Biztro

Business in bitesizes
Biztro
outlookindia.com
2016-07-20T16:53:22+0530
India’s top thinker cell

Niti Aayog is never far from action. Last week we learnt that it was close to taking on the airs of an event management company. It will hire a creative agency to conduct 48 events every year and will execute a marketing and communications plan. All this is coming no doubt from Aayog CEO Amitabh Kant, who seems to be all over town, attending conferences, being part of the jury at Economic Times’ startup awards (surely raising some conflict of interest issues for a public servant). No wonder, last year ET awarded him the ‘policy change agent’ award.

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The Approaching Storm

The Provident Fund office can invest up to 15 per cent of its surplus in equity but it has ventured out gingerly. Five per cent was set afloat last year and now there’s talk of 7, 8 or 9 per cent. Discussions are due next week. Unions will oppose while the government will get busy reframing the risks of going to market as ‘a simple matter of choice’. The EPFO needs to build a sizeable corpus. For, in some years, pensions will be due to its account holders and the government will need to make good. If one is to judge by Bangalore’s angry textile workers, the third week of July will be tough going for the government.

Why is Diageo after Mallya?

The law is finally catching up with liquor baron Vijay Mallya. Now Diageo—to whom Mallya sold United Spirits—has turned around and is said to have found improper transactions worth over Rs 1,200 crore in United Spirits’ books. The company is now seeking not only to reduce the $75 million severance it agreed to pay Mallya but is also filing a complaint of criminal breach. Till now the UK has refused to extradite Mallya who is in London where Indian laws cannot touch him. Thanks to this development, he may be tried for irregularities under UK laws as Diageo is a British company. The question is: did the Indian government’s pressure force Diageo CEO Diageo Ivan Menezes to search for irregularities?

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Mojo

Tesla’s new Masterplan

After the recent crash, Tesla CEO Elon Musk tweeted he is working on a “top secret Tesla masterplan”. This has generated a lot of hype as the last time Musk announced a masterplan, Tesla came out with the Model S and Tesla 3.

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Math

25% of India’s messaging app users use Japanese app Line

Sunny Leone’s investment mantra

  • Invest in stocks, MFs, real estate and retirement funds in the US
  • Save a lot of money; wear gold rather than invest in it
  • Seek help from people you trust to manage portfolio
  • Lost money post-Brexit meltdown, but believes markets will recover

Source: MINT

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Mind

This week we learnt about The blind currency trader

In 2004, Vishal Agrawal was diagnosed with a degenerative eye disease. Four years later, he was completely blind. Today, the 29-year-old is a forex trader with Standard Chartered Bank. Agarwal uses a speech recognition software on his trading terminal. His boss, Gopalakrishnan M.S., told Bloomberg, which did a detailed profile on the forex trader, that Agar­wal is doing extremely well and handles trades that do not require checking of detailed charts.  Three years at the job, and Mumbai-based Agarwal now travels the world attending conferences. His investor hero is George Soros..

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