Mobile Financial News

Amber Enterprises following the company's September quarter results. In Q2 FY24, the consumer durable firm reported a net loss of ₹4 crore. This loss was primarily attributed to a significant increase in depreciation cost by 42% year-on-year (YoY) and a 50% YoY surge in finance cost.

Optiemus Infracom Ltd, which will be called Bharat Innovation Glass Technologies. “For the first time cover glass will be made in India for both local and international OEMs that are assembling their devices in India. The technology is scalable and can be expanded to support an increase in supplies.

Narendra Modi will kick off this three-day event, as revealed by the Department of Telecommunications on the X social media platform. India Mobile Congress 2023 promises to be a focal point for innovation, knowledge exchange, and networking, making it an essential event for those engaged in the telecom and technology sectors. As per a release by PIB, the event is a collaborative endeavor between the Department of Telecommunications and the Cellular Operators Association of India, and it will be held at Pragati Maidan, Delhi.

revenue from operations of ₹2,519 crore in the second quarter of fiscal year 2023-24 (Q2FY24), marking a growth of 32 percent as compared to ₹1,914 crore reported in the year-ago period. The fintech major posted a consolidated net loss of ₹292 crore during the quarter under review, which is 49 per cent lower as against a loss of ₹572 crore reported in the corresponding period of FY23.

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electric vehicle (EV) maker Wardwizard Innovations & Mobility on Thursday signed an initial pact with the Gujarat government to invest Rs 2,000 crore to develop an EV ancillary cluster by 2024. The proposed investment will be on research and development of electric two-and three-wheelers, setting up a motor assembly unit at the company's Vadodara manufacturing facility, lithium-ion (li-ion) cell production and the development of ancillaries for raw material manufacturing, Wardwizard Innovations & Mobility said in a statement.

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From the U.S. to China, countries around the world are battling it out to lead on financial technology, a heavily lucrative industry that has grown over the years taking everything from retail banking to wealth management online.

MUMBAI : Bankrupt airline Go First is staring at a potential liquidation or torturous recovery given the lack of buyers’ interest, fleet uncertainty and mounting costs, two people aware of the matter said. Meanwhile, its lenders plan to seek more time for a rescue since only one candidate has shown interest in the airline so far. Go First’s revival was clouded further by a 3 October government notification that said leased aircraft and engines would not come under the bankruptcy moratorium.

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Top US banking regulators have updated decades-old rules that are meant to tackle redlining and boost lending to lower-income areas. 

Environmentalists have slammed Malaysia's move to let Australian miner Lynas import and process rare earths until March 2026

Electric bus maker PMI Electro Mobility Solutions on Wednesday announced raising funds in the form of strategic investment to the tune of Rs 250 crore from Piramal Alternatives, the fund management business of the Piramal Group. The freshly raised capital will bolster company's business expansion and sustainability issues, PMI Electro Mobility said in a statement.

₹250 crore from Piramal Alternatives, the fund-management arm of the Piramal Group, to bolster its green mobility initiatives. Piramal Alternatives made the investment from its Performing Credit Fund (PCF), a sector-agnostic vehicle that caters to the capital needs of companies operating in the mid-market segment. The investment was made in the form of convertible securities.

Microsoft, under the leadership of its various CEOs, made significant mistakes in the mobile phone industry. The company’s co-founder Bill Gates once admitted that it was a big mistake to let Google’s Android beat them in the mobile market. The former CEO Steve Ballmer focused too much on their own mobile system and didn’t take Apple’s iPhone seriously enough. Now, the company’s CEO, Satya Nadella, has gone on record to admit that writing off the company’s mobile phone business was a mistake.

Telecom major Reliance Jio has deployed 85 per cent 5G network in India and has the capability to deploy one 5G cell in every 10 seconds, the company’s Chairman Akash Ambani said.

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₹2.77 trillion, with the central government's share being ₹76,760 crore for five years till FY26. The mission is aimed at making Indian cities ‘water secure’.