BUSINESS
Ukraine legalises cryptocurrency to fight Russian invasion
Ukraine President Volodymyr Zelensky has signed the law that creates conditions for further formation of the legal field in the market of virtual assets. The new market will be regulated by the National Commission on Securities and Stock Market. The signed law determines the legal status, classification and virtual assets ownership rights and determines the list of providers of virtual assets and conditions of their registration.
Financiers worry about 515 airplanes leased to Russian airlines
On Monday, Russian President Vladimir Putin approved a law switching the jets over to the Russian airplane registry, making their return very difficult, Politico reported. In doing so, Russia is breaching the Chicago Convention, the international rules that underpin civil aviation, according to European Transport Commissioner Adina Valean.
IMF not asking for removal of central bank Guv: SL
Addressing the nation on Wednesday evening, President Gotabaya Rajapaksa said that he has decided to work with the IMF to overcome Sri Lanka's economic woes, reports Xinhua news agency. Following the speech, local media reported that one of the IMF conditions to work with Sri Lanka was the removal of the central bank governor, who had repeatedly said that the government would not go to the global lender.
Keeping early gains intact, indices close session on high
A policy rate hike of 25 basis points by the US Fed at its latest meeting and signs of some progress in talks between Russia and Ukraine supported investors' sentiment across the board on Wednesday. Sensex closed 1.8 per cent or 1,047 points higher at 57,864 points, whereas Nifty 1.8 per cent or 312 points higher at 17,287 points.
In a first, Indian cargo exported to Uzbekistan via Pakistan
According to details, at least 140 tonnes of cargo, mostly Indian sugar, crossed over into Pakistan and travelled to Afghanistan through the Torkham border. The shipment was sent ahead towards Uzbekistan's capital Tashkent on Wednesday. Maulana Zaheer, the spokesperson of Afghanistan's Ministry of Industry and Commerce, said that a special ceremony was organised to facilitate the transit of Indian goods in Kabul.
European consumer electronics firm Thomson eyes 10% market share in India
European consumer electronics firm Thomson on Thursday announced a range of air conditioners in India with an aim to capture 10 per cent market share. With the launch of its four models in the Cool Pro Max Aseries, Thomson ACs will be available in fixed-speed and inverter segments, with the capacity of 1 tonne and 1.5-tonne each. Available on Flipkart, starting March 22, Thomson ACs will be up for grabs at an introductory offer prices starting Rs 26,490.
At USD 49 billion, Gautam Adani added more wealth than Elon Musk, Jeff Bezos in 2021: Report
This net addition to his wealth is more than what top billionaires Elon Musk, Jeff Bezos and Bernard Arnault added, as per the 2022 M3M Harun Global Rich List released on Wednesday. “Gautam Adani, 59, is the biggest gainer in the M3M Hurun Global List 2022 and added USD 49 billion to his wealth last year… (this addition is) more than top three global billionaires such as Elon Musk, Jeff Bezos and Bernard Arnault,” the list said.
Irish consumer watchdog fines Meta $18.6 mn for 12 data breaches
Ireland's Data Protection Commission (DPC) has fined Meta, Facebook's parent company, 17 million euros ($18.6 million) for several data breaches that affected up to 30 million users. The decision followed an inquiry by the DPC into a series of 12 data breach notifications it received in the six-month period between June 7, 2018 and December 4, 2018. As a result of its inquiry, the DPC found that Meta Platforms infringed Europe's General Data Protection Regulation (GDPR).
Indian fintech payment firms have no data advantage over banks: Moody's
According to Moody's Investors Service, the introduction of the Unified Payment Interface (UPI) in 2017, which allows funds to be transferred instantaneously, has been a key catalyst to the development of digital payments due to the ease of use of apps running on the system.
Indices extend gains on global cues; Sensex up nearly 1,000 pts
Policy rate hike of 25 basis points by the US Fed at its latest meeting and signs of some progress in talks between Russia and Ukraine supported investors' sentiment globally."The economy is very strong, and against the backdrop of an extremely tight labor market and high inflation, the Committee anticipates that ongoing increases in the target range for the federal funds rate will be appropriate," Fed Chairman Jerome Powell told reporters after the policy meeting on Wednesday.
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