"Trump's victory is not good for the world markets"
- Jim Rogers, Chairman, Rogers Holdings, ace investor and author, on US Presidential results.
Adding Muscle
Sachin Bansal, co-founder and Executive Chairman of Flipkart, is in talks with many Indian entrepreneurs and investors to create a group that would represent the interests of Indian Internet start-ups and lobby with the government for favourable laws.
Lenders Cut Rates
After the RBI cut key policy rates, SBI, ICICI Bank, HDFC Bank and Kotak Mahindra Bank have cut home loan interest rates by up to 15 basis points to prop up their lending portfolios, which have growing slowly in 2016/17.
Kid States Lead
Andhra Pradesh and Telangana topped the ease of doing business rankings among Indian states, according to the World Bank and Department of Industrial Policy and Promotion report, while Gujarat dropped to No. 3. Uttarakhand was at No. 9 from No. 23 last year, while Maharashtra slipped from No.8 to 10.
Indo-UK Initiative
During British Prime Minister Theresa May's visit to New Delhi, India and the UK agreed to form a joint working group on trade for a new economic partnership between the two countries in the backdrop of the UKs exit from the European Union.
Rs 4.94 lakh crore, the value of the mutual fund equity portfolio in listed firms at the end of September, compared to LIC's Rs 4.75 lakh crore, says Prime Database. For the first time the 44-AMC strong industry pipped the state-run insurer.
170 years, women will have to wait to get equal share of pay cheques in comparison with men, says a report published by the World Economic Forum.
Softbank Goes Hard
Japan's SoftBank Group has written down 58.1 billion yen, or approximately, $555 million, in two of its biggest investments in India - cab-hailing firm Ola and e-commerce marketplace Snapdeal. The decision comes at a time when both companies are looking to raise fresh funds to counter growing competition in their respective sectors.