Innovations Financial News

Karnataka is set to get Rs 15,000 crore in investments for research and development (R&D) in the electric vehicles (EV) sector, Industries Minister MB Patil said on Wednesday. The state has so far attracted investments of about Rs 25,000 crore in the sector, across the value chain, he said.

Deloitte India on Wednesday said it expects GDP growth in the current fiscal to be in the range of 6.5-6.8 per cent primarily due to upcoming festive spending as well as higher government expenditure before the national elections mid-next year. In its India economic outlook report, released earlier this month, Deloitte said India will need at least 6.5 per cent growth every fiscal to become the world's third largest economy by 2027, with its Gross Domestic Product (GDP) crossing USD 5 trillion.

The professional organization that runs the Canada Pension Plan‘s investment fund is taking issue with a process assessing whether Alberta should break away from the national pension scheme.

International Solar Alliance on Wednesday held the curtain-raiser for the 6th session of the International Solar Alliance Assembly, scheduled to be held from October 30-November 2. At the event in Delhi, RK Singh, Minister of Power and New & Renewable Energy and the President of the ISA, said the rate of growth of renewable capacity in the country has perhaps been one of the highest in the world, if not the highest. The association has been working on various projects to ensure affordable access to solar power around the world.

Aditya Birla Sun Life AMC, said, “Our new passive offerings present an opportunity for investors to potentially earn higher returns, gain currency diversity, and access a trusted treasury market. It enables the investor to tap into the unique opportunity arising from a temporary yield curve dislocation in one of the world’s largest debt markets. At ABSLAMC, we always strive to offer innovative solutions that suit our investors' changing needs." The investment objective of the scheme is to generate returns that are in line with the performance of units of ETFs focused on US Treasury Bonds having maturity between 1-3 years.

Aditya Birla Sun Life Mutual Fund announced the launch of the Aditya Birla Sun Life US Treasury 3-10 Year Bond ETFs Fund of Funds, an open-ended fund of funds scheme investing in units of ETFs focused on US Treasury Bonds having maturity between 3-10 years.

In the latest on-chain DEX-launched skyrocket, Pokemon crypto Ash Satoshi token ($SC4) has erupted in a jaw-dropping +4,322% move.

Bharti Airtel has launched an integrated omni-channel cloud platform called Airtel CCaaS (contact centre as a service) under its Airtel IQ vertical, it said in a statement Wednesday. The new platform gives end to end solutions for contact centres including voice, cloud, and software.

With a focus on market positioning, customer engagement, and data-driven decision-making, the CMO plays a critical role in shaping the company's direction, ensuring its competitiveness, and enhancing its reputation in a rapidly evolving business landscape. In this introduction, we will explore the key responsibilities and significance of the CMO role in modern business operations. The Course: Chief Marketing Officer Programme by IIM Lucknow In recent years, the rapid evolution of technology has brought about profound changes in how businesses operate, market their products and services, and engage with customers.

WhatsApp passkeys for iPhone users. The company has disclosed that Android support for passkeys will be introduced gradually over the upcoming weeks and months. Passkeys provide an alternative to traditional passwords by utilizing the authentication methods present on your device.

South Korea’s Financial Supervisory Service (FSS) is looking to establish comprehensive guidelines for the issuance and distribution of cryptocurrencies to enhance the Virtual Asset Users Protection Act passed earlier this year.

Nourish Ingredients, a company with backers including superannuation fund Hostplus and Hong Kong billionaire Li Ka-shing, is preparing for a capital raising next year as it rolls out a breakthrough product it says makes plant-based “meat” so much better.

Federal Reserve Governor Michelle Bowman believed that implementing U.S. central bank digital currency (CBDC) could pose significant risks and tradeoffs for the country’s economic system.

The Fed has been investigating the pros and cons of a digital dollar for several years, publishing a discussion paper on the issue in January 2022. At a Harvard Law School event on Tuesday, Bowman argued that the US has a "safe and efficient" payments system that is already evolving with "responsible innovations, notably the recently-launched FedNow. She continued: "Future innovations may further build upon these services to more effectively address payment systems frictions and financial inclusion. It is quite possible that other proposed solutions may address many or all of the problems that a CBDC would address, but in a more effective and efficient way." Meanwhile, a retail CBDC could have unintended consequences for the US banking system and considerable consumer privacy concerns, said Bowman. "If not properly designed, a CBDC could disrupt the banking system and lead to disintermediation, potentially harming consumers and businesses and presenting broader financial stability risks." Despite her scepticism, Bowman said that she sees value in continuing to research CBDCs, noting the "interconnected and global nature of the financial system".

Corporate India is clearly towards inclusion, notwithstanding the Supreme Court saying no to same-sex marriages. HR and diversity, equity and inclusion (DEI) heads at leading corporates including Godrej, Lupin, Axis Bank and Publicis Sapient said the SC order will not hamper India Inc's drive to become more progressive and inclusive organisations. A five-judge constitution bench headed by Chief Justice of India DY Chandrachud on Tuesday said the Supreme Court could not strike down the provisions of the Special Marriage Act and that Parliament should decide on the issue. However, it also issued directions to prevent discrimination against the queer community, recognise the right of transgender persons in heterosexual relationships to marry under the existing legal framework, and so on. «Inclusion is a long journey, and we are getting there,» said Parmesh Shahani, head of Godrej DEI Lab, adding that be it in terms of innovation or profitability, companies have realised that inclusivity is the way to go. «While a clearer marriage equality verdict would be more helpful, companies that want to be progressive will continue being progressive,» he said.

Crypto-focused investment firms Coinbase Ventures and Haun Ventures are joining forces with the University of Arkansas to support a technology accelerator program, strengthening the US state of Arkansas's position in the crypto landscape.

Paul Grewal, the Chief Legal Officer of Coinbase, took to Twitter on October 4, 2023, to address the U.S. Securities and Exchange Commission's (SEC) recent filing against the company. The SEC has opposed Coinbase's motion to dismiss the case against it, a move that Grewal describes as «more of the same old same old.»

On October 2, 2023, Visa Inc., a global leader in payment solutions, announced a $100 million fund dedicated to generative artificial intelligence (AI). The fund is designed to invest in startups and established businesses that are at the forefront of developing generative AI technologies and applications, particularly those that have potential applications in commerce and payments.