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Digital currencies sold off after China’s central bank said all cryptocurrency-related transactions were illegal, according to a Q&A statement on the People’s Bank of China’s website. Bitcoin, the largest digital coin, fell as much as 8.9%, while Ether lost near 13%. The Bloomberg Galaxy Crypto Index, a gauge of some of the most-prominent cryptos, lost as much as 11%.

Shares in the cryptocurrency exchange closed on Friday at their lowest since Aug. 3 after China banned all crypto-related transactions. It’s the latest of several events that have pushed the stock 39% below its opening levels on April 14, the day it went public via direct listing.

Shares in Evergrande NEV tumbled as much as 25.8% on Friday, bringing losses for the year to 93%. In February, when the stock was at its peak, Evergrande NEV, which hasn’t mass produced a single car, was valued at more than Ford Motor Co. and General Motors Co.

Jhunjhunwala, who is referred to as the Warren Buffett of India, has invested Rs 260 crore in a new budget airline venture piloted by aviation veteran Vinay Dube. The airline is expected to launch operation soon. Dube told Times of India that SNV Aviation, the holding company of Akasa Airline, is awaiting a no objection certificate from the aviation ministry.

The poll aims to identify and recognise publicly listed companies in 2 categories: by country and by sector, in which it operates. Over 1,070 fund managers, analysts, bankers, and rating agencies took part in the voting which concluded on July 16, 2021.

The Federal Reserve has cut its 2021 U.S. growth forecasts and projects a 5.9% rate, versus 7% previously. Upcoming data will show if the coronavirus continues to undermine the recovery. Consumer confidence in September is on tap, after August readings came in well short of estimates, dropping to a six-month low.

While all of India Inc readies itself with price discounts and offers to bolster sales ahead of the Diwali rush, builders are offering discounts and gifts to home buyers, deferring payment plans, and also foregoing charges to tap into the revival in the property market.

The balanced advantage strategy run on the principal of generating returns by efficiently adjusting investment from one asset class to another. Building the balanced advantage strategy may sound easier, but it is a complex procedure.

Regions like North Asia, Europe and China compete over finite supply of fuels like coal & natural gas used to heat household & power factories. This has pushed the price of natural gas & electricity to record levels fueling inflation and threatening to stall the economic recovery; just when businesses reopen and people return to office.

Higher infrastructure spending by the government, an upturn in housing construction and an overall improvement in the macroeconomic conditions are expected to drive volumes in cement, paint and ceramic tiles. A number of players are expanding their businesses around the country, owing to increased customer base, enhanced effective operations, developed product portfolios and expanded geographical reach.