BUSINESS
Binance to cease support for 3 top stablecoins from Sep 29
The company said the move, to be effective from September 29, is to enhance liquidity and capital-efficiency for users. As a result, Finance will cease spot, future and margin trading with USDC, USDP and TUSD stablecoins. "Binance is introducing BUSD auto-conversion for users' existing balances and new deposits of USDC, USDP and TUSD stablecoins at a 1:1 ratio," the crypto exchange said in a statement late on Monday.
Moody's retains India's sovereign credit ratings
The release also said that the ratings agency could upgrade the rating if India's economic growth potential increased materially beyond their expectations, supported by the effective implementation of economic and financial sector reforms that led to a significant and sustained pickup in the private sector investment.
Homegrown Twitter rival Koo says laid off 15 employees, not 40
In a fresh statement to IANS, the Twitter rival said that 15 positions "have been made redundant or removed due to performance issues". "This is completely aligned with the industry standards of hiring and retrenchment. At the same time, Koo continues to hire talent in its monetisation, product and engineering teams," a company spokesperson said.
Coal production rose 8.2% in Aug to 58.33 mn tonnes
According to Coal Ministry data, Coal India Limited (CIL) as well as other captive mines recorded a growth of 8.49 and 27.06 per cent respectively by producing 46.22 million tonnes and 8.02 million tonnes, respectively. Coal dispatch went up by 5.41 per cent to 63.43 million tonnes in August 2022 compared to 60.18 million tonnes recorded in August 2021.
Reliance Industries to acquire US SenseHawk for $32 mn
The turnover of SenseHawk for FY 2022, FY 2021 and FY 2020 was $2,326,369, $1,165,926, and $1,292,063, respectively. The transaction is subject to certain regulatory and other customary closing conditions and is expected to be completed before end 2022. The California-based SenseHawk is a developer of software based management tools for the solar energy generation industry.
Surpassing UK as 5th largest economy is a pleasure to behold: PM Modi
Highlighting the appreciation received by the National Education Policy, the Prime Minister said that it is a step in the right direction. Emphasising the need to go through the National Educational Policy more than once, he Agave the analogy of Mahatma Gandhi where he read the Bhagavad Gita again and again and each time he found a new meaning.
Rupee has held its own despite sharp depreciation in other currencies: RBI Governor
"The recent commentary from the US Fed at Jackson Hole on the future trajectory of US monetary policy has infused substantial volatility into global financial markets, with large spillovers and knock-on effects on emerging market economies (EMEs)," RBI Governor Das said while delivering a speech during the annual event of Fixed Income Money Market and Derivatives Association of India (FIMMDA).
Rupee ends 4 paise up at 79.84 against US dollar
"Market participants vary as the central bank's dollar supply at one end limits the downside while the broad-based strength in the dollar pushes the rupee lower. However, one should always keep in mind The trend is your friend -- and any dip in USDINR will be an opportunity to buy as long as it trades above 79 while on the higher side one can expect a rally above 80.10," said Dilip Parmar, Research Analyst, HDFC Securities.
India's external debt rose 8.2% in 2021-22 to $620 billion
Out of this, 53.2 per cent of external debt was denominated in US dollars, the Indian rupee denominated debt was estimated at 31.2 per cent and was the second largest, according to the status report on India's external debt 2021-22, released by the Finance Ministry on Monday.
NTT DATA Payment Services gets RBI nod for payment aggregator license
"This significant development also brings us closer to our vision, that is, to develop NTT DATA Payment Services India as one of the top three payment service providers in the country through better services and superior products," said Dewang Neralla, CEO of NTT DATA Payment Services.
Don't Miss
Advertisement