navigate the world beyond the campus by talking about the sectors with opportunities, ways to use online platforms and preparing resumes, among other things. This is the third of the 10-part series, offering a look into how the job market is shaping up in the immediate future. It is no secret that the idea of going to college for most people is to find a job. But that is a vague goal. Your aim becomes sharper only when you narrow the search by using parameters such as skill sets, requirements, remuneration and growth prospects, among others. The first step is to look at which sector suits you the most. Let us start with technology as it has over the past few decades fuelled the dreams of millions of youngsters. This year, though, the talent demand in the sector has been muted when compared with previous years.

₹42.3 lakh spend on Swiggy, spurring speculation on X (formerly Twitter) about the possibility of this user being rival Zomato. In the world of food delivery services, Zomato and Swiggy stand as direct competitors. Their core business is delivery of food, linking a vast array of restaurants and cloud kitchens to a shared customer base.

China's video games market returned to growth this year as domestic revenue rose 13% to 303 billion yuan ($42.6 billion), putting Beijing's 8-month crackdown two years ago in the rear-view mirror. Industry association CGIGC said at a conference in Guangzhou on Friday the industry's domestic revenue this year reached over 300 billion yuan for the first time. It also said the number of gamers in China grew 0.61% to a record 668 million, which is more than North America's entire population.

Over the past decade, India has been one of the fastest growing economies in the world and is becoming the most sought after investment destination for foreign investors. The GIFT International Financial Services Centre in Gujarat is a step in the direction of attracting higher foreign capital. Abhishek Bansal, Chairman, Abans Group believes that aligning policies and regulations with international standards, is one of the essential aspects to drive investments. “One crucial aspect for enhancing foreign investors’ interest in GIFT City is achieving goal congruence between national regulatory agencies and the GIFT regulator,” says Bansal. Such an approach ensures investor-friendly policies that meet global expectations and foster confidence and interest among foreign investors in GIFT City, he said. Edited excerpts: Notwithstanding certain regulatory hiccups, the last couple of years has been quite good for the AIF industry. Can you share some of the trends to watch out for the segment in 2024? Over the past years, the AIF industry in India has defied regulatory challenges, witnessing significant growth. Investors, including institutions and high-net-worth individuals, are increasingly drawn to alternative investments, seeking diversification beyond traditional assets. Sector-specific funds focusing on areas like technology and healthcare have gained popularity, offering targeted exposure and potential high returns.

A top Russian politician says that Moscow and Beijing could begin using their CBDCs – the digital ruble and digital yuan – to make payments as early as 2024.

Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Stanley Black & Decker, Green Dot, Deckers Outdoor, and EOG Resources.

Sandip Sabharwal, asksandipsabharwal.com, says “holding some amount of cash is prudent potentially in sectors where the run-up has been too swift or where someone has an overexposure and then wait for some corrections to allocate that. But the overall economic outlook is positive, so we cannot go very hugely into cash. So, maybe a 10-15% cash position could be potentially prudent and then in between, opportunities will keep on coming up because all stocks do not correct at the same time.” It is almost like the market is believing that the next RBI policy will see a rate cut. Is there a correlation? Should one also anticipate a rate easing by the RBI? It looks highly unlikely that we are going to see a rate cut anytime soon. The scenario that is building globally right now is that the rate hike cycle clearly seems to have ended and once that happens, we will see that the dollar index peaks out, flows start into emerging markets, etc. I think that is the phenomenon we would see.

Nilesh Shah, MD, Kotak AMC, says “India today is trading at a premium valuation to others as the Spider Man movie said “with great power comes great responsibilities.” With higher valuation, comes higher expectations. Our headwind will be to deliver on those expectations. We are like Suryakumar Yadav or Virat Kohli, we are supposed to score a century every time we come to bat; a 10-run, 30-run cameo is not good enough.” Just taking a cue from your last tweet, who is going to win the race? Valuation or past performance? That is a very-very tough question.

Maneesh Dangi, Founder, Macro Mosaic Investing & Research, says “we are entering a very longish bond rally and much of the pain of 2022 would unwind in 2024… On currency also, we are perhaps entering a very longish dollar bear market. And there is a small chance that the dollar actually does somewhat well in the US recession, but otherwise in a very-very long US bear market and that will actually help us emerging market currencies pretty significantly.” What a change in stance by the Fed! Were you expecting it? Yes, incidentally, I sort of made this prediction on your channel a week ago. I have made this point a couple of times in the last two months that we are closer to the Fed pivot, closer to a deep dive in US interest rates. People often think that more of today will continue tomorrow but at times, of course, these things change and typically rate these oscillating variables. I was expecting this, I have written about it extensively and I think rates in the US are headed much lower from where they are today. They have already rallied quite substantially but a significantly rally ahead. A US economy cannot absorb such high interest rates and the Fed had to recognise and they did once they have begun to side that inflation is sort of in control right now.

Money from NRE account can be easily transferred out of India. However, the same cannot be said for the NRO account. There are certain document requirements, approval needed from Reserve Bank of India (RBI) and annual limit that must be adhered to in order to transfer money from NRO account out of India. Read on to know the rules an NRI must follow to take the NRO money out of India.

Anil Kothuri, MD & CEO, Fedbank Financial Services, says: “We intend opening 50 branches this year and most of which are done. And all the branches we open this year are focused on selling small mortgages. So, that branch count is slated to go from 130 to 180 okay. Now, every year we will continue to open branches and expand. Our norm is to open something like 50-60 branches every year. So, our branch count will increase by roughly 8% from here on every year for the foreseeable future. That will help us expand our presence in places where we are not there. We will enrich our presence in northern India and then foray eastwards.” You have reached an AUM of around Rs 10,000 crore and the growth was also strong at 38% on a year-on-year basis. But going forward, do you think the base effect will come into picture or do you expect this pace of 35-40% AUM growth to continue in the coming years? What we are guiding is that our AUM will grow by at least 25% year-on-year from here on.

artificial intelligence rules aimed at establishing guardrails for the rapid development of AI and setting a global standard in technology regulation. The long road to the EU AI Act started in early 2021, with multiple drafts passing between the bloc's three political arms. It will take many more months before it becomes law and two more years before its impact will be felt by industry.

“Alternative investments through (AIFs) typically make up about 15-20% of their overall profile," Gautami Gavankar, CEO, Estate Planning and Trusteeship at Kotak Mahindra Trusteeship Services Limited. In an interview with ETMarkets, Gavankar said: “PMS has always been a part of the industry, but for the last couple of years, there has been a momentum in AIF,” Edited excerpts: We are inching towards the last month of 2023 – any key learnings from the wealth space that you have come across and will hold true in the coming years as we all know that we live in a dynamic environment? What are the requests that you are getting from your clients when it comes to managing wealth – are they open in taking more risks compared to the past and exploring new products? The average age of HNI and UHNI investors has been dropping, accompanied by significant wealth creation in recent years.

“Risk management is embedded in our Investment Process. By focusing on price-value gaps, we strive to achieve a balance between risk and reward," Tridip Pathak, Executive Director and Portfolio Manager at Avendus Olivo PMS. In an interview with ETMarkets, Pathak said: “We have an investment process which helps us identify opportunities from our ~145 stock coverage universe at any point in time,” Edited excerpts: Thanks for being part of the segment. You are managing over 600 cr in AUM – please take us through the portfolio performance? As of today, our PMS Strategy has delivered ‘on an aggregate basis’ a CAGR return of 21.7% since inception in August 2020, 19.8% over the last 3 years, 13.7% over the last 2 years and 28.4% over the last 1 year.

By Jessie Pang and James Pomfret

Elon Musk's social media platform X, formerly known as Twitter, took a step closer to offering payment features after receiving a money-transmitter license from a 13th U.S. state this week. The approval by Pennsylvania, which occurred on Monday according to a public licensing database, has not been previously reported. It grants X the ability to facilitate money transfers and paves the way for the company to allow users to send money to one another, similar to PayPal's Venmo.

By James Pomfret, Greg Torode and Jessie Pang

Hong Kong-based firms have made the first “cross-border” commodity payments with the Mainland Chinese digital yuan, as the CBDC takes its first international steps.