Morning Digest
Tuesday, 19 May 2026

Wealth

9 articles

Wealth Management

ET Wealth 250% return on SGB premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 3.5 lakh

The Reserve Bank of India has announced the premature redemption price for Sovereign Gold Bond SGB 2020-21 Series-II, fixed at Rs 15,904 per unit. Investors can redeem this tranche from May 19, 2026, after the fifth year. This offers an absolute simple return of over 250% on the initial investment.

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ET Wealth Can Rs 1.5 crore retirement savings give you Rs 1 lakh monthly income for 20 years? Here’s the math

With a Rs 1.5 crore retirement corpus earning 6%, withdrawing Rs 1 lakh monthly can last about 22 years, leaving little balance. Slightly higher returns allow marginally higher withdrawals but nearly exhaust the corpus.

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LiveMint Markets Financial stock edges higher after Q4 results 2026. Do you own?

Tourism Finance Corporation of India (TFCI) share price rose 1.60% to ₹74.29 apiece on NSE in Tuesday's trading session after the company reported its financial results for the quarter ended on March 31, 2026.

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Fintech & UAE Market

FintechNews UAE Deem Finance and Yusr Launch Automotive BNPL in the UAE

Deem Finance and Yusr have signed a partnership agreement to launch embedded financial services in the UAE, starting with BNPL options for the automotive sector.

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FintechNews UAE Bolt Launches Ride-Hailing Services in Abu Dhabi

Dubai Taxi Company (DTC) and Bolt are launching digital ride-hailing services in Abu Dhabi, marking the next stage of their UAE platform expansion following strong growth in app-based bookings.

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FintechNews UAE Valu and ElTawkeel Launch Integrated Digital Car Platform in Egypt

Valu has partnered with automotive retail site ElTawkeel.com to launch a digital car platform that embeds auto financing directly into the vehicle purchasing process.

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Funds & ETFs

CNBC Investing Top Wall Street analysts suggest these 3 stocks for their long-term prospects

The earnings season has revived investors' interest in artificial intelligence trades. Robust spending and strong demand for AI infrastructure have reinforced analysts' confidence in several stocks.

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CNBC Investing For better or worse, investors are living through Trump’s stock market. Here's why

President Donald Trump has been considered the ultimate stock market president, overseeing an expansion to numerous record highs while serving as a catalyst for major declines.

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CNBC Finance Berkshire Hathaway has revamped its portfolio — Here's how the new stocks are trading

Berkshire Hathaway's revamp of its portfolio sent certain stocks higher Monday, as investors parsed the company's latest bets and exits disclosed in the conglomerate's quarterly filings.

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Trade

11 articles

Global Indices (India · US · HKEX · LSE)

ET Markets NSE EGR: Is your digital investment backed by physical gold? 5 major questions answered

The National Stock Exchange of India has introduced Electronic Gold Receipts, offering investors a new way to own gold digitally. Each EGR is backed by physical gold stored in regulated vaults. Investors can trade these receipts electronically through brokers.

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ET Markets Apollo Micro Systems shares rally 7% after Q4 profit surges 163% YoY

Shares of Apollo Micro Systems surged over 7% after the defence company reported strong Q4FY26 earnings, driven by sharp growth in profit and revenue. The company also highlighted a healthy order book and expansion plans, including acquisitions and UAV manufacturing, strengthening investor confidence amid sustained bullish momentum in the stock.

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LiveMint Markets Financial stock edges higher after Q4 results 2026. Do you own?

Tourism Finance Corporation of India (TFCI) share price rose 1.60% to ₹74.29 apiece on NSE in Tuesday's trading session after the company reported its financial results for the quarter ended on March 31, 2026.

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Commodities & Precious Metals (Spot Gold/Silver LBMA)

Metals Focus Silver Market Poised for Sixth Straight Annual Deficit This Year

The 2026 deficit is projected to widen by 15% to 46.3 million troy ounces, the industry group said in its annual outlook published Wednesday.

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Metals Focus Silver market seen as ripe for another price squeeze

The market is forecast to suffer its sixth straight year of deficit in 2026, with total demand outpacing supply, according to the World Silver Survey, published by consultancy Metals Focus and industry body the Silver Institute.

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Metals Focus Silver faces sixth year of deficit with stock drawdown raising squeeze risks, research shows

The silver market is heading for a sixth year of structural deficit, with 762 million troy ounces drawn from stocks since 2021, raising the risk of a renewed liquidity squeeze despite weaker demand expectations, the Silver Institute and consultancy Metals Focus said on Wednesday.

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Crypto

Finance Magnates Bitcoin Depot Shuts Down 9,000 Crypto ATM Network Following Bankruptcy Filing

Bitcoin Depot, once the largest Bitcoin ATM operator in North America, filed for voluntary Chapter 11 bankruptcy protection today (Monday) in the U.S. Bankruptcy Court for the Southern District of Texas. The company is based in Atlanta.It said it will wind down operations and sell its assets.

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Finance Magnates Why MultiBank Group Is Bringing Its $MBG Token to Bitpanda

MutliBank Group's token, $MBG, has entered Europe by becoming available on Bitpanda on Friday, May 12. The company, one of the largest financial derivatives providers in the world, launched its utility token in mid-2025 as a bridge between traditional finance – CFDs, FX and institutional trading – with Web3 themes

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Finance Magnates Kraken IPO Slides Toward 2027, Four Weeks After CEO Publicly Reaffirmed Filing

Kraken's US public listing may now slip into 2027, just over a month after the cryptocurrency exchange's co-CEO Arjun Sethi publicly reaffirmed that its confidential filing remained on track.Bloomberg reported on Friday, citing a person familiar with the matter, that the Payward-operated exchange is now eyeing a 2027 debut.

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CFDs & Margin

Finance Magnates Swissquote’s 1:10 Share Split Will Begin Trading Next Week. Will It Start a Rally?

Swissquote (SWX: SQN) has confirmed that its 1:10 split shares will begin trading publicly on 28 May 2026. This means every existing share was divided into 10 new shares, with the share price adjusted proportionally downward.Another Share Split for SwissquoteAnnounced today (Tuesday), the date confirmation followed shareholders of the brokerage

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Finance Magnates Trade Tech Solutions Expands Into Prediction Markets With 15-Day Prop Firm Launch Infrastructure

Trade Tech Solutions, the award-winning prop firm technology provider trusted by more than 85 prop firms globally, has officially expanded its infrastructure platform into the rapidly growing Prediction Markets sector.The launch positions TTS as one of the first all-in-one prop firm technology providers to deliver institutional-grade infrastructure for Prediction Market

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AI

5 articles
TechCrunch AI SandboxAQ brings its drug discovery models to Claude — no PhD in computing required

SandboxAQ brings its drug discovery models to Claude — no PhD in computing required Lucas Ropek 2:29 PM PDT · May 18, 2026 Drug discovery is one of the most expensive pursuits in modern industry.

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TechCrunch AI Anthropic has acquired the dev tools startup used by OpenAI, Google, and Cloudflare

Anthropic has acquired the dev tools startup used by OpenAI, Google, and Cloudflare Kirsten Korosec 12:27 PM PDT · May 18, 2026 Anthropic announced Monday it has acquired Stainless, a startup founded by former Stripe engineer Alex Rattray whose software is widely used by rival AI labs, including OpenAI and

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TechCrunch AI Elon Musk has lost his lawsuit against Sam Altman and OpenAI

Elon Musk has lost his lawsuit against Sam Altman and OpenAI Tim Fernholz 10:34 AM PDT · May 18, 2026 Elon Musk’s claim that he was mistreated by his OpenAI co-founders failed after nine California jurors returned a unanimous verdict that his lawsuits had been filed too late.

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TechCrunch AI Amazon’s new Alexa+ powered feature can generate podcast episodes

Amazon’s new Alexa+ powered feature can generate podcast episodes Lauren Forristal 7:56 AM PDT · May 18, 2026 Amazon announced the latest update to Alexa+ on Monday: the ability to generate podcast episodes on demand. The new feature, called “Alexa Podcasts,” is rolling out to customers in the U.S.

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TechCrunch AI South Korea’s LetinAR is building optics behind AI glasses

South Korea’s LetinAR is building optics behind AI glasses Kate Park 4:00 AM PDT · May 18, 2026 Imagine you’re riding a motorcycle at 160 kilometers per hour when an arrow appears, floating on the road ahead, telling you exactly where to turn. No phone, no dashboard.

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Companies

5 articles
TechCrunch Theo Baker spent four years investigating Stanford. Before he leaves, here’s what he found.

Theo Baker spent four years investigating Stanford. Before he leaves, here’s what he found. Connie Loizos 10:50 PM PDT · May 18, 2026 Most members of Stanford’s class of 2026 are smart, ambitious, and poised for remarkable careers. Theo Baker already has one.

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TechCrunch OSHA probing worker death at SpaceX’s Starbase site

OSHA probing worker death at SpaceX’s Starbase site Sean O'Kane 2:55 PM PDT · May 18, 2026 A worker died at SpaceX’s Starbase launch site in South Texas on Friday, and the Occupational Safety and Health Administration (OSHA) has opened an investigation.

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TechCrunch SandboxAQ brings its drug discovery models to Claude — no PhD in computing required

SandboxAQ brings its drug discovery models to Claude — no PhD in computing required Lucas Ropek 2:29 PM PDT · May 18, 2026 Drug discovery is one of the most expensive pursuits in modern industry.

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TechCrunch Anthropic has acquired the dev tools startup used by OpenAI, Google, and Cloudflare

Anthropic has acquired the dev tools startup used by OpenAI, Google, and Cloudflare Kirsten Korosec 12:27 PM PDT · May 18, 2026 Anthropic announced Monday it has acquired Stainless, a startup founded by former Stripe engineer Alex Rattray whose software is widely used by rival AI labs, including OpenAI and

Read more →
TechCrunch Elon Musk has lost his lawsuit against Sam Altman and OpenAI

Elon Musk has lost his lawsuit against Sam Altman and OpenAI Tim Fernholz 10:34 AM PDT · May 18, 2026 Elon Musk’s claim that he was mistreated by his OpenAI co-founders failed after nine California jurors returned a unanimous verdict that his lawsuits had been filed too late.

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Product

5 articles
TechCrunch Apps Kin Health raises $9M to build an AI notetaker for patients

Kin Health raises $9M to build an AI notetaker for patients Ivan Mehta 8:26 AM PDT · May 18, 2026 The market for AI notetaking devices has exploded in the U.S., with the category generating over $600 million in revenue last year, according to a Menlo Ventures report.

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TechCrunch Apps Apple’s Siri revamp could include auto-deleting chats

Privacy will be a major theme when Apple unveils a new version of Siri at the Worldwide Developers Conference in June, according to Bloomberg’s Mark Gurman. The Siri relaunch is widely seen as Apple’s big chance to reestablish its relevance in artificial intelligence.

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TechCrunch Apps Osaurus brings both local and cloud AI models to your Mac

Osaurus brings both local and cloud AI models to your Mac Sarah Perez 5:19 AM PDT · May 15, 2026 As AI models increasingly become commoditized, startups are racing to build the software layer that sits on top of them.

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TechCrunch Apps Spotify to adopt Apple’s new video podcast tech, offering creators easier cross-platform distribution

Spotify to adopt Apple’s new video podcast tech, offering creators easier cross-platform distribution Lauren Forristal 8:42 AM PDT · May 14, 2026 Spotify announced on Thursday that it plans to embrace Apple’s HLS (HTTP Live Streaming) video technology, which Apple recently introduced on Apple Podcasts to enhance the video experience.

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TechCrunch Apps How to turn off Instagram’s new Instants feature and retract photos you accidentally shared

While the Meta-owned social network billed Instants as a new format to share real-life moments as they’re happening, many users are looking for a way to turn off the feature, especially those who have accidentally sent images to others, not fully understanding how the feature works.

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Vocabulary

5 terms today

Term 1 of 5

Tokenisation of Real-World Assets (RWA)

Converting legal ownership rights in physical or financial assets — real estate, treasury bills, private credit, commodities — into digital tokens on a blockchain. RWA tokenisation eliminates manual settlement processes, enables fractional ownership, and creates 24/7 secondary liquidity. BlackRock's BUIDL fund and Franklin Templeton's on-chain money market fund are early institutional benchmarks. The BIS estimates the market could reach $16 trillion by 2030 if regulatory frameworks and interoperability standards mature — but custodial rights, insolvency treatment, and cross-chain settlement remain unresolved.

Term 2 of 5

Dark Pool

A private trading venue where large institutional orders execute away from public exchanges, keeping order details hidden until after execution. This protects block orders from market impact — a fund selling 5 million shares on-exchange would visibly move the price against itself. Dark pools account for roughly 15% of US equity volume. Post-MiFID II, European dark pool usage is restricted by double volume caps (DVC). Critics argue dark pool opacity fragments price discovery and disadvantages retail investors who can only access lit market prices.

Term 3 of 5

Sharpe Ratio

A risk-adjusted return metric calculated as (Portfolio Return − Risk-Free Rate) ÷ Standard Deviation of Returns. A ratio above 1 is considered solid; above 2 is exceptional and rare at scale. It rewards high returns while penalising volatility, making it the standard tool for comparing strategies with different risk profiles. Critical limitations: it treats upside and downside volatility equally, and it can be gamed by strategies that produce steady gains with occasional catastrophic losses (short volatility, carry). The Sortino Ratio addresses this by penalising only downside deviation.

Term 4 of 5

Impermanent Loss

A risk unique to liquidity providers in decentralised exchange AMMs (Uniswap, Curve). When the price ratio of the two pooled tokens shifts, the AMM's constant-product formula automatically rebalances — leaving the LP with less of the outperforming asset and more of the underperformer relative to simply holding both. The 'impermanent' label reflects that the loss only crystallises on withdrawal; if prices revert, it disappears. In practice, high-volatility pairs frequently produce impermanent losses that exceed trading fee income, making pool selection a critical skill in DeFi liquidity provision.

Term 5 of 5

Market Microstructure

The study of how trading mechanisms, information, and participant behaviour determine prices and transaction costs at the granular level. Key concepts include bid-ask spread, order book depth, price impact, latency, and adverse selection. Microstructure insights drive exchange design (continuous versus periodic auctions), trading algorithm development, and transaction cost analysis (TCA). High-frequency traders exploit microstructure patterns measured in microseconds; institutional desks use microstructure models to minimise market impact when executing large orders.