Kaohoon Morning Brief – 2 February 2022

1) India to launch digital rupee in April

India’s central bank will launch a digital version of the rupee in the next financial year, which will be a big boost to the digital economy, according to India’s finance minister, expecting that the digital currency will also lead to a more efficient and cheaper currency management system.

The Reserve Bank of India will introduce its own digital currency in the 2022-2023 financial year which begins on April 1.


2) WHO says new omicron variant appears to be mild

The World Health Organization (WHO) said that there is no indication the new variant of omicron, BA.2, can cause more serious infections than the original version. WHO added that researches from the organization itself as well as other researchers around the world have found that omicron generally doesn’t make people as sick as the delta variant.


3) Tesla recalls 54,000 vehicles, citing safety risk from software error

Tesla Inc., the world’s leading EV producer, has recalled nearly 54,000 U.S. vehicles that have its Full Self-Driving (Beta) software installed, claiming that the system may allow some models to conduct rolling stops and not come to a complete stop at some intersections, which is a risk to safety.


4) Oil slips below $90 prior to OPEC+ meeting

Oil prices slipped below $90 level in concerns of the upcoming OPEC+ meeting this week that could possibly resolve to add more supply, coupled with the expectation of U.S. stockpile to increase.

Early Wednesday morning, Brent Crude rose 0.34% to $89.46 per barrel and West Texas Intermediate (WTI) rose 0.28% to $88.45 per barrel.