Mobile Financial News

The South Korean crypto exchange Bithumb will let customers open NongHyup Bank accounts via its mobile app.

Bharti Enterprises plans to acquire a 24.5% stake in UK's BT Group for around $4 billion from the British firm's largest investor Altice UK, marking the Sunil Mittal-led company's second major international foray after venturing into Africa in 2010. This will make it the largest shareholder in BT, formerly British Telecom. In a statement Monday, Bharti said it has no intention of making an offer to buy control of Britain's largest broadband and mobile firm. Bharti is also not seeking a board seat, chairman Sunil Mittal told reporters. The purchase will be made by Bharti Global, which is the international arm of Bharti Enterprises, through Bharti Televentures. As per the terms of the deal, Bharti Televentures has acquired a 9.99% stake in BT Group's issued capital via open market trade. It will buy the remaining 14.51% after getting regulatory clearances. Mittal expects the deal to close in the coming months.

The Telecom Regulatory Authority of India (Trai) had in February asked telcos to ensure a calling name presentation (CNAP) service on mobile phones, a move aimed at combating spam and scam calls. But senior executives of mobile phone operators and handset companies said the proposed service is almost impossible to implement nationally as it won't work on 2G/3G networks unless huge sums are spent on network upgrades. And that is economically unviable, given the low revenue generation from 2G users.

Indian Railway and National Capital Region Transport Corporation (NCRTC) have collaborated to promote the 'One India — One Ticket' initiative, enhancing the travel experience for passengers on main line railway and Namo Bharat trains, a statement said on Monday. This collaboration aims to provide a seamless travel solution, making it easier for passengers to book and travel using both the Indian Railways and the RRTS services, it said. After booking an IRCTC train e-ticket, users can now opt to book a Namo Bharat train tickets for up to eight travellers per booking as an add-on service. The RRTS booking option will be displayed on the PNR confirmation page and will also be accessible from the user's train ticket booking history, the statement said. A unique QR code will be generated for each RRTS ticket and conveniently printed on the electronic reservation slip (ERS), it said.

lawsuit accusing Google of unlawfully dominating web search on smartphones, but said the consumers should get another chance after a Washington, D.C. court separately ruled the tech giant spent billions to create an illegal monopoly. U.S. District Judge Rita Lin in San Francisco on Friday dismissed the consumers' antitrust lawsuit against Google, finding they had not provided enough factual evidence showing any harm from the Alphabet unit's market dominance. Lin said the plaintiffs could file an amended lawsuit, citing the D.C. court's blockbuster Aug. 6 ruling that found Google's exclusive contracts with Apple and other companies helped it create an illegal monopoly over search engines.

₹23.8 trillion, while that of State Bank of India (SBI) dipped 0.3% to stand at ₹49 trillion. “Most of the banks witnessed growth moderation along with some uptick in credit cost in Q1," Christy Mathai, fund manager—equity, Quantum AMC (Asset Management Company), told Mint. “Deposit mobilization remains the key focus for the banks and incrementally, the cost of deposits has moved higher than yield increases, impacting the net interest margins (NIMs).

Sunil Mittal on Monday said the conglomerate's decision to acquire a 24.5 per cent stake in BT Group marks a «good, long-term investment» and an «attractive buy», citing the British company's strong portfolio of home broadband, fibre, mobile and enterprise offerings. Mittal, a telecom industry stalwart, exuded confidence about the investment and business prospects of BT and indicated that while the priority, for now, is to understand the company and the UK market in-depth, «if there are more opportunities in Europe, we will certainly be open to it in future». On Bharti's decision to buy a 24.5 per cent stake in BT Group — a move that would make it the single largest shareholder in Britain's largest broadband and mobile company — Mittal said: «I think this is a very attractive buy… the UK and European telecom companies are trading at low multiples...so given the cash flow expectations of BT, we believe this is going to be a good investment, and it is a long-term investment.

Kazam EV Tech, which offers several charging products and services for electric vehicles, said on Monday that it raised $8 million in a funding round led by Vertex Ventures. Existing investors like Avaana Capital and Alteria Capital, among others, also participated in this round, the company said. Kazam plans to use the proceeds to strengthen its tech and product teams, increase its offerings and expand its market presence. The firm had raised about $11 million before the latest round, according to data from Tracxn.

«Our maps feature 3D junction views and many other attributes that are hard to replicate or compete with. Of course, people will try, and everyone is welcome to compete fairly, but it is quite challenging.,» says Rohan Verma, CEO & MD, MapMyIndia. Before discussing the earnings and other details, I wanted to get a sense from you about the competition, as you’ve been quite vocal about it. Ola is also a listed player, so I'm trying to understand better what unique selling proposition (USP) you offer and what the moat is for companies trying to catch up in this technology. Rohan Verma: Mapping is a serious business and building it is not at all easy.

BEML Ltd expects the rail and metro segment, along with defence, to be the biggest contributor to its revenue in the near future as it looks to bag export orders for Vande Bharat and metro trains in a few years. «The priority is to roll out the indigenous Vande Bharat trains first. But next year, we will try and should expect something on the export front,» BEML (formerly Bharat Earth Movers Ltd) chairman Shantanu Roy told ET. The company, which reorganised operations this fiscal, is keen to accelerate the make in India initiative. It is working on a few opportunities in the Middle East, South America, and the Asean region for rail and metro exports, Roy said. «The ultimate aim is to have exports around 10% of our top line from the present nearly 4%.»

Telecom companies have called upon the regulator to bring over-the-top (OTT) communication providers such as WhatsApp, Google's RCS and Telegram under regulatory licensing or authorisation since they provide similar services to what mobile phone operators offer. Reliance Jio, Bharti Airtel and Vodafone Idea have also backed the Telecom Regulatory Authority of India's proposal to overhaul the existing telecom licensing regime and bring a pan-India single licence, namely Unified Services Authorisation (National), to enable ease of doing business, simplify regulations, cut costs, reduce litigations and much more, in their response to a consultation paper floated by the regulator. «OTT services and applications have thrived and multiplied, enabling factors being absence of any regulatory barriers and instant access to a global audience through the broadband connectivity powered internet,» Airtel wrote in its response to Trai's exhaustive consultation.

Montreal was drenched in record-breaking rain and hundreds of thousands of homes were plunged into darkness across Quebec as tropical storm Debby‘s last gasps hit eastern Canada on Friday.

Mobile phones priced in the range of Rs 10,000-20,000 dominate the country's smartphone industry, constituting over 40 per cent of the total market size, according to Infinix India CEO Anish Kapoor. Kapoor said the demand for 5G-enabled handset has increased in the recent past and devices priced between Rs 10,000 and Rs 20,000 see higher demand as compared to those priced below Rs 10,000 that used to dominate the market earlier. The stagnancy, which was in the market for the past two years, has changed, and the market has once again started to grow back, said Kapoor who was in Lucknow on Thursday for the launch of the company's latest smartphone Note 40X 5G. "...earlier the phones which were priced under Rs 10,000 used to dominate the market in India, and it was around 35 per cent to 40 per cent. Now, the major market has gone to the mobile phones priced in the range Rs 10,000 to Rs 20,000 now, which is close to 43 per cent," Kapoor told PTI.

Siemens has reported a 25 per cent rise in profit after tax (PAT) at Rs 531 crore during the April-June quarter of this fiscal, on account of higher revenues. The company, which follows the October to September fiscal year, had reported a PAT of Rs 424 crore a year ago, a company statement said on Friday. Its revenues rose to Rs 4,714 crore, up 7 per cent from Rs 4,407 crore in the year-ago period.

Maldives have signed an agreement to introduce the Unified Payments Interface in the archipelago nation, which will have a «very positive» impact on its tourism sector, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. «Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives,» he said in a post on X. Developed by the National Payments Corporation of India (NPCI), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones.

Ola Electric Mobility on Friday announced that it will be holding its first board meeting after the listing on the exchanges, scheduled for August 14, 2024. “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that a meeting of the Board of Directors of Ola Electric Mobility Limited (“the Company”) is scheduled to be held on Wednesday, August 14, 2024, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter ended June 30, 2024,” the company said in a filing to the exchanges.

Ukrainian incursion into Russia's Kursk region was the largest such cross-border raid by Kyiv's forces in the nearly 2½-year war, exposing Russia's vulnerabilities and dealing a painful blow to the Kremlin. The surprise foray has prompted thousands of civilians to flee the region as the Russian military struggles to repel the attack. For Ukraine, the cross-border raid offers a much-needed boost to public morale at a time when the country's undermanned and under-gunned forces have faced relentless Russian attacks along the more than 1,000 kilometre front line. A glance at the Ukrainian raid and its implications.

Ola Electric Mobility listed at ₹76-the price at which the shares were sold in the recent initial public offering-on the BSE on Friday. Subsequently, the stock soared 20% to close at ₹91.2. At close on Friday, the two-wheeler electric vehicle maker had a market capitalisation of ₹40,218 crore. Ola Electric said in an exchange filing it will present its June quarter earnings on August 14. The EV maker's ₹6,145.56crore initial public offering (IPO) was the largest in 2024 so far. It was priced between ₹72 and ₹76 a share. The IPO was subscribed 4.27 times.

Amazon Great Freedom Festival 2024 is here to put a smile on every face it can find including all the kids and their parents. You can find up to 80% OFF on toys and games available on Amazon that you can combine with various other bank offers and coupons. To help you find the best deals and offers on toys, we have curated this excellent article with ample links to take you where the price drops are hot. Check out this article and stock up your kid’s toy collection to facilitate his or her imagination and growth.

Tata Motors to Maruti Suzuki, Japan's Toyota Motor Corporation (TMC) and China's BYD set to take the covers off a slew of vehicles, many in the electric vehicle segment, at the Bharat Mobility Show to be held in January next year. The number of vehicle makers who have confirmed attendance for the upcoming edition of the show is four times that seen in 2023, and highest-ever since the auto expo started in 1986. The participation is also significantly higher than that seen at the 'Big Five' — the five major auto shows held globally in Geneva, Munich, Detroit, Paris and Tokyo — where participation has been dwindling amid high costs and lower footfalls. While 13 carmakers participated at the Munich Auto Show in its latest edition, 20 showed up for the Geneva Motor Show held between Feb 26 and March 3 this year. The mobility shows in Paris and Tokyo saw participation from 11 and 22 vehicle makers, respectively. Around 13 automakers showcased 35 vehicle brands at the Detroit Auto Show last year.

Ola's first foray into the electric bike segment. The new motorcycle will join the company's existing lineup of electric two-wheelers, including the S1X, S1 Air, and S1 Pro, which have already gained traction in the Indian market.Although specific details about the bike remain scarce, Ola Electric has been generating buzz by teasing various design aspects on social media.