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NEW DELHI -- India government Friday cautioned people especially investors about risks of trading in virtual currencies (VCs) or cryptocurrencies such as Bitcoin, officials said."There has been a phenomenal increase recently in the price of VCs including Bitcoin, in India and globally. The VCs don't have any intrinsic value and are not backed by any kind of assets. The price of Bitcoin and other VCs therefore is entirely a matter of mere speculation resulting in spurt and volatility in their prices," a statement issued by India's finance ministry said.The ministry said VCs are not backed by government decree and described them as Ponzi schemes."There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money," the ministry officials said. "Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes."A Ponzi scheme is a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.Bitcoin, has emerged as world's biggest and best-known cryptocurrency and has gained more than 19-fold this year."The government also makes it clear that VCs do not have any regulatory permission or protection in India. The investors and other participants therefore deal with these VCs entirely at their risk and should best avoid participating therein," the finance ministry officials said.

NBS spokesperson Xing Zhihong said current property market regulation focused on easing home price surges in large cities while destocking supply glut in smaller cities.

Najib has been slapped with dozens of charges for corruption, money laundering, power abuse and criminal breach of trust involving billions of ringgit after his ruling coalition lost power during the national polls in May, 2018.

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Nadav Cohen, consul general of the Consulate General of Israel in Guangzhou, Guangdong province, is presented a certificate by Wang Qijun in recognition of his contribution to the friendship between China and Israel. [Photo/Provided to chinadaily.com.cn]

NBS senior statistician Liu Jianwei said local governments continued to step up property regulation in July, strike a balance between demand and supply in order to promote the healthy development of the industry.

NEW YORK - YY Inc, a leading global social media platform based in China, announced on Tuesday a proposed offering of 0 million in convertible senior notes.

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Nadkarni joined a team of female scientists advising Mattel as it created a line of dolls that includes a Barbie marine biologist, astrophysicist, photojournalist, conservationist and entomologist.

NBS chief statistician Sheng Laiyun said the communique highlighted sound economic growth, greater overall national strength and international influence, better quality growth, and new growth drivers.

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Nancy Pelosi, the House minority leader, said on Friday that she hopes that Schumer will be able to find out an immigration bill that Trump will support.

Muni Muniappan, director of the Integrated Pest Management Innovation Lab in the United States, said, "I would recommend all countries that expect invasion of the fall armyworm to set up task forces. Setting up regional task forces will help coordinate forecasting, monitoring and sharing of information on management of the worm," Muniappan said.