Indian Economics

  Risky Bet: Crypto Newbies Have Family And Friends To Thank For Losses Brian Hourigan, a New York-based real estate executive, prides himself on keeping a portfolio of assets with modest but predictable returns. Cryptocurrency (c) 2022 Bloomberg Anna Irrera and Tanzeel Akhtar, Bloomberg Updated: August 01, 2022 9:59 am IST Crypto is no stranger to busts, having suffered four major drawdowns since late 2017. Brian Hourigan, a New York-based real estate executive, prides himself on keeping a portfolio of assets with modest but predictable returns. Yet as cryptocurrencies rallied to records last fall, the 38-year-old made an uncharacteristically risky bet. Hourigan invested $20,000 in Bitcoin and Ether in October, hoping to turbocharge his plan to buy an apartment. His inspiration: Adam Ghahramani, a close friend and crypto entrepreneur who was making a killing in digital tokens and had been enthusing about the sector for years.  “I allowed Adam's prolonged and particularly bullish e

  Reliance Jio Tops 5G Spectrum Bids With   ₹   88,078 Crore, Adani Bought... 5G Spectrum Auction: Of the 72,098 MHz of spectrum offered across 10 bands, 51,236 MHz, or 71 per cent, was sold. Tech, Media & Telecom Press Trust of India Updated: August 01, 2022 7:21 pm IST 5G Spectrum Auction: Jio acquired spectrum across several bands. New Delhi:  Billionaire Mukesh Ambani's Reliance Jio on Monday emerged as the largest bidder for the  5G spectrum , acquiring close to half of all the airwaves sold in the latest auction for ₹ 88,078 crore. According to Telecom Minister Ashwini Vaishnaw, the Adani group bought 400 MHz, or less than one per cent of all spectrum sold, for ₹ 212 crore. While Adani group bought spectrum in the 26 GHz band, which is not for public networks, Jio acquired spectrum across several bands, including the coveted 700 MHz band that can provide 6-10 km of signal range and forms a good base for fifth generation (5G) in all 22 circles in the country. A single town