National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

A recent survey says, India has zero probability of slipping into recession while other Asian economies have largely remained resilient to economic headwinds as compared to Europe and the United States.

Survey: India has zero probability of slipping into recession

Zimbabwe has launched gold coins to be sold to the public in a bid to tame runaway inflation that has further eroded the country’s unstable currency.

Zimbabwe launches gold coin as currency to battle extreme inflation

Byju's, the India's startup is now in the news for all the bad reasons and for its mounting troubles. There has been a lot brewing lately at the Bangalore headquartered EdTech unicorn Byju's. The company has been facing a series of allegations recently pertaining to its finances.

Edtech Unicorn Byju's denies allegations of finance troubles, mass layoffs

A profit warning by Walmart ignited a sell-off in shares of major US retailers, quickly evaporating over $100 billion in stock market value in extended trade.

US retailers' stock tumble after Walmart cuts profit forecast

South Korean economic growth unexpectedly picked up in the second quarter as strong consumption on eased COVID-19 restrictions offset poor exports, supporting the case for further central bank interest rate hikes.

South Korea's economy unexpectedly speeds up

Playing down recession fears, President Joe Biden of United States said he does not expect that US will suffer an economic downturn. Although the GDP figures due later this week may show the economy has shrunk for second consecutive quarter.

US President Joe Biden plays down recession fears

Six years ago, in April 2016, a product was launched by the National Payment Corporation of India (NPCI) called Unified Payment Interface (UPI). At that time, nobody had thought that this made in India product would bring a revolution in the fintech market in India. UPI recorded the highest single-month transaction in May 2022. According to data released by the NPCI, UPI processed more than Rs 10 lakh crore worth of transactions in May alone by processing nearly 6 billion payments.

Today, apps like Phonepe, Paytm, Google Pay, and others have become a crucial part of everyone's lives. But when UPI was launched initially, experts, including banks, were suspicious of its acceptance in a market like India. The reasons were less financial inclusiveness and low financial literacy. However, India has proved all experts wrong. Today it is considered a highly innovative product in the world's payment market. In 2019, Google wrote a letter to "FedNow"—an interbank real-time gross settlement service (RTGS)—detailing the successful example of UPI based digital payment and suggesting that they can learn from innovations like these.

The global ambition of UPI is also on the right track. UPI has gained acceptance in Singapore (March 2020), Bhutan (July 2021), UAE &amp; Nepal (Feb 2022). On June 17, 2022, the National Payments Corporation of India (NPCI) announced that UPI and Rupay cards (Indian payment cards) will soon be accepted in France. NPCI has already signed an MOU with Lyra, a France-based payment service provider. According to sources, NPCI is also eyeing other Asian markets like Malasyia, Thailand, and Vietnam. Without a doubt, UPI has the potential to be the first made in India product to cause a stir in the payment market. This will give great confidence to the Indian government, which is trying very hard to project India as a manufacturing and innovative hub. 
 
(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Six years ago, in April 2016, a product was launched by the National Payment Corporation of India (NPCI) called Unified Payment Interface (UPI). At that time, nobody had thought that this made in India product would bring a revolution in the fintech market in India.

Six years ago, in April 2016, a product was launched by the National Payment Corporation of India (NPCI) called Unified Payment Interface (UPI). At that time, nobody had thought that this made in India product would bring a revolution in the fintech market in India. UPI recorded the highest single-month transaction in May 2022. According to data released by the NPCI, UPI processed more than Rs 10 lakh crore worth of transactions in May alone by processing nearly 6 billion payments. Today, apps like Phonepe, Paytm, Google Pay, and others have become a crucial part of everyone's lives. But when UPI was launched initially, experts, including banks, were suspicious of its acceptance in a market like India. The reasons were less financial inclusiveness and low financial literacy. However, India has proved all experts wrong. Today it is considered a highly innovative product in the world's payment market. In 2019, Google wrote a letter to "FedNow"—an interbank real-time gross settlement service (RTGS)—detailing the successful example of UPI based digital payment and suggesting that they can learn from innovations like these. The global ambition of UPI is also on the right track. UPI has gained acceptance in Singapore (March 2020), Bhutan (July 2021), UAE & Nepal (Feb 2022). On June 17, 2022, the National Payments Corporation of India (NPCI) announced that UPI and Rupay cards (Indian payment cards) will soon be accepted in France. NPCI has already signed an MOU with Lyra, a France-based payment service provider. According to sources, NPCI is also eyeing other Asian markets like Malasyia, Thailand, and Vietnam. Without a doubt, UPI has the potential to be the first made in India product to cause a stir in the payment market. This will give great confidence to the Indian government, which is trying very hard to project India as a manufacturing and innovative hub. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Digital payment revolution in India and its global ambition

Mr. Punit Goenka, Managing Director &amp; Chief Executive &nbsp;Officer of the leading content company, ZEE Entertainment Enterprises Ltd. (ZEEL) was conferred with the coveted Game-Changer of the Year award at the International Advertising Association’s (IAA) Leadership Awards held in Mumbai.&nbsp;

Mr. Goenka was awarded the esteemed honour for his invaluable contribution towards the growth of the media and entertainment sector. He has also been credited for scripting the success story of ZEE in a year that tested the resilience and agility of businesses across sectors.

Crediting this recognition to all the teams at ZEE, Mr. Goenka said, “This is not only an encouragement, but a firm testament that we have indeed been taking the right steps and marching ahead. This win belongs to every member of the ZEE family who has consistently strived to achieve success and generate higher value for all our stakeholders.”

As the MD &amp; CEO of ZEE, Mr. Goenka has been extremely successful in enhancing the company’s performance and driving the business towards its set goals by not just creating quality entertainment content, but also by bringing about a positive change across the society. His futuristic vision and sharp acumen in the media domain has enabled ZEE to become the frontrunner in the entertainment sector, leading the company to achieve a global stature today.&nbsp;

Under his able leadership, ZEE has successfully expanded into international markets, with a presence across 190 countries, and its reach to over 1.3 billion viewers today across consumption platforms.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Mr. Punit Goenka, Managing Director & Chief Executive Officer of the leading content company, ZEE Entertainment Enterprises Ltd. (ZEEL) was conferred with the coveted Game-Changer of the Year award at the International Advertising Association’s (IAA) Leadership Awards held in Mumbai.

Mr. Punit Goenka, Managing Director & Chief Executive Officer of the leading content company, ZEE Entertainment Enterprises Ltd. (ZEEL) was conferred with the coveted Game-Changer of the Year award at the International Advertising Association’s (IAA) Leadership Awards held in Mumbai. Mr. Goenka was awarded the esteemed honour for his invaluable contribution towards the growth of the media and entertainment sector. He has also been credited for scripting the success story of ZEE in a year that tested the resilience and agility of businesses across sectors. Crediting this recognition to all the teams at ZEE, Mr. Goenka said, “This is not only an encouragement, but a firm testament that we have indeed been taking the right steps and marching ahead. This win belongs to every member of the ZEE family who has consistently strived to achieve success and generate higher value for all our stakeholders.” As the MD & CEO of ZEE, Mr. Goenka has been extremely successful in enhancing the company’s performance and driving the business towards its set goals by not just creating quality entertainment content, but also by bringing about a positive change across the society. His futuristic vision and sharp acumen in the media domain has enabled ZEE to become the frontrunner in the entertainment sector, leading the company to achieve a global stature today. Under his able leadership, ZEE has successfully expanded into international markets, with a presence across 190 countries, and its reach to over 1.3 billion viewers today across consumption platforms. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

ZEE MD & CEO, Punit Goenka honoured as GameChanger of the Year at the IAA Leadership Award

Central banks around the world are raising interest rates to tame the price rise. European Central Bank has hiked interest rates recently but what is the ground situation on inflation front ?

European Central Bank surprised markets with price  hike

India's Infosys Ltd reported June-quarter profit that missed estimates, hurt by higher employee expenses, but the IT services company raised its annual revenue outlook, citing a strong demand outlook.

Infosys misses profit estimates in Quarter 1

Credit Suisse is considering how it could cut costs further after a dismal performance by the embattled bank in the past quarter, SonntagsZeitung reported, citing senior sources.

Credit Suisse eyes more cost cuts: Reports

Twitter saw a fall in quarterly revenue and a net loss of 270 million dollars. The social media giant blamed Elon Musk backing out of the acquiring Twitter for the loss, they also blamed the weakening of the digital advertising market.

Social Media giant Twitter blames Elon Musk for $270 million loss

US Treasury Secretary Janet Yellen said on Sunday that US economic growth is slowing and acknowledged the risk of a recession, but also stated that a downturn was not inevitable.

US recession not inevitable: Janet Yellen

India's foreign exchange reserves fell by $7.5 billion to $572.712 billion in the week ending July 15.

The rupee had fallen&nbsp;by 5 paise to close at 79.90 against the US dollar after touching 80.06 against the US dollar on Thursday. As the rupee fell against the US dollar, RBI governor Shaktikanta Das said "you buy an umbrella to use it when it rains!"

<a href="https://www.wionews.com/business-economy/sbi-becomes-indias-most-valuable-listed-psu-499583">Also Read:&nbsp;SBI becomes India's most valuable listed PSU</a>

"After all, this is the very purpose for which we had accumulated reserves when the capital inflows were strong," the RBI chief added.&nbsp;Gold reserves also declined by $830 million to $38.356 billion.

Watch:&nbsp;Why do central banks raise interest rates to curb inflation?

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/wion-fineprint-why-do-central-banks-raise-interest-rates-to-curb-inflation-499884/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Das added that he had "no particular level of the rupee in mind" but asserted that the central bank would like to see an "orderly evolution" with "zero tolerance for volatile and bumpy movements". Das said the central bank is "engaging" with the forex market to ensure the rupee finds its level in "line with its fundamentals".

The RBI informed India's forex reserves had dipped by $80.06 billion to $580.252 billion earlier this month.

On Friday, India's Sensex reclaimed the 56,000-level as banking and financial stocks gained. The BSE benchmark rose over 390 points to close at 56,072.23&nbsp;and the NSE Nifty climbed 114.20 points to close at 16,719.45.

(With inputs from Agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

India's foreign exchange reserves fell by $7.5 billion to $572.712 billion in the week ending July 15. The rupee had fallen by 5 paise to close at 79.90 against the US dollar after touching 80.

India's foreign exchange reserves fell by $7.5 billion to $572.712 billion in the week ending July 15. The rupee had fallen by 5 paise to close at 79.90 against the US dollar after touching 80.06 against the US dollar on Thursday. As the rupee fell against the US dollar, RBI governor Shaktikanta Das said "you buy an umbrella to use it when it rains!" Also Read: SBI becomes India's most valuable listed PSU "After all, this is the very purpose for which we had accumulated reserves when the capital inflows were strong," the RBI chief added. Gold reserves also declined by $830 million to $38.356 billion. Watch: Why do central banks raise interest rates to curb inflation? Das added that he had "no particular level of the rupee in mind" but asserted that the central bank would like to see an "orderly evolution" with "zero tolerance for volatile and bumpy movements". Das said the central bank is "engaging" with the forex market to ensure the rupee finds its level in "line with its fundamentals". The RBI informed India's forex reserves had dipped by $80.06 billion to $580.252 billion earlier this month. On Friday, India's Sensex reclaimed the 56,000-level as banking and financial stocks gained. The BSE benchmark rose over 390 points to close at 56,072.23 and the NSE Nifty climbed 114.20 points to close at 16,719.45. (With inputs from Agencies) WATCH WION LIVE HERE

India's foreign exchange reserves fall; gold reserves decline

Spiralling living costs are hurting Europeans amid historic inflation. The European central bank had to hike interest rates to control the economic mess.

Europe's historic inflation: Spiralling living costs hurt Europeans

The European Central Bank has raised interest rates for the first time in 11 years by a larger-than-expected amount in an attempt to cool rampant inflation in the euro zone.

European Central Bank hikes interest rates for first time in 11 years by larger-than-expected amount

With an aim to reduce costs and putting more investments in EV space, America's Ford is planning to cut up to 8,000 jobs in the coming weeks.

Ford to cut thousands of jobs to help fund EV investments

The Bank of Japan projected inflation would exceed its target this year in fresh forecasts issued on Thursday, but maintained ultra-low interest rates and signalled its resolve to remain an outlier in a wave of global central banks' policy tightening.

Japan's inflation stays above Bank Of Japan's target

State Bank of India (SBI), India's largest bank, has become the most valuable listed public sector undertaking (PSU) after surpassing Life Insurance Corporation of India's (LIC) market capitalisation (market cap)

SBI shares jumped almost 7 per cent. This took market capitalisation of the bank to Rs 4,53,727.26 crore at 2:10 pm on Wednesday (July 13). At the same time, LIC's market cap was at Rs 4,35,570.97 crore

The state-owned PSU bank has become the seventh largest company in the overall market-cap ranking of listed companies on the BSE. LIC slipped to number eight in the list with a market cap of Rs 4.38 trillion, the BSE data showed.

In past one month, SBI stock has rallied by more than 17 per cent. During the same time period, LIC's stock has gained 4 per cent. BSE Sensex has been up by 7.6 per cent during the same period.

In fact, in last one week SBI has gained almost 5 per cent. There was a decline of 4 per cent in LIC's share price.

Since its listing on May 17, 2022, LIC has lost around 1.15 lakh crore market cap. But during the same period SBI's market cap got a filip of Rs 36,367 crore, as per BSE data.

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

WATCH WION LIVE HERE

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

State Bank of India (SBI), India's largest bank, has become the most valuable listed public sector undertaking (PSU) after surpassing Life Insurance Corporation of India's (LIC) market capitalisation (market cap) SBI shares jumped almost 7 per cent.

State Bank of India (SBI), India's largest bank, has become the most valuable listed public sector undertaking (PSU) after surpassing Life Insurance Corporation of India's (LIC) market capitalisation (market cap) SBI shares jumped almost 7 per cent. This took market capitalisation of the bank to Rs 4,53,727.26 crore at 2:10 pm on Wednesday (July 13). At the same time, LIC's market cap was at Rs 4,35,570.97 crore The state-owned PSU bank has become the seventh largest company in the overall market-cap ranking of listed companies on the BSE. LIC slipped to number eight in the list with a market cap of Rs 4.38 trillion, the BSE data showed. In past one month, SBI stock has rallied by more than 17 per cent. During the same time period, LIC's stock has gained 4 per cent. BSE Sensex has been up by 7.6 per cent during the same period. In fact, in last one week SBI has gained almost 5 per cent. There was a decline of 4 per cent in LIC's share price. Since its listing on May 17, 2022, LIC has lost around 1.15 lakh crore market cap. But during the same period SBI's market cap got a filip of Rs 36,367 crore, as per BSE data. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

SBI becomes India's most valuable listed PSU

As it finalizes its new structure, convenience store chain 7-eleven has slashed around 1,000 corporate jobs in the US. Job cuts at support centres, and field support operations were also there.

7-eleven lays off US employees: Job cuts at support centres, field support operations

Farnborough Airshow is one of the biggest air shows in the world that started earlier this week in the UK. Meanwhile, Global air traffic is on course to recover 2019 level in 2024.

Farnborough Airshow: One of the world's biggest civil and defence airshows

Inflation was continued to hit major economies, this time price rise in UK has hit 40-year higher levels; last month, it was backed by surging petrol and food prices.

UK inflation strikes news 40-year high

Tesla on Wednesday released its Quarter 2 earnings for the year 2022 and the electric vehicle maker reported a $2.3 billion profit. For us, this seems like a huge amount, for Tesla and Elon Musk this was a loss. As per Gizmodo, this actually represents the business's first sequential profit decline in almost a year. The report also states that Tesla converted 75 per cent of its Bitcoin stock into fiat money. By this, the company added $936 million in cash to the company balance sheets. According to a report from Coin Desk, the business apparently lost a tonne of money in the cryptocurrency crisis and might suffer a loss of up to $460 million from its bitcoin assets.

Watch |&nbsp;US auto maker General Motors confident of taking on Tesla in EVs

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/us-auto-maker-general-motors-confident-of-taking-on-tesla-in-evs-498759/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Tesla purchased the Bitcoin stock in February 2021, when the cryptocurrency was worth 35 per cent more than its current market value.&nbsp;

Additionally, the EV company has reported quarterly revenues of $16.9 billion, a decrease of more than 10 per cent from $18.8 billion in the first quarter as margins contracted as a result of inflation and growing competition in the EV market.

Also read |&nbsp;<a href="https://www.wionews.com/world/twitter-says-elon-musk-is-slow-walking-trial-over-44-billion-deal-498673">Twitter says Elon Musk is 'slow-walking' trial over $44 billion deal</a>

In its Quarterly update, Tesla said: "We continued to make significant progress across the business 
during the second quarter of 2022. Though we faced certain challenges, including limited production and shutdowns in Shanghai for the majority of the quarter, we achieved an operating margin among the highest in the industry of 14.6%,&nbsp;positive free cash flow of $621M and ended the quarter with the highest vehicle production month in our history."

Tesla has recently seen a number of setbacks, including the 22-day shutdown of its Shanghai factory, halts in production due to supply chain problems, and even several recalls due to the rising number of incidents involving its much-lauded "autopilot" feature.

(With inputs from agencies)

Watch WION LIVE HERE:

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Tesla on Wednesday released its Quarter 2 earnings for the year 2022 and the electric vehicle maker reported a $2.3 billion profit. For us, this seems like a huge amount, for Tesla and Elon Musk this was a loss.

Tesla on Wednesday released its Quarter 2 earnings for the year 2022 and the electric vehicle maker reported a $2.3 billion profit. For us, this seems like a huge amount, for Tesla and Elon Musk this was a loss. As per Gizmodo, this actually represents the business's first sequential profit decline in almost a year. The report also states that Tesla converted 75 per cent of its Bitcoin stock into fiat money. By this, the company added $936 million in cash to the company balance sheets. According to a report from Coin Desk, the business apparently lost a tonne of money in the cryptocurrency crisis and might suffer a loss of up to $460 million from its bitcoin assets. Watch | US auto maker General Motors confident of taking on Tesla in EVs Tesla purchased the Bitcoin stock in February 2021, when the cryptocurrency was worth 35 per cent more than its current market value. Additionally, the EV company has reported quarterly revenues of $16.9 billion, a decrease of more than 10 per cent from $18.8 billion in the first quarter as margins contracted as a result of inflation and growing competition in the EV market. Also read | Twitter says Elon Musk is 'slow-walking' trial over $44 billion deal In its Quarterly update, Tesla said: "We continued to make significant progress across the business during the second quarter of 2022. Though we faced certain challenges, including limited production and shutdowns in Shanghai for the majority of the quarter, we achieved an operating margin among the highest in the industry of 14.6%, positive free cash flow of $621M and ended the quarter with the highest vehicle production month in our history." Tesla has recently seen a number of setbacks, including the 22-day shutdown of its Shanghai factory, halts in production due to supply chain problems, and even several recalls due to the rising number of incidents involving its much-lauded "autopilot" feature. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Tesla sells off 75% of its Bitcoin stock at an estimated loss of $460 million

Hundreds of people took to streets of Panama to protest against government's failed efforts to control rising cost of living. Protesters across the country blocked roads and stopped trucks from delivering food.

Protests and street blockades against soaring prices in Panama

The European Central Bank (ECB) on Thursday (July 21) went for an aggressive benchmark deposit rate hike. This is a first since 2011 and has brought an end to the era of negative interest rates in the eurozone. The half point hike is bigger than expected. It has come amid soaring inflation and looming energy crisis in the wake of conflict in Ukraine.

The ECB said its new "assessment of inflation risks" justified taking "a larger first step on its policy rate normalisation path than signalled at its previous meeting" in June when policymakers shared their intent to raise rates by a more modest 25 basis points or a quarter of a percentage point.

In June, inflation in the eurozone hit 8.6 per cent. This was the highest ever level and it was well above ECB's target of two per cent.

The ECB also unveiled the first details of a new crisis tool to fight bond market stress in parts of the eurozone.

The instrument is a response to recent increases in the borrowing costs for governments in more highly indebted, usually southern eurozone members, such as Italy.

Dubbed the "Transmission Protection Instrument (TPI)", the targeted bond-buying scheme "can be activated to counter unwarranted, disorderly market dynamics that pose a serious threat to the transmission of monetary policy across the euro area," the ECB said in a statement.

The rate hike has lifted ECB's deposit facility from negative to zero.

The rate on its main refinancing operations climbs to 0.50 percent and on its marginal lending facility to 0.75 percent.

With prices taking off, the euro weak against the dollar and other central banks racing ahead with bigger hikes, the ECB was under pressure to think about making a bigger move at the meeting on Thursday.

Future rate hikes "will be appropriate", the ECB said, as it looks to catch up with the US Federal Reserve and the Bank of England which both&nbsp; 
started raising rates earlier and more aggressively.

(With inputs from agencies)

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

WATCH WION LIVE HERE

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

The European Central Bank (ECB) on Thursday (July 21) went for an aggressive benchmark deposit rate hike. This is a first since 2011 and has brought an end to the era of negative interest rates in the eurozone.

The European Central Bank (ECB) on Thursday (July 21) went for an aggressive benchmark deposit rate hike. This is a first since 2011 and has brought an end to the era of negative interest rates in the eurozone. The half point hike is bigger than expected. It has come amid soaring inflation and looming energy crisis in the wake of conflict in Ukraine. The ECB said its new "assessment of inflation risks" justified taking "a larger first step on its policy rate normalisation path than signalled at its previous meeting" in June when policymakers shared their intent to raise rates by a more modest 25 basis points or a quarter of a percentage point. In June, inflation in the eurozone hit 8.6 per cent. This was the highest ever level and it was well above ECB's target of two per cent. The ECB also unveiled the first details of a new crisis tool to fight bond market stress in parts of the eurozone. The instrument is a response to recent increases in the borrowing costs for governments in more highly indebted, usually southern eurozone members, such as Italy. Dubbed the "Transmission Protection Instrument (TPI)", the targeted bond-buying scheme "can be activated to counter unwarranted, disorderly market dynamics that pose a serious threat to the transmission of monetary policy across the euro area," the ECB said in a statement. The rate hike has lifted ECB's deposit facility from negative to zero. The rate on its main refinancing operations climbs to 0.50 percent and on its marginal lending facility to 0.75 percent. With prices taking off, the euro weak against the dollar and other central banks racing ahead with bigger hikes, the ECB was under pressure to think about making a bigger move at the meeting on Thursday. Future rate hikes "will be appropriate", the ECB said, as it looks to catch up with the US Federal Reserve and the Bank of England which both started raising rates earlier and more aggressively. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

ECB goes for aggressive rate hike for first time since 2011

Bitcoin rebounded after a brief sell-off late on Wednesday sparked by news that electric carmaker Tesla had sold about 75% of its holdings of the virtual token.

Bitcoin Recovers: Tesla says it sold 75% of Bitcoin Holdings