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Crypto exchange Binance to pay Rs 18.82 cr fine to restart India operations

Crypto exchange Binance to pay Rs 18.82 cr fine to restart India operations

Leading blockchain and cryptocurrency platform Binance will be required to pay Rs 18.82 crore fine to restart operations in India.

The Financial Intelligence Unit (FIU) has imposed this penalty on the company for operating in the country in violation of domestic anti-money laundering regulations.

"After considering the written and oral submissions of Binance, the Director, FIU-IND, based on the material available on record, found that the charges against Binance were substantiated," a notification by FIU said on Thursday.

Global fund investments in India will accelerate in future: Analysts

Global fund investments in India will accelerate in future: Analysts

The Indian stock market has seen a significant rally in recent months and is now attracting global funds which are going to accelerate in the near future, according to top analysts. The Indian stock market performance has been very impressive for the last one year. National Stock Exchange (NSE) benchmark Nifty surged nearly 6 per cent in the last month, 11.84 per cent in the last six months, 7.65 per cent since the beginning of this year, and nearly 25 per cent in the last one year.

India emerging as promising alternative to China for chipmaking equipment firms

India emerging as promising alternative to China for chipmaking equipment firms

The chipmaking equipment industry is looking to establish operations in India, as the country emerges as a promising alternative to China amid tensions between Beijing and the West. The international chip industry group SEMI is set to host its Semicon exhibition in India for the first time in September. This exhibition has previously been held in the US, Japan, Europe, Taiwan, South Korea, China, and Southeast Asia, reports. Several Japanese companies, including Tokyo Electron, Disco, Canon, Tokyo Seimitsu and Daifuku are scheduled to attend. Tokyo Electron will showcase equipment for wafer deposition, coating and other front-end steps in the chipmaking process.

Tesla stockholders approve Musk’s $56 billion pay package

Tesla stockholders approve Musk’s $56 billion pay package

Tesla stockholders have overwhelmingly approved the $56 billion pay package (now valued at $44.9 billion) for the company’s CEO Elon Musk, along with reincorporating the electric vehicle company in the US state of Texas, moving it from Delaware. The Tesla board won approval for Musk's 2018 pay package with 73 per cent of the vote, according to the company. The company last valued Musk’s package at $44.9 billion (in April) as Tesla’s stock has nosedived by nearly 25 per cent this year.

Massive increase in likes on X after making them private: Elon Musk

Massive increase in likes on X after making them private: Elon Musk

A day after making likes private on his social media platform X, Elon Musk on Thursday said that the move has resulted in a massive hike in the number of likes for millions of users worldwide. The tech billionaire had made all likes private by default to help people avoid retaliation from trolls and “better protect user privacy." In a fresh post on X, he said that there has been a “massive increase in likes after they were made private.” After this change, the X users will not be able to see the posts that other users have liked on the platform.

SK Telecom to invest $10 mn in Perplexity for AI search cooperation

SK Telecom to invest $10 mn in Perplexity for AI search cooperation

SK Telecom, a leading South Korean mobile carrier, said on Thursday it will invest $10 million in US Artificial Intelligence (AI) startup Perplexity to cooperate on AI search services. Perplexity also plans to invest in Global AI Platform, an AI service developing arm of SK Telecom in Silicon Valley, according to the Korean company. However, it did not elaborate on the financial terms of the US side, reports news agency.

Adani One partners with Cleartrip to provide users bus travel options

Adani One partners with Cleartrip to provide users bus travel options

Adani One on Friday said that it partnered with Flipkart-owned online travel aggregator Cleartrip to enhance the travel experience for its users by providing the widest range of bus travel options at competitive fares. Cleartrip will provide Adani One user access to more than three lakh routes and over 10 lakh bus connections from private operators and state transport buses, the company said. Adani One’s association with Cleartrip spans multiple offerings, including flights and hotels, further enriching the travel ecosystem.

Adani Solar ‘Top Performer’ in Kiwa PVEL’s PV Module Reliability Scorecard for 7th year

Adani Solar ‘Top Performer’ in Kiwa PVEL’s PV Module Reliability Scorecard for 7th year

Adani Solar, the solar photovoltaic (PV) manufacturing arm of the Adani Group, on Friday, said it has been recognised as a 'Top Performer’ in the 10th Edition of Kiwa PVEL’s PV Module Reliability Scorecard. Adani Solar is the only Indian manufacturer to have maintained Top Performer status for seven consecutive years. Kiwa PVEL is a leading independent laboratory serving the downstream solar industry. Their annual Scorecard highlights manufacturers that have produced PV modules demonstrating noteworthy results in independent testing, the company said in a statement.

Once valued at $22 billion, Byju’s is now worth 'zero'

Once valued at $22 billion, Byju’s is now worth 'zero'

In what could be a shocker to many, edtech firm Byju’s, which was once valued at $22 billion, is now worth zero, according to a research note by financial firm HSBC. HSBC has assigned zero value to investment company Prosus' nearly 10 per cent stake (or about $500 million) in Byju’s. "We assign zero value to Byju’s stake amid multiple legal cases and funding crunch,” according to the HSBC note.

28,000 unionised workers of Samsung set to stage walkout over wages

28,000 unionised workers of Samsung set to stage walkout over wages

Unionised workers of Samsung Electronics were set to launch a one-day walkout over wages on Friday, a union official said, in what would be the first walkout at the technology giant. About 28,000 members of the National Samsung Electronics Union (NSEU) were set to collectively take the day off, but some analysts expected the labour action to have no major impact on production. The NSEU said it will not disclose the number of workers joining the walkout, saying the decision should be made voluntarily, reports news agency.

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