Klip

Klips for 28th Aug

World 🌎 | 🗣Pak says may close airspace to India
– The airspace was only recently opened in July after its closure following Balakot air strikes
– Airlines needed to take a far longer route which cost them millions of dollars
Reuters: https://reut.rs/30FpbMv

National 🇮🇳 | PMO note on NHAI only suggestion, will continue to build roads: Gadkari
– The PMO last week had said that NHAI should no longer construct roads, but become an AMC
Livemint: http://bit.ly/2U8yWjE
#AMC: Asset Management Company
#NHAI: National Highway Authority of India

Ram Setu was build by Indian engineers: HRD minister at IIT convocation
– The remarks were made by Union HRD Minister Ramesh Pokhriyal Nishank at IIT Kharagpur
Hindu: http://bit.ly/2ZorIxl
#Some of the minister’s other thoughts on our history & education are worth listening to: http://bit.ly/30OSdtj (Prime Time with Ravish Kumar)

Economy & Business 💰 | HUL reduces prices of Lifebuoy, Lux in sign of weak demand
– For some packs prices were reduced by 20-30% while the minimum reduction was 4-6%
– Interestingly, prices of face washes were increased 4-14%
– Lifebuoy is the highest selling soap across homes in India
Livemint: http://bit.ly/343Cici

Opposition hits back at govt over RBI’s ₹1.76 trillion payout, term it as ‘stealing from RBI’
– Rahul Gandhi tweeted:’It’s like stealing a band-aid from the dispensary and sticking it on a gunshot wound’
Livemint: http://bit.ly/342F8hR

Opinion: A Rainy-Day Giveaway From India’s Central Bank
Bloomberg: https://bloom.bg/2ZuIivw

🗣Interesting: Explainer – Why the RBI approved a record Rs 1.76 trillion transfer to the Modi government
– A small explainer by Scroll on the What, Why and How of RBI’s transfer to the govt
Scroll: http://bit.ly/2Zv6EVO

Klips for 27th Aug

World 🌎 | G7 agrees to provide aid for Amazon fires, Bolsonaro terms it colonisation
– The G7 countries agreed to provide $20mn in aid with Macron leading the effort
– Celebrities have also joined the call to take urgent steps, with DiCaprio personally contributing $5mn
Reuters: https://reut.rs/30CkEKL

National 🇮🇳 | 🗣 Delhi govt approves ₹290cr grants for free bus & metro rides for women
– While the free bus rides will commence from Oct 29, the metro rides plan needs DMRC approval
Print: http://bit.ly/2ZwYBb0

Economy & Business 💰 | Govt to get ₹1.76 trillion as dividend from RBI
– The decision was made by an ‘independent’ committee appointed specifically for this, and approved by the RBI Board
– This was the bone of contention that led to former RBI Governor Urjit Patel’s exit
Reuters: https://reut.rs/2ZnamRm

Sensex jumps 793pts or 2% after booster and expectation of RBI dividend
– The largest jump was seen in PSU banks which rose 3.57% as a large part of the dividend is likely to be used to recapitalise them (₹70000cr)
– The FM announced a slew of rollbacks and measures but markets opened down almost 1%
– RBI’s announcement came after market hours
Livemint: http://bit.ly/30EZFXQ

Tech 📱 | Amazon’s free streaming service, IMDB TV, comes to mobile
– The ad supported service is presently available in the US
Techcrunch: https://tcrn.ch/30HXnqY

Opinion: Four reasons why Sitharaman’s stimulus measures are short on vision
– ‘When you’re always fighting fires, it’s difficult to turn off the water hose and start tending the garden.’
BS: http://bit.ly/2Zm5RGP

Opinion: Time to strike the gavel
– An excellent critique of the SC and the CJI’s lack of will to take the right action (or any action). The article also highlights a similar failing of the SC in 1976 as Emergency was imposed
Hindu: http://bit.ly/30Db8qy

🗣Interesting: In 21 days, 21 reasons to believe ‘Kashmir is normal’
Scroll: http://bit.ly/2ZC3Jec

⭐️ 🗣A social venture is putting more e-rickshaws on UP and Bihar roads, cutting emissions drastically
Scroll: http://bit.ly/30CiwCN

Klips for 26th Aug

World 🌎 | Trump ‘regrets’ not raising tariffs higher: White House
– Trump had responded in the affirmative to questions on if he was having second thoughts on China tariffs
– The statement comes as a clarification to this
Reuters: https://reut.rs/30zOv6t

National 🇮🇳 | Manmohan Singh set to lose SPG cover
– It is reported that the order has been been given ‘orally’ and the decision was taken on May 25, two days after the election results
– The protection was extended to former PMs after Rajiv Gandhi was assassinated in 1991
Hindu: http://bit.ly/2ZvQz20

Economy & Business 💰 | No new investments from Alibaba in India, to focus only on existing portfolio
– Alibaba is yet to have a successful exit and has investments in Paytm, Zomato, BigBasket and Snapdeal
Livemint: http://bit.ly/2Zpummb

Sport ⚽️ | PV Sindhu wins India’s first World title
– Sindhu beat Japan’s Okuhara to become the first Indian to win at the World Badminton Championships
– It was 3rd time lucky for Sindhu as she had lost the previous 2 finals
– Also, Sai Praneeth won the Bronze in the Men’s draw
Hindu: http://bit.ly/30y7wpL

Opinion: On the wrong side – On Press Council of India backing Kashmir restrictions
Hindu: http://bit.ly/30zAdmr

Opinion: Why India’s labourers can’t afford to buy a packet of biscuits for Rs 5
Bloomberg: https://bloom.bg/2ZspPj1

🗣Interesting: Bajaj Tempo Matador -The camper van with a cult following
Print: http://bit.ly/2Zw9yJM

Klips for 24th Aug

National 🇮🇳 | Kashmir: Security forces clash with protestors, resort to tear gas, chilli grenades
– Check the raw cut video of the protests by Reuters
Reuters: https://reut.rs/2P9THg5

Economy & Business 💰 | Govt ‘rolls back’ FPI, CSR penalty proposals
– The attempts are seen as boosts to a struggling economy
– The govt also ‘promised’ to clear all pending GST refunds within 30 days and future refunds within 60 days
– FM has undone most of the damages caused by her maiden budget: Market analysts (Livemint: http://bit.ly/2PcBsa1)
Reuters: https://reut.rs/2zgw3DN

China hits back at US with tariffs on goods worth $75bn
– China will impose additional tariffs of 5-10% on 5078 products and will come into effect from 1st Sept and 15th Dec
Reuters: http://bit.ly/2PaTzgw

Moody’s cuts India’s growth forecast by 60bps to 6.2% for 2019
– Likewise it also lowered te 2020 projection to 6.7%
– It listed ‘weak hiring, financial distress among rural households, and tighter financing conditions due to stress among non-bank financial institutions’ as factors for sluggish growth
BQ: http://bit.ly/2Pb19Yv

SBI cuts FD, deposit rates
– FD rates were cut by 10-50bps, and 30-70bps for bulk deposits
– Interest rates on loans were kept unchanged
– It cited excess liquidity and falling interest rates as reasons for the cuts
Hindu: http://bit.ly/2PeHy9M

Tech 📱 | Netflix testing out ‘Collections’
– These are curated lists by experts on what’s worth watching on Netflix
Techcrunch: https://tcrn.ch/2P6KO6T

🗣Interesting: Satellite images of Amazon fires indicate that land is probably being cleared for cattle pasture
Scroll: http://bit.ly/2PdwERD

🗣Opinion: India’s economic crisis has only one root cause
Print: http://bit.ly/2Pd6kqX

Klips for 23rd Aug

World 🌎| 🗣Bolsonaro says Brazil lacks resources to fight Amazon fires
– Just last week Bolsonaro rejected aid to fight the fires
Reuters: https://reut.rs/2ZpZEtf

National 🇮🇳 | Fuel supply stopped to Air India due to ‘unpaid dues’ at 6 airports
– Fuel supply has been stopped at Patna, Pune, Mohali, Ranch, Vishakapatnam and Kochi airports
Print: http://bit.ly/2ZgTifR

Economy & Business 💰 | Amazon acquires minority stake in Future Retail
– Amazon bought 49% stake in Future Coupons which in turn owns 7.3% stake in Future Retail
– Amazon effectively owns 3.58% stake which is valued at $104mn
– But Amazon paid a significant premium for it, though the amount is unknown
Reuters: https://reut.rs/2HhzOgM

Stock markets fall 1.5% after govt response to stimulus package
– India’s Chief Economic Advisor said companies should not depend on govt for stimulus and should ‘change their mindset’
– The Sensex has fallen nearly 4000 pts or 10% since the Budget in July
– The rupee too is on a downward move, now nearing 72 to the dollar, an 8 month low
Reuters: https://reut.rs/2HgHOyr

IRCTC files for IPO, Center could make ₹500-600cr
– The govt will dilute about 12.5% of its stake
– Oddly, IPOs are filed when markets are booming, not when they are in a turmoil
Livemint: http://bit.ly/30tW3I2

Tech 📱 | Google ditches dessert names, Android Q to be called Android 10
– Google also updated its logo for Android
Techcrunch: https://cnet.co/2ZoPp8w
Sport ⚽️ |

Interesting: What’s floccinaucinihilipilification? Ask the RBI
– People had to resort to dictionaries and Google to decode the RBI Governor’s recent speech
Bloomberg: https://bloom.bg/30sd4SV

Interesting: Peppa Pig gets new owner
– Hasbro to buy eOne in $4bn deal
Hindu: http://bit.ly/2ZmBpfB

🗣Opinion: The World has a Germany problem
– An excellent article by Paul Krugman
– This sums it up: A Trade war with Europe ‘is the last thing either America or Europe needs. Which means that Trump is probably going to do it.’
NYT: https://nyti.ms/30vVayA

Klips for 2nd Aug

World 🌎 | Trump escalates trade war with China
– Says will impose 10% tariffs on an additional list of goods including mobiles, laptops etc
– The value of these goods is about $300bn
– Markets tumbled and oil fell 8%, its biggest drop in 4 years
Bloomberg: https://bloom.bg/2YCBzir

National 🇮🇳 | 25000 additional troops deployed in J&K
– Many personnel were relieved of Amarnath Yatra duty
– The Governor said: ‘all was normal’
Hindu: http://bit.ly/2SZ2IXE

SC moves Unnao rape accused case to Delhi
– The move was to ‘allay gears that he could influence the outcome’ in UP
– BJP also expelled Kuldeep Sengar yesterday
Reuters: https://reut.rs/2ZmF5Lb

Ahead of elections, Kejriwal announces free electricity upto 200 units
– A 50% subsidy is given upto 400 units
– The rate for 200 units is ₹1400 in Mumbai and ₹3300 for 400 units
– Kejriwal said the subsidy was already being provided and has been readjusted after reduction in fixed costs
Hindu: http://bit.ly/2YvXBU8

Economy & Business 💰 | Autos: Worst sales in 2 decades in July
– Sales of top 5 manufacturers fell 31% from last year
– Maruti reported a fall of 37% in sales
Livemint: http://bit.ly/2T16csx

GST collections grow 5.8% in July to ₹1.02trillion
– The central govt will have to compensate state govts as this is below the agreed 14% annual growth rate
Livemint: http://bit.ly/2SZGLIb

Airtel posts first quarterly loss in 14 yrs
– The operator reported a loss of ₹2866cr, on account of a one time loss
– Avg monthly data usage was 12GB compared to 7.8GB last year
– Its ARPU rose to ₹129 from ₹123, largely due to reduced subscribers
Livemint: http://bit.ly/2YCDvrd

Interesting: Hope floats – RTI activists march upto President’s house to deliver petition
– The petition is against the RTI Amendments Bill and has 2L signatures including 1.27L online signatures via Change.org
Hindu: http://bit.ly/2YyOy4F

🗣Interesting: Despite Coffee Day’s popularity and scale, why does it make so little money?
Scroll: http://bit.ly/2SZ5P1F

Klips for 1st Aug

National 🇮🇳 | Amend law if needed but regulate Ola and Uber: SC to Centre
– The matter relates to a petition related to women safety
– The petition was filed in the aftermath of the 2012 Delhi gangrape
Livemint: http://bit.ly/2LTPfQi

Fixed charges reduced but energy rates increased in Delhi
– The changes were made by the DERC whereby fixed charges for 5kW to 15kW were brought down to ₹100 from ₹175
– However energy charges were increased for households consuming more than 1200 units as also other categories
Delhi: http://bit.ly/314NUtm

Economy & Business 💰 | US Fed cuts rate 25bps, rules out long series of cuts
– The cut was termed as a ‘mid-cycle adjustment to policy’
– The US dollar rose to its highest since May 17, with Asian markets likely to open lower
– This is the first rate cut since 2008
Reuters: https://reut.rs/2Ywio5J

Sensex, Nifty log worst July in 17 years
– The BSE Small and Mid-Cap indices were down 7.87% and 10.87% respectively
– The Sensex has lost 4.86% and Nifty 5.69% in July
Livemint: http://bit.ly/31dbNiB

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

E-sport: 16yr old Fortnite champion wins $3mn
– Kyles Giersdorf won the solo competition at the Arthur Ashe Arena, which also hosts the US Open
– The winning amount is more than what Djokovic won recently at Wimbledon
BBC: https://bbc.in/318NiDe

Opinion: Beyond Talaq – On Muslim divorce bill
– The article articulates all the valid reasons for questioning the need for a ‘law’
Hindu: http://bit.ly/2LUzw3e

🗣Interesting: Chernobyl lessons unlearned – Russia hides another nuclear leak
Print: http://bit.ly/2LVdn50

🗣Interesting: How will changes in the law affect companies’ CSR?
– Unspent amounts (post 3yrs) will go into the PM Relief Fund
Livemint: http://bit.ly/316ftT1

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

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 28th Feb

Klips for 28th Feb

National 🇮🇳 | IAF pilot in Pak custody as both countries trade blows along border
– India shot down a Pak F-16 that was headed with payload towards India’s military bases
– In the exchange an Indian MIG-21 was lost and the pilot is now in Pak’s custody
– Countries across the world have urged restraint and a de-escalation, however the situation remains tense
Reuters: https://reut.rs/2NzAss6

World 🌎 | Speed not the key in North Korea denuclearisation, says Trump
– Trump met Kim at Hanoi in Vietnam
– Trump also said he ‘very much appreciated that no (nuclear) tests have been conducted’
Reuters: https://reut.rs/2EC7uoz

US, UK, France ask UN to ban JeM Chief Masood Azhar
– The fresh proposal was made to the Security Council on Wednesday
– China is likely to block the move
Hindu: http://bit.ly/2NBTJco

Economy & Business 💰 | 7 more Jet Airways planes grounded
– Jet has been unable to pay dues to lessers and the count of grounded planes is now 13

Tech 📱 | Spotify launches in India
– The music streaming service faces stiff competition in an already crowded music streaming market
Techcrunch: https://tcrn.ch/2NzvlYL

Op-Ed 📝 | 🗣 Opinion: A patchwork approach to GST problems
The appeal of GST was its simplicity and transparency that it was to bring in, maybe even gradually. However, constant tinkering for ‘a sector’s benefit’ and then some more are making it more complicated and opaque. Some very pertinent observation put down by the author. Worth a read.
Hindu: http://bit.ly/2GQx6jT

Interesting: In Beijing, You Have to Win a License Lottery to Buy a New Car
China has some rather interesting rules for limiting cars that come onto the road. Here’s one: you need to win a lottery for getting a number plate. An interesting read, especially given the Indian context.
Bloomberg: https://bloom.bg/2GQTNEl