BUSINESS
We target 50 mn Indian crypto users in 2 years: CoinSwitch Kuber CEO
With more than 15 million users in India, CoinSwitch Kuber has become a new unicorn, and the most valuable crypto company in the country valued at $1.9 billion. Started in 2017 by Singhal, Govind Soni and Vimal Sagar, CoinSwitch launched its India operations in June 2020.
Chingari launches its first NFT marketplace, social token
Recently, the firm completed a funding round of over $19 million from more than 30 venture funds and individual investors. With the funds raised, the company will build features to enable creator monetisation and build utility of the gari token across interesting social media user cases.
Top 10 hackers behind $5.2 bn worth ransomware attacks in Bitcoin
The report, released by the US Treasury's Financial Crimes Enforcement Network (FinCEN) on Friday, found that ransomware-related transactions totalled around $590 million from January 2021 to June 2021, exceeding the $416 million reported for entire 2020.
HDFC Bank's Q2FY22 YoY net profit up 17.6%
The bank's net profit increased to Rs 8,834.3 crore during the period under review over the quarter ended September 30, 2020. Besides, the bank's net interest income (income earned less interest expended) rose 12.1 per cent from Rs 15,776.4 crore to Rs 17,684.4 crore for the corresponding quarter of the previous fiscal.
US DFC COO to visit India to boost global health investments
Marchick, along with a delegation, will arrive in India on October 24. The delegation will visit the office of Hyderabad-based vaccine manufacturer 'Biological E' and sign a Memorandum of Understanding (MoU) with the pharma major to open a new facility with substantial capacity for vaccine manufacturing.
Energy Crisis: China's loss is Indian steel, chemical industries gain
Notably, China's worsening energy situation has impacted its industrial segments and forced factories to cut production. It is also threatening to impact the growth of the country's vast economy and place increased strain on global supply chains. Globally, the increased coal prices, high logistics costs and logistical challenges have led to a rise in raw materials costs across sectors.
IMF commends India's 'swift, substantial' response to pandemic
"Directors commended the authorities' response to the pandemic which includes scaled-up support to vulnerable groups, monetary policy easing and liquidity provision, accommodative financial sector and regulatory policies, and continued structural reforms," the IMF said on Friday reporting on its executive board's consultations held with India to assess the state of its economy and finances. "The authorities' economic response, which was swift and substantial, has included fiscal support, including scaled-up support to vulnerable groups, monetary policy easing, liquidity provision, and accommodative financial sector and regulatory policies.
SCO meet: India calls for special working group on start-ups
The proposal was made by Minister of State for Commerce and Industry Anupriya Patel, in her intervention, at the 20th meeting of the SCO Ministers. Stressing on the need for effective cooperation between the member states for a balanced and equitable growth in trade and commerce, Patel proposed the creation of a new Special Working Group Start-ups and Innovation
Cement demand recovery continues post second wave: Report
Cement demand has picked up from June 2021 onwards, as the Covid impact started to recede. "We expect cement prices to rise during H2FY22, as cost inflation is firming up unabated and has impacted the whole industry. Good demand and increased consolidation should support the industry's cost pass through ability," the report said.
Apple regains 2nd spot in global smartphone market, Xiaomi slips to 3rd
Samsung was the leading smartphone player with 23 per cent share. Xiaomi took 14 per cent share for the third place, while vivo and OPPO completed the top five with 10 per cent share each, according to preliminary data provided by global market research firm Canalys.
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