Action Financial News

policy environment in 2024 have boosted most Asian currencies versus the dollar, but the rupee's gains have paled in comparison as the Indian central bank looks to build a reserves buffer and preserve export competitiveness amid a global scarcity of the greenback. On Thursday, the rupee closed at 83.3275 per US dollar, just 0.09% stronger than 83.4025/$1 at previous close. Meanwhile, currencies such as the Thai baht and the South Korean won notched up gains of around 2% versus the US dollar on Thursday while the Indonesian rupiah strengthened 1%, Bloomberg data showed. The Malaysian ringgit, the Taiwanese dollar, the Chinese yuan, the Philippine peso, and the Singapore dollar also outstripped the rupee's gains on Thursday, with the domestic currency extending the underperformance it showed versus its Asian peers last month.

RBI) will carry out a 7-day variable rate repo auction worth ₹1 lakh crore on December 15, marking the first time in six months that the central bank will infuse liquidity into the banking system through this route. The RBI has taken the decision to inject liquidity into the banking system in light of outflows on account of advance tax and goods and service payments. «The 14-day VRRR auction conducted on December 01, 2023 and subscribed for ₹22,468 crore is maturing and allowed to be reversed on December 15, 2023,» read a release on the RBI's website on Thursday. «Furthermore, in view of likely outflows from the banking system on account of advance tax and GST payments, it has been decided to conduct a 7-day variable rate repo auction on December 15, 2023, Friday.» The last time that the RBI had conducted a variable rate repo auction was on June 19. Over the past year, the central bank has taken steps to drain out excess liquidity from the banking system. However, liquidity has tightened significantly over the past couple of months due to demand for currency during the festive season, the RBI's actions in currency markets and tax payments.

Xcel Energy has been fined $14,000 related to leaks of radioactive tritium from its nuclear power plant at Monticello

New oil and natural gas leasing will be prohibited on New Mexico state land surrounding Chaco Culture National Historical Park for the next 20 years

Three major U.S. retailers — Amazon, Target and Walmart — say they’re suspending sales of water-bead products marketed to young children due to growing safety concerns

Chinese e-commerce retailer Temu is suing rival Shein again

The climate negotiations that just finished in Dubai hit upon the essence of compromise, finding common language that everyone accepted, at times grudgingly

General Motors’ troubled Cruise autonomous vehicle unit is cutting over 900 jobs as it moves to reduce costs and remake itself after a series of safety problems in San Francisco

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By Jason Lange, Alexandra Ulmer and Gram Slattery

Tether (USDT), the largest stablecoin by market capitalization, may be «constrained» in its ability to maintain its peg to the U.S. dollar, S&P Global Ratings said Tuesday, citing concerns about its reserve transparency and risk appetite, among other issues.

BSE Sensex closed above 20,000 on 11 December 2007. By October 2008, the retiree would have notionally lost more than 60% of their equity corpus when the Sensex plummeted below 8,000. This risk, wherein negative market returns occur early in retirement or even during the last leg of working years, impacting the longevity of retirement savings, is known as sequence of returns risk.

The Conference of the Parties to the UN Framework Convention on Climate Change finished its 28th session (CoP-28) later than scheduled, but creating a strong hope that the world would have a better chance of mitigating the climate impact of human-induced emissions of greenhouse gases. There were many announcements made in the two weeks of the Conference.

A Step Into the Cryptocurrency Market

As the saying goes, «Better late than never,» but when it comes to filing your income tax return (ITR), failing to meet the deadline can have serious consequences. 

The Arbitrum DAO, a layer-2 networking system designed to enhance Ethereum blockchain scalability, has recently taken a significant step in expanding its Short-Term Incentive Program (STIP). The DAO, governed by ARB token holders and financed through transaction fees, voted to increase its STIP budget by $23.4 million. This decision was made during a community vote held from November 18 to December 2, 2023.

An independent review of Starbucks' labor relations concluded that Starbucks should better communicate its commitment to workers’ collective bargaining rights and train its employees to respect those rights

Argentines are facing uncertainty and concerns after President Javier Milei’s government announced economic shock measures aimed at tackling the country severe crisis

West Bengal Chief Minister Mamata Banerjee on Tuesday warned the Block Land Revenue Officers (BLRO) against corruption in land-related matters and directed the state administration to take stern action if someone is found involved in corruption. Banerjee was speaking at an administrative programme in Siliguri during the last lap of her North Bengal visit. «I am not saying all officers are corrupt but due to some officials, others also earn a bad name.

Kerala Governor Arif Mohammed Khan on Tuesday stepped up his attack on Kerala's Pinarayi Vijayan government, by reiterating his charge that the violent demonstration that the CPM's youth wing workers staged around his car a day earlier was designed to attack him and pointed his fingers at the CM. He also opened a front by demanding from the government a report on the poor economic situation of the state. Talking to media persons here about the DYFI activists chasing his car in Thiruvananthapuram, Khan said on Tuesday. «It is the chief minister who has hatched this conspiracy (to attack him).

In the dynamic and often unpredictable world of cryptocurrencies, a few names have been stealing the limelight recently. PEPE, the popular memecoin, has soared to a five-month high, while Kaspa (KAS) and Borroe Finance ($ROE) are gearing up for what seems like an enormous rally. Let’s dive into why these cryptos are making waves and why they’re tagged as the top crypto to buy right now.