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Euro switch: Bulgaria joins the euro nearly two decades after EU entry; cheers mix with fears over prices

Bulgaria on Thursday adopted the euro as its official currency, becoming the 21st country to join the eurozone, a long-anticipated milestone that comes almost 20 years after the Balkan nation entered the European Union, but one that has exposed deep political and public divisions.At midnight, Bulgaria formally gave up the lev, which had been in…

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Momentum to sustain, GDP may grow 7.4% in FY27: CEA Nageswaran

NEW DELHI: Chief economic adviser V Anantha Nageswaran Friday raised the growth forecast for the next financial year to 7-7.4% as against 6.8-7.2% projected in last month’s Economic Survey, banking on improved policy certainty due to trade agreements and an improvement in capital flows, along with high-frequency data pointing to sustained momentum in consumption and…

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IPO rules revamp: Mutual funds barred from pre-IPO buys, anchor route open; Sebi pushes transparency, wider participation

Sebi has barred mutual fund schemes from investing in pre-IPO share placements but will allow participation in anchor rounds of public issues, a source told PTI citing the move is intended to improve liquidity and ensure clearer valuation of companies ahead of listing.“We have asked mutual fund schemes not to invest in pre-IPO placement of…

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‘Openly protecting rapists’: PM Modi slams TMC over RG Kar and Sandeshkhali cases | India News

NEW DELHI: Prime Minister Narendra Modi on Saturday launched a sharp attack on the ruling All India Trinamool Congress (TMC) while addressing a mega rally at Kolkata’s Brigade Parade Ground, accusing the state government of “protecting rapists”, undermining constitutional institutions and insulting President Droupadi Murmu.Bringing up Sandeshkhali and the brutality faced by a woman at…

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Circle shifts $68 million in internal payments via its own stablecoin to bypass legacy banks

Circle has begun using its own stablecoin infrastructure to move money between internal entities, settling $68 million in transfers using USDC, CEO Jeremy Allaire said Saturday. The transactions were executed through Circle Mint, the company’s platform for minting and redeeming USDC. The firm’s treasury team used the system to carry out intercompany transfer pricing —…

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J&K students association says another Kashmiri shawl seller assaulted | India News

SRINAGAR: J&K Students Association (JKSA) has expressed outrage after a fresh incident in which a Kashmiri shawl seller was allegedly assaulted in Himachal Pradesh, leaving him with fractures and multiple injuries.Jehangir Ahmad, who has been selling shawls in Dehra area of Kangra district for 15 years, was allegedly thrashed, threatened, abused and told to leave…

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The $300 billion digital dollar boom could eat into traditional banks’ profits, warn Jefferies analysts

There is a war going on between crypto firms and traditional banks over stablecoins, and Jefferies analysts said that they could become a steady drag on bank earnings as digital dollar use spreads. While stablecoins aren’t going to be an immediate existential threat to banks and aren’t likely to trigger a sudden run on U.S….

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16th Finance Commission retains 41% tax share for states; pushes output-linked spending and fiscal discipline

Finance Commission submits report to President Murmu (Photo credit- PTI ) The 16th Finance Commission has recommended retaining states’ share in the divisible pool of central taxes at 41 per cent, while pitching for outcome-based spending, greater transparency in tax devolution data and stronger fiscal discipline at the state level. The panel said there is…

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