BUSINESS
20 CEOs at Indian startups quit this year amid regulatory concerns, funding winter
Data compiled by Fintrackr showed that in the first eight months this year, nearly 20 startup CEOs have left their position to either join a new firm or continue in the same company in a different role.
Proposals worth Rs 7,800cr approved to enhance armed forces' operational capabilities
The Defence Ministry said this decision has been taken to enhance the efficiency of the Indian Air Force (IAF), the DAC has granted AoN for procurement and installation of Electronic Warfare (EW) Suite on Mi-17 V5 Helicopters.
Indian banks set to reward shareholders with the highest dividend in seven years
The country's banks are forecast to take their share in aggregate payout across all sectors to 13% for the year ending March 31, 2024, according to S&P Global Market Intelligence. This is up from 12 per cent for the fiscal year ended March 31, 2023, and 9 per cent in the year ended March 31, 2022.
Near term market outlook turns positive
Weakening US economic data, particularly the decline in the US manufacturing PMI from 49 to 47, has led to sharp decline in the US 10-year bond yield by 14 bp to 4.19 per cent. This might turn the short-term cycle of capital flows again in favour of EMs like India, he added.
RBI raises transaction limit for small value offline digital payments to Rs 500
"This directive shall come into effect immediately," a notification issued by the central bank said.
Brazilian president calls for replacement of US dollar hegemony
Advocating the creation of a common currency for cross-border trade between BRICS nations without affecting national currencies, Lula da Silva said at the BRICS Business Forum Leaders' Dialogue that an alternative to the US dollar needs to be found in the international market, Xinhua news agency reported.
Nvidia makes record $6.1 bn in profit as gaming becomes mainstream
The company reported revenue of $13.51 billion for the quarter ended June 30, up 101 per cent from a year ago and up 88 per cent from the previous quarter. Gaming revenue was up 22 per cent (year-over-year) to reach $2.48 billion.
PayPal moves Delhi HC against order holding it as a Payment System Operator under PMLA
Represented by senior counsel, PayPal argued before a bench of Chief Justice Satish Chandra Sharma and Justice Sanjeev Narula that the single judge's order was wrong.
QIA to invest Rs 8,278 crore in Reliance Retail for 0.99% equity stake
The investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore.
Crypto firms raise $2.3 bn in VC funding in Q2, lowest since Q4 2020
Data from BitcoinCasinos.com revealed the substantial deceleration in VC funding within the crypto space.
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