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Sebi to review how mutual funds value gold & silver

Sebi to review how mutual funds value gold & silver

Time of India6 days ago
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NEW DELHI: Markets regulator Sebi is considering a review of the valuation methodology for physical gold and silver held by mutual funds through exchange-traded funds (ETFs) to ensure greater consistency and better alignment with prevailing domestic market prices.
In this regard, Sebi has proposed that AMCs should use spot prices published by domestic commodity exchanges to value gold and silver, replacing the current practice of using LBMA prices, according to its consultation paper on Wednesday.
It is also looking to identify a uniform domestic benchmark and make the detailed polling mechanism for spot price determination publicly available.
Currently, gold held by any gold ETF scheme is required to be valued at the AM fixing price of the London Bullion Market Association in US dollars per troy ounce for gold having a fineness of 995.0 parts per thousand.
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UPI and Paypal to join hands: UPI payments on foreign e-commerce sites and during overseas travel may soon be a reality
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Economic Times

time15 minutes ago

  • Economic Times

UPI and Paypal to join hands: UPI payments on foreign e-commerce sites and during overseas travel may soon be a reality

ET Online NPCI has not officially clarified on when UPI will go live on PayPal World Soon, you will be able to make UPI payments on your favourite international e-commerce sites, without stressing about those hefty currency conversion fees, markup, and processing charges that come with international credit card transactions. According to a press release from PayPal, the online payment giant, they are working on a new platform called PayPal World, which aims to bring together various online payment systems and digital wallets globally so that they can all work together seamlessly. As part of this initiative, PayPal today announced a partnership with NPCI International, indicating that UPI users soon will be able to do P2P (peer-to-peer) transactions with PayPal users. In other words, they'll be able to send money to each other from anywhere in the world. Right now, this feature is only available for Venmo, a popular US-based payment service. Additionally, UPI users may soon have the chance to shop online and potentially even in physical stores at millions of locations worldwide that accept PayPal. This feature is expected to roll out for Venmo starting in 2026, according to the press release. How will this impact Indian UPI users? ET Wealth Online decodes What does the PayPal World-UPI collaboration mean for Indians? PayPal World is set to launch before the end of this year. It's a payment platform that allows people to make international transactions using their local payment service or digital wallet. In the initial stage, it has teamed up with 4 payment services across the world, and UPI is one of them. These are: Mercado Pago, a popular payment service provider in Latin America NPCI International Payments Limited (UPI) Tenpay Global (China), which operates Weixin Pay Venmo (USA) The platform will allow interoperability across these platforms, meaning an Indian will be able to send money to their relative's PayPal account in the US using their UPI account. Similarly, if you want to buy some dresses online from a store in the US, right now, you need to log onto your PayPal account, click 'send and request', enter the recipient's details and amount, and choose your payment method, which can either be your linked bank account or your debit or credit card. Once UPI goes live on PayPal, users will notice the UPI button when they click on the PayPal button at checkout, allowing them to finish their transaction. For example, if you are on vacation in the USA and find a store that only accepts PayPal, you can just open your PayPal app and scan to pay with your UPI account. 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We are not what you think: How Greece made a case for diaspora to return
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First Post

time15 minutes ago

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We are not what you think: How Greece made a case for diaspora to return

Roughly 600,000 Greeks, mostly young, skilled and university-educated, left the country between 2010 and 2021 due to the economic meltdown. Athens is now making effort to reverse the brain drain read more Greece is reaching out to its skilled expats scattered across Europe, urging them to come back home as part of a broader effort to reverse the brain drain sparked by the 2010 debt crisis. Even with challenges like low pay and limited career opportunities, there are signs that some are considering a return. Labour minister tours Europe Labour Minister Niki Kerameus is leading the charge, hitting the road in cities like London and Amsterdam alongside Greek employers to persuade young professionals that Greece has transformed. 'People often see us as the representatives of the state that drove them away,' she was quoted as saying by the Financial Times. 'The biggest challenge is proving that today's Greece has nothing to do with the Greece of 2010 or 2012,' the minister said. STORY CONTINUES BELOW THIS AD Brain drain Roughly 600,000 Greeks, mostly young, skilled and university-educated, left the country between 2010 and 2021 due to the economic meltdown, leaving behind a shrinking workforce and a shortage of skilled professionals. Surveys from BrainRegain highlight low wages, scarce job prospects, and distrust in the system as major hurdles for those thinking of returning. Still, 2023 marked a turning point: for the first time since 2009, more people returned to Greece than left. Eurobank's Chief Economist Tassos Anastasatos noted that 60 per cent of these returnees were aged 20 to 44, a key group for the job market. Government offers incentive To sweeten the deal, the government is offering perks like a 50 per cent income tax cut for seven years, which has helped about 6,000 people since 2020. But officials stress that money alone won't cut it—changing how people view Greece is just as crucial. The 'roadshow' kicked off in 2024 and will hit New York later this year. Companies like Aegean Airlines, Piraeus Port Authority, Deloitte, and Lidl are on board, some even offering jobs on the spot. Challenges Despite a 28 per cent rise in average wages since 2016, most professionals earning over €1,600 a month are barely keeping up with inflation. Bank of Greece advisor Dimitris Malliaropulos put it bluntly: 'There can be no growth without human capital,' stressing the need for better pay and ongoing education policies. One returnee, Avgousta Stanitsa, an architect and AI researcher, moved back to Athens from the UK while five months pregnant. She landed a job at EY through a government career fair. 'The fact that my pregnancy wasn't seen as a barrier really impressed me,' she said, noting a shift in workplace attitudes toward motherhood and work-life balance. While Greek salaries don't match UK levels, Stanitsa said the tax breaks help her maintain a decent quality of life.

Global markets gain, deal on Trumps tariffs lifts Japans Nikkei 3.5 per cent
Global markets gain, deal on Trumps tariffs lifts Japans Nikkei 3.5 per cent

News18

time31 minutes ago

  • News18

Global markets gain, deal on Trumps tariffs lifts Japans Nikkei 3.5 per cent

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