Platform Financial News

FDI proposal for foreign investment of up to Rs.9589 crore in Suven Pharmaceuticals Limited by private equity firm Advent International through its Cyprus based Berhyanda Ltd. Advent International has entered into a definitive agreement in December last year to acquire a 50.1% stake in Hyderabad-based Suven Pharmaceuticals, a listed contract research and manufacturing services (CRAMS) firm promoted Venkat Jasti and his family members for Rs 6,313 crore paying ₹495 per share.

Amid a broader market sell-off, TRON ($TRX) has defied the odds, showcasing a remarkable bull run that has caught the crypto community's attention. At the same time, a relatively new entrant, InQubeta ($QUBE), has embarked on a meteoric rise that defies conventional market trends. While the broader cryptocurrency market experienced a significant sell-off, these top DeFi projects have defied the trend, posting substantial gains.

In recent years, the investment flow into the real estate’s alternative asset class has highlighted Data centers and co-living as the favored choices for global institutional investors. According to Colliers India’s latest report, alternative assets in India received cumulative investments of about USD2.0Bn during the last 4-5 years (2019-H1 2023), led by foreign investors. Foreign investments accounted for 78% of the total investments in the segment, as investors continued to seek newer markets and newer avenues segments to diversify their asset portfolio while enhancing risk adjusted returns.

India has decided to make a change in its plans for the ‘G-77 plus China’ summit. Originally, External Affairs Minister Dr S Jaishankar was set to lead the Indian delegation to Cuba for this significant event. However, due to a special parliamentary session scheduled for September 18, all government ministers, including Jaishankar, must be in New Delhi.

The return of large tech IPOs this week after a prolonged drought isn't just a test of investors' appetite for risky new offerings — it's a key moment for Wall Street's top advisor, Goldman Sachs.

Binance.US Chief Executive Officer Brian Shroder has left the crypto trading platform and been replaced on an interim basis by Chief Legal Officer Norman Reed, according to a company spokesperson.

Whenever Jimmy Kraft is about to watch the New York Yankees, he first checks a calendar to make sure he is subscribed to the right streaming app. “There is a little bit of prep involved," said Kraft, who juggles a multitude of services to watch his favorite team, including the YES streaming app; ESPN+; the Fox Sports app; Apple TV+; and Amazon’s Prime Video. “It’s difficult to keep up." Kraft, a 39-year-old website developer from the Rochester, N.Y., area, is learning what it takes to be a sports fan in the streaming era.

Alibaba Group has launched its artificial-intelligence model, Tongyi Qianwen, to the public, making it the latest Chinese company to tap the country’s fast-growing AI market. Chinese tech giants have been racing to launch generative AI models to rival OpenAI’s ChatGPT.

Gadkari retracts six airbag statement, says government will not make it mandatory. In 2022, Gadkari had said Indian Government has made it mandatory to have 6 airbags rule for passenger cars. The rule was reportedly set to come into force in October, 2023.

A philanthropic group whose funders include the Bill & Melinda Gates Foundation and MacKenzie Scott is giving $124 million to historically Black colleges and universities, aiming to shore up—and ultimately expand—the financially strapped schools. The money, from Blue Meridian Partners, will go to the HBCU Transformation Project, which launched last year and currently provides grants to 40 public and private schools for projects focused on improving enrollment, retention and graduation rates.

The co-operative in March published the findings of a 12-week period of sandbox testing, in which almost 5,000 transactions were simulated between two different blockchain networks and with existing fiat-based payment systems. The beta solution has taken its next step, with three central banks and monetary authorities, including the Hong Kong Monetary Authority (HKMA) and the National Bank of Kazakhstan, integrating the solution with their own infrastructure for direct testing.Swift has also initiated a second phase of sandbox testing, in which commercial banks, central banks and financial market infrastructures are exploring additional use cases, including trigger-based payments for digital trade platforms, foreign exchange models, delivery vs payment and liquidity saving mechanisms.

«People are misusing genuine OTT platforms to bypass the system because they are not regulated, they are not subject to any security regulations.

In the ever-evolving landscape of cryptocurrency, Bitcoin continues to hold its ground, currently trading at $25,952, reflecting a noteworthy 3% increase on this Wednesday.

Meta Platforms in San Francisco federal court on Tuesday, accusing the tech giant of misusing their works to train its Llama artificial-intelligence software. Chabon, Tony-winning playwright David Henry Hwang and authors Matthew Klam, Rachel Louise Snyder and Ayelet Waldman in a lawsuit said Meta taught the Llama large-language model to respond to human text prompts with datasets that included pirated versions of their writings.

UPI, debit, and credit cards, direct-to-bank, via QR code scans, buy-now-pay-later, wallet, and link-based payment options. The Payment Lounge is underpinned by PhiCommerce’s omnichannel payment platform PayPhi - a one-stop solution that serves businesses' diverse payment needs across both online and offline channels.

Solidus Labs, a leading entity in crypto-native trade surveillance and risk monitoring, has recently unveiled that a minimum of $2 billion worth of cryptocurrency has been wash-traded on Ethereum-based decentralized exchanges (DEXs) since 2020. This revelation is part of Solidus Labs' latest Crypto Market Manipulation Report.

telecom carriers— Reliance Jio, Bharti Airtel and Vodafone Idea have completed the Telecom Commercial Communications Customer Preference Regulations (TCCCPR) trials for voice and are readying a strategy to implement the regulatory framework. «The framework is already ready. Trials have been done, and very soon it (TCCCPR) will be rolled out.

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₹350 crore mark in India on Day 7 of its release. Directed by Atlee and produced by Red Chillies Entertainment, this action-packed thriller had previously crossed the ₹300 crore mark. As per Sacnilk.com, the film raked in approximately ₹27.22 crore net in India on its sixth day since release.

The head of Binance.US, the US offshoot of the largest crypto exchange Binance, has left the digital assets giant as the company is reportedly cutting its workforce by one-third.

European venture capital giant Lakestar, an early supporter of fintech unicorn Revolut, has emerged as a prominent backer of French fintech startup Swan.