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US SEC sues Elon Musk over late disclosure of Twitter stake
Elon Musk In a complaint filed in Washington, D.C. federal court,...
China discusses sale of TikTok US to Musk as one possible option
Under one scenario that’s been discussed by the Chinese government,...
Global banks unwind India currency trades worth billions after RBI warning
Some lenders had racked up exposures of more than $1 billion each by using a regulatory loophole created in February to convert rupee deposits into dollars using a buy-sell swap — buying the greenback now while selling the same amount at a specified date in the future. They then used the proceeds to purchase U.S. government debt and profited from the arbitrage, paying around 3.5% on the local currency deposits and earning 4.9% on the 12-month yield on the currency pair.
Will take all measures to eliminate use of crypto-assets: Govt
In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary also said the government will explore the use of block chain technology proactively for ushering in digital economy.
”The government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system,” he said.
Will RBI joining NGFS help in climate finance?
The 22nd Financial Stability Report (FSR22) of the RBI had, about the “climate-related risk” that the value of financial assets/liabilities could be affected either by continuation in climate change (physical risks), or by an adjustment towards a low-carbon economy (transition risks). The manifestation of physical risks could lead to a sharp fall in asset prices and increase in uncertainty, it said.
Digital currency model likely by the end of year: RBI
Earlier, RBI Governor Shaktikanta Das made it clear that the central bank continues to have concerns with the private digital currency (DCs) which are not regulated and has conveyed the same to the government
RBI keeps policy rate unchanged,raises inflation forecast
“The need of the hour is not to drop our guard and to remain vigilant against any possibility of a third wave especially in the background of rising infections in certain parts of the country,” RBI Governor Shaktikanta Das said in a virtual address accompanying the MPC’s decision.
Sebi board agrees in principle to ‘controlling shareholders’ concept
The board noted that the investor landscape is now changing, with private equity and institutional investors holding significant shareholding in listed companies. ”In recent years, a number of businesses and new-age companies with diversified shareholding and professional management that are coming into the listed space are non-family owned and/or do not have a distinctly identifiable promoter group,” the board said.
Willis Towers mulls sale of reinsurance unit after halting merger
Reports this week suggested Gallagher was close to clinching a deal for Willis Re, but Willis Towers Watson Chief Executive Officer John Haley said he is considering wider possibilities.
“We’re conducting a review of strategic alternatives for Willis Re,” Haley told a conference call on Tuesday reporting on second-quarter results. While the timing was “appropriate” given the failed merger, he warned that a sale was not assured.
Rajya Sabha passes Limited Liability Partnership Amendment Bill to encourage startups
The bill, which was passed after a short debate, seeks to decriminalise 12 offences under the law and help to improve the ease of doing business by amending the Limited Liability Partnership (LLP) Act, 2008.
Pvt hospitals, labs welcome Delhi govt’s announcement on capping of rate of RT-PCR and RATs
Welcoming the decision Dr Bhagwan Mantri, Senior Consultant, Respiratory and Chest Medicine at Moolchand Hospital said, ”RT-PCR tests are required for everything these days – for travel purposes and for hospital admissions. Capping of prices will help people in going for tests and they will not be hesitant. It will also prevent people from going in for fake test reports that are available for Rs 200-300.”
Financial regulators urgently need to get a grip on ‘Big Tech’: BIS
Global watchdogs are increasingly wary that the huge amounts of data controlled by groups such as Facebook, Google, Amazon and Alibaba could allow them to reshape finance so rapidly that it destabilises entire banking systems.