Saturday, 26 May, 2018

Economy

Look to India for returns, not China’s Belt-and-Road, funds say

As the Chinese initiative is primarily for Beijing to exert its influence over the region, investors are not seeing much possibility of financial returns. 
Sanjeev Gupta, executive chairman of Liberty House Group

Tycoon Gupta to target Australia in financial services expansion

GFG sees major opportunities in India despite challenges with regulation and infrastructure, will continue to pursue three deals under the sell-off of assets prompted by bankruptcy law, said executive chairman Gupta.
RCom will have 270 days for its debt repayment plan

Ericsson Wins Plea to Push Ambani’s RCom Into Insolvency

The Mumbai bench of National Company Law Tribunal has placed Anil Ambani's Reliance Communications Ltd. under insolvency proceedings. This will prevent Anil Ambani from selling RCom's airwaves, towers, and fiber assets to his elder brother's company.
Nirav Modi fraud and Punjab National Bank

Nirav Modi fraud cost Rs 14,357 crore, says PNB

The bank Tuesday posted its largest-ever quarterly loss of Rs 13,416.91 crore for the January-March period, mainly on account of high provisioning for bad loans.
Pedestrians look up at an electronic ticker board showing a budget news report outside the Bombay Stock Exchange (BSE) in Mumbai.

Surprise twist in India’s state elections deflates stocks rally

With BJP leading in 104 of the 222 seats that voted 12 May, the election may result in a hung assembly, paving the way for the JD(S) to play kingmaker in forming a coalition government.
Cryptocurrency

Indian origin co-founder of a cryptocurrency company accused of $60 million fraud

The Federal Bureau of Investigation seized 91,000 Ether units, consisting of digital funds which amounted to $60 million. The fraudsters used to tell potential investors that Centra Tech had formed partnerships with Bancorp, Visa, and Mastercard to issue Centra Cards.
A shopper looks at sunglasses at a roadside stall in Mumbai, India.

‘Ugly’ inflation puts RBI closer to interest rate hike

As the payment for oil increases, India’s current account deficits are prone to widen making the economy more vulnerable to rising US interest rates. 
A file image of Narendra Modi with Amit Shah |

Sensex has best gain in months as BJP leads in Karnataka

The BSE Sensex rose 1.1 per cent to 35,933, set for the biggest advance since 5 April. The gains damped price swings, with the India Volatility Index tumbling 11 per cent.
Government exposes Aadhaar data

Errors by government authorities expose Aadhaar to risk and criticism

Despite government's claims that Aadhaar card information cannot be leaked, it has happened several times. Ironically, in some cases, it is done by the government itself.
The hike in fuel prices post elections comes as a shock | Udit Kulshrestha |Bloomberg

Fuel price hikes resume after Karnataka election ends, analysts smell a rat

While the govt says it hasn’t given any directives over prices, Indian Oil increased prices Monday for the first time since 24 April.
pregnant woman

Bar council rule implies women can’t juggle pregnancy & legal profession

When the court said maternity leave cannot granted to a “professional course”, it deepened the notion that in a woman’s life professionalism and family cannot go hand in hand.
Illustration by Siddhant Gupta

How should the Indian army ethos handle Major Gogoi’s case?

Indian Army Chief Bipin Rawat has said that 'exemplary punishment' will be given to Major Leetul Gogoi, if he is found guilty of violation of Army rules. Experts weigh in.
Illustration by Peali Dezine

The barely told stories of Indian and Pakistani spies making peace while waging war

Some untold or barely told stories of Indian and Pakistani spymasters making peace on the sidelines of war.