Digital Financial News

“Indian services companies achieved a remarkable milestone in August, as they welcomed a series record surge in new export business. Several regions contributed to the upturn, including Asia Pacific, Europe, North America and the Middle East,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence. The seasonally adjusted S&P Global India Services PMI Business Activity Index also recorded a consecutive 25-month of expansion in new business, as advertising and robust demand kept the index above the 50-mark. A value of above 50 denotes expansion. “Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects,” De Lima said. Strong services growth and capital spending pushed India’s GDP growth to a four-quarter high of 7.8% for the first quarter of FY24, according to data released last week. Financial, real estate & professional services grew in double digits at 12.2% in Q1, whereas trade hotels, transport, communication and services related to broadcasting expanded 9.2%. Among the four sub-sectors of PMI services index, finance & insurance led growth of both total new business and output in August. The employment situation was better, as the rate of job increase was fastest since November. On the inflation front, output inflation rose at the joint quickest pace in nearly six years. “Anecdotal evidence indicated that robust demand conditions facilitated the passing on of cost increases to clients,” the report indicated.

Stake likely via a stolen private key. Stake confirmed the hacking on X (formerly Twitter), saying that unauthorised transactions were made from Stake's Ethereum (ETH)/Binance Smart Chain (BSC) hot wallets.

Paytm on Tuesday announced its business operating performance metrics for quarter to date (July-August period). The fintech giant continues to solidify its leadership of payment monetisation with 87 lakh devices deployed.

G20 summit in New Delhi from September 9-10. The theme for India's G20 Presidency is 'Vasudhaiva Kutumbakam' or 'One Earth, One Family, One Future'. The country will host over 200 meetings across 13 working groups, 11 engagement groups, five initiatives and eight finance working tracks. ET looks at the agenda, developments, introductions and proposals for the finance and sherpa tracks.

The world is rapidly evolving, and innovations across the business world have been moving at a blistering pace. Particularly in the last three years, when the pandemic fuelled a seismic shift in behaviour, driving a radical adoption of digital services.

Rishabh Instruments IPO: After strong response given by investors to the initial public offering (IPO) of Rishabh Instruments Limited, investors and market observers are eagerly waiting for announcement of Rishabh Instruments IPO allotment date, which is most likely on 6th September 2023. those who have applied for the book build issue, they are advised to check Rishabh Instruments IPO allotment status online by logging in at BSE website or at the website of IPO registrar — KFin Technologies Limited. Meanwhile, ahead of share allotment, grey market is signaling positive sentiments in regard to the public issue.

Orora will pay $2.16 billion to acquire French glass bottles maker Saverglass from US private equity giant The Carlyle Group as it tilts its business further towards the premium spirits and wine segment.

Apple Inc and Microsoft have argued that some of their services were not popular enough to be designated as «gatekeepers» under the EU's new Digital Markets Act, designed to curb the powers of Big Tech, the Financial Times reported on Monday. Apple is battling over its iMessage chat app, while Microsoft is battling over its search engine Bing, ahead of Wednesday's publication of the first list of services to be regulated under the act, the report said.

The Bank of China and the e-commerce heavy-hitter Meituan have signed a digital yuan collaboration deal, with both firms looking to step up their CBDC capabilities.

The company, the world’s fourth biggest by market value, is also close to setting up two centers of excellence around artificial intelligence and cyber security with the government, Google’s global chief of cloud, Thomas Kurian, told ET in an interview.

Rema and Burna Boy emerged as the top winners at the Headies Awards 2023, held on Sunday, September 3, at the Cobb Energy Performing Arts Center in Atlanta. The annual show honours Pan-African and Afrobeats talent. Rema clinched three awards, securing the titles for Best Male Artist, Digital Artiste of the Year, and African Artiste of the Year.

₹1 lakh penalty for potentially harmful coverage, said experts. While a section of industry executives said it was long due considering the frequent disharmony caused by television news coverage, legal experts said it might lead to establishment of an independent central authority to evaluate news content and penalize channel directors and promoters.

In introductory remarks to the Committee on Economic and Monetary Affairs of the European Parliament in Brussels, ECB executive Fabio Panetta, emphasises that in the absence of a digital euro, the emergence of potentially dominant private actors in the digital payments market could have a strong impact on the financial sector. While Facebook's bid to launch its own currency was dashed by regulatory hurdles, Panetta points to PayPal's recent launch of its own private stablecoin as a new emergent threat: "Private providers of payment services, including PayPal, have no incentive to limit the take-up of their stablecoins or the range of services they provide. Quite the opposite: their objective is to expand their customer base and gain market share. "They may have no incentive to make their payment solutions compatible with those used today.

Days after a teacher in Uttar Pradesh’s Muzaffarnagar was caught on camera urging her students to hit their Muslim classmate, a teacher in Karnataka’s Shivamogga asked two Muslim students to “go to Pakistan." In the former case, the child had forgotten tables of multiplication, apparently, but the authority figure in class thought it fit to bring up his nominal faith. In the latter, the country named left no doubt over the sentiment of rejection behind the words. Together, both tell us how casually bigotry has invaded our classrooms.

New Delhi: The Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said that cross-border payments can be made more efficient through adoption of digital currencies. “The empirical data that we are generating would go a long way in shaping the policies and future course of action. With its instant settlement feature, I believe, CBDCs (central bank digital currencies) can play an important role in making cross-border payments cheaper, faster and more secure," he said at the G20 TechSprint 2023.

Hero MotoCorp, the motorcycle manufacturer said in a disclosure to the National Stock Exchange on Monday. The board of Hero MotoCorp passed a resolution to invest Rs 550 crore via Series E2 compulsory convertible preference shares.

In the auction, according to Dubai’s Roads and Transport Authority, Plate (AA 70) was the most expensive at AED3.82 million, followed by Plate (X 7777) for AED3.80 million, Plate (Z 43) for AED2.85 million. The number plate (Y 96) and Plate (S 888) were sold for AED2.66 million and sold for AED2.3 million respectively. Dubai’s Roads and Transport Authority put up 90 fancy plates at this auction comprising of two, three, four and five-digits bearing (AA-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X-Y-Z) codes. «By offering distinctive licensing plates at open or online auctions, RTA (Roads and Transport Authority) seeks to provide a neutral and transparent platform that bidders can avail of.

Mercado Libre (NASDAQ:MELI), a renowned name in Latin American e-commerce and financial services, has not only gained global recognition but also fiercely competes with industry giants like Amazon (NASDAQ:AMZN) and Alibaba (NYSE:BABA).

credit cards can be linked to UPI. The scope of UPI is now being expanded by the inclusion of credit lines as a funding account, Reserve Bank said in a circular on 'Operation of Pre-Sanctioned Credit Lines at Banks through UPI' "Under this facility, payments through a pre-sanctioned credit line issued by a Scheduled Commercial Bank to individuals, with the prior consent of the individual customer, are enabled for transactions using the UPI System," the RBI said. “Banks may, as per their board approved policy, stipulate terms and conditions of use of such credit lines.

NEW DELHI : The health ministry may introduce mandatory bar coding for 11 habit-forming drugs, including some cough syrups, painkillers and sleeping tablets, to stop their misuse and an illicit trade in them. The list also includes the formulations used to make these drugs. These 11 medicines are: codeine- based cough syrups, fentanyl and its analogues, buprenorphine injections, tramadol, alprazolam, nitrazepam, diazepam, lorazepam, clonazepam, zolpidem and ketamine -- that are commonly used as sleeping pills, for pain relief and to control anxiety.

(Reuters) — London Stock Exchange Group (LON:LSEG) is looking into using blockchain to build what it described on Monday as «an end-to-end digital market ecosystem to raise and transfer capital across asset classes».