Continuing its crackdown against entities allegedly involved in a front-running scam using messaging app Telegram, Sebi on Thursday carried out search and seizure operations at the premises of eight entities in multiple locations across the country. Telegram was founded in 2013 by two Russian brothers, Nikolai and Pavel Durov. "Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added. On Feb. 27, however, he admitted from his Russian-language account that "Telegram channels are increasingly becoming a source of unverified information related to Ukrainian events." The picture was mixed overseas. Hong Kong’s Hang Seng Index fell 1.6%, under pressure from U.S. regulatory scrutiny on New York-listed Chinese companies. Stocks were more buoyant in Europe, where Frankfurt’s DAX surged 1.4%.
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