Digital Financial News

Solicitor General Tushar Mehta asserted Saturday, as he extolled India's growing economic power which is attracting foreign investment like never before. Bharat, he said, is leading the world in terms of digital payment, and justice is being delivered to the litigants at their doorstep because of the government's initiative for digitisation. Addressing the inaugural ceremony of the Bar Council of India's (BCI) two-day 'International Lawyers Conference 2023' here, Mehta said there are 21,000 district courts, 25 high courts and the Supreme Court in the country, and now every document of every court is available in digitised format that anybody can access. «Bharat is the present and the future of the world.

By Rodrigo Fernandes

digital ID systems already introduced and the results have been rather mixed. India being one, with its unique identification system, Aadhar. The decentralised identity (DID), an emerging digital identity management system, has a lot to offer. However, it certainly cannot hide from the risks it poses.

Bitcoin and Ethereum, two paramount forces in the cryptocurrency realm, are currently experiencing minimal fluctuations of around 1%. They are trading near $26,500 and $1,600, respectively, with an intriguing neutrality, potentially influenced by a tempered trading volume.

“Struggling Chinese economy and rising crude oil price pushed the dollar index. Elevated crude oil prices along with slower export may keep the rupee at a subdued level,” says Arpit Shah, Co-Founder, Care Portfolio Managers Pvt Ltd. In an interview with ETMarkets, Shah who brings in more than 15 years of experience in the capital markets said, “We advise investors to be company specific, and when you see sharp movement in the price it is advisable to keep rebalancing portfolio.” Edited excerpts:How should one play the midcap and smallcap theme now?Small and midcaps were in the consolidation phase for almost 18 months i.e. from September 21 till March 23. However, during those times, companies' fundamentals improved while valuations remained either flat or lower. So, we believe there is more steam left in this set of companies.

Google and Apple, digital payments major PhonePe is opening its Indus Appstore to other Android developers. The company on Saturday announced the launch of the Indus Appstore Developer Platform, which will be free for developers for the first year, after which a nominal annual fee will apply.

Oracle Corp agreed to prepay $104.1 million for processor chips made by startup Ampere Computing, according to Oracle's proxy statement filed on Friday. Oracle also invested $400 million in Ampere through a convertible note in its fiscal 2023, the proxy said.

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Popular crypto asset manager CoinShares has announced the launch of a crypto operation in the United States.

Amazon Web Services (AWS) India Private Ltd has expanded its cloud service offerings to premier research organisation Centre for Cellular and Molecular Biology (CCMB) to help it accelerate research in genome sequencing. The announcement was made by AWS India at the Public Sector Symposium in New Delhi on Friday. This follows a series of similar partnerships in India’s public sector across healthcare, education, and space industries.

Sony Pictures Networks India (SPNI) has sold over 90% of its TV and digital ad inventory for the Asian Games 2023, with the network targeting a reach of over 100 million for the event, a senior company executive said. «We are almost sold out, whether it is linear or digital, and the list of advertisers is growing. We sold the TV and digital ad inventory separately,» said SPNI business head, sports Rajesh Kaul. The TV broadcast sponsors include Hyundai, JSW Group, Limca Sportz, Paisabazaar, LIC of India, UltraTech Cement, Amul, State Bank of India, Panasonic and Parle Products, while the digital sponsors are EatFit, JSW, Maruti Suzuki India, ACKO and Limca Sportz, among others. The media company was seeking investments of ₹3.5 crore from co-presenting sponsors and an outlay of ₹2.4 crore from associate sponsors. Media buyers say properties like the Asian Games draw niche audiences that are relevant to certain sets of advertisers.

These shocks could have been far worse without the critical role digital public infrastructure (DPI) played during the pandemic to provide emergency fiscal transfers to hundreds of millions, support and coordinate vaccine deployment across large populations, and offer digital platforms for education and commerce to blunt the worst ravages of the lockdowns. In doing so, it supported job creation and private sector innovation. The latest IMF and World Bank forecasts project that the 'global south' will contribute nearly 70% of global growth in the next few decades.

inflation tapered off and volume growth recovered. The maker of Pampers, Vicks and Tide is also investing aggressively in the supply chain in line with the demand fluctuations. «Historically, our supply chain has been a competitive advantage for us, and we are investing significantly to strengthen this advantage and be better positioned to handle larger capacity and higher ranges of demand volatility, while reducing over-dependence on singular nodes.

Arm Holdings and Instacart deepened their recent losses on Friday after analysts gave lukewarm ratings to the two companies that recently held highly anticipated initial public offerings. Arm was last down 1.7% at $51.23. Earlier it dipped as low as $50.35, below the $51 price set in its IPO on Sept. 13.

As the crypto landscape experiences renewed enthusiasm, the trading volume of Bitcoin has surged, surpassing $13 billion. 

Amazon will start featuring advertisements on content streamed on Prime Video, the company said on Friday, making it the latest streaming service to turn to commercials to raise revenue. The changes, which will go into effect early next year, will apply in the United States, Canada, Britain and Germany, unless subscribers pay more to opt out. Amazon said that U.S. subscribers will have to pay an additional $2.99 per month for an ad-free service, and that it would disclose pricing for users in other countries at a later date.

FTC) will file a long-awaited antitrust lawsuit against Amazon in federal court as soon as Tuesday, news site Politico reported on Friday, citing three people with knowledge of the matter. The FTC has been preparing the complaint since at least the start of this year, targeting an array of Amazon's business practices, according to the report, which said the exact details of the lawsuit were not known.

Instacart named former chief financial and operating officer Ravi Gupta to its board of directors Friday, formalizing a move after the grocery technology company went public earlier this week. “There are new growth areas — Connected Stores, Instacart Health, AI — entire plethora of ways that the company’s going to innovate,” Gupta said in an interview ahead of the announcement. “Just being able to be around for that and provide opinions and weigh in on that is such a gift.”

The departure of Rupert Murdoch as the leader of Fox’s parent company and his News Corp. media holdings after decades at the helm is unlikely to have as much of an impact on conservative media overall as it would have a decade ago

Microsoft came one step closer Friday to completing its $69 billion purchase of the video game-maker Activision Blizzard, in a deal that has become an example of how a company can successfully ride out stricter regulatory scrutiny of the power of tech giants. Britain's Competition and Markets Authority, the last remaining agency that must sign off before Microsoft can complete the acquisition, said the companies took action that «substantially addresses» remaining antitrust concerns. The regulator initially tried to block the deal, saying it would undercut competition, but reversed course after Microsoft agreed not to purchase a part of Activision's business associated with so-called cloud gaming, a small but promising new area for the industry.

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