BUSINESS
Alibaba Founder Jack Ma resurfaces, cites 'difficult' year to rural teachers
The billionaire was last spotted in Tokyo, living a quiet and peaceful life amid the big tech crackdown in his home country. "Teachers have had a difficult year. You had to teach while protecting children," he told about 100 teachers from China's rural areas in an annual live video speech under his 'Rural Teachers Initiative', reports South China Morning Post.
Food delivery platform Grubhub to pay $3.5 mn for misleading customers
Grubhub will pay $800,000 to Washington, DC as a civil penalty while the remaining $2.7 million "will be paid back to the affected customers." Those with active Grubhub accounts will receive a refundable credit and if the credit is not used within 90 days the money will be sent to customers in the form of a check.
Former FTX CEO Sam Bankman-Fried to enter 'not guilty' plea
Bankman-Fried, charged by the US Attorney for the Southern District with eight counts including securities fraud and money laundering, is set to appear before US District Judge Lewis Kaplan in Manhattan, New York. Bankman-Fried was released on a $250 million bond, "the largest-ever pretrial bond", in December amid his trial for committing fraud and other criminal charges.
UPI payments failed on NY Eve, shoppers hassled
People using UPI-based services faced trouble with sending and receiving payments on New Year Eve. Taking to the micro-blogging platform Twitter, several users reported the issue. While one user asked, "Is it only me facing UPI payment errors?", another said, "UPI payments down....last 1hour not working.According to downdetector.com, a website that monitors online outages, 53 per cent of people reported the issue with their UPI application, 37 per cent complained of issue during payments and 11 per cent reported that they faced trouble with funds transfer.
Global cybersecurity market grows 16% to reach $17.8 bn in Q3
Cisco was the second-largest cybersecurity vendor, with growth of 16.7 per cent and a flat market share of 6.9 per cent. Fortinet placed third, achieving growth of 29.9 per cent to reach a 6.7 per cent market share, up from 6 per cent a year ago, according to market research firm Canalys. Endpoint security was the fastest-growing category, up 18.7 per cent year on year at $2.7 billion.
Centre to roll out new integrated food security scheme on Jan 1
As per the decision made by the Cabinet, the new scheme would provide free food grains to 81.35 crore beneficiaries under NFSA, for the year 2023. The scheme would also ensure effective and uniform implementation of the National Food Security Act (NFSA). According to the Ministry of Consumer Affairs, the government has social and legal commitment to the people of the nation -- a dignified life by ensuring them access to food and nutritional security through availability of adequate quantity of quality foodgrains.
What is the Best Crypto Exchange to Trade GHS Mikey's Guide to Cryptocurrency Trading
Crypto exchange tft to ghs is a digital currency that is created through the process of mining. It is a decentralized system where the value of the currency depends on the computing power and hard work of its users who are rewarded with newly generated cryptocurrency for their efforts
For Pakistan, 2022 was the worst year in economy and business
The sectors that have faced the wrath of the economic recession during the year 2022 include textile industry and its allied sectors, agriculture, import material-based industries and automobiles, triggering a widespread wave of unemployment and job losses in the country. Pakistan's currency fell by at least Rs 49.31 against the US dollar and interest rate shot up to at least 16 per cent, the highest since 1998-1999.
The Market: 2022 in retrospect and looking at the year ahead
The year began with what people thought would be a skirmish between Ukraine and Russia on February 24. It is getting close to 11 months now, and there seems no end to the same. This war saw disruptions of many kinds as Ukraine is the world's largest supplier of wheat and food grains to many countries. It disrupted oil supply and sanctions on Russia and its retaliation saw Europe struggling with winter having set in as far as oil and gas is concerned.
Bank credit growth to be stronger in Q4FY23: Emkay Global
According to a report by Emkay Global, the Indian banking sector performance was led by stronger than-expected credit growth after years of a lackluster performance, sharp margin uptick benefiting from the rate cycle and a far stronger balance sheet now. The public sector banks (PSB), too, have joined the party, outperforming even private banks in the recent past.
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