WPP, the world’s biggest advertising company said, it would immediately relaunch its buyback scheme. The development comes in the wake of its efforts to help clients shift online to get through the worst of the pandemic. The company took a major hit in early 2020 because of the coronavirus-induced COVID-19 pandemic which triggered its clients…
In a significant development that sees Facebook gaining entry into India’s booming digital payment space, WhatsApp has been granted approval to role its payments service in India. WhatsApp, which has over 400 million users in India, its biggest market, will compete with Alphabet Inc’s Google Pay, Softbank- and Alibaba-backed Paytm and Walmart’s PhonePe. Menlo Park,…
On Wednesday, Alibaba Group Holding Ltd backed Chinese electric vehicle (EV) manufacturer Xpeng stated it has raised $400 million from investors including Xiaomi Corp, to fund its growth. The fundraising comes at a time when industry watchers as well as bankers describe as an increasingly tough financing environment for Chinese EV startups who are jostling…
The development marks Blockchain’s technology’s growing traction in the financial industry. In a development that marks Blockchain’s growing traction in the asset management industry, HSBC stated it had settled forex trades worth $250 billion (£194.15 billion) using blockchain in 2018. The development assumes significance since until now this sector had hesitations on embracing blockchain technology.…
In a landmark development that is aimed at streamlining, boosting efficiency and which introduces next-gen technology in the financial services sector, for the first time a government-led efforts along with players from the financial sector industry are collaborating to launch a blockchain-based trade and finance platform. The banking industry is known for its insistence on…
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