January ’19

Week 2 Week 3 Week 4 Week 5
Klips for 1st Jan 2019

Global 🌍
Protest march in Hong Kong demanding full democracy on New Year’s day
– 1000’s of protestors walked the streets demanding autonomy and an end to ‘political repression’ from Beijing
– The former British colony was returned to China in 1997 promising ‘one country, two systems’
Reuters: https://reut.rs/2LGNX8m

Hasina registers landslide victory in Bangladesh amongst strong allegations of rigging
– Her party alliance won 287 of the 298 seats
– 17 people were killed during these elections
Reuters: https://reut.rs/2LFCGVR

National 🇮🇳
In Interview with ANI, PM Modi talks about Urjit Patel, Ram Mandir, Demonetisation and other issues
– Says Patel’s resignation was his personal decision
– Demonetisation ‘wasn’t a jhatka’
BQ: https://www.bloombergquint.com/politics/pm-modi-interview-on-ram-mandir-ayodhya-rbi-urjit-patel-demonetisation

Economy and Business 💰
ATF prices cut by 14.7%, relief for airlines
– Unlike petrol prices which are revised daily, ATF is revised on the 1st of the month
BQ: https://www.bloombergquint.com/business/atf-price-cut-by-14-7-costs-less-than-petrol-diesel

Op-Ed 📝
Interesting: Kumbh Mela 2019 Explained: All About the Hindu Pilgrimage
🗣’What exactly is Kumbh Mela and why does it bear such significance on the social, political and cultural moorings of the country?’, explains The Quint. A nicely presented article.

Klips for 2nd Jan

Global 🌍
New Year’s day attacks in UK, Tokyo
– In seemingly unconnected incidents a knife attack took place in Manchester, UK while a car ploughed into revellers in Tokyo

National 🇮🇳
Jet Airways misses on loan repayment schedule
– The cash strapped airline said that this was due to a ‘temporary cash flow mismatch’
– The airline owes in excess of Rs 3000cr to banks as of Sept ‘18
BQ: https://www.bloombergquint.com/markets/jet-airways-misses-repayment-schedule

Kader Khan passes away
– He was aged 81

Economy and Business 💰
GST collection down for 2nd month in a row
– Although the collections had crossed the Rs 1Lcr mark in Sept, they have come down since then
– Collections were reported at Rs 94726cr in Nov
– Interestingly the returns filed have been on a steady increase (GSTR-3B)
BQ: https://www.bloombergquint.com/gst/gst-collections-fall-in-november

RBI to allow banks to restructure some MSME loans
– This is a ‘one time’ dispensation as per the RBI
– Additionally banks will have to make a 5% provision for the loans they restructure
Reuters: https://reut.rs/2rYRC8u

Op-Ed 📝
🗣Interesting: May the game be with you – Mary Kom
A nice read coming directly from Mary Kom herself on how India could work towards a better performance in the Tokyo 2020 Olympics. Crisply and objectively written, worth a read.
IE: https://indianexpress.com/article/opinion/columns/tokyo-olympics-2020-target-olympic-podium-scheme-ssa-5517660/

Opinion: Signs of a turnaround
A nice analysis of RBI’s Financial Stability Report. Also highlights why the PCA framework seems to be working to reduce ‘contagion risk’
Hindu: https://www.thehindu.com/opinion/editorial/signs-of-a-turnaround/article25884025.ece

Klips for 3rd Jan

National 🇮🇳
Rafale takes Center stage in LS as Rahul, Jaitley spar
– Gandhi said the PM could not face questions on the deal in Parliament and challenged him to a 20 min debate
– Interestingly the Shiv Sena joined the opposition in demanding a JPC
– Jaitley said: ‘It is a tragedy that the grand old party which was headed by the legends in the past is now headed by a gentleman who doesn’t have basic understanding of combat aircraft’
Hindu: https://www.thehindu.com/news/national/rahul-gandhi-arun-jaitley-spar-over-rafale/article25890669.ece

Govt introduces Aadhar Amendment Bill in LS
– While the govt says it’s not in violation of SC rulings on Aadhar and privacy, the bill already has faced stiff opposition
– The Opposition parties have demanded a draft of the Data Privacy Bill before deliberating on Aadhar amendments
BQ: https://www.bloombergquint.com/aadhaar/govt-introduces-aadhaar-amendment-bill-in-lok-sabha

Economy and Business 💰
Paytm allowed to commence signups for its Payments Bank
– In June, Paytm was asked to stop onboarding new users for its Payments Bank, after an RBI audit found several irregularities
– These included: appointing a ‘non-banking’ CEO, not maintaining net worth of Rs 100cr and also violation KYC norms
– However there is more to the issue, which will be detailed in a Klip Backstory (long pending)
VCCircle: https://techcircle.vccircle.com/2018/12/21/rbi-reveals-why-it-barred-paytm-payments-bank-from-on-boarding-new-customers
PTI/Livemint: https://www.livemint.com/Companies/Vji148utswoyvGm5nR20nI/Paytm-Payments-Bank-resumes-KYC-for-bank-wallet-customers.html

Jio adds 1cr subscribers in Oct ‘18 as competition struggles
– Vodafone Idea lost 70L subscribers in the same period
– The wild swings are likely due to a mandatory prepaid plan that Airtel and Voda-Idea pushed on its users, where they were forced to do atleast a Rs 40-50 recharge monthly irrespective of usage
– Jio offers its Jio Phone which almost exactly caters to this market but also provide a 4G Phone and data (similar price point)
BQ: https://www.bloombergquint.com/business/telecom-customer-base-edges-up-to-119-2-cr-in-oct-bsnl-rjio-gain-users

Op-Ed 📝
Interesting: This Year, Oscar More Likely to Go to Film You’ve Actually Seen
The Oscar nominations will be announced 22nd Jan but the evaluations begin from 6th. And this year we are likely to see a winner we can relate too, writes Bloomberg. Worth checking out for the list of movies you most likely should watch in the coming days (if you haven’t already)
Bloomberg: https://www.bloomberg.com/news/articles/2019-01-02/this-year-oscar-more-likely-to-go-to-film-you-ve-actually-seen

Opinion: RSS is Likely Using Nitin Gadkari to Divide and Rule the BJP 
While the larger debate on whether it will be Modi vs Rahul/Third Front etc rages on, a more interesting battle is in the works within the BJP. An article worth reading to understand the dynamics of party politics. Also imp to understand how caste/allegiances and not necessarily skills decide who becomes a leader in our country and why
The Wire: https://thewire.in/politics/nitin-gadkari-bjp-narendra-modi-amit-shah-rss

Klips for 4th Jan

National 🇮🇳
Maggi case: SC says that proceedings in the 2015 case will be on basis of lab reports
– The reports showed that lead content was within permissible limits
– Popular media sources have reported this fact differently
– Headlines range from: ‘Nestle in soup over Maggi’ to ‘Maggi has lead in it’
Reuters: https://reut.rs/2LQgLv5

Economy and Business 💰
Apple issues revenue forecast warning, spooks investors
– Apple’s shares fell 10%
– Apple’s first revenue warning in 12 years comes on the back of weak holiday sales in China
– In its filings, Apple has stopped reporting unit sales data for the iPhone and other devices since Nov ‘18
Reuters: https://reut.rs/2LPYNZz

Big Pharma: Bristol-Myers to Buy Celgene in $74 Billion deal
– If the deal goes through it would be the largest pharma acquisition ever
– Both companies are in the domain of cancer drugs
BQ: https://www.bloombergquint.com/business/bristol-myers-squibb-to-buy-celgene-in-74-billion-pharma-deal

‘Ecomm firms can’t own or control inventories’, Commerce Ministry
– This comes after the Ministry’s earlier notification led to confusion
– The restrictions kick in on 1st Feb
BQ: https://www.bloombergquint.com/technology/e-commerce-firms-cant-own-or-control-inventories-commerce-ministry-reiterates
Statement: https://dipp.gov.in/whats-new/response-comments-reported-media-press-note-2-2018

Sport ⚽️
F1 fans pay tribute to Schumacher on 50th birthday
– The 7 time world champion has not been in public view since he suffered severe brain injuries 5 years ago while skiing

Op-Ed 📝
Opinion: Tim Cook Needs Better Ideas Than This for Apple
While Apple is trying to justify its downturn in revenues by saying its due to the economic conditions in China, it’s own strategy to counter it seems weak (trade-ins). Also what Apple’s warning doesn’t talk about is it fall in market share in a slowing Chinese market. Worth a read
Bloomberg: https://www.bloomberg.com/opinion/articles/2019-01-03/apple-and-tim-cook-need-better-ideas-than-this?srnd=opinion

🗣Opinion: On GST shortfall
The article crisply points out why the GST shortfall is matter of serious concern. For eg. The avg collections now needed have jumped to ₹1.34L cr a month from earlier target of ~₹1L cr
Hindu: https://www.thehindu.com/opinion/editorial/gst-shortfall/article25892792.ece

🗣: Subscriber contributed article
You can contribute good articles worth reading too. Just send across the link and we’ll try and feature them

Klips for 5th Jan

Global 🌍
German politicians’ data leaked online
– The data was obtained through ‘wrongful use of log-in information for cloud services, email accounts or social networks’
– It was published on a Twitter account and included addresses, personal letters and ID card copies
Reuters: https://reut.rs/2BYOPkc

National 🇮🇳
SC differs Ram Janmabhoomi matter to 10th Jan
– It was expected that the SC would decide the date of final hearing today
– However, in barely 30 sec, the matter was deferred to the 10th when an ‘appropriate bench’ will fix date for hearing
BloombergQuint: http://bit.ly/2TnM8Qi

Sitharaman gives ‘point-by-point’ rebuttal on Rafale deal in over 2hr reply
– Says the Congress and Rahul Gandhi are misleading the nation on Rafale
– Also asserts that the first Rafale jet will land in India in Sept this year
– However, does not give a Yes/No answer on specific question on Hollande’s interaction with Modi regarding Anil Ambani
Hindu: http://bit.ly/2Tt0HC5

Yogi Adityanath claims there have been no riots in his near 2yr tenure so far in UP
– Union Minister of State for Home Affairs recently submitted to the Parliament actual numbers of riots
– As per those number, in UP, the number of incidents have gone up by 32% since 2014 and 44 people have died in such incidents
– UP, the largest state in India, also has the highest % of riot incidents 23%
The Wire: http://bit.ly/2TshbKU

Economy and Business 💰
Tech 🖥 📱
Samsung Galaxy S10 likely to have punched out hole design
– This was seen in a leaked photograph of the phone
Techcrunch: https://tcrn.ch/2COdPfE

Op-Ed 📝
Opinion: Triple Talaq Bill – A case of unprincipled criminalisation
The ‘Triple Talaq bill’ is being politicised (as it is a matter of polity with a ‘populist agenda’). However from a pure legal standpoint, does the bill even need to exist? An extremely well written piece, with minimum legal verbiage, tries to explain the real problems with the bill
Hindu: http://bit.ly/2CPheL7

Opinion: The Editors Guild Doth Protest Too Much
In a recent interview to ANI the PM tried to answer several important questions about Demonetisation, jobs, lynchings. The author however states several more questions/cross-questions that should have been asked and says the Editors Guild should seriously introspect why ‘the public has such a low opinion of Indian journalists’. Worth a scan.
The Wire: http://bit.ly/2TrjrSo

Interesting: The Illusion of Choice in Netflix’s ‘Bandersnatch’
Netflix’s latest ‘interactive film’ feels more like the dystopian future shown in earlier seasons of the Black Mirror: an illusion of choice.
The Wire: http://bit.ly/2CR29ZL

Klips for 7th Jan

Global 🌍
Yellow Vest protests erupt again in Paris
– While the turnouts have been lower, the protests have continued almost every weekend
– Macron has hardened his stance against protestors, calling them agitators
– He said in his New Year’s speech: ‘We can’t work less, earn more, cut taxes and increase spending.’
Reuters: reut.rs/2s8ss7m

Economy and Business 💰
Traders body urges DIPP to include private labelling in e-comm
– The earlier ‘clarification’ by the ministry said that Ecomm players could continue private labels
– While e-comm players say this constitutes only a fraction of their sales, the Trader’s body feels this loophole will be exploited
– In a sudden move to protect small traders, the govt, earlier this month, banned e-comm players from holding equity stake in a reseller, ‘exclusives’ or keeping inventories from Feb 1
BloombergQuint: http://bit.ly/2RbJ2lz

Tech 🖥 📱
Marc Andreessen: Voice to be ‘titanically important’, VR to be 1000 times bigger than AR
– Feels that the consumption of voice based content will increase manifold
– Also while AR is exciting, it will work only in use cases where the places are inherently interesting
Techcrunch: https://tcrn.ch/2C3ESlD

Sport ⚽️
Chettri strikes 2 goals in India’s first Asian Cup victory since 1964

Op-Ed 📝
Opinion: Why 2018 Was the Best Year in Human History!
‘The world is going to hell’ as the author puts it, but it’s not necessarily true that things everywhere are bad. In fact, while journalism focuses on wars, violence and other issues (as it must), the other side of the story doesn’t really get coverage. So, ‘pause for a nanosecond to recognize that arguably the most important thing in the world now is not Trumpian bombast’
NYT: https://nyti.ms/2RwJ5YB

🗣Interesting: Clean sweep: How does Mysuru bag the cleanest-city tag year after year?
While keeping our cities clean seems more daunting than ever, Mysore shows us that it’s not rocket science. While technology and innovation can help, what’s needed most is ‘a strong sense of ownership amongst citizens’
Hindu: http://bit.ly/2C7hgwr

Klips for 8th Jan

National 🇮🇳
Cabinet clears 10% quota for economically backward upper castes
– The move is likely to be struck down if contested in courts as it exceeds the 50% overall reservation limit
– However what’s important is the timing of the move before elections, with the move largely seen as a way to please the upper castes
– The eligibility criteria is: Salary <8L/yr and land below 5 acres/house less than 1000sq ft
Hindu: http://bit.ly/2RcjKUy

CBI case: SC to announce verdict today in Alok Verma’s removal case
– The CBI Director’s powers were ‘divested’ overnight on Oct 23 ‘18
– Interestingly the case comes to an end just as Alok Verma nears retirement (he retires this month)
– The judgement will be passed by a 3 member bench comprising CJI Ranjan Gogoi
Hindu: http://bit.ly/2ReYNsh

7 Airbus A320neos grounded by Go Air
– This comes after a Kolkata bound flight had to return to Chennai facing engine glitches followed by ‘loud bang and sparks’
– Both Indigo and GoAir have been unable to resolve issues with the aircraft’s safety
– In such situations the govt (through DGCA) can intervene and ground the entire fleet
BloombergQuint: http://bit.ly/2RipYCj

Economy and Business 💰
Bandhan Bank to buy Gruh Finance
– Markets reacted negatively to the development as there seems little value addition for Bandhan in this acquisition
– The deal has largely been done to meet RBI’s requirements of max 40% promoter holding
– Last year the RBI stopped Bandhan from opening new branches and froze the CEO’s salary
Reuters: https://reut.rs/2VzFuID

Tech 🖥 📱
Harley Davidson reveals more details about it electric vehicles push
– The LiveWire, which can do 0-60 mph in 3 seconds, is set to be one of the fastest production bikes
Techcrunch: https://tcrn.ch/2SHdCk3

Op-Ed 📝
Opinion: Borderline Insanity
As the US govt shutdown enters its 3rd week, Trump’s method of breaking something, then taking credit to fix it amounts to ‘Borderline Insanity’, quite literally in this case.
NYT: https://nyti.ms/2GY7pig

🗣Opinion: 5 reasons why the BJP’s upper-caste quota gambit could backfire
Across almost all editorials, the govt’s poorly thought out quota for ‘economically backwards’ upper castes is being called for what it is: an election tactic. However, the timing of it could instead backfire, as details out The Print
The Print: http://bit.ly/2QuEvFD

Klips for 9th Jan

National 🇮🇳
Lok Sabha passes quota bill in almost unanimous vote
– 323 members voted for the bill, only 3 opposed it

SC reinstates Alok Verma as CBI Chief, with conditions
– Bars him from taking any new policy decisions in remaining 3 weeks of his term
– While the opposition said the SC verdict was a ‘lesson for the govt’, Jaitley, on behalf of the govt, said the decision to divest powers was taken in ‘public interest’
Livemint: http://bit.ly/2SIuYwR

Economy and Business 💰
RBI sets up panel under Nilekani to push digital payments
– The 5 member panel is tasked with finding ways to ‘encourage digitisation of payments and enhance financial inclusion through digitisation’
– The panel will submit its report in 90 days
Reuters: https://reut.rs/2sgCZ0d

Classify loans to IL&FS as NPA if overdue by 90 days: RBI to banks
– In effect RBI has denied banks permission to classify the loans differently from other debt
– This will lead to a jump in the overall NPAs
BQ: http://bit.ly/2AzZXnE

Monsanto wins case to claim patents for GM Cotton
– The SC overturned the Delhi HC’s earlier verdict
– The ruling is largely seen as a positive as this will allow Monsanto and other bio tech firms to bring in new technology
– India is the largest producer of cotton, 90% of which is GM cotton
Reuters: https://reut.rs/2VFNYxE

Tech 🖥 📱
Hyundai showcases a concept car that can walk at CES 2019
– Called the Hyundai Elevate, the ‘car’ has ‘reptilian’ and ‘mammalian’ walking modes and can also move sideways
– CES is the biggest tech show of the year where companies showcase cutting edge tech and latest launches
BQ: http://bit.ly/2SKFun5
(Do check the video)

Sport ⚽️
Cricket: India records first test series victory in Australian soil in 71 years

Op-Ed 📝
Opinion: WeWork and SoftBank Live in Their Own World
SoftBank had to cut back on its ‘reported’ $16bn investment in WeWork to $2bn. While others have expressed concerns over WeWork, Son and Neumann seem to be happy to push up its valuation to a figure of their choice, literally. WeWork is creating a lot of waves, but those are artificial, writes Shira Ovide for Bloomberg. A bit winding (probably for effect), but worth a read
Bloomberg: https://bloom.bg/2SJpJgj

Opinion: Two Women Enter a Temple. A Country Erupts
While opinions have been dime a dozen on the Sabarimala issue, with neither more right or wrong than the other, it’s good to look at the issue for what it is, without bias. A balanced article that ends beautifully: India’s democracy is guaranteed by its constitutional morality, and vice versa
NYT: https://nyti.ms/2AzxpuA

Klips for 10th Jan

Global 🌍
UK Parliament demands plan-B incase Brexit vote does not go through
– MP’s voted 308-297 in favour of a plan B to be drawn up in 3 working days rather than 21
– The Brexit plan will be put to vote on Jan 15th
Reuters: https://reut.rs/2VHMmDD

National 🇮🇳
Quota bill passed in both Houses of Parliament

Budget session of Parliament from 31st Jan to 13th Feb
– Interim budget to be presented by Jaitley in 1st Feb
– Being an election year, only an interim budget is tabled and new policy measures are not announced
Livemint: http://bit.ly/2QBGND1

Economy and Business 💰
Yes Bank says it has finalised names for CEO position
– However the bank did not reveal the names and said they will be sent to RBI for approval first
– The RBI has earlier denied an extension to Founder Chairman Rana Kapoor, whose term effectively will end on 31st Jan
Reuters: https://reut.rs/2QzHwou

CAG questions govt on ‘off-budget’ financing
– This was part of a report on compliance filed with the Fiscal Responsibility and Budget Management Act tabled in Parliament
– Some of the areas highlighted were: spending on fertiliser arrears through banking arrangements, food subsidy bills to FCI through borrowings by NABARD
– While these measures are not new, what is needed to be understood is that if these off budget transactions are factored in, the debt to GDP ratio changes significantly, which is a concern
Details: http://bit.ly/2QAUYYX (BQ)

Tech 🖥 📱
Jeff Bezos to divorce wife MacKenzie after a 25 yr relationship
Bloomberg: https://bloom.bg/2VDITWO

Op-Ed 📝
Judicial invasion and Status Quo: On recent SC judgements
While the SC ruled in favor of Alok Verma in the recent ‘CBI vs CBI case’ what is puzzling then is why it took so long and moreover why it added an ambiguous caveat. Many of the SC’s recent rulings have followed this trend. The author says that in high profile cases the SC must ensure two things: that the judgement is timely and that it is clear
Hindu: http://bit.ly/2VIYMvk

🗣We need good reporting now more than ever. Democracy depends on it
In the lead up to the WEF meetings in Davos, Reuter’s Editor-in-Chief puts into words why good reporting is critical, now more than ever. With the proliferation of fake news and govts curtailing information flow, true journalism is what democracies need. Well written and worth a glance.
The Print: http://bit.ly/2QzF4hI
Originally published on World Economic Forum’s site

Klips for 11th Jan

National 🇮🇳
CBI Director removed a day after being reinstated
– Alok Verma was removed by a panel comprising the PM, opposition leader Kharge and CJI appointee Justice Sikri
– The vote was 2-1 with Kharge voting against removal
– The CBI Director’s role is a fixed 2 year term and this is a rare case when the Director hasn’t been able to complete his term
Livemint: http://bit.ly/2FgPVM8

Rahul Gandhi rebuked for ‘misogynistic’ remarks against Defence Minister
– Gandhi had said about Modi: ‘He runs away from the people’s court and asks a woman, Nirmala Sitharaman ji, ‘defend me, I won’t be able to defend myself’”
– Social media and the National Commission for Women took offence to these remarks
Reuters: https://reut.rs/2M0ohU8

Ayodhya case: SC forms Constitution bench, Justice Lalit recuses himself
– The court also asked for proper translations of all documents by 25th Jan
– Formation of a Constitution Bench indicates the matter is no longer seen by the SC as a civil land disputes case
Livemint: http://bit.ly/2FoxhRM

Economy and Business 💰
Govt offers tax sops to small traders under GST
– Jaitley in a press address said that small businesses with annual sales less than ₹40L will be exempt from paying taxes under GST
– The earlier exemption was ₹20L
Reuters: https://reut.rs/2QzUPoU

Tech 🖥 📱
Zerodha becomes largest broker, replaces ICICI Securities
– Zerodha had 8.47L investors in comparison to 8.44L for ICICI Sec in December
BloombergQuint: http://bit.ly/2Fl2K8o

Op-Ed 📝
Interesting: How to Make a 56,823% Return With Hong Kong’s Worst Ever IPO
Xiaomi’s IPO on the HK stock exchange was the worst listing of all time. The stock has lost 30% in 6 months since listing. But that’s not the whole story. Initial investors who are now dumping the stock have made some unreal profits.
Bloomberg: https://bloom.bg/2FoKk5N

Opinion: Mass Messaging – On Citizenship (Amendment) Bill
In order to push through the Citizenship Bill and enforce it on Assam, the BJP is having to play appeasement cards for the Assamese: the state will soon become a ‘Tribal state’ with majority of the seats reserved for ‘Tribals’. While garnering votes from Assam is important, this mass messaging is being done with ‘little thought to the ethnic and communal fault lines it is aiding’, writes The Hindu.
Hindu: http://bit.ly/2FoO7jx

Opinion: You Should Meditate Every Day
No, this is not a ‘gyaan’ article that tries to talk about the many benefits of meditation, but a practical account by the writer on why you must do it. Start small, but start. Else the countless distractions are at work anyway. Worth reading and most definitely worth consciously practising.
NYT: https://nyti.ms/2Fma2Zw

Klips for 12th Jan

Global 🌍
Changes in H1B Visas, potential path to citizenship: Trump tweets
– The ambiguous tweet talks of a decision already taken in Dec ‘18 and is nothing new
– Yet it’s timing, with the current govt shutdown, and Trump’s hard stance against illegal immigration, has left reporters and experts puzzled
– The proposal was meant to increase the number of H1B visas by 16% or 5340
Reuters: https://reut.rs/2sldDym

National 🇮🇳
Justice Bedi report: Youth out to ‘kill Modi’ died in fake encounter
– The report was brought in public domain by CJI Gogoi against the protests of the Gujarat government, and was with the courts since Feb 2018
– 17 cases were investigated (from 2002-2006), of which 3 have been recommended for further trials
– The timing of the report, nearly 12-16 years after the incidents, is curious
Hindu: https://www.thehindu.com/news/national/youth-out-to-kill-modi-died-in-fake-encounter-report/article25974444.ece

Economy and Business 💰
Factory output growth at 17 month low of 0.5% in Nov
– The figure is below estimates despite factoring in base effect and fewer working days due to festivities
– ‘A slowdown in NBFC lending could have led to lower automobile production, impacting the overall numbers’, Yes Bank
BQ: https://www.bloombergquint.com/business/iip-growth-slides-to-17-month-low-in-november-2018

Infosys announces ₹8260 share buyback at 17% premium, special dividend
– This is inline with the company’s policy of returning upto 70% of free cashflows to investors
– It completed its first buyback worth ₹13000cr in Dec ‘17
BQ: https://www.bloombergquint.com/markets/q3-results-infosys-announces-rs-10000-crore-buyback-special-dividend

NSE Chairman quits citing ‘recent legal developments’
– Ashok Chawla has been charged of corruption by the CBI
– He also recently resigned asYes Bank’s non-executive independent director
Reuters: https://reut.rs/2VL49tS

Banker turned politician Meera Sanyal passes away
– She was aged 57

Sport ⚽️
Pandya, Rahul suspended by BCCI for comments made on Kofee with Karan

Op-Ed 📝
🗣Opinion: Modi’s move for 2019 – Kamandal plus reverse Mandal
Barkha Dutt has taken to independent media since her infamous exit from NDTV. In this new format called ‘New ka Juice’ she tries to summarise political happenings of the week and bring forth the unsaid. Opinionated, yes, but it’s an interesting format of journalism worth checking out.
The Print: https://theprint.in/opinion/modis-move-for-2019-kamandal-plus-reverse-mandal/176664/

Opinion: Netflix Chose a New Market Over Free Speech. That Sets a Disturbing Precedent.
Netflix is free from local government censorship or so it would seem. In this case it took down a stand up comedy episode that blamed the Saudi Prince for killing Jamal Khashoggi. Clearly for Netflix the law of the land prevails. But the author feels that by failing ‘to defend everyone’s right to laugh at the powerful and their lies’, Netflix has set a dangerous precedent. Worth a scan.
NYT: https://www.nytimes.com/2019/01/11/opinion/netflix-saudi-arabia-minhaj.html

Klips for 14th Jan

Global 🌍
🗣US rules out further waivers to Iran oil sanctions
– Brian Hook, US special representative for Iran, told reporters that the sanctions have been effective
– The US wants nations to cut down on Iran oil imports, which forms a major part of state revenues, alleging Iran uses this money for state-sponsored terrorism
– India and China were given a 6 month waiver from the sanctions in Nov ‘18
Business Standard: http://bit.ly/2M6RQDD

National 🇮🇳
Rajkumar Hirani accused of sexual assault in #MeToo allegation
– The accusation comes from ‘an assistant’ on the sets of the movie Sanju, which was released last year
– Hirani, a popular director, has made several hit films starting with Munnabhai MBBS to PK, that tend to carry a social message
BQ: https://www.bloombergquint.com/law-and-policy/rajkumar-hirani-accused-of-sexual-assault-filmmaker-denies

Economy and Business 💰
Right to Disconnect: Private Bill introduced in House for Work Life balance
– The Bill was introduced by Supriya Sule and is meant to allow employees to go offline after work hours
– While such a privilege is a commonality in Europe, the Bill has triggered an ‘interesting debates’ in India
– In a recent UBS report it was found that people in Mumbai work for 3314 hours a year, the highest globally
BQ: https://www.bloombergquint.com/law-and-policy/right-to-disconnect-a-bill-that-wants-you-to-go-offline-after-work

Samsung to launch an India-first mobile phone
– The budget smartphone line will be launched in India first before a global launch
– This is meant to counter Xiaomi that has become the no 1 phone manufacturer in India
Reuters: https://reut.rs/2VPSOZm

Sport ⚽️
Tennis: Australian Open gets underway today in Melbourne

Op-Ed 📝
Opinion: Sharing and not caring – On BSP-SP alliance
Predictably, the BSP and SP got into a pre poll alliance in UP. What was not expected was the way Congress has been sidelined in the state with the parties leaving Congress 4 seats to contest unchallenged. It’s said that to make friends you need to make enemies first, and the article continues on this line of thought.
Hindu: https://www.thehindu.com/opinion/editorial/sharing-and-not-caring/article25986896.ece

🗣The tech world’s best CEO? Microsoft’s Nadella, hands down.
When Nadella took over as CEO in 2014, Microsoft was saddled with a $7.2bn Nokia acquisition, a stuttering Windows phone business and a future that didn’t look too bright. But the unassuming Nadella has delivered success time and again: be it the phasing out of the Windows Phone, the move to cloud or the success of the Surface. When you look at things objectively, he is better than any of the other tech CEOs and the stock prices shows it too.
ComputerWorld: http://bit.ly/2soWmnS

Klips for 15th Jan

National 🇮🇳
No more stamping of boarding passes at Mumbai’s T2
– Passengers can authenticate their boarding passes through QR scanners just prior to security checks
– This will help reduce CISF’s workload, improve their efficiency and allow them to focus on security
– This is the first airport to implement ‘no-stamping’ in India
BQ: http://bit.ly/2RMMQcv

Kanhaiya Kumar, 9 others arrested on sedition charges
– Kanhaiya was later released on bail
– The case pertains to the 2016 incident of JNU where slogans were chanted against Afzal Guru’s hanging
Reuters: https://reut.rs/2VQmXaZ

Economy and Business 💰
Retail inflation at 18 month low of 2.19%
– December inflation was at its lowest since June 2017
– This will give RBI’s MPC leeway to reduce interest rates in its Feb review
MPC: Monetary Policy Committee
Livemint: http://bit.ly/2Hdhqbq

Jet Airways stock jumps 16% on reports of Etihad stake increase
– CNBC and BTVI have reported that Etihad will raise its stake in the cash-strapped airline from 24% to 49%
– Also, Naresh Goyal will step down as Chairman as per the channels
BQ: http://bit.ly/2RMF2rh

Tech & Entertainment 🖥 📱
Sachin Bansal to invests ₹650cr in Ola
– According to company filings, Bansal has already invested ₹150cr
– This represents the largest personal investment by an Indian investor
Business Standard: http://bit.ly/2HbNMmJ

Game of Thrones brings out its Final season trailer
The trailer has garnered 12M views in 24hrs at last count.
YouTube: https://youtu.be/wA38GCX4Tb0

Op-Ed 📝
Interesting: Farm Loan Waivers and Corporate Defaulters are Two Sides of the Same Coin
Why is ₹1.84 lakh crore a frightening amount but not ₹10.17 lakh crore? In an interesting take on the farmer loan waiver, the author, in conversational style tries to understand why there is a brouhaha about them while the so called ‘NPA’s, which are many times greater don’t attract the same reaction, especially from bankers who helped create them. Worth a read.
The Wire: http://bit.ly/2RJ82jR

Opinion: What’s the Best Way to Dump Trump?
The narrative in the US is no longer if but how should Trump be asked ‘to go home’. While impeachment is something that is ‘doing the rounds’, an electoral equivalent of a thrashing in 2020 is what would work best as per the author. Strong, but something worth reading to understand the depth of dislike Americans feel about their President. (Do glance over the comments)
NYT: https://nyti.ms/2HdzJgr

Klips for 16th Jan

Global 🌍
May suffers landslide defeat in Brexit vote, no confidence vote today
– The Brexit deal was put to vote yesterday in the UK Parliament
– The margin of defeat was a massive 230 votes
Reuters: https://reut.rs/2MdunAF

Indra Nooyi being considered for World Bank chief’s role
– David Malpass, Tay Washburne are other names being considered by the White House
– Nooyi, a long standing PepsiCo CEO, recently left her role (Aug ‘18)
Reuters: https://reut.rs/2Mb2NUD

National 🇮🇳
CBI Director’s ouster: Kharge asks Modi to make CVC report public
– Alok Verma was shown the door after 2-1 vote against him
– The CVC report which formed the basis for the govt’s case against Verma was submitted to the SC in a ‘sealed envelope’
– Also calls ‘interim Director’s’ appointment illegal and asks for immediate meeting of Selection Committee
Hindu: http://bit.ly/2SZ9mMW

Modi ‘slams’ ruling and opposition parties in Kerala on Sabarimala issue
– Says ‘communist’s do not respect Indian history, culture and spirituality’
– Says his party has always been at the ‘forefront’, supporting the people of Kerala
Hindu: http://bit.ly/2ANneT4

Economy and Business 💰
Govt pumps ₹6084cr into MGNREGA days after announcing cash crunch
– The govt had recently said that it had completed its annual allocation of funds
– However, 90 civil society members and law makers wrote to the PM asking for more funds to be allocated to the flagship program
BQ: http://bit.ly/2SX4WGn

Tech 🖥 📱
Facebook to ‘invest’ $300mn to ‘help’ local news services
– Move aimed at countering criticism over its negative impact on news worldwide
Reuters: https://reut.rs/2M9UQ2c

Op-Ed 📝
Opinion: Theresa May’s Humbling Offers a Glimmer of Hope
The Brexit vote, in May’s own words tells what ‘Parliament doesn’t want, but not what alternative can garner a majority among lawmakers.’ The consequences of a no-deal are only to hard to accept, and so are the alternatives. Bloomberg tries to play them out even so.
Bloomberg: https://bloom.bg/2SVVt1Z

Opinion: Half Done – On the ban on plastic
The ban on plastic is now ‘live’ in 22 states and UTs. While this has had a positive impact in terms of reduction of plastic waste, it’s not enough. What’s needed is FMCG companies to be brought under the ban as they are the largest ‘producers’ of plastic. But to even think of doing this, the Govt agencies need some major rework both in terms of machinery and mindset, writes the Hindu
Hindu: http://bit.ly/2T4iIGU

Klips for 17th Jan

Global 🌍
May wins confidence vote after crushing defeat in Brexit deal
– Parliament voted 325-306 in her favour
– Says post the vote that MPs should now work together to find the solution
Reuters: https://reut.rs/2MdwfcI

National 🇮🇳
Netflix, Hotstar content will be censored: Reuters report
– A draft of the code that the two streaming services will need to sign is ready
– Amazon Prime, however, will not sign the code
– The action became necessary after objections were raised that ‘Sacred Games’ insulted former PM Rajiv Gandhi
Reuters: https://reut.rs/2Mdn7oC

Amit Shah admitted to AIIMS with swine flu
– The BJP President was admitted yesterday evening after complaining about breathlessness

ITR filing: govt clears Rs 4241cr project to revamp infrastructure, speed up refunds
– This is touted to ensure ITR filings happen ‘in one day’
– The project was won by Infosys and will take 18 months
Livemint: http://bit.ly/2svgTqU

Economy and Business 💰
Startups get Angel Tax ‘relief’, govt eases norms
– The startup seeking exemption needs to now apply to DIPP rather than the earlier ‘inter-ministerial board of certification’
– Also the requirement to submit a report from the merchant bank on ‘fair market value’ has been removed
– Various startup founders had got notices to pay tax on Angel funds at the rate of 30% (as this was treated as income)
BQ: http://bit.ly/2stJLjo

Tech 🖥 📱
Oyo’s pilot to track customers real-time draws privacy concerns
– The SofBank backed hotel room provider is planning to monitor guests and share this info real-time with law enforcement agencies and store it centrally
– This plan led to a backlash on social media
– Three state govts (as home affairs is a state subject) are already onboard Oyo’s plans
BQ: http://bit.ly/2Mexfxi

Sport ⚽️
Chess: D. Gukesh becomes India’s youngest grandmaster at 12
– He is the country’s 59 GM
Hindu: http://bit.ly/2sxSrW8

Op-Ed 📝
Opinion: Big Winners of the Shutdown – China and Russia
When you are the US you are looked up to both for your success and your failings. The recent govt shutdown is hurting the US in more important ways than seems obvious. Significantly, it represses a ‘contest of systems’ – liberal democracy vs capitalist authoritarianism. Interesting viewpoint.
Bloomberg: https://bloom.bg/2MjEZOI

Opinion: Showing the way – On Manipur’s anti-lynching law
Dealing with mob violence is a state subject and Manipur has broken new ground by forming a law on anti-lynching late last year. From holding public servants criminally responsible, if they fail to prevent these crimes, to clearly defining Duties of the State, this law is worth emulating, writes the author. Slightly longish but worth a quick scan
Hindu: http://bit.ly/2MlVz0t

Klips for 18th Jan

Global 🌍
Few world leaders to attend WEF’s annual conference in Davos this year
– Trump, May, Modi and Xi will all give the event a miss as they tackle issues back home
– While the networking opportunities for business leaders won’t diminish due to this, the event will lack the lustre it had last year, when for the first time a sitting US President attended
Reuters: https://reut.rs/2swviDj

Cohen: Rigged opinion polls at the direction of Trump
– Cohen, Trump’s former lawyer, is trying to come clean on poll rigging and hush money
– He has already been sentenced to 3 years in jail for these and also lying to Congress about a Trump Tower deal
Reuters: https://reut.rs/2MeO4Ip

Economy and Business 💰
Jio posts another quarterly profit, ARPU falls
– ARPU fell for a 5th straight quarter to ₹130
– On the other hand it added 1cr subscribers (Oct ‘18), indicating the push for Jio Phone
– Avg data consumption is 10.8GB, Voice consumption is 794 min per user per month and video is 460cr hours per month in total
BQ: http://bit.ly/2VVonBf

Etihad vs Goyal: Goyal says he is ready to infuse ₹700cr
– He said so to SBI Chairman Rajnish Kumar under the condition that his shareholding doesn’t fall below 25%
– As per SEBI norms the Takeover Clause gets triggered (open offer) once promoter stake falls below 25%
Livemint: http://bit.ly/2QTbrId

Vanguard’s Founder John Boyle passes away
– He was aged 89

Tech 🖥 📱
Zomato integrates with Paytm, allows users to order food through it
– This deal is meant to benefit Zomato to reach users in Tier 2, 3 cities where Paytm has a much stronger base
– Both companies share a common strategic investor: Alibaba
Livemint: http://bit.ly/2QU7piQ

Op-Ed 📝
Opinion: There is no ‘Israeli-Palestinian’ conflict
For time immemorial, we have been exposed to this term: ‘Israeli-Palestinian conflict’ to understand what is supposedly happening in the Middle East. It someone does not feel like the full picture, because it isn’t. In this brilliant article, the author says that to understand what’s the reality we need to look at it ‘zoomed out’ rather than ‘zooming in’ on a particular frame, as media and political leaders tend to do. Definitely worth a read
NYT: https://nyti.ms/2Mhbvkm

Opinion: Netflix’s Strategy Is Growth, So It Can’t Have Growing Pains
Netflix just announced its quarterly numbers, adding an impressive 8.84mn paying users, taking total paying users globally to 139mn. These numbers and metrics do not tell whether Netflix will do well. The ones that will are not declared (no. unsubscribed, avg viewing hours). Till such time, Netflix’s growth story is something ‘you either believe, or not’
Bloomberg: https://bloom.bg/2DiJxBX

Klips for 19th Jan

Global 🌍
2nd Trump-Kim summit likely in Feb
– In what was a historic moment, Trump first met Kim on June 12th in Singapore
– Little progress has been made on ‘denuclearisation’ since then
Reuters: https://reut.rs/2szH5Rx

National 🇮🇳
🗣IL&FS terminates contract to build landmark Zojila tunnel in JK
– IL&FS wrote to NHIDCL on Thursday that it was terminating the contract to build, operate and maintain the tunnel
– The ₹6809 cr tunnel was inaugurated by the PM June last year but work has stalled since the IL&FS crisis in Nov
The Print: https://theprint.in/governance/debt-ridden-ilfs-terminates-contract-to-build-indias-longest-tunnel-in-jk/179533/
NHIDCL: National Highways and Infrastructure Development Corporation Limited

Economy and Business 💰
Ambani reveals details on possible e-comm play
– Says: ‘Jio and Reliance Retail will launch a unique new commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat’
– Recently e-comm guidelines were changed which prevented foreign players from ownership in retailers, a move that benefits local players
– RIL already has 280mn users via their My Jio App and an e-comm play could be an extension
BQ: https://www.bloombergquint.com/business/asia-s-richest-man-outlines-his-plan-to-take-on-amazon-in-india

Tech 🖥 📱
Free to Play games dominate online gaming revenues at $88bn in 2018: report
– The traditional model of paying for games is no longer the trend
– Instead players do what are called ‘micro-transactions’ to level up
– Netflix has previously said that gaming is a much bigger threat to it than HBO (Banderwatch was essentially a ‘game’)
Techcrunch: https://techcrunch.com/2019/01/18/free-to-play-games-rule-the-entertainment-world-with-88-billion-in-revenue/

Sport ⚽️
India register away series win against Aus in ODIs as well
– India had previously won their first ever away test series Down Under

Op-Ed 📝
Interesting:Indians Have Donned The Running Gear And Fitness Brands Are Loving It
As Mumbai gears up for another Marathon, it’s worth taking a look at the impact it and other such events have had on India’s ‘sporting culture’ as well as the brands associated with it. Worth a quick scan.
BQ: https://www.bloombergquint.com/pursuits/indians-have-donned-the-running-gear-and-fitness-brands-are-loving-it
#The Mumbai Marathon take place tomorrow, 20th Jan

Opinion: Bollywood’s Accidental Politics
The timing of the release of ‘patriotic’ films and films with a political flavour is unmistakable. Coming just before the general elections these do feel like that common Hindi phrase: ‘mauke pe chauka’. But, by all of them coming out in theatres in near synchronous manner, they feel more like politics and propaganda than art and entertainment. A nice, balanced article from the Mint.
Livemint: https://www.livemint.com/Leisure/YEZuZzPJ6H30mwQMrAqxwK/Bollywoods-accidental-politics.html

Klips for 21st Jan

Global 🌍
‘Yellow Vest’ protests continue in France for 10th consecutive weekend
– Almost 84000 people took to streets to protest against Macron’s policies
– Originally a protest against fuel taxes, the protests now have a wider appeal as they are targeted at Macron’ policies
Reuters: https://reut.rs/2MmBczS

Trump offers Wall for DACA in govt re-opening negotiations
– The offer to relax immigration norms under DACA fell through as Democrats have demanded the govt be opened first before any discussion on the Wall
– The US govt is in a state of shutdown now for 29 days
Reuters: https://reut.rs/2MlkRvF
#DACA: Deferred Action for Childhood Arrivals

Economy and Business 💰
Voda-Idea seeks 2 year moratorium on Spectrum Payments
– The operator needs to pay ₹10000 cr as annual spectrum usage charges
– The reason given is high debt level
– The telecom industry has a total liability of ₹7.8 lakh cr
BQ: https://www.bloombergquint.com/business/voda-idea-seeks-2-yrs-extension-for-spectrum-payment-citing-high-debt

Tech 🖥 📱
Tesla gets permission to deliver Tesla Model 3 in Europe
– Europe represents a key market for Musk as tax discounts upto $ 3750 have ended in the US from Jan 1
Livemint: https://www.livemint.com/companies/news/tesla-gets-green-light-to-start-delivering-model-3-in-europe-1547961138479.html
#Livemint has freshened up its website’s Design. Do also take a look at their homepage. A most welcome move

Sport ⚽️
Federer knocked out of Australian Open by 20yr old Tistsipas
– Federer, 37, was aiming for a 3rd straight Australian Open crown

Op-Ed 📝
Interesting: Davos Billionaires Keep Getting Richer
The WEF’s Davos Summit gets underway this week and in what is the 10th anniversary of the 2008 global financial crisis, it’s worth looking back to see how the fortunes of the super rich have changed. A nice compilation. If nothing do take a look at the charts, and the % growth in wealth.
Bloomberg: https://bloom.bg/2DnN9T4

Opinion: The Story Behind a Story
In the run up to General Elections, media (including social) become hotbeds for propaganda and ‘juicy news’. In such times the reader tends to do one of two things: get completely alienated from ‘news’ or gets so involved that she is unable to decipher what is news and what isn’t. The Hindu will be bringing out one political story and also its Backstory up until the elections. While Klips will try and share some, it’s upto the reader to be a third kind of reader: one who understands what is a ‘story’ and what is news
Hindu: https://www.thehindu.com/opinion/Readers-Editor/the-story-behind-a-story/article26043835.ece

Klips for 22nd Jan ☔️
National 🇮🇳
Heavy rains lash Delhi, mercury dips
– Rains likely to continue till 26th Jan
– A positive effect is the reduction in pollution levels

Election Commission considers legal action against anti-EVM campaign
– A US based cyber expert has levelled damning allegation against EVM’s saying that the 2014 elections were rigged
– The allegations were made over a Skype call as he was attacked and stopped from attending the event organised by the Indian Journalist Association
– Gopinath Munde, who died in a car accident, has also been named and his death has been termed as murder
Hindu: http://bit.ly/2AWLT85
🗣The original allegations can be found here (The Wire): http://bit.ly/2T5cbvR

Center proposes to hike pensions for elderly poor, disabled and widows
– The pension amount will be increased from ₹200 to ₹800 and for those above 80 from ₹500 to ₹1200
– This is likely to have an impact of ₹18000cr on the ex-chequer
– The move will be considered to be included in the interim budget to be announced on 1st Feb
Hindu: http://bit.ly/2T8XZlE

Mehul Chowki gives up Indian Citizenship, surrenders passport in Antigua
– This is seem as a way to avoid extradition to India
– Chowki is wanted for committing fraud amounting to ₹12000 cr
Livemint: http://bit.ly/2T6w1qB

Economy and Business 💰
IMF revises global growth rate to 3.5% from 3.7%
– Gita Gopinath, chief economist IMF, flags fiscal slippage risk for India
– Says GST revenues have been lower than expectations
– IMF has pegged India’s growth rate at 7.5% in ‘19 and 7.9% in ‘20
BQ: http://bit.ly/2T5atdV

China’s growth slows to a 28 year low of 6.6% in 2018
– While cooling of growth rates is a sign of a more developed economy, many global organisations are feeling the pinch and terming it as a slowdown (likes of Apple)
– A major concern however is the impact of US-China trade relationships and the lack of a trade deal
Livemint: http://bit.ly/2AZPnqh

Op-Ed 📝
🗣Opinion: India’s Bankruptcy Code Had Teeth. Now It’s Got Dentures.
India’s IBC code was meant to help resolve bankruptcy cases in a maximum of 9 months. However it’s hallmark case, the sale of Ruias owned Essar Steel, is a classic example of how the rich wield their power and play every trick in the book to subvert rules. While the small businesses have to fall in line (and this is what creditors wanted), it’s the big fish that always seem to get away, aided by creditors themselves. Nice read
BQ: http://bit.ly/2AVd4jC

Klips for 23rd Jan

Global 🌍
Oscar nominations throw up interesting all time firsts
– ‘Black Panther’ becomes the first action film to get a nomination for best film, while ‘Roma’ marks Netflix’s entry into the Oscar’s best film category nominations
– ‘Roma’ and ‘The Favourite’ both have 10 nominations each
– The Awards night is on the 24th of Feb
Reuters: https://reut.rs/2sIk3b7
The nominations: https://oscar.go.com/nominees

National 🇮🇳
Engine trouble continues for GoAir, Indigo
– In the latest incident on Monday, an Indigo flight had to return to Lucknow after the pilot observed high levels of vibrations on one of the engines
– The P&W engines have now logged more than a million hours of service
– The manufacturer is still trying to fix glitches, while the A320neos continue to operate
Livemint: http://bit.ly/2AVJJWc

Economy and Business 💰
Air passenger traffic growth at 16 month
– This comes on the back of high ATF prices leading to increased fares
– Passenger growth fell to 12%, the lowest since 2015, despite it being the holiday season
– India is the world’s fastest growing aviation market
BQ: http://bit.ly/2T6uVuN

Tech 🖥 📱
Google considering pulling out its Google News service from Europe
– Regulators in Europe are working on a copyright law that would require platforms like Google and FB to pay publishers when ‘news fragments’ show up in search results
– While Google says it doesn’t make money from the news offering, it does drive significant traffic to its search business
Bloomberg: https://bloom.bg/2B8rZHp

Sport ⚽️
Virat Kohli wins top 3 ICC awards
– Kohli won the awards for best cricketer in both tests and ODIs as well as the overall best cricketer award
– He was also named the captain of the test and ODI teams of the year
Reuters: https://reut.rs/2sIfmxL

Australian Open(AO): Nadal, Djokovic, Serena enter semis
– Nadal to face 20yr old Tsitsipas who defeated Federer
#Klips will include AO updates till the finals

Op-Ed 📝
🗣Opinion: Bezos Vs. Ambani: The Billionaire Bout That Had to Happen
The World’s richest man vs India’s richest man – the script is almost like a movie. And while the earlier bout for India’s e-tail market between Flipkart and Amazon is still not settled, the prospect of Bezos vs Ambani, the American vs the homegrown billionaire has all the makings of an exciting ‘contest’. Mukesh Ambani gave but a hint of his intentions last week, but the last time he gave such hints he more than lived up to the expectations (Jio). Can he do it again? Andy Mukherjee pens down his thoughts.
Bloomberg: https://bloom.bg/2TfGFuY

🗣Opinion: We should take humour in the workplace more seriously
Everyone appreciates humor as long as it’s well intentioned. And as the CFO of AT Kearney writes, a bit of humor at the workplace makes good business sense too. A nice read
The Print: http://bit.ly/2T3CUc6

Klips for 24th Jan

Global 🌍
National 🇮🇳 | Piyush Goyal named interim FM
– He will also present the Budget on 1st Feb
– Arun Jaitley is expected to undergo surgery at this time and hence the change
Reuters: https://reut.rs/2RcjaS5

Railways announces massive recruitment drive for 2.3L posts
– 10% posts will be reserved for economically backward, as per the recent legislation
Hindu: http://bit.ly/2T5nVP2

🗣Ministry notifies new CRZ norms
– The move is beneficial for builders as this opens up areas that previously had strict norms against it
– There remains a risk of high tides which has not been factored for as per an expert
Hindu: http://bit.ly/2AYz0uc

Tech 🖥 📱| Microsoft Edge on mobile now has a built-in fake news detector
– The browser has a built-in plugin called NewsGuard that relies on humans rather than algorithms alone
Techcrunch: https://tcrn.ch/2AZKttc

Sequoia announces early stage accelerator ‘Surge’ in India
Details: https://tcrn.ch/2T8Al8B

Sport ⚽️ | AO: Karolina Pliskova stuns Serena to enter semi-finals

Op-Ed 📝
🗣Opinion: The hard power imperative
India needs to focus on developing hard power and this can de developed over a period of several decades. India’s R&D spending on defence is abysmal and this needs to change fast. What India really needs is its own real ‘Garud’s (those who have watched Uri will relate)
Hindu: http://bit.ly/2TbZBe8

Klips for 25th Jan

National 🇮🇳 | CBI files case against Chanda Kochhar, husband
– A case of fraud and criminal conspiracy has been lodged against the former ICICI CEO
– Kochhar was initially given a clean chit by her board, but later stepped down in Oct ‘18
Reuters: https://reut.rs/2sJnQoo

Tata to bid adieu to Nano in Apr 2020
– New BS VI norms are set to kick in from next year and the Tata’s have no plans to upgrade Nano’s engine
– Nano was launched in 2009 at a price of ₹1L
BQ: http://bit.ly/2CHLm9V

No extension in TRAI’s DTH new tariff order
– The new order is to come into effect from 1st Feb
– Only 40% of subscribers have opted for new plans
Hindu: http://bit.ly/2RQs3pm

NDA likely to fall short of majority: Opinion polls
– The alliance is likely to win 233 seats ABP News C-Voter poll
– The poll also forecasted Congress getting 167 seats
Reuters: https://reut.rs/2Whl6Mx

Economy and Business 💰 | Ravneet Gill named as Yes Bank CEO
– He replaces Founder CEO Rana Kapoor who was denied an extension by RBI
BQ: http://bit.ly/2ROoikn

Sport ⚽️ | AO: Nadal enters finals

Op-Ed 📝
🗣Opinion: Checks and Balances
India is a Union of States and not a Federation. A prime reason for this is so as to ensure the Center does exercise some control over the States. At the same time the states do have a voice in the Rajya Sabha ensuring Central govts can’t steamroll legislation. This fine balance and interplay becomes even more relevant in today’s scenario writes The Hindu.
Hindu: http://bit.ly/2CGuHni

Interesting: The Uncertain Future of Particle Physics
It’s been more than 10 years since the Larger Hadron Collider (LHC) started collecting data (2008) by blasting particles against each other in a 16-mile tunnel. What has been the outcome? And is it worth the money spent? The author, a particle physicist shares his views. Worth a quick scan
NYT: https://nyti.ms/2AYrorF

Klips for 28th Jan

Global 🌍 | Death toll in Brazil dam burst rises to 58
– 300 people are reported missing
Reuters: https://reut.rs/2MypVww

US govt agencies gear up to restart work today
– Trump was forced to sign a measure with Congress that would keep govt agencies funded for 3 weeks
– The demand for the $5.6bn ‘Wall’ was not met
– Almost 800000 workers hadn’t been paid salaries for 5 weeks
Reuters: https://reut.rs/2Re0iSB

National 🇮🇳 | CBI officer who filed FIR against Kochhar transferred on suspicion ‘he might leak information’
– On leave FM Arun Jaitley has called the CBI’s move investigative adventurism
– The officer, Sudhanshu Dhar Mishra, has been transferred to Ranchi, Jharkhand
Hindu: http://bit.ly/2RRGCsQ

Ayodhya case hearing adjourned again
– The hearing was scheduled for the 29th of Jan but one of the judges is unavailable on that date
BQ: http://bit.ly/2HDcqNo

PM promises affordable healthcare for all in TN
– He was inaugurating a new AIIMS at Madurai
– Said that 1.5cr people in TN are eligible for the scheme
Livemint: http://bit.ly/2HBndYu

Sport ⚽️ | AO: Djokovic cruises past Nadal to win 7th Australian Open title, Osaka wins Women’s title

Op-Ed 📝 | Trump Loses on Wall and Declares Victory
Trump’s antics are no less than like a child that wants a new toy: highly unpredictable. While his recent defeat means that normal service can resume, with Trump there is no normal. As someone rightly has said: ‘The Presidency is no place for amateurs’
Bloomberg: https://bloom.bg/2RRrRWV

Opinion: For Honour’s sake – On the Bharat Ratna award
The highest civilian award is one that carries a certain prestige with it, not something that everyone deserves, unless truly exceptional in their field. Subsequent Governments have made it a political matter. Pranab Mukherjee’s being conferred with it has raised eyebrows, writes the Hindu editorial
Hindu: http://bit.ly/2RTsRtJ

Klips for 29th Jan

Global 🌍 | Kamala Harris launches US Presidential bid
– If successful, she would become the first lady President of America
Reuters: reut.rs/2RlcyAD

National 🇮🇳 | Congress promises minimum income for the poor if brought to power
– The BJP dismissed the move as an ‘unaffordable gimmick’
– The Congress said funds would be diverted from the food subsidy programmes
Reuters: reut.rs/2WxD0em

Economy and Business 💰 | 🗣 TRAI asks govt to sell off BharatNet assets
– Under the BharatNet mission over 300,000km of optic fibre has been laid across India connecting 116,000 gram panchayats
– TRAI feels this would be better served if auctioned off to a private player
Livemint: bit.ly/2WpsHca

FM asks PSBs to ease lending to MSMEs
– He made the suggestion to PSB bank heads at a meeting where RBI Governor Shaktikanta Das was also present
Hindu: bit.ly/2Us9y7J

Tech 🖥 📱 | Ireland Data watchdog questions FB’s move to integrate Instagram, FB and WhatsApp
– An NYT article reported that Zuckerberg plans on integrating the three apps’ messaging platform
– Previous such efforts in 2016 were squashed when a UK regulator raised concerns
Verge: bit.ly/2Wnrimx

Op-Ed 📝 | A TV Drama Spawned in India’s Financial Shadows
Few could have predicted that the IL&FS collapse could have a victim in the TV industry. What’s more interesting though is the possible suitors to Zee, from Amazon to Jio. A simply written article that explains how Zee’s collapse is based on that one most important thing in finance: trust
BQ: bit.ly/2UsW5MZ

Interesting: Why Are Young People Pretending to Love Work?
The new ‘in-thing’ about work is Hustle culture. In this brilliant (though long) the author hits the bullseye in terms of what’s wrong with this culture. Worth a read, even if you are presently hustling away.
NYT: nyti.ms/2Uqw6Wu

Klips for 30th Jan

Global 🌍
May instructed by parliament to amend Brexit deal, EU says ‘no’ to it
– Lawmakers asked May to remove the clause on the Irish border arrangement
– They also rejected a proposal to delay Brexit, ensuring the possibility of ‘no-Brexit’ was put to rest
– EU however has rejected the proposal to amend the deal
Reuters: https://reut.rs/2MHfA1j

Death toll in Brazilian dam tragedy rises to 84, with 276 missing

National 🇮🇳
Why no experts on RTI panel: SC asks government
– The matter relates to the panel for appointment of CIC
– The panel largely comprises of bureaucrats which is against the RTI Act’s stipulation of having members with varied experience
Hindu: http://bit.ly/2UlF7js

Economy and Business 💰
NCLT rejects Ruia’s settlement plan for Essar Steel
– The Ruia’s had offered to pay ₹54389 cr
– This order follows the SC’s directive which upheld the legality of IBC
BQ: http://bit.ly/2DJwjyx
NCLT: National Company Law Tribunal
IBC: Insolvency and Bankruptcy Code

SBI to own 15% of Jet Airways, Etihad 40%: reports
– This structure would come into place if the debt for equity swap plan is agreed upon
– Naresh Goyal’s stake is likely to come down to (or even below) 20%
Reuters: https://reut.rs/2Rp7gnC

Tech 🖥 📱
Uber India will remove errant drivers
– This comes as a part of changes to its driver policy
– What’s unclear though is why this was not the case already
BQ: http://bit.ly/2UsEQva

Op-Ed 📝
Interesting: Modi’s Marquee Schemes
In a nicely presented format, BQ takes a look at all the marquee schemes, with data shared by the govt, that have been launched by the PM. An excellent quick guide, incase you just want to know what the schemes are. Effectiveness of each though is debatable. Worth a look
BQ: http://bit.ly/2UsA8NX

Opinion: What Microsoft Can Teach Facebook About Playing Nice
Not long ago Microsoft was the bad boy for regulators (especially EU). However over the years Microsoft has taken efforts to get in their good books and it has served them well. There are lessons here for Google, Amazon and FB to learn, prime of which is: humility works better than hubris
Bloomberg: https://bloom.bg/2DGFDmL

Klips for 31st Jan

National 🇮🇳
Metro vital for city, but so is tree cover, Bombay HC
– The court pulled up the MMRCL as more than 50% of the transplanted trees (due to metro work) have died
– The court also directed the body to hire/buy equipment to scientifically transplant and geotag trees
Hindu: http://bit.ly/2CVqjkw
MMRCL: Mumbai Metro Rail Corporation Limited

Members of National Statistics Commission quit over delay in releasing jobs data
– The acting Chairman and a member of the panel quit citing delays as well as alleging interference from state agencies in backdated GDP data
– Jobs data has not been published for the month of Dec
– The Commission now has 5 vacant posts
Reuters: https://reut.rs/2MEQBvH

Economy and Business 💰
Srikrishna commission deems Kochhar violated ICICI’s code of conduct
– The bank has ‘terminated’ her employment
– Kochhar said she was ‘utterly disappointed, hurt and shocked’ by the decision
BQ: http://bit.ly/2CY6AQX

Qatar Investment Authority to invest $200mn in Bharti Airtel
– The stake sale was the 2nd such fund infusion in Airtel’s Africa entity
– Airtel has witnessed a turnaround in Africa, after being saddled with debt since acquisition
– The business which is now profitable has EBITDA margins of 37.1%
BQ: http://bit.ly/2RUNYMh

Tech 🖥 📱
Apple sued over FaceTime bug
– The bug allowed a caller (via FaceTime) to listen in to a conversation without the receiver answering the call
– While Apple has said it will release a fix this week, the only option users have is to disable the feature
– Apple has remotely disabled the Group FaceTime feature on Monday
BQ: http://bit.ly/2Beb9GX

Op-Ed 📝
Opinion: Unwilling to face an Inconvenient Truth
The recent resignation of 2 members of the National Statistics commission points to statistics having been ‘relegated to to a political slugfest’. We seem more keen to ‘edit the past’ than focus on the future writes Livemint.
Livemint: http://bit.ly/2sXsKyo