Digital Financial News

“Gold is an integral part of portfolios due to its lower returns correlation to other asset classes including equities. Tactically too, in our model portfolios, we are reducing the allocation to mid and small caps while rebalancing gold,” says Roopali Prabhu, Head of Products & Solutions, Sanctum Wealth. In an interview with ETMarkets, Prabhu said: “If the risk intensifies in financial markets or geopolitical context, we will probably add some gold to our portfolios” Edited excerpts: Indian market seems to be consolidating after hitting a high in September largely on account of global factors. What is your take? Since the beginning of this US rate hike cycle last year, markets constantly believed that the Fed would not hike as much as they were projecting and instead would cut earlier. However, the Fed followed through on its commentary until the recent hawkish pause. The mixed data coming from the US is now being interpreted as resilience and markets finally are realigning their rate cut expectations closer to those of the Fed.

cryptocurrency exchange Binance has halted withdrawal of dollars by its clients from the platform, its updated terms showed on Monday. In early June, Binance.US had halted dollar deposits, after the US Securities and Exchange Commission (SEC) asked a court to freeze its assets. «In the event that customers wish to withdraw US dollar funds from their account, they may do so by converting US dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn,» the terms page said. Binance.US did not immediately respond to Reuters request for comment.

Reuters that the estimated number was around 500. Also Read: Israel-Hamas War LIVE Updates: ‘Outraged, deeply saddened’ over Al Ahli Arab hospital blast in Gaza, says Joe Biden 2. Israeli and Palestinian authorities each pointed fingers at the other as they sought to assign blame for the incident.

Ukraine war and an escalating conflict in the Middle East. Xi is hosting Putin along with dozens of global leaders at the Belt and Road Initiative (BRI) Summit to celebrate 10 years since the Chinese President launched the infrastructure project aimed at strengthening alliances with Asian, African, and Latin American nations. During the meeting, the two leaders are expected to focus on their remarks about the Israel-Hamas war as US President Joe Biden is visiting Israel today.

₹2,870.1 crore in the first quarter, up 11.95 per cent from ₹2,563.6 crore in the corresponding period last year. However, revenue only grew by 6 per cent YoY in the single digits. Let's take a look at what top brokerage firms expect from Wipro's Q2FY24 scorecard: (Exciting news! Mint is now on WhatsApp Channels.

RIL/Bharti Airtel: Bharti Airtel and Reliance Jio could face potential tax demands exceeding ₹14,000 crore due to the Supreme Court’s recent decision on licence fee categorisation, according to analysts. The judgment stipulated the treatment of the licence fee as capital, a departure from its previous classification as an expenditure.

Tata Elxsi, the design and digital technology division of the Tata Group, recently disclosed a net profit of ₹200 crore in the quarter ending September 2023, according to a regulatory filing submitted on October 17.This net profit marks a 14.8% annual growth, given that it was ₹174.3 crore in the corresponding period last year. Moreover, the company's net profit witnessed a sequential increase of 5.9% from ₹188.9 crore, which was reported in the June 2023 quarter.

Finance Minister Chrystia Freeland says she is directing the Financial Consumer Agency of Canada (FCAC) to work on making no- and low-cost bank accounts more readily available for Canadians.

New York | Activist investor Starboard Value, which has built a position in News Corp, wants the Murdoch-family controlled media giant to separate its Australian real estate business.

Federal Reserve Governor Michelle Bowman believed that implementing U.S. central bank digital currency (CBDC) could pose significant risks and tradeoffs for the country’s economic system.

The Fed has been investigating the pros and cons of a digital dollar for several years, publishing a discussion paper on the issue in January 2022. At a Harvard Law School event on Tuesday, Bowman argued that the US has a "safe and efficient" payments system that is already evolving with "responsible innovations, notably the recently-launched FedNow. She continued: "Future innovations may further build upon these services to more effectively address payment systems frictions and financial inclusion. It is quite possible that other proposed solutions may address many or all of the problems that a CBDC would address, but in a more effective and efficient way." Meanwhile, a retail CBDC could have unintended consequences for the US banking system and considerable consumer privacy concerns, said Bowman. "If not properly designed, a CBDC could disrupt the banking system and lead to disintermediation, potentially harming consumers and businesses and presenting broader financial stability risks." Despite her scepticism, Bowman said that she sees value in continuing to research CBDCs, noting the "interconnected and global nature of the financial system".

The business has received the green light to register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) regulations 2017. This means that Komainu can offer crypto-custody services in the UK, including collateral management services.

A brief 10% surge in Bitcoin gave traders a glimpse into the possible impact of a looming US Securities & Exchange Commission decision on whether to allow exchange-traded funds that invest directly in the token.

Customer apathy toward life insurance and annuities is a decades-old challenge, but technology is helping the industry change perceptions.

Amidst the swirling speculations and ever-evolving crypto landscape, recent rumors of a potential Bitcoin ETF approval have ignited a fervor in the trading community. 

European crypto investors will have to wait a little longer for the full provisions of Markets-in Crypto Assets (MiCA) to kick in, according to the European Securities and Markets Authority (ESMA).

After failing to respond to a prior order, embattled crypto lender Genesis has been subpoenaed by a New York court to produce documents related to the collapse of the algorithmic stablecoin TerraUSD (UST) last year.

advanced artificial intelligence to China and other countries. The measures are designed to prevent China from acquiring the cutting-edge chips needed to develop AI technologies such as large language models, which power applications such as ChatGPT but that US officials say also have military uses that present a national security threat.

MUMBAI : Jio Financial Services Ltd on Monday unveiled its long-term strategy to position itself as a full-fledged financial services company by diversifying into secured loan products, including home and auto loans. In its half yearly results presentation to analysts, the firm said it has launched personal loans for the salaried and self-employed in Mumbai, besides consumer durable loans across 300 stores in India. The services are available on the MyJio app, it added.

Dimensions: The USB-C Apple Pencil measures 7.5 x 155 mm and weighs 20.5 grams - nearly identical to the Apple Pencil 2. The USB-C Apple Pencil will be available for customers in early November this year.

NEW DELHI : India’s second largest hearables maker Boult Audio is looking to tap the private equity markets in FY25 to raise funds by divesting up to 15%, to expand its footprint in international markets and contract manufacturing capacities. “We will look at capital from private equity next year... we may look at offloading a stake anywhere between single digit to early teens.