Shahid's OTT debut, Ajith's bumper hit, and lots of romance. Sukanya Verma gives you some OTT recommendations for the week.
Its market capitalisation tops those of the 3 largest Indian firms combined
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
He is betting on emerging firms to generate ideas and build wealth through Premji Invest
US short seller Hindenburg Research has rejected Adani Group's charge that its report was an attack on India, saying a "fraud" cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, Hindenburg said it believed India was a vibrant democracy and an emerging superpower with an exciting future and it was Adani Group which was holding it back through "systematic loot". Hindenburg stood by its last week's report that said its two-year investigation found Adani Group "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Kunal Shah is one of five of India-origin to have made the cut in Goldman Sachs in the 2014 class of partners.
Air India has asked a New York court to dismiss a petition filed by Britain's Cairn Energy for seizure of its assets to enforce $1.2 billion arbitral awards against the Indian government, saying the litigation was premature as an appeal against the arbitration award was still pending. The petition by the airline, which is separate to Indian government's plea in a Washington court seeking dismissal of Cairn's lawsuit to seek confirmation of the arbitral award, said the New York district court lacks jurisdiction to adjudicate a "mere hypothetical question" or one that depends upon contingent future events that may or may not occur. Cairn first moved a court in the US District Court for the District of Columbia seeking confirmation of the arbitration award and then filed a petition in the New York court to seek declaration of Air India as "alter ego" of the Indian government and so it should be made liable to pay the $1.26 billion arbitral award.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
12 images that show the odd, odd world we live in.
Jaitley began his 10-day visit to the US on Wednesday.
Even if the Paytm fiasco does not mark the end of the bull run, at least some sanity will return to the wild IPO market, observes Debashis Basu.
Are we seeing a replay of March 2000? What are the similarities and differences and how worried should we be, asks Akash Prakash.
Will space tourism with a niche market of serving only the uber-rich ever be profitable, asks Kumar Abishek.
Costlier oil due to rising conflict in Iraq threatens to hurt the India economy that is already battling price rise and slowing growth.
The offer of $196 per share represents a premium of 49.5 per cent to LinkedIn's Friday closing price
Among the biggest winners of a successful IPO would be co-founder Evan Williams with a 12 per cent stake.
2016 is difficult to predict, and this uncertainty will drive volatility in global markets.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
Over 600 slots at three major airports - Heathrow, Dubai and New York's JFK International - could be at stake.
Even within China, economic slowdown and stiffer competition may hit growth.
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The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
In a statement just before leaving for the US, Modi said he will conclude his visit with an address at the United Nations General Assembly focusing on the pressing global challenges including the COVID-19 pandemic, the need to combat terrorism, climate change and other important issues.
India's financial hub boasts of total wealth worth $820 billion
US crude was down 25 cents at $52.08.
Rajat Gupta, 70, the first Indian managing director of McKinsey and who of 17 months in US prison for insider trading, gets ready to tell his side of the story. And he is less than complimentary about Preet Bharara, then the famous crusading US attorney for the Southern District of New York. "The jury, the press and the public saw only... a 'cropped picture', he says. For someone whose life story was a model of the Great American Dream - an Indian of modest means who rose to the highest circles of politics and business, mingling with the White House and Davos crowd - his indictment in 2012 marked a stunning fall from grace. Many ascribed it to the hubris of the rich and powerful, says Kanika Datta.
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Rupee rebounds 26 paise against dollar; snaps 2-day losses
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
He was number three in 1999 when the company was founded.
The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise.
The rupee resumed higher at 61.57 per dollar against the previous close of 61.59 and dropped immediately to 61.70 on initial dollar demand from banks and importers.
The dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up by 0.19 per cent at 95.48.
Some Manchester United fans had previously urged Musk on Twitter to consider buying the club
Manchester United is one of the most famous names in world soccer but is currently in crisis
With this subdued forecast, India is likely to record its worst growth performance since the 1991 liberalisation. However, it is among the only two major economies, which will register a positive growth rate in 2020. The other being China, for which the IMF has projected a growth rate of 1.2 per cent.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Yale University has issued a statement saying that Human Resource Development Minister Smriti Irani attended a weeklong programme and received a certificate from the university last year, along with several other lawmakers from India. George Joseph/Rediff.com reports from New York
10 photos that show it is a crazy, mad world
'The pride of the devoted Seinfeld fan is that he happens to love a show that doesn't take his love for granted, so that even on repeat viewings he is never really sure what directions an episode might take,' observes Sreehari Nair.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
They are trying to better the country's education system.
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