Forex Course Day Finance Ltd

BRI Ferrier is the external administrator of now-bankrupt forex broker Union Standard International Group PTY LTD (USGFX). https://www.financebrokerage.com/usgfx-to-enter-liquidation-finance-brokerage/

BRI Ferrier is the external administrator of now-bankrupt forex broker Union Standard International Group PTY LTD (USGFX). https://www.financebrokerage.com/usgfx-to-enter-liquidation-finance-brokerage/ submitted by FinanceBrokerage to u/FinanceBrokerage [link] [comments]

Magma Fin Corp Ltd

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Buy jubilant foodworks ltd

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submitted by StockMarketInitiativ to u/StockMarketInitiativ [link] [comments]

What is Forex?

What is Forex?
Forex, also identified as foreign exchange, FX or currency trading, is a decentralized global market where the entire world's currencies trade. The forex market is the biggest, liquid market in the world with an average daily trading volume beyond $5 trillion. Not all the world’s combined stock markets even come close to this. However, what does that mean to you? Take a closer look at forex trading and you may find some exciting trading opportunities unavailable with other investments.
Forex transaction: it is all in the exchange
If you have ever toured overseas, you have made a forex transaction. Take a trip to Belgium and you convert your British pounds into Euros. When you do this, the forex exchange rate between the two currencies—based on supply and demand—determines how many euros you get for your British pounds. Moreover, the exchange rate varies endlessly.
A single British pound on Monday could get you 1.19 euros. On Tuesday, 1.20 euros. This tiny change may not seem like a big deal. However, think of it on a bigger scale. A big international company may need to pay overseas employees, Imagine what that could do to the bottom line if, like in the example above, simply exchanging one currency for another costs you more depending on when you do it? These few pennies add up quickly. In both cases, you—as a tourist, traveler or a business owner—may want to hold your money until the forex exchange rate is more favorable.
Example of Forex Company: Spark Global Limited
What is Spark Global LTD?
Spark Global LTD known as SGL is Global Broker is a foreign exchange community that uses the Meta Trader 5 system to provide investors with copy order trading services. The platform integrates transaction data and connects to multiple exchanges, improves distributed CRM through liquidity and execution speed, provides technical support for transaction models, meets various business needs of customers, and allows investors to obtain DIY finance Digital analysis trading solutions. It has competitive spreads, which helps customers reduce transaction costs. This makes Spark Global Limited a platform that investors can trust. As a global veteran in foreign exchange, Spark Global Limited is very strong and has a relatively high brand value. It is an international veteran foreign exchange dealer and an old brand with more than ten years of history. This makes Spark Global Limited a platform that investors can trust. For more details you can follow their official facebook) or visit their official website or text them on [[email protected]](mailto:[email protected],)
submitted by samysgl to u/samysgl [link] [comments]

RapiPay announces collaboration with Maximus for Micro-ATM services

RapiPay announces collaboration with Maximus for Micro-ATM services
https://preview.redd.it/dy00hzh121t51.png?width=497&format=png&auto=webp&s=7c7237199e9082b8703d97588727eb6459f9c5f1
RapiPay Fintech Pvt. Ltd., owned by the listed Capital India Finance Ltd., has recently launched Micro-ATM services through collaboration with Maximus as the technology service provider (TSP).
RapiPay has a network of over one lakh agents (merchants/shopkeepers) to provide Banking and Financial Services across India, especially in the hinterland of the country. As a business correspondent of multiple banks, RapiPay aims to address the major issue of lack of ready access to banking services in smaller towns through a comprehensive, digitized banking service enablement program. The company holds a prepaid payment instrument license from RBI and offers remittances, Micro-ATM, AePS and bill payment services to millions of end consumers through its agents who are called RapiPay Saathis.
Maximus, as the technology partner, offers the entire digital rails to RapiPay to enable the latter to penetrate newer segments and offer essential financial services to customers near their doorstep. Maximus uses cutting-edge technology to engineer unique financial and payment products and offers these as hosted services. Maximus has the widest range of digital and card-based solutions among service providers and its customer footprint encompasses banks, payment companies and service providers across ten countries.

Micro-ATM services
Yogendra Kashyap, CEO, RapiPay stated “We are delighted to partner with Maximus for technology services for the Micro-ATM. Micro-ATM service is an important leg of our fintech journey. While we already provide ATM cash withdrawals through AePS (Aadhaar-enabled Payment Systems), with launch of our Micro-ATM handheld devices, we are taking the Micro-ATM and fintech industry to the next level.”
V. Shankar. Founder & CEO of Maximus added “The RapiPay Micro-ATM project involved building customized interfaces between our Switch and RapiPay’s middleware. In addition to transaction processing, we are providing sophisticated, automation-driven reconciliation and dispute management support, with up-to-date information available on intuitive dashboards. There is a strong intersection of interests between RapiPay and Maximus and we will continuously evolve to fulfil the digital vision of RapiPay through our innovatively engineered solutions. We are delighted that RapiPay has chosen Maximus for its technology platforms.”
About CIFL (RapiPay’s parent company)
RapiPay Fintech Pvt. Ltd. is a subsidiary of Capital India Finance Limited (CIFL), which is an India-focused, well capitalised and less leveraged NBFC. CIFL focusses on providing customised financial solutions to Mid-corporates and SMEs for their growth and working capital requirements. CIFL provides home loans in affordable segment through its HFC, Capital India Home Loans. Its fintech wing is RapiPay, which provides remittances and Micro= ATM services. Recently, CIFL has forayed into forex business by the name of RapiPay.
About Maximus Infoware (India) Pvt. Ltd.
Established in 2007, Maximus offers omni channel solutions for the BFSI, Transit, Smart Cities, Retail and Telecom sectors. Its EFT switching, digital payments, reconciliation, fraud & risk management and cash management solutions use innovative technologies and are state-of-the-art. The product portfolio of the company covers full digital payment, assisted payment and card-based payment rails for Rupay, VISA, MasterCard and other international schemes. Maximus delivers unparalleled service levels to its customers spread across ten countries under both hosted and on-premise deployment models. Its payment products are PA-DSS certified and the IT processing infrastructure is PCI-DSS and ISO/IEC 27001:13001 certified.
For business enquiries:-
[[email protected]](mailto:[email protected])
submitted by NewsPressInida to u/NewsPressInida [link] [comments]

Финансовая кухня от псевдо-брокера Icon Investing ltd

Финансовая кухня от псевдо-брокера Icon Investing ltd - развод или правда. Честный отзыв от Baxov.Net


Icon Investing ltd – очередной липовый брокер, обещающий золотые горы своим клиентам. Мошенники предлагают начинающим инвесторам зарегистрироваться на их сайте и торговать валютными парами, сырьём, индексами и акциями. Вот только не стоит этого делать. Потому что вы лишитесь своего вклада. Почему? Давайте присмотримся поближе к этому лохотрону.
E-mail адреса проекта
[[email protected]](mailto:[email protected])
[[email protected]](mailto:[email protected])
[[email protected]](mailto:[email protected])
[[email protected]](mailto:[email protected])
[[email protected]](mailto:[email protected])
Внимание! мошенники очень часто меняют адреса своих лохотронов. Поэтому название, адрес сайта или email может быть другим! Если Вы не нашли в списке нужный адрес, но лохотрон очень похож на описанный, пожалуйста свяжитесь с нами или напишите об этом в комментариях!
Информация о проекте
Начнём с легенды. О себе шарлатаны пишут:


ICON INVESTING – лучшие условия для торговли на Форекс
Компания ICON INVESTING была основана в 2012 году. Нашей основной целью является предоставление возможности для трейдеров торговать с полной уверенностью. Среди наших главных ценностей – безукоризненная репутация и инновации. Клиенты всегда стоят для нас на первом месте. Мы прикладываем все усилия, чтобы трейдеры любых уровней могли раскрыть свой истинный потенциал. Мы стараемся, чтобы наши клиенты получали высокое качество обслуживания, будь то служба поддержки, разнообразие инструментов, выбор платформ или любые другие услуги.

Откуда взяться безукоризненной репутации? Насмешили.
Типов аккаунтов три.

НАЧИНАЮЩИЙ
Начальный капитал: $250
ТРЕЙДЕР
Начальный капитал: $5 000
ИНВЕСТОР
Начальный капитал: $20 000
В зависимости от суммы вклада, жулики обещают разные плюшки.
Как таковой юридической документации у аферистов нет, хотя раздел с таким названием есть. Если перейти по ссылке, можно почитать клиентское соглашение, отказ от ответственности и другие шаблонные договоры на английском языке. Документами их назвать на самом деле сложно. Более точный термин – филькина грамота.

Я решила перевести тот бред, который пытаются втюхать нам шарлатаны. В частности, в клиентском договоре написано (перевод мой):

Внебиржевые торги означают, что торговля не осуществляется на регулируемой бирже. Нет гарантии кредитоспособности контрагента по вашей позиции Forex, CFD.

Другими словами, Icon Investing ltd не проходил аудит у национальных финансовых регуляторов. А значит компания не имеет права заниматься брокерской деятельностью.
Что ещё забавного есть в тексте соглашения?

Компания не дает инвестиционных советов. Рыночные рекомендации, сигналы, информация, предоставляемая и / или распространяемая Компанией, носит общий характер и основана на исключительно на мнении персонала Компании или сторонних поставщиков информации. Эти рыночные рекомендации могут соответствовать или не соответствовать положению на рынке или намерениям Компании, ее аффилированных лиц и / или сотрудников.

То есть жулики честно признаются, что доверять им нельзя.
Сам текст договора составлен безграмотно. Навряд ли его сочинял юрист. Скорее всего какой-то копипастер слепил его из шаблонов, которые можно найти в интернете.
Используют прохиндеи торговый терминал, созданный компанией «Ютип». На baxov.net опубликован обзор на разработчика и его программное обеспечение:
https://www.baxov.net/reviews/nasha-ocenka-foreks-platforma-utip-stoit-li-registrirovatsya
Вкратце, у «Ютип» плохая репутация. Трейдеры жалуются, что брокеры, используя дыры в терминале «Ютип» могут рисовать любые графики и котировки в личном кабинете, тем самым обманывая инвесторов.
Контакты проекта
Адрес: Rodney Bayside Building, Rodney Bay, Gros-Islet, St. Lucia
Телефоны:
+44 148 087-9571 – код Великобритании
+7 499 642-3254 – код России
Данные по сайту:
Домен IconInvesting.com был зарегистрирован 22 ноября 2019 года
Имя собственника скрыто
Разоблачение проекта
Icon Investing ltd – это липовая компания. Жулики пишут, что работают с 2012 года, но домен их сайта относительно молодой. А главное – они не соизволили опубликовать документы о регистрации своей шараги. Перепроверить компанию в реестре юрлиц Сент-Люсии нельзя, ибо данное государство находится в офшорной зоне. Как удобно!
Далее, в контактах указаны русский и британский телефоны. Если бы Icon Investing ltd официально работали в этих странах, у них была бы местная регистрация. Но её тоже нет.
Что это означает? Что мы имеем дело с проходимцами без документов и без совести.
В чём суть развода? Аферисты не ведут реальных торгов, а имитируют их, заманивая клиентов в так называемую форекс-кухню. На жаргоне трейдеров так называются сделки, закрываемые трейдерами того же брокера или самим брокером. Поскольку брокер не может работать в убыток, возникает конфликт интересов.
Первое время негодяи будут рисовать своим клиентам прибыль в личном кабинете, уговаривая вложить ещё больше денег. Если вы поддадитесь на уловки, мошенники не остановятся, пока не обчистят вас до гола. Если же вы сразу попытаетесь вывести якобы заработанные деньги, они кинут вас.
Возможные потери на проекте
Итого: калькуляция возможных потерь на проекте – любая сумма, выше 250 долларов.
Вывод о проекте
Icon Investing ltd – это лохотрон. У аферистов нет документов. Кроме того, они используют «дырявое» программное обеспечение. Доверять им свои деньги не стоит. Любая сумма, вложенная в этот мошеннический проект, будет потеряна.


Остерегайте себя и сбережения вместе с Baxov.Net
https://www.baxov.net/reviews/finansovaya-kukhnya-ot-psevdo-brokera-icon-investing-ltd
submitted by Baxov_Net to u/Baxov_Net [link] [comments]

Wayland Group DD

I want to use this thread to present the key findings of going through recent Wayland news releases. Everything shown here is public accessible. I have no intention to accuse someone of fraud or something like this, just asking questions ....

Feb 20 2019: Wayland Group Provides Corporate Update
I do not want to speak about the well below average generated revenues nor the revenue forecasts. Just as a side note: Ben had a forecast of ~ $15,000,000 for Q4 2018 (October – December 2018). The corporate update states $1,305,033 for Q4 2018 (< 10 percentage of the forecast). In addition, you cannot whitewash the 480% increase to the previous quarter.

“Wayland has also entered into an agreement to obtain additional funds to support the expansion of the Company’s global footprint and fund development of its flagship Langton facility. This agreement is with certain investment funds managed by Alpha Blue Ocean Inc. (“Alpha Blue”) a money manager based in London, United Kingdom with a strong track record of partnering with public companies and delivering meaningful value to their shareholders.”

Founder and CEO of Alpha Blue Ocean Inc. is Pierre Vannineuse (https://www.linkedin.com/in/piervan/)

Ok let’s have a look at their strong track record:

JUN 21 2018
QuickCool AB (Publ) ("QuickCool" or the "Company") has entered into a financing agreement with European High Growth Opportunities Securitization Fund through its financial advisor Alpha Blue Ocean Inc.
See: http://news.cision.com/quickcool/quickcool-ab-enters-into-a-financing-agreement-with-european-high-growth-opportunities-securitizatio,c2554476

See performance since financing: https://i.imgur.com/j7HxzPk.png

Okay next
MAR 28 2018: CybAero and European High Growth Opportunities Securitization Fund (“EHGO”), advised by Alpha Blue Ocean Advisors Ltd, member of the Alpha Blue Ocean Investment Group (“ABO”), has now signed an agreement regarding a financing solution of up to SEK 52.5 million in the form of thirteen convertible loans, the first loan of SEK 4.5 million and the following twelve loans each of SEK 4 million.
See: http://news.cision.com/cybaero/cybaero-signs-agreement-with-alpha-blue-ocean-for-up-to-sek-52-5-million,c2483046

Seriously? Just 3 months later:
June 22 2018: Sweden’s largest military drone maker files for bankruptcy
“CybAero had provisionally negotiated a financing solution with the Luxembourg-based European High Growth Opportunities Securitization Fund, or EHGO, to raise $6 million in the form of 13 convertible loans. The EHGO had hired the London-based Alpha Blue Ocean Advisors to mediate a deal. The first tranche in this solution involved a bridge loan amounting to $227,000.
Nasdaq First North rejected this first tranche arrangement and insisted that, in order for trading in its share to resume, CybAero needed to place a minimum of $114,000 in escrow on a authorized bank account. Moreover, Nasdaq First North launched an investigation to determine if the negotiated financing solution violated stock exchange rules.”
See: https://www.defensenews.com/newsletters/unmanned-systems/2018/06/22/swedens-largest-military-drone-maker-files-for-bankruptcy/

Also see: https://simplywall.st/stocks/se/capital-goods/sto-cba/cybaero-shares/news/will-you-be-burnt-by-cybaero-abs-stocba-cash-burn/

Okay next
Feb 20 2018: MOLOGEN AG enters into financing agreement with Alpha Blue Ocean's European High Growth Opportunities Securitization Fund
See: https://www.dgap.de/dgap/News/corporate/mologen-enters-into-financing-agreement-with-alpha-blue-oceans-european-high-growth-opportunities-securitization-fund/?newsID=1053753

See performance since financing: https://i.imgur.com/JXVJ7yq.png

Okay next
19 March 2018: Cereno Scientific enters into a financing agreement with European High Growth Opportunities Securitization Fund through its advisor Alpha Blue Ocean
See: https://www.cerenoscientific.se/en/en/ehgo_agreement

See performance since financing: https://i.imgur.com/CS7rq5y.png

Okay next
10 Jan 2018: FIT Biotech's EUR 10 million financing agreements' share loan and first part of commitment fee related shares have been handed over today to Alpha Blue Ocean
See: https://www.pm360online.com/fit-biotech-oy-fit-biotechs-eur-10-million-financing-agreements-share-loan-and-first-part-of-commitment-fee-related-shares-have-been-handed-over-today-to-alpha-blue-ocean/

See performance since financing: https://i.imgur.com/N0XhSQp.png

FIT Biotech Oy Company release 20.02.2019 at 14:30 EET
Liquidity crisis, request for a tranche and changes to financial calendar and date of the Annual General Meeting
Despite the financing agreement in force, Alpha Blue Ocean (”ABO”) has not paid tranches envisaged by the agreement since 12 November 2018. This has resulted in a liquidity crisis in FIT Biotech Oy (”Company”). The Company has today filed a latest request for a tranche with ABO. Unless ABO pays this tranche by 22 February 2019, Company will have to file for bankruptcy.
See: https://www.marketscreener.com/FIT-BIOTECH-OY-22752983/news/FIT-Biotech-Oy-Liquidity-crisis-request-for-a-tranche-and-changes-to-financial-calendar-and-date-o-28037452/

I think you are able to recognize the pattern. However the best is yet to come. Just google “alpha blue ocean death spiral”. Same type of financing for Element ASA – a Norwegian based mining company.

“The Induct Manager will demand a million dollar compensation from the "Death Spiral Mortgage Company" Alpha Blue Ocean Stock Exchange and Finance”
See: https://vaaju.com/norway/the-induct-manager-will-demand-a-million-dollar-compensation-from-the-death-spiral-mortgage-company-alpha-blue-ocean-stock-exchange-and-finance/

Why Would a Company Want Death Spiral Financing?
“A company that seeks death spiral financing basically has no other option to raise money to survive.”
See: https://www.investopedia.com/terms/d/deathspiral.asp

See also:


Biotech Firms Run Away After Industry Party With Topless Dancers
See: https://www.bloombergquint.com/business/after-biotech-party-features-topless-dancers-firms-pull-support#gs.RO9Bf8oK

https://i.imgur.com/oQ4n3TC.png
Haha … Sean?

Also have a look after Pierre Vannineuse other investing company Bracknor IG. I did not check, but it possibly has a similar track record.

I could go on like this, but I think you got it. So this means “strong track record and delivering meaningful value to their shareholders.” for Ben?

Next news release:
Feb. 07, 2019: Wayland Group Receives EU-GMP Certification for German Facility
“Wayland Group is pleased to announce that it has received both Good Manufacturing Practices and Good Distribution Practices certifications from the national authority in the State of Saxony for the Company’s Ebersbach facility in Germany.”
See: https://globenewswire.com/news-release/2019/02/07/1711837/0/en/Wayland-Group-Receives-EU-GMP-Certification-for-German-Facility.html

Welcome to EudraGMDP
EudraGMDP is the name for the Union database referred to in article 111(6) of Directive 2001/83/EC and article 80(6) of Directive 2001/82/EC. It contains the following information:
· Manufacturing and import authorisations
· Good Manufacturing Practice (GMP) certificates.
· Statements of non-compliance with GMP
· GMP inspection planning in third countries
See: http://eudragmdp.ema.europa.eu/inspections/displayWelcome.do

https://i.imgur.com/W2zdxqH.png

Looks promising

https://i.imgur.com/c6yVRxu.png

SCOPE OF AUTHORISATION
Name and address of the site : Maricann GmbH, Moritzburger Weg 1, Ebersbach OT Naunhof, Sachsen, 01561, Germany
Human Medicinal Products
Authorised Operations
IMPORTATION OF MEDICINAL PRODUCTS (according to part 2)
Part 2 - IMPORTATION OF MEDICINAL PRODUCTS
2.3 Other importation activities
2.3.1 Site of physical importation
2.3.2 Importation of intermediate which undergoes further processing

But where is the GMP certificate? Latest GMP certificates for Germany:

https://i.imgur.com/bZxouN0.png
https://i.imgur.com/ZOlvlwo.png

Just for their facility in Canada. Maybe the missing of the announced GMP certificate is because of the german tender process. Maybe not, who knows …

“These certifications provide Wayland with the foundation to start selling product into the lucrative German and other developing European markets …”

Oh really? Not in my view …

Next news release:
Jan. 31, 2019: Wayland Group Comments on Recent Promotional Market Activity

“Since September 1, 2017 the Company has engaged MJM Markets and Consulting (Toronto, Canada; Follow The Money Investor Group, o/a 2632436 Ontario Limited (Toronto, Canada); Harbor Access LLC (NY, USA); Investing News Network; M. Davis & Associates Capital Inc (Vancouver, Canada); ERPR AS (Oslo, Norway); BlackX GmbH (Germany); Tycona Media (Vancouver, Canada); DiePRBerator (Germany); Global Financial Network (Toronto, Canada), and Prosdocimi (London, UK) at various times to provide investor relations services, public relations services, marketing, native advertising or other related services including the promotion of the Company, its business and/or its securities.”

See: https://globenewswire.com/news-release/2019/01/31/1708838/0/en/Wayland-Group-Comments-on-Recent-Promotional-Market-Activity.html

Really? What is your business model @ Wayland?!

Just to give you one example:

BlackX GmbH received 1,300,000 shares (each $1.50 = $1,950,000) for the creation/translation of pump articles. See: https://webfiles.thecse.com/CSE_Form_9_-_Notice_of_Issuance_of_Securities_BlackX_12Nov2018.pdf?4gdPoHHl03IN_5qafloB2.0FP4zHeqYb=

For what exactly? Example:
https://www.dgap.de/dgap/News/dgap_media/maricann-group-inc-mit-volldampf-die-zukunft-ceo-ben-ward-gibt-ausblick-ueber-hervorragende-entwicklung-der-wayland-group/?newsID=1110809

A template lacking in content with share price predictions of 3 to 5 Euro (4.5 – 7.5 CAD).

Next news release:
Jan 30 2019: Wayland Group Corporation: European Cannabis Giant Wayland is said to be in advanced talks to purchase and re-open the Voss Water bottling plant in Norway
See: https://www.ftmig.com/company-news-releases/european-cannabis-giant-wayland-is-said-to-be-in-advanced-talks-to-purchase-and-re-open-the-voss-water-bottling-plant-in-norway/

The not named London based Norwegian investor in the last paragraph is probably Lars Christian Beitnes (also mentioned in the second paragraph). After reading his name in a Wayland press release again, I got excited. Again? Yes, I have done some DD about Beitnes when Wayland announced the first Malta LOI with Medican Holdings (USD$10.1MM for a recently created shell company in Malta) - see: https://www.newcannabisventures.com/maricann-to-pay-10-million-to-acquire-malta-licensed-cannabis-producer-medican-holdings/

I was glad when Malta Enterprise terminated this LOI “Malta Enterprise then contacted Maricann to request the Company make its own application, as their preference was to work through Maricann rather than Medican.“ – see: https://www.newcannabisventures.com/maricann-to-pursue-malta-medical-cannabis-license-independently/

Why am I shocked to see the name Beitnes and Wayland in a press release?
In my view Beitnes is far away from being a person you should do deals with. He is being accused to be part of several frauds/scams in the past/present and recently left as a Chairmen of Element ASA – see: https://www.dn.no/bors/element/lars-christian-beitnes/rikard-storvestre/avtroppende-styreleder-far-100000-kroner-i-maneden-for-radgivning/2-1-498862

Element ASA … wait … yea the norwegian based mining company who is the victim of the death spiral financing by Alpha Blue Ocean Inc.!!!

There is a long thread about him in a Norwegian stock community with everything mentioned why you should avoid him – see: https://forum.hegnar.no/thread/16282/view/0/0?page=1

Because of the length of the thread, see some highlights:

I know this is much content, but if you want to make your own picture of Beitnes just dig into this whole Element ASA debacle starting last year. Two auditors (EY & PwC) and the CFO left Element … Then Beitnes left as Chairmen but now serving as external consultant for Element receiving 100.000 NOK monthly. https://www.dn.no/bors/element/lars-christian-beitnes/rikard-storvestre/avtroppende-styreleder-far-100000-kroner-i-maneden-for-radgivning/2-1-498862 would be a good start. Or dig deeper into the Swedish Pensions Authority lawsuit against Beitnes.

Finally … just ask yourself why does Ben deals with such shady persons? Did Ben no DD on those guys or did he not want to … And that is just the top of the iceberg.


TO BE CONTINUED
submitted by PHan222 to weedstocks [link] [comments]

Stocks to Watch: Infosys, Yes Bank, Vodafone Idea, Tata Steel, Adani Gas

Stocks to Watch: Infosys, Yes Bank, Vodafone Idea, Tata Steel, Adani Gas

https://preview.redd.it/9q74fr8w1ha41.jpg?width=600&format=pjpg&auto=webp&s=b3d1f4c9df30fa6db2df833395c391c1084792d0
Infosys: Information technology services provider Infosys Ltd declared its third quarter earnings after market hours on Friday. The company’s net profit for the third quarter ended December stood at ₹4,457 crore, up nearly 11% quarter-on-quarter. Also, the IT major’s audit committee found no evidence of financial impropriety or executive misconduct against its CEO Salil Parekh following a detailed probe into whistleblower allegations.
Vodafone Idea: In view of two-year moratorium granted by the department of telecommunications (DoT) on deferred payment liabilities towards spectrum payments to telecom companies, Vodafone Idea has decided to utilize ₹2,826 crore earmarked for the same against repayment of loans and redemption of non-convertible debentures.
Yes Bank: The board of directors of Yes Bank on Friday approved raising of funds up to ₹10,000 crore through a mix of equity and debt and decided not to proceed with the offer from Erwin Singh Braich-SPGP Holdings. Also, Yes Bank’s co-promoter Rana Kapoor and his family-run firms have completely exited the bank, taking their stake in the institution to nil, thereby losing all control and voting rights in the bank.
Edelweiss Financial Services: The Enforcement Directorate (ED) on Friday issued summons and called for information from Edelweiss group and its Chairman Rashesh Shah in a ₹2000 crore Foreign Exchange Management Act (FEMA) case. However, the company on 12 January in a filing with exchanges said that Edelweiss has no relationship with Capstone Forex and all allegations of FEMA violations are false.
Reliance Home Finance: Anil Ambani lead Reliance Home Finance on Sunday said an independent forensic audit, mandated by lenders, has found no fraud, embezzlement or diversion and siphoning of funds in the company that is seeking debt resolution. In a statement, the company said the audit made “no adverse findings” on the quantum and end-use of lending.
Adani Gas: The gas distributor has sought a perpetual loan of $350 million from its promoters to finance expansion, according to a Mint report. The Adani group company has approached three promoter group entities—Adani Rail Infra Pvt. Ltd, Adani Infra India Ltd, and Adani Properties Pvt Ltd—for the loan. Adani Gas Ltd will pay an interest of 9% for the loan, and spend about $50 million of the $350 million for retail distribution.
Tata Steel: The company on Friday announced that Tata Steel Netherlands Holdings B.V. (TSNHBV), a 100% subsidiary of Tata Steel Limited, has executed agreements for the refinancing of its bank debt. TSNBHV has raised term loan facilities of EUR 1.75 billion from 19 banks. This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of Mar 2019, enabling the standalone European business to have a more robust balance sheet.
Hindustan Construction Company: Lenders of Ajit Gulabchand’s Hindustan Construction Co. Ltd. (HCC) on Friday said they were going to carve out about ₹2,100 crore of debt on the construction firm to a third-party-controlled special purpose vehicle; certain arbitration awards and claims will also move to the SPV and will significantly deleverage the company and address its asset-liability mismatch.
Lupin: The pharma company on Saturday said it has received two observations from the US health regulator following the inspection of its Nagpur manufacturing facility. A prior approval inspection was carried out by the United States Food and Drug Administration at the company’s Nagpur oral solid dosage manufacturing facility between January 6-10, 2020, Lupin said in a filing to BSE.
Auto Stocks: Passenger vehicles sales declined 1.24% year-on-year in December to 235,786 units as manufacturers decided to cut production to match subdued retail demand and reduce inventory of Bharat Stage -VI emission norms compliant vehicles. The fall was largely due to an 8.4% decline in passenger car sales to 142,126 units.
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DIGITAL GOLD STABLE COIN (GOLD TOKEN) IS THE STABLE COIN YOU NEED TO INVEST IN GOLD METAL

DIGITAL GOLD STABLE COIN (GOLD TOKEN) IS THE STABLE COIN YOU NEED TO INVEST IN GOLD METAL
https://preview.redd.it/5mv99mcgf9641.jpg?width=259&format=pjpg&auto=webp&s=9e0f9b9c0272d594113b2bde74a37c880b665812
Gold is an ordinary mineral that is mined because of its phenomenal properties, for example, solid and, for budgetary worth, gold has been seen as one of the most basic and exorbitant mined minerals, an advantage that is on occasion included. it is exorbitant. During the time gold has created from being a typical mineral into a kind of money, this is an immediate consequence of the cutting edge exchange promote, for example, Forex needs to exchange gold sets with other real monetary structures.
A reaction to this has been needed to be known as Computerized GOLD which utilizes Blockchain Development to crush the issues that gold appearances. Propelled Gold is a blockchain based business, made to draw in the digitization of the spending market, and their diverse hypothetical instruments and needs to achieve this by empowering customers to buy consolidations in physical gold, through amazing GOLD TOKEN that depends upon the ERC-20 Ethereum Stage.
The main capital theory Placing resources into gold is a centered effort around capital, making it hard for individuals with superfluous financing to go on an endeavor. Automated Gold is a phase group between various ace units related to money, including both little and gigantic capital hypotheses enough buying gold through Advanced Gold and great spots of gratefulness in worth.

https://preview.redd.it/1qn1kttff9641.jpg?width=304&format=pjpg&auto=webp&s=84469aee05d502a75ca9f3b6a3b3ceb496c8d7c3
A long buying structure and an exorbitantly high welfare effort
The issues related with secures physical metals to ensure that they are taken care of safely are uncommon, and the issues related with gaining physical gold. Declaring made by different work domains and the mindlessness of indefinite quality for specialists related to gold coins are affirmed gives that are difficult to endure.
With Advanced Gold, regardless, this issue doesn't exist considering the way that monetary pros can make puzzle purchases quickly from their versatile beguilement or various instruments that help the web. Propelled Gold ousts this confinement/issue and offers assorted proposition regards.

Points of interest OF Advanced GOLD STABLECOIN
The Advanced Gold Stage has an extraordinary interior crypto graphic cash money known as a Gold Token and each token is practically identical to one gram of 99.99% FINE gold set away in an affiliation safe, so you have to do a little math to find how a lot of gold FINE you need to store.
This proposes when a customer has any size Gold tokens, they ordinarily have the gold put something aside for them in the affiliation's vault. Furthermore, tokens empower customers to buy the implications of using gold to exchange money, or use it as a wealth gathering system and that requires central undertakings to achieve.
Bargain of Gold with Blockchain Advancement is attestation that the blockchain can upset the monetary market, show the advantages of this particular improvement and at the same time make digitalization of this Gold add to premium all through the world and the Gold Token and Computerized Gold business center won't be adequate for this dazzling horde.

https://preview.redd.it/xxkki22hf9641.jpg?width=275&format=pjpg&auto=webp&s=5b50bb32b68d3a832f61e492e4a6729550cb785a
One of the activities that I adjusted was to have an all-encompassing game plan of theories. GOLD gives an ideal financial opportunity to place assets into one, for instance, two particularly liquid markets (propelled money and gold) with strong potential for progression.
Gold Computerized Tokens gave on Ethereum are fun tokens with ERC20 shows up. Propelled Gold tokens offer a merger of one gram of 99% unadulterated gold. Advanced Gold costs are constantly revived using spot gold costs with unimportant spreads.
At whatever point Advanced Gold tokens are procured, a degree of the gold equivalent is physically sent to the Digital Gold Ltd. safe.

https://preview.redd.it/7perx8shf9641.jpg?width=280&format=pjpg&auto=webp&s=5c48d7d0ccda204f585c66b10f34c857504693a2
End
The headway of the web and blockchain has changed joint business tries and endeavored new progressions for attempts with the potential for extending goliath. Gone are the working significant stretches of different regulatory records, get a legitimate guide/untouchable for contract progress and prerequisites, just to contribute.
As more individuals, affiliations, divisions, and the economy continue managing the progression of the blockchain, Advanced Gold will continue considering paying little mind to how you believe it to be a framework that is ceaselessly prepared to place assets into a particularly liquid gold market that offers superior to anticipated conditions.

Similarly put into gold. Why lock when you can work sharp?
Why spend more resources using existing and outdated gold effort strategies when general choices exist?
Why not find more by visiting the Site, or checking the whitepaper. You can moreover glance in the wake of endeavoring to use the periods of online structure association media, for instance, Facebook, Twitter and Messages for updates and requesting.
For more information; do visit:
Website: https://gold.storage/
ANN Thread: https://bitcointalk.org/index.php?topic=5161544
Whitepaper: https://gold.storage/wp.pdf
Twitter: https://twitter.com/gold_erc20
Telegram: https://t.me/digitalgoldcoin

Author: IVEXO
https://bitcointalk.org/index.php?action=profile;u=1942787
submitted by AlisaDowdy to Crypto_ICO_Investing [link] [comments]

DIGITAL GOLD BENEFITS AND MERITS

DIGITAL GOLD BENEFITS AND MERITS

https://preview.redd.it/9rjz8nwx2uy31.png?width=521&format=png&auto=webp&s=983e65d2f6b04e623a513cfee7091402600b9cca
Gold is a normal mineral that is mined as a result of its extraordinary properties, for instance, strong and, for budgetary worth, gold has been viewed as one of the most essential and over the top mined minerals, a bit of leeway that is once in a while included. it is over the top. During the time gold has made from being a commonplace mineral into a sort of cash, this is a quick result of the propelled trade advance, for instance, Forex needs to trade gold sets with other authentic budgetary structures.
A response to this has been should have been known as DIGITAL GOLD which uses Blockchain Innovation to beat the issues that gold appearances. Impelled Gold is a blockchain based business, made to attract the digitization of the spending market, and their differing speculative instruments and needs to accomplish this by enabling customers to purchase unions in physical gold, through shocking GOLD TOKEN that relies on the ERC-20 Ethereum Platform.
The chief capital theory Putting assets into gold is a based exertion on capital, making it hard for people with insignificant financing to go on an undertaking. Motorized Gold is a stage bunch between different ace units identified with cash, including both little and enormous capital theories enough purchasing gold through Digital Gold and incredible places of thankfulness in worth. A long purchasing structure and an excess of high welfare exertion The issues related with verifies physical metals to guarantee that they are dealt with securely are wonderful, and the issues related with acquiring physical gold. Announcing made by various work locales and the nonappearance of absence of definition for masters identified with gold coins are affirmed gives that are hard to persevere. With Digital Gold, notwithstanding, this issue doesn't exist considering the manner in which that budgetary specialists can make conundrum buys rapidly from their reduced pleasure or different instruments that help the web. Impelled Gold expels this repression/issue and offers contrasting suggestion respects.
CENTRAL POINTS OF DIGITAL GOLD STABLECOIN
The Digital Gold platform has an astounding internal cryptographic cold hard cash known as a Gold Token and every token is for all intents and purposes indistinguishable from one gram of 99.99% FINE gold set away in a connection safe, so you need to do a little math to discover how a ton of gold FINE you have to store . This prescribes when a customer has any size Gold tokens, they routinely have the gold set something aside for them in the alliance's vault. Moreover, tokens enable customers to purchase the ramifications of utilizing gold to trade cash, or use it as a riches accumulating methodology and that requires significant endeavors to accomplish.
Deal of Gold with Blockchain Innovation is authentication that the blockchain can irritate the budgetary market, show the upsides of this specific progression and simultaneously make digitalization of this Gold add to premium all through the world and the Gold Token and Digital Gold business focus won't be satisfactory for this amazing crowd.
One of the exercises that I balanced was to have a widely inclusive strategy of hypotheses. GOLD gives a perfect budgetary chance to place assets into one, for example, two particularly fluid markets (moved cash and gold) with solid potential for movement. Gold Digital Tokens gave on Ethereum are fun tokens with ERC20 appears. Moved Gold tokens offer a merger of one gram of 99% unadulterated gold. Digital Gold expenses are continually resuscitated utilizing spot gold costs with insignificant spreads. At whatever point Digital Gold tokens are acquired, a level of the gold identical is physically sent to the DigitalGold Ltd. safe.
CONCLUSION
The movement of the web and blockchain has changed joint business attempts and tried new types of progress for endeavors with the potential for developing goliath. Gone are the working noteworthy stretches of various administrative records, get a genuine guide/outsider for understanding progress and necessities, just to contribute. As more people, affiliations, divisions, and the economy keep dealing with the progress of the blockchain, Digital Gold will keep considering paying little personality to how you trust it to be a structure that is continually arranged to place assets into an especially fluid gold market that offers better than foreseen conditions. Thus put into gold. Why lock when you can work sharp? Why spend more assets utilizing existing and obsolete gold exertion procedures when general decisions exist? Why not discover more by visiting the Site, or checking the whitepaper. You can in like way look in the wake of trying to utilize the times of online structure affiliation media, for example, Facebook, Twitter and Messages for updates and deals.
Kindly visit the below website for more in depth knowledge about the project
Website: https://gold.storage/
Whitepaper: https://gold.storage/wp.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5161544
Telegram: https://t.me/digitalgoldcoin
Twitter: https://twitter.com/gold_erc20
Reddit: https://www.reddit.com/golderc20
Bitcointalk username: bosunbossman
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1197648;sa=summary
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Mario speaks: Congress should listen up

Mario speaks: Congress should listen up submitted by AngelaMotorman to politics [link] [comments]

Indiab Financial Sector

The Financial Stability and Development Council (FSDC) of the RBI on Friday reviewed recent developments in global and domestic economies and deliberated upon revisiting some existing laws to detect early warnings of instability. The FSDC Sub-Committee discussed measures to promote interest and competition in stressed asset markets, enhance the scope of Legal Entity Identifier to more effectively monitor group exposures and issues relating to credit rating agencies and audit quality.
-Economic Times
Finance Minister Nirmala Sitharaman in a press briefing today mandated the central public sector enterprises to pay outstanding dues to dealers and vendors by Oct 15. Sitharaman said that beyond that no excuses will be heard.
-Economic Times
The RBI has put Lakshmi Vilas Bank under prompt corrective action framework due to high bad loans and insufficient capital.
-Business Line
The Punjab and Maharashtra Co-operative (PMC) Bank has an exposure of ₹2,500 crore to real estate developer HDIL, which had stopped servicing it for the past 3 years or so, the bank’s former MD & CEO Joy Thomas admitted.
-Business Line
Lakshmi Vilas Bank today said it has got shareholders' approval to raise up to Rs 1,000 crore by issuance of securities. The resolution to raise funds by issuance of securities, including American Depository Receipt (ADR) and Global Depository Receipt (GDR), was approved by shareholders in the annual general meeting held on September 27, it said in a regulatory filing.
-Business Standard
Financially stressed Dewan Housing Finance Corporation Ltd (DHFL) said 2.3% of each category of lenders' debt exposure to it will be converted into equity at an assumed price of Rs 54 per equity share, as per the Corporation's proposed resolution plan.
-Business Line
The Ministry of Finance, in a notification dated September 28, 2019, announced that it has extended the deadline to link PAN with Aadhaar to December 31, 2019. Earlier this deadline was September 30, 2019.
-Economic Times
The Delhi High Court, Yesterday decided to examine the allegations, in a PIL by an NGO, of financial irregularities, siphoning of funds and other violations against the promoters of Indiabulls Housing Finance Ltd (IBHFL). The bench issued notice to the central government, the RBI and Indiabulls seeking their stand on the petition filed by an NGO.
-Economic Times
India's forex reserves declined by $388 million to $428.572 billion for the week ended September 20 due to a slide in core currency and gold assets, the Reserve Bank said on Friday. The overall reserves had declined by $649 million to $428.960 billion in the previous reporting week. They had touched a life-time high of $430.572 billion in August this year.
-Moneycontrol.com
 -#280919 
submitted by venuangamaly to indianews [link] [comments]

Indian Financial Sector

Public sector banks will embark on second round of 2-day bottom-up ideation exercise beginning Thursday for further streamlining the banking sector to help the nation become a USD 5 trillion economy in 5 years. The second leg of the month-long campaign will be inter-bank and will be held at state-level as per the direction of Department of Financial Services, Ministry of Finance. The first round was focussed at branch level and suggestions and ideas received from there will now be discussed at the state level from tomorrow, official sources said.
-Economic Times
Members of the RBI's Monetary Policy Committee at its rate review held on 7 August have agreed that supporting growth will remain their top priority in the midst of inflation remaining stable within the next 1 year, according to the minutes of the meeting released on today.
-Livemint
The Banks Board Bureau has invited applications for the post of MD & CEO in 4 leading PSBs — Bank of India, Bank of Baroda, Punjab National Bank and Canara Bank.
-Moneycontrol.com
The IL&FS had not disclosed any NPAs for the last 4 years, the RBI has said in a report. The report is based on inspection of IL&FS and IFIN and this has been conveyed by the new board of the IL&FS to the NCLT.
-Economic Times
SBI is planning to establish nearly 10 lakh YONO Cash Points in the country over 18 months, said its Chairman Rajnish Kumar today. The platform is secure and will eliminate the requirement of using debit cards, Kumar said.
-Business Line
BookMyForex.com, a marketplace for foreign exchange and remittances, has partnered with YES Bank to launch a co-branded multi-currency forex travel card for Indian overseas travellers. BookMyForex will offer zero margin or exact inter-bank rates 24x7 on forex card sales.
-Business Line
SEBI today provided more teeth to rating agencies by allowing them to obtain details of borrowings and defaults by companies. It also announced rewards for whistle blowers and approved changes in norms prohibiting insider trading.
-Economic Times
SBI Cards and Payment Services Pvt. Ltd, the credit card subsidiary of SBI, invited investment banks and lawyers to act as advisers for its proposed IPO.
-Moneycontrol.com
The finance ministry has initiated a review of India’s free trade agreement framework to assess the impact of such pacts on the overall economy. The view has been gaining ground among policymakers and industry that these free trade agreements (FTAs) brought little tangible benefit to India, while helping the partner country.
-Economic Times
IL&FS has informed NCLT that in contravention of a NCLAT order, banks have debited about Rs 759 crore in the last 8 months for repayment on their dues which amounts to coercive creditor action.
-Economic Times
Parle Products Pvt Ltd, a leading biscuit maker, might layoff up to 10,000 workers as slowing economic growth and falling demand in the rural heartland could cause production cuts, a Co executive said today.
-Business Line
The probe by the Enforcment Directorate in the money laundering case, involving former finance minister P Chidambaram, has been enlarged. It suspects his role in granting alleged illegal Foreign Investment Promotion Board clearances to at least four more business deals, apart from INX Media and Aircel-Maxis, and receiving multi-crore kickbacks through multiple shell firms, official sources said today. The CBI has issued a Look Out Circular P Chidambaram to prevent him from leaving the country, officials said.
-Business Line
USD/INR 71.55
SENSEX 37060.37(-267.64)
NIFTY50 10918.70 (-98.30)
 -#210819 
submitted by venuangamaly to indianews [link] [comments]

Indian Financial Sector

Indian consumers appear to show zero loss of appetite for cash despite Government’s numerous efforts to wean them away from currency notes and get them to transact digitally. Currency in circulation in India in the fortnight to July 5 was Rs 21.1 lakh crore, as against Rs 18.7 lakh crore in the same period last year, translating into growth of 13%.
-Economic Times
Finance Minister Nirmala Sitharaman today said Government has de-registered 4 lakh shell companies as the Lok Sabha approved a bill seeking to tighten CSR norms and ensuring stricter action for non- compliance of the Co law regulations. Piloting the Companies Amendment Bill 2019, the minister said companies not spending the mandatory 2% profit on Corporate Social Responsibility (CSR) activites for a total period of 4 years will be required to deposit the amount in a special account.
-Economic Times
RBI Governor Shaktikanta Das has expressed concerns over the impact of stressed trade negotiations and rising geopolitical tensions on global economy while backed the building up of forex reserves by emerging economies as safe-guard against global contagion.
-Economic Times
Punjab National Bank today reported a net profit of Rs 1,019 crore as compared to a net loss of Rs 940 crore recorded in the same quarter last fiscal.
-Business Line
The New Delhi-based agri services solutions firm Sohan Lal Commodity Management (P) Ltd said today that it entered into an agreement with SBI for collateral management and warehousing services. As part of the pact, SLCM will act as custodian of the commodities that SBI has taken as a security against loans, said a press statement.
-Business Line
The South Indian Bank has achieved a net profit of ₹73.26 crore in Q1 of FY19, against ₹23.04 crore during the corresponding period of the previous year. The bank’s operating profit has also grown to ₹317.63 crore from ₹269.64 crore.
-Business Line
The Mumbai bench of the NCLT, on Thursday, put a stay on its own order which had allowed the government’s plea to prosecute IL&FS’ erstwhile auditor, Deloitte.
-Business Line
Union Home Minister Amit Shah received a dividend cheque of Rs 15.26 crore from the representatives of the Repco Bank, a multi state cooperative finance and development bank controlled by the Home Ministry. The Repco Bank is a multi state cooperative society established in 1969 by the Central Government for rehabilitation of repatriates from Myanmar and Sri Lanka, an official statement said.
-Economic Times
Indian authorities are concerned that WhatsApp’s payment service might share user data with group companies Facebook & Instagram, compromising the security, privacy and non-commercial information of its subscribers. The Government has asked the NPCI to look into the matter and ensure that user data collected through payment services such as WhatsApp and Google Pay is not shared, top officials said.
-Economic Times
Muthoot Finance has halted gold loan processing and disbursal in several branches for about 3 days from Thursday. The NBFC did not respond to a query on the likely impact of the halt in gold loan disbursal on its business. It may be noted that the RBI had said earlier this week that it was seeing ‘signs of fragility’ and that it was constantly watching 50 NBFCs, including large ones.
-Business Line
USD/INR 68.89
SENSEX 37882.79 (+51.81)
NIFTY50 11284.30(+32.15)
 -#260719 
submitted by venuangamaly to indianews [link] [comments]

外媒:麾下企业股价大跌 脱欧让李嘉诚沦为香港最大输家ZT by 豪豪的爷爷 on 2016-06-27




资料图:李嘉诚
北京时间27日彭博报道,对于香港首富李嘉诚而言,英国脱欧可不是什么好消息。
面对英国出人意料地投票支持脱欧,李嘉诚麾下的长和以及长江基建集团股价下跌超过8%,成为香港基准股指中跌幅最大的个股。李嘉诚曾警告英国人不要脱欧,称脱欧对整个欧洲大陆都不利。
作为英国最大的投资者之一,李嘉诚的损失可谓惨重无比。他在英国运营着Superdrug和Savers商店、港口、Three电话服务以及天然气和电力输配业务。在他旗下的香港旗舰公司长和,去年息税前利润中有37%来自英国业务。
“无论从汇兑角度,还是从基本面收益和增长角度来看,李嘉诚的欧洲业务敞口都将在未来几年遭遇困境”,驻香港的咨询公司Value Investment Principals Ltd.的首席执行官Sandy Mehta表示。
英镑暴跌对长和利润不利。野村驻香港分析师Benjamin Lo称,英镑只要有1%的变动,该集团的经常性盈利就会有同方向0.5%的波动。过去两个交易日,英镑下跌约10%,创历史最大跌幅。
http://finance.sina.com.cn/stock/usstock/c/2016-06-27/doc-ifxtmweh2592841.shtml
submitted by robot301_01 to kfq [link] [comments]

Indian Financial Sector

MPs, state legislatures, or local bodies such as municipal corporations cannot be on the boards of public sector banks. Also, partners of chartered accountancy firms engaged as statutory central auditors at any PSB cannot join the boards of these banks, RBI said in an updated circular on fit and proper criteria in PSBs.
-Economic Times
The RBI clarified that banks and NBFCs cannot impose foreclosure charges / pre-payment penalties on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-obligant(s). The RBI has done away with foreclosure charges /pre-payment penalties on all floating rate term loans sanctioned to individual borrowers with effect from May 7, 2014.
-Business Line
IMPS is gaining traction and the number of transactions rose to 19 crores in July even as the transaction value for UPI and the Centre’s flagship digital payment app BHIM continued to decline for the second straight month. According to data released by the NPCI, IMPS hit a record high in July in terms of value, too. As many as 18.92 crore transactions amounting to over ₹1.82-lakh crore were conducted through IMPS in July against 17.13 crore transactions worth over ₹1.73-lakh crore in June.
-Business Line
Clearcorp Dealing Systems India Ltd (Clearcorp), a wholly owned subsidiary of Clearing Corporation of India Ltd, will launch its forex trading platform, FX-Retail, for the customers of banks on Aug 5. The FX-Retail platform will provide an anonymous and order driven dealing in US Dollar (USD) / Indian Rupee (INR) currency pair for bank customers -- individuals, sole proprietorship firms, partnership firms and corporates, Clearcorp said in a statement.
-Business Line
Corporation Bank registered a net profit of ₹103.27 crore in the first quarter of 2019-20 as against a profit of ₹84.96 crore in the corresponding period of the previous fiscal, recording a growth of 21.55%.
-Business Line
SBI today said the RBI has imposed a penalty of Rs 50 lakh on it for non-compliance relating to reporting of frauds.
-Economic Times
Oriental Bank of Commerce & Punjab National Bank today said the RBI has imposed a penalty of Rs 50 lakhs on them for non-compliance relating to reporting of frauds in the Kingfisher Airlines account.
-Economic Times
Bandhan Bank would open 187 new branches by the end of the current FY, taking the total number to 1,187, a top official said today. The bank would also open 340 doorstep service centres by 2019-20, MD & CEO Chandra Sekhar Ghosh said.
-Economic Times
Punjab & Sind Bank said it has declared NPA account Fairdeal Supplies Ltd as a fraud and has reported the matter to the RBI, it said in a regulatory filing.
-Economic Times
LIC Housing Finance reported an 8% increase in standalone net profit at ₹611 crore in the first quarter (Q1FY20) against ₹568 crore in the year-ago period.
-Business Line
Former RBI Governor Duvvuri Subbarao on Friday said that any government trying to “raid” the balance sheet of a central bank can be seen as a desperate move.
-Business Line
A spate of reforms undertaken by the Government has led to the current slowdown in the country, Amitabh Kant, the CEO of policy think-tank NITI Aayog, said. This came as a note of caution from the senior official as he was advocating a series of policy decisions to revive the economy.
-The Hindu
The country's forex reserves decreased by $727 million to $429.649 billion for the week ended July 26, led by a decline in foreign currency assets, RBI data showed on Friday.
-Moneycontrol.com
As the Rajya Sabha passed the Code on Wages, 12 Central Trade Unions, except the BMS, held protest across the country demanding the Centre to withdraw the proposed Labour Codes. Terming the 4 proposed codes anti-labour, the trade unions alleged that the Bills are being passed without any tripartite negotiations with trade unions, chambers of commerce and the Governments. They alleged that there is a conspiracy to take away the right to work for 8 hours and give the power to the State governments and the Centre to set working hours.
-Business Line
 -#030819 
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WeWork valuation before IPO fell from $47 billion to $ 20-30 billion

WeWork valuation before IPO fell from $47 billion to $ 20-30 billion
The WeWork coworking network has lowered its estimate before the IPO, due in 2019. The Wall Street Journal, Bloomberg and CNBC write about it citing their sources.
https://preview.redd.it/ffymny481zk31.jpg?width=640&format=pjpg&auto=webp&s=f9a719f68ff06e9b1702911d3d900701fff37b0e
Interlocutors of WSJ and Bloomberg say that WeWork expects an estimate of $ 20 billion to $ 30 billion. CNBC sources say that the forecast is $ 25 billion. These amounts are one and a half to two times lower than the estimate of $ 47 billion that WeWork received from private investors in January 2019.
The final estimate may still change depending on investor demand, Bloomberg points out. Now WeWork and its investors, including SoftBank, are discussing the terms of the sale of shares. According to the publication, the company expects to sell shares for $ 3.5 billion and plans to hold a series of meetings with investors and analysts until September 15.
According to WSJ, at the end of August, the head of WeWork, Adam Neumann, flew to Tokyo to meet with SoftBank CEO Masayoshi Son and discuss the possibility of additional financing for the company. According to sources, the parties discussed several options:
SoftBank will act as the primary investor during the IPO and will buy back most of the shares that WeWork expects to sell for up to $ 3-4 billion.
SoftBank is additionally investing in WeWork, which will allow the company to postpone its IPO until 2020.
The interlocutors of WSJ were not able to say whether SoftBank will ultimately additionally invest in WeWork. A WeWork representative declined to comment.
Founded in 2010, WeWork has raised more than $ 12 billion over nine years and is still unprofitable. It follows from the August prospectus that the company's loss in the first half of 2019 was $ 904 million with revenue of $ 1.5 billion.
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Indian Financial Sector

In a bid to deal with stress in NBFC sector, guidelines will be issued soon for PSBs to take over pooled assets of NBFCs, a finance ministry official said. "Both Department of Economic Affairs, and Financial Services are in consultation. The eligibility norms for takeover should be out this week or latest by next week," the official said.
The RBI will come out with a mobile application to help visually challenged people in identifying currency notes. The RBI said that identification of banknote denomination is key to successful completion of cash-based transactions by visually impaired persons.
-Business Line
SBI Payment Services Pvt Ltd (SBIPSPL) is planning to double the number of point-of-sale (PoS) units deployed by it to 1.2 million by 2021- 22 (FY 22). This is part of the Co’s strategy to be a key player in the Centre’s ambitious plan to increase the number of PoS terminals across the country.
-Business Standard
Led by LIC, life insurers’ collective new premium income jumped 94% to ₹32,241.33 crore in June this year, according to data from IRDAI. All the 24 life insurers had written new gross premium of ₹16,611.57 in the same month a year ago.
-Business Line
Dewan Housing Finance Corporation Ltd (DHFL) reported a huge standalone net loss of Rs 2223 crore in the fourth quarter ended March 31, 2019 against a net profit of Rs 134 crore in the year ago quarter.
-Business Line
Dewan Housing Finance Corp Ltd (DHFL), warned that its financial situation was so grim that it may not survive. The Co said it was "undergoing substantial financial stress" and its ability to raise funds was "substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements."
-Economic Times
Thomas Cook has refuted allegations that an investigation is underway concerning its forex business breaching the Rs 14.7 crore foreign exchange reserve mark at the Cochin International Airport. As per media reports, the Air Customs Intelligence department had initiated an enquiry against Thomas Cook and had written to the RBI demanding cancellation of the Co's license after an alleged 'misappropriation' occurred while granting foreign exchange to foreign nationals at the Cochin International Airport.
-Economic Times
9 of the 10 most valued firms suffered a combined erosion of ₹ 88,609.87 crore in market valuation last week, with HDFC Bank and TCS taking the biggest knock. Reliance Industries Ltd was the lone gainer among the top-10 frontline companies, adding ₹ 11,415.21 crore to its market capitalisation (m-cap) for the week ended Friday to reach ₹ 8,11,782.20 crore. On the other hand, HDFC Bank’s valuation plummeted ₹ 22,395.4 crore to ₹ 6,54,084.95 crore. The valuation of SBI tanked ₹ 6,291.85 crore to ₹ 3,24,454.25 crore and that of ICICI Bank dropped ₹ 5,925.68 crore to ₹ 2,75,568.83 crore.
-Business Line
 -#140719 
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Indian Financial Sector

Finance Minister Nirmala Sitharaman today said the NBFC crisis seems to have bottomed out and the Government along with the RBI will closely monitor the situation to ensure that the sector comes out of the wood. -Economic Times
In fresh trouble for Nirav Modi, the Pune bench of the debt recovery tribunal (DRT) has issued a recovery certificate and has directed the Nirav Modi to pay over Rs 7,200 crore to Punjab National Bank (PNB) and others. Today, the Pune bench of DRT, which also holds additional charge of Mumbai, passed an order in two cases filed by PNB. The presiding officer, Deepak Thakkar, has allowed the petitions filed by the PNB. -Economic Times
Punjab National Bank said today it has detected a fraud of more than Rs 3,800 crore by Bhushan Power & Steel Ltd (BPSL) and has reported it to the RBI. PNB said Bhushan Power & Steel Ltd misappropriated bank funds and manipulated its books of accounts to raise funds from consortium lender banks. -Economic Times
India’s foreign exchange (forex) reserves swelled by $1.262 billion to scale a fresh high of $427.678 billion in the week to June 28, boosted by higher foreign portfolio investments and a stable rupee, RBI data showed. -Business Line
Acting quickly on the government's second attempt to sell the financially-crippled Air India, its chief Ashwani Lohani has called a meeting of all the 13 unions Monday to discuss the terms of privatisation, according to sources. -Economic Times
 -#060719 
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Indian Financial Sector

Department of Financial Services (DFS) has informed that RBI is examining the priority sector lending norms for promoting export credit, Commerce and Industry Minister Piyush Goyal said.
-Economic Times
The Finance Ministry today said that it will look into the applicability of 20% tax proposed in the 2019-20 Budget on the current share buybacks by listed companies. Finance Secretary Subhash Chandra Garg, speaking at a CII event, said the proposed tax on listed companies is aimed at discouraging share buybacks and encouraging investments.
-Economic Times
The Indian Government had Rs 66,793 crore outstanding loans with the RBI under ways and means advances in the week ended July 5, according to the RBI weekly statistical supplement released today. The Central Government had Rs 6,596 crore outstanding loans in the week earlier. State governments had Rs 5,566 crore loans from the RBI in the week ended July 5, compared with Rs 1,661 crore in the previous week, the release showed.
-Economic Times
Even as the real estate industry complains of a slowdown in sales, a RBI survey has said that housing has become less affordable over the last 4 years. This indicates that developers are holding on to prices.
-Economic Times
NABARD today said it plans to raise about Rs 55,000 crore from the market in the current fiscal to fund its business growth and also support various agricultural and rural development schemes of the Government.
-Business Line
After the merger of Bank of Baroda with Dena Bank and Vijaya Bank, the amalgamated lender is focusing on integrating the sprawling technology systems of the 3 financial firms to provide a smooth customer experience. The IT heads of the 3 banks, which together have over 9,500 branches, began chalking out an integration strategy the moment the deal was announced. They, however, had some time before the required slew of approvals came in for the three-way merger.
-Economic Times
The Asian Infrastructure and Investment Bank will launch local currency financing products in India and some other countries this year to provide more options to borrowers, its president Jin Liqun has said. The multilateral development bank could start rolling out the product in pilot countries including India, Indonesia, Thailand and Russia from this month itself. It would focus on private sector clients, Jin said.
-Economic Times
SBI has waived charges on NEFT and RTGS transactions through internet and mobile banking from July 1, after the RBI decided to do away with the charges with an aim to move the country towards less-cash economy. The SBI has also decided to do away with the charges on fund transfer through mobile phones using the IMPS (immediate payment service) from August 1.
-Business Line
IndusInd Bank today reported a 38.30% year-on-year jump in consolidated profit at Rs 1,432.50 crore for the June quarter. The bank had reported a net of Rs 1,035.72 crore in the year ago period.
-Economic Times
UCO Bank is making all efforts to ensure that exporters who do business with Iran can approach its designated branches for help. The bank has increased the number of such designated branches (for doing business with Iran) from 22 to 67. It is now contemplating to set up an apex processing centre across its branch network to help exporters. “This could take another 6-7 months,” a top bank official said.
-Business Line
YES Bank as an issuing and paying agent, facilitated the issuance of a Commercial Paper of INR 100 Crores using Blockchain technology for Vedanta LTD, a natural resources conglomerate. This is the first time in Asia that a CP has been digitally issued using Blockchain technology.
-Moneycontrol.com
Axis Bank tied up with. Flipkart to launch a co-branded credit card and is aiming to sell 1 million of the new card in a year. The new co-branded card comes weeks after American lender CITI launched a similar offering by tying up with payments major Paytm.
-Economic Times
India’s industrial output growth slipped to 3.1% in May mainly on account of subdued performance of mining and manufacturing sector, according to Government data released today. The Index of Industrial Production (IIP) had expanded by 3.8% in May 2018. The index grew at 4.3% in April and 0.4% in March this year.
-Business Line
Retail inflation increased marginally to 3.18% in June over the previous month, mainly due to rise in food prices, according to official data. The retail inflation based on the Consumer Price Index (CPI) stood at 3.05% in May and and 4.92% in June 2018.
-Business Line
India's foreign exchange reserves rose to fresh record high of $429.91 billion as the country's gold and foreign currency assets increased in the week ended July 5. The forex reserves had touched record highs in the previous two weeks.
-Moneycontrol.com
The Government may approach the Ministry of Law and Justice for clarification on monitoring of the recently privatised IDBI Bank. The LIC in January 2019 acquired a 51% stake in the Bank, which reclassified it as a private sector financial institution.
-Moneycontrol.com
The NCLAT today said pension and PF that had invested in IL&FS would have top priority in payment from all categories of companies, whether classified as green, amber or red.
-Business Standard
Infosys today reported 5.2% growth in consolidated net profit to Rs 3,802 crore for the quarter ended June 30, 2019. It had posted a net profit of Rs 3,612 crore in the April-June 2018 quarter, Infosys said in a BSE filing.
-Business Line
USD/INR 68.68
SENSEX 38736.23(-86.88)
NIFTY50 11552.50(-30.40)
 -#120719 
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