Finance

11 stocks from China’s STAR Market to be added in FTSE Russell global benchmarks

Editorial Bureau February 20, 2021

SHANGHAI (CHINA) – Based on a post on its website on Friday, index provider FTSE Russell is all set to add 11 stocks from China’s STAR Market to its international benchmarks. The move marks the first time shares from Shanghai’s Nasdaq-style STAR Market for stocks in China have

Finance

Bitcoin, ether continue rally

Editorial Bureau February 20, 2021

SINGAPORE – In Asian trading on Saturday, the most popular cryptocurrency, bitcoin, hit a fresh high, extending its two-month rally which witnessed its market capitalisation cross $1 trillion a day earlier. Bitcoin climbed to a record $56,620, taking its weekly gain to 18%. It has spiked more than 92% this year. The cryptocurrency’s gains have […]

Finance

Elon Musk: Owning bitcoin only slightly better than holding cash

Editorial Bureau February 19, 2021

CALIFORNIA (US) – “Owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold, said Tesla Inc CEO Elon Musk on Thursday. “However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere,” Musk said in a tweet. “Bitcoin is […]

Finance

Will resume paying dividends of 1 pence per share: Barclays Bank

Editorial Bureau February 18, 2021

LONDON (UK) – Barclays Bank said on Thursday that is annual profit last year dipped by half, which is much less than predicted. Strong performance by its investment bank offset provisions against bad loans from the economic fallout of the coronavirus. It said it would restart paying dividends of 1 pence per share, as well […]

Finance

Dollar reaches five-month high against yen as US yields gets boost from inflation talk

Ren Leen February 17, 2021

TOKYO (JAPAN) – The dollar surged past low-yielding currencies on Wednesday, hitting a five-month high against the yen. This positive news for dollars came up, after US bond yields get a boost when it comes to the prospects of further economic recovery and a likely acceleration in inflation. Bitcoin saw itself trading just below the […]

Finance

Bitcoin spirals above $50,000 setting a new record

Editorial Bureau February 16, 2021

LONDON (UK) – Bitcoin surged above $50,000 on Tuesday setting a new record, adding momentum to a rally fuelled by signs that the biggest cryptocurrency of the world is gaining acceptance among mainstream investors. The cryptocurrency reached a new high of $50,602, and was last up 5% at $50,300. So far, it has surged 72% […]

Finance

Swiss competition watchdog begins probe of Mastercard

Editorial Bureau February 16, 2021

ZURICH (SWITZERLAND) – The Swiss Competition Commission (COMCO) has started a probe into Mastercard Inc’s alleged obstruction of SIX’s National Cash Scheme (NCS), a set of regulations regarding withdrawals and other transactions at ATMs of the bank, said the watchdog on Tuesday. “The obstruction occurs because Mastercard refuses to co-badge the NCS

Finance

Dollar swayed by doubts over speed of US recovery; bitcoin retreats from record high

Editorial Bureau February 15, 2021

TOKYO (JAPAN) – The dollar started the week after near two-week lows on Monday as questions clouded the minds of traders whether the recovery from the pandemic in the United States would match expectations. Bitcoin remained volatile, coming down to as low as $45,914.75 a day after reaching a record $49,714.66. It saw a surge […]

Finance

Euronext brings in Novelli as new chairman

Editorial Bureau February 15, 2021

PARIS (FRANCE) – Pan-European stock market operator Euronext said on Monday that it has roped in Piero Novelli, a co-president at Swiss bank UBS, to become its new chairman. He has been co-president of Investment Bank of UBS and a member of UBS’ executive board since October 2018. Novelli has also been an adviser to […]

Finance

Bitcoin comes close to $50,000, wider adoption triggers record rally

Ren Leen February 14, 2021

NEW YORK (US) – Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world’s biggest cryptocurrency. Bitcoin recently stood at $48,800 on Sunday morning, up 3.2%. It had traded as high as $49,714 earlier in the day. The cryptocurrency […]