Ant Group as a whole will apply to become a financial holding company that is overseen by China’s central bank as billionaire Jack Ma’s financial technology giant makes efforts to calm regulatory concerns in the country. All of the company’s institutions engaged in financial businesses will be included in the financial holding company and be […]
Chennai Financial Markets and Accountability (CFMA), an investor protection body, on Tuesday, raised serious concern about the balance repayment of over Rs 14,000 crore to be made by Franklin Templeton Mutual Fund (FTMF) to its three lakh unit-holders in the six shut debt schemes. “FTMF has paid Rs 9,122 crore and an additional Rs 2,962 […]
Merchant commerce platform Pine Labs on Tuesday said it has acquired Fave, Southeast Asia’s fast-growing consumer fintech platform, for over $45 million. Pine Labs said that with this acquisition, the consumers in India will be able to use Fave app later this year to save across 500,000 merchant network points powered by Pine Labs across […]
Every successful project has a proper ‘scope of work‘ perfectly laid before it starts. The project owners and proponents often do not realize its importance. The probable reasons could be a waste of their time and money; however, it leads to project failure and not meeting the project deadline. In other words, it is called […]
Confederation of All India Traders (CAIT) General Secretary Praveen Khandelwal, in a counter to Gautam Adani, has disapproved of the Adani Group joining hands with Flipkart, “killers of small businesses”. Replying to Adani, Chairman, Adani Group on Twitter, Khandelwal said: “Regrets. It’s the same #flipkart which is indulging in flouting rules & policies and facing […]
Tata Consultancy Services (TCS) on Monday reported a 14.9 percent growth in its consolidated net profit for the January-March quarter on a year-on-year (YoY) basis at Rs 9,246 crore. During the same period of FY20, the company had reported a consolidated net profit of Rs 8,049 crore. The revenue from operations of TCS during the […]
Digital stockbroking firm Upstox, one of the official partners of the Indian Premier League (IPL), has admitted a data breach, saying that the financial details of its users are completely safe. However, cyber security researchers said at least 25-30 lakh users may be affected and the hacker is asking $1.2 million ransom. According to independent […]
The supply for chips in the tech market reportedly is at a critical level. Some reports claim that the delivery might also take up to 30 weeks if the chips are ordered from Qualcomm. Although there are various reasons why the delay is occurring, most of the companies had to look for alternatives especially because […]
Database company Redis Labs on Wednesday said it had closed $110 million (about Rs 818 crore) in financing led by a new investor, Tiger Global, which brings the company’s valuation to more than $2 billion. The company’s Series G round also includes participation from another new investor, SoftBank Vision Fund 2, and existing Redis Labs […]
Leading Italian tech accessories company Celly on Wednesday announced to enter the India market with Beetel as its distributor. Founded in Italy in 1998, Celly is now an Esprinet Group’s brand, with over 4 billion euros in turnover and more than 1,500 employees. The brand aims to launch over 20 products in India by the […]
Samsung Electronics on Wednesday expected a market forecast-beating earnings for the first quarter of 2021, estimating its operating profit at $8.3 billion for the first three months of the year, up 44.2 percent from a year ago. The forecast came as its mobile business fared well, offsetting a relatively tepid performance from the semiconductor business. […]
