Digital Financial News

James Packer has returned to the world of media, emerging as a key, multimillion-dollar investor in Alan Jones’ Australian Digital Holdings.

State Bank of India (SBI) launched its fully revamped digital banking application ‘YONO for Every Indian’ on Sunday. With YONO, which stands for “You Only Need One”, bank customers will have access to the Unified Payments Interface (UPI) features like Scan and Pay, Pay by contacts, Request money, among others. Since its inception in 2017, YONO has had over 6 Crore registered users.

Ajanta Pharma is looking to enhance its presence across select geographies with high growth potential in Asia and Africa. In its Annual Report for 2022-23, the Mumbai-based drug maker stated that it intends to rely on its strengths to grow faster in countries where it has a presence with its range of branded generics.

inflation cooled in the US and quickened in Europe, according to the latest readings, while central bankers in both regions signaled they’re prepared to raise interest rates further. In China, where the economy was expected to stage a huge rebound this year, the problems just keep piling up. On top of weak consumer spending and a housing slump, holiday tourism moderated last month and industrial profits are still plunging. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

Bitcoin registered a second straight quarterly gain, tightening its grip on crypto markets as smaller tokens nurse losses. The largest digital asset rose 7% in April through June, aided by optimism about increasing demand if BlackRock Inc., Fidelity Investments and others succeed in their efforts to start spot Bitcoin exchange-traded funds in the US. In contrast, smaller tokens have been weighed down by the US Securities and Exchange Commission’s growing list of coins viewed as unregistered securities, a designation that can make those assets harder to trade. Bitcoin doesn’t face a similar overhang because American officials view it as a commodity. An index comprising the bottom half of the top 100 tokens by market value dropped 25% this quarter. The divergence between Bitcoin’s performance over the period and the latter gauge was the widest since the last three months of 2020. That’s even with an end-of-quarterly rally in tokens such as Bitcoin Cash and Litecoin.

A rapidly increasing number of non-tech businesses have begun their digital transformation journey, which has led the non-tech sector in India — primarily in industries like BFSI & consulting, communication media & technology, retail & consumer business, life sciences & healthcare, engineering research & development and energy & resources — to employ more than 765,000 tech professionals.

According to a recent research report by Bank of America (BofA), tokenization can revolutionize financial and non-financial infrastructure and financial markets in the next five to 15 years. 

New Delhi: President Droupadi Murmu on Saturday said 'creative accounting', or the exploitation of loopholes in the financial rules and regulations, is soon going to be a 'thing of the past' due to fast-evolving technology in the auditing space. Addressing a gathering on the 75th Chartered Accountants' Day, the President said manual assessment of data is fast becoming outdated, as she called for the fast adoption of technology by auditors to easily detect wrongdoings by unscrupulous elements.

Nirmala Sitharaman on Saturday said Goods and Services Tax (GST) has increased revenue buoyancy of states, and the all-round benefit stands out as «exemplary». The multiplicity of taxes in the pre-GST regime resulted in a «tax-on-tax» effect, causing the same product to be taxed multiple times and hence becoming costlier for the consumers, she said at the GST Day 2023.

HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. «The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large.

A newly-listed crypto project, MEME token, took the crypto space by storm after it clocked over 20,000% in 24 hours. 

finance minister Nirmala Sitharaman on Saturday lauded public sector banks and said their net profit has almost tripled to Rs 1.04 lakh crore in FY23. She said, «Public sector banks doing well; their net profit almost tripled to Rs 1.04 lakh crore in fiscal 2022-23.» She said performance of public sector banks have improved on account of various initiatives taken by the Modi government since 2014.

Bhavik Rathod, SVP and head at Scaler School of Technology shares his views on opportunities  and challenges of the education system in India with FE Education Online.

Are banks more prone to interest rate cycle or is it manufacturing business which is more vulnerable to higher interest rates. A software company with a net margin of 10 percent is probably not worth looking at but if an infrastructure and construction company has a net margin of 10 percent it is not bad at all.

July 1, 2017: India woke up to an unprecedented transformation in its tax landscape as the Goods and Services Tax (GST) took center stage, promising to be the answer to demands for a streamlined indirect taxation system for 1.4 billion citizens. With its motto, «One nation, One market, One tax,» GST aimed to bring unity and benefits for all stakeholders, governments, taxpayers, and administrators alike.The giant leap in taxation history: One umbrella for all GST's introduction marked a significant milestone in the history of taxation in India.

The comments came during a panel discussion at the Polkadot Decoded event in Denmark. W3F chief legal officer Daniel Schoenberger stated regulation has hitherto slowed innovation in the sector by not creating new frameworks that reflected the technology’s properties.

The United Kingdom on Thursday officially passed legislation to regulate cryptocurrencies and stablecoins as part of its broader financial regulatory reforms post-Brexit.

In fast-paced digital times, where data is abundant and easily accessible, data analytics has become an invaluable tool for individuals seeking to take control over their personal finances. With business intelligence (BI) tools, financial service providers can empower consumers with unprecedented opportunities to gain deeper insights into their financial habits, optimize budget strategies and achieve long-term financial goals.

According to Cointelegraph, South Korea’s government is taking steps to protect cryptocurrency investors from collapsing by passing a new cryptocurrency bill. Supposedly, this step will help to avoid incidents such as the fall of  Do Kwon’s Terra ecosystem.

Oshi no Ko chapter 123 is scheduled for release on July 6, 2023, at 12 am JST. Fans have multiple options to access the manga, including the MANGA Plus app provided by the publisher, Shueisha. This free app offers online manga reading and supports various languages such as English, Spanish, and French. Additionally, readers can choose to purchase Oshi no Ko chapter 123 in various formats, both physical and digital. Popular retailers like Amazon, Barnes & Noble, and Book Depository offer manga for sale. For those who prefer a traditional reading experience, obtaining a copy of Weekly Young Jump magazine, where Oshi no Ko is published, is another option. This magazine can be found in stores like comic book shops and convenience stores. With these accessible avenues, fans of Oshi no Ko can eagerly anticipate the release of chapter 123 and engage with the ongoing storyline through their preferred reading method. In Chapter 122 of Oshi no Ko, a significant revelation occurs as Aqua finally recognizes Ruby as the reincarnation of Sarina, his childhood friend who tragically passed away in a car accident. Despite his efforts to care for her, Ruby rejects his advances, asserting that he is not her brother. This rejection leaves Aqua heartbroken, but he eventually discloses his own identity as the reincarnation of Gorou Amamiya, Sarina's father. The chapter concludes with a poignant scene wherein Aqua and Ruby lock eyes, both fully aware of the truth surrounding their past lives. This moment holds immense emotional weight and serves as a pivotal moment, setting the stage for a forthcoming and undoubtedly intense confrontation in the upcoming chapters.

journalism came to an end asWiener Zeitung, one of the world's oldest newspapers, bid farewell to its daily print edition on Friday. This conclusion came after more than three centuries. The final front page of Wiener Zeitung’s print edition paid homage to the newspaper’s remarkable legacy, featuring the statement, «320 years, 12 presidents, 10 emperors, 2 republics, 1 newspaper.» It was shared by a Twitter user along with the tweet, «The oldest newspaper in the world — the Wiener Zeitung — has been printed for the last time. This is the final front page.» Reactions started to pour in soon after the announcement was made. A user wrote, «Damn. I'm in Vienna today, June 30th, I'm gonna find this, frame & preserve it.»