August ’19

Week 2 Week 3 Week 4 Week 5
Klips for 1st Aug

National 🇮🇳 | Amend law if needed but regulate Ola and Uber: SC to Centre
– The matter relates to a petition related to women safety
– The petition was filed in the aftermath of the 2012 Delhi gangrape

Fixed charges reduced but energy rates increased in Delhi
– The changes were made by the DERC whereby fixed charges for 5kW to 15kW were brought down to ₹100 from ₹175
– However energy charges were increased for households consuming more than 1200 units as also other categories

Economy & Business 💰 | US Fed cuts rate 25bps, rules out long series of cuts
– The cut was termed as a ‘mid-cycle adjustment to policy’
– The US dollar rose to its highest since May 17, with Asian markets likely to open lower
– This is the first rate cut since 2008

Sensex, Nifty log worst July in 17 years
– The BSE Small and Mid-Cap indices were down 7.87% and 10.87% respectively
– The Sensex has lost 4.86% and Nifty 5.69% in July

Sport ⚽️ | Ashes series underway in England, Aus look to end 19yr drought

E-sport: 16yr old Fortnite champion wins $3mn
– Kyles Giersdorf won the solo competition at the Arthur Ashe Arena, which also hosts the US Open
– The winning amount is more than what Djokovic won recently at Wimbledon

Opinion: Beyond Talaq – On Muslim divorce bill
– The article articulates all the valid reasons for questioning the need for a ‘law’

🗣Interesting: Chernobyl lessons unlearned – Russia hides another nuclear leak

🗣Interesting: How will changes in the law affect companies’ CSR?
– Unspent amounts (post 3yrs) will go into the PM Relief Fund

Klips for 2nd Aug

World 🌎 | Trump escalates trade war with China
– Says will impose 10% tariffs on an additional list of goods including mobiles, laptops etc
– The value of these goods is about $300bn
– Markets tumbled and oil fell 8%, its biggest drop in 4 years

National 🇮🇳 | 25000 additional troops deployed in J&K
– Many personnel were relieved of Amarnath Yatra duty
– The Governor said: ‘all was normal’

SC moves Unnao rape accused case to Delhi
– The move was to ‘allay gears that he could influence the outcome’ in UP
– BJP also expelled Kuldeep Sengar yesterday

Ahead of elections, Kejriwal announces free electricity upto 200 units
– A 50% subsidy is given upto 400 units
– The rate for 200 units is ₹1400 in Mumbai and ₹3300 for 400 units
– Kejriwal said the subsidy was already being provided and has been readjusted after reduction in fixed costs

Economy & Business 💰 | Autos: Worst sales in 2 decades in July
– Sales of top 5 manufacturers fell 31% from last year
– Maruti reported a fall of 37% in sales

GST collections grow 5.8% in July to ₹1.02trillion
– The central govt will have to compensate state govts as this is below the agreed 14% annual growth rate

Airtel posts first quarterly loss in 14 yrs
– The operator reported a loss of ₹2866cr, on account of a one time loss
– Avg monthly data usage was 12GB compared to 7.8GB last year
– Its ARPU rose to ₹129 from ₹123, largely due to reduced subscribers

Interesting: Hope floats – RTI activists march upto President’s house to deliver petition
– The petition is against the RTI Amendments Bill and has 2L signatures including 1.27L online signatures via

🗣Interesting: Despite Coffee Day’s popularity and scale, why does it make so little money?

Klips for 3rd Aug

World 🌎 | Thousands of civil servants join protest rally in HK
– The civil servants urged authorities to ‘rebuild confidence in the govt’
– A wave of protests are planned this weekend with a mass strike on Monday across sectors

National 🇮🇳 | Tourists, pilgrims told to ‘curtail stay in J&K’

Rajya Sabha passes UAPA bill
– The bill was passed with a 142-40 majority, with Congress and BSP supporting it
#UAPA: Unlawful Activities (Prevention) Amendment

Ayodhya case hearings to begin on Aug 6 in SC
– The appointed mediation panel was not able to reach an amicable solution
– The SC will hold hearings on a day-to-day basis

Economy & Business 💰 | FM to meet chiefs of banks to assess liquidity crisis
– As a first step ₹10000cr will be infused to ease liquidity for Housing Finance Cos.
– The scheme is called LIFT (sic)
#LIFT: Liquidity Infusion Facility

Raiding RBI reserves shows govt ‘desperation’: Subbarao
– The ex-RBI governor said that risks undertaken by RBI are different and it would not be fair to ‘draw from international practices’

Interesting: Maximum Mumbai – The pains of Mumbai’s infra projects
An excellent article that highlights the reasons for Mumbai’s daily struggles as several chaotic projects have been undertaken simultaneously. A must read if you’ve suffered in Mumbai’s traffic and locals

🗣Why is the government ignoring all the alarm bells from the economy?

Klips for 5th Aug

National 🇮🇳 | Complete lockdown in Kashmir, major political leaders under house arrest, mobile internet services suspended
– Section 144 was imposed from Sunday midnight
– A Cabinet meeting on Kashmir is set to take place this morning

Heavy rains hit Mumbai again, schools & colleges closed
– Mumbai received 204mm of rainfall in 24hrs
– This also marked completion of normal rainfall for the entire June-Sept period

Tech 📱 | Reliance to buy stake in Google-backed Indian startup Fynd
– The startup ‘connects brick and mortar stores to online consumers’
– RIL bought 87% stake at $42.3mn

News discovery app Smartnews valued at $1.1bn

🗣Opinion: Panic in Kashmir helps Modi deflect attention from sinking economy, even if fear is real

🗣The charm of an Indian tiffin
‘The word comes from the Old English ‘tiffing,’ which means having a little drink or a sip’

Klips for 6th Aug

National 🇮🇳 | Govt moves Jammu and Kashmir Reorganization Bill, RS passes it
– Once passed by Lok Sabha and the President, J&K’s special status will end
– The special status was granted in 1949 via Article 370

Economy & Business 💰 | Dow plunges 850 pts on US – China trade war
– China allowed the Yuan to slip below 7 per dollar
– It also stopped buying US crops after the recent tariffs imposed by Trump

Rupee drops most in 6 years
– Tension in Kashmir and Yuan’s devaluation led to the rupee falling 1.13 to 70.73

Tech 📱 | Bezos sells Amazon stock worth $2.8bn
– Bezos is said to use the money for his rocket company, Blue Origin

GoWork raises $53 million from BlackRock, CLSA
– This represents Blackrock’s first investment in an Indian startup
– GoWork is a coworking space based in Gurgaon

🗣️Opinion: India is creating its own West Bank
– A well written article on the significance of the govt’s manoeuvres on Article 370

🗣️Interesting: Ravish Kumar’s Magsaysay award victory
– Do read the citation, excellent articulation
Magsaysay Award Foundation:

Klips for 7th Aug

National 🇮🇳 | Sushma Swaraj passes away
– She suffered a cardiac arrest and was 67

Parliament approves bill to bifurcate J&K
– There was a healthy debate where both for and against points were placed
– 370 votes were in favour of the overall bill
Read the debate and what leaders had to say:

Economy & Business 💰 | BP to enter retail fuel market via RIL tie up
– BP will own 49% stake in the new JV

Tech 📱 | Disney to bundle Hulu, ESPN+ and Disney+ for price of Netflix
– Hotstar is owned by Disney via its purchase of Star TV (though these plans aren’t expected for India soon)
Sport ⚽️ |

Interesting: Reel ‘Article 370’: Producers race to register titles
– ‘Article 370, Article 370 Scrapped, Article 35A, Article 370 Abolished, Article 35A Scrapped, Kashmir Mein Tiranga, Kashmir Hamara Hai and 370 Article’ are in demand

These Countries Are the Most at Risk From a Water Crisis
– India is 13th on the list (extremely high risk), with Middle Eastern & African countries dominating it
– India’s population is 3 times the population of the remaining 16 countries in the category

Opinion: The Bus to better transport
– And excellent and short article that drives home an important: Indian cities need buses and lots of them to tackle congestion. And more importantly an image makeover

Klips for 8th Aug

National 🇮🇳 | Floods kill 16 in Maharashtra, thousands displaced
– Heavy rains and overflowing rivers led to flooding in 5 districts
– Authorities moved more than 1.4L ppl to safer places
– Kolhapur received 24.5 inches of rainfall leading to severe flooding

Economy & Business 💰 | RBI cuts interest rates by 35bps
– This is a departure from a norm it has followed (changes are generally done in multiples of 25bps)

Auto sector witnesses massive job losses
– Around 40000-50000 workers have been retrenched in the Gurgaon Manesar belt itself
– 2 factories of Maruti and one each of Hero and Honda are housed in this belt
– The situation is similar in other auto manufacturing hubs such as Chakan and Chennai

Pakistan suspends bilateral trade with India
– It also expelled the Indian High Commissioner

Tech 📱 | Samsung launches Galaxy Note 10, prices start at ₹67,300

Opinion: Lyft Joins the Litter of Unicorn Disappointments
– Almost all the recent tech, unicorn startup listings are below their IPO prices

🗣Opinion: Kashmir, the Incompleteness Theorem and the China Syndrome
– ‘If a government can produce re-interpretations of the Constitution that state that ‘cat’ now means ‘dog’, there is no telling where this will lead India.’

Klips for 9th Aug

National 🇮🇳 | Pak halts trains to India, bans Indian films
– Meanwhile, Kashmir continued to be remain under full communication blackout for a 4th consecutive day

Economy & Business 💰 | Uber reports $5bn loss, weak revenue growth
– Its stock ended 6% down after-hours after having risen 8% before the results
– Of the $5bn losses, $3.9bn were for ‘stock-based compensation’

Sensex, Nifty surge for 2nd day on reports of easing FPI investment rules
– The FM is meeting with investors to take a call on the proposed tax on FPI investments

DHFL warns of possible debt repayment defaults
– The company said its repayments might be delayed in the near future
– DHFL had overall outstanding debt of ₹1 trillion as of Dec ‘18

Tech 📱 | Facebook loses appeal over facial recognition tech, could face huge fines
– The matter relates to Facebook recognising people’s faces from which they need to explicitly opt out
– This was seen as a violation of Biometric and Data protection laws in Illinois, USA
#India has no such laws and FB continues to freely collect, tag and store such information

Sport ⚽️ | EPL transfer ends: Lakaku out and other deals

Interesting: Nestle starts selling Starbucks-branded coffee in China

🗣Opinion: RBI has done its bit to boost India’s economic growth, now the govt needs to do its share
– A look at what the govt can do (given constraints), the Laffer curve

Klips for 10th Aug

National 🇮🇳 | Thousands protest in Kashmir despite restrictions
– It is reported that 10000 people were part of the protests and police resorted to tear gas shelling to dispel the protestors
– It is also reported that over 500 political leaders and separatists have been detained
– Communication lines continue to be shut

J&K and Ladakh to become Union Territories from Oct 31
More details on RS, LS and legislature seats – Livemint:

Andadhun wins award for best film in Hindi at 66th National Awards
– Gujarati film Hellaro was awarded the best film overall

🗣NDTV’s Pranoy Roy detained at Mumbai airport
– Roy was travelling outside India and as per a statement by the media house was detained ‘on the basis of a fake corruption case by CBI’

Economy & Business 💰 | SC upholds rights of homebuyers as financial creditors
– This enables an aggrieved homeowner to seek relief under 3 laws – RERA, Consumer Protection Act and IBC

Tech 📱 | Harmony: Huawei’s new operating system
– Huawei will continue to use Android for its phones, but will gradually roll out Harmony
– In order to attract developers, Huawei is willing to cut its fee to 10-15% (Apple charges 30%)

Opinion: Google’s Android, the Defensive Play That Started a Revolution

🗣Interesting: Lyft finally sees a path to profitability: raising prices

Klips for 12th Aug

National 🇮🇳 | 100s chant anti-India slogans in Kashmir
– Some women were seen holding paper banners that read: ‘Modi, Kashmir is not your father’s property.’ & ‘Save Article 35A’
– Restrictions were reimposed following the protests and communications continue to be blocked for a 7th day

Death toll in floods rises to 147, hundreds of thousands evacuated
– In Kerala alone 47 were killed with 165,000 were moved to relief camps
– Floods have now affected Kerala, Karnataka, Maharashtra, Assam, Gujarat and Bihar

Sonia likely to lead Congress for 6 months
– She was chosen by the CWC after ‘12hrs of deliberations’ in which no other contenders (apart from the Gandhis) were discussed

Tech 📱 | Telegram introduces a feature to prevent users from texting too often in a group
Sport ⚽️ |

Interesting: Zomato delivery boys to go on strike; refuse to deliver pork and beef
– As expected, there was no ‘smart’ tweet from Zomato on this issue. Do read the comments

Interesting: Delhi’s Chandni Chowk to get a new look
– The 1.5km stretch upto Red Fort will be a car free zone, overhead cables will be moved underground and a walkway will be created
– The project is expected to be completed by March 2020

Uber, Ola and other ride-hailing apps are worsening the developing world’s traffic problems
#Article originally featured on WEF website

Opinion: Let’s accept a fact: India’s new normal is now 5% growth

Klips for 13th Aug

National 🇮🇳 | Kashmir stays locked down on Eid
– The Home Ministry acknowledged that there have been sporadic incidents of stone pelting
– Residents stayed away from celebrations: ‘What are we celebrating? I can’t call my relatives to wish them Eid, we can’t go out to buy things. So, what kind of celebration is this?’

World 🌎 | Hong Kong’s airport reopens, more than 200 flights cancelled
– China also said that the protests were showing ‘sprouts of terrorism’, despite most of them being peaceful

Economy & Business 💰 | RIL AGM: Aramco stake sale, GioFiber Launch, Microsoft partnership
– RIL will sell 20% stake in its refinery business to Aramco at $15bn
– JioFiber will offer speeds from 100Mbps to 1Gbps with plans starting at ₹700
– Also RIL announced a cloud partnership with Microsoft’s Azure, which will take on Amazon’s AWS in India

🗣Opinion: Barbed wires, deserted streets & simmering anger — Srinagar laments a broken Eid promise

Interesting: Reliance-Microsoft cloud tie-up poses threat to Amazon, Google in India

Interesting: Apple Card review – The card of the future is no card at all

Klips for 14th Aug

World 🌎 | Trump delays China tariffs to Dec 15
– The proposed tariffs have been split into to: those related to agriculture, clothes will be imposed from Sept 1, as before
– However, tariffs on electronics, cellphones etc have been delayed

National 🇮🇳 | SC adjourns hearing on pleas related to J&K for 2 weeks, says it ‘needs more time’
– The petitions relate to lifting curbs placed on J&K residents which includes a communication lockdown
– The matter was originally brought to the court on Aug 8, when it denied a early hearing

Economy & Business 💰 | RIL shares see biggest intraday jump in a decade
– Shares jumped as much as 12%, the highest since Jan 2009, following the launch of JioFiber and stake sale to Aramco
– Rival Idea-Voda’s stock fell 10% while Bharti Airtel fell 7% before recouping losses

EPFO looking for early redemption of ₹700cr worth DHFL bonds
– EPFO has struggled to redeem ₹574cr from IL&FS
– It has already redeemed ₹201cr and had ‘considered approaching NCLT’

Auto sector records worst sales in 19 years in July
– Car sales fell 31% and bikes sales fell 19%
– It was the worst sales performance since Dec 2000 (35% decline)
– This differs slightly from Aug 2nd headline which referred to worst sales numbers for July (these are for all months)

Opinion: India’s Richest Man is turning cautious. Bad Sign
– While Mukesh Ambani’s words and launches sounded optimistic, his actions paint a story of caution

Interesting: Would you rent out your living room for a few hours? This startup is counting on it

Klips for 15th Aug 🇮🇳

National 🇮🇳 | Floods toll count rises to 270, a million plus displaced

All 6 ‘cow vigilantes’ acquitted in Pehlu Khan lynching case
– The prosecution was unable to link the accused to the crime despite videos of the lynching being shot

Abhinandan Varthaman, 5 IAF pilots get gallantry awards
– The Vir Chakra was awarded to Abhinandan and the Vayu Sena Medal was awarded to 5 IAF officials

Economy & Business 💰 | Gurgaon restaurants #Logout of Zomato and other dining apps
– Restaurant owners say the deep discounting on dine-ins by Zomato, Easydiner, Nearbuy, magicpin is hurting business
– Zomato Gold’s success, which gives members 1+1 offers, is considered the prime reason for this change in mindset
– These restaurants will continue to be listed on food delivery apps (Swiggy and Zomato)

SBI to dilute stake in credit card business via IPO
– SBI has been aggressively adding customers, with executives offering cards to almost anyone at metro stations, malls and other popular spots
– SBI holds 75% stake in SBI Cards and Payment services Pvt Ltd, with Carlyle group holding the rest

🗣Danish bank becomes first to offer negative interest rate on loans
– It offers -0.5% interest on a 10yr loan
– ‘We don’t give you money directly in your hand, but every month your debt is reduced by more than the amount you pay’
Washington Post:

Interesting: Greta Thunberg – 16th yr old climate crusader begins voyage

Opinion: Symptom as Cause – On auto sector woes

Interesting: Fact check: Did BBC, Al Jazeera and Reuters fabricate reports about a large protest in Kashmir?
– The short answer is No, they did not. What’s surprising is the role played by other media houses and personalities to tag them as fake

Klips for 16th Aug

World 🌎 | 🗣China masses troops in stadium near HK
– In what was largely speculation, China is expected to use military force to quell the protests

National 🇮🇳 | Delhi to make bus rides for women free from Oct 29
– Kejriwal made the announcement during his last I Day speech
– On the proposal to make rides free on the Delhi metro too, he said discussions were still on

Economy & Business 💰 | Zomato asks eatries to serves 45 day notice, before exiting
– While other platforms have been willing to negotiate terms with the restaurants, Zomato has taken a hard stand
– The matter relates to deep discounting on Zomato Gold and other platforms

Tech 📱 | Twitter leads $100mn funding round in India’s ShareChat
– This round values the social media platform at $650mn

Opinion: Words and deeds – On Modi’s I-Day vision
– ‘if India is to be on a new course for the better, it needs more than grandstanding from the Red Fort. Deeds must follow words as noon follows dawn.’

Interesting: What3words: The app that can save your life
– ‘What3words divides the world into 57 trillion squares, each with a unique three-word address’

🗣Opinion: India@73: A government growing more popular, the spirit of India’s Constitution getting weaker
– A perfect summary of all summaries that paints a true picture of India. A must read.

Klips for 17th Aug

World 🌎 | Cathay CEO resigns over mounting pressure from HK protests
– The company was under pressure as a number of its employees were a part of the protests
– China’s aviation regulator demanded last week Cathay suspend several staff

National 🇮🇳 | Schools, telephone lines to open ‘soon’ in Kashmir
– There were mixed and confusing reports as to when this will happen
– However, there was no mention of when mobile connectivity will be restored

China, Pak fail to censure India at UNSC
– In a closed door meeting, China was unable to trump up support to censure India

Tech 📱 | YC backed Lokal tries to bring local news to the masses
– In 11 of 18 districts in Andhra, the startup has a bigger presence than most media houses

Interesting: 87 Payment Apps Face an Uphill Battle to Turn India Cashless
– Good data points on cash usage, no. of digital tranx

Opinion: Trump Isn’t Crazy to Want to Buy Greenland
– Why buying an entire island isn’t all that outlandish for the US

🗣Interesting: The Walkman celebrates 40 years of portable music

Klips for 19th Aug

World 🌎 | 1.7mn protest peacefully in HK on Sunday, more rallies expected
– The protests have now gone on for 11 weeks
– What is worth noting is that protestors clean up the public places once each of these protests end

National 🇮🇳 | Curbs reimposed in Kashmir amid violence
– It is reported that there were 47 incidents of stone pelting on Saturday followed by another 20 on Sunday
– Internet and communication services continue to remain blocked, despite assurances that they will be opened up
– The govt did not respond to questions on the incidents

Heavy rains lash northern states, 28 dead
– Delhi has also sounded a flood alert as water levels of Yamuna continue to rise
– Ironically Delhi also breathed the cleanest air of the year so far (47 AQI), due to the heavy rains

Economy & Business 💰 | FPIs have pulled out ₹8319cr in Aug so far
– This is due to the ‘extreme negative sentiment’ as per traders with FPIs pulling out money in 9 of the 10 trading sessions
– While they sold equities worth ₹10k cr, they were net buyers for debt worth ₹2k cr

Tech 📱 | Zomato backs down on stand, agrees to negotiate with restaurant owners
– Zomato founder Deepinder Goyal said via Twitter that he was sad that ‘young entrepreneurs like him’ were feeling the pressure in the restaurant business

Sport ⚽️ | Gritty Mendedev beats Djokovic to win Cincinnati Masters

Opinion: ‘The Idea of India’ is failing
– Do read the comments

🗣Opinion: One of the most accurate predictors of a future recession, the yield curve is flashing warning signs
– A crisp, simply worded explanation of the ‘yield-curve inversion’ that everyone is talking about

Klips for 20th Aug

Economy & Business 💰 | 🗣DHFL defaults once again, this time worth ₹1571cr
– The article however does not feature in the major headlines of most media outlets

Voda Idea CEO quits citing ‘personal reasons’
– However, he will continue to be with Vodafone Group
– Voda Idea’s stock has fallen from ₹30 to ₹5.99 in one year
– It has lost subscribers every month since the merger and has a net debt of ₹1.2 trillion

Visa hits out at govt move to remove MDR
– In a bid to boost digital transactions, the FM said in her budget speech that ‘no charges or MDR would be imposed on customers as well as merchants’
#MDR: Merchant Discount Rate

Raghuram Rajan: ‘India slowdown very worrisome’, reforms need of the hour
– Rajan said that the govt needs to tackle the problems with NBFCs and power sector
– He also said that the way GDP growth is calculated needs to be re-evaluated

Tech 📱 | TikTok launches Hashtag Challenge Plus
– This will allow user to buy goods directly from within the app
– In essence brands can now directly sell goods via the short video format

🗣Opinion: Democracy under siege

Opinion: Masa’s Visionary Sequel Has a Desperate Look

Klips for 21st Aug

World 🌎 | Kashmir situation lot to do with religion, but will try best to mediate: Trump
– He said that while both Modi and Imran Khan get along well with him, they aren’t exactly friends

National 🇮🇳 | Kashmir remains tense as some restrictions eased
– Barriers were removed from the clock tower at Lal Chowk, but commercial establishments remained shut
– Soura, which is becoming the hotbed for protests, has been locked out by residents
– While some schools opened, and the official statement is that attendance has considerably improved, Reuters found all of them empty

CBI at Chidambaram’s door after HC rejects anticipatory bail plea
– The matter relates to the INX Media case involving money laundering and corruption

Economy & Business 💰 | 🗣82,000 ordnance factory workers on strike as talks fails
– The factories are used for urgent production needs (like manufacturing of weapons for Kargil)
– The govt is trying to privatise these factories
– In essence the land, almost 20000 acres, will become open for private investment
#This rather imp matter has got limited to no coverage in the media

Opinion: The revolt against food delivery apps

Interesting: The two Adani Group cases listed out of turn

Apple’s TV Splurge Just Adds to the Madness

Klips for 22nd Aug

National 🇮🇳 | Chidambaram arrested by CBI in corruption case
– The Delhi HC rejected his claim for exemption from arrest
– The CBI is investigating him since 2017 under the INX media case and has interrogated him previously

Separatists urge Kashmiri’s to join march after Friday prayers
– ‘Every person, young and old, men and women, should march after Friday prayers,’ said one poster
– Kashmir remains clamped down with all communications (including mobile networks) shut down for 18 days

Souther Railway to stop housekeeping services on 86 long-distance trains
– It cited lack of funds as the reason for this
– Southern Railways has also ‘sent an SOS’ to the Railway Ministry seeking funds

Economy & Business 💰 | Parle says may cut 10000 jobs due to slowdown
– The company said the problems started in 2017, since biscuits were included in the 18% GST category, the highest slab (For comparison, a Starbucks coffee attracts 5% GST)
– This hike directly impacted low-priced biscuits as the costs had to be pushed to the consumers

EVs: Govt shifts stance again, says no deadline on automakers
– ‘The shift to electric vehicles will happen in natural progression’ said Nitin Gadkari
– The NITI Aayog has proposed to ban all non EV 2-wheelers by 2025 and 3-wheelers by 2025

Amazon opens its biggest campus in Hyderabad, will house 15000 employees

Interesting: Shadow Bank Crackdown Accelerates in India Amid Cash Squeeze

Opinion: Xiaomi Has a Secret Money Maker
Investors are still not convinced that Xiaomi is a ‘services company’

Klips for 23rd Aug
World 🌎| 🗣Bolsonaro says Brazil lacks resources to fight Amazon fires
– Just last week Bolsonaro rejected aid to fight the fires

National 🇮🇳 | Fuel supply stopped to Air India due to ‘unpaid dues’ at 6 airports
– Fuel supply has been stopped at Patna, Pune, Mohali, Ranch, Vishakapatnam and Kochi airports

Economy & Business 💰 | Amazon acquires minority stake in Future Retail
– Amazon bought 49% stake in Future Coupons which in turn owns 7.3% stake in Future Retail
– Amazon effectively owns 3.58% stake which is valued at $104mn
– But Amazon paid a significant premium for it, though the amount is unknown

Stock markets fall 1.5% after govt response to stimulus package
– India’s Chief Economic Advisor said companies should not depend on govt for stimulus and should ‘change their mindset’
– The Sensex has fallen nearly 4000 pts or 10% since the Budget in July
– The rupee too is on a downward move, now nearing 72 to the dollar, an 8 month low

IRCTC files for IPO, Center could make ₹500-600cr
– The govt will dilute about 12.5% of its stake
– Oddly, IPOs are filed when markets are booming, not when they are in a turmoil

Tech 📱 | Google ditches dessert names, Android Q to be called Android 10
– Google also updated its logo for Android
Sport ⚽️ |

Interesting: What’s floccinaucinihilipilification? Ask the RBI
– People had to resort to dictionaries and Google to decode the RBI Governor’s recent speech

Interesting: Peppa Pig gets new owner
– Hasbro to buy eOne in $4bn deal

🗣Opinion: The World has a Germany problem
– An excellent article by Paul Krugman
– This sums it up: A Trade war with Europe ‘is the last thing either America or Europe needs. Which means that Trump is probably going to do it.’

Klips for 24th Aug

National 🇮🇳 | Kashmir: Security forces clash with protestors, resort to tear gas, chilli grenades
– Check the raw cut video of the protests by Reuters

Economy & Business 💰 | Govt ‘rolls back’ FPI, CSR penalty proposals
– The attempts are seen as boosts to a struggling economy
– The govt also ‘promised’ to clear all pending GST refunds within 30 days and future refunds within 60 days
– FM has undone most of the damages caused by her maiden budget: Market analysts (Livemint: )

China hits back at US with tariffs on goods worth $75bn
– China will impose additional tariffs of 5-10% on 5078 products and will come into effect from 1st Sept and 15th Dec

Moody’s cuts India’s growth forecast by 60bps to 6.2% for 2019
– Likewise it also lowered te 2020 projection to 6.7%
– It listed ‘weak hiring, financial distress among rural households, and tighter financing conditions due to stress among non-bank financial institutions’ as factors for sluggish growth

SBI cuts FD, deposit rates
– FD rates were cut by 10-50bps, and 30-70bps for bulk deposits
– Interest rates on loans were kept unchanged
– It cited excess liquidity and falling interest rates as reasons for the cuts

Tech 📱 | Netflix testing out ‘Collections’
– These are curated lists by experts on what’s worth watching on Netflix

🗣Interesting: Satellite images of Amazon fires indicate that land is probably being cleared for cattle pasture

🗣Opinion: India’s economic crisis has only one root cause

Klips for 26th Aug

World 🌎 | Trump ‘regrets’ not raising tariffs higher: White House
– Trump had responded in the affirmative to questions on if he was having second thoughts on China tariffs
– The statement comes as a clarification to this

National 🇮🇳 | Manmohan Singh set to lose SPG cover
– It is reported that the order has been been given ‘orally’ and the decision was taken on May 25, two days after the election results
– The protection was extended to former PMs after Rajiv Gandhi was assassinated in 1991

Economy & Business 💰 | No new investments from Alibaba in India, to focus only on existing portfolio
– Alibaba is yet to have a successful exit and has investments in Paytm, Zomato, BigBasket and Snapdeal

Sport ⚽️ | PV Sindhu wins India’s first World title
– Sindhu beat Japan’s Okuhara to become the first Indian to win at the World Badminton Championships
– It was 3rd time lucky for Sindhu as she had lost the previous 2 finals
– Also, Sai Praneeth won the Bronze in the Men’s draw

Opinion: On the wrong side – On Press Council of India backing Kashmir restrictions

Opinion: Why India’s labourers can’t afford to buy a packet of biscuits for Rs 5

🗣Interesting: Bajaj Tempo Matador -The camper van with a cult following

Klips for 27th Aug

World 🌎 | G7 agrees to provide aid for Amazon fires, Bolsonaro terms it colonisation
– The G7 countries agreed to provide $20mn in aid with Macron leading the effort
– Celebrities have also joined the call to take urgent steps, with DiCaprio personally contributing $5mn

National 🇮🇳 | 🗣 Delhi govt approves ₹290cr grants for free bus & metro rides for women
– While the free bus rides will commence from Oct 29, the metro rides plan needs DMRC approval

Economy & Business 💰 | Govt to get ₹1.76 trillion as dividend from RBI
– The decision was made by an ‘independent’ committee appointed specifically for this, and approved by the RBI Board
– This was the bone of contention that led to former RBI Governor Urjit Patel’s exit

Sensex jumps 793pts or 2% after booster and expectation of RBI dividend
– The largest jump was seen in PSU banks which rose 3.57% as a large part of the dividend is likely to be used to recapitalise them (₹70000cr)
– The FM announced a slew of rollbacks and measures but markets opened down almost 1%
– RBI’s announcement came after market hours

Tech 📱 | Amazon’s free streaming service, IMDB TV, comes to mobile
– The ad supported service is presently available in the US

Opinion: Four reasons why Sitharaman’s stimulus measures are short on vision
– ‘When you’re always fighting fires, it’s difficult to turn off the water hose and start tending the garden.’

Opinion: Time to strike the gavel
– An excellent critique of the SC and the CJI’s lack of will to take the right action (or any action). The article also highlights a similar failing of the SC in 1976 as Emergency was imposed

🗣Interesting: In 21 days, 21 reasons to believe ‘Kashmir is normal’

⭐️ 🗣A social venture is putting more e-rickshaws on UP and Bihar roads, cutting emissions drastically

Klips for 28th Aug

World 🌎 | 🗣Pak says may close airspace to India
– The airspace was only recently opened in July after its closure following Balakot air strikes
– Airlines needed to take a far longer route which cost them millions of dollars

National 🇮🇳 | PMO note on NHAI only suggestion, will continue to build roads: Gadkari
– The PMO last week had said that NHAI should no longer construct roads, but become an AMC
#AMC: Asset Management Company
#NHAI: National Highway Authority of India

Ram Setu was built by Indian engineers: HRD minister at IIT convocation
– The remarks were made by Union HRD Minister Ramesh Pokhriyal Nishank at IIT Kharagpur
#Some of the minister’s other thoughts on our history & education are worth listening to: (Prime Time with Ravish Kumar)

Economy & Business 💰 | HUL reduces prices of Lifebuoy, Lux in sign of weak demand
– For some packs prices were reduced by 20-30% while the minimum reduction was 4-6%
– Interestingly, prices of face washes were increased 4-14%
– Lifebuoy is the highest selling soap across homes in India

Opposition hits back at govt over RBI’s ₹1.76 trillion payout, term it as ‘stealing from RBI’
– Rahul Gandhi tweeted:’It’s like stealing a band-aid from the dispensary and sticking it on a gunshot wound’

Opinion: A Rainy-Day Giveaway From India’s Central Bank

🗣Interesting: Explainer – Why the RBI approved a record Rs 1.76 trillion transfer to the Modi government
– A small explainer by Scroll on the What, Why and How of RBI’s transfer to the govt

Klips for 29th Aug

World 🌎 | Boris Johnson to suspend British parliament
– Parliament will be suspended from mid-Sept to mid-Oct reducing the chance for debating Brexit
– The Queen’s Speech, as it is called, will be held on 14th Oct after which Parliament will be suspended
– This also increases the chance of a no-confidence vote against Johnson’s govt

National 🇮🇳 | 🗣NSA-level meet today, France keen to sell second batch of 36 Rafales
– The first batch is expected to be delivered in Sept

Economy & Business 💰 | Govt eases FDI norms for single-brand retail, 4 sectors
– Single-brand retailers, like Apple, can now set up online stores without first setting up physical stores
– Norms were also eased for digital media, coal mining, fuel sale & associated infrastructure
– Local sourcing norms were also eased and 100% FDI is now allowed in contract manufacturing

Yes Bank falls 7% after Moody’s downgrade
– The bank’s planned capital raise fell short of expectations which led to the downgrade
– The stock has fallen 84% in one year

Tech 📱 | Apple to gain significantly from India’s new FDI rules
– Apple likely to launch its own online store, without first having to set up physical stores
– Presently it sells via partnerships with resellers or Amazon and other e-comms

Interesting: Tesla Unplugged – In Singapore, It’s Just Another Unwelcome Car
– ‘The world’s most-crowded cities need to rethink whether a personal vehicle – electric or not – is a future and a lifestyle around which they want to build at all.’

Opinion: Kashmir’s Information Vacuum
– A complete communication lockdown is less about ‘national security’ and more to do with quelling dissent

🗣Interesting: The destruction of the Amazon is terrible news, but it won’t affect the world’s supply of oxygen
– The oft-cited claim that the Amazon fires will affect 20% of the world’s oxygen are misplaced.

Klips for 30th Aug

GDP growth rate falls to 5%, at a 6-yr low
– The previous low was 4.9% in 2012-13

National 🇮🇳 | Flats, Freebies vs Flamingos: Maharashtra govt bends over backwards for real- estate sector
– Just ahead of assembly polls, the govt seems keen on ‘fast track approvals’ for real-estate sector in Eco-Sensitive Zones
– The apex court has banned such construction in buffer zones
– Last week, CM Devendra Fadnavis approved ₹800cr worth of sops for this sector

World 🌎 | Ebola deaths in East Congo cross 2000

Economy & Business 💰 | Gold records best month in 3 years as uncertainty prevails across markets
– Gold has gained almost 8% this month, the highest since June 2016

Tech 📱 | Apple to launch next iPhone on Sept 10
– The iPhone 11 and Pro versions are expected to be launched

Interesting: Tokyo World’s safest city, Mumbai 45th, Delhi 52nd: Economist Intelligence Report

⭐️ Hebbar’s Kitchen: Of Whatsapp recipes and more
– Story of how a ‘Karnataka couple set up one of India’s biggest recipe Empires
The Better India (TBI):

Opinion: India Offers a Bargain – Our Consumers, Your Jobs
– On the recent FDI relaxations and their impact on jobs and businesses. Also includes: An excellent chart by Bloomberg to track economic indicator that are stronger/weaker

Klips for 31st Aug

National 🇮🇳 | Assam ‘anxious’ ahead of NRC headcount
– The NRC will be published later today
– The state remains on high alert as atleast a large number of people are likely to be excluded
– The draft NRC has excluded 41lakh people
#Update: Over 19L ppl have been left out

Aarey colony Tree cutting: Calls of ‘betrayal’ after BMC Tree Authority approves removal of 2646 trees
– It does appear as though the BMC pushed through the vote without letting those who opposed it about the vote
– Even the experts seem to have been kept in the dark
– Citizens have organized protests and are voicing their protests on social media too

Economy & Business 💰 | FM announces plan for PSB mega-merger
– As per the plan 10 state-run banks will be merged into 4
– PNB, Oriental Bank of Comm, Union Bank will be merged to former the 2nd largest PSB
#PSB: Public Sector Bank

Tech 📱 | Twitter CEO’s Twitter account hacked
– Jack Dorsey has 4mn + followers
– The hack became possible due to an option in Twitter to post via SMS

Interesting: A Quarter of Many Lows

Interesting + Op-Eds: In Kashmir Shops Are Closed and All Is Silent, But It’s Far From Peaceful
– ‘Kashmiris are used to preparing for long winters when snow forces us to wait indoors. The people can wait.’
#Indian media seems to be ‘unaware’ of the issues and continues to ignore the lockdown in Kashmir