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LONDON (Reuters) - Bitcoin fell as much as 7 percent on Friday, heading towards a recent one-year low in a broad-based selloff in cryptocurrencies. from Markets https://ift.tt/2Q57NPZ
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Showing posts from November, 2018
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Taiwan-based electronics major ASUS on Friday said it entered into a partnership with Quantumcloud, a start-up with a software solution that allows gamers to use their idle graphics cards to mine cryptocurrency and receive a digital cash payout through PayPal or WeChat. from Markets https://ift.tt/2Q4CTHn
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The rupee recovered by 8 paise to close at 70.79 against the US dollar Tuesday on increased selling of the greenback by exporters and softening crude oil prices. Forex traders said the rupee's rise was supported by dollar-selling by exporters and banks after the Chinese foreign ministry announced a mutually beneficiary agreement with the US. At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 70.91 and lost further ground to hit a low of 71.02 on a stronger dollar, strengthening US yields and worries about escalation in US-China trade war. The local unit, however, pared the initial losses and finally settled the day on a higher note at 70.79 to the US dollar, up 8 paise. "The rupee recovered sharply from the day's low in the second half after Chinese Foreign Ministry spoke of mutual beneficiary agreement between US President Donald Trump and his Chinese counterpart," V K Sharma, Head PCG & Capital Markets Group, HDFC Securities, explained. ...
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India-focused funds based abroad are reshuffling their portfolios to deal with uncertainties that have crept up in recent months. Franklin Templeton Investment (Franklin India MF) reduced its exposure by $830 million (Rs 58.6 billion) in the September quarter. Aberdeen Global (Indian Equity Fund MF) pruned its exposure by $130 mn (Rs 9.1 bn) in October. While the extent to which this cut was related to price fluctuations couldn't be ascertained, Bloomberg data shows Franklin India MF had reduced its shares' position in 19 of the 42 companies in its portfolio. It only increased its stake in six entities; its shareholding was unchanged in 16 others. Notably, it completely exited its position in five companies, including Axis Bank, State Bank of India and HCL Technologies. In the case of Aberdeen Global Indian Equity Fund, the stakes were raised in four companies, while the shareholding was cut in 11 others. In the remaining 19, the share position was left unchanged.In its fund .....
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After Asia's oldest bourse BSE announced snapping of ties with S&P Dow Jones Indices (DJI), the latter said on Wednesday that it is looking at ways of expanding activity and seeking "strategic opportunities" in the country. "India continues to be an important part of S&P DJIs global growth strategy and we will continue to find ways to expand commercial activities in the country, look for strategic opportunities," an official statement said. The company will seek "strategic partners fully committed to providing Indian and global investors with the index-based solutions they need to take part in Indias exciting growth story," it said. It also affirmed commitment to minimise the troubles for the domestic and international client base as it unwinds the current relationship with BSE. The company said it has been working in the country since 1999 through various partnerships. It also listed out milestones since it started working with BSE, including ...
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The value of bitcoin slipped Monday below USD 5,000 for the first time since October 2017 as volatility returned to the cryptocurrency market. Data compiled by Bloomberg showed the world's most popular virtual currency losing about 10 per cent of its value from Friday evening to stand at USD 4,958.36 at 1635 GMT. It rebounded slightly to trade at USD 5,065 at 1710 GMT. The rout on the crypto market began on Wednesday and also affected widely traded currencies such as Ethereum and Ripple. Bitcoin opened trading on Wednesday at USD 6,326 and has since seen its market capitalisation fall to less than USD 100 million for the first time in over a year. The still-nascent market is not completely transparent and analysts have struggled to understand what prompted the latest selloff. Bitcoin's all-time high of USD 19,511 was recorded last year on December 18, 2017. from Markets https://ift.tt/2A3Hijd
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Asia's oldest bourse BSE has decided to snap ties with S&P Dow Jones, which manages and operates benchmark Sensex, and plans to develop indices through its own in-house development team, exchange's officials said. The two entities had announced a joint venture -- Asia Index -- in 2013 to provide an array of indices enabling global and domestic investors to participate in South Asia's vibrant economies. The deal with BSE came after the expiry of the licensing arrangement between India Index Services & Products (IISL), a joint venture of NSE and S&P-owned Crisil. The exchange officials said that BSE will not renew its agreement with S&P Dow Jones Indices LLC which expires on December 31, 2018 and it is looking to develop indices through its own team. "Basically, we had done this tie-up five years back, but the joint venture could not do much in terms of expanding in the foreign jurisdiction, the usage of the indexes and all," BSE Managing Director an...
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Agricultual input companies have posted decent growth in revenue and net profit for the quarter ended September, with sales rising on normal monsoon rain and price hikes.PI Industries, for example, reported a 29 per cent jump in revenue at Rs 7.2 billion from the same period last year. Net profit grew 17.5 per cent to Rs 944 million. Rallis India posted 11 per cent growth in the quarter's revenue at Rs 6.5 bn and a 10 per cent jump in net profit to Rs 852 mn. While companies have been able to pass on their raw material price hikes to consumers, the lag time of four to six weeks in absorbing the hike did marginally affect their profit margin. They aim to achieve the full benefit of the price hikes in the December quarter."Performance across the business segment remained good despite the erratic southwest monsoon this kharif season. Though classified as normal, at a deficit of 9.4 per cent against the Long Period Average, only 68 per cent of areas received normal rainfall. Our c...
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Despite a miss on margins for the Titan Company in the September quarter, investors are not complaining. The jewellery retailer had declared its results for the quarter after market hours on Friday; on Monday, its share price jumped a little over five per cent. Pushed by robust revenue growth in that quarter and, more importantly, a strong outlook for the second half of the current financial year.The reason the Street is not too worried about its lower profit is the strong performance on sales, in an environment where a number of other consumer goods companies are struggling to drive volumes. In the September quarter, Titan's jewellery segment (80 per cent of its revenue) grew 28.5 per cent (wholesale) over the year-ago period. At the retail level, the company indicated, growth was even stronger at 38 per cent. Sharp outperformance, as other larger jewellery retailers are expected to have grown at about 15 per cent. The higher growth in jewellery was on account of continued momentu...
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In a fresh crackdown on unauthorised money pooling schemes, the Sebi has barred Pragya Dairies & Agro and Vayaa Builder and Developers as well as their directors from raising funds from public and from launching any new investment plans. The directions come after the regulator received complaints against these companies. The Sebi, prima facie, found that Pragya Dairies mobilised about Rs 13 crore from public through its schemes pertaining to cattle/ghee and Vayaa Builder (formerly known as Veenayaka H&H Property Makers) collected a little over Rs 4 crore from investors through different land/plot allotment scheme under the garb of a real estate business. The companies were carrying on these collective investment schemes (CIS) without obtaining registration from the Securities and Exchange Board of India (Sebi), the regulator said in separate orders dated November 9. Consequently, Sebi has directed Pragya Dairies and its directors or promoters -- Punam Chand Patidar, Nana Lal .....
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The Sebi has shortlisted seven firms, including Wipro and L&T Infotech, to build a private data storage cloud, automate its inspection of brokers and enhance analytics capabilities, as the regulator is eyeing a technological leap in surveillance and investigation functions. Other firms on the shortlist are Accenture Solutions Capgemini Technology Services India, Hewlett Packard Enterprise (India), EIT Services India and Tharavu Technologies. "Bidders have been shortlisted for further process," the Securities and Exchange Board of India (Sebi) said. The Sebi, in August, had invited expression of interests (EoIs) from companies for enhancement of analytical capabilities and setting up of private cloud to provide infrastructure, storage and computing capacity to different upcoming projects. Besides, the regulator is looking to put in place new and advanced software tools to help in its monitoring of mutual funds and for sharing of information with other regulators. The priva...
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A Swedish man was convicted of attempted murder Friday for sending a letter bomb to a bitcoin company in London and also convicted of sending threatening letters to lawmakers in Sweden, including government members. The Stockholm District Court sentenced Michael Salonen, 43, to seven years in prison. The court said Salonen mailed a package containing two pipe bomb-like devices in August 2017 to London-based bitcoin company Cryptopay, addressed to two employees. It was sent care of an accounting firm, where it was opened, but the device didn't explode. Salonen's DNA was found by British police on the bomb. The court said Salonen was guilty of 20 counts of threats for including a white powder in letters to lawmakers sent in 2017. Sweden's security service which was involved in the case because it concerned national government members, determined the powder was harmless. Prime Minister Stefan Lofven received a handwritten letter with the text "you will soon be dead" ...
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To recover dues worth Rs 39 crore, markets regulator Sebi has ordered attachment of 26 properties of Utkarsha Plotters & Multi Agro Solutions India and its directors in a case related to illegal fund raising. The properties being attached are agricultural as well as non-agricultural land parcels, commercial shop and bungalow located in Maharashtra, the Securities and Exchange Board of India (Sebi) said in an order. The regulator also prohibited entities concerned "from taking any benefit under such disposal, transfer, alienation or charge in respect of the properties, which stands attached in execution of recovery certificate". The move comes after the markets regulator, in September, attached the bank and demat accounts of the company and its directors. However, they failed to pay dues. "Further, the amount available in the banks/value of holding in the demat accounts is approx Rs 2.49 lakh only as against the total dues of Rs 38.76 crore with returns due to investo...
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Banking and financial services major HSBC and Reliance Industries Ltd on Sunday said that they have executed a first-of-its-kind blockchain trade finance transaction, validating the commercial and operational viability of blockchain as an alternative to conventional exchanges for paper-based documentation. from Markets https://ift.tt/2F3J0XB
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An 18-year-old man was apprehended by the Uttar Pradesh ATS for allegedly making several calls to the Miami airport in the US and threatening to blow it up, an official said Saturday. Legal action was initiated against him, IG ATS Asim Arun said. The accused had purchased Bitcoins worth USD 1,000 but someone duped him, following which he lodged a complaint with the FBI, an American intelligence and security service, but did not get a desired response, he said. So the accused made several calls to the Miami airport and threatened to attack it. "I will come with AK47, grenade, suicide belt and kill everyone," the man, whose identity was not disclosed, said in his calls. The FBI talked to the man but he continued making threat calls using Voice over Internet Protocol (VoIP) from October 2 till October 31, the IG said. He was traced on the basis of IP address and during interrogation, he confessed, Arun said. The man will be chargesheeted in court. Section 41A of the CrPC does no...