India’s government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money, parliament said in a shock announcement late Tuesday. The proposed bill “seeks to prohibit all private cryptocurrencies in India”, the Lok Sabha said, and comes after Prime Minister Narendra Modi warned last week that Bitcoin […]
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SYDNEY (Reuters) – Asian stocks made a soft start to the week on Monday while oil and the euro were under pressure, as the return of COVID-19 restrictions in Europe and talk about hastened tapering from the US Federal Reserve put investors on guard. Oil futures skidded about 1% at the open, sending Brent crude […]
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ISLAMABAD: The Central Power Purchasing Agency (CPPA) on Monday has sought Rs4.75 per unit hike in the power tariff in an application to the National Electric Power Regulatory Authority (NEPRA). The application has been submitted to the National Electric Power Regulatory Authority for adjustment of the power tariff with the fuel price in October. The […]
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TOKYO (Reuters) – Oil prices fell on Thursday, adding to an overnight plunge as China said it was moving to release reserves following a Reuters report that the United States was asking big crude consumers to consider a coordinated release of stocks to lower prices.The bid by the US administration to shock markets comes as […]
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KARACHI: The local bullion market has on Wednesday seen gold prices sliding as much as Rs3000 per tola reaching Rs122,000 since its close yesterday during the week, ARY News reported. Similarly another benchmark unit of gold, 10-gram, has shed about Rs2,572 in the market which is now available at Rs104,595 today around the market close.It […]
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KARACHI: The Pakistan stocks rebounded on Tuesday, as the rupee finally managed to recover against the dollar after an entire week of losses coupled with an absence of uncertainty on the political front, dealers said.Ahsan Mehanti at Arif Habib Corporation said that the stocks showed sharp recovery led by scrips across-the-board on robust data on […]
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RIYADH: The Central Bank of the UAE (CBUAE) will launch a new index for overnight funding transactions denominated in UAE Dirham in December, Arab News reported. Donia aims at providing market participants with interbank market data, and to improve transparency in domestic money market activities,as a part of the new Dirham Monetary Framework implementation plan. […]
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KARACHI: The inflow of workers’ remittances has increased 12 per cent to $10.6 billion during the first four months (July–October) of the current fiscal year 2021/22, the State Bank of Pakistan (SBP) said on Sunday.The inflow of workers’ remittances was $9.42 billion in the first four months of the fiscal year 2020/21. The central bank […]
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SYDNEY (Reuters) – Bitcoin rose to a two-and-a-half-week peak on Monday and ether climbed to a fresh record as cryptocurrencies ride higher on a wave of momentum, flows, favourable news and inflation fears.Bitcoin was last up about 3% at $65,121 and ether , which underpins the ethereum network, sat at a record top of $4,711. […]
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1. Oil The oil industry itself is no stranger to turbulence. Oil producers have had to navigate through rough seas as they deal with everything from fluctuating demand to geopolitical tensions. Still, as the industry struggles to climb out of its hole, oil producers are maintaining full throttle. The implications of this move, strategically significant […]
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