Digital Financial News

Russian banks will have the opportunity to question the Central Bank on its digital ruble pilot next month.

Goldman Sachs is likely to convert a part of the debt it advanced to PharmEasy into equity, following the upcoming rights issue of about $424 million (Rs 3,500 crore) by the online pharmacy that is due to open on September 4, sources aware of the matter said. Goldman, which had issued a $300-million loan to PharmEasy, is in talks to convert around $38-40 million debt into equity. The rights issue is likely to value the e-pharmacy at $500-600 million. This is significantly lower than its peak valuation of $5.6 billion in 2021.

RBI) wants peer-to-peer (P2P) lending startups to work towards diversifying their partnerships to ensure there is no overlap of lenders and borrowers from the same partner which might eventually lead to asset-liability mismatch. Three people in the know told ET that while the banking regulator has not spelt out any statement on the fledgling sector explicitly, back channel conversations between companies and the regulator have made many startups course correct.

Nirmala Sitharaman said, while exuding confidence that India will be able to manage the spillovers of high US interest rates. In a freewheeling interview with ET, Sitharaman said Prime Minister Narendra Modi will return to power in 2024 with «good numbers» as the government had delivered on its promises. She said that while some items may be experiencing inflation, «broad-basket inflation» was steady, and RBI was looking at the country's needs rather than syncing its activities with other central banks. Some individual commodities may be seeing a price surge and «all the perishables, and also vegetables, because they are all short-duration, and because of the way the monsoon (has progressed)...it (inflation) can see recurrence,» the finance minister said. «But overall, I think the basket itself is steady,» she said, adding that most central banks are becoming more considerate of growth-related concerns. Responding to a question on private sector investment, the finance minister said the buzz at last week's B20 summit couldn't have happened if Indian companies were still hesitating. «No, they now want to actively be in the game, also become big players — big, meaningful and impactful players, each according to their size.» «I think the Indian private sector has come into the game...investors are coming forward, industry is coming forward,» she said, emphatically asserting that private sector capex had taken off.

By Lisa Pauline Mattackal

U.S. officials say the FBI and its partners in Europe infiltrated and seized control of a major malware network that was used for more than 15 years to commit a gamut of online crimes including crippling ransomware attacks

ChatGPT, for example, have the ability to exponentially increase productionof the kind of middling and low-quality “clickbait" content that constitutes “made-for-advertising" websites. Such properties are designed to lure automated buying systems into placing ads there even though human brand managers would rarely make the same choice. The solution to such challenges, perhaps counterintuitively, could be more AI.

Investing.com — The S&P 500 rose Tuesday, as data pointing to a softer economy pushed Treasury yields lower as investors boosted bets that the Federal Reserve will likely skip rate hikes in September.

Investing.com — The Dow closed higher Tuesday, as Treasury yields slipped after weaker economic data stoked optimism that the Federal Reserve will likely skip rate hikes in September.

Legal technology provider Reveal, which uses artificial intelligence and analytics tools to aid the legal discovery process, said Tuesday it has acquired Logikcull and IPRO,two other vendors in the e-discovery space. After the deal, Revealwill be worth more than $1 billion, according to private-equity firm K1 Investment Management, Reveal’s majority stakeholder. K1funded the transactions.Other terms of the deal were not disclosed.

We recognize that every household has specific hot water needs, whether it's for showers, household cleaning, or other tasks. To address these varied requirements, we've shared a collection of geysers with diverse features here, catering to different preferences. Dive into this article for detailed descriptions of various geysers that match your budget, helping you find the ideal one for your home.

Over the course of the week ending 8/27, the Bitcoin market saw some dramatic changes. Bitcoin settled around $26,000 last week, slightly outpaced by the S&P 500 and Nasdaq, which registered a week-over-week increase of 0.8% and 2.3% respectively. What caught the eye of many investors, however, was the contrasting stagnation of Bitcoin prices last week, reminiscent of the time prior to the filing of BlackRock’s spot Bitcoin ETF application.

₹4 lakh, involves the patient swallowing a pill, which inflates into a balloon once inside the stomach. This limits the amount of food a person can eat and forces a calorie deficit, resulting in weight loss. On 20 May, Panchal was admitted to a hospital in Mumbai’s Goregaon suburb to undergo this procedure.

X, the social media company formerly known as Twitter, said Tuesday it would now allow political advertising in the US from candidates and political parties and expand its safety and elections team ahead of the 2024 presidential election. Before billionaire Elon Musk acquired the company in October, Twitter had banned all political ads globally since 2019. In January, Twitter lifted the ban and began allowing «cause-based ads» in the US that raise awareness of issues such as voter registration, and said it planned to expand the types of political ads it would allow on the platform.

Mint looks at the need to study the sun, Aditya L1’s objectives and what others have done to study our nearest star. Yes. After becoming the first nation in the world to soft-land an object at the South Pole of the moon, the Indian Space Research Organization (Isro) is all set to probe the sun—the largest object in our solar system.

NEW DELHI : Mastercard Inc.’s dominance in the payment process makes the company, along with Visa Inc., no less than what Google Llc is to search. But a more important fact—and less discussed detail —is the company’s impressive profitability: Mastercard ended with a 58.3% operating margin on $6.3 billion in revenue in the second quarter. In an interview, Michael Miebach, the chief executive who succeeded Ajay Banga in 2021, discussed Mastercard’s Indian strategy.

SoftBank Vision Fund is expected to offload around 10 crore shares in food and grocery delivery company Zomato on Wednesday, representing around 1.17% stake, according to sources. The block deal is expected to be worth approximately Rs 940 crore, indicating that SoftBank will sell the shares at Rs 94 apiece. As of June 30, SoftBank Vision Fund held over 28.71 crore shares in Zomato, representing 3.35% stake.

Bitcoin's gains from a U.S. court ruling that bolsters future prospects for retail investor-friendly funds have rescued the original cryptocurrency from a dismal month, offering new optimism over its longer-term outlook. The Securities and Exchange Commission's denial of Grayscale Investments' proposal was «arbitrary and capricious», a federal court said on Tuesday, handing the crypto asset manager a landmark victory that could pave the way for the first product of its kind.

Several months after the shutdown of the FTX exchange, users are grappling with persisting issues that have locked them out of their capital stored on the platform.

Piyush Goyal on Tuesday said that the current year shows some challenges with the geopolitical situation across the world, concerns around inflation and slowing growth which is impacting certain sectors such as petroleum, natural diamonds, readymade garments and chemicals. At an event organised by the Federation of Indian Export Organisation (FIEO), he emphasised on value, volume and quality of exports and that India is trying to unlock newer markets through free trade pacts, collaboration work different countries, encouraging investments in modern technology, looking for digitalization and technology adaption. “The current year does show some challenges with the geopolitical situation across the world with concerns around inflation slowing growth and the impact that we have seen in certain sectors,” Goyal said. He said the target for 2030 is to have $1 trillion of goods exports and $1 trillion of service exports, and that India aspires to to become a $35 trillion economy by 2047. The minister also met various export promotion councils earlier in the day where issues related to the EU’s Corporate Sustainability Due Diligence Directive, and Carbon Border Adjustment Mechanism were taken up. “Issues related to high imports of gold and some chemicals but the low exports of gems and jewellery were discussed,” said an industry representative who participated in the meeting, adding that exporters assured the government of reaching $450 billion of goods exports in the next seven months. Officials said that petroleum products, marine products and inorganic chemicals were among the 15 key product categories where export volumes rose but value fell in April-June FY24. At the FIEO event, Goyal said that India’s space sector is not

Apple said on Tuesday it would host its fall event on Sept. 12, setting the stage for what analysts believe will be the unveiling of a new line of iPhones and smartwatches. The event will be hosted at the Steve Jobs Theater at its headquarters in Cupertino, California, according to invites from the world's most valuable company.