Digital Financial News

The Chinese city of Shaoxing is planning an Asian Games-themed digital yuan giveaway, as the nation prepares for a major central bank digital currency (CBDC) showcase.

CEAT Ltd on Tuesday reported a multi-fold jump in consolidated net profit at Rs 144.01 crore in the June quarter. The company had posted a consolidated net profit of Rs 8.68 crore in the year-ago period, CEAT Ltd said in a regulatory filing.

CEAT rose nearly 5% to Rs 2,592 in Wednesday's trade after the company reported over 14 times rise in consolidated net profit at Rs 144.6 crore in the June quarter. The company had posted a net profit of Rs 9.25 crore in the year-ago period. Its revenue from operations during the first quarter of the current fiscal stood at Rs 2,935.2 crore, registering a rise of 4.1% compared to Rs 2,818.4 crore in the year-ago period.

dairy companies will improve sequentially in FY24, according to rating agency ICRA. A report released by ICRA said that domestic milk supply was impacted in FY2023 due to the incidence of Lumpy Skin Disease (LSD) in cattle and its impact on the milk yields during the flush season, thus resulting in a demand-supply gap as demand remained steady. ICRA expects healthy improvement in milk supply by H2 FY2024 as these factors are likely to ease.

Qatar Investment Authority (QIA) is looking to get a minority stake in Indian billionaire Mukesh Ambani's Reliance Retail Ventures, the Financial Times reported on Wednesday, citing sources. The QIA may consider picking a minority stake in RRVL, the FT report said, with a $1 billion investment giving it a stake of about 1 per cent and valuing the business at around $100 billion.

regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies.

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foreign exchange violations in April this year. As per the Bloomberg news agency, Byju Raveendran, the firm’s eponymous founder and chief executive, paced his condo in Dubai, downing cups of black coffee and fielding calls from top investors. Raveendran broke down in tears defending his company, according to people who attended the calls.

₹111 crore)) for acquiring user data through an app that claimed to safeguard privacy but failed to disclose its data collection activities. Also, the Federal Court of Australia has ruled that Meta, along with its subsidiaries Facebook Israel and the previously discontinued app Onavo, must also bear the legal costs of A$400,000 ( ₹2.2 crore) to be paid to the Australian Competition and Consumer Commission, the party responsible for initiating the civil lawsuit, Reuters reported. The Australian government led by Anthony Albanese has unveiled a series of planned amendments to the Privacy Act aimed at modernising the legislation in the digital era.

Banks in China are looking to adopt the digital yuan in more of their operations, and have launched the nation’s first central bank digital currency (CBDC)-powered settlement service for bulk commodity spot clearing.

By Marc Jones

Investing.com — Microsoft reported Tuesday better-than-expected fiscal fourth-quarter results, led by growth in its cloud computing business.

By Milana Vinn and Anirban Sen

Google snapped out of an unprecedented advertising slump during its latest quarter, signaling a return to growth cycle needed to fuel investments in artificial intelligence technology that expected to reshape the competitive landscape

The Pulitzer Prize-winning Santa Barbara News-Press, one of California’s oldest newspapers, has ceased publishing after its owner declared the 150-year-old publication bankrupt

With the upcoming Federal Open Market Committee (FOMC) meeting scheduled for Wednesday, market participants are eagerly awaiting the outcome and its potential impact on various financial assets, including Bitcoin.

Snoop Dogg has teamed up with Happi Co. to introduce «Dr. Bombay Ice Cream» in the stores of Walmart. It will offer a range of seven delicious flavors. Snoop Dogg's new ice cream line, named after his NFT character, is set to hit the shelves of 3,500 Walmart stores on July 24, priced at $4.98 per container, as revealed in an official press release. The ice cream brand, Dr. Bombay, takes inspiration from Snoop Dogg's digital NFT persona and will debut with an enticing line-up of flavors, including Bonus Track Brownie, Cocoa Cream Cookie Dream, S'more Vibes, Syrupy Waffle Sundaze, Iced Out Orange Cream, Rollin' In the Dough and the vibrant Tropical Sherbet Swizzle. Talking about the new venture, Snoop Dogg shared his passion for ice cream, stating, «Ice cream is more than just a snack to me; it's a way to chill, relax, and get happy. That's exactly what I want Dr. Bombay Ice Cream to do—bring a smile to your face and ease your mind. I've poured my heart and soul into perfecting these first seven flavors, and I can't wait for my fans and the world to experience what I've created.» The brand's name, Dr. Bombay, also serves as the face and persona of the ice cream line, with Snoop Dogg expressing a fatherly fondness for this lovable ape character.

DreamWorks All-Star Kart Racing" is set to hit the gaming scene in 2023. This action-packed title will be available on various platforms, including PlayStation 5, Xbox Series, PlayStation 4, Xbox One, Nintendo Switch and PC (Steam).

Asian Paints Ltd, India’s largest paints maker, reported a mixed set of first quarter numbers on Tuesday, with profit beating estimates even as revenue came below expectations. The company posted a 52.5% increase in consolidated net profit at ₹1,550.4 crore for the quarter from ₹1,016.9 crore a year ago. Consolidated revenue from operations rose 6.7% year-on-year to ₹9,182.31 crore from ₹8,606.94 crore.

A mixed bag KKR’s first decade (the firm launched its India office in 2006 but gained momentum really after Nayar’s arrival in 2009) in India is something of a mixed bag. Nayar led KKR through two phases of private equity investing. The KKR playbook globally has always been big buyouts, but the India market was different and it began slowly by acquiring small stakes in companies such as Cafe Coffee Day, Bharti Infratel, and Dalmia Cements, among others.

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