COVID CASES
80% of demand for tokenised assets come from emerging markets, says Binance’s SB Seker
Tokenised assets are finding their strongest foothold in emerging markets, where high entry costs and limited access have long kept global investment products out of reach for ordinary investors. About 80% of demand for tokenised US equities and other instruments comes from emerging markets, according to SB Seker, head of Asia Pacific at Binance.
Tata Power says no provision needed for $650 million Kleros Award
Tata Power Company is currently not planning any financial provisions despite an adverse ruling from a Singapore court. The company believes they have a strong appeal against Kleros Capital Partners, who were awarded over $650 million. In the most recent quarter, Tata Power reported an all-time high consolidated net profit of ₹1,652 crore. Additionally, Tata Power's board has appointed Sanjay Banga as CEO-designate for the upcoming five years.
Joe Biden, in White House memoir, says Trump should carry the weight of Jan. 6 riots 'to his grave'
Joe Biden’s memoir sharply criticizes Donald Trump for his role in the January 6 Capitol insurrection. Biden argues that Trump's actions have significantly harmed American institutions and societal coherence. During his presidency, Biden faced multiple challenges including the COVID-19 pandemic and economic instability. He reflects on a unique meeting with Trump that raised concerns about Trump's approach to governance.
India's investment outlook strengthens as credit, exports rebound; inflation relief likely: HSBC
India's investment outlook is improving as credit growth and corporate revenue increase, pointing towards stronger private capital spending. The report from HSBC highlights that funds to the commercial sector have risen significantly compared to previous years. Additionally, rising services exports have helped maintain a steady current account deficit in the economy. However, challenges such as weak rural demand and inflation continue to impact households and corporate margins.
Just days before turning 13, teenager started a tomato business; now grows 7,000 plants and has customers as far as Australia
At 14, Jacob Mann has turned a childhood gardening interest into The Tomato Cart, a business that began with a homemade bicycle trailer and now grows up to 7,000 tomato plants a year. From selling seedlings at local markets to shipping merchandise to Australia, his journey began just days before his 13th birthday.
Wigmakers have bad hair days as Tirumala tresses get dyed
At Tirumala temple in Andhra Pradesh, the collection of natural black hair has significantly decreased in recent years. This decline is attributed to younger women increasingly coloring their hair instead of donating it. Despite the drop, the overall volume of hair donations remains substantial from temple visitors.
All is fair in books and coffee at Frankfurt, despite AI anxieties and geopolitical unease
The Frankfurter Buchmesse this year experienced a decline in trade visitors and exhibitors amidst ongoing geopolitical tensions. Many Ukrainian publishers suffered losses due to the war, reflecting the continuing impacts of the Russia-Ukraine conflict. The event also highlighted innovative contributions from global comic book publishers and creators from various countries. Notably, the theme of this year's fair underscored the growing influence of machine intelligence in publishing.
Cybercrime networks shift to smaller, mobile scam operations amid enforcement pressure: FATF
In its report released from Paris, the global money-laundering watchdog said large, fortified compounds where cyber slaves were forced to commit financial cybercrimes are being moved to apartments, houses, hotels and office floors, sometimes rebranding as legitimate outsourcing or marketing firms.
Cybercrime networks shift to smaller, mobile scam operations amid enforcement pressure: FATF
In its report released from Paris, the global money-laundering watchdog said large, fortified compounds where cyber slaves were forced to commit financial cybercrimes are being moved to apartments, houses, hotels and office floors, sometimes rebranding as legitimate outsourcing or marketing firms.
Why did market rally today? Sensex ends 1,718 pts higher, Nifty reclaims 25,000 as D-Street concludes bumper week. 4 factors behind today’s gains
In a surprising turn of events on Friday, both Sensex and Nifty soared by more than 2%, contrasting with the downturn seen in global markets. This upward movement was sparked by a historic influx of share purchases by foreign investors, emphasizing their belief in India's financial potential. Mahindra & Mahindra shone bright with robust earnings information, though broader markets faced challenges.
Who is Harmeet Dhillon? Trump-appointed civil rights chief resigns after Republican midterm losses
Harmeet Dhillon, previously serving as Assistant Attorney General, has stepped down following the Republican Party's setbacks in the midterm elections. A well-known civil rights attorney appointed by Trump at the DOJ, Dhillon's resignation marks the first departure among senior DOJ personnel after Democrats' victories. With a strong focus on civil liberties and free speech, her exit hints at potential shifts among political appointees during this transitional phase.
Who is Marisela Nuno? California woman, 53, charged with wire fraud and money laundering in $18 million COVID relief case
In a startling development, Marisela Nuno of Los Angeles has been indicted for allegedly frauding federal programs out of $18 million. She purportedly submitted misleading information across various applications aimed at pandemic relief. Currently facing three wire fraud charges and one related to money laundering, Nuno risks a lengthy prison term if convicted. The investigation into her actions underscores the serious issue of pandemic relief fund exploitation.
Mahadev case: Chandrakar's custody needed to identify officials who got 'protection money', says CBI
Saurabh Chandrakar, accused of masterminding the Mahadev betting app scam, was extradited from Oman for interrogation. The Central Bureau of Investigation is seeking information on Chhattisgarh public servants allegedly involved in corruption. Reports claim that huge amounts of protection money were paid to facilitate illegal operations of the betting syndicate. Investigations have revealed a substantial financial network utilising fake bank accounts for gambling transactions.
ETMarkets Smart Talk| FDs, G-Secs or debt funds? UTI AMC's Anurag Mittal explains what works in a rising-rate cycle
In this edition of ETMarkets Smart Talk, Anurag Mittal, President & Head–Fixed Income at UTI AMC, shares his views on the changing dynamics in India’s bond market, the outlook for interest rates and bond yields, and how investors can position their fixed-income portfolios in a rising-rate cycle.
IKF Finance sets Rs 25,000 crore AUM target for 2030
The company has broadened its financial services beyond vehicle loans, which opens up new avenues for growth. With a seasoned leadership team at the helm, IKF prioritizes good governance and credit discipline.
How Jeff Bezos’ $5 million grant helped 6,000 homeless families find a safe home including a five-year-old daughter and her struggling mother
Mary's Place, a nonprofit located in Seattle, plays a crucial role in helping homeless families by providing emergency shelter and housing support. Following a generous $5 million grant received in 2020, the organization has aided thousands in securing stable homes. The ongoing demand, exacerbated by the COVID-19 pandemic, led Mary’s Place to broaden its services, including a new pilot program aimed at families with complex needs.
Govt set to tweak MSP norms for periodic price hikes of minor forest products
The Centre is planning to restructure the minimum support price mechanism for minor forest produce. This change aims to provide periodic hikes to benefit tribal communities relying on forest produce. TERI has been tasked to study the current MSP framework and assess potential rationalization. Concerns regarding stagnant MSP rates sparking exploitation among forest-dependent communities have been raised in parliamentary discussions.
Private equity companies add AI-disruption clauses to buyout loan agreements
Private equity firms are adding AI disruption clauses to buyout loan agreements, allowing companies to delay default consequences if artificial intelligence impacts their business, triggering lender concerns.
Ex-IAS officer, who ventured into filmmaking, gets bail in cheque-bounce case
Former IAS officer and filmmaker Ramesh S Thete has been granted bail concerning a cheque-bounce matter. After his arrest in Nagpur, he sought release via personal bond in court. The case was initiated by Pradeep Ramteke after Thete's cheque was returned due to lack of funds.
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