Digital Financial News

An Australian online classifieds marketplace is beefing up its Asian footprint ahead of a potential ASX listing.

The world’s largest bitcoin fund is surging faster than the cryptocurrency itself as investors anticipate that an exchange-traded fund centered on the token could soon launch. 

TIRANA (Reuters) — The European Union wants to bring six Western Balkan countries closer to membership of the bloc but wants them first to implement reform and create their own single market, European Commission President Ursula von der Leyen said on Monday.

Recent price action in Bitcoin showcases the asset's volatility and susceptibility to market rumors. Earlier on Monday, Bitcoin surged from just under $28,000 to $30,000 in a matter of minutes. 

₹5 crore and more have reported double digit annual profit growth. The higher the income range of the company, the more the pace of profit growth. CBDT data showed that not only has the number of companies in the ₹50 crore- ₹100 crore gross income range gone up from 1,395 in FY20 to 1,715 in FY21, the sum of gross income in this class of companies surged 21% annually in FY21 to ₹1.19 trillion.

New Delhi: Avinash Kumar runs Blumox Technologies, a Delhi-based company that develops websites, mobile apps and applications for enterprises. For five years, he used the services of Razorpay, a payments company, for his everyday transactions with customers online. However, a few months ago, he switched to PhonePe.

NEW DELHI : Cricket fans worldwide have a reason to celebrate as the sport will debut at the LA Olympics in 2028. This is also expected to attract new cricket enthusiasts and promote global infrastructure development for the sport, apart from having a significant economic impact, said experts. Team India is poised to play a crucial role as one of the six teams representing cricket at the 2028 Olympics.

The world of finance is constantly shifting, and recent developments have caught the attention of veteran as well as beginner cryptocurrency investors. Bitcoin, which leads the top ten cryptocurrency list, has forged a new path, diverging from its once close relationship with long-term bonds.

The concept of network effects is extended by Reed’s Law, which was developed by Harvard professor David P. Reed in 1999 and emphasizes the importance of communities and subgroups within a network. 

Meesho on Monday claimed to have recorded 120 crore customer visits during its recently concluded 10 days festive season sale "Meesho Mega Blockbuster Sale". This is the first time Meesho hosted a festive season sale with Meesho Mall — a digital store within the platforms for brands and claims to have recorded 3 times growth than business as usual these days.

₹102 crore in a search operation conducted at the premises of certain government contractors, real estate developers and their associates on 12 October, the department said in a statement. About 55 premises were covered during the search in the states of Karnataka, Andhra Pradesh, Telangana and New Delhi, the department statement said. The search resulted in seizure of allegedly unaccounted cash of about Rs94 crore and gold and diamond jewellery of over ₹8 crore, aggregating to more than R 102 crore.

New Delhi (India), October 16: Online security threats continue to multiply and grow more complex each day, presenting an increasing challenge for IT security and risk management leaders. Securing data and infrastructure is not only vital for an enterprise but also for its customers and business partners.

Best Buy is saying goodbye to movie-watching with physical discs

Leaders from the European Union offered a new growth plan to the Western Balkans at a summit in Albania’s capital on Monday, opening parts of the EU single market and asking for deep-rooted reforms ahead of membership in the bloc for the six countries ...

Sony Pictures Entertainment’s reported bid for Disney’s India business may turn out to be a gamechanger in India’s rapidly changing media and entertainment market. It would also help SPE, the global entertainment arm of Sony Group, kill two birds with one stone – by cobbling together a strong and viable entity in India to take on the challenge from Mukesh Ambani’s Jio Cinema and Network18 while getting out of its increasingly troubled – and long delayed – bid to acquire Subhash Chandra’s Zee Network with a strong alternative play on hand.

₹1,00,000 and the phone could feature a triple rear camera and impressive display specs. According to a notable tipster Abhishek Yadav (@yabhishekhd), it has been indicated that the pricing for the OnePlus Open foldable phone in India is expected to be approximately Rs. 1,39,999.

Starboard Value has built a stake in News Corp and the activist shareholder plans to push for strategic and governance changes at the Wall Street Journal parent. Starboard believes News Corp, one of the two arms of Rupert Murdoch’s media empire, trades at a significant discount to its fair market value due to its conglomerate structure, according to people familiar with the matter. Starboard plans to recommend News Corp spin off its digital-real-estate division, which includes a stake in Australian online-property-site operator REA Group and Realtor.com parent Move Inc.

Worldwide, travellers are unhappy with the delay in Schengen visa processing times that is impacting their personal and professional travel plans. What’s the big reason for this delay?  In India, people are complaining that scheduling an appointment ‘takes forever’. How can this be expedited?  This is not a specific situation to India.

The Reserve Bank of Australia says creating real-world financial assets in a “tokenised” form could unlock billions of dollars in annual savings for banks and other financial institutions by streamlining settlement processes and automating registries.

Australia plans to protect people from cryptocurrency collapses by forcing the platforms to get a financial services licence, the government said Monday. Any crypto exchange or digital asset platform with more than Aus$5 million (US$3.2 million) in aggregate assets would have to comply, the Treasury said in a proposal paper. About one in four Australians own some cryptocurrency, it said. Cryptocurrencies such as Bitcoin rely on decentralised cryptography to secure transactions instead of the traditional banking system. «Collapses of digital asset platforms, both locally and globally, have seen Australians lose their assets or be forced to wait their turn amongst long lines of creditors,» the Treasury said. «These reforms seek to reduce the risk of these collapses happening, by lifting the standard of their operations and increasing their oversight.» The government invited feedback on its proposal by December 1, with further consultation due in 2024 on proposed legislation. If they are required to get a licence, digital asset platforms would be governed by Australian financial services law. The law includes minimum solvency and cash reserve requirements and the need to be efficient, honest and fair, keep records, and manage conflicts of interest. The platforms would also be subject to specific standards governing their holding and transacting in cryptocurrencies.

Paytm to Rs 1,250, signalling a potential upside of about 30% from current levels, global brokerage firm Goldman Sachs said it expects the fintech major to be the most profitable company within the internet sector. «Paytm’s operating metrics have been surprisingly positive, and we are further raising our FY24-26E EBITDA estimates by 2-5%, with our target price moving to Rs 1,250 (was Rs1,200),» Goldman said, adding that it has a forecast of 30% YoY revenue growth for Paytm in Q2. Paytm is seen turning net income positive in FY25, which could be a catalyst for the stock. «At 37x FY26 P/E, Paytm trades at a 20%/50% discount to Zomato/Nykaa, which we do not see as justified given Paytm’s growth profile (26% FY23-25E revenue CAGR),» Goldman said. Besides continued momentum in lending and payments, resolution of outstanding regulatory issues (customer onboarding ban on Paytm Payments Bank or online merchant onboarding ban), and/or inclusion of a bank as a lending partner could act as catalysts for Paytm. The stock has rallied over 76% so far in the calendar year 2023. «Investor pushbacks have been around negative impact on Paytm from a potentially adverse credit cycle, and while we expect Paytm to prioritize credit quality over growth, we expect FY25 financial services revenues to still grow 36% YoY (vs 61% in FY24),» Goldman analysts said. Global brokerage Bernstein recently added Paytm in its list of 12 bottom-up ideas for the rest of the year saying that the company appears to be on the right side of disruption with its dominant payments platform and a head start in digital credit products. «Its underwriting and collection outcomes are impressive too, but remain untested through a full credit cycle.