Digital Financial News

Zodia Custody, a crypto custody firm backed by Standard Chartered, has announced the launch of a new product intended to facilitate seamless crypto transfers for institutional investors. 

Nikhil Nigania, Director, AB Bernstein, says “we are still in the early stages of a multi-year cycle in the power sector. We think some of these demand supply challenges will continue for some time. The receivables should stay good. And the renewable commitment has been to triple the capacity by 2030. It is still early in the cycle. It looks like good times are ahead for the sector.” Give us the big picture. Why is power along with its ancillaries so hot in the market? What has happened in the power sector is that we had a decade of poor performance for the sector. Now suddenly two things are happening. One, we are in a tight power demand supply situation. Hence, we are seeing deficits in power. And second, at the same time, we are trying to do energy transitions as well. And maybe to a third point to add to that, is that receivables for the power sector companies have also improved.

Rajeev Chandrasekhar on Thursday said that the digital economy will contribute 20 per cent of India's gross domestic product (GDP) by 2026. The Union minister of state for electronics and information technology, skill development and entrepreneurship was speaking at the inaugural function of 'Startup Conclave 2023', organised by the Gujarat government at helipad ground in the state capital.

Tata Motors on Thursday said it has partnered with HDFC Bank to provide digital financing solutions for its commercial vehicle customers. The two companies have signed a Memorandum of Understanding (MoU) to this effect, Tata Motors said in a statement.

In the ever-evolving landscape of cryptocurrency, Bitcoin continues to capture the attention of investors and market analysts alike. Currently trading at $44,002, marking a modest increase of 0.15% on Thursday, Bitcoin stands at the forefront of significant developments in the digital currency domain.

Retik Finance is not just another cryptocurrency; it’s a platform that aims to seamlessly integrate cryptocurrencies into the global payment ecosystem while providing users with enhanced speed, convenience, safety, and security. If you’re new to Retik Finance and want to buy RETIK tokens, this beginner’s guide will walk you through the process step by step.

SINGAPORE—Chinese internet titan Alibaba Group Holding once seemed invincible. Now, it is stuck in a slump. The e-commerce giant was a major driver of China’s growing consumer economy as it pioneered online shopping in China.

Fixed Invest, a fintech startup, has collaborated with Bajaj Finance to provide digital fixed deposit (FD) options to its clients and associates. Having introduced India’s inaugural FD marketplace, the company has forged a digital fintech alliance with Bajaj Finance. This collaboration enables investors on the Fixed platform to access and invest in all FD options offered by Bajaj Finance. Investors can seamlessly explore, learn about, invest in, and manage their Bajaj Finance FDs through this partnership.

Emart, South Korea’s largest retailer and supermarket chain, says its new next-generation ATMs could soon feature crypto and security token offering (STO) trading functions.

Pashupati Advani, Founder, Global Foray, says “the question is whether our IT is able to actually pivot and take advantage of that. I think in some cases, they will take some advantage which is why it is not going to fall off a cliff. But I think that the business models are becoming more difficult and a lot of jobs are going back to the countries where the work is getting done just as a way of protectionism which seems to be happening all over the world. ” How do you see this MPC meet? Do you expect it to be a big event? What are your expectations from the MPC meeting? The world wants to keep rates where they are and start pulling them down. We do not have an indication of that yet. But I think this MPC meeting will just basically say nothing. I think they are not really going to change rates this time, that is my humble assumption.

Ukraine. While the G-7 and its European allies have been trying to find additional ways to squeeze Russia’s economy to constrain its ability to fund its war in Ukraine, diamonds have remained a stumbling block. Earlier attempts to sanction Russian gems in Europe had met resistance from leading importer nations like Belgium, which had argued that a simple ban would just shift the lucrative gem trade elsewhere.

GameStop missed quarterly revenue estimates on Wednesday as competition grew and consumers dialed back spending in an uncertain economy, hampering the videogame retailer's pivot to a more online-focused model. Sticky inflation and high borrowing costs have led to uneven spending in the gaming industry. Recently, two major players, including Take-Two Interactive Software, gave an underwhelming forecast.

EU countries and lawmakers have agreed on rules governing artificial intelligence systems such as ChatGPT after 10 hours of discussions, a person with direct knowledge of the talks said on Thursday. EU governments made compromises in the hopes of gaining lawmakers' backing to be able to use AI in biometric surveillance for national security, defence and military purposes, the person said.

IRCON The union government has proposed to sell 8% equity in IRCON International through an offer for sale (OFS), which opens today. Network18 With a view to consolidate the television and digital news businesses, Network18 Group has proposed the merger of TV18 Broadcast Ltd with Network18 Media & Investments Ltd through a share swap deal. IDFC First Bank Global private equity firm Warburg Pincus is looking to sell $100 million worth of stake in IDFC First Bank through block deals on Thursday, according to news reports. Adani Ports The Board of Adani Ports will meet on December 12 to consider a fundraising proposal through issuance of non-convertible debentures and non-cumulative redeemable preference shares. RITES RITES has signed a memorandum of understanding (MoU) with Meghalaya Industrial Development Corporation Ltd (MIDC) to develop multi-modal logistics projects in Meghalaya. Brigade Enterprises The company has entered into a joint development agreement with the land owner to develop a premium ‘A Grade’ office space at Sankey Road in the Central Business District (CBD) of Bengaluru Dr Reddy’s Coya Therapeutics Inc and Dr Reddy’s Laboratories enter into an exclusive collaboration for development and commercialization of COYA 302, an investigational combination therapy for treatment of Amyotrophic Lateral Sclerosis (ALS). Bharat Electronics Bharat Electronics received an order of Rs 580 crore from Indian Army for AMC of radars. Paytm Paytm announced that it will expand credit distribution business to enhance focus on higher ticket loans for consumers and merchants in partnership with banks and NBFCs. Airtel Warburg Pincus to raise $211 million in Bharti Airtel block, ET Now reported.

The CVM, Brazil’s markets regulator, has co-launched a glossary of crypto-related terms in a bid to “standardize” terminology in the Latin American nation.

In the constantly evolving landscape of cryptocurrencies, Bitcoin has recently hit a notable milestone, surging past $44,000 and marking a staggering 160% increase this year.

Many companies are tightening top executive contracts to bind them in longer associations where an abrupt exit of a C-suite executive can potentially cause severe business disruption and financial loss.

Edited excerpts: Yes, it is difficult in a world that has gone from one shot to another with the consequence being fiscal space in countries has shrunk in some countries. The fight against inflation means that interest rates are high, and for countries with a high level of debt that eats up resources. On top of it, with advanced economies now moving towards industrial policy and green subsidies—which overall is a good track to accelerate decarbonization—they become more attractive for private investors because it’s easier to invest in the developed world.

Chewy (NYSE:CHWY) shares fell more than 9% after-hours today following the company’s reported Q3 results, with revenue of $2.74 billion coming in below the consensus estimate of $2.76B. Q3 EPS was $0.15, compared to the consensus estimate of ($0.06).

JPMorgan Chase CEO Jamie Dimon delivered scathing remarks about the crypto industry during testimony at a Senate Banking Hearing Wednesday.

The digital world of Web3 physically came to life at the recent launch of New Society’s debut book, “Decentralization, Please Save Culture” at the NFT Factory in Paris.