Samsung started production of 3nm Chips that can be used for Bitcoin mining
Mon, Jul 4, 2022 1:09 PM

Samsung started production of 3nm Chips that can be used for Bitcoin mining

Samsung, a global leader in electronics, announced on June 30 that it has begun manufacturing chips utilizing its most recent 3-nanometer (nm) technology. The brand-new chips can be used in Bitcoin mining equipment. In comparison to 5nm circuits, Samsung's 3nm devices, consume up to 45 percent less power and perform 23% better, the company said.

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GoI asks steel industry to draw time-bound action plan to cut CO2 emission
Mon, Jul 4, 2022 1:04 PM

GoI asks steel industry to draw time-bound action plan to cut CO2 emission

The iron and steel industry globally accounts for nearly 8% of total carbon dioxide (CO2) emissions on an annual basis, while in India, it adds 12% to the total CO2 emissions, as per government data. Owing to this, the Ministry of Steel has directed the stakeholders to draw a time-bound action plan to lower emissions in the steel industry.

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After economy minister's abrupt resignation,USD premiums surge in Argentina
Mon, Jul 4, 2022 1:02 PM

After economy minister's abrupt resignation,USD premiums surge in Argentina

After Martin Guzman, Argentina's Economy Minister abruptly resigned on Saturday, the price of dollar-pegged stablecoins surged throughout exchanges. The price to purchase Tether (USDT) using Argentine pesos (ARS)is approximately 12 percent higher than it was prior to the resignation announcement and 116.25 percent higher than the current fiat exchange rate of USD/ARS.

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Crypto hedge fund Three Arrow Capital files for bankruptcy
Mon, Jul 4, 2022 12:57 PM

Crypto hedge fund Three Arrow Capital files for bankruptcy

On June 1, representatives of Three Arrow Capital (3AC) filed for bankruptcy in a court in the New York, which legally protects US assets of insolvent foreign debtors from US creditors. This is days after its liquidation started in the British Virgin Islands. A British Virgin Islands court last week mandated the liquidation of 3AC's capital after they were unable to pay back a $670 M loan.

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Akasa Air has unveiled the uniform for its airline crew
Mon, Jul 4, 2022 12:48 PM

Akasa Air has unveiled the uniform for its airline crew

India's newest airline, Rakesh Jhunjhunwala-backed Akasa Air, has unveiled the first look of the uniform for its airline crew. The uniform features a youthful and contemporary design and the colours of the uniform reflect the warm, friendly, and happy personality of Akasa Air, according to the newly constituted aviation company.

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Users claim Voyager cheated customers with $250,000 insurance from FDIC
Mon, Jul 4, 2022 12:48 PM

Users claim Voyager cheated customers with $250,000 insurance from FDIC

Metropolitan Commercial Bank recently declared that FDIC insurance does not shield against Voyager's insolvency, any wrongdoing by the business or its employees, or the depreciation in value of crypto or other assets. Voyager promoted the FDIC’s insurance package of up to $250k to raise money from investors & attract customers. Now users are accusing the platform of scamming them.

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Future Ceramics commences work on Glazed Vitrified plant at Morbi
Mon, Jul 4, 2022 12:43 PM

Future Ceramics commences work on Glazed Vitrified plant at Morbi

A wholly-owned subsidiary of Asian Granito India Limited (AGL), Future Ceramic Pvt Ltd, has started working on the large format glazed vitrified tiles (GVT) plant at Morbi. AGL is one of the largest Luxury Surfaces and Bathware Solutions brands in the country. The shares of AGL are currently trading in the red.

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Renault's compact SUV Kiger logs 50,000 units production milestone
Mon, Jul 4, 2022 12:42 PM

Renault's compact SUV Kiger logs 50,000 units production milestone

Despite the pandemic and ongoing semiconductor crisis, French automaker Renault’s compact SUV Kiger has reached the 50,000 units production milestone from its Chennai plant, said Renault India Operations, Country CEO & Managing Director, Venkatram Mamillapalle. The compact SUV Kiger was developed in partnership between the design teams in France and India.

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APSEZ  handled the highest-ever cargo in a quarter at 90.89 MMT in Q1
Mon, Jul 4, 2022 12:38 PM

APSEZ handled the highest-ever cargo in a quarter at 90.89 MMT in Q1

Adani Ports and Special Economic Zone Limited (APSEZ) revealed on Monday that it had taken care of the highest-ever cargo in a quarter at 90.89 MMT (million tonnes) in the April-June quarter of this financial year. The aforementioned numbers depict a spike of 8 percent on a year-on-year basis.

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HDFC Bank registers 1.9% increase in quarterly profits
Mon, Jul 4, 2022 12:30 PM

HDFC Bank registers 1.9% increase in quarterly profits

HDFC Bank has revealed that its quarterly profits amounted roughly to Rs 13,950 billion as of June 30, 2022. The aforementioned amount is indicative of a 1.9 percent growth from Rs 13,688 billion, recorded in the January-March quarter. The shares of HDFC Bank are currently trading marginally up.

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Mon, Jul 4, 2022 12:30 PM

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In order to expand in Saudi Arabia, YAP has raised a whopping $41 million
Mon, Jul 4, 2022 12:23 PM

In order to expand in Saudi Arabia, YAP has raised a whopping $41 million

A digital bank based out of the United Arab Emirates, YAP, revealed on Monday that it had successfully garnered a whopping $41 million in funding. The firm intends to raise another $20 million. The company intends to deploy the aforementioned funds to expand its operations in Saudi Arabia.

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Umang Papneja appointed as India unit CEO by Julius Baer
Mon, Jul 4, 2022 12:19 PM

Umang Papneja appointed as India unit CEO by Julius Baer

Swiss wealth management group, Julius Baer, has appointed Umang Papneja as the new chief executive officer (CEO) for Julius Baer India, effective 1 August 2022. Before venturing into this role, Papneja was the chief investment officer at IIFL Wealth Management where he provided strategic guidance for investment decisions across asset classes. He joined IIFL wealth in 2009.

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Va Tech Wabag spikes after resuming operation of AGCC Russia project
Mon, Jul 4, 2022 12:16 PM

Va Tech Wabag spikes after resuming operation of AGCC Russia project

The shares of Va Tech Wabag Ltd. staged a rally during Monday's afternoon session. The aforementioned stock rally came after the company revealed that it had resumed the operations of its AGCC Russia Project. The Company bagged an Engineering and Procurement ('EP') order from Amur Gas Chemical Complex LLC. in Russia in August 2021.

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Adani Enterprises appears as lowest bidder in CIL's coal import tender
Mon, Jul 4, 2022 12:12 PM

Adani Enterprises appears as lowest bidder in CIL's coal import tender

During Coal India’s maiden coal import tender floated on behalf of power generation companies, Adani Enterprises Ltd emerged as the lowest bidder. As per reports, the company quoted Rs 4,033 crore for the supply of 2.416 million tonnes (MT) of coal on a freight-on-road (FOR) basis. Coal India Ltd floated its first tender to import 2.416 MT of coal on June 9.

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