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Gold Loses Shine as Investors Eye Interest Rate Decisions

Gold prices tumbled on Monday, March 18th, as investor focus shifted towards the upcoming Federal Reserve meeting later this week. Both spot gold, traded physically, and gold futures contracts, reflecting anticipated future prices, experienced declines. The primary factor behind the gold price drop was a strengthening US dollar. In the lead-up to the Federal Reserve policy meeting, the dollar firmed up against other major currencies. This is […]

Supreme Court deals another blow to govt, SBI in electoral bond case

In another serious setback to the Modi government and the State Bank of India (SBI) management, the Supreme Court today directed the SBI to disclose all possible details it possesses concerning electoral bonds. This includes the crucial alphanumeric codes assigned to each bond, which would enable tracing the origin of the funds and the political […]

The post Supreme Court deals another blow to govt, SBI in electoral bond case first appeared on Latest India news, analysis and reports on IPA Newspack.

Mudrex Offers Indian Investors Access to US Bitcoin ETFs

Mudrex, a cryptocurrency investment platform backed by Y Combinator, has become the first Indian platform to offer US Bitcoin Spot Exchange-Traded Funds (ETFs) to domestic investors. This launch caters to the growing demand for Bitcoin exposure among Indian investors, providing a new avenue for participation in the cryptocurrency market. Mudrex’s announcement comes amid a period of increasing interest in cryptocurrencies in India. While the regulatory landscape surrounding […]

Bidenomics is all about fiscal largesse

Matein Khalid The spectacular bull market that resumed in mid-October has continued into the first 9-weeks of 2024. True, Nvidia at 919, Meta at 500 and Microsoft at 415 have all been catapulted from Wall Street to Valhalla (the abode of the Nordic Gods!) but Apple is down 14% in 2024 at 172 and Tesla at 177 are not exactly looking all that hot as they did […]

IT Services Industry Grapples with Cybersecurity After Infosys McCamish Attack

A late 2023 ransomware attack on Infosys McCamish Systems, a subsidiary of Indian IT giant Infosys, sent ripples of concern through the financial services sector in the United States. Infosys McCamish specializes in retirement and investment management, making them a critical partner for major institutions like Bank of America, Fidelity Investments, and TIAA. The attack disrupted services and potentially compromised sensitive client data, raising serious questions about […]

Delta Dunia Group Drives Net Profit of USD 36 million for FY2023; 26% increase from previous year

Corporate diversification and transformation strategy successfully yielding results, delivering sustained financial performance that surpassed guidance. Revenue increased 18% YoY, hitting a record high of USD 1.8 billion for FY2023. Strong underlying performance with EBITDA at USD 412 million for FY2023, a 13% increase YoY. Strong performance attributed to contract wins, record coal production, proactive cost management strategies and increased diversification to metallurgical coal which now contributes 19% […]

Blossoming plum adds tourism charm to west China’s Wushan County

WUSHAN, CHINA – Media OutReach Newswire – 14 March 2024 – A picturesque view is unfolding in Wushan County, a scenic city along the Yangtze River in west China’s Chongqing Municipality. The sixth Three Gorges (Wushan) Plum Flower Festival of the Yangtze River opened on March 12, which seeks to enhance the Three Gorges’ appeal to tourists with the refreshing blossoms. A B&B courtyard with blossoming plum […]

Gulf sovereign wealth funds flexing their muscles

Arabian Post Special The sands of the Middle East are shifting, not just geopolitically, but financially as well. The region, long known for its vast oil reserves, is witnessing a new kind of power emerge – the growing influence of sovereign wealth funds (SWFs). These state-owned investment vehicles, fuelled by hydrocarbon wealth, are transforming the Middle East into a significant player on the global investment scene, potentially […]

Saudi Banks Fuel Economic Shift with Historic Bond Issuance

Saudi Arabian banks are on track to break new ground in debt issuance to fund the country’s ambitious economic diversification plans. Analysts at Bloomberg Intelligence predict lenders will need to raise at least $11.5 billion through local and international bonds. This record-breaking borrowing spree is critical for financing Vision 2030, a strategic roadmap to transform Saudi Arabia from an oil-dependent economy into a diversified powerhouse. The impetus […]

VinFast announces partnership with first distributor in Africa

HANOI, VIETNAM – Media OutReach Newswire – 15 March 2024 – VinFast Auto (Nasdaq: VFS) has signed a distribution agreement with Jospong Group of Companies, Ghana’s leading multi-industry conglomerate, in Ghana and West African market. This deal marks the Vietnamese electric vehicle pioneer’s initial foray into the African market, solidifying its position as a frontrunner in the global shift towards sustainable transportation. Under this agreement, Jospong will […]

Small companies that brought big chunks of electoral bonds

Megha Engineering has gone viral on social media since the Election Commission revealed that the company was among the biggest donors to political parties in the last 5 years. Data released by the poll panel showed that the company donated Rs 966 crore through electoral bonds between April 12, 2019, and January 24, 2024. A […]

The post Small companies that brought big chunks of electoral bonds first appeared on Latest India news, analysis and reports on IPA Newspack.

Easing on the Horizon: India’s Monetary Policy Shift

A recent report by Citigroup suggests that India’s monetary policy might be on the verge of a shift towards easing. This comes on the back of improving liquidity conditions in the banking system. According to the report, a key indicator, the weighted average call money rate – the rate at which banks lend to each other overnight – has been inching closer to the repo rate, the […]

Biden may not have enough rope to push his vision of the Middle East

James M Dorsey This year’s US presidential elections are not the only potential hurdle confronting President Joe Biden’s multi-pronged vision for a Middle East peace once the Gaza war ends. So is Israeli intransigence, the prospect of a long-term insurgency in post-war Gaza, and increasing Saudi Chinese technological cooperation. The Biden administration is pushing for a multi-pronged comprehensive Middle East deal that would not only end the […]

Oil Surges on Upbeat Demand Forecast

Oil prices surged on Thursday, reaching their highest level in four months, after the International Energy Agency (IEA) revised its outlook for the global oil market. The upward revision suggests a tighter market in 2024, driven by stronger-than-expected demand growth. Brent crude oil futures for May delivery closed at $85.42 per barrel, a 1.7% increase from the previous day. This marks the highest closing price since early […]

Modi Government’s Election-Eve Manoeuvres Smell To Kingdom Come

Prince Holding Group Hosts NUS Students for Global Industry Insights Program in Cambodia

PHNOM PENH, CAMBODIA – Media OutReach Newswire – 15 March 2024 – Prince Holding Group, one of Cambodia’s leading business groups, recently hosted students from the National University of Singapore (NUS) as part of the NUS Global Industry Insights (GII) program. This initiative aims to bridge academic learning with industry practice by immersing students in Cambodia’s vibrant economy, offering a mix of theoretical and practical insights. Students […]

Supreme Court orders SBI to disclose more bond details

The Supreme Court on Friday (March 15) categorically stated that the State Bank of India (SBI) has to disclose electoral bonds numbers as well, in addition to the details it has already disclosed regarding the purchase and redemption of the bonds. In the latest development in the court-mandated disclosure process concerning electoral bonds details, a […]

The post Supreme Court orders SBI to disclose more bond details first appeared on Latest India news, analysis and reports on IPA Newspack.

Fortune Launches First Innovation Forum in Hong Kong March 27- 28

All new annual conference on critical issues in tech, finance, talent and energy, with a spotlight on Asia and convening industry leaders and investors from some of the world’s most dynamic companies Over 60 speakers, including top executives from Google, Amazon, Intel, Nike, Rakuten, Walmart, Cathay Pacific, Dow, Medtronic and more Summit kicks off with special Fortune Most Powerful Women networking program featuring top female leaders from […]

Hong Kong Pushes Forward with Digital Currency Experiment

The Hong Kong Monetary Authority (HKMA) announced today the commencement of the second phase of its pilot program for a central bank digital currency (CBDC), dubbed the e-HKD. This latest stage aims to explore innovative applications for the digital Hong Kong dollar and delve deeper into promising areas identified during the initial phase. Launched in May 2023, the first phase of the e-HKD pilot program examined the […]

Amit Shah asks Rahul to explain his opposition to CAA

Union Home Minister Amit Shah has dismissed former Congress president Rahul Gandhi and his party’s criticism of the Citizenship Amendment Act, rules of which were notified this week. In the interview with ANI, the Union Minister challenged the Congress leader to appear on a public platform and put forth the case of his party on […]

The post Amit Shah asks Rahul to explain his opposition to CAA first appeared on Latest India news, analysis and reports on IPA Newspack.

Kaplan Singapore Opens New City Campus Offering Tech-Driven, Collaborative Learning Experience

Kaplan City Campus at Odeon 331 equipped with state-of-the-art technology and innovative features SINGAPORE – Media OutReach Newswire – 14 March 2024 – On 22 February, Kaplan Singapore [1] (Kaplan) launched its new Kaplan City Campus at Odeon 331 [2]. The Campus has been designed to create a collaborative and interactive learning and teaching environment for students, with state-of-the-art technology, innovative features and a modern look. The […]

UAE Banks See Brighter Future as Economy Gains Momentum

Credit rating agency Moody’s Investors Service (Moody’s) upgraded its outlook for the United Arab Emirates’ (UAE) banking sector to “positive” from “stable,” citing the country’s robust economic growth projections. This move indicates Moody’s belief that UAE banks are well-positioned to benefit from the improving economic climate. The positive outlook reflects Moody’s expectation of continued non-oil economic expansion in the UAE. The agency forecasts real non-oil Gross Domestic […]

Swedish Central Bank Chief Seeks to Curb Bitcoin’s Influence

Erik Thedeen, governor of Sweden’s central bank, the Riksbank, has made his concerns about Bitcoin clear, calling for its limited involvement in the country’s financial system. Thedeen expressed his reservations during a parliamentary hearing on monetary policy, citing the cryptocurrency’s volatile nature and potential to expose consumers to financial risks. “I want as little Bitcoin as possible in the Swedish financial system,” Thedeen told reporters after the […]

Feds Seize $1.4 Million in Crypto Linked to Elder Abuse Scam

U.S. authorities announced the recovery of $1.4 million worth of Tether (USDT) cryptocurrency on March 12th. The funds are suspected to be proceeds from a fraudulent customer support scheme that preyed on elderly victims. The operation, a joint effort by the Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI), targeted unhosted cryptocurrency wallets allegedly used by the scammers. According to a press release from […]