Tether's Web3 Investment Move Tether, known for issuing the USDT stablecoin, has entered the Web3 investment space by committing $2 million to Arcanum Capital's Emerging Technologies Fund II. Arcanum Capital focuses on funding projects related to blockchain, cryptocurrency, and Web3 sectors. This marks Tether's first investment in Web3 since its inception in 2014. Focus on Holepunch Technology Through this investment, Tether aims to support the development

On December 30, the cryptocurrency market saw a decline in most assets, including Bitcoin, which experienced a minor dip of under one percent. According to CoinMarketCap, Bitcoin was trading at $93,197 (approximately Rs. 79.6 lakh) on international exchanges, while Indian exchanges such as Giottus and CoinDCX showed the price at around $101,719 (approximately Rs. 86.9 lakh). Despite the pullback, Bitcoin remained above its 200-day moving average, signaling strong buying interest. The next res

India has initiated anti-dumping investigations into two Chinese products—nylon filament yarn and trimethyl dihydroquinoline (TDQ). The investigations were triggered by petitions from domestic companies, such as Century Enka Ltd., Gujarat Polyfilms Ltd., and Oriilon India Ltd., for nylon filament yarn, and NOCIL Ltd. for TDQ. The Directorate General of Trade Remedies (DGTR) is looking into whether these cheap imports from China and Vietnam have caused material harm to local industries.

The Mega Millions jackpot has soared to $1.15 billion, making it the fifth-largest prize in the game’s history ahead of the drawing on Friday, December 27, 2024, at 11 p.m. ET. However, the amount you take home depends on your payout choice and the taxes you owe. Federal Taxes on Lottery Winnings Lottery winnings are subject to federal taxes. While 24% is automatically withheld upfront, winners w

Cochin Shipyard’s stock saw a significant surge on Friday, hitting an upper circuit limit, following the announcement of a major order from Adani Ports and Special Economic Zone Ltd. The order, valued at approximately Rs 450 crore, is for the construction of eight state-of-the-art harbour tugs, making it the largest contract for the company under the government’s Make in India scheme. Adani Ports emphasized its commitment to the "Make in India" and "Aatman

Jubilant FoodWorks Ltd., a subsidiary of the Jubilant Bhartia Group, has entered into a memorandum of understanding (MoU) with Coca-Cola India Pvt. to acquire its sparkling beverage portfolio and other products from the company's authorized bottlers. The deal, set to begin in April 2025, will see Coca-Cola’s authorized bottlers supplying sparkling beverages to Jubilant FoodWorks, which will handle the marketing of these products. The move is expected to enhance Jubilant Fo

In 2024, the wedding industry in India has seen a resurgence in spending after the lull caused by the pandemic, with metropolitan cities driving a significant increase in demand for wedding services. Wedding budgets have grown by 6.7%, with the average expenditure reaching Rs 35.6 lakh. As wedding costs rise, so has the demand for gold and jewelry, especially due to the soaring prices of gold, which have increased from Rs 63,500 to Rs 80,000 per 10 grams. Destination weddings, which

The surge in wheat flour (atta) prices, which have reached a 15-year high, is significantly affecting the fast-moving consumer goods (FMCG) sector in rural India. According to a recent Kantar report, the rise in atta prices is slowing growth in rural FMCG consumption, which recorded just a 4% increase in the quarter ending October, lower than urban growth at 4.5%. Wheat flour prices have remained elevated for several months, despite government efforts to control food inflation. In December, t

Reliance Jio Infocomm Ltd., India's largest telecom operator, experienced a loss of about 1.65 crore subscribers over the past four months, with 37.6 lakh mobile subscribers leaving the platform in October alone. Vodafone Idea also saw a decline of 19.3 lakh subscribers in October, a bigger loss than the 15.5 lakh subscribers lost the previous month, according to the latest data from the Telecom Regulatory Authority of India (TRAI). These losses come after the tariff hikes announced earli

In a significant legal development, the Bombay High Court has upheld the Maharashtra government's decision to award the Dharavi slum redevelopment project to the Adani Group, dismissing a challenge filed by UAE-based Seclink Technologies. The court ruled that there was no evidence of "arbitrariness, unreasonableness, or perversity" in the state government's decision-making process. Seclink Technologies had alleged that the tender conditions were specifically designed to favo

India introduced the Goods and Services Tax (GST) in 2017 to simplify the tax structure and reduce the tax burden. Recent data shows that the gross GST collection for October 2024 rose by 9% to ₹1.87 lakh crore, a record second-highest figure. However, a recent proposal by the Group of Ministers (GoM) on GST Rates Rationalisation suggests a new 35% GST slab on products like aerated drinks and tobacco, which has raised concerns. The proposal aims to target 'sin' products such as thos

On Thursday, Bihar Chief Minister Nitish Kumar launched a new mobile application, Hamara Bihar Hamari Sadak, aimed at enabling citizens to report poor road conditions in even the remotest areas of the state. The app was introduced at the Chief Minister's official residence, with Minister for Rural Works Ashok Choudhary and Chief Secretary Amrit Lal Meena also present for the occasion. The initiative is intended to utilize state-of-the-art technology for better maintenan

Bangladesh's interim government has accused Adani Power of breaching a multi-billion-dollar agreement related to the supply of electricity from its coal-fired plant in India. The dispute centers on Adani Power withholding tax benefits that the power plant was entitled to under the agreement. The Indian company signed a deal with Bangladesh in 2017 to supply power from the Godda plant, but Dhaka claims that Adani Power failed to pass on the tax exemptions it received from the Indian govern

Ircon International Ltd. has announced the appointment of Alin Roy Choudhury as its Chief Financial Officer (CFO) and key managerial personnel, effective January 1, 2025. Choudhury, who is currently the Chief General Manager of the finance division at the company, will succeed B Mugunthan. Mugunthan will be repatriated to the Ministry of Railways on December 31, 2024. Choudhury, a qualified cost and management accountant, has extensive experience spanning over 30 years in various do

The Bharat Mobility Global Expo, scheduled for January 17-22, 2025, is poised to become the world's largest event in the automotive sector, with over 1,500 exhibitors and an expanded exhibition space of 200,000 square meters. This second edition of the expo will bring together leading global vehicle manufacturers, showcasing electric, hybrid, and fuel-efficient vehicles, as well as advanced automotive technologies. The event will include the unveiling of new models and electric vehicles f

The weakening of Asian currencies is bringing key levels into focus as traders prepare for further dollar gains, fueled by expectations surrounding Donald Trump's economic policies. The Bloomberg Asia Dollar Index is on track for its third consecutive monthly loss, with traders betting that Trump’s low-tax and high-tariff approach will increase inflation and boost the dollar. According to the latest data from the Commodity Futures Trading Commission, both hedge funds and asset manag

Bitcoin reached an all-time high of $107,791, surpassing its previous peak from December 5, as optimism surrounding President-elect Donald Trump’s support for digital assets and MicroStrategy’s inclusion in the Nasdaq 100 Index fueled the rally. On Monday, Bitcoin surged more than 4.8%, reflecting growing market confidence. This positive momentum was amplified by MicroStrategy’s announcement that it had purchased an additional $1.5 billion in Bitcoin, further solidifying the

As of 6:50 a.m. today, gold prices stood at Rs 77,170 per 10 grams, according to the India Bullion Association. This represents a slight dip from the highs seen on Monday when prices had briefly climbed after falling from Rs 79,100 on Friday. The price of gold had reached its highest level for the month on December 11 before experiencing a drop of over Rs 1,000 on Monday. Compared to November's peak of Rs 78,060 on Nov. 23, the current price of gold reflects the ongoing volatility in the

Bitcoin reached an all-time high of over $106,000, marking a significant milestone just 10 days after surpassing the $100,000 mark. The cryptocurrency’s surge is fueled by expectations that the Federal Reserve may cut interest rates during its upcoming policy meeting. Lower interest rates historically benefit Bitcoin, as they weaken the US dollar and increase the money supply, driving investor interest in digital assets. Bitcoin has risen over 77% in the last year, and its rec

BEML Ltd. is working on an ambitious timeline to roll out India’s first indigenous bullet train by December 2026, as revealed by Chairman and Managing Director Shantanu Roy. The company has been tasked with designing and manufacturing the bullet trains for the highly anticipated Mumbai-Ahmedabad route. This project marks a significant milestone in India's railway history, with BEML focusing on building two prototypes. Roy emphasized the importance of intellectual property