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By Prabhat Patnaik The BJP-led government has just got parliament to pass a legislation permitting up to 100 percent foreign equity-ownership in India’s insurance sector. This, the Prime Minister has announced, marks the beginning of a major “reform” in India’s financial sector, towards presumably much greater private, including foreign, ownership of financial institutions. This would […]

The article Pushing The Financial System Towards A Dangerous Direction appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Venezuela has begun shutting oil wells in its prolific Orinoco Belt after storage filled up and inventories swelled, a move that underscores the operational strain facing the state producer as financial pressure from Washington tightens. The cutbacks, which started on 28 December, are set to lower heavy crude output by at least a quarter in the belt that holds the world’s largest known oil deposits, according to people familiar with internal operations.

Petroleos de Venezuela SA, known as PDVSA, is aiming to bring Orinoco production down to about 500,000 barrels a day, the people said. That reduction equates to roughly 15% of the country’s total output of around 1.1 million barrels a day. The wells were idled as tanks reached capacity and export bottlenecks left little room to keep pumping.

The Orinoco Belt, stretching across eastern Venezuela, has been the backbone of the nation’s oil recovery over the past two years as PDVSA revived projects, leaned on foreign partners and relied on intermediaries to place barrels abroad. Heavy crude from the belt requires blending and specialised handling, making storage constraints particularly acute when exports slow or logistics falter.

The curtailment comes amid a renewed effort by the Donald Trump administration to financially squeeze Caracas. Measures have focused on limiting cash flows and tightening scrutiny of trade channels that had allowed Venezuelan oil to reach global markets. While PDVSA has navigated sanctions for years through complex trading arrangements, the latest actions have reduced the room for manoeuvre.

Operationally, the impact is immediate. Engineers have prioritised shutting wells with higher water cut or maintenance needs, while keeping strategic upgraders running to preserve reservoir integrity. Restarting heavy-oil wells can be costly and time-consuming, raising the risk that some output may not return quickly even if conditions improve.

For the government in Caracas, the setback dents a fragile rebound that had lifted production from historic lows. Oil remains the main source of hard currency, funding imports and social spending. Lower volumes threaten fiscal plans at a time when inflation has moderated but public finances remain stretched.

Internationally, the cuts add a layer of uncertainty to heavy crude markets. Refineries in Asia and the United States Gulf Coast have relied on Venezuelan grades as substitutes for similar barrels from elsewhere. Traders said tighter availability could widen discounts and prompt buyers to seek alternatives from Canada or the Middle East.

PDVSA’s partners in the Orinoco Belt, including joint ventures with foreign companies, are also affected. Output reductions translate into lower liftings for partners and could complicate investment decisions. Several projects had been ramping up after maintenance and drilling campaigns, betting on stable export routes.

The government has framed the situation as a temporary adjustment driven by logistics rather than geology. Officials argue that reserves remain intact and that production can rebound once storage is freed and exports normalise. Behind the scenes, PDVSA has been exploring options to lease additional floating storage and accelerate shipments to Asia, though payment and insurance hurdles persist.

Analysts note that the episode highlights structural weaknesses. Venezuela’s oil infrastructure has suffered years of underinvestment, leaving little buffer when trade flows are disrupted. Power outages, pipeline leaks and equipment shortages have repeatedly constrained operations, forcing stop-start cycles that erode efficiency.

In the broader geopolitical context, the pressure campaign reflects Washington’s leverage over energy finance and shipping. Even when licences allow limited trade, banks, insurers and carriers often tread cautiously, amplifying the impact on producers like PDVSA. The result is a stopgap approach that prioritises managing bottlenecks over long-term optimisation.

By Dr Arun Mitra The new nuclear bill, titled Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI), passed by Parliament, has received the assent of the President of India, Droupadi Murmu. With this, it has become an Act governing various aspects of nuclear energy in the country. There is a strong push […]

The article The New Nuclear Bill Severely Compromises India’s National Interests appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nantoo Banerjee US President Donald Trump may have problems with Russia, Venezuela and a host of other states and has every right to decide on the US trade and diplomatic policies to deal with those countries. But he has no right to thrust upon other free nations his likes, dislikes and prejudices. Unfortunately, he […]

The article Trump Has Become A Threat To Free Trade appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nitya Chakraborty Something incredible is happening in Beijing as also in other cities of China in the last five days. The cinema halls showing the American animation film “Zootopia 2” produced by the famous Disney studio are full and the Chinese cine lovers who have not yet seen the film are going mad online […]

The article How A Disney Studio Animation Film “Zootopia 2” Is Boosting China-US Trade Agenda? appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

• DAICS^® coin coverage: As of 3^rd December, the top 50 coins by average market capitalization across the past 90 days
• DAICS^® market capitalization coverage: 96.98%*
• The % coverage of market capitalization of the 50th ranked coin: 0.048%**
• Member changes within the Top 50 Coins in DAICS^®: eight coins added and nine coins deleted
• Additions: Zcash (ZEC), World Liberty Financial USD (WUSD), PayPalUSD (PYUSD), Memecore (M), Worldcoin (WLD), Story (IP), Arbitrum (ARB), KuCoin (KCS)
• Deletions: Mantra (OM), GateToken (GT), Official Trump (TRUMP), VeChain (VET), Render (RENDER), First Digital USD (FDUSD), Filecoin (FIL), Cosmos (ATOM), Algorand (ALGO)
• 9 Green Coins labelled: Cronos (CRO), Pi (PI), Internet Computer (ICP), Hedera, Sui (SUI), Toncoin (TON), Arbitrum (ARB), Mantle (MNT), Tron (TRX)

Note:
*Special currency treatment of DAICS^® applies, where any wrapped or second-level cryptocurrency is not considered in the calculation for the market capitalization of DAICS^®
**Based on 3rd December 2025
G: Green Coin

The rankings of additions and deletions for the DAICS^® top 50 cryptocurrencies are listed in Appendix 1. All classification changes, including the ixCrypto Infrastructure Index and ixCrypto Stablecoin index, will take effect on 23^rd January 2026, with market capitalization, rankings, and weightings available at www.ix-index.com.

1. Cryptocurrencies

1.1. Structure and Definitions

Tier 1: Industry Changes
The industry groups remain unchanged, with 5 industries and the respective weightings as follows:

Tier 2: Sector Changes
The number of sectors has increased from 17 to 18. There is one new sector added under the industry group “Tech & Data (140)”:

Identification (14040)
Definition: Cryptocurrencies that facilitate decentralized identity authentication and/or blockchain-based validation of digital intellectual property rights. The classification emphasizes trust, data consent, and privacy as core architectural features while the crypto by itself is not an identity token.

1.2. Reclassification Changes
This review doesn’t have any reclassification of the existing coins. The DAICS® 2H 2025 cryptocurrencies classification is available in Appendix 2.

1.3. Green Coin Label
This review identifies 9 Green Coins, classified based on their energy-per-unit-transaction, which is defined as the amount of energy consumed for a successful single unit transaction of the coin in the blockchain network. The coins selected rank in the top 20 percentile of the least energy-consuming cryptocurrencies out of the 50 DAICS^® constituents. The top 20 percentile’s threshold in this review is ≤ 0.150 Wh. The table below lists these low-energy coins.

Note: G as ‘Green Coin‘ labelling for cryptocurrencies that adhere to the principles of sustainability

2. Asset Backed Tokens (ABT)

2.1. Structure and Definitions

Tier 1: Asset Type Changes
The asset types remain unchanged at 6 as follows:
1) Culture (205),
2) Real Estate (215),
3) Financials (235),
4) Entertainment (255),
5) Natural Resources (265), and
6) Green Economy (275)

Tier 2: Branch Changes
The number of branches has increased from 31 to 32, with a new branch added under Financials (235): Tokenized funds (23540).

2.2. Classification Changes
This review doesn’t have any reclassification of the existing assets.

2.3. Coverage of DAICS^®
A classification summary and definition table of both cryptocurrencies and ABTs are available in Appendices 3 and 4. For further information regarding the methodology of the DAICS^®, please refer to the “IX Digital Asset Industry Classification System”- principle and guiding methodology on the company website https://ix-index.com/daics.html.

For more details on DAICS^® qualification criteria, please email daics@ixindex.com.

Appendix 1

G: Green Coin

Appendix 2

Note:
G as ‘Green Coin‘ for cryptocurrencies that adhere to the principles of sustainability
NEW for newly added sector

Appendix 3

Note: NEW for newly added sector

Appendix 4

Note: NEW for newly added branch

² United Nations 17 sustainable development goals covering 1) No Poverty 2) Zero Hunger 3) Good Health and Well-Being 4) Quality Education 5) Gender Equality 6) Clean Water and Sanitation 7) Affordable And Clean Energy 8) Decent Work and Economic Growth 9) Industry, Innovation and Infrastructure 10) Reduced inequalities 11) Sustainable Cities and Communities 12) Responsible Consumption and Production 13) Climate Action 14) Life Below Water 15) Life on Land 16) Peace, Justice and Strong Institutions and 17) Partnerships for the Goals https://sdgs.un.org/goals

The issuer is solely responsible for the content of this announcement.

About DAICS®

DAICS^® covers both cryptocurrencies and asset-backed tokens (“ABTs”), to be reviewed semi-annually at the end of June and December. On the cryptocurrency side, it is a three-tier system that groups cryptocurrencies into 5 main industries: 1) Payment, 2) Infrastructure, 3) Financial services, 4) Technology & Data, and 5) Media & Entertainment. These industries are further divided into sectors and sub-sectors to be introduced in the future. Under asset-backed tokens, there are 6 asset types: 1) Culture, 2) Real Estate, 3) Financials, 4) Entertainment, 5) Natural Resources, 6) Green Economy. These asset types are further divided into branches and sub-branches to be introduced in the future.

About the IX Asia Tokenization Advisory Committee and Working Group

The establishment of the IX Asia Tokenization Advisory Committee (“Advisory Committee”) is to pursue the goal and vision of formulating a standard for a global tokenization framework in a compliant and transparent way. The key role of the Advisory Committee is to formulate the guidelines and references for tokenization in terms of infrastructure, business, financial stability, sustainability, internal control, and classification. The Advisory Committee is comprised of industry-recognised leaders from blockchain consultancy, sustainable projects, and the field of the Art industry.

The establishment of the Working Group is to identify, evaluate and recommend key directions and founding principles according to their specific industry knowledge and expertise in relating to the creation of the specified token. It will examine and propose improvements to the guidelines and references for tokenization. The working group is formed of a diverse group of market experts representing relevant sectors and markets, to provide input and discuss case studies for creation of tokenization framework, best practices and development of real-world projects.

For more information about IX Asia Tokenization Advisory Committee & Working Group, please visit https://ix-index.com/tokenization-committee.html.

By K Raveendran Oil prices slipping below $60 a barrel for the first time since February 2021 and a sharp easing in European gas prices mark more than a cyclical downturn in commodities. They signal a rapid repricing of geopolitical risk at a moment when diplomacy, rather than escalation, has begun to dominate market psychology. […]

The article Energy Markets Recalibrate As Geopolitics Reshapes Supply Calculus appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).