ITAU BANK
Brazil's Itau agrees to buy AI startup NeoSpace for $589 million
In a significant move to enhance its artificial intelligence capabilities, Brazilian lender Itau has agreed to acquire NeoSpace AI for 2.925 billion reals. This investment will be structured with an initial payment followed by a deferred balance over a period of five years. The partnership, which has lasted nearly two years, is still pending regulatory approval and other standard closing conditions, highlighting Itau's commitment to advancing its technological prowess.
40-plus bilateral missions between India & Brazil since September 2023 as two seek to upgrade partnership
PM Narendra Modi’s proposed visit to Brazil in November for the G20 summit is expected to boost partnership with Latin America’s biggest economy and President Lula. Ahead of that, Brazil's Foreign Minister Mauro Vieira is expected to lead a mission here in August.
Brazilian lender Itau launches crypto trading
Initially, Itau's new service will allow trading of bitcoin, the most popular cryptocurrency, as well as ether, but the lender aims to later add others, said digital asset head Guto Antunes in an interview.
The global sugar shortage is about to ease thanks to a corn supply boom
For consumers fighting rampant food inflation, the plunging sugar prices will be a respite. The global sugar shortage had caused prices of the item to rise up to an 11-year-high.
Singapore's Shopee changes the game in Brazil's ecommerce sector
Shopee took just two years to become Brazil's most-downloaded shopping app, winning users to its low-cost marketplace with its game-changing approach to e-commerce: in-app mini-games offering coupons to winning users.
Buffett-backed Nubank to seek IPO valuation of over $55 bn: Sources
In a recent funding round led by Warren Buffett's Berkshire Hathaway Inc, Nubank was valued at $30 billion. With 40 million clients in Latin America, Nubank is the latest of several fast-growing financial services companies - often serving customers overlooked by banks - grabbing investors' attention.
- Go To Page 1
Facebook relaunches WhatsApp money transfers in Brazil
WhatsApp had launched its payments services in Brazil in June, but the central bank suspended it some days later alleging it could damage the country's existing payments system in terms of competition, efficiency and data privacy.
WhatsApp Business to make interaction with services easier
With the new app, the Facebook-owned company hopes that businesses will be able to establish direct contact with consumers seamlessly while ensuring authenticity.
Iron ore in free fall as port holdings expand
Iron ore’s in free fall. Prices dipped as port stockpiles in China expanded to the highest level in more than a year.
WEF 2015 Davos summit begins; fight against terror to hog limelight
The yearly jamboree of the global elite is being attended by over 2,500 political and business leaders, including Union Ministers Arun Jaitley and Piyush Goyal.
India to have strong presence at WEF's Davos meet
Among other engagements, Finance Minister Arun Jaitley is expected to talk at WEF on how new leadership is transforming the business.
WEF Davos meet next week; Arun Jaitley, Piyush Goyal to participate
Meeting against the backdrop of the world economy facing multiple challenges, the 45th edition of the WEF meet would discuss 'The New Global Context'.
Global investment firms losing market share to local competitors in developing nations
Stagnant revenue, job cuts and pressure to shrink quickly and curb compensation have weighed down banks based in London, Zurich and New York.
Defaults poised to grow from Brazil to India as rates climb
State Bank of India, the nation's largest lender, said last month that higher provisions for bad debts cut fourth-quarter profit by 99%.
Attractive valuations spark search for BRIC bargains
The biggest drop in emerging-market stocks since October 2008 is giving money managers the chance to find bargains in world-class companies from Sao Paulo to Moscow that are leading their peers in profit growth.
US IPO market flexes muscle raising $10 bn in 1 day
There is growing evidence that the market for initial public offerings is rebounding after essentially disappearing at the height of the credit crisis as two new issues raised a combined $10 billion Wednesday.
Banco Santander to invest $1.2 bn in Brazil unit
Spain's Banco Santander will invest $1.2 billion over the next two years in its Brazilian operations and open 400 new branches, bank president Emilio Botin said on Friday.
Slippery crude knocks Petrobras, Brazil real drops
Brazilian stocks eased on Friday as falling commodity prices knocked Petrobras and Vale, while the local currency fell sharply against the dollar, which benefited from lower oil and metal prices.
Daiwa and Brazil's Banco Itau to form ties
Japan's Daiwa Securities Group Inc will tie up with Brazil's Banco Itau in five areas including asset management and investment banking.
SBI, ICICI Bank beats MasterCard on brand valuation
The country’s number one commercial bank, the government-owned State Bank of India (SBI) and leading private sector bank, ICICI Bank (ICICI), beat the globally renowned “There are some things money can’t buy...” brand, MasterCard, on brand valuation!
Institutions expect a hike in education loan limit
Private educational institutions and industry are expecting the government to raise in the next Budget the limit of educational loans from Rs 4 lakh to Rs 5.50 lakh without collateral security as the cost of education has gone up.
Load More
