Digital Financial News

On June 28, 2023, in Shanghai, China Mobile announced the formal establishment of the China Mobile Metaverse Industry Alliance during the Mobile World Congress (MWC) Shanghai 2023. This initiative marks a significant stride in China Mobile's strategic foray into the rapidly expanding metaverse landscape.

Hundreds of airline passengers stand in United Airlines' customer service line following a slew of flight cancellations and delays at Newark Liberty International Airport on Tuesday, June 27, 2023. 

Breitbart’s John Carney evaluates the state of the economy under President Biden on 'Kudlow.'

The State Bank of India (SBI), as part of the 68th Bank Day celebrations, today launched its enhanced digital banking application, ‘YONO for Every Indian’, and Interoperable Cardless Cash Withdrawal (ICCW) facilities.

The last two decades have witnessed a monumental transformation in the technology space. These developments have become ingrained in our daily life and often go unnoticed. Such is the impact of technology. Consider this, the amount of time spent online either on mobiles or on laptops has changed significantly. Everything is available at the touch of a button or a click. You have virtual assistants, chatbox, cloud computing, artificial intelligence etc. One can firmly assert that technology covers practically all sectors of the modern economy; and sectors too rely on technology to uplift their quality, productivity, and profitability. Today, the challenges an organisation would face are not about a lack of technology but identifying the right use and delivering value.

This week in crypto, we had FTX: it was having initial talks with investors on bringing back the FTX.com exchange through structures such as a joint venture, the new FTX leadership team recouped approximately $7 billion in liquid assets, the exchange put a pause on the sale of its stake in the AI startup Anthropic, it was revealed that Sam Bankman-Fried had shot a tutorial video on cryptocurrency for MasterClass, and Sequoia Partner Alfred Lin claimed that the FTX investment was a correct decision at the time.

Digital transformation consulting company KaarTech has raised $30 million as part of fresh funding from A91 Partners. The round marks the first external funding for the company, and is a mix of a primary and secondary raise. As a part of the transaction, Gautam Mago and Kaushik Anand from A91 Partners will join the KaarTech board.

Piyush Gupta has led one of Singapore’s most iconic institutions, the bank that helped turn the Southeast Asian city-state into one of the richest countries in the world. In his time as chief executive officer at DBS Group Holdings Ltd., Gupta has built the lender into Singapore’s largest listed company, moved early into wealth management and other key business areas and delivered equity returns that outstrip global peers.

Narendra Modi will host Chinese President Xi Jinping, his Russia counterpart Vladimir Putin, Pakistan's Shehbaz Sharif and other leaders of the SCO nations at a virtual summit of the bloc on Tuesday that is expected to focus on regional security situation and ways to boost connectivity and trade. It will be Putin's first participation in a multilateral summit after a mercenary group launched a short-lived armed rebellion last week that rocked Moscow. The summit of the Shanghai Cooperation Organisation (SCO) under India's presidency is also set to welcome Iran as the new permanent member of the grouping. The situation in Afghanistan, the Ukraine conflict and enhancing cooperation among the SCO member countries are expected to figure in the summit, people familiar with the matter said, adding boosting connectivity and trade is also likely to be discussed. The summit is also taking place against the backdrop of the over three-year eastern Ladakh border standoff between Indian and Chinese troops, and two weeks after Prime Minister Modi's high-profile visit to the US. The SCO, comprising India, China, Russia, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, is an influential economic and security bloc and has emerged as one of the largest transregional international organisations.

Supreme Court of India has undergone a significant transformation, entering the digital age as it reopens after the summer vacation. The courtroom settings of the Chief Justice of India and the two senior-most judges have been completely revamped, bidding farewell to traditional fixtures such as stacks of petitions and volumes of judgments that adorned the walls for over seven decades. Instead, technologically advanced courtrooms equipped with state-of-the-art enhancements are set to welcome lawyers and litigants.

Jinan, China, says all of its bus routes now accept digital yuan pay, and will incentivize adoption by granting discounts to central bank digital currency (CBDC)-paying passengers.

“FIIs have pumped USD 11 bn in the last 4 months in India, after selling nearly USD 60 bn in the last 2 years. FIIs holding in India stocks is at a decadal low after the last 2 years of outflow,” says Ajay Vora, Head- Equities, Nuvama Asset Management. In an interview with ETMarkets, Vora said: “We expect FIIs to come back to India in a strong way as earnings growth remains much better than other emerging markets and India can continue to command premium valuations” Edited excerpts:We hit fresh record highs earlier in June. What is your outlook on markets? India is relatively well placed versus all large economies as our nominal GDP growth is still around 11-12% which is much better than other markets.

Australia's top telecom firm Telstra Group said on Monday it will partner with Elon Musk's Starlink to provide fixed broadband and voice services to rural Australians. The telecommunications provider will bring home phone service and Starlink broadband services as a bundle to Australians, it said on a blog post.

Publicis Groupe is open to acquisitions in India in areas like tech, data and commerce, a top executive told ET. The advertising behemoth has identified the digital technology business as the next growth area even though media and creative services still account for the majority of its revenue. The company's digital technology business includes marketing agency Digitas India, digital transformation agency Indigo Consulting, and ecommerce division Publicis Commerce.

China Information Technology Development Limited (CITD) (HKEX: 8178), a leading technology company specializing in AI and cloud technologies, has announced its plan to issue HK$100 million worth of Bonds using distributed ledger technology (DLT). The proposed issuance aims to revolutionize the bond market by leveraging blockchain and smart contract technologies.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Mumbai, lifestyle and fashion accessory startup Zouk is looking at a strong offline strategy of opening more brand outlets «very quickly» to compliment its online presence, and is also keen on making inroads into overseas markets of the US and Canada. The brand, founded by IIM Ahmedabad batchmates and husband-wife duo Disha Singh and Pradeep Krishnakumar, had raised $3 million in fresh capital earlier this year, in a funding round led by Stellaris Venture Partners and participation from Sharrp Ventures, JJ Family Office, Deutsche Bank India CEO Dilip Khandelwal, Manoj Meena of Atomberg and Vineeta Singh, Kaushik Mukherjee of Sugar Cosmetics.

National Investigation Agency (NIA) on Sunday conducted raids at multiple locations across three states in connection with a case against the «Ghazwa-e-Hind», a radicalized module being run by Pakistan-based suspects, officials said. Five locations — two in Patna and one in Darbhanga (Bihar) and one each in Surat (Gujarat) and Bareilly (Uttar Pradesh) — were raided by the NIA in connection with the case registered last year, the federal agency said. It said incriminating material, including digital devices such as mobile phones and memory cards, SIM cards and documents, were seized during the raids which were conducted at the premises of suspects across three states.

Rane Brake Linings Ltd, engaged in the manufacturing of auto-components including disc pads and brake linings, has projected a sustained growth momentum in the automotive industry during the current financial year, despite minor headwinds in the form of rising interest rates, the company said. Adoption of electric vehicles is expected to accelerate in the coming years as electric vehicles become more cost competitive backed by supportive government policies, enhanced charging infrastructure, and consumer willingness to move towards clean and sustainable mobility solutions, Rane Brake Linings noted.

Ministry of Corporate Affairs (MCA) has flagged the limited impact of corporate social responsibility (CSR) initiatives despite a spike in such spending in recent years, and called on India Inc to adopt a long-term approach “to yield productive results”. In a newsletter dated June 30, meant for various stakeholders, the ministry said the CSR spending stood at Rs 26,210 crore in FY21, having grown 80% from FY16.

GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration, CBIC chief Vivek Johri said. Johri further said that the tax authorities are also discussing some more tightening in the GST return filing system to limit the scope of claiming Input Tax Credit (ITC), when taxes have not been paid by suppliers in the supply chain.