Didi’s digital payments unit was fined 4.27 million yuan ($632,170) on Friday by China’s central bank for a dozen rule violations, amid an effort by the ride-hailing company to appease regulators. The unit was fined for violations that included transactions not meeting the requirements for traceability and authenticity, opening payment accounts for enterprises involved in […]

South Korean chipmaker SK Hynix Inc is considering cutting its 2023 capital expenditure by about a quarter to 16 trillion won ($12.16 billion), Bloomberg News reported, citing people familiar with the matter. The move by SK Hynix, the world’s second-largest memory chip maker after Samsung Electronics, is in response to slower-than-anticipated electronics demand, according to

Private sector rocket maker Agnikul Cosmos on Wednesday opened its first 3D printed rocket engine factory located at the IIT Madras Research Park. According to Agnikul Cosmos, the factory has been designed keeping in mind the ability to produce two rocket engines per week for its rocket Agnibaan. Agnibaan is a two stage rocket with

China’s gaming regulator granted publishing licences for 67 online games, including titles belonging to developers Youzu Interactive and iDreamSky. Industry giants Tencent and NetEase did not receive licences in the July batch, nor in the two previous batches in April and June. The release of the July list provides relief for firms in the world’s

South Korea‘s Hyundai Motor Co plans to build its first fully dedicated electric vehicle (EV) factory in South Korea, targeting production by 2025, the automaker’s union said on Tuesday, citing its leader. In May, Hyundai Motor Group, which houses Hyundai Motor and Kia Corp, announced its plans to invest 63 trillion won ($48.07 billion) in

Tech giant Sony is removing access to hundreds of movies and TV shows on its PlayStation Store service next month, meaning users that previously paid for titles such as Paddington and The Hunger Games will no longer be able to watch them. The shutdown affects users in Germany and Austria, according to legal notices posted

Russia’s dominant lender Sberbank on Saturday said it had carried out the first digital financial asset transaction on its own platform, with its subsidiary SberFactoring executing a 1-billion rouble ($16 million) issue with three-month maturity. The Bank of Russia has long voiced scepticism over cryptocurrencies, but is more open to other digital assets and gave

The US Treasury said on Thursday it had delivered “a framework” to President Joe Biden for international engagement and an inter-agency approach to address the risks and benefits of digital assets. The framework also directs the administration to promote development of digital asset and central bank digital currencies (CBDC) technologies. The United States must continue

Digital banking platform Revolut said, it was launching a streamlined version of its app in Sri Lanka, Chile, Ecuador, Azerbaijan, and Oman in the next few months. Allowing customers to transfer money to over 50 countries using more than 30 currencies. The London-based company said there would be no fee for customers transferring to other