BUSINESS
India, UAE to raise non-petroleum trade to $100 bn by 2030, agree to conduct trade in local currency
This was informed by Union Commerce Minister Piyush Goyal after his meeting with UAE's foreign trade minister Thani bin Ahmed Al Zeyoudi. The two countries are also discussing possibilities of conducting bilateral trade in local currencies under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), Goyal informed further.
Gold price rallying on hopes of a pause by US Fed
The latest data set has led to a belief that the US Fed will take a pause and hold interest rates at current levels. The treasury yields too have softened from the high levels seen in the month of March. While the Fed Chairman indirectly hinted at the possibility of a pause, the other Fed officials, quite a number of them, sounded like there is enough room for the Fed funds rate to rise even beyond the 6 per cent level, from the current range of 5 per cent -5.25 per cent.
George Soros hands over reins of $25bn empire to son
Alex, a 37-year-old who studied history at New York University and earned a PhD from the University of California, Berkeley, is the second-youngest of the 92-year-old Hungarian-born financier's five children, reports the BBC. Alex is the only family member sitting on the investment committee for Soros Fund Management, which according to The Wall Street Journal .
New highs wait seems getting longer
Markets saw the benchmark indices rise on two of the five trading sessions. They lost on two, and the fifth was a flattish day. At the end of it, BSESENSEX inched up 78.52 points or 0.13 per cent to close at 62,625.63 points while NIFTY gained 29.30 points or 0.16 per cent to close at 18,563.40 points.
BSE listed company Milestone Furniture announces sudden disappearance of CA
Milestone Furniture said this in the Board Meeting held on May 25, discussion was held on financial results. "The Chairman told the board that the existing Chartered Accountant named CA Bhupendra Gandhi got disappeared and is not answering the calls, so the financial statements are pending due to unavailability of.
As SEC-Coinbase fight begins, it'll be Grewal vs Grewal in the courthouse
Previously vice-president and deputy general counsel at Facebook, and former US magistrate judge for the US District Court for the Northern District of California, Paul Grewal is leading the charge against the US Securities and Exchange Commission (SEC) which sued Coinbase for securities law violations.
US securities watchdog declares all-out war against crypto, files 130 lawsuits
Binance.com, the world's largest crypto exchange, related entities and founder Changpeng Zhao were the target of the first lawsuit, which was filed on June 5. The next day, on the regulator's 89th birthday, the SEC filed its second suit, now against Coinbase, another large exchange.
SEC actions against crypto exchanges send out clear message: 'Buyers Beware'
An analysis of press releases from the U.S. Securities and Exchange Commission (SEC), and news reports on its actions, found that in the six months preceding FTX's collapse, the SEC undertook approximately six enforcement actions. In the six months after FTX's bankruptcy on November 11, 2022.
RBI averse to crypto but is all set to float CBDC; FinMin weighs options
RBI Governor Shaktikanta Das has, in fact, sought an outright ban on it, while making his views clear on it at several platforms in the last two years. Crypto should be banned, given its no underlying value in the market. Just like every asset, every financial product comes with some underlying value. hence the value of crypto is.
Let there be a law first, and then invest in a cryptocurrency
Most geographies in the world are still grappling with the legality around cryptocurrency and clarity on the same is yet to emerge. Just last week, The Securities and Exchange Commission (SEC) in the US has come down heavily on two exchanges -- Binance and Coinbase. In such a scenario, caution should be the buzzword.
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