Digital Financial News

The largest crypto exchange by trading volume, Binance, is apparently closing its Binance Card – cryptocurrency debit card services – in Latin America and the Middle East, effective from Aug. 25.

RBI) estimate of 8%, economists said. Economists at SBI, the country's largest lender, have pegged India’s economic growth for the June 2023 quarter at 8.3%. They expect total FY24 growth to be higher at 6.5%.

SME Credit Report 2023 released today in collaboration between GetVantage and Redseer Strategy Consultants estimates that a potential US$ 220 Bn credit deficit poses a roadblock to unlocking the economic potential of millions of digitised businesses. Out of the current US$ 220 Bn requirement (as of FY22), Redseer analysts estimate US$ 165 Bn as serviceable when adjusted for sick and commercially unviable businesses. Even after an infusion of US$ 53 Bn in FY22 into the market through various channels, the current working capital deficit stands at US$ 112 Bn.

targeted advertisements and give researchers more access to data on how its products work, to comply with landmark European Union online content rules, the Alphabet unit said on Thursday. Known as the Digital Services Act (DSA), the new rules are more onerous for Meta Platforms, Microsoft, Twitter, booking.com, Pinterest, Snap Inc's Snapchat, Wikipedia, Zalando and Alibaba's AliExpress because of their large number of users. The DSA will go into effect on Friday and requires companies to do more to tackle child sexual abuse material and disinformation, be more transparent on their algorithmic processes, bots and targeted advertisements and to remove illegal, unsafe or counterfeit products sold on their platforms. «We will be expanding the Ads Transparency Center, a global searchable repository of advertisers across all our platforms, to meet specific DSA provisions and providing additional information on targeting for ads served in the European Union,» Google's vice president for trust and safety, Laurie Richardson, said in a blogpost. «We will increase data access for researchers looking to understand more about how Google Search, YouTube, Google Maps, Google Play and Shopping work in practice, and conducting research related to understanding systemic content risks in the EU,» she said. The U.S.

covid pandemic, under which it would provide interest-free capital expenditure (capex) loans, will now come with caveats as the government attempts to nudge states to implement specific reforms. Mint explains the rationale behind the government's decision. About ₹80,000 crore of interest-free loans have been sanctioned to states for this fiscal year and almost ₹40,000 crore has been disbursed to states so far.

Real estate investment in India is undergoing a revolutionary transformation with more and more Indians choosing serenity, top-of-the-line technology, and sustainability as their primary criteria. These trends are not restricted to residential real estate, but even commercial spaces are reflecting these choices wherein smart technologies and ‘human’ elements are far outweighing traditional choices.

Bank of Baroda customers can now complete re-KYC digitally in just a few minutes in a secure manner without even having to visit their branch.

Google Workspace, the company’s productivity and collaboration suite, is getting a major security pump up with new AI-powered features. The new features are designed to help organisations protect their data from cyberattacks, improve security, and comply grant them with more granular controls over data use and access.

Brightcom Group shares extended their rout, hitting its 5% lower circuit in trade for the second consecutive session after SEBI banned seasoned investor Shankar Sharma, and 23 other individuals, from selling or offloading Brightcom Group shares they possess, either directly or indirectly on beliefs of manipulation. 

Reliance Industries (RIL) share price dipped about half a per cent in morning trade on BSE on Thursday, a day after the company announced Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest ₹8,278 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. This investment, the company said values RRVL at a pre-money equity value of ₹8.278 lakh crore. QIA’s investment will translate into a 0.99 per cent stake in RRVL on a fully diluted basis, RRVL said on Wednesday.

Paytm (One 97 Communications) share price rose almost 3 per cent to hit its fresh 52-week high of ₹931 in morning trade on BSE on Thursday. The stock opened at ₹925.05 against the previous close of ₹905.60 and soon rose 2.80 per cent to hit its 52-week high of ₹931. However, the stock cooled off slightly and around 10:35 am, it was up 2.24 per cent at ₹925.85.

Pepe Coin (PEPE) is a meme coin inspired by the famous internet frog that has become a symbol of counterculture and freedom of expression. Pepe Coin aims to create a decentralized community of meme lovers who can share, create, and trade digital art on the blockchain. Pepe Coin has a total supply of 100 billion tokens, of which 50% are burned, 25% are locked for liquidity, and 25% are distributed to holders and developers.

Narendra Modi highlighted the historical role of trade in connecting people, cultures, and technology. He emphasised how trade and globalisation have lifted millions out of extreme poverty throughout history. Prime Minister Modi expressed optimism about the Indian economy, stating that India is seen as a land of opportunities, openness, and choices.

European Union and India will try to advance talks on a trade deal this week as the bloc’s demands for strict sustainability requirements have become a key stumbling block. European Commission Vice President Valdis Dombrovskis will discuss the proposed pact with Indian commerce minister Piyush Goyal on the sidelines of a Group of 20 trade meeting in India, as both sides seek to diversify their economies away from China. The EU has a strong interest in sealing the trade deal but the bloc’s sustainability regime is complicating its trade negotiations across a number of countries, people familiar with the matter said. The bloc needs to figure out how to communicate more clearly that green elements in the trade talks are legally required to avoid being labeled as protectionist, the people added. The EU sees part of its mission as using its economic weight to promote green goals globally, but other countries are often reluctant to make those kind of commitments, which has snagged negotiations on a range of trade deals from South America to Asia.

In the rapidly evolving landscape of cryptocurrency, Bitcoin has experienced a notable 10% decline, prompting a surge of interest and speculation. The current trading price of Bitcoin stands at $26,200, reflecting a marginal decrease. 

It may be August but next year’s initial public offering pipeline is already revving up.

Megaport chairman Bevan Slattery has given the green light to start construction on an undersea connection from Sydney to Perth, signing with Alcatel Submarine Networks to build the 5000 kilometre cable.

Budget jewellery retailer Lovisa Holdings, backed by billionaire retailer Brett Blundy, cut its final dividend as pressure on the costs front mounted with slowing growth in the second half.

Tabcorp has posted a $66.5 million net profit after tax in its first year after the demerger of its lotteries and Keno business, as a growing wagering business offset softer market conditions.

visa application requirements are grappling with the compliance requirements that could get triggered under the new Digital Personal Data Protection (DPDP) Act. Significant data fiduciaries will also have to assess implications not just from a compliance standpoint, but the cash flow impact in tax laws as well under the law that came to effect earlier this month, experts said. The travel and hospitality sector has traditionally had access to a lot of customer data which could all come under scrutiny now. «Companies need to take explicit user consent before user data is used under the new law, and the travel and hospitality sector will see a lot of digital transformation. Because of some of the physical touch points and points of sale, companies are grappling with sensitising their front desks on the matter.

The Chinese digital yuan pilot’s spread to Hong Kong may be playing a part in driving up cross-border payments, media outlets have suggested.