In a significant development U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and has launched a trading platform to increase its traction in the burgeoning domestic crypto market. The development comes at a time when the fate of cryptocurrency is still unclear in India. CrossTower India has hired 35 people…
On Monday, Oliver Blume, the CEO of luxury sports car maker Porsche AG said, the carmaker is attracting huge demand for its all-electric coupe Taycan model, causing wait times to stretch to up to six months. “Our original production capacity for the Taycan was 20,000 units this year – we’ve sold that many in the…
On Friday, China’s Semiconductor Manufacturing International Corp said, it will invest $8.87 billion to build a chip plant in Shanghai. The development underscores Beijing’s efforts to boost its independence in the chip manufacturing sector. The development comes at a time when global chipmakers are struggling to fulfill orders from the electronics and automotive industries triggering new…
In a statement the CEO of global cryptocurrency exchange Binance said, its U.S. arm could potentially see an initial public offering in the next three years. “Binance.US is just going to do what Coinbase did,” said Zhao. He went on to add, Binance.US is set to close on a large private funding round in the…
On Wednesday, in a statement Royal Dutch Shell announced its plans to significantly expand its network of electric vehicle charging points in Britain. Shell plans on installing 50,000 on-street charging stations by 2025; it plans on implementing its plan through ubitricity, an on-street charging point company that it acquired earlier this year in February. Incidentally,…
India’s latest action against fraudulent websites hosted on Google’s Firebase platform reflects a significant change in the country’s fight against digital financial crime. Instead of pursuing only the websites, phone numbers and bank accounts used by individual scammers, authorities are increasingly targeting the digital infrastructure that allows fraudulent operations to function. The Indian Cyber Crime…
Standard Chartered is expanding its use of hedge fund strategies for wealthy clients as financial markets become more difficult to navigate, reflecting a broader shift among global wealth managers toward alternative investments. The bank’s move is significant not because hedge funds are new to private wealth, but because banks are increasingly presenting them as an…
Meta is facing a legal challenge that could affect far more than the future of Facebook and Instagram. A major trial underway in California is testing whether social media companies can be held responsible for deliberately designing platforms to encourage prolonged use among children and teenagers. The case is important because the allegations focus not…
China’s expanding campaign to tax offshore wealth is forcing wealthy investors to reconsider structures that were once widely used to manage assets outside the mainland. New rules covering offshore trusts, combined with growing scrutiny of overseas insurance and investment income, are changing the calculation for families that hold substantial wealth through Hong Kong, Singapore and…
India’s food safety regulator has widened its scrutiny of the country’s spirits industry by inspecting a Pernod Ricard manufacturing facility in Bengaluru and collecting samples of popular whisky brands. The two day inspection, according to sources familiar with the matter, involved testing liquor samples, reviewing documentation and examining production and packaging practices. No adverse finding…
Alibaba is turning to the stock market to finance an artificial intelligence expansion that is already reshaping the company’s finances. The Chinese technology group has launched an HK$80 billion share placement, worth about US$10.2 billion, with all net proceeds earmarked for its artificial intelligence capabilities. The move is significant not simply because of its size,…
A Chinese humanoid robot running 100 metres faster than the fastest human in history is an extraordinary demonstration of engineering progress, but the significance of the achievement lies less in beating a sporting record than in what it reveals about the direction of China’s robotics industry. Tiangong Ultra completed the distance in 9.39 seconds at…
Diesel prices have overtaken jet fuel prices in Europe for the first time in more than a year, revealing a deeper imbalance in the region’s refined-fuel market. The shift is not simply the result of stronger diesel demand or weaker aviation demand. It reflects a supply chain under pressure from several directions at once: reduced…
The European Central Bank is moving toward another interest rate increase not because the euro zone economy is overheating, but because a prolonged energy shock is threatening to keep inflation above target for longer than policymakers had expected. According to economists surveyed in recent reporting, the ECB is widely expected to raise its deposit rate…
The investment habits of wealthy households are increasingly diverging from those of ordinary investors, not necessarily because they possess access to secret investments, but because they approach wealth as a system rather than a portfolio. Recent wealth research and financial-industry analysis suggest that affluent investors are putting greater emphasis on diversification across private markets, real…
business-gurus.com 