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Stocks, US Futures advance amid tariff speculation
Most Asian stocks rose Tuesday along with US equity futures amid speculation the Biden administration could scrap some Trump-era tariffs on Chinese consumer goods. Read more
Trading dries up on India crypto exchanges as new tax kicks in
Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect. Read more
Trade deficit at a record in June amid rupee slump
India’s trade deficit widened to a record in June, adding further pressure on the Indian currency, which has hit new lows against the dollar in the past weeks. Read more
Market regulator shifts focus to monitoring AIFs
The Securities and Exchange Board of India (Sebi) is often criticised for failing to enforce regulations on alternative investment funds (AIFs) with consistency. However, a recent Sebi order indicates a change in approach and shows that perhaps monitoring, investigation, and enforcement with regard to such funds is increasing. Read more
New norms disallow service fees at eateries
The government on Monday dealt a blow to restaurateurs across the country with the Central Consumer Protection Authority (CCPA) disallowing them from adding a service charge to food bills. Read more
NSE’s international exchange finds few takers for US stocks
NSE International Exchange, or NSE IFSC Ltd, offers trading in 50 popular US stocks such as Apple, Amazon, and Tesla. Yet, investors don’t seem impressed—none of the scrips has witnessed active trading over the past few sessions, data from the company’s website showed. Read more
Crypto startups are betting on rewards, cashbacks, ETFs
Cryptocurrency and investment startups are betting on cashbacks, rewards, fixed interest investment schemes and exchange-traded funds (ETFs) to keep trading volumes from falling drastically as the government enforces its new tax deducted at source (TDS) rule.The government had announced a 1% TDS on crypto transactions effective 1 July. Read more