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rupee posted its biggest weekly loss in over two months, even as it closed stronger on Friday tracking a rise in its Asian peers and aided by dollar sales from large foreign banks. The rupee ended at 83.14 against the U.S. dollar, compared to its previous close at 83.2775. The rupee's gains on Friday were aided by dollar sales from two large foreign banks, likely on behalf of custodian clients, a foreign exchange at a private bank said. For the week, however, the currency declined 0.16%, its worst week since Oct.

Bitcoin, the pioneering cryptocurrency, has surged to $44,050, marking over 1.4% increase and signaling a buoyant phase for the crypto industry. This upswing coincides with Coinbase’s strategic expansion, as the company secures a crypto license in France, indicating a broader global outreach. Meanwhile, tech maverick Elon Musk has announced plans for ‘X’ to delve into financial services by mid-2024, potentially reshaping the fintech landscape.

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Japan on Friday finalised its record 7.7 trillion yen ($54.25 billion) defence budget for fiscal 2024, the second consecutive year in which the country increased defence spending by about a trillion yen from the previous year. The approved budget keeps Japan on track to boost military spending by 43 trillion yen over five years as it seeks to bolster defences in a complex security environment with an increasingly assertive China and unpredictable North Korea. The 2024 budget for the year starting April represents an increase of about 17% from the previous year's spending of 6.6 trillion yen. It includes over 200 billion yen to strengthen cyber capability as well as funding to start building ballistic missile defence warships with Aegis combat systems, the defence ministry said, estimating the cost per vessel at about 400 billion yen. A collapse in the yen has complicated Japan's defence build-up, sources previously told Reuters, forcing the government to initially reduce its defence procurement plan as the currency has lost 10% of its value against the U.S.

Flipkart on December 21 confirmed that parent company Walmart will infuse around $600 million in the Indian e-commerce firm, Reuters reported. This $600 million is a part of the total $1 billion fresh capital that Flipkart is aiming for, sources told the agency. Walmart is the largest shareholder in the Bengaluru-based start-up.

Catch Live Market Updates here The domestic equity market ended higher on Thursday amid across-the-board buying as investors remained upbeat on India’s growth prospects. The Sensex ended 358.79 points, or 0.51%, higher at 70,865.10, while the Nifty 50 gained 104.90 points, or 0.50%, to settle at 21,255.05. “Market is likely to move in a range as investor participation is expected to gradually decline globally ahead of the Christmas and New Year holiday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

virtual meeting with his Chinese counterpart on Thursday, the Pentagon said, in the first such conversation in over a year amid hopes by U.S. officials that it could lead to a broader restoration of ties between the two militaries. The video teleconference followed an agreement between U.S. President Joe Biden and Chinese President Xi Jinping last month to resume military-to-military ties severed by Beijing after then-House of Representatives Speaker Nancy Pelosi visited self-ruled Taiwan in August 2022. U.S.

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selling cocaine for recreational use. It is seen as a radical approach to the war on drugs that is not thought to have been tried elsewhere. According to Reuters, the city's parliament still needs to overcome opposition from the city government and will also require a change in national law.

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits rose just marginally last week, suggesting underlying strength in the economy as the year winds down.

PRAGUE (Reuters) -The Czech National Bank (CNB) started an interest rate-easing cycle on Thursday with a 25 basis-point reduction that puts the main repo rate at 6.75%, the first cut in more than three years amid a backdrop of slowing inflation and a sagging economy.

Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels.

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By Bhanvi Satija, Jaiveer Shekhawat and Nupur Anand

Investing.com-- Oil prices fell in Asian trade on Thursday as momentum in a recent rally was culled by data showing an unexpected build in U.S. inventories, while talks over a potential ceasefire in the Israel-Hamas war dented bets on more supply disruptions.

Catch Live Market Updates here The domestic market ended with sharp losses on Wednesday as investors opted for profit booking after the indices hit record highs. The Sensex slumped 930.88 points, or 1.30%, to end at 70,506.31, while the Nifty 50 ended 302.95 points, or 1.41%, lower at 21,150.15. “Domestic equities are witnessing sell off after a sharp run up of more than 12% in the last seven weeks.