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Crypto Markets Need More Scrutiny From SEC, Investor Groups Say
by Suvayan Sen Gupta / 06:00 pm 21 Sep 2021 Tuesday

Investor advocacy groups urged SEC chair Gary Gensler to more tightly regulate the cryptocurrency industry in a letter on Monday.The letter signed by Americans for Financial Reform Education Fund, the Consumer Federation of America and others, specified stablecoins, crypto lending and exchanges as key areas in need of more regulation.”Without significant regulatory guidance, the digital asset marketplace has been born and grown into a Wild West".

Binance to End Crypto Derivatives in Australia by December
by Suvayan Sen Gupta / 05:30 pm 21 Sep 2021 Tuesday

Binance is ending its derivatives offerings to Australian crypto traders by the end of this year.Existing users have 90 days to reduce and close their positions on options, futures, and leveraged tokens. After Dec. 23, users will no longer be able to manually reduce their positions and all remaining open positions will be closed, the exchange said Tuesday.The move follows last month’s restrictions on options, margin products, and leveraged tokens where

SoftBank leads $680 million funding round in NFT fantasy soccer game Sorare
by Suvayan Sen Gupta / 05:00 pm 21 Sep 2021 Tuesday

Blockchain-based fantasy soccer game Sorare has raised $680 million in a funding round led by SoftBank, with players including ex-England international Rio Ferdinand and Spain’s Gerard Pique also investing, the company said on Tuesday.Paris-based Sorare said the investment valued the company at $4.3 billion.Sorare is an online game where players buy officially licensed cards representing soccer players and build teams which play against each other, with the outcome based on the

KEC International buys Gujarat company for oil & gas projects
by Suvayan Sen Gupta / 04:30 pm 21 Sep 2021 Tuesday

RPG Enterprises' flagship infrastructure company, KEC NSE 3.43 % International, has diversified into engineering and construction for the oil and gas sector with an acquisition and a key appointment of a senior executive, and has ambitions of bagging big-ticket orders in future, its chief executive told ET. On Saturday, KEC announced the acquisition of Gujarat-based Spur Infrastructure at an enterprise value of ₹62 crore.

Sebi bars Abhijit Pawar over insider trading allegations
by Suvayan Sen Gupta / 04:00 pm 21 Sep 2021 Tuesday

India's capital-markets regulator has barred Abhijit Pawar, nephew of Nationalist Congress Party chief Sharad Pawar, from dealing in securities for an alleged breach of insider-trading rules involving the stock of the erstwhile Magma Fincorp. The Securities and Exchange Board of India (Sebi), in its interim order passed on September 15, has also impounded the bank accounts of Abhijit Pawar, MD of the Sakal Media Group.

Paras Defence raises Rs 51 cr from anchor investors ahead of IPO
by Suvayan Sen Gupta / 03:00 pm 21 Sep 2021 Tuesday

Paras Defence and Space Technologies on Monday said it has garnered a little over Rs 51 crore from anchor investors, ahead of its initial public offering (IPO) from Tuesday. The company has allotted 29,27,485 equity shares to anchor investors at Rs 175 apiece, valuing the transaction at Rs 51.23 crore, according to a circular uploaded on the BSE website.

France's OVHcloud aims to raise $470 million in Paris IPO
by Suvayan Sen Gupta / 02:30 pm 21 Sep 2021 Tuesday

French cloud computing services firm OVHcloud aims to raise 400 million euros ($469 million) by selling new shares in an initial public offering (IPO) in Paris, it said on Monday. Releasing its IPO registration document, the company said it hoped the flotation would accelerate its growth - consolidating its leading position in Europe while helping it to continue expanding in North America and Asia.

New IPOs to help add $400 bn to m-cap in three years : Goldman Sachs
by Suvayan Sen Gupta / 02:00 pm 21 Sep 2021 Tuesday

New initial public offerings (IPOs) will help add $400 billion to the overall market capitalisation over the next three years, an American brokerage said on Monday. The estimate comes on the back of a surge in IPO activity in the last few months, which has seen companies raise $10 billion from public markets since the beginning of the year higher than the money raised in the three years prior to that,

Super App: Tata group bullish on predictive healthcare, teleconsultation
by Suvayan Sen Gupta / 01:30 pm 21 Sep 2021 Tuesday

With the ambition of launching a Super App, the Tata group is betting big on the healthcare segment through Tata Health, which provides teleconsultation services and, in the future, aims to predict non-communicable diseases before onset for its users. Tata has acquired majority stake in online pharmacy 1mg, which has been integrated as a pharmacy partner on the Tata Health application.

Petronas to focus on India for clean energy
by Suvayan Sen Gupta / 01:00 pm 21 Sep 2021 Tuesday

Despite a failed attempt at finding a suitable partner, Malaysia's state-owned Petroliam Nasional Berhad (Petronas) will look at India to form a "substantial" part of its 3 gigawatt (GW) renewable energy target, a top executive said. The oil and gas giant said it will be looking at traditional renewable energy projects such as wind and solar, but will also venture into other sustainable initiatives to further expand presence in green technologies.

Unsure if demand will stay, inflation a concern for 2022: Nestle India chairman Suresh Narayanan
by Suvayan Sen Gupta / 12:30 pm 21 Sep 2021 Tuesday

Demand trends are still indicating mixed signals about the next few quarters, and it is difficult to say that sustained consumption is here to stay, Nestle India chairman Suresh Narayanan said. "We have to wait for a few more quarters to see if the demand is sustainable and that it's not the last few vestiges of pent-up demand," Narayanan said in an interview. However, there is a "strong expectation" that this

RIL may need to spend 25% more on subsidy of JioPhone Next
by Suvayan Sen Gupta / 12:02 pm 21 Sep 2021 Tuesday

Reliance Industries may need to spend about ₹3,750 crore or 25% more on subsidies than that estimated earlier if it plans to price its upcoming budget 4G smartphone, JioPhone Next, at about ₹4,000 apiece, said analysts, pointing to the global shortage and consequently higher prices of semiconductors and other components. Jio is known to be targeting a 500 million user base - from about 425 million now - as it expects

Amazon vows ‘zero tolerance’ for graft after India probe report
by Suvayan Sen Gupta / 12:02 pm 21 Sep 2021 Tuesday Inc. stressed it has zero tolerance for graft and will investigate all allegations of corruption fully, responding to a report by an Indian news outlet that the U.S. e-commerce giant has begun an internal investigation into claims of bribery.

Ease of doing business has helped create more startups: Commerce and Industry Minister Piyush Goyal
by Suvayan Sen Gupta / 05:30 pm 20 Sep 2021 Monday

Simplification, facilitation and ease of doing business has helped India create more startups, Commerce and Industry Minister Piyush Goyal said on Sunday.“India has been able to create the third largest startup ecosystem in the world since its launch. This has been possible by the government’s focus on reforms like simplification, facilitation and ease of doing business,” he said.

Crypto craze catches on in small cities
by Suvayan Sen Gupta / 05:00 pm 20 Sep 2021 Monday

Crypto exchanges are now recording more growth from smaller cities than metros, as per data from top exchanges. Riding on the trend, cryptocurrency exchanges have also actively targeted a new breed of professionals residing in smaller cities with new schemes and fresh products. Other exchanges too have recorded similar trends with most of the new cryptocurrency investors coming from cities such as Lucknow, Ahmedabad, Patna, Bhopal, Vadodara and Kolkata.

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