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In the past week, the realty index has rallied 6 per cent, relative to a 1.4 per cent rise in the benchmark index. from Markets https://ift.tt/2IZVv6a
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Showing posts from June, 2019
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Europeans and Americans have their Visa and Mastercards. For everyone else, here comes ... Libra? Facebook's new Libra digital currency is aimed at a huge potential market for financial services the entire developing world, with billions of people in areas such as India and Sub-Saharan Africa, where financial services are often less sophisticated and many people don't use traditional banking accounts. Whether or not these billions will want to make the switch is anyone's guess. The US, Europe and most developed economies already have large, efficient payment systems. These allow people to buy and sell goods in real time and send money person-to-person through services like Zelle, PayPal and Venmo. That's why the companies that joined Facebook's Libra association, as well as nonprofits involved with similar projects, say Libra's potential lies elsewhere. In developing countries, many tens of millions still live far from a bank or money transfer center, or current...
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: A person has been arrested in Delhi and brought here for allegedly cheating public, including from Telangana and other southern states, to the tune of Rs 52 crore in a bitcoin scam, police said Friday. Ashish Malik, the main accused, was arrested in the national capital and brought to the city on a transit warrant Thursday based on a complaint lodged by victims here, the police said. Malik and other accused, involved in the scam, were collecting money online using four different websites, they said. The main accused had allegedly collected nearly Rs 52 crore from about 1,200 depositors across the country. There were about 250 depositors from Telangana and other southern states who had deposited Rs 10 crore, the police said. Search was on for other accused, they said. from Markets https://ift.tt/2RE7QzU
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Hyderabad Police's Central Crime Station (CCS) on Thursday arrested a person from Delhi for duping people in Telangana and other states in the name of online business involving bitcoin transactions."The accused have been identified as Ashish Malik and case has been registered against him under section 66 C, D of the IT Act-2008 and Section 419, 420, 120 (B) of the Indian Penal Code (IPC) and section 5 of Andhra Pradesh Protection of Depositors of Financial Establishments Act 1999," said police.The police added, "Malik was brought on transit warrant from New Delhi and produced before the Metropolitan Sessions Judge Court in Telangana for judicial remand. The arrest was made after a complaint was filed by Bollarapu Rama Krishna, accusing Malik and four other persons in the bitcoin fraud."The police further said, "As per the complaint, the accused persons have created four websites for collecting money for online bitcoin business. They have appointed various p...
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The Anti-Terror Squad (ATS) of Rajasthan Police has unearthed a huge bitcoin scam in the state, with links possibly spread out to other states and even countries.The bust is seen as one of the biggest action against illegal Bitcoin trade in the country.The Rajasthan ATS swung into action after receiving a complaint from a group of people who had invested in companies like monigo.com, and bet2bet.com, which they said promised them handsome returns on their investment.The complainants alleged they did not receive any money in return and instead, were asked to invest money in another company on the promise of even better returns which led to the suspicion in the minds of the investors.An FIR has been registered in this connection.Police conducted multiple raids at different locations across the state and arrested the four persons, who are believed to be the main accused.Police said they are also interrogating other individuals with possible connection to the scam. The ATS is also ... fr...
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The dollar rose Wednesday while gold and most Asian equities fell after top Federal Reserve officials dented hopes for a big interest rate cut, while traders are also fretting over this week's meeting between Donald Trump and Xi Jinping. Adding to the downward pressure were concerns about worsening tensions between the US and Iran, although a drop in US stockpiles boosted oil prices. Global markets had been on a healthy rally for more than a week after Trump hailed phone talks with his Chinese counterpart and said they would meet to discuss their trade war on the sidelines of the G20 summit in Osaka. That coincided with a dovish lean from the US central bank that raised expectations that it would soon announce its first rate reduction in more than a decade. However, optimism took a hit Tuesday after Fed boss Jerome Powell warned about the outlook for the US economy but said policymakers would not "overreact" to recent data. Also Tuesday, St Louis Fed president James Bulla...
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Heading in to the G20 summit, Facebook is on notice from powerful regulators including the Fed chief that its ambitious plans for a global crypto-currency face piercing scrutiny. The Libra coin is endorsed by a heavyweight consortium of companies, and could see Facebook leverage its two billion-plus users to bring crypto-money out of the shadows and into the mainstream. But Federal Reserve chairman Jerome Powell, addressing the launch for the first time on Tuesday, added his considerable voice to warnings heard already from regulators in Europe and from US lawmakers. "We're looking at it very carefully," Powell told an event sponsored by the Council on Foreign Relations in Washington. "Given the possible scale of it, I think that our expectations from a consumer protection standpoint, from a regulatory standpoint, are going to be very, very high," he said. Facebook promises the new currency, launching next year, will slash transaction costs and bring more servic...
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Digital technology provider Subex said on Tuesday that it will be a part of the ITW Global Leaders' Forum's Communications Blockchain Network (CBN), a blockchain-based consortium which aims to revolutionise the ICT service provider industry's commercial settlement infrastructure.Through its mission to accelerate the adoption of automated settlement applications, CBN represents an opportunity worth billions of dollars to the global industry in terms of costs savings and revenues from new products and services.The ITW Global Leaders' Forum is a global network of leaders from the world's largest international carriers who convene to discuss strategic issues and to agree on collaborative activities, with the aim of upholding the principle of interoperability and ubiquitous international and technological coverage.The CBN, which is expected to go live in the coming months, will be governed by a collaborative structure. Besides technology providers like Subex, the platfor...
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The ITW Global Leaders' Forum is a global network of leaders from the world's largest International Carriers, who convene to discuss strategic issues and to agree collaborative activities, with the aim of upholding the principle of interoperability and ubiquitous international and technological coverage. from Markets http://bit.ly/2KAWpID
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The Special Task Force of Madhya Pradesh police Tuesday arrested a couple and claimed it had busted an international cryptocurrency racket that has duped around 1,000 people of several crore rupees. A senior STF official said the couple, identified as Brijesh Raikwar (36) and his wife Seema (36), were from Jabalpur, while two gang members hailed from Hong Kong. "We have arrested the kingpin of the gang Brijesh Raikwar (36) and his wife Seema (36). They hail from Jabalpur and have duped around 1,000 people online," STF Bhopal Superintendent of Police (SP) Rajesh Bhadoria told PTI. "We have got a complaint that the gang's members in Hong Kong, Daniel Francis and Kevin, are luring people online and duping them," he said. The gang had developed a illegal cryptocurrency exchange online to trap and cheat people, he said. Bhadoria said probe so far had found that the accused had cheated people of Rs 10 crore and this figure was likely to increase as more leads come in....
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A trustee's audit of bankrupt Canadian cryptocurrency exchange QuadrigaCX has discovered that its late founder siphoned millions of dollars from clients and spent it on himself and his wife. Court-appointed monitor Ernst & Young said in a report that QuadrigaCX's late president Gerald Cotten had transferred the funds from customers' accounts to other cryptocurrency exchanges and then used the money to buy luxury goods, real estate and travel -- and to cover his trading losses. According to the report, "significant volumes of cryptocurrency were transferred off platform outside Quadriga to competitor exchanges into personal accounts controlled by Mr. Cotten." "It appears that user cryptocurrency was traded on these exchanges and in some circumstances used as security for a margin trading account established by Mr. Cotten," it said. "In addition, substantial amounts of cryptocurrency were transferred to wallet holders whose identity the monitor ha...
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If Facebook's new cryptocurrency should resonate anywhere it should be India, where the social media giant has more than 300 million followers. Many Indians are shut out of banking and face punitive fees for simple transactions, like transferring money to their loved ones. But in India as elsewhere, the US company's ambitions to remake global finance through its "Libra" currency will have to overcome regulatory mistrust, plus the existence of popular homegrown rivals in the market for digital payments. "If regulations were not a hurdle in India, Libra would instantaneously have a massive reach because of Facebook," Anirudh Rastogi, the founder of a technology-focused law firm in New Delhi, told AFP. When it launches next year, Libra will be backed by a basket of real-world currencies and a consortium of companies. To mint and store new coins, access to its underlying "blockchain" technology will be more restrictive than for the free-for-all of bitc...
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/ -- Singapore-based global payments technology company, Wise MPay, are working with renowned blockchain experts, Jelurida, to launch a public-permissioned blockchain financial services (BFS) platform. With KPMG research showing 27% of Southeast Asians own a bank account while local mobile connections outnumber the population by 33%, the region is ripe for a revolution in access to digital finance. Coalculus is aiming to launch in September 2019 as JPL-compliant software that brings cutting-edge digital payment, remittance, and ATM solutions to governments, banks, and the unbanked of Southeast Asia. Banks and financial institutions consider blockchain capable of both increasing trust in multi-party centralized ecosystems and increasing the speed, security and efficiency of many traditional banking processes. The Coalculus BFS platform is being built on the time-tested Proof-of-stake (POS) consensus algorithm, ensuring high levels of decentralization, security, scalability and ... fro...
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Asian markets mostly rose Tuesday but gains were limited with investors treading uneasily as they await the conclusion of a crucial Federal Reserve meeting this week. While geopolitical tensions and the China-US trade war continue to make waves, the key focus for now is what the US central bank plans to do with monetary policy as the tariffs stand-off shows signs of impacting the world's top economy. The latest weak data saw manufacturing activity in New York state plunge into contraction this month and hit its lowest level since late 2016, reflecting steep drop-offs in new orders, order backlogs and employment. Observers pointed out the reading coincided with Trump's threat to impose tariffs on Mexico over immigration policy, which he has since withdrawn, but added that the reaction suggests how manufacturers would react to further action against China. There has been increasing talk that the Fed will cut borrowing costs for the first time in more than a decade, though the ......
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France's finance minister said Tuesday that strong guarantees were needed over the use of cryptocurrencies after Facebook announced it was leaping into the market with its own digital money. Finance Minister Bruno Le Maire, whose government has also initiated a new tax on digital giants like Facebook that has angered the United States, said such digital money could never replace sovereign currencies. "If Facebook wants to create an instrument for transactions, why not? But there is no question that this can become a sovereign currency," he told Europe 1 radio, saying a "limit" had to be set. "It cannot and must not become a sovereign currency, with all of attributes of a currency" such as the capacity to issue sovereign debt and serve as a reserve currency. "The aspect of sovereignty must stay in the hands of states and not private companies which respond to private interests," Le Maire added. There need to be "guarantees" so that ...
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The use of Bitcoin -- a popular virtual currency -- emits over 22 megatonnes of carbon dioxide annually, comparable to the total emissions of cities such as Las Vegas and Vienna, a study has found. Researchers from Technical University of Munich (TUM) in Germany carried out the most detailed calculation of the carbon footprint of the Bitcoin system to date. For a Bitcoin transfer to be executed and validated, a mathematical puzzle must be solved by an arbitrary computer in the global Bitcoin network. The network, which anyone can join, rewards the puzzle solvers in Bitcoin. The computing capacity used in this process -- known as Bitcoin mining -- has increased rapidly in recent years. Statistics show that it quadrupled in 2018 alone. Consequently, the Bitcoin boom raises the question of whether the cryptocurrency is imposing an additional burden on the climate. Several studies have attempted to quantify the CO2 emissions caused by Bitcoin mining. "These studies are based on a numb...
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A call centre scam that targeted US citizens was busted by the police with the arrest of 78 people, including 19 women, here in Madhya Pradesh, officials said Wednesday. The Indore unit of Madhya Pradesh police's Cyber Cell unearthed the online scam, which involved tele callers with American accent duping US citizens, being operated by a gang from different places in the city, they said. The gang was operating from three fake call centres in the Vijay Nagar area here and the amount involved in the scam was pegged at around Rs 12 crore, the police said. "Acting on a tip-off about suspicious activities being carried out from these places in the city, the police arrested the gang leader, Javed Menon (28), and 77 others Tuesday. "Among those caught, a majority were tele callers. They were operating from three call centres with a capacity of 25 seats each," Jitendra Singh, Superintendent of Police, Cyber Cell-Indore, told reporters. "Cops recovered 60 computers, 70 c...