GSR, a global crypto trading firm and liquidity provider, has secured an in-principle approval from MAS for a Major Payment Institution license. This allows GSR to deepen its roots and use its hub for investing and encouraging the adoption of web3 technology. Coinbase was also granted a full license from the same regulator, setting a precedent for GSR and other digital asset firms.
Open FlipRajiv Kumar, the former NITI Aayog Vice Chairman, projects India's GDP growth to reach 6.5% in current fiscal despite 11% decline in exports between April-August compared to previous year, as government reforms are improving country's external and domestic macroeconomic balance. Inflation is coming down and FDI flows continue to remain strong.
Open FlipCoal India Ltd (CIL) supplied 294.8 million tonnes of coal to the power sector in the first six months of the current fiscal, an increase of 3.4% from last year. Total supplies shot up by 28.7 MT from last year and CIL expects to meet its 610 MT target for FY24. Furthermore, coal supply to the non-power sector rose 40% to 65.7 MT and production in September was 51.4 MT.
Open FlipEthereum co-founder Vitalik Buterin has discussed the possibility of integrating more features into the protocol, while maintaining the core simplicity and fostering decentralized user empowerment that the project is known for. The benefits of enshrining features directly into the core protocol include standardized solutions, user flexibility and experience enhancements.
Open FlipTata Motors reported a 2% rise in total domestic vehicle sales last month. Passenger vehicle sales were down 6%, however, Electric Vehicle sales had an impressive 57% growth. Q2 FY24 extended the innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been well received. Total commercial vehicles sales were 12% higher than previous year.
Open FlipMaharashtra-based Saraswati Saree Depot has filed to raise funds via an IPO, with a fresh issue of equity shares and an OFS by the promoter group. They plan to use the proceeds for working capital & general corporate purposes. 90% of business is driven by sarees, with over 15,000 customers & >300K SKUs.
Open FlipKuCoin, one of the leading crypto exchanges, recently released an asset reserve certificate for Sept. 29 showing a decrease in user assets across Bitcoin, Ethereum and Tether. The market's overall volatility, regulations, and DeFi platforms could be causing investors to move assets to safer havens or taking advantage of higher returns on other platforms.
Open FlipIn an unexpected twist, a prominent analyst Benjamin Cowen has revised his earlier prediction that Bitcoin (BTC) would plummet to $23,000 by the end of September. As of Oct. 1, Bitcoin is trading at approximately $27,123, defying Cowen's bearish forecast. Cowen, who is generally bullish on Bitcoin, had predicted a significant drop in the cryptocurrency's value.
Open FlipAccording to TokenUnlocks, a series of large-amount unlocks are slated for October, involving tokens like SUI, IMX, APT, APE, AXS and OP. The total unlock value for these tokens is estimated to exceed $174 million, a significant amount that could potentially impact the market dynamics of these assets.APT is currently trading at $5.49, APT has been showing moderate volatility.
Open FlipRipple has unlocked 1 billion XRP from escrow at the start of October. This happens every month and allows for there to be new tokens injected into the circulating supply, with the remainder locked in escrow. Additionally, 75 million XRP was transferred by Ripple in one of the biggest whale transactions seen in the past 12 hours.
Open FlipSolana is making waves as it shows signs of a potential breakout against its direct competitor, Ethereum. According to the latest price analysis, one SOL is currently trading at approximately 0.01281 ETH. This is a crucial moment for traders and investors who are closely watching the SOL/ETH trading pair.The significance of this potential breakout is twofold.
Open FlipHindustan Zinc Ltd (HZL) reported a 1% drop in tined metal production to 252Kt in the 2nd quarter of FY2020-21 as lower ore production at Rampura Agucha & Kayad mine offset higher metal grades. Refined metal output dropped 2% and integrated zinc production dropped by 12%. In contrast, wind power generation for the same period increased by 27%.
Open FlipEquity benchmark indices closed Friday's volatile session in the green and across sectors, buying was seen except IT stocks. Analysts suggest that 19492 level is a short-term bottom while 19780-19840 is an immediate hurdle zone. US stock market closed positively driven by lower inflation data. European shares up on dropping euro-zone inflation.
Open FlipLast month's new orders index rose slightly to 39.2 from August's 39.0, however it remained well below the necessary threshold to indicate positive overall economic activity. This suggests that the global economy still has a long road to recovery.
Open FlipCharlie Munger is the Vice Chairman of Berkshire Hathaway and long-time partner to Warren Buffett. He is known for his no-nonsense approach to finance, life, and more. Here we explore 21 of his most inspiring quotes, from how to succeed in business and investing, to the importance of health and more. His wisdom continues to shape minds and add to his legacy.
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