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Norwegian regulations now mandate data centers to disclose ownership and services, aiming to empower local authorities in decision-making. Meanwhile, global enforcement against digital asset fraud intensified, with the CFTC and SEC reporting record recoveries from scams, including the FTX collapse and Terraform Labs fraud. In the U.K., a proposed bill seeks to classify digital assets as property, addressing legal ambiguities, while China revises AML laws to include virtual assets, maintaining a ban on digital asset transactions.
In 2024, global IPO activity declined, with a 10% drop in the number of offerings to 1,215 and a 4% decrease in transaction value to $121 billion. The US market saw significant growth, while China's IPOs plummeted by over half, reflecting stark regional disparities influenced by deglobalization and interest rate changes. Switzerland's Galderma IPO ranked fifth globally, and experts express optimism for a market revival in 2025, driven by favorable conditions and potential deregulation in the US.
In 2024, global IPO activity declined, with a 10% drop in the number of offerings to 1,215 and a 4% decrease in transaction value to $121 billion. The U.S. market saw significant growth, while China experienced a dramatic slump, with IPOs halving to 170 and transaction value plummeting by 65%. Despite challenges, optimism for a revival in capital markets is noted, particularly in Switzerland, driven by interest rate cuts and favorable market conditions.
India's trade deficit reached a record $37.84 billion in November, driven by high gold imports, raising concerns about the economy. The stock market has faced significant pressure, with the Sensex dropping 2,000 points over three days, influenced by a weak rupee and foreign capital outflows amid cautious market sentiment ahead of the US Federal Reserve's policy meeting.
Vishal Mega Mart made a remarkable debut on the NSE, listing at a 33.33% premium over its IPO price of Rs 78, opening at Rs 104 and later reaching Rs 111.19, marking a 42% increase. The Rs 8,000-crore IPO was oversubscribed over 27 times, with significant backing from major anchor investors.
Nestle India shares closed at Rs 2188.05 on December 18, 2024, reflecting a 0.68% decline. The stock has faced a challenging six-month return of -13.9% and a one-year return of -9.56%, with trading volume at 868,322, slightly below the 7-day average.
India is advocating for a global regulatory framework for virtual digital assets (VDAs), recognizing the challenges posed by their borderless nature. While existing laws address taxation and anti-money laundering, the government emphasizes the need for international collaboration to protect investors and ensure financial stability. Despite its leadership in crypto adoption, India admits it is not yet ready to establish a comprehensive domestic regulatory timeline.
The Income Tax Appellate Tribunal in Jodhpur has ruled that profits from crypto sales before April 1, 2022, are to be classified as long-term capital gains, allowing for lower tax rates and deductions. This decision clarifies the tax treatment of digital assets, aligning it with international standards and providing a precedent for taxpayers. The ruling emphasizes that cryptocurrencies are considered property under the Income Tax Act, benefiting early adopters who faced ambiguity in tax obligations.
India is advancing its regulatory framework for Virtual Digital Assets (VDAs), focusing on innovation and investor protection while addressing the global nature of cryptocurrencies. Key measures include anti-money laundering regulations, taxation as capital gains, and oversight under existing laws. During its G20 presidency, India contributed to international crypto governance, aiming for a collaborative approach to tackle the unique challenges posed by VDAs.
The S&P BSE Sensex plummeted nearly 1,000 points, hitting an intra-day low of 80,941.61, amid investor caution ahead of the US Federal Reserve's upcoming meeting. Key factors included a widening trade deficit of $37.8 billion and poor performance from heavyweight stocks like Reliance Industries and HDFC Bank. Despite the overall decline, midcap and smallcap stocks showed slightly better resilience, with only minor losses.
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