The rally in Bitcoin appears to be running out of steam in 2026. After briefly climbing above 97,000 dollars last week, the world’s largest cryptocurrency has slipped back below key levels as global markets turn risk-averse. Bitcoin’s latest slide is raising fresh questions over its ‘digital gold’ narrative, as traders brace for more volatility ahead. Take a look at this report for more…


Bitcoin rally fades as global risk-off grows

Bitcoin: From 'Digital Gold' To Risk Asset'

Why is gold glittering in a bullish market? Despite stable sentiment and strong earnings, the precious metal is on a relentless rally. Could geopolitical risks or shifting global inflation be driving this surge? Dive into the unexpected forces behind gold's rise and what it means for your portfolio. Watch in for more details!

Is Gold Transforming As An Asset Class?

The Securities and Exchange Board of India (SEBI) board is scheduled to meet today, where it is expected to discuss a range of measures, including stricter norms for Futures & Options (F&O) trading, the introduction of a "New Asset Class," and mutual fund lite regulations. In anticipation of these potential measures, the benchmark indices, the Sensex and the Nifty, have each fallen by over 1 percent ahead of the meeting.

SEBI Board Meeting: Key Regulations Under Discussion and Why Markets Are Uneasy

In the upcoming full budget presentation this July, the Indian government plans to continue its recent approach introduced in February's interim budget by eschewing specific disinvestment targets. Instead, disinvestment proceeds will be categorized under capital receipts, aligning with earlier practices this year. The shift is a strategy from target-driven to value-oriented disinvestment. Historically, the term 'disinvestment' first appeared in union budget documents in 1991-92 with a target of approximately $302 million at current exchange rates. By fy21, this figure had surged to around $25.3 billion, encompassing sales of government stakes in central public sector undertakings, public sector banks, and financial institutions.

Indian budget: Emphasis on asset monetisation

Labour has accused the government of “catastrophic financial mismanagement” and claimed it has “lost” $320 bn from the value of assets created to rescue the banking sector after the 2008 financial crash.

UK: Labour accuses government of losing $320 bn from value of assets

American multinational investment company, BlackRock, entered into a joint venture with Jio Financial Services, the financial services division of Indian tycoon Mukesh Ambani's empire, to launch a digital-first asset manager to serve the expanding investor population in India.

Jio BlackRock will be the name of the joint enterprise.

According to a statement released on Wednesday, BlackRock and Jio Financial Services each intend to spend up to $150 million in the 50-50 venture. BlackRock had $9.4 trillion in assets under management at the end of June.

In a LinkedIn post, Larry Fink, chairman and CEO of BlackRock, said, "Today marks a major move for BlackRock&nbsp;as we work to expand our footprint through a forthcoming joint venture in India with Jio Financial Services, a company built by Reliance Industries Limited."&nbsp;

While many Indian households have traditionally preferred real estate and jewelry as their primary assets, the joint venture seeks to benefit from the growing number of savers who are integrating financial items in their retirement plans.

The partnership will “deliver our combined expertise and scale to unlock the power of investing for millions of people in India,” Fink said.

Analysts anticipate that Ambani’s Jio mobile phone network, which has the largest user base in India, will provide Jio Financial Services with access to massive troves of customer data. The trading of Jio Financial Services' shares is anticipated to begin this quarter.

According to chief executive of Jio Financial Services, Hitesh Sethia, the joint venure “will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products."&nbsp;

This is the BlackRock’s second attempt to break into the Indian retail sector. This is after it pulled out of a joint venture with the DSP Group in 2018.

(With inputs from Reuters)

&nbsp;

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<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>

American multinational investment company, BlackRock, entered into a joint venture with Jio Financial Services, the financial services division of Indian tycoon Mukesh Ambani's empire, to launch a digital-first asset manager to serve the expanding investor population in India.

American multinational investment company, BlackRock, entered into a joint venture with Jio Financial Services, the financial services division of Indian tycoon Mukesh Ambani's empire, to launch a digital-first asset manager to serve the expanding investor population in India. Jio BlackRock will be the name of the joint enterprise. According to a statement released on Wednesday, BlackRock and Jio Financial Services each intend to spend up to $150 million in the 50-50 venture. BlackRock had $9.4 trillion in assets under management at the end of June. In a LinkedIn post, Larry Fink, chairman and CEO of BlackRock, said, "Today marks a major move for BlackRock as we work to expand our footprint through a forthcoming joint venture in India with Jio Financial Services, a company built by Reliance Industries Limited." While many Indian households have traditionally preferred real estate and jewelry as their primary assets, the joint venture seeks to benefit from the growing number of savers who are integrating financial items in their retirement plans. The partnership will “deliver our combined expertise and scale to unlock the power of investing for millions of people in India,” Fink said. Analysts anticipate that Ambani’s Jio mobile phone network, which has the largest user base in India, will provide Jio Financial Services with access to massive troves of customer data. The trading of Jio Financial Services' shares is anticipated to begin this quarter. According to chief executive of Jio Financial Services, Hitesh Sethia, the joint venure “will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products." This is the BlackRock’s second attempt to break into the Indian retail sector. This is after it pulled out of a joint venture with the DSP Group in 2018. (With inputs from Reuters) WATCH WION LIVE HERE

BlackRock joins hands with Jio Financial Services to launch digital-first asset manager

New York-based private equity firm Blackstone has breached the $1 trillion in assets under management mark&nbsp;- becoming the first among its peers to reach the milestone. The firm first set the goal of crossing the $1 trillion landmark in 2018 by 2026 but reached it, three years in advance.&nbsp;

The company's assets rose to the trillion mark in the second quarter from $991.3 billion at the end of the first quarter. The move was made possible due to over $30 billion in inflows coming from&nbsp;insurance, infrastructure, credit and certain types of real estate.

Overall, Blackstone’s market capitalisation currently stands at nearly $132 billion, compared with about $113 billion for BlackRock.&nbsp;

The nearest rival of Blackstone when it comes to assets remains Apollo, known for its insurance business. At the end of the first quarter, Apollo had&nbsp;$600 billion in assets under management with the company setting a goal of reaching the $1 trillion mark by 2026.&nbsp;

<h2>Mantra for success&nbsp;</h2>

The company was started in 1985 by&nbsp;co-founders&nbsp;Peter G. Peterson and Stephen A. Schwarzman with a modest seed capital of $400,000. The transformation to a trillion-dollar empire is being regarded as one of the most dramatic transformations in modern markets. Experts argue that Blackstone's success can be narrowed down to the company's vision of diversifying its business routinely.&nbsp;

“We started with one private equity fund,” Schwarzman, Blackstone’s billionaire co-founder, said this year. “Now we do 60 different things.”

In his memoir,&nbsp;Schwarzman reflects on the mantra that has driven his company to insane heights.&nbsp;

"If you’re going to commit yourself to something, it’s as easy to do something big as it is to do something small,”&nbsp;wrote Schwarzman. “I only have so much time and so much energy. I always look for something that has almost limitless possibilities because I know that that itself is worthy.”

As one of the first firms to reach the $1 trillion landmark, Blackrock's dealmakers continue to influence the daily lives of Americans. Having a seat in most major companies, Blackstone shapes firms that determine how US citizens secure a house, find romance in their neighbourhood and access the lights in their homes.

<h2>Manoeuvring the 2008 financial crisis&nbsp;</h2>

In the aftermath of 'The Great Recession of 2008', Blackrock emerged stronger than ever by snapping up debt-investing firm GSO Capital Partners. It&nbsp;allowed the company to become a major source of financing in the country while banks, shackled by strict regulations, failed to have a lift-off.&nbsp;&nbsp;&nbsp;

Additionally, the company's bets on real estate prior to the financial crisis, although risky, managed to pay off big time, unlike the banks. So when the interest rates fell to historic lows, the firm capitalised on cheap debt and shopped for deals.&nbsp;

(With inputs from agencies)

&nbsp;

WATCH WION LIVE HERE:&nbsp;

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New York-based private equity firm Blackstone has breached the $1 trillion in assets under management mark - becoming the first among its peers to reach the milestone.

New York-based private equity firm Blackstone has breached the $1 trillion in assets under management mark - becoming the first among its peers to reach the milestone. The firm first set the goal of crossing the $1 trillion landmark in 2018 by 2026 but reached it, three years in advance. The company's assets rose to the trillion mark in the second quarter from $991.3 billion at the end of the first quarter. The move was made possible due to over $30 billion in inflows coming from insurance, infrastructure, credit and certain types of real estate. Overall, Blackstone’s market capitalisation currently stands at nearly $132 billion, compared with about $113 billion for BlackRock. The nearest rival of Blackstone when it comes to assets remains Apollo, known for its insurance business. At the end of the first quarter, Apollo had $600 billion in assets under management with the company setting a goal of reaching the $1 trillion mark by 2026. Mantra for success The company was started in 1985 by co-founders Peter G. Peterson and Stephen A. Schwarzman with a modest seed capital of $400,000. The transformation to a trillion-dollar empire is being regarded as one of the most dramatic transformations in modern markets. Experts argue that Blackstone's success can be narrowed down to the company's vision of diversifying its business routinely. “We started with one private equity fund,” Schwarzman, Blackstone’s billionaire co-founder, said this year. “Now we do 60 different things.” In his memoir, Schwarzman reflects on the mantra that has driven his company to insane heights. "If you’re going to commit yourself to something, it’s as easy to do something big as it is to do something small,” wrote Schwarzman. “I only have so much time and so much energy. I always look for something that has almost limitless possibilities because I know that that itself is worthy.” As one of the first firms to reach the $1 trillion landmark, Blackrock's dealmakers continue to influence the daily lives of Americans. Having a seat in most major companies, Blackstone shapes firms that determine how US citizens secure a house, find romance in their neighbourhood and access the lights in their homes. Manoeuvring the 2008 financial crisis In the aftermath of 'The Great Recession of 2008', Blackrock emerged stronger than ever by snapping up debt-investing firm GSO Capital Partners. It allowed the company to become a major source of financing in the country while banks, shackled by strict regulations, failed to have a lift-off. Additionally, the company's bets on real estate prior to the financial crisis, although risky, managed to pay off big time, unlike the banks. So when the interest rates fell to historic lows, the firm capitalised on cheap debt and shopped for deals. (With inputs from agencies) WATCH WION LIVE HERE:

Blackstone becomes first private equity firm to reach THIS $1 trillion milestone

Saudi Royals are liquidating their assets worth Millions. Real Estate, yachts, artwork & jewels, they're selling it all. Is it because they want to hide their wealth or do they fear a purge by Crown Prince MBS? Molly Gambhir reports.

Gravitas: Saudi Royals are selling their assets: Here's why

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