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The energy industry led by Brookfield's $1.9 Billion investment in Reliance Pipeline Infra also saw a growth in investments. from Markets https://ift.tt/2QGTgHV
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Showing posts from December, 2019
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The rupee depreciated by 9 paise to close at 71.27 against the US dollar on Tuesday amid heavy selling in domestic equities and steady rise in crude oil prices. Forex traders said the rupee traded in a narrow range but was weighed down in the latter half of the session after reports emerged that the government might not be able to meet its disinvestment target. At the interbank foreign exchange market, the domestic currency opened weak at 71.22 and later fluctuated between a high of 71.15 and a low of 71.29. The domestic unit finally settled at 71.27, showing a fall of 9 paise over its previous close of 71.18. "Rupee continued to consolidate in a narrow range but was weighed down in the latter half of the session after reports that the government might not be able to meet its disinvestment target. Some sources suggest that the government will not be able to finish the disinvestment process for BPCL as well as for Air India in the current fiscal year," Gaurang Somaiyaa, Forex ...
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Infosys on Wednesday announced the launch of three blockchain-powered distributed applications for government services, insurance, and supply chain management domains. "These comprehensive applications designed as ready-to-subscribe business networks ensure quick deployment, interoperability across disparate systems of value chain stakeholders and a wide variety of use cases involving other digital technologies like IoT, Analytics as well," it said. They are equipped with predictive return on investment (ROI) analytics for business investments that can be tailored to meet numerous industry-specific needs, the Bengaluru-headquartered IT services major said in a statement. Enterprises can capitalize on blockchain's benefits of trust, immutability, and transparency to develop an inter-organisational conduit for strengthening their core business processes across multiple value chain partners having disparate IT systems, the company added. from Markets https://ift.tt/2Es1MED...
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A 26-year-old man and an accomplice were arrested for growing cannabis at the former's residence in Chembur in Mumbai after ordering seeds from abroad using the Darknet and paying through bitcoins, police said on Tuesday. Mahul-resident Nikhil Sharma was arrested with one kilogram of cannabis and 54 grams of mephedrone on Saturday by Unit III of the Crime Branch after which they raided his home where the cultivation was discovered, an official said. "He was using hydroponic system to grow cannabis in his home. He used the Darknet to order seeds from abroad and paid by bitcoins, which are illegal in India," the official said. Hydroponics is a method of growing plants without soil by using mineral nutrient solutions in water solvent instead. "Sharma named Frenix Rajaiyya (26) as his accomplice in procuring the cannabis seeds from the dark web after which he too was arrested. They were remanded in police custody till Friday," he informed. from Markets https://ift...
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Amid instances of crises at various entities in the financial sector, Sebi chief Ajay Tyagi on Monday said such things affect trust of investors but that do not mean everything is wrong, and the regulator is taking steps quite quickly. "Whatever improvement is required, we are doing it quite quickly... whatever is in Sebi's domain," Tyagi said and referred to action taken in the case of crisis at Karvy Stock Broking Ltd. When asked whether instances such as crisis at DHFL, IL&FS and KSBL have impacted investors' trust, Tyagi said, "definitely such things affect the trust (of investors) but that does not mean everything is bad or everything is wrong". According to him, whatever was in Sebi's domain, the regulator has done things quite promptly. "Karvy was in our domain. We did very promptly. We are trying to improve on rating agencies side... and on bond market development," he said. On November 22, Sebi barred KSBL from taking new clients i...
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Global telecom solutions provider Subex on Tuesday said it has collaborated with Risk & Assurance Group (RAG) to provide a blockchain-based fraud management solution to its customers. Fraud continues to be a major problem for telecom operators, costing them billions of dollars annually. "As part of this alliance, Subex becomes part of the RAG Wangiri Blockchain Consortium which seeks to use blockchain technology to gather real-time industry threat intelligence about fraudsters," Subex said in a filing to the BSE. RAG is run by experts in the field of risk and assurance within telecom companies. The consortium includes some of the world's leading communications service providers from North America, Europe, Africa, and Asia, the filing said. With technology enabling fraudsters to outsmart traditional fraud management controls, solutions that can enable data exchange in real-time are the need of the hour for operators, Subex said. So by partnering with the RAG Wangiri Bl...
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US authorities arrested three men in an alleged fraud that raised USD 722 million from investors lured by fake bitcoin mining earnings, the Justice Department announced Tuesday. Prosecutors described the scam as a "high-tech Ponzi scheme" run by the "BitClub Network," which took money from investors and rewarded them for recruiting new shareholders. From April 2014 through December 2019 the group attracted unsuspecting investors using fraudulent earnings purported to come from the network's mining pool, according to the statement. The scheme was orchestrated from Passaic, New Jersey and constituted a "worldwide fraudulent scheme," according to an indictment signed by US Attorney Craig Carpenito of New Jersey. In messages with his co-conspirators, defendant Matthew Brent Goettsche referred to investors as "dumb" and said he was "building the whole model on the backs of idiots" as he directed others to manipulate the figures, the Just...
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Led by a steep 25.5 percent fall in cut and polished diamonds exports, the overall gems & jewellery exports fell 4.74 percent to Rs 18,136.2 crore in November year-on-year due to poor consumer sentiment in the key export markets. In November 2018, the overall gems & jewellery exports stood at Rs 19,039.10 crore, according to data given by the Gems & Jewellery Export Promotion Council (GJEPC). Overall exports declined by 4.85 percent to Rs 1,76,540.39 crore between April and November 2019 from Rs 1,85,543.57 crore a year ago. The decline is mainly due to poor consumer confidence in the export markets, GJEPC said in a statement on Tuesday. Cut and polished diamonds exports declined 25.49 percent to Rs 8,341.88 crore from Rs 11,195.52 crore in November 2018. The shipments of Cut and polished diamonds in the April-November period also dipped 18.21 percent to Rs 94,274.13 crore. However, gold jewellery exports went up 21.33 percent to Rs 7,893.89 crore. Gold ... from Markets h...
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Developments around US-China trade talks, Fed interest rate decision and release of key macro-economic data in the later part of the week are expected to influence the equity markets, analysts said. The US Federal Reserve interest rate decision on Thursday will be a major event that would be keenly tracked by markets globally. "Markets are expected to remain volatile this week as many factors globally and stock-specific (developments) will influence the bourses. US Fed meeting outcome will be a major international event," Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote said. Investors will keep a close watch on progress of US-China trade talks. Back home, two major data points are scheduled to be released on Thursday post trading hours -- industrial production and inflation rate -- which may also influence sentiment in the markets. Last week, the Sensex dropped 348.66 points or 0.85 per cent. In the last two trading days, markets witnessed slide after the RBI...
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Leading stock exchange NSE has shortlisted eight companies, including Future Enterprises and GMR Infrastructure, that have higher levels of pledged shares by promoters, for surveillance action. The exchange would levy minimum margin of 35 per cent on the respective shares, including on stocks in derivatives segment. Jindal Steel & Power, Dish TV India, Gayatri Projects, Max India, Sadbhav Infrastructure Project and Sequent Scientific are the other six companies identified for surveillance action, according to a circular. "The applicable rate of margin in equity and equity derivatives segment shall be 35 per cent or existing margin, whichever is higher with effect from December 5 on all open positions as on December 4 and new positions created from December 5," the bourse said. It also noted that shortlisting of securities under this surveillance measure is purely on account of market surveillance and it should not be construed as an adverse action against the concerned co...
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Corporate bigwigs Amazon, Infosys and Yes Bank are among the 28 companies which have responded to an expression of interest (EoI), floated by Tea Board, for using blockchain and allied technologies to determine the traceability of tea, an official said. Tea Board deputy chairman Arun Kr Ray said that this exercise is required for long-term sustainability of the industry as costs are rising and prices of tea have been flat at auctions. "We are going to start an exercise for determining the traceability of tea, particularly of the orthodox variety, using blockchain technology", Ray told PTI. He said the use of technologies will also help to determine whether a variety of tea has been grown organically or not. "Amazon, Infosys, Yes Bank and 25 others have responded to the expression of interest. The selected consultant will give advice on the costs for carrying out the exercise on a long-term basis", he said. Ray said India is the second largest producer of the beverag...