Platform Financial News

SME Credit Report 2023 released today in collaboration between GetVantage and Redseer Strategy Consultants estimates that a potential US$ 220 Bn credit deficit poses a roadblock to unlocking the economic potential of millions of digitised businesses. Out of the current US$ 220 Bn requirement (as of FY22), Redseer analysts estimate US$ 165 Bn as serviceable when adjusted for sick and commercially unviable businesses. Even after an infusion of US$ 53 Bn in FY22 into the market through various channels, the current working capital deficit stands at US$ 112 Bn.

real money gaming platform Fantok has suspended operations citing the impact from the Goods and Services Tax (GST) Council’s decision last month to impose a 28% levy on the full face value of gaming transactions. “The evolving landscape of regulatory measures in the real money gaming sector in India, as announced earlier this year, has presented complex legal hurdles that have forced us to reevaluate our direction,” the bootstrapped company said in a LinkedIn post. This has come in the light of several real money gaming platforms either cutting down scale or halting operations altogether following the GST announcement. Notably, the new levy is yet to be implemented, and is only expected to come into force from October. “Our legal advisors have indicated that the current environment creates uncertainties that we cannot ignore.

targeted advertisements and give researchers more access to data on how its products work, to comply with landmark European Union online content rules, the Alphabet unit said on Thursday. Known as the Digital Services Act (DSA), the new rules are more onerous for Meta Platforms, Microsoft, Twitter, booking.com, Pinterest, Snap Inc's Snapchat, Wikipedia, Zalando and Alibaba's AliExpress because of their large number of users. The DSA will go into effect on Friday and requires companies to do more to tackle child sexual abuse material and disinformation, be more transparent on their algorithmic processes, bots and targeted advertisements and to remove illegal, unsafe or counterfeit products sold on their platforms. «We will be expanding the Ads Transparency Center, a global searchable repository of advertisers across all our platforms, to meet specific DSA provisions and providing additional information on targeting for ads served in the European Union,» Google's vice president for trust and safety, Laurie Richardson, said in a blogpost. «We will increase data access for researchers looking to understand more about how Google Search, YouTube, Google Maps, Google Play and Shopping work in practice, and conducting research related to understanding systemic content risks in the EU,» she said. The U.S.

₹213.45 apiece on the BSE with a market capitalization of ₹1.35 lakh crore. On BSE, Jio Financial Services shares were locked at ₹215.90 apiece.

Real estate investment in India is undergoing a revolutionary transformation with more and more Indians choosing serenity, top-of-the-line technology, and sustainability as their primary criteria. These trends are not restricted to residential real estate, but even commercial spaces are reflecting these choices wherein smart technologies and ‘human’ elements are far outweighing traditional choices.

Income Tax Return Verification and Refund News (August 24): Many taxpayers submit their returns on the e-filing portal of the Income Tax Department before the due date but forget to verify. As per tax rules, all ITR filers are required to verify their returns within 30 days. When a taxpayer fails to verify his/her ITR, such return is not taken for processing and may result in non-issuance of tax refund (if applicable).

Media and entertainment company Shemaroo Entertainment Ltd has announced the appointment of Manisha Dey as head of the devotional and music category. Dey comes with over 25 years in the media and entertainment industry, and has led content and partnerships at audio streaming service Gaana where she helped launch music and entertainment flagship properties such as ‘Gaana Originals’ and ‘Gaana Film Exclusives.’ Prior to Gaana, Dey has led content portfolios at music labels including Saregama-HMV, Tips Music & Films, Music-Today, Milestone-EMI and so on and served as national content head-VAS (value added services) role at IDEA cellular.

TikTok is reportedly planning to ban links to outside e-commerce websites such as Amazon, as it ramps up its shopping platform in the US. The move is seen as a way for the company to force people to use TikTok Shop if they want to purchase an item that they see on the app, reports 'The Information'. According to the report, TikTok Shop is on track to lose more than $500 million in the US this year. «TikTok Shop, the app's nascent shopping service, is expected to lose more than $500 million in the US this year,» said the report, citing sources. The loss reflects TikTok's heavy investment in hiring, building a delivery network and «subsidising merchants that offer double-digit-percentage discounts and free shipping,» the report added. Consumers in the US are spending around $3-$4 million a day on TikTok Shop. The company expects this figure to exceed $10 million by the end of the year. TikTok, the short video platform owned by ByteDance, launched online shopping service TikTok Shop in 2021, starting in Indonesia.

Tesla and SpaceX CEO Elon Musk on Thursday said that news organisations can also get a share of X's advertising revenue. In his latest bid to woo journalists after paying creators via his X advertising revenue programme, the X owner has now proposed a new way for media houses to make money. «Our advertising revenue share programme also applies to organisations (news or otherwise) who wish to participate,» he posted. On Tuesday, the billionaire invited journalists to publish directly on X (formerly Twitter) and earn a higher income, as he started stripping headlines and text from news articles shared on the platform. On X, posts with news articles only included the lead image and the URL, stripping out the headline and text and links displayed only an article's lead image. «This is coming from me directly.

Pepe Coin (PEPE) is a meme coin inspired by the famous internet frog that has become a symbol of counterculture and freedom of expression. Pepe Coin aims to create a decentralized community of meme lovers who can share, create, and trade digital art on the blockchain. Pepe Coin has a total supply of 100 billion tokens, of which 50% are burned, 25% are locked for liquidity, and 25% are distributed to holders and developers.

Narendra Modi highlighted the historical role of trade in connecting people, cultures, and technology. He emphasised how trade and globalisation have lifted millions out of extreme poverty throughout history. Prime Minister Modi expressed optimism about the Indian economy, stating that India is seen as a land of opportunities, openness, and choices.

Stan has 2.2 million paying customers, a figure revealed by Nine Entertainment for the first time as the media group flagged free trials of the streaming service were coming to an end.

₹2.5 lakh (ex-showroom), the new e-scooter is the most expensive to be sold in India. Bookings for the TVS X will begin at midnight on 24 August, while deliveries are expected to start in November. The TVS X is based on the company's Xleton platform which is claimed to be over 2.5 times stiffer than the normal scooters.

Liquid Inc., the company responsible for Japan's widely recognized eKYC solution «LIQUID eKYC,» announced a strategic partnership with Binance, the world's largest cryptocurrency exchange by trading volume and users, on August 10, 2023.

Tabcorp has posted a $66.5 million net profit after tax in its first year after the demerger of its lotteries and Keno business, as a growing wagering business offset softer market conditions.

What might persuade affluent 20- and 30-somethings to give to charity

Baldur's Gate 3, the latest role-playing game developed by Larian Studios, has been in early access for a while, undergoing significant changes. The game encompasses magical battles and perilous adventures in the Underdark, with player choices determined by dice rolls. Addressing the question of whether Baldur's Gate 3 can be played on the Steam Deck, the answer is yes. The game has received the Steam Deck Verified badge, ensuring smooth performance on this handheld gaming device. The Steam Deck is an excellent match for those wanting to carry their Baldur's Gate 3 experiences on the go. To get started, the game needs to be acquired on Steam. Playing Baldur's Gate 3 on Steam Deck is now feasible, thanks to a Proton Experimental update. By bypassing the Larian Launcher, the game can run at around 30-40 frames per second. It's recommended to slightly adjust the screen refresh rate to 40Hz for optimal performance. However, there's a notable aspect to consider: controller support. While Larian Studios has assured controller support at launch, certain questions remain unanswered. Presently, the support for the Steam Deck's integrated controller is functional. Players can begin playing almost instantly without extra setup. Interested players can access Baldur's Gate 3 on platforms, such as Steam and Good Old Games. The game offers a chance to engage in its immersive world filled with choices and challenges, now also available on the portable Steam Deck gaming device.

Blackbird Ventures has backed a little-known New Zealand subletting platform Kiki, as the startup tries to take a bite of the Big Apple.

The Digital Dollar Project is the brainchild of former CFTC chair Chris Giancarlo, ex-CFTC chief innovation officer Daniel Gorfine and Pure Storage CEO Charles Giancarlo, who have set up a not-for-profit to encourage research and public discussion about a CBDC.The project worked with Western Union, BDO Unibank in the Philippines, and Accenture on the latest pilot, designing and configuring a platform using DLT to simulate the payments infrastructure necessary to transfer digital dollars to Philippine pesos. The partners say that they saw reduced counterparty and credit risk thanks to instant settlement.

Top esports and gaming influencers, including Ricky “FaZe Banks” Bengston, Nordan “FaZe Rain” Shat, and 100 Thieves CEO Matthew “Nadeshot” Haag, are among the leading earners on the new social token platform Friend.tech.

Introduction to FreedomGPT