As we all know that Bitcoin is getting much more popular and changing the payment system across the globe. One big proof of it is that it has been added to the Oxford English Dictionary (OED) with a new term to its list: Satoshi, the smallest unit of Bitcoin. This was a part of the quarterly update that the company does every three months to remains always updated with the current trend in language.
According to the report of the new blog post of the OED, the word was first used seven years ago, and the names come from the creator of the Bitcoin only, Satoshi Nakamoto.
This is not the first crypto-related word that has been added to the OED. In the year 2013, the dictionary added the term Bitcoin as well and defined it as a digital currency that can be used to perform the transactions without the need for a central bank.
The announcement notes which has been revealed:
“A satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin.”
In the following year itself, cryptocurrency was also accepted as a word by the dictionary. The term was defined as a digital currency that is even encrypted and can be used to transfer the funds, as well as to operate independently as a central bank.
Some other words which are related to the crypto world include the miner and Blockchain. Some of these words, moreover, are only available in the Oxford Dictionaries Online (ODO). The main difference between the OED and ODO is that the OED never removes a word and is more focused on how the language changes over the period of time while, on the other hand, ODO is focused on its contemporary and practical uses.
Bitcoin has also been named the Term of the year in the year 2017 by the Investopedia, which is an online encyclopedia that can be used as a learning resource for the people all across the globe. Bitcoin is also been recognized as a popular decentralized payment system by the Investopedia.
Currency Futures in India | USD INR Futures
Meaning of futures: Future is a type of derivative financial instrument that provides an opportunity for the investors to exchange an underlying asset at a fixed price at a future date which is predetermined today. The investor can trade the underlying asset on the expiry date at the predetermined price regardless of what the current market price is. These are used for speculation or hedging purposes.
Types of Futures contracts
Various types of futures are available in the market:
- Currency futures
- Commodity futures
- Stock index futures
- Interest rate futures
- Individual stock futures
Meaning of currency futures
Currency future is an exchange-traded futures contract that determines the price of one currency at which another currency can be bought or sold at a future date. These are legally binding contracts. They are usually used for hedging or speculation activities.
Are currency futures popular in India?
The currency futures were introduced in 2008 in India and since then, the value and volumes have increased steadily. In 2019-20, NSE posted a total turnover of Rs. 41,10,022.58 crores in the currency futures section while the total turnover for the currency derivatives was around Rs. 82,67,678.23 crores. The development in the segment can be measured by the steady increase in the turnover over the years. The total turnover in the currency futures segment in 2008-09 was Rs. 1,62,272.43 crores which rose to Rs. 37,65,105.33 crores in 2012-13 and then to Rs. 46,54,927.35 in 2018-19. The growth in the currency futures market shows the higher demand for price transparency among the investors. The traders in India including both exporter and importer, in genuine have the need to hedge their risk against currency fluctuation.
How to trade in currency futures?
NSE and BSE both have a currency futures segment. Even the Metropolitan Stock Exchange of India (MSEI) has a currency futures segment. All the leading brokers play a major role in this market and one can trade through them. It is very similar to trading in the stock market, the only difference is that the underlying asset, in this case, is a currency cross, i.e., USD INR, instead of normal stocks. Trading can also be done through a trading app of any of the brokers.
FATF’s given sharp warning to Pakistan on terror funding
The Financial Action Task Force (FATF) on Friday warned Pakistan it faced the possibility of being added to the watchdog’s “blacklist” and face greater scrutiny of all transactions in its financial system if it fails to fully implement an action plan to counter terror financing by June.
A statement issued by the multilateral watchdog’s president, Xiangmin Liu of China, ” that all deadlines for the 27-point action plan had expired and expressed concerns at Pakistan’s failure to implement the plan according to agreed timelines”.
The FATF, which has been repeatedly assessing Pakistan’s efforts to implement the action plan since the country was placed on the watchdog’s “grey list” in June 2018, said Islamabad has “largely addressed” only 14 of the 27 action items, with “varying levels of progress” on the rest of the plan.
The statement said “All deadlines in the action plan have expired. While noting recent and notable improvements, the FATF again expresses concerns given Pakistan’s failure to complete its action plan in line with the agreed timelines and in light of the [terror financing] risks emanating from the jurisdiction.
It added that “The FATF strongly urges Pakistan to swiftly complete its full action plan by June 2020″. Otherwise, should significant and sustainable progress especially in prosecuting and penalising [terror financing] not be made by the next Plenary, the FATF will take action, which could include the FATF calling on its members and urging all jurisdiction to advise their to give special attention to business relations and transactions with Pakistan.”
The FATF listed eight specific areas that Pakistan should focus on while implementing its action plan to address “strategic deficiencies”, including “effective implementation of targeted financial sanctions 1267 and 1373 designated terrorists and those acting for or on their behalf, including preventing the raising and moving of funds, identifying and freezing assets and prohibiting access to funds and financial services”.
Among the UN-designated terrorists active on Pakistani soil are Lashkar-e-Taiba founder Hafiz Saeed, who was given a five-and-a-half year prison term in two terror financing cases four days before the FATF meetings began in Paris, Jaish-e-Mohammed chief Masood Azhar and mob boss Dawood Ibrahim.
SBI Cards IPO subscription start on March 2
The initial public offering (IPO) of SBI Cards and Payment Services, the credit card unit of the country’s largest lender State Bank of India (SBI) of Rs 9,000-crore, will open for subscription on March 2. The company had already filed draft IPO papers in November last year, obtained “observations” from the Securities and Exchange Board of India (Sebi) on February 11. “The IPO will open for subscription on March 2 and close on March 5,” SBI said in a regulatory filing.
“Further it said that the “SBI has been informed by SBI Cards that, in compliance with applicable law, including, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Anchor Investors shall bid one working day prior to the bid/offer opening date, being February 28, 2020,”.
Further, the subscription period for qualified institutional buyers (QIBs) will close one working day prior to the closing date on March 4″.
According to the draft papers, SBI Cards will offer up to 130,526,798 equity shares through an offer-for-sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group. In addition, the company will also issue fresh equity shares of Rs 500 crore.
SBI holds 76 percent in SBI Cards and the rest of the stake is held by Carlyle Group. SBI Cards is the second-largest credit card issuer in India with an 18 percent market share. SBI Cards was launched in October 1998 by SBI and GE Capital. In December 2017, State Bank of India and The Carlyle Group acquired GE Capital’s stake in the Company. ISTSBI holds 76 percent in SBI Cards and the rest of the stake is held by Carlyle Group. SBI Cards is the second-largest credit card issuer in India with an 18 percent market share.
Top trading strategies for beginners
Are you interested in investing? Many people are interested in investing, but they are not aware of the investment type they should select. Most investors in Hong Kong suggest ETFs because they believe it is one of the best options for naïve investors. When you are not aware of the market, you will struggle, but if you have selected ETF, you will not find it complicated. Of course, it will be confusing and a bit difficult initially, but for beginners, there will not be a better choice. You can enjoy a lot of benefits if you select this type of investment.
The abundant liquidity is one of the main reasons why you should select ETF as a beginner. But that’s not all; there are many other reasons such as low expense ratio, investment choices, low investment threshold, diversification, and the list will go on. We don’t sugarcoat things, so you should know that ETFs have disadvantages as well. However, many features make ETFs the perfect investing vehicle. As a beginner, you must know the top trading strategies, so let us help you.
Trade with a high-end broker
Before you start to develop your trading strategy, you must find a high-end broker like Saxo. Never think you can make a huge profit from this market by trading the market with the low-end broker. Once you find such a broker, it’s time to develop your trading strategy. Some of you might buy an expensive trading system from a pro trader but it will never help. You need to stick to your trading rules and trade the market with proper logic. Forget about aggression and trade the market in a conservative way. Take your time and within a short period, you will become successful at trading.
Dollar-Cost Averaging Strategy
This is the basic strategy that any beginner can try if they are trading Exchange traded funds. The dollar-cost averaging technique is pretty simple, which is why beginners should start their journey with this. Instead of this, if you try to use any other complicated strategies, you might assume that trading is hard. Even though it is not the case, the strategy that you select has a huge impact on your trading journey. Hence, don’t take it lightly. This particular strategy is about purchasing a fixed-dollar amount of assets on a fixed schedule, even if the asset cost changes, this will continue. Normally, beginners are youngsters with a stable income source so you can set aside a certain amount and invest it in ETFs instead of looking for low-interest savings. It is important to look at the benefits and drawbacks when you are making a decision. If you do, you will be able to make the right decision.
Asset Allocation Strategy
This is another top strategy that you must try as a beginner. This is about diversification. You might have to allocate a particular portion of your portfolio to other categories such as bonds, commodities, bonds, stocks, and cash. It is pretty easy to understand the reason why you must consider this strategy. If you want to diversify your risks, this is the best method you can find. As per the asset allocation of the beginners, the rate of risk will also reduce.
The seasonal trending bet
A beginner’s best tool is the seasonal trending bet so they can capitalize on it. You must make sure to dig deeper into the information and seasonal trends so that you can understand more about it before betting on it.
There are many features and advantages of ETFs, so if beginners are trading, they can consider ETF as the best choice. There are many strategies for trading ETFs, but the ones we mentioned above are great for beginners. The main reason is the simplicity of the strategies. Hence, you must utilize these strategies in trading.
World richest Jeff Bezos will spend $10 billion to fight with climate change
Amazon founder Jeff Bezos said Monday that he “plans to spend $10 billion of his own fortune to help fight climate change”. Bezos, the world’s richest person, said in an Instagram post that “he’ll start giving grants this summer to scientists, activists and nonprofits working to protect Earth”. Bezos said in the post “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change,” .
Amazon, the company Bezos runs, has an enormous carbon footprint. Last year, Amazon officials said “the company would work to have 100% of its energy use come from solar panels and other renewable energy by 2030”.
The online retailer relies on fossil fuels to power planes, trucks and vans in order to ship billions of items all around the world. Amazon workers in its Seattle headquarters have been vocal in criticizing some of the company’s practices, pushing it to do more to combat climate change.
Bezos said in the “post Monday that he will call his new initiative the Bezos Earth Fund. An Amazon spokesman confirmed that Bezos will be using his own money for the fund”.
Despite being among the richest people in the world, Bezos only recently became active in donating money to causes as other billionaires like Bill Gates and Warren Buffett have done. In 2018, Bezos started another fund, committing $2 billion of his own money to open preschools in low-income neighborhoods and give money to nonprofits that help homeless families.
Bezos founded Amazon 25 years ago, has a stake in the company that is worth more than $100 billion. In September, Bezos announced Amazon’s climate pledge to get the company carbon-neutral by 2040, 100% renewable energy by 2o30, and 100,000 electric delivery vehicles by 2030.
The move follows pressure from Amazon employees to push the company to do more to fight climate change. More than 350 employees signed a Medium blog in January calling for net-zero emissions by 2030, among other requests.
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