The eNaira, which took several years to develop, will “make financial transactions easier and seamless for every strata of the society,†the Central Bank of Nigeria said in emailed statement on Saturday. The digital currency will complement the physical naira.
Made possible due to the power of the blockchain, DAOs are a natural evolution of DeFi applications and have revolutionized governance through community-led voting mechanisms, involving holders of its native tokens. This self-governance model makes these DAOs truly autonomous and grants its native token holders full rights over the decision-making process in addition to a commensurate share of distributing fees, further enhancing the overall proposition for new investors to join these networks.
News that the former president’s nascent media enterprise, Trump Media & Technology Group, is planning to go public via a special purpose acquisition company has sent retail investors into a frenzy. The stock gain drove the implied value of the new venture to more than $8.2 billion. Based on figures from press releases and filings to the SEC it appears Trump will own more than 50% of the combined company. At its current value, that would make him the richest he’s ever been.
Profit booking in blue-chip stocks after a recent rally also weighed down benchmark indices with the BSE Sensex slipping 0.79 per cent to 60.821.62 during the week. The BSE midcap index lost 4.24 per cent to settle at 25,566.64 while the smallcap index shed 5.21 per cent to close at 28,336.31 per cent.
The bulk of the lenders filling up the rosters of prominent P2P platforms are return-hungry retail investors and traders with surplus cash flows. Low fixed-income returns prompting these high net worth individuals and family offices are writing large cheques favouring borrowers on these platforms.
“My bet is in India the bull market would be longish and the midcycle phase would persist for one-two years at least, if not more. There will be lowish but reasonable returns in Nifty. We will have volatile returns in small and midcaps.â€
“We are just at the start of a good economic growth phase and that should lead to a multiyear earnings recovery cycle which we have not seen for almost a decade now. It should help the markets to continue to move up. â€
​Non-interest income growth also was healthy led by fees from retail, business banking and SME customers. Fee income grew by 21% year-on-year to Rs 3,811 crore from Rs 3,139 crore (US$ 423 million) a year ago. ​Treasury income fell to Rs 397 crore from Rs 542 crore a year earlier and included a gain of Rs 305 crore from sale of shares of ICICI Securities.
The $1.01 billion notes due 2026 would ultimately be used by CA Magnum to help finance the purchase of a 95.4% stake in Indian IT company Hexaware.
The bank in a filing to BSE said its provisions (excluding provision for tax) declined 9 per cent YoY to Rs 2,714 crore from Rs 2,995 crore YoY. Gross non-performing assets (NPAs) as percentage of gross advances fell to 4.82 per cent from 5.15 per cent in June quarter and 5.17 per cent in the same quarter last year.
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