Elder sibling Mukesh Ambani, 61, toppled China’s Jack Ma as Asia’s richest man, after driving a telecommunications revolution in India that propelled his petrochemicals conglomerate Reliance Industries Ltd. into the $100 billion club. His personal fortune had swollen to more than $40 billion as of Friday, according to the Bloomberg Billionaires Index, billions ahead of Ma and at similar levels to Microsoft Corp.’s former chief, Steve Ballmer.
Money Market
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Crypto Technicals Flash Pain Ahead, Eye Bitcoin at $4,000
A gauge of the 10 biggest, most liquid digital coins dropped to its lowest this year on Wednesday, triggering a flurry of technical studies. While Bitcoin, the largest cryptocurrency, hasn’t hit a similar trough since June 29, it’s attracting bearish calls as it slips below its 50-day moving average.
A hedge against crypto volatility?
Gold Silver Reports (GSR) – Banks and other Reserve Bank of India-regulated entities stopped servicing cryptocurrency exchanges last month, as per an RBI directive. But within a day or two, at least two cryptocurrency exchanges in India took the peer-to-peer trading route to enable crypto-rupee trading. Read here. P2P transactions, however, do not hedge you against price fluctuations, which can be significant in crypto markets, even in a short span.
How to Invest in Gold
Gold Silver Reports (GSR) – Gold is one of history’s most famous and important metals and has been the basis for monetary systems for thousands of years. Although no country today still uses the gold standard, the demand for the product as an alternative to fiat money has picked up in recent years thanks to the impressive stability of the precious metal.
Warren Buffett Still has the Magic Touch as Berkshire Profit Grows
Gold Silver Reports (GSR) – Berkshire Hathaway reported second quarter earnings of $6.89 billion on Saturday, up from $4.12 billion a year ago.
Railroads, utilities and energy added $1.89 billion while the insurance business added $943 million.
USD/INR Spot Above 68.78, Ready For Blast, Don’t Sell Target 69++++ Neal Bhai Reports
USD/INR Spot Above 68.78, Ready For Blast, Don’t Sell Target 69++++ Neal Bhai Reports
Technical Power of CFA’s
(CHARTRED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”
End to Ambani’s Telecom Price War May Be 185 Million Users Away
Gold Silver Reports (GSR) – The bruising telecommunications price war unleashed by the entry of Mukesh Ambani’s Reliance Industries Ltd into the sector may continue for at least a year or as long as it takes Reliance Jio Infocomm Ltd. to nearly double its user base.