Market Bizzz

The US-based company’s decision to allow clients to use the Unified Payments Interface (UPI) – a key digital payments railroad – to make rupee deposits for buying cryptocurrencies in India is under regulatory scrutiny, said sources directly briefed on the matter.

After being a crusader for economic growth during his entire first term and the first few months of the second despite an inflation targeting mandate, Governor Das has taken a U-turn as price pressures threaten to get out of hand due to war that adds fuel to already soaring prices.

The working group will recommend an alternative set of eligibility criteria for entities to act as sponsor; review the existing eligibility requirements for being a sponsor; recommend mechanisms for addressing conflict of interest that may arise if pooled investment vehicles/ private equity act as sponsor.

In Honduras, the Central Bank has said it cannot vouch for cryptocurrency transactions.

Asian shares opened on the back foot Friday morning, extending a selling-off this week fuelled by concerns about the Federal Reserve’s plans to aggressively tighten monetary policy to fight inflation. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.13 per cent.

IT major Infosys and industrial technology firm Rolls-Royce on Thursday launched a joint aerospace engineering research centre in Bengaluru.

A 13D filing on Tuesday showed that Musk had bought a 9.1 per cent stake in Twitter but a disclosure to the US Securities and Exchange Commission a day earlier had Musk owning 9.2 per cent. This lead to speculation that the Tesla CEO had reduced his stake.

GLOBAL-PRECIOUS/PRECIOUS-Gold edges lower as dollar gains on hawkish Fed minutes