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Elon Musk, the CEO of Tesla and the founder of SpaceX, has made history by becoming the first individual to reach a net worth of $400 billion, according to the Bloomberg Billionaires Index. A recent insider sale of SpaceX stock significantly boosted Musk’s wealth, adding roughly $50 billion to his fortune. This deal raised SpaceX’s […]
Bitcoin has soared to an unprecedented high of $100,000, marking a historic moment for the cryptocurrency. The surge reflects growing investor confidence in a more crypto-friendly regulatory environment, anticipated under Donald Trump’s incoming administration following his recent US Presidential election victory. The cryptocurrency has more than doubled in value since the start of 2024 and […]
The global economy will not gain robustness this year, predicted 56% of chief economists, according to the latest World Economic Forum (WEF) report. Seven out of 10 experts predict a rise in geoeconomic fragmentation worldwide in the face of conflicts and crises, with 87% claiming that geopolitics would heighten economic volatility. The Chief Economists Outlook […]
India’s economy could rise to the third rank by 2030, S&P Global has projected. “India is set to become the third largest economy by 2030, and we expect it will be the fastest growing major economy in the next three years,” S&P Global was quoted as saying in its Global Credit Outlook 2024 report titled, […]
In recent times, Asia’s richest man, Gautam Adani, has shown a keenness to straddle worlds that value environmental consideration. Last year, he had publicly spoken about the need to accelerate ESG (Environmental, Social and Corporate) transformation. Upholding this vision, Adani intends to invest in renewable power plants in the north of Sri Lanka. Ironically, the […]
The Indian rupee came to a record low of 80-to-a-dollar mark to hit its fresh entry again after July 19 while bond yields reached 6 basis-points, because of a descent fall in global equities triggered by the strong hawkish stance taken by the Chairman Jerome Powell at the Federal Reserve’s annual Jackson Hole Symposium. The […]
According to a report, nearly 39 percent of millennials own cryptocurrencies, which is higher than the percentage of those who own mutual funds and roughly equal to the number of millennials who own individual stocks. In the study conducted by the investment firm Alto, millennials between the ages of 25 and 40 who own cryptocurrencies […]
Union Communication Minister Ashwini Vaishnaw announced on Thursday that UPI and Rupay card services will be available in France soon, providing a significant boost to the Unified Payments Interface (UPI) and Rupay cards. According to reports, the National Payments Corporation of India’s (NPCI) international arm has signed an MoU with the Lyra Network of France […]
The cryptocurrency sell-off has gotten so bad in recent weeks that simply referring to it as a “crash” no longer suffices. Instead, as Binance CEO Changpeng Zhao tweeted early Wednesday morning, “it’s a bloodbath out there.” The total market cap of all cryptocurrencies has fallen by more than $2 trillion since the peak last fall, […]
On Monday, the Indian rupee sank to a new all-time low of 78.15 against the US dollar. In the midst of a toxic mix of rising expenses and slowing growth, the dollar strengthened on lower demand. Last week, the dollar index gained after consumer price inflation in the United States soared to new 40-year highs, […]
Sun Pharmaceuticals on Friday announced that one of its subsidiaries acquired the Uractiv portfolio from Fiterman Pharma in Romania. The portfolio of the company includes food supplements like minerals, vitamins and adjuvants; cosmetics and medical devices used for maintaining urinary tract health. Uractiv is Romania’s No. 1 brand in its sector, with over a decade […]
Gautam Adani’s strong performance bodes well as he expands his reach. Adani Wilmar Ltd. of India is an outlier among Asia’s newly listed stocks. The food company has nearly tripled in value since its inception, while most newcomers are trading at a loss. Shares in the firm, a joint venture between Gautam Adani’s group and […]
For those who do not know much about cryptocurrencies, the crypto market underwent a huge setback in mid-May with the collapse of stablecoin TerraUSD and its sister coin Luna. As the name suggests, stablecoins are to remain stable. These are pegged to fiat currency (government-issued currency that is not backed by a commodity such as […]
Boon for some and bane for some, the pandemic, however did leave everyone with a story to tell. And now, as we gear towards “normal” leaving behind the “new normal,” here are facts that emerge on the economic front. “Profiting from Pain” was tabled at the World Economic Forum. This four-day meet (May 22 to […]
Elon Musk has done it. A hostile takeover of Twitter. Musk has bought the micro-blogging site for $44 billion. And, yes. He’s now planning to change things. Twitter has about 200 million users across the world – though it’s still far behind Zuckerberg’s Meta, with 3.6 billion users across Facebook, Instagram and WhatsApp. Here are […]
Demand for branded basmati rice, cooking oil, and poultry chicken fell by about 15% in March compared to the same month last year. This rise in prices attributes to high costs and inflationary pressure. As a result of Russia’s invasion of Ukraine, which began in the last week of February, global commodity prices have risen […]
On Tuesday, Dubai inaugurated the museum of the future, a structure it endorses as the world’s most beautiful building. The museum is seven-storey hollow silver ellipse decorated with arabic calligraphy quotes from dubai’s ruler. Also it takes pride of place on Sheikh Zayed road, the city’s main highway. The building’s striking front was lit up […]
Every war has consequences, and the Russia-Ukraine crisis will be no different for India as it will have a substantial economic impact on the country. India will be impacted as countries in conflict-Russia, and Ukraine accounts for 90 percent of India’s sunflower oil imports. As the conflict between two adversaries is in no way cooling […]
Leading Goldman Sachs research analyst Zach Pandl has predicted that Bitcoin will eat into the market share of gold in 2022 with digital assets gaining wide currency across the world. Citing market capitalization of Bitcoin at $700 billion, Pandl says the returns from it are higher though gold looks bigger at $42.6 trillion in terms […]
Samsung might bid adieu to Android Operating System and replace it with a new Fuchsia OS. Fuchsia is Google’s new operating system and the fact that Samsung has contributed to the development of this Operating System gives air to the reports of it being the chosen OS by the company. For their recently launched Galaxy […]
