Digital Financial News

Credit card usage has surged to a record, but what is driving it is not consumption, but the reward points and freebies associated with card spend that is driving it. Thanks to the mushrooming of fintechs, the gen-next is paying almost everything from house rent to groceries through their cards tied to some apps. Average monthly spending through credit cards has doubled in three years from Rs 60,000 crore a month in FY'19-20 to Rs 1.2 lakh crore a month in FY'22-23, the Reserve Bank of India data indicates.

Muhammed Majeed, Chairman, Sami-Sabinsa Group, a company in the manufacture and export of nutraceuticals, said that the proposed amendments must serve the primary goal of the law, which would boost the industry and motivate it to collaborate with the farming community for sustainable management of bioresources in India. The Indian nutraceutical industry generates exports worth $1.5 billion annually. For the sector to realise its potential, the industry requests that the act recognize its value-added products as oleoresins, extracts, and isolated phytochemicals and include them in Section 2(p) of the act pertaining to value-added products, Majeed said in a press statement. He said that although, after much consideration, the definition of the non-Indian entity in Section 3(2) of the Bill has been amended, it was still not in harmony with Section 2(42) of the Companies Act 2013. There is the inclusion of the term «foreigner» in the amendment, which has caused uncertainty for the industry. In the interpretation of the law, there is a significant difference between the terms «foreign controlled company», «foreign company,» and «foreigner,» and hence the Act needs to be harmonised with the Companies Act. Majeed stated that, due to the requirement that importers of bioresources must approach the National Biodiversity Authority for clearance of each consignment, the industry is currently paralysed by production delays. But as per the UN Rio Declaration of 1992, each nation has sovereign rights over its own bioresources, and another nation cannot control them. Hence, the imported raw materials must be brought out of the purview of the act, he said.

Solana's native token, $SOL, is signaling positive market sentiment and has increased above the $18 price level. 

Is non-English language music the future of the music business

Sorting out travel money often involves a mad dash to the currency exchange at the airport - or simply swallowing the astronomic prices charged by your debit card issuer.

South Korean firms that hold or issue cryptocurrencies will be required to disclose information about their transactions to the financial regulator starting next year.

A new report from the Bank for International Settlements (BIS) has pointed to “inherent structural flaws” in crypto as the reason why it will never become money.

perpetual Futures Trading platform. With this innovative offering, Cryptoforce India has set the stage for a new era of trading possibilities in the rapidly evolving cryptocurrency landscape. Perpetual Futures Trading allows traders to capitalize on the immense potential of the cryptocurrency market.

₹11,074 crore in Q1FY24 which was up 16.8 per cent YoY while the company's revenue for the quarter stood at ₹59,381 crore, rising 12.6 per cent YoY. The company's revenue growth in constant currency terms rose 7 per cent YoY. The operating margin during the quarter under review expanded modestly by 0.10 per cent YoY to 23.2 per cent.

Negotiators trying to hammer out a global deal to change how and where large technology companies are taxed failed to reach an agreement this week, but participants said they are close enough for now to avert a damaging alternative: a new trade war between the U.S. and Europe. Meeting on Monday and Tuesday in Paris, tax officials from 143 jurisdictions had hoped to seal an agreement on a new way to dividethe taxes levied on the profits of about100 of the world’s biggest companies.

 In today's world, loyalty is seen as a long-term relationship with customers, not just a program. Companies are upgrading to meet the changing needs of consumers and build trust in their brand.

LONDON (Reuters) — Chinese state-linked hackers secretly accessed email accounts at around 25 organisations, including government agencies, in a sweeping cyberespionage campaign by a group which primarily targets entities in Western Europe, Microsoft (NASDAQ:MSFT) said on Wednesday.

Hectar Global has raised $2.1 million in a seed funding round led by Powerhouse Ventures. The round also saw participation from WEH ventures, All In Capital, Indian Silicon Valley, and angel investors Anant Sarda and Adhish Ladha, the company said in a statement Wednesday. The Chennai-based business-to-business cross-border agri-commodity procurement platform was founded by National University of Singapore alumni Srinath Srinivasan, Sibhi Kumaran and Aswath Balaji.

Crypto investment firm Paradigm has submitted an amicus brief in the ongoing US SEC vs crypto exchange Bittrex case, asserting that the regulator is “wrongfully attempting” to oversee crypto secondary markets.

The past year hasn’t been easy for the cryptocurrency industry, given market volatility and business failures including the high-profile collapse of the FTX exchange.

India, a key global satellite player, SES — also the satellite JV partner of Reliance-backed Jio Platforms (JPL) — has been conspicuously absent in the ongoing consultation process. Luxembourg-based SES, in an earlier consultation undertaken last year by the Telecom Regulatory Authority of India (Trai), had strongly opposed any auctioning of satellite spectrum and like all global satellite players such as Amazon, OneWeb, Starlink, Telesat and Hughes, had backed allotment via the administrative route. This was in stark contrast to the views of its JV partner.

Profits at UK law firms are being squeezed amid a high-inflation environment, early reporting from the sector’s 2022-23 financial year suggests.

Federal Trade Commission Chair Lina Khan is taking on the world’s biggest technology companies—and losing. Khan failed Tuesday in her latest effort to block a big-tech deal when a federal judge denied her agency’s bid to block Microsoft from closing its purchase of videogame publisher Activision Blizzard. The FTC suffered a similar setback earlier this year when it tried to thwart Meta Platforms’ purchase of a virtual-reality gaming company.

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payment gateway Razorpay has launched operations in Malaysia through its subsidiary Curlec. The Malaysian payment firm was acquired by the Sequoia backed payments unicorn in February 2022. In a statement, the company said it is operating under the brand name ‘Curlec By Razorpay’.

The price of Bitcoin is currently trading at $30,628, reflecting a nearly 0.50% increase on Wednesday.