Category Archives: Business

SCRYPT Integrates Franklin Templeton’s BENJI on its Swiss-Licensed Infrastructure

Zurich, June 25: SCRYPT, the Swiss-licensed institutional digital asset infrastructure provider, has integrated Franklin Templeton’s BENJI, the tokenized share of the Franklin OnChain U.S. Government Money Fund  to optimise and manage its treasury operations. 

The deployment positions SCRYPT among the first Swiss-licensed institutional digital asset infrastructure providers to use a tokenised money market fund issued by a global asset manager for its own internal treasury management. The implementation provides SCRYPT with 24/7, on-chain access to a yield-bearing tokenised money market fund issued by Franklin Templeton. With approximately USD 1.68 trillion in assets under management, Franklin Templeton is one of the world’s largest asset managers and a leading innovator in blockchain-based financial infrastructure.

The integration pairs Franklin Templeton’s global asset management and tokenization expertise with SCRYPT’s Swiss-licensed, institutional-grade trading and custody infrastructure. It serves as one of the clearer demonstrations of how traditional finance and digital asset markets are converging in practice, with a regulated counterparty putting its own treasury on tokenised cash rails before extending the model to clients.

“We built SCRYPT’s bespoke investment strategies to be the regulated bridge between traditional finance and on-chain markets. Integrating BENJI into SCRYPT’s treasury gives us 24/7 intraday liquidity in a tokenised money market fund issued by one of the world’s most established asset managers.” – Sylvan Martin, Founder & CGO, SCRYPT

Crypto markets operate continuously. Traditional money market funds do not. Conventional funds typically settle on T+1 and are constrained by banking-hour market infrastructure, creating a structural mismatch for digital asset firms managing liquidity in real time. With BENJI, SCRYPT is able to deploy idle treasury into a tokenised money market fund with immediate liquidity, operating on the same institutional-grade infrastructure it already uses for trading, settlement, and custody services. 

India–Saudi Arabia Talks Focus on Boosting Ties and Supporting Diaspora

June 25: India and Saudi Arabia have held discussions aimed at strengthening bilateral relations and addressing issues concerning the Indian diaspora living in the Kingdom.

The talks focused on enhancing cooperation across key areas including trade, investment, energy, labour mobility, and people-to-people ties. Both sides reaffirmed their commitment to deepening the longstanding strategic partnership between the two countries.

Special attention was given to matters related to the welfare and safety of the Indian community in Saudi Arabia. Officials discussed ways to improve support mechanisms and ensure smoother resolution of consular and employment-related issues faced by expatriates.

The two countries also explored opportunities to expand collaboration in emerging sectors, while building on their strong energy partnership and growing economic engagement.

Officials noted that India and Saudi Arabia share a robust and evolving relationship, supported by regular high-level exchanges and mutual interests in regional stability and economic growth.

The discussions reflect continued efforts by both nations to strengthen diplomatic ties and enhance cooperation for mutual benefit.

PM Modi to Visit Seychelles for Golden Jubilee Celebrations of National Day

June 25: Prime Minister Narendra Modi is scheduled to visit Seychelles to attend the Golden Jubilee celebrations of the country’s National Day, marking an important milestone in India–Seychelles bilateral relations.

The visit is expected to further strengthen diplomatic ties between the two nations and reinforce ongoing cooperation in areas such as maritime security, trade, development partnership, and regional stability in the Indian Ocean region.

During the visit, the Prime Minister will participate in official commemorative events and hold discussions with the leadership of Seychelles on ways to expand and deepen bilateral engagement. The two sides are also expected to review progress in existing partnerships and explore new avenues of collaboration.

Officials note that India and Seychelles share long-standing and friendly relations built on mutual trust, shared democratic values, and close maritime connectivity. The visit underscores India’s continued commitment to strengthening ties with Indian Ocean island nations and enhancing regional cooperation.

The Golden Jubilee celebrations of Seychelles’ National Day mark 50 years of the country’s national journey, and India’s participation highlights the importance it places on its partnership with Seychelles.

The visit is expected to add further momentum to bilateral relations and support broader cooperation in the Indian Ocean regio

India Monitoring 1,987 Major Infrastructure Projects Across Key Sectors

June 25: The Government of India is currently monitoring 1,987 ongoing infrastructure projects with a total investment value of approximately ₹42.50 lakh crore, reflecting the country’s large-scale focus on infrastructure-led development.

The initiative aims to ensure timely execution, improved efficiency, and better coordination across various infrastructure sectors, including transport, energy, urban development, and logistics. Regular monitoring is being carried out to address delays, resolve implementation challenges, and enhance project delivery outcomes.

Officials noted that infrastructure development remains a key priority for the government, as it plays a crucial role in driving economic growth, generating employment, and improving connectivity across regions. The large number of ongoing projects highlights the scale and ambition of India’s long-term development strategy.

According to available details, the monitoring framework is designed to strengthen accountability and ensure that projects progress as planned. This is expected to help reduce cost overruns and improve overall implementation efficiency.

Experts believe that successful execution of such large-scale infrastructure projects will significantly contribute to India’s economic expansion and support its long-term growth trajectory. Improved infrastructure is also expected to boost industrial activity and enhance ease of living for citizens.

The statement reinforces the government’s continued emphasis on infrastructure development as a key pillar of national economic progress.

ACPET and Tata Power-DDL Partner to Accelerate Research and Innovation for India’s Energy Transition

New Delhi, June 25: The Ashoka Centre for a People-centric Energy Transition (ACPET) and Tata Power Delhi Distribution Limited (Tata Power–DDL) have signed a five-year Memorandum of Understanding (MoU) to advance research, innovation, and capacity building in the domain of the energy and power sector, and to create innovative solutions to support India’s overall energy transition.  

The partnership brings together ACPET’s expertise in research, data analysis, energy policy, and sustainable transitions with Tata Power–DDL’s operational experience as one of India’s leading power distribution entities. Through this collaboration, the two organisations will jointly undertake research, technology demonstrations, policy engagement, and knowledge-sharing initiatives to build a more sustainable, secure, and equitable energy future. 

The collaboration comes at a critical time for India’s power sector, which is witnessing rapid technological and regulatory transformation. The expansion of renewable energy, rising electricity demand, rising consumer expectations, and the need for resilient, low-carbon infrastructure require closer collaboration between academia and industry. Emerging areas such as smart grids, electric vehicles, distributed energy resources, energy storage, demand-side management, and consumer engagement require new knowledge, practical insights, and opportunities for testing and demonstrating innovative approaches. This MoU creates a structured platform through which ACPET and Tata Power–DDL can jointly explore these opportunities and contribute to advancing industry knowledge and best practices. 

As part of the collaboration, ACPET and Tata Power–DDL will jointly pursue research, innovation, customer engagement and capacity-building initiatives aimed at advancing India’s energy transition.  The partnership will focus on undertaking research projects, developing policy briefs and technical reports, and generating evidence-based insights to inform industry practices and policymaking. 

The collaboration will focus on joint research and learning in emerging areas such as smart grids, electric vehicles, distributed energy resources, energy storage, demand-side management, and design innovative regulatory and business models. The partners will also undertake technology demonstrations, organise expert dialogues and training programmes, facilitate knowledge exchange, and explore the establishment of a Centre of Excellence to drive innovation and strengthen institutional capabilities in the power sector. 

Commenting on the partnership, Dr. Praveer Sinha, CEO & Managing Director, Tata Power, said, “India’s energy transition presents a unique opportunity to bring together research, policy, innovation and real-world implementation. As the sector evolves over the coming years, meaningful progress will depend on stronger collaboration between academia, industry, policymakers, startups and innovators. This partnership between Tata Power‘s distribution arm in Delhi and ACPET creates a unique platform that combines academic rigour, policy expertise and industry experience to address emerging energy challenges and develop practical, scalable solutions for the power sector.” 

Vaibhav Chowdhary, Director, ACPET, said, “Technology alone will not deliver India’s energy transition – the human capacity to deploy, operate, and innovate around that technology is equally decisive. This partnership between Tata Power–DDL and ACPET brings together operational depth and research rigour to address both. Our shared goal is to co-create an energy system that is empirically grounded, practically tested, and designed to be sustainable, secure, and equitable for India and the Global South.” 

Rakesh Kacker, Senior Advisor, ACPET, said, “India’s electricity sector is undergoing a profound transformation. We want renewable energy to scale rapidly, but we also recognise that transitions of this magnitude are shaped by historical realities, market dynamics, and technological constraints. This is where a collaboration between ACPET and Tata Power can be especially powerful. ACPET brings academic rigour and robust analytical tools, while Tata Power contributes invaluable insights from implementation on the ground. Together, we can bridge evidence and practice to shape more effective pathways for India’s energy transition.” 

Dwijadas Basak, CEO, Tata Power Delhi Distribution Limited (Tata Power–DDL), said, “The power sector is undergoing a fundamental transformation driven by rapid technological advancements, growing renewable energy integration, distributed energy resources, and evolving consumer expectations. In this dynamic environment, research-led insights and evidence-based policy support are critical to shaping the future of the sector. Our partnership with ACPET will bring together industry experience and academic excellence to develop innovative solutions, strengthen policy and regulatory frameworks, and contribute meaningfully to India’s energy transition journey.” 

As part of the collaboration, Tata Power–DDL will support dedicated research personnel and provide infrastructure access, while both institutions will jointly design and implement research projects, consumer awareness programmes, and dissemination of research outcomes. A Joint Steering Committee comprising representatives from both organisations will provide strategic oversight and guide future activities. 

The collaboration reflects a shared commitment by ACPET and Tata Power–DDL to address the complex technological, regulatory, and societal dimensions of the energy transition. By fostering innovation and translating research into practice, the partnership aims to contribute to India’s vision of a sustainable and secure energy future.

Sensex and Nifty End Marginally Higher Despite Late Selling Pressure

June 25: Indian equity benchmarks closed marginally higher in a volatile trading session, as early gains were partially erased by late selling pressure. Despite intraday fluctuations, both Sensex and Nifty managed to end in positive territory, reflecting a cautious yet stable market sentiment.

The session witnessed a strong start, supported by selective buying across key sectors. However, profit booking in the latter half of the trading day weighed on overall momentum, leading to a moderation in gains by the close of trade.

Market participants observed that investor sentiment remained mixed amid global cues and ongoing domestic developments. While some sectors showed resilience, others faced selling pressure, resulting in a narrow trading range for most of the session.

Analysts noted that the market continues to be driven by stock-specific movements, with investors focusing on corporate earnings, macroeconomic indicators, and global market trends. The overall trend, however, indicates underlying strength in the broader market despite short-term volatility.

Experts suggest that cautious optimism persists among investors, with a focus on quality stocks and long-term positioning. The ability of the indices to hold gains despite late-session weakness is seen as a sign of continued market resilience.

India-Led BRICS Initiative Launches Digital Centre of Excellence for Smart Grids and Energy Storage

June 25: Marking a significant milestone in international energy cooperation, BRICS nations have officially launched a Digital Centre of Excellence (DCoE) dedicated to Smart Grids and Energy Storage under India’s chairmanship. The initiative is aimed at fostering innovation, knowledge-sharing, and technological collaboration among member countries in the rapidly evolving energy sector.

The newly established Centre of Excellence will serve as a collaborative platform for research, capacity building, and the exchange of expertise in smart grid technologies and advanced energy storage systems. The initiative is expected to support the modernization of power infrastructure and facilitate the integration of renewable energy sources across BRICS economies.

The launch underscores the collective commitment of BRICS nations to strengthening energy security, promoting sustainable development, and accelerating the adoption of digital technologies in the energy sector. By encouraging cooperation among governments, industry stakeholders, and research institutions, the Centre will help address emerging challenges related to energy transition and grid resilience.

India’s leadership in establishing the Digital Centre of Excellence reflects its growing role in advancing global clean energy initiatives and promoting technology-driven solutions for sustainable growth. The Centre is also expected to support policy development, skill enhancement, and innovation-led partnerships among member countries.

As energy systems worldwide undergo rapid transformation, the BRICS Digital Centre of Excellence is poised to become an important hub for collaboration, helping member nations build smarter, more efficient, and sustainable power networks for the future.

FIA delivers strongest set of financial results in a decade

Federation continues its financial transformation since election of H.E. Mohammed Ben Sulayem as President in 2021

Dubai, UAE, June 25: The Fédération Internationale de l’Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, has today reported its strongest operating result in 10 years.

For FY2025, the FIA delivered an operating profit of €6.7m, up 43% year-on-year and representing a significant turnaround from the €-24m operating loss reported in 2021. Operating revenue was €191.7m, a 75% increase since FY2021.

This result builds on the FIA’s return to profitability delivered in FY2024, and reflects the continued financial transformation of the federation since the election of the President of the FIA, H.E. Mohammed Ben Sulayem, in 2021.

It is underpinned by a stronger commercial strategy, improved cost discipline, and clearer financial oversight across the organisation.

H.E. Mohammed Ben Sulayem, President of the FIA, said: “Six months into my second term as FIA President, I remain committed to ensuring a profitable and financially sustainable operation. Today, I am proud that we have continued to deliver on this mission, achieving the FIA’s strongest operating result in ten years and building on the significant progress made since 2021.

“Improving the governance, transparency and financial health of the FIA was central to my manifesto pledge, and we have transformed the organisation into a more resilient and professional federation.

“I will continue to work closely with all stakeholders to drive positive change across the FIA and deliver long-term value for our Member Clubs, our Championships, our people, and our global mobility and motor sport communities.”

The 2025 results were supported by strong performance across key FIA Championships and commercial activities. This included the advancement of a new promoter process for the FIA World Rally Championship with improved commercial terms, strong performance from the FIA World Endurance Championship, and the implementation of new regulations.

Additionally, the landmark long-term contract extension with the ABB FIA Formula E World Championship promoter, Formula E Holdings Limited generated an exceptional gain of €20m, reflecting the Championship’s continued growth.

The FIA Commercial Department, established in 2023, launched a new Global Partner Programme focused on innovative partnerships with global brands and tech partners, contributing to overall revenue growth. These include DHL, Rolex, Hankook and AlphaTauri as Global Partners, and Siemens and Tomorrow.io as Official Partners.

The FIA is in a much stronger position to deliver value for its Member Clubs across the world and continue investing in the Championships under its governance.

Since 2022, over €20m has been reinvested into key initiatives such as a new Officials Department to better support the training and development of the officiating community, and the Safe Mobility 4 All and 4 Life programme.

The federation has continued to modernise its operations, governance, and communications. It opened its first office in London in 2025, strengthening its global footprint and supporting its ability to attract talent and deliver its mission across international markets.

It increased its headcount to 308 permanent employees in 2025, a 14% increase on prior year. New initiatives such as FIA CareerShift and FIA Graduate Pathway Rotational Programme reflect further investment into professional development and career pathways.

Across sport, the FIA continued to strengthen the long-term foundations of its Championships and competition structures in 2025.

The signing of the Concorde Governance Agreement with Formula One Group established a structured governance model for the sport and helped secure its long-term future.

In mobility, the FIA continued to advocate globally for safer, more accessible and more sustainable transport, while sustainability also remained a central priority.

Through the FIA University, the federation published new research to support decision-making by Member Clubs, policymakers and industry stakeholders, while promoting professional development through programmes including the Advanced Leadership Programme and Executive Leadership Programme.

The FIA reported a strong financial position at year end, with cash and cash equivalents equal to 73% of the balance sheet, an increase of 6% year-on-year, an equity ratio of 49%, and no financial debt.

This financial position supports the FIA’s ability to continue investing in its Championships, its Member Clubs, its people and its strategic priorities across sport and mobility.

Indian Stock Market Remains Attractive for Long-Term Investors: Report

June 25: The Indian stock market continues to be one of the most attractive investment destinations for long-term investors, according to a recent market report. The report highlights India’s strong economic fundamentals, growing domestic consumption, increasing infrastructure investments, and supportive policy environment as key factors driving optimism in the equity market.

According to the report, India remains well-positioned to sustain its growth momentum despite ongoing global economic uncertainties. Strong corporate earnings, rising investor participation, and continued economic expansion are expected to support long-term value creation across various sectors of the market.

The report notes that India’s rapidly growing middle-class population, digital transformation initiatives, and focus on manufacturing and infrastructure development are creating significant opportunities for businesses and investors alike. These structural growth drivers are likely to strengthen corporate performance and contribute to the long-term growth of the capital markets.

Market experts believe that while short-term volatility may continue due to global and domestic factors, the overall outlook for Indian equities remains positive. Long-term investors who maintain a disciplined investment approach and focus on fundamentally strong companies are expected to benefit from the country’s growth trajectory.

The report also points out that increasing participation from both domestic and foreign investors reflects growing confidence in India’s economic prospects. Continued reforms, improved business conditions, and a stable investment environment are further enhancing the attractiveness of Indian equities.

As India continues its journey toward becoming a larger and more influential global economy, the stock market is expected to remain a key avenue for wealth creation and long-term investment growth.

Pegasystems Unveils Strategic India Investment with New Bengaluru Executive Briefing Center

Hyderabad, June 25: Pegasystems Inc.  the enterprise AI software company for mission-critical work, today inaugurated its new office at EcoWorld Tech Park, Bengaluru. The facility, built with an investment in excess of INR 60 crore, marks one of Pega’s most significant infrastructure expansions in India and underscores the company’s long‑term commitment to the country as a core hub for technology innovation, engineering excellence, and client engagement.

The inauguration ceremony was presided over by Shri Priyank M. Kharge, Hon’ble Minister for Home, Information Technology & Biotechnology and e-Governance, Government of Karnataka, as Chief Guest, alongside senior global and India leadership from Pega.

A World-Class Executive Briefing Center at The Heart of the Office

Central to the new facility is the Bengaluru Executive Briefing Center (EBC), a high-impact space designed to elevate how Pega collaborates with clients, partners, and prospects. The hub is designed to host executive‑level meetings, partner collaborations, immersive product demonstrations, solution showcases, roadmap and advisory sessions with senior decision‑makers, and curated Pega Days.

Built as a long-term investment in client engagement and innovation, the Bengaluru EBC reflects Pega’s commitment to bringing its most advanced capabilities, expertise, and thought leadership closer to customers in the region.

The new Bengaluru office further reinforces the city’s role as a strategic anchor within Pega’s global operations, serving as a center of engineering excellence and a key destination for client engagement and business development across Asia‑Pacific and beyond.

Scale and Capability Designed for Growth

The new office is 1.5 times the size of Pega’s previous Bengaluru facility, expanding the company’s footprint in the city by approximately 60%. It features 350+ seats, 35+ meeting and conference rooms, and connected floors designed to foster collaboration and productivity.

The workspace includes modern, technology‑enabled infrastructure such as advanced AV‑equipped meeting rooms, flexible seating zones, open collaboration areas, and dedicated recreational and wellness spaces, including a mother’s room.

Aligned with Pega’s global workplace standards, the facility is certified under LEED, WELL, and IGBC Platinum standards, prioritizing natural light, air quality, energy efficiency, and employee well‑being. Campus amenities include a food court, gym, daycare facilities, and strong public transport connectivity, with upcoming metro access.

Quotes & Commentary:

“Karnataka warmly welcomes Pegasystems’ expanded presence in Bengaluru,” said Shri Priyank KhargeHon’ble Minister for Home, Information Technology & Biotechnology and e-Governance, Government of Karnataka. “This investment is a strong endorsement of the state’s position as a global technology hub and reflects the confidence that leading enterprises place in Karnataka’s talent and ecosystem. We look forward to Pega’s continued role in driving innovation and high‑quality employment in our state.”

“Karnataka’s growth as a global technology hub is being shaped by a strong talent base, forward-looking policy, and institutions that help innovation move from idea to implementation,” said Dr. Manjula N, IAS, Secretary to Government, Department of Electronics, Information Technology, Biotechnology, and Science & Technology, and Chairperson of the BWSSB, Government of Karnataka. “Pegasystems’ investment in Bengaluru adds to this momentum by strengthening the city’s role as a center for advanced engineering, enterprise innovation, and strategic collaboration. Facilities like this create the kind of environment that supports deep technology growth, meaningful partnerships, and long-term value creation in Karnataka.”

“India is central to Pega’s global growth strategy, and this expansion reflects the confidence we have in the talent and capabilities here”, said Alan Trefler, founder and CEO, Pega.  “The new Bengaluru Executive Briefing Center is a significant addition, designed to offer our clients a premier destination to experience Pega’s innovation first‑hand and deepen the partnerships that are critical to our shared success.”

“This new office marks an important milestone for Pega India”, said Deepak Visweswaraiah, senior vice president and managing director, Pega India. “It enables us to deliver immersive, high‑value experiences for our clients right here in Bengaluru – from live demonstrations to strategic executive‑level conversations. Combined with a workspace that reflects our culture and ambition, this facility provides a strong foundation for our next phase of growth.”