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Paytm Shares Surge Nearly 6% After NPCI Approves Onboarding of New UPI Users

After the National Payments Corporation of India NPCI authorised the business to onboard new customers for digital payments via UPI, reducing a signif

After the National Payments Corporation of India NPCI authorised the business to onboard new customers for digital payments via UPI, reducing a significant regulatory burden, shares of the Indian fintech company Paytm PAYT.NS surged by about 6% on Wednesday. Users of UPI, a popular realtime payment system, may send money without sharing their bank information. The permission came after the Reserve Bank of India RBI ordered the winding down of Paytms banking arm in January, and the companys secondquarter statistics revealed a drop in its user base due to regulatory issues. According to analysts, this action lowers regulatory concerns and might aid Paytm in regaining its customer base. However, a crucial obstacle still stands as the business needs RBI permission for payment aggregation. Read More..

B2B Tech News | 2 months ago        

BRICS Nations Represent 37.4% of Global GDP, Outpacing G7, Says Putin at Business Forum

President Vladimir Putin stressed at the BRICS business conference that the BRICS group is expected to propel significant global economic growth in th

President Vladimir Putin stressed at the BRICS business conference that the BRICS group is expected to propel significant global economic growth in the future years due to its size and rapid expansion. The summit is scheduled in Kazan from October 22–24. In contrast to the G7, which accounted for 29.3% of the world GDP, the BRICS countries total GDP exceeded $60 trillion last year, or around 37.4%. Putin informed the guests that the goal of BRICS is sustainable growth, not hostility against other countries. Given Russias geopolitical isolation, business executives from South Africa and Egypt recognised the enormous potential inside BRICS, pointing to expansions in infrastructure projects, commerce, and agricultural imports. Read More..

B2B Tech News | 2 months ago        

Hyundai Motor India Shares Fall 5% on Market Debut, Despite Record ₹27,000 Crore IPO

In contrast to the ₹1,960 offer price, Hyundai Motor Indias shares fell 5% on their market debut, listing at ₹1,934. Retail investors hesitated be

In contrast to the ₹1,960 offer price, Hyundai Motor Indias shares fell 5% on their market debut, listing at ₹1,934. Retail investors hesitated because of price worries, fearing limited profits, even though the record ₹27,000 crore $3.3 billion IPO was oversubscribed more than twice. Targeting a $19 billion value, Hyundai, the secondlargest carmaker in India with a 15% market share, saw its market capitalisation close at about ₹1.51 trillion $17.96 billion. Brokerages such as Nomura and Macquarie initiated coverage with "buy" and "outperform" ratings, citing strong potential in Hyundais SUVcentric portfolio amidst slowing car sales in India, despite analysts concerns over the high P/E ratio of 26 times fiscal 2024 earnings compared to Maruti Suzukis 29 times. Read More..

B2B Tech News | 2 months ago        

Nigeria Blocks Shells $2.4 Billion Oil Sale to Renaissance Consortium, Approves Exxons Deal with Seplat

Although Nigeria approved Exxon Mobils identical deal with Seplat Energy, it vetoed Shells proposed $2.4 billion sale of all its onshore and shallowwa

Although Nigeria approved Exxon Mobils identical deal with Seplat Energy, it vetoed Shells proposed $2.4 billion sale of all its onshore and shallowwater oil businesses to the Renaissance group. Without providing more information, Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission NUPRC, said that Shells acquisition "could not scale the regulatory test." Shell is disappointed by this decision since it wants to concentrate on deepwater investments in the face of growing problems in Nigeria, such as theft and sabotage in onshore operations. Security concerns have caused oil majors to pull out of Nigerias onshore sector. Exxons transaction, pending clearance for more than two years, permits Seplat to acquire large shares in infrastructure and oil leases. Read More..

B2B Tech News | 2 months ago        

Thoma BravoBacked Sophos Expands Cybersecurity Portfolio with Secureworks Acquisition

Thoma Bravobacked cybersecurity company Sophos announced that it acquired SecureWorks from Dell Technologies for $859 million in cash to improve its p

Thoma Bravobacked cybersecurity company Sophos announced that it acquired SecureWorks from Dell Technologies for $859 million in cash to improve its products for business clients. Despite Secureworks shares dropping 1.5% to $8.35 in early trade, stockholders, including Dell, will receive $8.50 per share. Secureworks was founded in 1998 and is wellknown for its potent threat detectionfocused Taegis cloud platform. But in the face of intense competition, the firm has struggled to set itself apart from the competitors, as seen by its 17 centspershare quarterly loss. After purchasing UKbased Darktrace for almost $5.3 billion, Thoma Bravo aims to develop a robust cybersecurity portfolio, another step in that direction. Early 2025 is when the agreement is anticipated to close. Read More..

B2B Tech News | 2 months ago        

Santander Launches Openbank in the U.S., Targeting $30 Billion in Auto Loans

To facilitate up to $30 billion in vehicle loans and grow its retail operations nationwide, Santander launched its digital bank, Openbank, in the US.

To facilitate up to $30 billion in vehicle loans and grow its retail operations nationwide, Santander launched its digital bank, Openbank, in the US. Santander has about $45 billion in retail deposits and over $60 billion in vehicle loans, with a network of 409 locations, mainly in the Northeast. The bank intends to outperform competitors like Goldman Sachs by providing competitive interest rates, beginning with a 5.25% return on savings accounts. Even though Santander stopped making mortgage loans in 2022, it still plans to assess Openbanks development prospects to help small companies. This digital project must be successful to boost the banks lately declining U.S. profitability. Read More..

B2B Tech News | 2 months ago        

WTO Projects 3% Growth in Global Trade by 2025, Contingent on Stability in the Middle East

The World Trade Organisation WTO raised its estimate for global commerce from 2.6% to 2.7% in 2023. If Middle Eastern tensions continue to be managed,

The World Trade Organisation WTO raised its estimate for global commerce from 2.6% to 2.7% in 2023. If Middle Eastern tensions continue to be managed, the organisation expects this growth to accelerate to 3% in 2025. After a fall caused by high inflation and rising interest rates last year, there has been a rebound leading up to this adjustment. Concerns about possible setbacks brought on by intensifying regional conflicts—particularly in the Middle East—that may affect shipping routes and energy prices were brought up by WTO DirectorGeneral Ngozi OkonjoIweala. Read More..

B2B Tech News | 2 months ago        

Japanese Payments Firm Infcurion Set to Go Public in 2025, Backed by ¥8 Billion Investment

Infcurion, a Japanese payments business, intends to go public in Tokyo in 2025 to accelerate expansion through acquisitions and mergers. With more tha

Infcurion, a Japanese payments business, intends to go public in Tokyo in 2025 to accelerate expansion through acquisitions and mergers. With more than ¥30 billion in valuation, Infcurion is supported by an investment of ¥8 billion from Sumitomo Mitsui Financial Group. The firm, established in 2006, provides credit cards, digital wallets, and other payment options. Because of the substantial expansion of the credit card issuing platform, it expects to turn a profit this fiscal year. Additionally, Infcurion is looking at growing in Asia since it believes there are a lot of prospects in the businesstobusiness payments market, which still mainly uses bank transfers. Read More..

B2B Tech News | 2 months ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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