Miscellany

Miscellany

Our social fabric has to change

The megastar was birthed in the turbulence of the mid seventies when black marketing, smuggling, hoarding and systemic corruption was all pervasive. The dark days of Emergency were upon us as deadly dangerous acronyms — COFEPOSA, SITA and MISA — were instrumentalities of autocracy and fascism. Writer duo Salim Javed sensing the mood of the indignant nation wrote the words to be powered by a tall, feisty star with a baritone to take on the corrupt as an angry young man who deeply embedded himself in the nation’s psyche.

Axis Bank warrants no downgrading, says S&P

S&P Global Ratings on Thursday said the poor show of Axis Bank over build up of NPAs in the last fiscal does not prompt any downgrading of its current rating of 'BBB-/A-3' as it sees a turnaround in the private sector bank's financial results over the next two years.

S&P downgrades Airtel outlook to negative

S&P Global Ratings on Thursday revised its rating outlook on Bharti Airtel to negative from stable reflecting a  possibility that it may downgrade Bharti over the next 12-18 months if its business performance does not improve in line with the rating agency's  expectations or if deleveraging does not materialise, and the ratio of FFO (Funds from Operations) to debt remains below 20 per cent.

Neeraj Arora could be next Indian CEO of global tech firm

Indian boy Neeraj Arora may replace Jan Koum who just quit as CEO of WhatsApp Inc after clashing with parent company Facebook over personal data and privacy issues.

Neeraj Arora is currently head of All Things Business at WhatsApp and based in San Francisco Bay Area. Aurora an alumnus of Indian Institute of Technology, Delhi previously worked with Paytm, Google and Times Internet.

Maruti gains big as auto sector starts FY19 on a mixed note

Automobile majors Maruti Suzuki, Hyundai, Mahindra, and Tata Motors began the new fiscal on a positive note, posting good domestic passenger vehicle sales growth in April in Asia’s third biggest car mart. However, Toyota-Kirloskar and Ford reports sales decline. Others did not share data till going to the press.

Fitch quotes Tagore to say ‘it’s all about implementation’

Finance ministry mandarins have been pitching for a rating upgrade citing various factors. But on Monday they got rather a rudimentary lesson from Fitch Ratings — You can’t cross the sea merely by standing and staring at the water.

Thomas Rookmaaker, Fitch Ratings director for Asia Pacific sovereign ratings, quoted Rabindranath Tagore to remind the government that substantial action on the ground is missing for a rating upgrade.

UAE no more the largest buyer of Indian gems and jewellery

After being the largest buyer of Indian gems and jewellery for the past eight years, United Arab Emirates (UAE) slipped to the second position last fiscal after it rolled out VAT for imported goods and the Indian government introduced checks on possible round-tripping in exports.

The share of gems and jewellery that were shipped to UAE slipped to 25 per cent in FY18 from 32 per cent in FY17. Meanwhile, Hong Kong inched up its share from 30 per cent in FY17 to 33 per cent in FY18. Among the three major export destinations, US’ share remained stable at 23 per cent.

Aamir Khan scripts real life water story

Bollywood superstar Aamir Khan is making waves again after taking on the challenge for water conservation to fight the drought in Maharashtra.

The 53-year-old actor is enrolling college students from Pune, Mumbai, Nashik, Nagpur and other cities to become jalmitras and join his initiative, ‘shramdaan’ (volunteer work offering) to carry out watershed management work being executed in the remote perennial drought-prone villages of Maharashtra.

British Indian entrepreneur Sanjay Gupta buys Diamond Bank’s UK arm

British Indian entrepreneur Sanjeev Gupta on Thursday strike a deal with Nigeria’s Diamond Bank to acquire its UK-regulated banking subsidiary, Diamond Bank (UK). The new bank, which, upon change of control, is intended to be renamed British Commonwealth Trade Bank (BCTB) to address gaps for trade in developing economies, particularly within the Commonwealth. 

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