Mobile Financial News

The well-known fiat-crypto payment gateway Alchemy Pay hasreached a noteworthy milestone when it obtained a Money Services License in the US state of Iowa. This achievement, which was declared on November 23, 2023, comes after they were successful in getting an Arkansas money transmitter license earlier. Obtaining these licenses is a significant milestone in Alchemy Pay's ambitions to increase its market presence internationally as well as evidence of its regulatory compliance.

By Valerie Volcovici

COP28 President Sultan Al Jaber defended his role in hosting this year's UN climate summit and insisted he understood and respected the science of climate change. He was responding to a December 3 report in the Guardian newspaper on comments he made last month on the phase-out of fossil fuels that have sparked criticism at COP28. The Guardian story had quoted Al Jaber saying during a November 21 online event that "there is no science out there, or no scenario out there, that says that the phase-out of fossil fuel is what's going to achieve 1.5C".

Manipur witnessed fresh violence in a series of violent incidences that has gripped the state since May, 2023. According to media reports citing officials, 13 people were killed in a gunfight between two groups of militants in Manipur's Tengnoupal district. The incident took place at Leithu village on Monday afternoon, PTI reported.

Central Board of Indirect Taxes and Customs (CBIC) has enabled two-factor authentication for all e-waybill and e-invoice systems to further enhance the security of the goods and services tax systems. The feature was enabled on December 1 and was rolled out on Monday. Currently the pilot rollout has been done for a state of Haryana and after seamless operation of the same in the state, it is being rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi taxpayers in the first phase. In the second phase, it will be rolled out across the country. “Currently, 2FA (two factor authentication) will be rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi in the first phase.

Virtual RAM has now become ubiquitous in smartphones. After being present in PCs for years, the technology is being used by smartphone brands to make their products, especially in the entry-level and budget segments, more compelling to customers who treat the amount of RAM as a key factor in making the purchase decision.

Chicago is scrambling to house hundreds of asylum-seekers who are still sheltering on sidewalks, at police stations and at the city’s busiest airport as the cold weather sets in and with winter just around the corner

Kalpataru Projects International Limited (KPIL) on Monday announced bagging new orders worth Rs 2,263 crore in the domestic and overseas markets. The company's transmission and distribution (T&D) business has secured orders totalling Rs 1,564 crore in India and overseas markets, KPIL said in an exchange filing.

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smartphone users expected to wield a 5G handset buoyed by falling prices and countrywide network coverage, industry executives said. Top smartphone brands such as Xiaomi, Oppo, Vivo, Realme and Samsung have set in motion plans to flood the India market with 5G smartphones at aggressive price-points. Their partner retailers have unveiled a slew of price cuts and offers to quickly clear out 4G smartphone stocks to make way for the next-gen gizmos. Industry body India Cellular & Electronics Association (ICEA) estimates the country’s installed base of 5G phones to jump more than two-fold to around 500 million by December 2025 from around 150 million in end-December 2023, and make up over 70% of the total smartphones base. “The growth will be driven by consumers demanding faster connectivity options, coupled with a gradual decrease in 5G smartphone prices, especially with models above Rs 13K and those below Rs 10K becoming predominantly 5G-enabled,” Pankaj Mohindroo, chairman of ICEA, told ET. Nationwide 5G rollouts by telcos and advent of companion devices and HD content too will help drive mass appetite for 5G smartphones, industry experts and handset market trackers said. The signals are already there. Xiaomi, Oppo, Vivo, Realme and Samsung have dropped prices of their older 4G handsets as well as the 5G devices launched earlier this year.

World Bank is working with a club of 15 finance bosses to lower the risk of investing in climate projects in emerging economies and attract private capital for cutting emissions. Ajay Banga, the World Bank's president, said the Private Sector Investment Lab is focused on «figuring out a model of originate-to-distribute» that would allow for deep-pocketed investors to put up large sums for climate deals. The creation of a «securitizable asset class in these kinds of investments, where large pension funds, large players like BlackRock will find a very attractive place to put billions to work,» is a key target, he said at the Bloomberg Business Forum at COP28. PSIL, which launched in June under the auspices of the World Bank, also includes BlackRock Inc.'s chief Larry Fink, AXA SA Chief Executive Officer Thomas Buberl and Noel Quinn, head of HSBC Plc. The group is focused on specific approaches that the World Bank can implement after years of struggling to mobilize the vast sums of money needed to help developing countries adapt to climate change and transition to clean energy. The World Bank has also stepped up action on other fronts, including allowing some vulnerable countries to potentially pause debt repayments and hosting a fund for climate damages. Shriti Vadera, who co-chairs PSIL, said the group is working on financial guarantees because these are «the most efficient and most well-known and used form of credit support.» The PSIL has looked at first-loss and whole-portfolio guarantees, said Vadera, who is chair of Prudential Plc. The goal is for the World Bank to «create a much more simplified set of guarantee products that can be used across different markets,» she said.

COP28 Declaration on Climate and Health, with sources pointing out that curbing greenhouse gas use for cooling in the health sector, which is one of the points in the document, may not be practical or achievable within the country's healthcare infrastructure in the short term.

GTA or Grand Theft Auto trilogy to its platform. Grand Theft Auto: The Trilogy — The Definitive Edition, set to launch on December 14, is not merely a game release; it's a groundbreaking move that seamlessly merges streaming and gaming within the Netflix universe.

Logistics automation player, NIDO Group India has said that it is aiming to reach revenues of Rs 700 crore in the next four years by March 2027. The company also said that it plans to expand its reach in smaller markets towns. “While the majority of NIDO Group’s revenues come from tier 1 markets, we are now witnessing some strong demand from warehouses based in smaller towns of the country.

While Nifty is up over 11% so far in the calendar year, India's m-cap has increased by about Rs 55 lakh crore in 2023, led by the outperformance of small and midcap stocks as well as a flood of IPOs on Dalal Street. India had joined the coveted $3 trillion club in May 2021. The journey of market capitalization of Indian listed companies from $2 trillion (July 2017) to $3 trillion (May 2021) took about 46 months, whereas the last $1 trillion i.e., from $3 trillion to $4 trillion took only about 30 months. While the $4 trillion market capitalization is an important milestone, data suggests that only 0.35% of the total private companies registered with the Ministry of Corporate Affairs, Government of India are listed on the Exchanges, indicating an enormous number of companies which can tap the equity market for their funding needs. In the current financial year as of October 2023, more than Rs 5,00,000 crores have been mobilized through primary markets across equity and corporate bonds.

India), has secured Rs 200 crore of investment from Piramal Alternatives. TSI has more than 14,000 ATMs under management and offers automated Bill Pay solutions for utility companies.

ChatGPT. Aside from the OpenAI’ celebration, we also witnessed WhatsApp banning nearly 75 lakhs in India. Here is weekly tech wrap up from this week.

By Andrew Hay

Bajaj Auto initiated the launch with the refreshed Chetak Urbane. The updated base variant features a modified range, drum brakes, and a single Eco riding mode. Additionally, it comes with a more economical price starting at ₹1.15 lakh, and the Tecpac variant, offering enhanced connectivity options, electronic aids, and an extra riding mode, is priced at ₹1.21 lakh (all prices, ex-showroom).

When and where to watch India vs Australia 5th T20 match? The 5th and final T20 international between India and Australia will be played on Sunday, 3 December at the M. Chinnaswamy Stadium, Bengaluru. The match will begin at 7:00 PM and the skippers of both teams will enter the grounds for toss at 6:30 PM.

Google is rolling out a bulk select feature in the Gmail mobile app on Android and iOS devices. The feature is available to all Google Workspace customers and users with personal Google Accounts.