BUSINESS
UK watchdog bans cryptocurrency exchange Binance
The watchdog didn't say just why it blocked Binance but noted that an "imposition of requirements" kept Binance from operating. Binance has until June 30 to confirm that it's honoring the FCA's demands, citing Financial Times, Engadget reported.
Fuel price rise paused on Monday after rising for 2 days
Accordingly, the price of petrol remains at Rs 98.46 a litre and diesel at Rs 88.90 a litre in the national capital. Similarly, the price of the fuel in the other key metros also held Sunday's price line but not before reaching new historic high levels. Petrol is most expensive in Rajasthan's Sri Ganganagar where it now retailing at Rs 109.67 per litre. Even diesel in the city is priced at a high of Rs 102.12 a litre.
Sensex reverses gains after touching fresh high
The Nifty50 on the National Stock Exchange also hit a fresh all-time high of 15,915.65 points. Healthy buying was witnessed in metal stocks while IT stocks slumped. Around 10.25 a.m., Nifty was trading at 15,858.00, lower by just 2.35 points or 0.01 per cent from its previous close.
SIDBI ties up with GAME to help MSMEs revive
The broad themes covered under the MoU include expanding credit access, increasing formalisation, building competitive clusters, and improving the legal framework for ease of doing business. The two organisations committed that at least 25 per cent of beneficiaries from the partnership would be women entrepreneurs.
Cairn sets eyes on more state-owned assets to recover dues from Indian govt
According to people in the know, the British energy major may file lawsuits across several countries to make government firms and banks liable to pay the dues. Cairn Energy already moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes.
Adani Ports aims 40% market share by 2025
With 247 million tonne of cargo throughput in 2020-21, the company enjoys a 25 per cent market share of India's exim cargo. "We intend to enhance our country coverage beyond 90 per cent, increasing market share from an existing 25 per cent at the close of 2020-21 to a projected 40 per cent by 2025," said Adani Ports' CEO Karan Adani in his message to the shareholders in the company's annual report.
Deepak Parekh says life insurers should be allowed to evolve further
In his statement to the shareholders in HDFC Life's Annual Report, Parekh cited examples in Asia and more developed markets where life insurers have created subsidiaries and orchestrated ecosystems to make insurance a more holistic offering for the customer. "While we continue to invest to enhance our technological capabilities" he said.
'Fake news': Finance Ministry on reported resumption of DA/DR from July
Citing a picture of an "office memorandum" which has been doing the rounds on social media and confirmed the resumption of DA and DR from next month, the Finance Ministry tweeted: "A document is doing rounds on social media claiming resumption of DA to Central Government employees & Dearness Relief to Central Government pensioners from July 2021. This OM is #FAKE. No such OM has been issued by GOI."
Foreign e-commerce companies violated Indian laws: Piyush Goyal
"Unfortunately, many of these large e-commerce companies have come into India and very blatantly violated the laws of the land, in more ways than one," Goyal said at an event by the Stanford India Policy and Economics Club. Goyal charged the American e-commerce companies with arrogance and using capital to the detriment of small shopkeepers in India.
India's gold imports rose in May, while silver imports decline
Further, for the April-May period of FY22, import of the yellow metal stood at $6.91 billion, against $79.14 million worth of gold during the same period of last fiscal. Although the import of gold has recovered with improving demand, silver imports, on the other hand, have depleted. Silver worth $15.66 million was imported last month, 95.3 per cent lower on a year-on-year basis.
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