1. Coal Scam Remains Red Hot
Even as the government prepares to auction 204 coal mines in phases, many of the officers connected with the allocation process in the previous government are facing the heat. This includes former prime minister Manmohan Singh, who was holding the coal portfolio when it agreed to make the Aditya Birla Group part of the joint allocation. Already, crores of unaccounted money has tumbled out of the Aditya Birla Group’s office in the capital. A “nervous” Kumaramangalam Birla is relying on a smooth-talking lobbyist to present his case in Delhi. The problem: it is not just the allocation that is being questioned, but also the diversion of coal to an existing (and not new) power plant.
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2. Mumbai Gets A Second Chance?
Mumbai could soon have a bonanza in land if the recommendations of a committee to work out redevelopment of the 1,800 acres belonging to the Mumbai Port Trust are implemented. The gains could be for public, residential, tourism and commercial interests as well as for development of the eastern waterfront, which could give Mumbai several Marine Drives. The committee has recommended a 60:40 system, under which 60 per cent of the land would be used for public open spaces, while the remaining 40 per cent would be for commercial and residential use. Of course, a decade ago, big plans were made for 600 acres belonging to textile mills that were no longer functioning, but commercial interests won in the end.
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3. Saudi Billionaire Speaks Up On Modi
There have been growing murmurs about the BJP’s lackadaisical approach to the West Asia region, fuelled by the absence of a visit to the region by Narendra Modi and the government’s open engagement with Israel. In a recent interview, Saudi billionaire investor Prince Alwaleed Bin Talal sends out a business-as-usual message. “Actually, no one knows about the incident (post-Godhra riots) in West Asia and, to be honest, nobody discussed it in Arab meetings. So, for those who know about it, the matter is dead. And for those who don’t know anything about it, let’s keep it in the grave,” he told Outlook Business.
Math
$1.5 trillion Wealth of the world’s 50 richest people, equivalent to 175% of Indonesia’s GDP, or a little more than Japan’s foreign-exchange reserves.
26% of customers calling US cable TV companies requesting “Internet only” services.
The 10 fattest countries in the world
Warning of a massive public health crisis, a new study by Lancet blames desk and computer jobs
$14 billion Value of the India-born Hinduja brothers, the only British names on the list of the world’s top 80 billionaires.
Mojo
Rampant drug abuse in Silicon Valley
Given the intense dog-eat-dog competition at Silicon Valley, entrepreneurs are trying to stay afloat with the help of smart drugs. These prescribed drugs are supposedly meant to enhance one’s brain and improve the body’s performance, allowing one to achieve much more than usual in a short span of time.
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Mind
This week we learnt about…how the Economist chose its editor
Zanny Milton Beddoes is the first woman editor-in-chief of the venerable Economist, which is 171 years old. There was an interesting process to select her. Hopefuls were asked to write an e-mail to the current board chairman, Rupert Pennant-Rea. Then, an all-staff e-mail went out containing the full list of candidates. Surprisingly, it wasn’t leaked. The candidates sent in memos; they were then interviewed. One candidate, Gideon Lichfield, writes in Quartz: “To celebrate our last moment as equals in rivalry, the candidates went for lunch in Chinatown, where we squeezed around a single table at a dim sum joint...”