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NEW DELHI: ED has come across a case where the prime targets of a scam were Muslims following sharia law, which prohibits earning interest on investments. The perpetrators targeted unsuspecting persons with a promise of profits of up to 36% per annum on their investment, and within a few years collected over Rs 6,000 crore.The…
MUMBAI: Reserve Bank of India has opened the dollar tap by taking on the currency risk itself to draw in overseas money, while nudging state-owned borrowers to look abroad for cheaper funds.RBI will not charge any premium for swapping dollars raised through foreign currency non-resident bank FCNR(B) deposits, effectively absorbing the entire forex risk and…
Bitcoin BTC$71,091.27 is now approximately 20% below its estimated average production cost, increasing financial pressure across the BTC mining sector. The average cost to mine one bitcoin is around $87,000, according to data from Checkonchain, while the spot price has fallen towards $70,000. Historically, trading below production cost has been a feature of a bear…
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U.S. employment data for December was mixed, while inflation expectations edged higher, and the U.S. Supreme Court did not deliver a ruling on the Trump Administration’s tariffs. Source link
Capital markets regulator Sebi will examine whether disclosure requirements for debt-only listed entities need to be relaxed as part of broader efforts to deepen India’s corporate bond market, Chairman Tuhin Kanta Pandey said on Tuesday, PTI reported.Speaking at an event organised by CareEdge Ratings in Mumbai, Pandey said the regulator would also launch a pilot…
Kolkata: Supreme Court-mandated appellate tribunals hearing voter deletions during EC’s SIR of electoral rolls in West Bengal restored voting rights of 1,468 people before Wednesday’s second phase of polls, taking total reinstatements across two rounds in the state to 1,607, officials said on Tuesday.Deletions in second phase stood at six, pushing cumulative removals by tribunals…
Sovereign wealth funds were buying the dip in bitcoin BTC$91,392.19, according to BlackRock CEO Larry Fink. “We’re seeing more and more legitimate, long-holding investors investing in it,” Fink said Wednesday at the New York Times DealBook Summit in New York. “I can tell you there are a number of sovereign funds […] they are adding…
