BUSINESS
Over $30 bn wiped off the value of Russian stocks this week
Moscow's MOEX stock index dropped 1.5 per cent after shedding more than 10 per cent on Monday, bringing losses so far this year to about 20 per cent. Shares in Russian oil company Rosneft were hardest hit on Tuesday, dropping 7.5 per cent. In total, more than $30 billion has been wiped off the value of Russian stocks this week alone, the report said.
Musk accuses SEC of leaking information from federal probe
In a letter on Monday to US District Judge Alison Nathan, Musk's attorney Alex Spiro wrote that "it has become clearer and clearer that the Commission is out to retaliate against my clients for exercising their First Amendment rights -- most recently by criticising the Commission on the public docket and by petitioning this Court for relief", reports CNBC.
Russia will have to tackle surging prices amid falling ruble as uncertainty rises in region
The current inflation rate is almost double of the 4 per cent inflation target set by the Central Bank of Russia (CBR) despite aggressive monetary tightening. But as Russian President Vladimir Putin on Monday announced recognition of two separatist ruled regions in Ukraine as independent states, uncertainty for the common citizens has risen even more with the West already threatening to impose sanctions.
US likely to regulate cryptocurrency this week: Report
As per a memorandum by the US National Security Council (NSC) memorandum, government agencies, include the Departments of the Treasury, State, Justice, and Homeland Security, will be asked to assess the risks and opportunities that crypto poses, and delve into the details of a central bank digital currency, Bloomberg news cited an administration official as saying last month.
MediBuddy raises $125 mn in series C funding
It is the largest funding round in the digital healthcare services space, so far. With the new round of funding, the comprehensive healthcare platform will further invest in customer awareness, hiring, strengthening technology platforms including data science capabilities, clinical research, and product development.
62% financial services leaders expect Cloud to boost sales: Report
Nearly 62 per cent of financial services leaders expect their Cloud investments to increase revenue over the next two years, a new Capco-Wipro report said on Tuesday. Financial services leaders cite increased future revenues (62 per cent) and improved future profitability (52 per cent) as leading reasons to deploy cloud technologies, according to a new financial services study by Capco, a Wipro company.
Indian stocks plunge on geo-politics, realty shares down
Besides, high crude oil prices along with subdued global indices added weight to the downtrend. On Monday, Russian President Vladimir Putin ordered the deployment of troops into two separatist areas within Ukraine, after recognising their independence, a move that some fear puts Kyiv and Moscow one step closer to a military conflict.
War Premia: Geo-political tensions boil crude Oil prices
Accordingly, the Brent-indexed crude oil prices crossed $95 per barrel, the highest in several years. Crude oil prices inclined to a multi-year high level as Russian President Vladimir Putin ordered the deployment of troops into two separatist areas within Ukraine. On Monday, Russia recognised the two separatist regions' independence, a move that some fear puts Ukraine and Russia one step closer to a military conflict.
Goldman Sachs says Paytm's current share price is a compelling entry point, ICICI Securities issue Buy rating
Analysts believe Paytm's ESOP costs will gradually reduce and are currently at par with other listed tech cos in India as well as globally ICICI Securities report said that by FY26, Paytm's monthly transacting users are likely to double. Paytm, India's leading digital payments and financial services, continues to get 'Buy' calls from top brokerages.
Investors unnerved by lack of transparency in LPG pricing, under recoveries of OMCs
Rising LPG prices along with the ongoing elections in key states have tested the resolve of the government and the Oil Marketing Companies (IOCL, BPCL and HPCL), Motilal Oswal Institutional Equities said in a note. While prices of auto fuels have not been changed since early November'21, price of subsidized LPG cylinder has also been retained since November'21.
Don't Miss
Advertisement