July ’19

Week 2 Week 3 Week 4 Week 5

Klips for 1st July 🎾

World 🌎 | Trump – Kim Meet in North Korea
– Trump became the first US President to set foot in North Korea
– Both agreed to resume stalled talks on denuclearisation
Reuters: https://reut.rs/2xhOp6C

National 🇮🇳 | Delhi govt extends school break by another week citing ‘hot weather’
– Delhi recorded maximum of 42.2 deg C on Sunday, 5 degrees above normal
– The break is applicable for students upto class 8
Hindu: http://bit.ly/2XgxN9I

As monsoons underwhelm, Modi ask people to conserve water in first Mann Ki Baat of new term
– The PM said there was a need to create more awareness about water conservation, on the lines of ‘Swacch Bharat’ campaign
– However, no concrete measures were announced in the address
Reuters: https://reut.rs/2xvomJn

Economy & Business 💰 | BoB buys loans worth ₹3000cr from DHFL to ‘reduce exposure’
– The bank had an exposure of ₹6200cr to DHFL, this will help reduce it
– The justification given is that these loans are ‘higher rated’ and this will ‘improve’ BoBs loanbook
Livemint: http://bit.ly/2J13WOM

Deutsche Bank plans to cut 20000 jobs in overhaul
– This follows the failed merger with Commerzbank in April
Bloomberg: https://bloom.bg/2J0NkXB

Sport ⚽️ | Wimbledon 2019 gets underway from today

India suffer 1st defeat in WC, lose to Eng by 31 runs

🗣Interesting: Indian Startups raise record $3.9bn so far in 2019
– This represents a 44% jump from the same period last year
– However the number of deals has remained more or less the same
Livemint: http://bit.ly/2IXTtDE


Klips for 2nd July

World 🌎 | On anniversary of return to China, HK protestors thrash legislature
– Protestors ransacked the legislature building and police resorted to tear gas
– Earlier protestors rammed into the building’s glass compound doors with metal trolleys, which eventually gave way
Reuters: https://reut.rs/2xplIVe

National 🇮🇳 | Mumbai struggles as it gets battered by more than 540mm of rains in 2 days
– This is the highest recorded rainfall in a decade
– Waterlogging was reported across the city and train services affected
– City will continue to receive more rain between July 3 and 5, according to Skymet
Hindu: http://bit.ly/2NnZxcN

Economy & Business 💰 | OPEC extends oil cuts to increase oil prices
– The cuts have been extended to March 2020
– OPEC has been cutting production since 2017 to counter increased supply from the US
Reuters: https://reut.rs/2xlIVYB
#Organization of Petroleum Exporting Countries

Lenders look to restructure DHFL loans worth ₹38000
– An inter-creditor agreement will be signed post which DHFL has to submit a restructuring plan in 30 days
– This is as per RBI’s June 7 circular, else DHFL could have been taken to NCLT as per the Insolvency and Bankruptcy Code and its debt would be classified as NPA
Livemint: http://bit.ly/2NAIrZE
#NCLT: National Company Law Tribunal

ICRA’s CEO sent on leave amidst anonymous complaint of lapses
– The matter relates to assigning a high rating of AAA to IL&FS
– The complaint was made to SEBI and subsequently forwarded to ICRA
Livemint: http://bit.ly/323ZlTp

Passenger vehicle sales continue to decline in June
– Initial estimates show sales are down 16% for June
– For 2 wheelers the decline is around 11% y-o-y
– This numbers represent factory dispatches from automakers to showrooms, as they try and reduce inventory
Livemint: http://bit.ly/2NAKahA

2 yrs after introduction, GST struggles to cross 1L cr again
– The collections for June were ₹99,936 cr
– The shortfall is due to tax cuts introduced before elections (both Lok Sabha and State elections for Gujarat last year)
BQ: http://bit.ly/322TfCG

Tech 📱 | Sleep focussed startup Calm raises $27mn
– The meditation app is now focusing on Sleep Stories and has 2mn paid subscribers and a valuation of $1bn
Techcrunch: https://tcrn.ch/325R2Xp

Opinion: Imitation Registry – On Nagaland NRC
– Nagaland is set to follow Assam’s rather faulty method of NRC, and implement it in barely 5 months
Hindu: http://bit.ly/2Ntl1Fk


Klips for 3rd July

World 🌎 | EU leaders choose Lagrade as new head of ECB
– The decision must now be approved by the European Parliament
– Lagrade is presently the IMF chief
Reuters: https://reut.rs/2xnDbxd
ECB: European Central Bank

National 🇮🇳 | 30 killed as rains continue to batter Mumbai
– In one incident a wall collapse in Malad on slums killed 21 people
– Schools remained closed while a few firms asked employees to work from home
– A SpiceJet plane overshot the runway leading to flight diversions
Reuters: https://reut.rs/2RQIBu5

Curb on highways for Amarnath Yatra angers residents
– No civilian vehicles will be allowed to move along a 100km stretch other than those belonging to pilgrims for a 6 week period
– Local civilian traffic will only be allowed for a 3 and a half hour periods everyday
Reuters: https://reut.rs/2LF7CHV

Economy & Business 💰 | Wilful defaults rise to ₹1.5 trillion in 2018-19
– State Bank of India has about 1/3rd of these at ₹46,156cr
Livemint: http://bit.ly/30djJ2R

Tech 📱 | Ola Electric gets $250mn fundraise from SoftBank
– The electric arm by itself now has a $1bn unicorn status
– This also marks a shift away from Ola’s frosty relationship with SoftBank
Livemint: http://bit.ly/2XMrmj3

Interesting: The Latte Everyone Will Instagram This Summer
Bloomberg: https://bloom.bg/30aCHqN

🗣Interesting: New rule means electric cars must make noise – EU
BBC: https://bbc.in/30858Wq

Opinion: It’s No Fun at Deutsche Bank
Bloomberg: https://bloom.bg/2XI85zk


Klips for 4th July

National 🇮🇳 | Rahul Gandhi formally resigns as Congress President
– The formal decision comes weeks after he made his intent clear not to continue after the election defeat
Reuters:https://reut.rs/2S0onhT

Economy & Business 💰 | Media baron Vineet Jain faces shareholder backlash over buyback
– The matter relates to share buyback of BNL which has a majority stake in Bennet Coleman group that publishes TOI
– The buyback price offered is just above book value instead of fair value
Reuters: https://reut.rs/2xuGkvu

🗣India services index falls for first time in 13 months
– The PMI declined to 49.6 last month
Print: http://bit.ly/2Yxjsar

Sport ⚽️ | Eng beat NZ to enter Semis, gives Pak an outside chance

Opinion: Mumbai Marooned
Hindu: http://bit.ly/2FR0m85

Interesting: Terminal Tourism – Airports Open Up to Terminal Tourists Who Just Want to Hang Out
Bloomberg: https://bloom.bg/2YvUEjb


Klips for 5th July 💼

Economy & Business 💰 | Union budget to be presented today at 11am

Economic Survey: Growth rate to ‘edge up’ to 7% this year
– The survey said that growth rate has bottomed out and can only go up from here
– The survey also said that India is likely to become a $5 trillion economy by 2024-25, the reasoning for which experts doubted
Reuters: https://reut.rs/2LFRoyd

DHFL looking for fresh fund worth ₹1500cr, every month
– Under the proposal DHFL will lend loan pools to banks which will help them meet their targets to lend to farmers and small businesses
– The stock has lost 87% of its value over the last year
Livemint: http://bit.ly/2XOITXV

🗣NCLAT order gives all clear for ArcelorMittal to bid for Essar
– The court said that ArcelorMittal’s eligibility ‘cannot be re-agitated again and again’
– Operational creditors will be treated on par with financial creditors
Livemint: http://bit.ly/2XM4H6q
#NCLAT: National Company Law Appellate Tribunal

World 🌎 | US drags India to WTO over increase in tariffs
– US has sought consultations with India under the WTO’s disputes and settlements framework
– India raised tariffs on 28 US exports after it ended GSP benefits
Livemint: http://bit.ly/306W2sO

Tech 📱 | On market debut, IndiaMart closes 34% higher
– IndiaMart is an online marketplace for businesses
BQ: http://bit.ly/30hlagL

Interesting: Indonesian president sued over congested capital’s air pollution
– What’s interesting is that pollution levels in Jakarta hover around 152 while those in Delhi are consistently above that, even now
– In winter they cross 300-400 in major areas
https://reut.rs/2FQVDDo

Opinion: If Masayoshi Son Won’t Invest in Japan, Why Should You?
– ‘How can a country that pioneered the Walkman and android robots fail to produce more valuable startups?’: It just has 2 unicorns
– A very interesting read on how investments work in Japan
Bloomberg: https://bloom.bg/2XOzcJ8

Interesting: An Airline That Doesn’t Want You to Fly. That’s New
– KLM’s new advert could be good for long term business
Bloomberg: https://bloom.bg/30lgbf5


Klips for 6th July

National 🇮🇳 | Monsoon reaches Delhi, likely to cover entire North India in 72 hours
– Rains brought respite with the average temperature coming down to 34 deg C
– Cloudy conditions will prevail in the capital with heavy showers in certain areas

SpiceJet plane blocking Mumbai airport runway moved
– The plane had skidded off the airport on Monday and got stuck in mud
– A team from Air India had to rescue the aircraft as it’s the only airline that has the technology and know how to do so
– 100s of planes were cancelled and several diverted from landing at the country’s 2nd biggest airport and world’s busiest runway
Reuters: https://reut.rs/2xuSeW7

Economy & Business 💰 | Budget: Import tariffs raised on 75 items, tax on super rich
– Duties on Gold, auto parts hiked
– Income above ₹2cr to ₹5cr to attract surcharge of 25% (from earlier 15%) and above ₹5cr surcharge will be 37% (from 25%)
Key highlights from the Budget:
Micro: http://bit.ly/2xDKGQJ Livemint
Macro: http://bit.ly/2FVVyy9 BQ
Boost to digital transactions, increase in fuel prices, push to FDI, cut in corporate taxes for smaller firms

🗣India’s FY20 fiscal deficit target more challenging to achieve – Moody’s analyst
– The budget has set a target of 3.3% for this fiscal year from the 3.4% proposed in the ‘interim budget’
– In the first two months the deficit was 52% of the full year target
Reuters:https://reut.rs/2xud9bJ

Sensex, Nifty fall on Budget proposal on increasing public shareholding
– The proposal is to increase public shareholding in listed firms to a minimum of 35% from 25%
– Investors were unimpressed and said the move was not well thought out
Reuters: https://reut.rs/2FU6fBr

Tech 📱 | Mozilla launches ad free subscription news service
– Users can get an ad free experience for $5 a month
Techcrunch: https://tcrn.ch/2XvZujS

Interesting:While Sri Lanka grows richer, India remains a lower-middle-income nation
– India now is the only country in the lower middle income category amongst BRICS
– The contrast is even more evident given all the talk of a $5 trillion economy
Scroll: http://bit.ly/2Js9XD4

Opinion: Could India Become a One-Party State?
– ‘In the world’s largest democracy parties are often structured around individuals or families. If they go, so does the party’
Bloomberg: https://bloom.bg/2XuEFp1


Klips for 8th July

National 🇮🇳 | Production of the Vande Bharat express at ICF comes to a stop
– This follows allegations by the Railway Board over departure from norms set by RDSO (Research Design and Standards Organisation)
– However, based on accounts by ICF staff, there is more to the issue than being reported
– The train has been successfully running for 6 months on the Delhi- Varanasi route
Hindu: http://bit.ly/2L6ntzG
ICF: Integrated Coach Factory

Economy & Business 💰 | PNB says it has uncovered another fraud, this time worth ₹3800cr
– The fraud was detected in Bhushan Power and Steel’s accounts
– More than a year back PNB was hit by a fraud case of ₹26000cr
Reuters: https://reut.rs/2LHoa1V

Deutsche Bank cuts 18000 jobs in $8.3bn overhaul
– This represents a fifth of the bank’s workforce
– The bank will also not pay dividends for 2019 and 20
– It will shut down its entire equities business in Asia and other geographies
Bloomberg: https://bloom.bg/2RY3dRi

Maruti cuts production for 5th month in a row
– Total production was down 16% while that for mini segment (Alto) was down 48%
Hindu: http://bit.ly/2S0VXnO

India’s first sovereign bond float planned for Oct
– The Finance Ministry plans to raise ₹4.42L cr via this route
– A low and ‘in-check’ fiscal deficit number is key for such a bond sale, apart from ratings by agencies
Livemint: http://bit.ly/2L8sjMC

Sport ⚽️ | USA beat Netherlands to win record 4 women’s football World Cup

🗣Interesting: While Paytm’s reach stagnates, Walmart’s PhonePe is fast catching up
Scroll: http://bit.ly/2S4UWej

Opinion: One Nation, Zero Election
– G Sampath takes a satirical stab at the One Nation – One Election debate
Hindu: http://bit.ly/2LaJj50


Klips for 9th July

World 🌎 | British Airways fined $229mn for breach of GDPR
– This represents about 1.5% of its 2017 revenues, the company said
– Personal data of 500,000 customers was compromised in June 2018, for a 15 day period
Livemint: http://bit.ly/2XS2SF4

National 🇮🇳 | Rajya Sabha passes Aadhaar and Other Laws (Amendment) Bill 2019
– This will allow voluntary use of KYC for banking or mobile connections
– The bill however doesn’t allow pvt companies to use Aadhaar for authentication
– The move will benefit companies like Paytm, given it has a Payment Bank license, but not other payment or investment companies and MFs, who also need to follow KYC norms
Livemint: http://bit.ly/2XPRyJL

Delhi-Lucknow Tejas Express to be handed over to private player to run
– The move has been widely opposed by Railway unions
– The pvt player will be chosen via an ‘open bidding process’
– The rationale given for choosing this lucrative route is that it is a ‘low congestion route’ and ‘connects important cities’
Livemint: http://bit.ly/30qeA7p

29 dead in Yamuna Expressway bus accident
– It’s reported that the driver slept at the wheel as the UPSRTC bus fell 40 feet into a drain
Hindu: http://bit.ly/2LGXZbu

Economy & Business 💰 | PNB shares fall 11.5% after Bhushan fraud reporting
– The fraud related to Bhushan Steel and Power’s accounts is worth ₹3800cr
– It’s also reported that more banks may be affected by this fraud
Reuters: https://reut.rs/2LHhCjz

NYC to Bengaluru: Deutsche Bank careers end with an envelope and a cab ride
Livemint: http://bit.ly/30q5ZSy

Interesting: Netflix Hopes ‘Stranger Things’ Can Be Its Billion-Dollar Franchise
– With surprising partnerships like the one with Microsoft, Netflix looks to enter the licensing and merchandising game that Disney masters
Bloomberg: https://bloom.bg/2LKEFdh

Opinion: The visible hand – On BJP’s position in the Karnataka political crisis
Hindu: http://bit.ly/2xEh5XC


Klips for 10th July

World 🌎 | Trump says India tariffs unacceptable, again
– ‘India has long had a field day putting Tariffs on American products. No longer acceptable!’, he tweeted
– Trade talks are said to take place later this week between the two countries
Reuters: https://reut.rs/2LN6zFF

Economy & Business 💰 | Indigo co-Founder alleges corporate governance violations, asks SEBI to intervene
– Gangwal said that the airline was being run like a ‘paan ki dukaan’
– Reports suggested in May that the two co-founders were at odds
Reuters: https://reut.rs/2xDZgrz

Pricing issues likely to prolong India’s 5G auction
– The TRAI has set a base price of ₹492cr per MHz ($70mn)
– In comparison, 5G spectrum was auctioned at $5mn and $18mn in Australia and South Korea respectively
– The COAI said the base price set by TRAI is too high
Livemint: http://bit.ly/2NIyuJr
#COAI: Cellular Operators Association of India

No targeting of FPIs, higher tax on all super rich: Govt
– The govt earlier had said that no such clarification was essential
– However after backlash from FPIs the govt has made it clear that it isn’t only ‘targeting’ FPIs but all super rich
Livemint: http://bit.ly/2NI99zt
FPI: Foreign Portfolio Investors

Sport ⚽️ | Rahul Dravid appointed head of National Cricket Academy
– He has been coach of India ‘A’ and under-19 teams since 2015

Interesting: How deep is the consumption slowdown? Bajaj Finance’s Sanjiv Bajaj gives hints
– He points out an interesting fact: TV sales are down despite the WC being on (although this can also be attributed to more people using phones to watch matches as well)
Livemint: http://bit.ly/2NFNcAW

Interesting: Production of the Volkswagen Beetle officially comes to an end
Techcrunch: https://tcrn.ch/2NZcAC7

🗣If It Moves, Tax It. That’s Desperate, India
– ‘The government is targeting foreign investors, high-earning employees and companies to plug its fiscal gap. Such overreach never ends well’ write Andy Mukherjee
Bloomberg: https://bloom.bg/32cMzlL


Klips for 11th July

National 🇮🇳 | US lawmakers pass bill removing country cap for Green Card
– The law, once approved by the Senate, will remove a 7% country cap on issuance of Green Cards for H-1B visa holders
– This will benefit Indian and Chinese citizens seeking permanent residency
Livemint: http://bit.ly/2JrdYZz

Railways will be able to offer 4L more tickets a day for Oct
– Power cars will be removed to accommodate extra passenger bogies
– This comes after a move from EOG (End on Generation) to HOG (Head on Generation) which taps into electric lines rather than a common generator van
– The move will also save the railways ₹6000cr in power bills annually
Livemint: http://bit.ly/2JrmlEA

BEST ridership jumps 30% after cut in fares
– However revenues generated from tickets were down 31%
– BEST implemented a new rate structure on Tuesday with minimum fares reduced to ₹5 and maximum to ₹20
Hindu: http://bit.ly/2JuqGqO

Economy & Business 💰 | Car sales down again in June, worst in almost 2 decades
– Sales were down 18.4% nearing a 20.3% drop in Q3 of 2000-01
– Every segment, including commercial vehicles, recorded double digit declines
Livemint: http://bit.ly/30psQNZ

BJP got 93% of all corporate donations between 2016-18 as per ADR report
– This amounts to ₹915cr from 1731 corporates
BQ: http://bit.ly/30npBXc
ADR: Association for Democratic Reforms

Indigo shares tank 19% intraday over feuding founders
– The stock recovered to down 11% in yesterday’s trade
– It’s down 5% in today’s trade as well
Indigo: http://bit.ly/30tNCMs

Tech 📱 | Fed Chief asks FB to halt Libra project
– ‘Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability’, Powell said
Reuters: https://reut.rs/2SbmKhd

Sport ⚽️ | NZ beat India by 18 runs, enter finals

Opinion: IndiGo Can’t Fly High With Fights in the Cockpit
– As always there’s more than meets the eye and this article throws some light on it
Bloomberg: https://bloom.bg/2JurHPE


Klips for 12th July

National 🇮🇳 | Water train to relieve drought hit Chennai
– The train will have 50 wagons each carrying 50000L of water
– Many schools have shut and offices are asking employees to work from home due to the drought like conditions
Reuters: https://reut.rs/2JvtdRz

Delhi gets nod for1650 low floor buses
– ‘No new buses could be procured in the last 10 yrs’, said Manish Sisodia, Dy CM Delhi
– A tender for 1000 electric buses will also be floated in August
Hindu: http://bit.ly/2XL4XP0

🗣Chandrayan-2’s moon soft-landing launch on July 15
– If successful, India will become only the 4th country after US, Russia and China to have completed a soft landing on Moon
Livemint: http://bit.ly/2XHLbUF

Economy & Business 💰 | India’s WC exit May have cost Star ₹15cr
– Star could have charged ₹25-30L per 10 sec for last minute ad slots which are currently sold for ₹15-17L
– Star is expected to make ₹1800cr from the entire event
Livemint: http://bit.ly/2XI41ev

Vistara to begin international operation from August
– It will fly from Mumbai and Delhi to Singapore from Aug 6, to begin with
Livemint: http://bit.ly/2Y3nbzq

Opinion: Picking out plastic – On recycling and Waste management
– The CPCB recently put 52 firms on notice including Amazon, Flipkart, Patanjali for ‘failing to take responsibility for their plastic waste’
Hindu: http://bit.ly/2XWPkbz

🗣Interesting: Points are given in tennis 15-30-40. Why 40?
Sports Stack Exchange: http://bit.ly/2XLTP4J


Klips for 13th July

National 🇮🇳 | 🗣4L people affected in Assam floods across 17 districts
Scroll: http://bit.ly/2XLiJkW

Economy & Business 💰 | AB InBev pulls out from Budweiser HK listing, cancelling year’s biggest IPO
– The company cited ‘current market conditions’ as the reason for backing out of a $9.8bn listing
– Investor demand was low for the stock which was priced at a multiple much higher than peers
Reuters: https://reut.rs/2JA4NXb

Govt aims to raise $47bn over 5yrs from stake sale in PSUs
– The list includes Coal India, ONGC, NMDC, GAIL, BHEL and more
– The govt is looking at bringing down its stakes to 40% in these PSUs
– The target is 3 times the amount achieved in the last 5 yrs
Reuters: https://reut.rs/2jCsNys

CPI inflation at 8 month high in June, IIP growth at 3.1%

SBI’s Anshula Kant appointed as World Bank MD and CFO
– Kant was the CFO at SBI and has 35 years of banking experience
– She has done her PG in Economics from Delhi School of Economics
BQ: http://bit.ly/2XL03BR

Tech 📱 | US FTC approved $5bn fine on FB
– The fine which needs to be finally approved by the Department of Justice was a settlement for ongoing privacy issues
– However it does not impose any serious restrictions on FB, nor significantly changes its approach to privacy
– The fine will be by far the biggest on a US tech company
NYT: http://bit.ly/2l7otaJ
#FTC: Federal Trade Commission

Sport ⚽️ | Federer beats Nadal to join Djokovic in finals, Serena takes on Halep
– Federer beat Nadal 7-6 (3), 1-6, 6-3, 6-4 to enter his 12th Wimbledon Final
Highlights 📺 : http://bit.ly/2JB3iqk (YouTube)

Small Cars Are Being Driven Out of Existence
– A nice article that puts the Beetle’s demise in perspective as also takes a look at car ownership trends.
– Anecdote: the avg age of a German car buyer is 53
Bloomberg: https://bloom.bg/2Y3uDuv


Klips for 15th July

World 🌎 | Death roll in Nepal floods rises to 55
– Flash floods and landslides struck Nepal on Friday as river water rose to dangerous levels
– One such river is the Kosi, that flows into Bihar, who’s flooding in 2008 caused 500 death
Reuters: https://reut.rs/30GTLoL

National 🇮🇳 | Chandrayaan-2 launch called off, new launch date to be announced
– The launch was called off due to a technical snag at T-56 (56 min before takeoff)
Livemint: http://bit.ly/2Z2rXdG
The live broadcast can be found here, when scheduled: https://youtu.be/6f_HxuVHfrw (DD)

Economy & Business 💰 | DHFL issues warning on survival
– The company said it was ‘undergoing substantial financial stress’ and its ability to raise funds was ‘substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements.’
– It defaulted again on its July 6 and 8 payments worth ₹28cr
– It posted a loss of ₹2200cr during the quarter
Reuters: https://reut.rs/2jOyf1d

After PNB, Allahabad Bank reports Bhushan fraud
– The bank reported a fraud of ₹180cr by Bhushan Power and Steel
– The firm was one of the first to undergo insolvency proceedings
Reuters: https://reut.rs/30DeM3D

Sport ⚽️ | England win World Cup in thrilling superover
– Both teams were tied even in the superover, but Eng won as it had scored more boundaries
📺: http://bit.ly/2YVML6W (YouTube)

Djokovic wins against Federer in 5th set tie breaker to win 5th tittle; Halep wins women’s Finals
YouTube: http://bit.ly/2jQGn1z

Opinion: How good or bad is the Budget decision to issue foreign currency debt?
– Raghuram Rajan shares his views on why the govt is undertaking this ‘adventurous move’
ET: http://bit.ly/2GdsF0n
3min read


Klips for 16th July

World 🌎 | Toll rises above 100 in floods across Nepal, India and Bangladesh
– Assam and Bihar have been the worst hit
– Floods in this region cause displacement and deaths annually and the toll is only likely to go up
– In 2017, atleast 800 ppl were killed in floods due to monsoon and overflowing rivers
Reuters: https://reut.rs/2JzbcS9

Economy & Business 💰 | China’s 2nd quarter GDP growth falls to 27yr low
– The Chinese economy grew at 6.2% due to weakened demand at home and trade pressures
– Trump said in a tweet: ‘The United States Tariffs are having a major effect on companies wanting to leave China for non-tariffed countries’
Reuters: https://reut.rs/2JAhFfR

$20bn CFM engine deal at center of Indigo row
– Pratt and Whitney had also submitted a bid but could not match CFM’s price
– The P&W engines ran into several technical issues which prompted Indigo to look for alternatives
Livemint: http://bit.ly/2lCi6N9

Exports down for first time in 9 months, imports down too as demand falls
– The falls have been attributed to trade pressures as well as temporary closures of Jamnagar and Mangalore refineries
– Exports fell 9.71% while imports were down 9.06%
Livemint: http://bit.ly/30Aa2vy

Govt plans to raise ₹11000cr through July 18 CPSE ETF
– The Central Public Sector Enterprises’ ETF will comprise shares of 11 PSUs including NTPC, ONGC etc
– The govt has raised ₹37850cr so far from 5 tranches of CPSE ETFs, first launched in 2014
#ETF: Exchange Traded Funds
Tech 📱 |

Opinion: Frankly, FM Nirmala Sitharaman, Shed PSU Control, Not Ownership
BQ: http://bit.ly/30zgxPa

Opinion: Making Cities Safe for E-Commerce
– On-demand deliveries are adding to congestion and chaos in cities
Bloomberg: https://bloom.bg/30zRCLe

Opinion: Waiting for daybreak: On Chandrayaan-2
– A quick explainer on why the ‘small window’ takes about by the media may not be such a big concern
Hindu: http://bit.ly/2lBWDE1


Klips for 17th July

World 🌎 | Pak airspace now open for civilian aircraft
– The airspace had been shut down since the Balakot air strikes
– This meant several flights (especially from Europe, US to Asia) had to chart longer, more expensive routes around it
– Air India suffered a loss of ₹491cr due to this, and so did other airlines
Livemint: http://bit.ly/30yP2Fo

National 🇮🇳 | Bombay HC puts a stop to ₹14000cr Coastal Road Project
– The HC quashed all clearances taken by the BMC and asked it to undertake a proper Environmental Impact Assessment (EIA)
– The 29.2km stretch of coastal road was meant to connect Marine Lines to Kandivali via an 8-lane expressway
– The judgement came in response to several petitions filed by different groups, fishing co-operatives, NGOs and environmentalists
Livemint: http://bit.ly/30y8mT9

10 dies in building collapse in Mumbai’s Dongri
– It appears the building was meant to undergo redevelopment and had received the requisite permission, but work had not started
Hindu: http://bit.ly/2xS9Hb2

Economy & Business 💰 | ‘We cannot allow this to happen’: RSS economic wing on foreign currency bond sale
– The Swadeshi Jagran Manch joins policy makers and economists in raising doubts on the govt’s plans to raise funds via a foreign currency bond sale
– It said that the experience of countries that have gone down this route has not been good (Argentina, Turkey)
Reuters: https://reut.rs/2kdyNOo

Suzlon defaults on bond payments worth $172mn
– The amount is part of its total bond issuance of $546mn of FCCBs
– Given its low share price, investors were unwilling to convert these bonds to equity
Livemint: http://bit.ly/2Y8hccS
#FCCB: Foreign Currency Convertible Bonds

Tech 📱 | Amazon to pay $10 for tracking browsing data on Prime Day
– The offer constitutes the user installing a plug-in, which allows Amazon to track websites a user visits
– The ‘offer’ is valid for users who make a $50 purchase on Prime Day
Reuters: https://reut.rs/2Gfb9cp

🗣Interesting: Hotstar sets new live-streaming record for Ind-NZ match of 25.1mn
Yourstory: http://bit.ly/30GLNvP

Opinion: A Dangerous Debt Ruling in India
– The recent judgement by insolvency court in the Essar case completely nullifies the difference between secured vs unsecured lenders, thus making ‘collateral’ insignificant
Bloomberg: https://bloom.bg/30JAzqr


Klips for 18th July

World 🌎 | Kulbhusan Jadhav death sentence to be reviewed
– The order was given by the World Court to Pakistan which convicted him to death on charges of being a spy
– India had formally asked UN’s ICJ to intervene in the case
Reuters: https://reut.rs/2YXO9FS
#ICJ: International Court of Justice

National 🇮🇳 | Karnataka trust vote to take place today as odds heavily against Kumaraswamy
– The SC gave relief to 15 dissident Congress and JD(S) MLAs from being part of the vote
– This is the 3rd motion of trust vote since the govt came to power in 2018
Hindu: http://bit.ly/2GhG73n

Economy & Business 💰 | Netflix shares plunge 12% as it reports lower than expected numbers
– It added 2.8mn paid subscribers to analysts’ expectations of 4.8mn
– Netflix lost subscribers in all markets where it raised prices
– It also confirmed a mobile-only, cheaper plan for India
Reuters: https://reut.rs/2GgZv0x

RBI panel recommends staggered transfer of surplus to Govt
– The panel headed by former RBI Governor Bimal Jalan, was constituted to workout an appropriate means of surplus transfer
– The panel report, which has yet to be submitted to the RBI, recommends transfer of surplus in a ‘staggered manner over 3-5 years’
Livemint: http://bit.ly/2YWWvO3

After ICRA, CARE rating CEO now sent on leave
– CARE’s CEO and MD Rajesh Mokashi was sent on leave after an anonymous complaint to SEBI
– It is believed the matter relates to the IL&FS loan defaults
Livemint: http://bit.ly/2GeqQQU

Tech 📱 | Amazon says Prime Day surpasses sales of Black Friday and Cyber Monday combined
– Amazon didn’t give exact figure but said customers bought a total of 175mn items over the 2 day window
Livemint: http://bit.ly/2YYozAy

Opinion: Sword against Pen
– On India’s ranking on the 2019 World Press Freedom Index
Hindu: http://bit.ly/2YZDURE

Interesting: Tesla’s ‘chaotic’ 2019 price changes
Bloomberg: https://bloom.bg/2GiB0jD


Klips for 19th July

World 🌎 | 33 killed in Japan’s worst mass murder in 2 decades
– In an arson attack, a man set an animation studio ablaze after having doused it with fuel
– Kyoto Animation, where the attack took place, creates ‘Anime’ and has produced popular series like ‘Sound! Euphonium’
Reuters: https://reut.rs/2LoWX4B

National 🇮🇳 | Chandrayaan-2 launch now on 22nd July
– The original launch was called off last week after a ‘technical snag’, minutes before take off
– The launch is scheduled at 1443 IST
Reuters: https://reut.rs/2GhMqnx
Watch livestream of the launch: https://youtu.be/6f_HxuVHfrw

Economy & Business 💰 | Hopes of Jet revival all but over; creditors file claims worth ₹24,887cr
– Of these, claims worth ₹8462 were admitted
– A total of 16,642 claims were received
Livemint: http://bit.ly/2JDQYGR

Tech 📱 | After RSS’ call for ban, Govt queries TikTok
– The govt asked TikTok how it collects and uses user data
– Swadeshi Jagran Manch, an RSS affiliate, wrote to PM Modi calling once again for a ban on TikTok and Helo, both ByteDance products
Reuters: https://reut.rs/2YZnkkO

Opinion: There is big money at the top of the pyramid
– On what LVHM’s Arnault’s rise to the 2nd place on World’s Richest list points to about the world
Livemint: http://bit.ly/2JDQ3Gw

Opinion: India’s Unicorns Are More Like Workhorses
– ‘Forget AI and Robots: India’s four largest unicorns, are in online payments, e-commerce, ride-hailing and education’
Bloomberg: https://bloom.bg/2M1iJef


Klips for 20th July

National 🇮🇳 | Karnataka trust vote pushed to 22nd July
– The Governor sent 2 letters ‘directing’ the speaker to complete the vote by Friday
– Most of the day was spent in discussing whether a Governor can set deadlines for such trust votes
Hindu: http://bit.ly/2O6j1D9

Economy & Business 💰 | Indigo posts best ever quarter profits
– The company reported net profits of ₹1203cr for Q1 up from ₹27cr last year
– The carrier’s market share now stands at 46.4% with 235 aircraft in operation
Livemint: http://bit.ly/32EBUQQ

Jio, Reliance Retail cushion refining hit as RIL reports weak quarter
– The company’s net profit was up 7%, slowest in 10 quarters as both Jio and retail recorded 40% jumps in revenue
– Jio also became the 2nd biggest operator (323mn) in the country surpassing Airtel (320mn) despite concerns on falling ARPU
– Jio was the only operator to add new net subscribers, adding 24.5mn subscribers
Reuters: https://reut.rs/2SssO4V
#ARPU: Average Revenue per User

🗣5 reasons why markets lost ₹3.79 trillion in 2 days
– Foreign investors are said to have pulled out ₹1400cr on Thursday itself and upto ₹5000cr in July
– Other factors include: weak Q1 numbers, concerns over consumption and downward revision of growth rates
Livemint: http://bit.ly/2O7XABJ

World Bank pulls funding for Andra’s Amaravati project
– The World Bank said it had pulled funding worth $300mn after the govt dropped support for the project
– The project was the brainchild of former CM Chandrababu Naidu
Reuters: https://reut.rs/2SvMKEk

Featured article: Uber India – The Lost Opportunity
– A nicely written piece on how Uber India differs from its global entity and why that’s a lost opportunity
LinkedIn: http://bit.ly/2O5R26M

Inclusion over Exclusion: in Assam NRC
Hindu: http://bit.ly/32ABQla
To get a more deeper understanding of NRC you can check this video by Akash Banerjee shared earlier: YouTube: http://bit.ly/2XfG9CG

🗣Satellite imagery shows severity of Assam and Bihar floods
Scroll: http://bit.ly/2Om8XGz


Klips for 22nd July 🚀

World 🌎 | HK protests plunge into chaos with tear gas and rubber bullets
– In a direct attack, protestors pelted eggs and drew graffiti on China’s Liaison Office
Reuters: https://reut.rs/2Ob9k6F

National 🇮🇳 | Chandrayaan-2 launch set for today
– The launch will take place at 2:43PM today
Livemint: http://bit.ly/32G7XQv

Delhi bids adieu to Sheila Dixit with state honours
– The 81 year old former CM and MP died after a cardiac arrest on Saturday
A brief look at some of here contributions to Delhi (Hindu): http://bit.ly/2O9xcHT

Economy & Business 💰 | 🗣Railways seeks Cabinet nod for freight corridors worth ₹3 trillion
– 3 corridors have been proposed: East-West (Kolkata-Mumbai), North-South (Delhi-Chennai) and East Coast (Kharagpur-Vijaywada)
Livemint: http://bit.ly/32Ks7Zx

Tech 📱 | Smart-E e-rickshaw raises ₹100cr from Japan’s Mitsui
– The Delhi based company operates 1000 e-rickshaws in Delhi NCR
Livemint: http://bit.ly/32Gy0a6

Opinion: Clipping SEBI’s wings
After RBI, the govt is now set to ‘suck up’ surplus SEBI funds. And given that the amount is not significant, the move is only aimed to take away its financial independence. Another ‘independent’ institution’s wings clipped
Hindu: http://bit.ly/32LwCDt

🗣Opinion: Democrats say no one is above the law — except on immigration
A very interesting article on Democrats’ stand on immigration. And their 2-faced approach to it
Washington Post: https://wapo.st/32EdFT7


Klips for 23rd July

World 🌎 | Death toll in Nepal, India and Bangladesh floods crosses 300
Reuters: https://reut.rs/2LwOw7z

National 🇮🇳 | Chandrayaan-2 launch successful
– The craft has started its near 50-day mission to land on the moon
– Most of this time will be spent orbiting the earth and moon, as it tries to get the right alignment for landing
– The journey to the moon takes ~3 days
Reuters: https://reut.rs/2SzvrSS

90 people rescued from MTNL building fire
– A total of 175 firemen carried out the rescue operation
– It appears the building fire safety systems were shut due to ongoing repair works for 6 months
Hindu: http://bit.ly/2JK0ad2

Economy & Business 💰 | 🗣Foreign sovereign borrowing is dire addiction, warns member of PM’s economic panel
– Rathin Roy says India is facing a ‘silent fiscal crisis’
– His warnings follow 2 former RBI governors’ concerns over the sovereign bond proposed in the Budget speech
Print: http://bit.ly/2JJ59L4

SC stays NCLAT verdict in Essar Steel case
– The SC said that it would make sense for banks to wait for Parliament to pass amendments to the IBC
– These amendments are meant to protect interests of secured lenders
Livemint: http://bit.ly/2M7KMIQ
#IBC: Insolvency and Bankruptcy Code

Tech 📱 | Uber tests monthly pass combining Eats, rides, bikes and scooters
– The tests are underway in San Francisco and Chicago at $25/month
Techcrunch: https://tcrn.ch/2MfyGhd

Interesting: The fuss over FaceApp could be just another US-Russia face-off
Livemint: http://bit.ly/2M5hkDy

Opinion: You Can’t Shame Asian Flyers
Interesting anecdote: ‘An individual flying roundtrip between New York and London generates the same level of emissions as a person heating their home for a year’
Bloomberg: https://bloom.bg/2M5jxyQ


Klips for 24th July

World 🌎 | Johnson to succeed May as British PM
– Johnson, London’s former mayor, said: ‘We are going to get Brexit done’, after winning the party vote
Reuters: https://reut.rs/2GqkUEJ

National 🇮🇳 | Trump’s Kashmir comment sets off political storm
– Trump said that Modi had requested him to be a mediator in settling the dispute in Kashmir
– However, the external affairs minister told Parliament that no such request was made
Reuters: https://reut.rs/2SyFYh0

JDS-Congress lose trust vote
– The coalition govt lost the floor test 99-105 ending a 425 day govt
Livemint: http://bit.ly/2SAozo1

SC extends deadline for Assam NRC publication to Aug 31
– The SC also rejected the govt’s proposal to undertake a 20% sample re-verification
Hindu: http://bit.ly/2LCs6lf

Economy & Business 💰 | IMF revises India growth forecast downwards for 2019 and 2020
– The IMF cut growth forecast to 7%(2019) and 7.2% (2020), a downward revision of 0.3%
– Global growth forecast was also cut by 0.1%
BQ: http://bit.ly/2SAawz6

Deadline to file IT returns extended to 31st August

Interesting: A Tribute to George, Matt and Gary: MasterChef Australia Fans Bid Adieu
Livewire: http://bit.ly/2LCstw9

🗣Opinion: The Political Fix: Has the anti-defection law hollowed out India’s representative democracy?
Scroll: http://bit.ly/2LDO5rT


Klips for 25th July

National 🇮🇳 |India’s monsoon rains 35% below average this week: IMD
– MP received 65% less than avg rainfall this week
– Overall the monsoon is 19% below average
Livemint: http://bit.ly/2Mac4yo

Economy & Business 💰 | Panel approves ₹3050cr fine for Airtel, Voda
– The fine is for failing to provide PoIs to Jio in 2016
Reuters: https://reut.rs/2ZaXr1k
#PoI: Point of Interconnect

Nissan warns of profit plunge, to cut 10000 jobs
– Nissan said its profits fell 90% in Q1
Reuters:https://reut.rs/2GtxhQd

Tech 📱 | Uber ties up with Sun Mobility to offer auto-rickshaws in India
– Sun Mobility is run by Chetan Maini, the man behind India’s first electric car: Reva
Reuters: https://reut.rs/2GtTGNc

Zeta’s Employee Benefits business merges into Sodexo
– This comes a day after Sodexo invested $60mn in Zeta valuing it at $300mn
Livemint: http://bit.ly/2ylbF4h

Opinion: Why U.S. Factories Won’t Leave Asia
– Its not just about wages and tariffs but also technology, availability of the workforce and surprisingly, skills
Bloomberg: https://bloom.bg/2MhaBGN

Interesting: Quiet rise of India’s ticketing unicorn – BookMyShow
– Even with a competitor like Paytm, BMS accounts for 2/3rds of all tickets sold online
Livemint: http://bit.ly/2Me2vOP

🗣Mumbai Coastal Road: Rather than land, city must reclaim its spirit of public-mindedness
– An excellent piece on what Mumbaikars can learn from the Mahim causeway built in the 19th century
Scroll: http://bit.ly/2Me3XRh


Klips for 26th July

World 🌎 | Temperatures soar across Europe as Paris hits record temperatures
– Paris hit 42.4 C beating the previous highest of 40.4 C in 1947
– London is also expected to breach its highest temp on record soon
Hindu: http://bit.ly/2Mbcm8l

National 🇮🇳 | Rajya Sabha passes RTI amendment bill, Opposition walks out
– The controversial amendments to the bill have been strongly protested by the opposition, which feels the Act has been diluted
– The bill now awaits the President’s approval
Livemint: http://bit.ly/2yed3Wg

Western Railway gets token system for general class passengers
– The system is meant to ‘streamline flow of passengers and deter criminals’
– Passengers are issued a token after scanning their biometrics
Hindu: http://bit.ly/2yeOZT7

Economy & Business 💰 | Byju’s replaces Oppo as Indian cricket team sponsor
– Earlier reports suggested that the sponsorship was proving too costly for Oppo at almost ₹1.56cr per game
– Oppo won the rights to sponsorship in 2017 in a deal worth more than ₹1000cr, for 5 years
– China’s Tencent is a lead investor in Byju’s
https://reut.rs/2ZkNFtX

Bajaj Finance assets under management rise 41%, but worry signs show up
– The % of loans having non payments beyond 30 days has increased across categories, especially 2-wheelers
Livemint: http://bit.ly/2MbOAZE
#Stay tuned for a more in-depth backstory on this as to possible causes

Auto parts makers warn of 1 million job cuts if slowdown continues
– The president of the largest industry group for auto part makers voiced these concerns
– He also said that the investments in the sector had frozen due to ‘lack of govt clarity’ on EV
https://reut.rs/2GpLSfl

Tech 📱 | Delayed Samsung Fold now ready for Sept launch
– The phone was available for pre-orders in June but was recalled due to screen issues
CNET: https://cnet.co/2Mghrfx

🗣One year to Olympics: Taking stock of where India stands on the road to Tokyo 2020
– The common question is ‘How many medals will India win’. Well, a statistical tool says 14
Scroll: http://bit.ly/2Me8x2c

The terrorist tag: on the Amendments to the NIA Act
– A critique on the potential for misuse of UAPA
Hindu: http://bit.ly/2Mlpyau


Klips for 27th July

World 🌎 | U.S. Supreme Court lets Trump use disputed funds for border wall
– The money, $2.5bn, was approved by Congress for the Pentagon
– ‘Wow! Big VICTORY on the Wall,’ Trump tweeted
https://reut.rs/2ZnTiHP

National 🇮🇳 | Draft motor vehicle policy proposes scrapping of vehicles older than 15yrs
– Charges for renewal of certificates have also been increased to ₹1200 every 6 months
– The draft has been opened up for public comments
Livemint: http://bit.ly/2MjVqMM

EVM tampering: Activists send legal notices to foreign microchip manufacturers
Hindu: http://bit.ly/2ydensb

Economy & Business 💰 |Maruti profits fall 27%, worst since Q4 2014
– Sales were down 17.9%
– The numbers, however, were better than expectations due to income from other sources and reduction in costs
Livemint: http://bit.ly/2MgwEgA

PNB back in black for first time after Nirav Modi scam, reports profit of ₹1019cr
– The country’s 2nd largest public sector bank reported losses for every quarter since the ₹14000cr scam was detected
– The surprise profits are on the back of ‘reduced provisioning for bad loans’
Livemint: http://bit.ly/2MhB1Io

Jio becomes country’s biggest mobile operator
– The 3yr old operator pipped Voda-Idea which reported a decline in subscribers ok Friday
– Jio has 331mn subscribers to Voda-Idea’s 320mn
Livemint: http://bit.ly/2yh4hqw

Tech 📱 | SoftBank’s Son announces $108bn Vision Fund 2 with Microsoft and Apple
– SoftBank will invest $38bn in the fund
– The fund will also tap into a number of Japanese firms
– Only Apple and Foxconn from the original fund seem to have carried on (there is no mention of Saudi investors)
Livemint: http://bit.ly/2yh2uli

Interesting: China Will Be the World’s Used Car Salesman
– Very interesting piece with some hard-to-find data points like: ‘In developed economies, more than twice as many used cars are sold as new ones’
Bloomberg: https://bloom.bg/2MhOpfy

Interesting: Think Legroom on Planes Is Bad Now? It’s Going to Get Worse
– Cebu Air is set to cram in a record 460 passengers in A330neo’s, 20 more than before
Bloomberg: https://bloom.bg/2yh2ZvI

Interesting: 66% of Indians ordering food online are more concerned about quality than speed of delivery
Scroll: http://bit.ly/2MlQ57J


Klips for 29th July

National 🇮🇳 | Unnao rape case survivor injured in ‘accident’, 2 others killed as truck hits her car in Rae Bareily
– The truck’s number plate was smeared by black paint
– UP DGP said that the incident did not appear to be ‘a case of conspiracy or intent to murder’
Hindu: http://bit.ly/2KanQX2

Former Union minister Jaipal Reddy passes away
– He was 77 yrs old and undergoing treatment for pneumonia

Bullet train to be completed by 2023: Piyush Goyal
– The total cost of the project is estimated to be ₹1.08L cr of which ₹3226cr has been incurred
– The Railway minister shared this information in response to a question in RS
Livemint: http://bit.ly/2Kd5GUj

Economy & Business 💰 | Sat: GST council lowers tax on EVs, chargers
– The tax rate was reduced to 5% from 12%
– The rate was also reduced for chargers, charging stations from 18% to 5%
BQ: http://bit.ly/32T6ExD

Sport ⚽️ | Max Verstappen wins German GP
Highlights (Youtube): http://bit.ly/2K99pm6

Interesting: El Niño threat has passed… rain deficit will decrease by July-end: K.J. Ramesh, IMD
– An interview worth a quick scan on how IMD looks to improve forecasting going ahead
Livemint: http://bit.ly/2KejApt

🗣Opinion: The world’s top tourism spots want you to stay home next holiday season
– From Venice to Barcelona to Amsterdam, they all are experiencing the down sides of over-tourism. And little will change unless the measure of ‘total visitors’ isn’t changed
Scroll: http://bit.ly/32X2vZB

Interesting: Jack Ma’s 3-minute loans
Bloomberg: https://bloom.bg/2K9fYFg


Klips for 30th July

World 🌎 | Russian opposition leader may have been poisoned: doctors
– Navalny had to rushed to hospital from jail after an ‘acute allergic reaction’
– He was sentenced to 30 days in jail for calling a protest, in which 1000 protestors were eventually detained
– The protest was called as several opposition candidates were excluded from a local election
Reuters: https://reut.rs/2Gzjyrb

National 🇮🇳 | DGCA hands 1yr suspension to 2 SpiceJet pilots
– The incident relates to a SpiceJet flight that overshot Mumbai airport’s runway leading to its closure for 3 days
– The pilots landed the aircraft after consuming half the runway
Livemint: http://bit.ly/2OrDvXr

Economy & Business 💰 | SBI slashes deposit rates, keeps lending rates constant
– Deposit rates were slashed from 20bps to 75bps
– The rate for 7-45 day deposits now stands at 5%, down from 5.75%
– The RBI has slashed rates thrice this year, but banks have not passed on the benefits to customers proportionately, as interest rates on loans remain steady
Reuters: https://reut.rs/2GBUmAa

Voda-Idea to shut down m-pesa business, write off ₹210cr
– On July 20, the payments bank business announced its closure due to ‘unanticipated developments’ and regulatory changes
Livemint: http://bit.ly/2Yd6J0n
Also Voda-Idea stock falls 29% after Q1 results
BS: http://bit.ly/2YdCcQb

Tech 📱 | CapitalOne hacked, data on 100mn leaked
– The data includes ‘credit scores, credit limits, contact information, balances, social security numbers’ amongst other details
Techcrunch: https://tcrn.ch/2OoN09v

🗣Interesting: The sarkari cola: How Janata govt launched its own fizzy drink after Coca-Cola left in 1977
Print: http://bit.ly/2Os1Ko4


Klips for 31st July

National 🇮🇳 | CCD owner VG Siddhartha dead, body found from Netravathi river
– He had gone missing since Monday leaving behind a letter apologising for his ‘failures’
Livemint: http://bit.ly/2yrYSg8
A timeline of events and the letter: http://bit.ly/2MrfKMs

Subir Gokarn passes away
– Gokarn was an economist and former RBI Deputy Governor
– He was 60yrs old
BS: http://bit.ly/2ytABpW

‘Triple Talaq Bill’ passed by Rajya Sabha
– 99 voted in favour, 84 against it and crucially 57 stayed away (including AIADMK, BSP and JDU) as also 8 Congress MPs were ‘missing’
– PM Modi said: ‘Parliament corrects a historical wrong done to Muslim women’
Hindu: http://bit.ly/2MtGJHg

Economy & Business 💰 | AbInBev banned in Delhi for 3 yrs for tax evasion
– The world’s largest brewer was found to have used duplicate bar codes on its beer bottles
– AbInBev owns popular brands like Budweiser and Hoegaarden
Reuters: https://reut.rs/2GDKJ3Y

Apple revenues from iPhone dip 12%, indicate move to services
– The iPhone now contributes less than 50% of overall revenues due to diversification
– China, where iPhone sales have been lagging, grew 17% in revenue terms for Apple
Bloomberg: https://bloom.bg/2yrc9G0

Tech 📱 | Pubg launches Lite version to attract low-end Android users
Livemint: http://bit.ly/2MqYQ0f

Opinion: Apple Should Cut iPhone Prices If It’s Serious About Services
– Google reported Pixel shipments doubled when the price was cut to $400
Bloomberg: https://bloom.bg/2ypXPxy

Interesting: Assam’s golden tea sells for ₹50000 per kg
– Manohari Gold tea fetched the price at an auction
Hindu:http://bit.ly/2MwCOtj