Digital Financial News

Read more of our recent coverage of the Ukraine war “Poles are conservative," complains Ernest Suleimanov, who in January opened Warsaw’s first Crimean Tatar restaurant. Customers love his chebureki (meat pastries) but have trouble with the digital menus that are ubiquitous in tech-savvy Ukraine. Mr Suleimanov is one of more than a million Ukrainians living in Poland, many of them refugees from Russia’s invasion.

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X could introduce a monthly fee for all users, its owner Elon Musk said Monday, citing the need to cut down on bots. The tech tycoon has made multiple changes since taking over the site for $44 billion in October last year, when it was known as Twitter.

Google. The government claims that Google bribed and bullied smartphone producers such as Apple and Samsung and the browser-maker Mozilla to be their featured search engine, funneling far more data to Google and cutting off competitors.

Shenzhen, China, is readying a new digital yuan giveaway as the city looks to showcase the CBDC at a range of upcoming sporting events.

Global Frontier Technology Ventures (GFT), a venture capital firm launched by former Nvidia and Samsung executives, on Tuesday said it has raised $140 million for its inaugural fund. The Palo Alto-headquartered fund will focus on investing in early-stage artificial intelligence (AI) startups and other firms focusing on cutting-edge science, known as «deep tech.»

wealth management industry is at a crossroads, and the path forward is undoubtedly hybrid. This fusion of physical and digital capabilities has become essential as the industry grapples with the profound impact of digital transformation, elevated client expectations, and evolving competition. The COVID-19 pandemic acted as a powerful driver, expediting the digital transformation within the wealth management field.

Account Aggregator framework was expected to be a watershed moment, not unlike UPI, for financial services. So far, its enormous impact has been evident in consumer lending, but with the inclusion of Goods and Services Tax Network (GSTN) on the Account Aggregator framework, credit access to micro, small and medium enterprises (MSMEs) is also expected to be eased. The MSME sector has long been denied adequate credit due to a variety of reasons.

metaverse sector as Beijing seeks to be a global standards-setter for new technology. The ministry released a draft proposal to form a working group for the metaverse, shared virtual worlds accessible via the internet, on Monday. The proposal said that the metaverse is one of the nine emerging tech sectors which China should strive to establish standards for.

«So, you have seen the supply come to a level where the incremental new supply is just barely 2% to 6%. It is a fairly stable supply environment and the demand environment is very strong and also fairly long term. So, this is a structural story, not just a cyclical story,» says Ashish Jakhanwala, SAMHI Hotels.I want to understand from you which phase of the business cycle in your mind is the hotel sector right now. Some say that it is coming out of a 10-year bad cycle, so now that it has only been one or two years then, now there are still three-four years to go at least because it is a cyclical industry, but this time there are very strong structural tailwinds. To your mind, how is the visibility on the cycle front?So, I think you are absolutely right.

income tax audit is completed, an individual should check certain things. This is to ensure that the income tax auditor has not made any mistakes while submitting the audit report. If there is a mistake in the audit report, then an individual will be first required to prove to the income tax department that the mistake was made by the auditor. This must be done to avoid a penalty being levied by the income tax department due to the wrong information in the audit report. Further, the individual will have to hire an auditor again to get the audit done once more. Here are four things you must check after theincome tax audit report has been submitted by your tax auditor.Correct forms used for income tax audit According to Shalu Kedia, Director, Audit & Assurance, Nangia & Co LLP, an audit and business consultancy company, «Individuals mandatorily required to get tax audit done should ensure that their auditor has submitted correct forms as required by law. An auditor is required to give report in Form 3CB along with a detailed particulars mentioning 44 clauses in Form 3CD. These forms are used if income tax audit is mandatory for income tax purposes. However, if the individual is required to get books audited for any other law (like Companies Act, 2013), then the auditor will give report in Form 3CA along with detailed particulars in Form 3CD. So, in essence, Form 3CD is a common form for all individuals who are required to comply with income tax audit. The requirement of Form 3CA and Form 3CB will depend upon the category of the individual.» Hence, an individual should check whether the tax auditor has furnished the correct audit forms or not.

Clorox Company, renowned for its popular household brands like sanitizing wipes, PineSol, FreshStep cat litter, and Hidden Valley Ranch, has found itself at the center of a cybersecurity crisis. An August cyberattack on the company has led to «wide-scale disruptions» in its operations, raising concerns about potential product delays and shortages. In this article, we will delve into the details of this cyber incident and its potential implications.

crude prices tends to be bad news for India as it has always weighed down on the economy in the past. With Brent crude futures at about $95 a barrel due to supply cuts by oil producing countries like Saudi Arabia and Russia, market participants have begun evaluating its impact with the country importing more than 80% of its oil needs. In addition to the economy, companies in various sectors such as paints, tyres, oil, cement, and aviation also feel the direct pain of rising prices as crude is a key raw material for many of them.

Reliance Jio Infocomm and Vodafone-Idea said that they should be allowed to set a higher cost for services such as WhatsApp and Netflix. Their rationale is that these apps are among the most widely accessed and put lopsided pressure on their infrastructure, increasing their operating costs. A submission by Bharti Airtel dated 1 September read that “large traffic originators that account for a disproportionate amount of these investments must contribute a fair share" of the network cost incurred by telcos.

The Russian Central Bank says that its CBDC, the digital ruble, “has nothing to do with” state efforts to collect biometric data.

A seismic development rippled through the crypto landscape recently as the insolvent FTX exchange successfully obtained legal approval to unload billions of dollars in various crypto assets. This development has raised intriguing questions about how it could influence two prominent cryptocurrencies: Domini.art ($DOMI) and Solana ($SOL).

Nykaa’s gross merchandise value (GMV) in the year ended March 2023 came from its newer businesses, its chairperson, managing director and CEO Falguni Nayar said on Monday at the annual general meeting of parent company FSN E-commerce Ventures. “Almost one-third of our GMV contribution in FY23 has come from our newer businesses, with all of them being built from scratch over the last four to five years. Our success here comes from diligently finding product-market fit, executing well with speed, and driving only sustainable growth,” Nayar said.

Myntra is starting a new experiment with its fee for product returns imposed on customers with high return rates, people in the know said. The experiment, under a project called «return-as-a-service», comes a few months after Myntra instituted a flat «convenience fee» of between Rs 199 and Rs 299 on every order made by customers with a high rate of product returns. These customers usually made twice as many or more product returns as the average customer, a person in the know told ET.

Infosys Ltd’s recent $1.6 billion deal with Liberty Global Plc includes licensing the European telecom company’s connectivity platform Horizon to other telecom firms. Similarly, hardware equipment maker Lexmark plans to commercialise its internet of things (IoT) platform Optra through Tata Consultancy Services Ltd (TCS), which will then offer it to manufacturing and retail clients of Tata Group companies worldwide.

Very few people wanted to step into the minefield that was the cryptocurrency business in 2022.

A father-and-son team of advisors who managed about $1.2 billion in assets at Morgan Stanley has joined LPL Financial’s model for supported independence, LPL Strategic Wealth Services.