The Economist - Business
a few seconds
Rite of passage IF SEVERAL hundred million Indians do migrate from the countryside to cities between now and 2050, as the UN expects, it will be a fiendishly busy few decades for Vivek Aher, who runs a low-cost hostel, one of five, on the outskirts of Pune, a well-off city three hoursdrive from Mumbai. A fair few of the new arrivals will have their first experience of urban living bunking in one of the hostels1,350 beds. Should recent experience be anything to go by, most of the new arrivals will test Mr Aher’s patience by tacking posters on his hostel’s walls, or endlessly complaining about the Wi-Fi. India has two main drags on economic growth. One is the difficulty of finding a job, especially in the places people live. The other is a chronic shortage of cheap housing. Aarusha Homes, Mr Aher’s employer, started in 2007 to help people seize economic opportunities far from home.
The Economist - Business
a few seconds
MIGHT Donald Trump’s promise to shake up America’s trade policy extend to its statistics? According to a report in the Wall Street Journal , discussions are afoot on changing the way trade figures are tallied. The Bureau of Economic Analysis, the country’s main statistical body, calls this “completely inaccurate”. But in trade as elsewhere, the new administration seems prone to using statistics as a drunk uses a lamppost—for support rather than illumination. The proposal reportedly involves stripping out some of America’s exports from the gross numbers. America sold $1.5trn of goods abroad in 2016, but of that $0.2trn were re-exports that left the country much as they had arrived. This type of trade has been growing, reflecting America’s role as a hub for North American trade. As a share of its combined exports to Mexico and Canada, re-exports rose from 12% to 20% between 2002 and 2016.
The Economic Times
7 minutes
NEW DELHI: The Civil Aviation Ministry's plan of doing away with hand baggage tags of fliers may not be implemented quickly as the CISF, which secures the country's airports, has objected to its immediate execution. The Bureau of Civil Aviation Security (BCAS), security regulator for civil flying operations, today issued a circular shelving the mandatory practice of putting security tags on hand baggages at seven major airports with "immediate effect". "A trial run was run by the CISF at few airports to see if hand baggage tags could be done away with. The trial was found to be successful but a feedback was drawn which required deployment of requisite security gadgets, CCTVs and smart cameras in the airports terminal before such an initiative can take off. "Such infrastructure deployment is yet not complete at many airports including some large ones," a senior CISF official said.
South China Morning Post
13 minutes
TEDTalks (video)
18 minutes
Charity Wayua put her skills as a cancer researcher to use on an unlikely patient: the government of her native Kenya. She shares how she helped her government drastically improve its process for opening up new businesses, a crucial part of economic health and growth, leading to new investments and a World Bank recognition as a top reformer.
KyivPost
21 minutes
The Economic Times
31 minutes
After 100-mn landmark, now comes Mukesh Ambani's real big testIf Ambani can double the customer count, and get $4 from each of them, investors will get a decent return. Anything less, and the joy may be short-lived.
The Iran Project
32 minutes
A feasible, though by no means convincing, answer to the above question is that Turkey is acting opportunistically and wants to benefit from all sides, even if it means allowing smuggled oil from ISIS territory, as has been the case since 2014. But, appeasing Saudi Arabia, which has bankrolled some of the extremist jihadists in Syria, will only augment Turkey's own insecurity syndrome in the long run, no matter what the short-run gains in terms of likely Saudi financial support for Turkey is. Hence, the Turkish government has to let the chips fall one side or the other and cannot possibly play its current double game without incurring substantial costs. Needless to say, Ankara is playing fire with the longevity of hitherto solid Iran-Turkey economic ties, which is expected to grow substantially in the post-nuclear deal era. Yet, instead of focusing and investing energy on expanding those bilateral ties, Ankara is seemingly more interested now in toeing the Saudis' destructive line in the region, which has had calamitous results, such as by causing a humanitarian catastrophe in Yemen after two years of sustained bombardment of the poor country's entire infrastructure.
The Economic Times
34 minutes
By Andy Mukherjee Well done, Mukesh Ambani. In just 170 days, the richest Indian has signed up 100 million customers for his fourth-generation mobile service. That growth, bruising rivals and triggering a wave of industry consolidation, was explosive but predictable -- Ambani's Reliance Industries Ltd. was offering Jio for free. Time taken to reach 100 million Jio subscribers - 170 days Progress will be harder now. The existing median revenue per user of leading Indian telcos such as Bharti Airtel Ltd. is about $4.50 a month, according to Credit Suisse Group AG, very close to the introductory price that Ambani announced. That median is bound to shift lower as rivals try to prevent their better-paying customers from switching to Jio. If Ambani can double the number of subscribers, and get at least $4 from each of them, investors who endured seven lean years will get a decent harvest.
BBC News 24
39 minutes
That could mean an even greater economic benefit. Take this journey, for example. About one hour and 20 minutes. We are 50 minutes into the journey. But if this was an HS2 train, we would already be in Birmingham. And that means spending less time travelling and more time working.
Forbes
39 minutes
Investment managers tending to the portfolios of wealthy clients need to have good economic rational for why certain investment factors work. If they product shop, they need to know that the fund managers behind those products have an explicable and transparent reason for their choices.
The Economic Times
44 minutes
The Sun Daily - Business
44 minutes
BBC News 24
an hour
What about the number of people applying to be British citizens, how do you interpret those figures? These are interesting because they're firm figures, they are not based on survey data, and they show the number of EU nationals, citizens from EU living in the UK, who are applying for a residence, permanent residence cards which they are entitled to do up five residence cards which they are entitled to do up five years, has rocketed in entitled to do up five years, has rocketed in the past year. In 2016, 60 5000 people from EU countries plus other countries that are members of the European plus other countries that are members of the European economic area were granted permanent residence cards.
The Economic Times
an hour
The BJP, led by its Karnataka unit president B S Yeddyurappa, has gone to town on this diary, which reportedly shows a record of payments made to DVGS, Office of RG, Office of SG and AICC, among others.
The Economic Times
an hour
MUMBAI: Top private sector lenders including ICICI Bank and Axis Bank may see more bad loans chocking their earnings growth in coming quarters, said Moody’s Investors Service in a note. “While we have been expecting asset quality to deteriorate for both, we had expected the deterioration to come predominantly from their watchlist accounts. “Asset quality for private sector banks will likely deteriorate,” said Moody’s said in a note. “Both of Axis Bank Ltd (Baa3 positive) and ICICI Bank (Baa3 positive,) have seen significant additions to their NPLs (Non-performing loans) from outside of their already announced watchlist accounts.” “A continuation of the increasing non-watchlist NPL trend would put negative pressure on the banks' credit profiles,” the report said. Increased non-performing loans (NPLs) from outside the watchlists of Axis Bank Ltd (Baa3 positive, baa3) and ICICI Bank Limited's (ICICI, Baa3 positive, baa3) are pressuring their credit profiles, according to analysts in Moody’s Investors Services.
The Economic Times
an hour
Software major Infosys, which saw widening differences between its promoters and board on a number of issues, has likely reached a truce on the crucial aspect of capital allocation, people familiar with the development told ET NOW. In a crucial move, the board of Infosys today recommended the adoption of new Articles of Association of the company to conform with the Companies Act of 2013 and has sought shareholder approval via postal ballot. This is seen as a precursor to a buyback, because the current Articles of Association of the company doesn't have a provision for a buyback written into it. People ET NOW spoke to further said that the promoter group, led by NR Narayana Murthy will not oppose a share buyback when it is announced by the board. The founders currently hold nearly 13% in the company and are still classified as promoters. The size of the buyback is likely to be over $2.
Money News Steet Talk
an hour
France 24
an hour
Renegotiating NAFTA will not be simple and Trudeau, a fervent supporter of free trade, has emphasised the importance of the tripartite pact for his country's economy and warned against protectionism. The economic ties between America and Canada, which share the world's longest common border, run deep: three-quarters of Canada's exports go to the US, and Canada is the top destination for exports from about 30 US states. Champagne spoke in Latvia after the Baltic state became the first European Union member to ratify the new Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU. He said he hopes "CETA will become a reference point in the world... This is the most progressive trade agreement ever negotiated by the EU or Canada." "In an age of rising protectionism and anti-trade rhetoric in the world it sets a new gold standard for progressive trade that works for everyone," he told reporters alongside Latvia's Foreign Minister Edgars Rinkevics.
The Economic Times
2 hours
Is Narendra Modi on a road to nowhere in Uttar Pradesh?BJP could lose this key state election, endangering further reforms and sapping Modi’s momentum ahead of the 2019 national elections.
The Economic Times
2 hours
Fuming Telecom panel takes Trai to task as Jio freebies cost govt a bombThis is the first time the highest decision-making body in the DoT has commented on the duration of Jio’s back-to-back promotional offers.
The Economic Times
2 hours
Who will call the shots in MumbaiSena or BJP?BJP put up its best ever show in BMC elections by bagging 81 seats, just 3 seats short of Shiv Sena. The big question is will Sena patch up with BJP.
The Economic Times
2 hours
BBC News 24
2 hours
In 2016, 20 5000 people from EU countries plus the other European countries that are members of the European economic area were granted permanent residence cards. These are not currently have two have. You automatically entitled to stay in Britain after five years if you from the EU, but I think it is a sign you from the EU, but I think it is a sign that EU citizens are you from the EU, but I think it is a sign that EU citizens are anxious about their status sign that EU citizens are anxious about their status and they want to confirm with the authorities and show that the ad entitled to be here and show that the ad entitled to be here and having a card like that will allow them to do so -- they are entitled to be allow them to do so -- they are entitled to be here.