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Russia has sought alternatives to trading in dollars since being slapped with sanctions in 2014 following the annexation of Crimea, and Putin accuses the US of using its currency as a weapon. Crypto backers argue decentralized money will eventually replace fiat currencies issued by central banks.

Analysts tracking the company said it will report 48-52 per cent sequential and 45-47 per cent annual growth in net revenue. On the other hand sequential profit growth may be in the range of 203-391 per cent and yearly growth of 66-136 per cent.

The S&P 500 on Wall Street had its best day since March, while the Dow and Nasdaq also saw big gains. Asia followed suit, with Tokyo up 1.8 percent and Taipei more than two percent higher. Shanghai, Sydney, Seoul, Singapore, Bangkok and Manila also rose. Hong Kong jumped more than one percent, having reopened after two days off, though Jakarta and Wellington dipped.

Cash copper on the LME was at a $147-a-tonne premium over the three-month contract , the highest level since April 2012, indicating shortage of nearby supplies. The metal surpassed $10,000 a tonne in late trading on Thursday, the first time it has done so since June 14.

“Corrections will happen and that is very normal but net-net, we will overcome those corrections and scale even higher peaks in the next several years, says Nilesh Shah.”

“Every one person hired by an IT company creates seven new jobs in the supporting industry. All these people are going to spend in the coming two months and so consumption stocks are still very well positioned and will do well.”

Soaring global commodity prices, including of key inputs such as oil, chemicals, metals, plastic and cotton, are largely responsible for this rise. The volume growth is not commensurate with this value growth, traders and industry watchers say.

He said the digital lending space is gaining traction and banks need to develop products that can deliver services online to customers.

Most companies are using a mix of virtual and physical interface to meet with customers or investors in other locations. Travel for work has not reached pre-Covid levels yet, though companies say it will continue to show an uptrend, unless the third wave hits.

Bitcoin hit a six-month high on Friday, approaching the record hit in April, as traders became increasingly confident that U.S. regulators would approve the launch of an exchange-traded fund based on its futures contracts.