NATIONAL SPOT EXCHANGE
Gas needs a new pricing meter
What could future policy look like? Pricing policy needs to be simplified and streamlined with global norms. Ensuring linkage to rolling averages of global benchmarks like Brent or other global benchmarks, along the C Rangarajan committee recommendations, would sustain the balance between consumers and producers. This should be implemented alongside more uniform gas pricing. One price could be benchmarked for LNG imports, another for domestically produced gas from regular fields, and one higher price for more difficult fields like ultra-deep and high-temperature high-pressure fields.
Silver continues to glitter, hits lifetime high of Rs 97,100 per kg
Silver prices hit a lifetime high levels of Rs 97,100 in the local market on Wednesday, while gold prices rose Rs 250 in line with strong trends in the overseas markets, according to HDFC Securities.
Cryptoverse: Miners trudge through post-halving world
Bitcoin miners face challenges with halved mining rewards, increased difficulty, and competition from ETFs. Marathon Digital and Riot Platforms have seen stock drops amid bitcoin's price surge.
Bitcoin falls 3% as traders mull risk of sales linked to Mt. Gox
Bitcoin fell as traders monitored transfers by wallets belonging to the failed Mt. Gox exchange, whose administrators are returning a $9 billion hoard of the largest digital asset to creditors.
Dollar hovers near highest in a week after hawkish Fed minutes
Ether continued to hover near Tuesday's more than two-month peak amid speculation over the potential approval of U.S. spot exchange-traded funds that would track the world's second-biggest cryptocurrency.
Gold prices hold steady on Fed rate outlook
Gold prices were steady on Wednesday and hovered above key $2,400 level touched earlier this week, supported by safe-haven buying and the prospect of interest rate cuts from the U.S. Federal Reserve later this year.
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States & online gaming regulations; banks tap startups to foil frauds
Happy Monday! In the absence of central government’s self-regulatory mechanisms, states are framing laws for online real money gaming. This and more in today's ETtech Morning Dispatch.
Asia's first spot bitcoin, ether ETFs start trading in Hong Kong
Hong Kong's pioneering crypto ETFs on the city's bourse include six funds issued by three managers -- Bosera Funds, China Asset Management (Hong Kong) Limited and Harvest Global Investments.
SAIL, IRFC among 46 stocks with double digit returns this week. SPARC, 82 others deliver negative returns
Notwithstanding high volatility over the week, the BSE 500 index outperformed the headline BSE S&P Sensex with the latter gaining 0.90% (642 points) on a weekly basis.
Money Mule Scam, a new fraud: How to spot and safeguard your money from fraudsters
Digital banking frauds: Mule Accounts are being used to launder money and what's worst is that legitimate Indians are lending their bank accounts and others for some incentive and helping in furthering this type of fraud. According to BioCatch, a Israeli company, Bhubaneswar has the largest concentration of this type of activity.
S&P 500 ends slightly higher as markets brace for inflation data, earnings
Wednesday's hotly anticipated Consumer Price Index (CPI) is at the top of most investors' minds as they tweak expectations on the timing and extent of the Federal Reserve's rate-cutting phase, following robust economic data such as last Friday's blockbuster employment report.
India's FX derivatives market faces crushing blow
A new rule set to take effect on April 5 is expected to force out most of the market’s most active players, drying up volumes that reached $5 billion-a-day.
US charges KuCoin crypto exchange with anti-money laundering failures
Prosecutors said the Seychelles-based exchange sought business from U.S. customers without registering with the Treasury Department and putting in place procedures to verify clients' identities as required by US law.
Gold ekes out gains in a tumultuous week
The metal fell to close around 0.80% lower on Friday as the US dollar rallied. The 10-year US yields at 4.21% were down over 2% on the week as the yields were 1.57% lower on Friday.
Returning as President, Putin says he agreed for prisoner exchange involving Navalny before his death
Putin's election win marked by Navalny's death controversy. Global leaders condemn Navalny's demise, pointing fingers at Putin. Navalny's widow vows to continue his fight for a free Russia, accusing Putin of her husband's death.
Budget 2024: Finding the sweet spot for VDA tax
The Indian government introduced taxation on VDAs during the Union Budget 2022. It brought much-needed clarity to investors and the industry alike. For the first time, the government defined VDAs, introduced a TDS on the sale and transfer of VDAs, and specified how and at what rate the gains from VDA transactions would be taxed.
NSEL case: Sebi cancels registration of Nirmal Bang Commodities
Capital markets regulator Sebi on Wednesday cancelled the registration of brokerage house Nirmal Bang Commodities for facilitating its clients to trade in illegal 'paired contracts' on the now defunct National Spot Exchange Ltd.
NSE, MFs in a spot after Morningstar Sustainalytics' exit
In March 2018, NSE launched two indices - Nifty100 ESG Index and Nifty100 Enhanced ESG Index - to capture the environmental and social governance scores of Nifty 100 companies. The companies on these two indices were assessed annually by the ratings provided by Sustainalytics.
National Spot Exchange's e-Gold: 5 things to know
Investors who like to buy gold can now do so electronically using the trading platform of the National Spot Exchange Limited (NSEL).
US natgas prices edge up to fresh 8-month high on rising exports
Front-month gas futures for November delivery on the New York Mercantile Exchange rose 2.7 cents, or 0.8%, to $3.403 per million British thermal units (mmBtu) at 8:47 a.m. EDT, putting the contract on track for its highest close since Jan. 23 for a third day in a row
Federal budget, Senate crackdown may overshadow crypto lobby's push for industry-friendly laws
Dozens of executives from digital asset companies are meeting with lawmakers and their staff on Wednesday as part of a grassroots advocacy campaign organized by Coinbase, the biggest US crypto exchange, and Stand With Crypto, a non-profit it founded.
Sebi cancels registration of MMTC in NSEL case
In case a client fails to do so, the broker will transfer the funds and securities of such clients to another registered broker in the next 15 days under advice to the said clients, Sebi said in its order on Wednesday.
Affidavit filed before Bombay High Court contesting trial court decision in NSEL scam case
The EOW has contended that in the last ten years they have filed 11 chargesheets in the case against 220 accused who are companies, its concerned directors, employees, individuals etc and those who have been left out were for the want of evidence. They further argued that merely being signatory or owning shares does not prove criminal charges, “ as there is no mens rea or common intention for conspiracy”.
Financial firms line up spot bitcoin exchange-traded fund applications
Financial firms are once again lining up to attempt to get their proposed spot bitcoin exchange-traded-funds approved by the U.S. securities regulator after BlackRock this month unveiled it was looking to launch such a product.
Sebi cancels registration of Bharat Bhushan Finance and Commodity Brokers in NSEL case
The Securities and Exchange Board of India (SEBI) has cancelled the registration of Bharat Bhushan Finance and Commodity Brokers and asked them to let existing clients withdraw or transfer funds within 15 days, after it participated in unauthorised paired contracts on the defunct National Spot Exchange Ltd (NSEL). The regulator has also barred Capital Gain Research's proprietor Ruchit Gupta from the securities market for six months and asked him to refund investors' money collected through unauthorised investment advisory services within three months
Social stock exchange to boost investability of social impact projects
This will accelerate development and create the desired impact at the bottom of the pyramid. SSE will pave the way for building values through social development and enhanced SDG preparedness.
NSEL scam: Sebi bans 5 commodity brokers for up to 6 months
In 2019, Sebi had rejected the registration application submitted by these brokers on the grounds that they had failed to satisfy the 'fit and proper person' criteria. Following the Sebi order, these brokers moved the Securities Appellate Tribunal (SAT), which set aside the Sebi order and remanded the matter back to Sebi for fresh consideration.
SAT sets aside Sebi order on brokers in NSEL case
The case pertains to the beleaguered commodity exchange National Spot Exchange (NSEL) and the five brokerages — IIFL Commodities, Geofin Comtrade, Anand Rathi Commodities, Phillip Commodities India and Motilal Oswal Commodities Broker.
NSEL scam in Mumbai: 95% of small investors get money back
The city police, probing the Rs 5,400-crore National Spot Exchange Limited (NSEL) cheating case, have till date auctioned over a dozen properties of the accused and reimbursed Rs 731 crore to investors.
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