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Time of India
6 days ago
- Business
- Time of India
Amid global BTC rally, desi bourses try options
As the crypto queen Bitcoin crossed $120,000 to touch a new high in global markets, Indian players are trying their luck at ' crypto options '. After the launch of 'perpetual crypto futures' almost two years ago, at least two local crypto platforms are now offering cryptocurrency options with multiple expiry dates. The element of leverage, the lure of making money by investing small amounts, and a possible escape from the high tax deducted at source on sale of virtual digital assets could be irresistible to some traders - like stock market punters attracted to equity derivatives despite the risks. The crypto rally, triggered by Donald Trump winning the United States presidency last year, received a boost this week with traders excited by the possibility of the US House of Representative debating Bills that could pave the way for a much-awaited regulatory framework for the virtual digital assets. Buoyed by the hope of a greater recognition and acceptability of cryptos in the largest financial market, Bitcoin (BTC) surged to a record high of $123,153 before pulling back to around $122,000. Volumes yet to take off BTC is up 60% since the US elections in November 2024. A bull market triggers new products, as borne out by the offering of crypto options in India. But these are early days. Unlike the futures, option volumes are yet to take off with traders still drawn towards the comparatively less complicated crypto futures which offers a leverage of at least ten times. However, some feel that options could slowly catch on as it has in the stock market. "For instance, given the expectations that BTC could inch up, some traders are probably buying call options. But cryptos are a volatile market. So, while futures may be a simpler trade, the risk of the margins against a futures position getting liquidated in a sudden fall is always there. Unlike that, a trader having bought calls can still make money if there is a bounce I feel options volumes will take a while to rise," said an industry person. Ashish Singhal, co-founder of CoinSwitch , which is one of the exchanges that has launched options, said, "Options have long been part of traditional finance, but in crypto, they've often remained complex and intimidating, sometimes even inaccessible. We're trying to change that. We know options aren't for everyone, they come with risk and require understanding. That's why we've introduced thoughtful friction. For example, first-time users must pass a basic quiz before they can trade." Another bourse which is offering crypto on BTC and Ether is Delta while a large exchange is expected to launch options soon. The margin money for a futures trade as well as the premium to buy an option is paid in rupees by a trader, and a local exchange may source liquidity and borrow the prices from an overseas exchange where crypto derivative volumes are high. Many local platforms have accounts with large offshore platforms. Thus, if the local market does not have enough liquidity, a platform may act as an intermediary and do a mirror trade on the overseas platform. According to Edul Patel CEO of another crypto exchange Mudrex , "India has a strong base of traders in the derivatives space, and that appetite is now extending into the crypto space. We're seeing traditional traders also explore crypto derivatives , mainly because of features like no expiry contracts, smaller lot sizes, deep liquidity, and the ability to trade any time of day. At Mudrex, we have also seen people holding their positions for months. Interestingly, most trading activity is still aligned with US market hours, highlighting the global nature of crypto markets. 'High-risk financial product' "However, crypto derivatives are not for everyone. It is a high-risk financial product that needs skills and a strong understanding of the markets and does not fit everyone's risk appetite," he added. Economic Times WhatsApp channel )
Straits Times
11-07-2025
- Business
- Straits Times
Philippines' president to discuss tariffs in Trump meeting this month, top diplomat says
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Philippine President Ferdinand Marcos Jr. gestures as he delivers his second State of the Nation Address (SONA), at the House of Representative in Quezon City, Metro Manila, Philippines, July 24, 2023. REUTERS/Lisa Marie David/File photo KUALA LUMPUR - Philippine President Ferdinand Marcos Jr will meet U.S. President Donald Trump in Washington this month, Manila's top diplomat said on Friday, with an increased trade tariff on one of Washington's top defence allies set to be discussed. Philippine foreign minister Theresa Lazaro, in an interview during a regional summit in Malaysia, confirmed the arrangement of what will be the first meeting between Trump and Marcos, whose nations have stepped up military engagements significantly of late. 'The issue of tariffs will be discussed among others…it's also very important to us. We have already sent negotiators to discuss this issue," Lazaro told Reuters on Friday. A White House official earlier told Reuters the meeting was set for July 22, while the office of Marcos said he will visit the U.S. from July 20-22. The Philippines is concerned over a 20% tariff rate announced this week by Trump, which was increased from 17% threatened in April, without explanation. The U.S. goods trade deficit with the Philippines widened to $4.9 billion in 2024, a 21.8% increase from 2023. The Philippines has said it remains committed to continue negotiations and a delegation will travel to Washington next week to pursue a trade deal. Relations between Manila and Washington have soared under Marcos, who has pivoted closer to the U.S. and allowed American soldiers to expand their presence at Philippine facilities. The former U.S. colony is central to Washington's efforts to counter China's assertiveness in the South China Sea and towards Taiwan. Top stories Swipe. Select. Stay informed. Business S'pore to launch new grant for companies, expand support for workers amid US tariff uncertainties World Trump to use presidential authority to send weapons to Ukraine, sources say World Trump nominates 'alpha male' influencer to be ambassador to Malaysia Opinion Whisper it softly, there's a new Japan rising Business Popiah king Sam Goi makes $123.5 million offer to buy rest of PSC Business Company in talks to buy Esso petrol stations in Singapore, said to be worth $1.28 billion: Sources World The $12.8m bag: Original Birkin smashes records at Paris auction Asia Tariffs overshadow diplomacy as Asean foreign ministers press on with meetings The United States and the Philippines have a seven-decade old mutual defence treaty and hold dozens of annual exercises, which have included testing of a U.S. Typhon missile system, angering China. Marcos' overtures of to the U.S. and defiant stand on China have riled Beijing, which has repeatedly accused Manila and Washington of trying to stoke tensions. Lazaro said negotiations on a code of conduct between the Association of Southeast Asian Nations and China were dragging out and the Philippines would push for talks to finish when it becomes ASEAN chair next year. She said the code must be legally binding. The South China Sea remains a source of friction between China and the Philippines, Vietnam and Malaysia, with ties between Beijing and Manila at their worst in years amid frequent confrontations that have sparked concerns they could spiral into conflict. "It is our view that it should not be taking so long. It is important that we have to deliver," she said. "So it is incumbent upon all of us, and actually China, to... endeavor to finish the negotiations, the discussions. And that's supposed to be in 2026." Lazaro also said a planned election in military-ruled Myanmar, an ASEAN member in the grips of a civil war, would only be acceptable if it were inclusive and peaceful. REUTERS
Yahoo
03-07-2025
- Politics
- Yahoo
Vocational school admission change quietly dropped from state budget deal
The state's new policy to use a lottery for vocational-technical (voc-tech) school admissions will remain in place for now — as an amendment that would have prevented the policy from going into effect was not included in the legislature's FY26 budget bill. The amendment, filed by Rep. Frank Moran, D-17th Essex, also called for the creation of a task force that would study and make recommendations about vocational school admissions. The amendment was included in the House of Representative's standalone bill for the FY26 budget but was not included in the final bill agreed upon by House and Senate members. Lawmakers from both chambers are expected to vote on the budget agreement Monday afternoon. 'You move forward,' Moran said about his amendment not being included. On May 20, the state's Department of Elementary and Secondary Education approved the new admissions policy, requiring voc-tech schools with more applicants than open seats to use a lottery for their admissions. The lottery system will go into effect for the 2026-2027 school year. Some advocates of voc-tech schools have said in the past that previous criteria for enrollment, such as grades and recommendations, lead to a disproportionate exclusion of special needs students, economically disadvantaged students, students of color and English language learners in schools. A federal discrimination complaint challenging the previous admission processes was filed in 2023 by students and civil rights groups who argued the processes were exclusionary. The complaint was filed on behalf of four students and the Vocational Education Justice Coalition, a group of 20 community, union and civil rights groups that have previously advocated for a lottery system, according to the coalition's website. Members of the Vocational Education Justice Coalition, including The Massachusetts Teachers Association, the Massachusetts Education Justice Alliance and the Greater Boston Building Trades Unions, did not immediately respond to requests for comments on Monday. Gov. Maura Healey's administration proposed the lottery system to the Department of Elementary and Secondary Education, with members of her cabinet, including the governor herself, speaking in favor of the policy. 'While we continue to increase the number of seats in career technical education schools, we know that there are still more applicants than openings at many of the schools,' Healey said in a statement on May 20. 'Today's vote will help give all eighth graders more knowledge of their options and a better chance at being admitted to these schools.' Moran, who represents a part of Lawrence — a city that is 82% Hispanic according to the U.S. census — believes that the lottery system would be detrimental to students of color. He argued that white students are more likely to be randomly selected in the lottery because there are more of them than there are students of color. In Massachusetts, 79% of the population is white, 13.5% are Latino, 9.6% are Black, 7.9% are Asian, 2.8% are a mix of two or more races and 0.6% are American Indian, according to the U.S. census. 'I think the decision that the Department of Elementary and Secondary Education made to go forward with this change is going to be detrimental to our communities and across the Commonwealth,' Moran said. 'I think we need to explore other options and thats the reason why we wanted to put (forward) this amendment.' Moran also filed a standalone bill that seeks to establish an admissions task force. The bill is still in committee and has not been brought to the House floor for a full vote, Moran said. Timothy Murray, the CEO and president of the Worcester Chamber of Commerce, was also disappointed that Moran's amendment was not included in the final budget agreement. 'This lottery eliminates criteria like attendance, academic performance, & behavior from admissions decisions,' according to a statement from Murray that was posted on the Chamber of Commerce's X account Monday. 'It's not equity — it's a retreat from standards that help students thrive in hands-on learning environments.' Last week, the Chamber of Commerce hosted a panel that featured school and business leaders from cities including Brockton, Springfield, and Worcester. The members of the panel, which included Murray, all criticized the state's new policy, saying they preferred the previous admissions process based on interviews, grades, and recommendations. 'It is unfortunate and not where we need to be going,' Murray said. Trump admin threatens to cut all Harvard's funding over 'violent violation' As foreign students reconsider coming to Boston, local businesses prepare for fallout Trump admin appeals federal judge's decision rejecting ban of foreign Harvard students Holyoke schools, union at odds over 'exit assurances' during transition to local control A new Boston-area college president is named amid financial strain and a resignation Read the original article on MassLive.
San Francisco Chronicle
03-07-2025
- Business
- San Francisco Chronicle
Will Trump's ‘Big Beautiful Bill' kill rooftop solar in California?
President Donald Trump's tax and spending package could gut financial incentives for clean energy programs that for decades have helped American taxpayers recoup some of the costs of installing solar panels and lowering monthly energy bills. The bill must pass a second reading in the U.S. House of Representative and be signed by the president to become law. If that happens, the tax credits would still be available for rooftop systems for a limited time. Here's what we know. What federal financial incentives currently exist for homeowners who want to install solar? Homeowners and renters can currently recoup 30% of the cost of solar panels and other clean energy home upgrades like batteries through the federal tax credit program. The average cost to install solar panels in California was $16,380 in 2023, according to a UC Irvine study. After tax credits, the cost dropped to $11,466, researchers found. The rooftop solar tax credit has roots dating back to 1978 when President Jimmy Carter established the nation's first tax credits for solar amid soaring oil and gas prices. That program ended in the 1980s, but President George W. Bush revived tax incentives for solar in 2005. The most recent iteration came under the Biden Administration when the tax credits were extended through 2032, at which point the program was slated to phase out over two years. This week, Congress may set a new deadline if the massive budget bill passes: Dec. 31, 2025. 'There is going to be a race for people to install systems by the end of this year,' said Brad Heavner, executive director of the California Solar & Storage Association. Is there still time to qualify for the tax credit before it might expire? Yes. The incentives would still be available to people who purchase solar panels and install them by the end of this year. Households that lease solar panels from companies (rather than buy them) may benefit from the tax credits for two additional years. According to the Senate bill that is under final consideration in the House, companies offering solar panel leasing programs would qualify for a similar tax credit available to solar leasing firms until the end of 2027 and may pass those savings onto customers. Would the bill affect people who already have residential rooftop solar panels? No. The bill would impact new solar customers who buy panels after Dec. 31, 2025 and residential customers who lease panels after 2027. Households that spread the 30% credit over multiple tax years will remain eligible to claim the remainder going forward if they have paid for the panels by Dec. 31, 2025. It wasn't immediately clear whether the panels must be hooked up by that date as well. Is there any good news for solar? It's a tough time for rooftop solar in California: The move comes after California slashed credits solar customers get for sending energy back to the grid, and proposals to reduce those credits even further. Jeanine Cotter, executive director of San Francisco-based solar and battery firm Luminalt, said the short timeframe before the federal tax credits disappear is 'catastrophic.' 'It's as if we have a 30% price hike,' Cotter said. Heavner, with the California Solar & Storage Association, said that President Trump's policies are likely to increase energy costs for Americans and have 'devastating impacts on solar energy businesses.' And yet, he expects solar to endure — both largescale and on rooftops — because it is far more affordable than new gas-fired power plants. 'The sun is going to keep on shining and electricity bills will continue to increase — solar will be a good investment,' Heavner said.
Miami Herald
30-06-2025
- Health
- Miami Herald
Florida Laws Changing on July 1: From Condos To Dangerous Dogs
Over 100 new laws will come into effect from Tuesday in Florida, according to local media, concerning everything from health and property to animal welfare. Many are in response to observed issues concerning the health of student athletes as well as other threats to Floridians such as opioids and dangerous dogs. Drawn from media reports and state legislation, below are some of the most significant new laws taking effect in Florida from Tuesday. SB 1514: Anaphylaxis in Public and Charter Schools The bill, approved by Governor Ron DeSantis in May, requires each district and charter school board to ensure that adequate training is provided to school personnel regarding anaphylactic shocks-potentially life-threatening reactions to allergens. Training should ensure that school personnel are able to recognize the signs of anaphylaxis and know how to administer an epinephrine delivery device, or EpiPen. SB 1070: Electrocardiograms for Student Athletes The bill, also known as the "Second Chance Act," requires the Florida High School Athletic Association to increase the use of electrocardiogram (EKG) tests for student athletes and adopt policies barring students with abnormal EKGs from participating in sports without medical clearance. It mandates athletes to complete at least one screening before participating in interscholastic athletic competitions. It comes after a student from Port St. Joe High School student died while competing in a football game in September last year. HB 597: Diabetes Management in Schools The bill, referred to the House of Representative's educational and health subcommittees, aims to ensure schools are better equipped to handle diabetic emergencies. It authorizes schools to maintain stocks of undesignated glucagon, a medication used to treat severe hypoglycemia, authorizing flexible acquisition options such as via purchase, reduced pricing, free donation and transferred supplies that meet certain safety standards. It also requires that these glucagon supplies be kept in secure and easily accessible storage. HB 593: Dangerous Dogs The "Pam Rock Act" is aimed at regulating dangerous dogs and increasing the penalty for owners whose pets cause serious injury or death. The bill, unanimously passed in both chambers, was named after Pamela Rock, a woman killed in 2022 by a group of dogs with known histories of aggressive behaviour. HB 593 requires that dogs which have killed or seriously injured a human be confiscated, and that owners of dogs classified as dangerous obtain liability insurance of at least $100,000, microchip the dogs and securely confine them in suitable enclosures. HB 255: Aggravated Animal Cruelty Otherwise known as "Dexter's Law," this provides harsher sentences for individuals involved in aggravated cases of animal cruelty, while making it more likely that those found guilty of these crimes will go to prison. The bill was named after Dexter, a rescue dog who was adopted in 2024 and found beheaded in a public park days later. The bill will also create an online database of convicted animal abusers, allowing pet adoption services to screen applicants. HB 351: Dangerous Excessive Speeding This bill will impose harsher penalties and jail time for those who exceed speed limits by 50 miles per hour or more, or those who operate a vehicle at 100 mph or more "in a manner that threatens the safety of other persons or property or interferes with the operation of any vehicle." Those convicted of "dangerous excessive speeding" will face imprisonment of up to 30 days, a fine of $500 or both. Subsequent convictions will be punishable by up to 90 days in jail, a fine of $1,000 or both. HB 913: Condominium and Cooperative Associations The bill prohibits anyone whose community association manager (CAM) license is revoked from having any ownership interest in a community association management firm-a company contracted by a homeowner's association to handle the day-to-day management of a community-for a specified period. CAMS must also maintain up-to-date online accounts with Florida's Department of Business and Professional Regulation. SB 1388: Vessels The "Boater Freedom Act" is designed to safeguard access to Florida's waters and reduce regulatory impediments for boaters. It bars local government entities from banning gas-powered boats, prohibits authorities from conducting vessel inspections without probable case, and directs the Florida Fish and Wildlife Conservation Commission to proactively provide Florida Freedom Boater decals which will demonstrate to law enforcement that boaters have "taken the necessary steps to maintain proper safety requirements," per a statement on the governor's website. HB 279: False Reporting HB 279 aims to increase the penalties for those who misuse emergency communication services, specifically in cases where this results in serious harm or death. If found guilty of making false emergency calls-or "swatting"-individuals will have to pay restitution to victims as well as expenses incurred by law enforcement. SB 994: Driver License Education Requirements The bill requires that anyone aged 18 or older applying for a driver license must first complete a traffic law and substance abuse education course. Learner driver licenses may also be issued for anyone aged 15 who has completed an approved driver education course. HB 259: Special Observances HB 259 designates August 21 as Florida's Fentanyl Awareness & Education Day, encouraging schools to "sponsor events to promote awareness of dangers of fentanyl & potential overdoses" on this date. HB 549: Gulf of America This bill requires state agencies to rename the Gulf of Mexico in all geographic materials, reflecting the change adopted at the federal level earlier this year. The bill also mandates that public and charter schools adopt the new name in instructional and library materials after July 1. HB 209: State Land Management The legislation, also referred to as the "State Park Preservation Act," mandates that the Florida Department of Environmental Protection (DEP) encourage the protection of the state's public lands for recreational use. HB 209, which passed both chambers unanimously, also encourages transparency from the DEP regarding the use of public lands with public hearings and publicly available electronic copies of land management plans for parcels of a certain size and those located in state parks. SB 700: Department of Agriculture and Consumer Services Also known as the "Florida Farm Bill," this was signed into law by DeSantis in May. It introduces several departmental reforms, including expanded authority over hiring practices, giving the agency greater flexibility in staffing decisions. While it does not specifically mention the word fluoride, the bill bans "the use of certain additives in a water system" which do not meet strict new requirements. In effect, this will make Florida the second state after Utah to ban fluoride from public drinking water. Florida Representative Judson Sapp, who sponsored the Dangerous Dogs bill, said: "This bill addresses the rising number of attacks and fatalities caused by dangerous dogs in Florida by clearly defining what constitutes a dangerous dog, establishing a tracking system, and providing a process for removal when necessary. At the same time, it includes safeguards to prevent misidentification and protect responsible pet owners." Florida Representative Anne Gerwig, sponsor of the Special Observances bill, said: "Thousands of lives are lost every year due to opioid and fentanyl overdoses and this particularly affects our young adults and youth. Some lives are lost due to unintentional exposure including babies, young children and public servants that come into contact with this drug. The pain of addiction and the loss of lives due to fentanyl touches almost every family. "Bringing awareness of the dangers and hope for those that need it can change lives. By bringing attention to the fact that almost 60,000 lives were lost to fentanyl last year, we can spread awareness of this deadly crisis." Related Articles Disney Cruise Rescue As Child Falls Overboard, Father Jumps In: What To KnowTrump Admin Shares Meme of ICE Alligators Outside Florida Prison'Alligator Alcatraz' Faces Legal Challenge Days Before OpeningTrump Supporter Detained by ICE Thought Only Criminals Would Be Deported 2025 NEWSWEEK DIGITAL LLC.
