President Financial News

We are racing towards a future in which the global financial system will be predominantly digitised. Consumer expectations are increasingly demanding faster services covering loan approval, payment methods and settlements which are being delivered via the New Payments Platform and open banking reforms.

Bitcoin is currently trading at $27,955, experiencing a marginal 0.25% decline on Monday. In a notable development, the CEO of OpenAI has lauded Bitcoin as the "super logical" step on the tech tree, highlighting its significance in the evolving technological landscape. 

The federal government’s $387 billion price tag to replace Australia’s coal-fired power stations with small modular nuclear reactors “doesn’t make sense,” an executive from US manufacturer Westinghouse Electric has claimed, arguing the price could be much cheaper.

A convicted South Korean crypto fraudster has been sentenced to seven years in prison.

Joe Biden's $6 billion prisoner-swap deal with Iran is now under the spotlight after militant group Hamas, long backed by Iran, staged one of the bloodiest attacks on Israel in years. Some Republicans are trying to link Biden to attack. Nikki Haley, one of the Republican presidential candidate for 2024 polls, alleged that allowing Iran access to the billions of dollars improves its budget situation, letting it use the money elsewhere. «Let's be honest with the American people and understand that Hamas knows, and Iran knows they're moving money around as we speak, because they know $6 billion is going to be released. That's the reality,» she said. US Secretary of State Antony Blinken has however said that there is not evidence yet of «Iran directed or was behind this particular attack, but there’s certainly a long relationship.» Fighting between Israel and Hamas militants continued for the third day, which is likely to drag on. More than 1,100 people have been killed in Palestinian group Hamas's surprise assault on Israel on Saturday and Israel's retaliation.

Congress Working Committee's (CWC) crucial meeting began here on Monday and will see the party top brass hold discussions on its strategy for the upcoming assembly elections and a nationwide caste census. The meeting comes on a day when the Election Commission will announce the dates for the assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram.

«The timing is definitely symbolic, and I believe it was picked that way by the initiators,» Sarit Zehavi, President and Founder of Alma Research and Education Centre and former researcher in the Israel Defence Forces Intelligence Corps, told ANI. On Saturday, which was also a major Jewish holiday, Hamas militants launched a series of rocket strikes that hit major cities across Israel, and it sent waves of fighters across the border into southern Israel, killing hundreds of people and taking captives back to Gaza. Hamas militants used explosives to breach the barriers and then used bulldozers to widen the gaps. Militants entered into Israel in motorcycles and SUVs.

Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! “You spoke to UAE about India? Interesting. Campaigning for support?" reacted one user.

Buy or sell stocks for today: Following strong global cues on ease in US dollar index, Indian stock market ended higher on second day in a row on Friday last week. Nifty 50 index gained 107 points and closed at 19,653 levels, BSE Sensex shot up 364 points and ended at 65,995 mark whereas Bank Nifty index finished 147 points higher at 44,360 levels.

Reuters reported. 4) Iran helped Hamas plot the rocket attack on Israel and approved of the assault during a meeting in Beirut last week, according to The Wall Street Journal report. 5) US President Joe Biden ordered “additional support" for Israel.

rocket attack on Israel and approved of the assault during a meeting in Beirut last week, according to a report published by The Wall Street Journal. The death toll from the bloodiest war that erupted between Israel and Hamas surged to 1,000. The report also stated that the officers of Iran's Islamic Revolutionary Guard have worked with Hamas to plan the deadly attack since August.

BHP chief executive Mike Henry says stronger uranium prices will boost the business case for an expansion of South Australia’s Olympic Dam copper precinct, which would in turn allow BHP to grow its uranium output.

multilateral development banks (MDBs) has secured wide backing of these entities, people familiar with the deliberations told ET. The MDB reform programme will be taken up at the G20 finance ministers and central bank governors' (FMCGB) meeting in Marrakech under India's presidency on October 12-13. The reforms blueprint is derived from the report of the Independent Expert Group (IEG), co-chaired by 15th Finance Commission chairman NK Singh and former US treasury secretary Larry Summers, set up by the G20. The group recently submitted the second volume of its report outlining a roadmap for implementation of MDB reforms. The panel was set up under India's G20 presidency with a mandate to develop a road map for an updated MDB ecosystem — with milestones and timelines — that includes recommendations on the vision statement, incentive structure, operational approaches, and financial capacity. The G20 FMCBG meet, the last such meeting under the Indian presidency, will discuss the contours of the proposed roadmap at its meeting. Finance minister Nirmala Sitharaman chaired a meeting with the heads of MDBs last Friday in the run-up to the upcoming Marrakech ministerial to discuss the reforms suggested by the IEG. Some MDBs have already begun work on the IEG recommendations and are expected to adopt these after shareholder approvals, said one of the persons quoted above. «There is a wider acceptance of the need to carry out such reforms… Most MDBs have shown inclination and will take proposals to their shareholders,» the person said, adding that enhanced use of private capital and wider instruments such as hybrid capital is in focus. Some countries have expressed reservations on the proposed reform roadmap.

State Antony Blinken on Sunday said there is intense fighting going on in the Gaza area and the focus right now is on helping Israel recover the territory that has been taken by Hamas militant group, noting that the issue of intelligence failure would be probed into a bit later. Israel witnessed a surprise and unprecedented multifront attack — by air, land and sea — by the Hamas, which rules the Gaza Strip, in its southern parts on Saturday morning. More than 600 people, including soldiers, have been killed so far and more than 2,000 injured in Israel — the deadliest day for the country in at least 50 years.

North Korea-Russia border, indicating the North is supplying munitions to Russia, according to a US think tank. Speculation about a possible North Korean plan to refill Russia's munition stores drained in its protracted war with Ukraine flared last month, when North Korean leader Kim Jong Un travelled to Russia to meet President Vladimir Putin and visit key military sites.

caste census and poll strategies are set to dominate the Congress Working Committee (CWC) meeting here on Monday, with Assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram set to be announced soon. Congress president Mallikarjun Kharge, former party chiefs Sonia Gandhi and Rahul Gandhi, the chief ministers of all the Congress-ruled states and the top party brass will deliberate on election preparedness and narratives across the poll-bound states at length, besides holding extensive discussions on the party's firm pitch for a nationwide caste census and its implications.

India and Tanzania will sign 15 agreements covering different areas of cooperation, Tanzanian Foreign Minister January Yusuf Makamba said ahead of the bilateral talks between visiting President Samia Suluhu Hassan and Prime Minister Narendra Modi on Monday. The presidential visit from Tanzania to India is taking place after a span of more than eight years. «This is a very important visit for Tanzania.

Hamas assault on Israel has opened up a new front in the US election campaign as Republicans accuse President Joe Biden of being soft in his defense of Israel and in his handling of Iran. «I think this is a great opportunity for our candidates to contrast where Republicans have stood with Israel — time and time again — and Joe Biden has been weak,» Ronna McDaniel, chairwoman of the Republican National Committee, said Saturday on Fox News. Americans will choose a new president and control of Congress in November 2024, with Biden, 80, seeking another term in a race that looks likely to pit him against former president Donald Trump as the Republican candidate. Trump used the stunning Hamas attack by land, sea and air at dawn Saturday to target Biden. «The Israeli attack was made because we are perceived as weak and ineffective and with a very weak leader,» he said. Other Republican presidential hopefuls, like Florida Governor Ron DeSantis and former vice president Mike Pence, also dimissed Biden as weak. A stern-faced Biden gave a short speech from the White House on Saturday to stress firm US support for Israel. «Today, the people of Israel are under attack, orchestrated by a terrorist organization, Hamas,» Biden said. «In this moment of tragedy, I want to say to them and to the world and to terrorists everywhere that the United States stands with Israel.

Hamas militants and Israeli forces a day after the Islamist group launched a surprise attack on Israel from Gaza, in a dramatic escalation of the Israel-Palestinian conflict. Hundreds of people have been killed on both sides since the Iran-backed Hamas launched the multi-pronged assault at dawn on Saturday, with Israeli forces fighting holdout militants and pounding the Gaza Strip with air strikes.

Why has consumer spending proven so resilient as the Federal Reserve has raised interest rates? An important and little-appreciated reason: Consumers are getting older. In August, 17.7% of the population was 65 or older, according to the Census Bureau, the highest on record going back to 1920 and up sharply from 13% in 2010. The elderly aren’t just more numerous: Their finances are relatively healthy and they have less need to borrow, such as to buy a house, and are less at risk of layoffs than other consumers.

Indian Olympic Association (IOA) president P T Usha on Sunday supported the government's plan to place a proposal to host the 2036 Olympics. India won an unprecedented 107 medals, including 28 gold, in the games that ended on Sunday. In the Chinese city, the country saw an increase of 37 medals from the previous best achieved in the 2018 edition.