Week 14

Relations👐

October 10, 2020

Good Morning,

Welcome! I hope you have your “Subah Kee Chai” ready and you're excited to read your weekly 10-minute digest. 

Today's newsletter includes my monthly recommendations! Check them out, and share your top movies, music, and books with me in your feedback. The news covers a mix of successful and failing partnerships and also covers a few hot stories on the Indian economy. Lastly, the markets this week performed incredibly, green!

I hope you enjoy today's newsletter,

Now let’s get into the news.

Markets

Markets

Both equity markets finished in the green as the markets continued to surge for the seventh day straight. BSE Index zoomed 0.81% to close at 40,578.91 on Friday, and NSE Nifty rose 0.67% to settle at 11,935.65. ICICI Bank, Axis Bank, SBI, ONGC and L&T were among the top gainers at the end of the trading week, with minimal losers. A good future plan for India's GDP and newly announced liquidity measures encouraged a strong market performance. 

COVID-19

India's COVID-19 curve continues to offer positive results as the number of active cases dropped below 9 lakh on Thursday, extending a daily decline in case numbers for three continuous weeks.  

Partners

The Healthy Relationship 

On Monday,

stated that it has partnered with SatSure to promote satelitte-based crop monitoring and predictive analysis to improve risk management and efficiency. This investment will help Reliance address the key areas of crop health, soil moisture, crop sown area, crop yield estimation, etc. 

In more news, Walmart-owned

partnered with fintech major Paytm to provide customers offers and benefits during its festive season sale. It will allow Paytm users to swiftly pay through Paytm Wallet and Paytm UPI while shopping on Flipkart. Flipkart will host its annual "The Big Billion Days' sale" from October 16th to the 21st. E-commerce businesses sees a large surge during the festive season and as a result ramp up their capacities to be able to handle the spike in demand. Electronics, fashion, and home furnishing are some of the categories that experience a large demand. 

The Cheating Husband

Mukesh Ambani's

called off the proposed merger between Ambani's entertainment business Viacom18 Media Pvt Ltd and Sony Picture Networks India. The merger would have resulted in the Japanese giant Sony with a larger share. After a lengthy rethink, Reliance industries called off the merger, as the Indian monopoly wants to retain management control over the digital operations and invest in creating India's No.1 OTT (Over-the-top) destination and develop a broadcast platform.

Furthermore, Indian ride-hailing company

was stripped of its license in London, by the Public Transport Authority. The ban comes after multiple taxis were caught violating COVID-19 lockdown rules. In addition, the PTA discovered a number of reported failures in the Ola app, putting a number of passenger's safety at risk. 

The Nation

Mukesh Ambani for PM? 

On Monday,

pitched for the Indian Government to implement new regulations to protect data and ensure data privacy as nations will increasingly compete on digital capital in the future. This speech came from the RAISE 2020 Summit, in which Ambani pushed India to become a world leader in Artificial Intelligence (AI) and to make it accessible to all Indians.

Eye-opener:

Is India ready to take on such an advanced form of technology and accept AI into our daily lives? Is the world progressing quicker than it is supposed to? What do you think? 

Bank

On Thursday, the Finance Ministry said that banks have sanctioned

to approximately 50.7 lakh businesses across India under the Emergency Credit Line Guarantee Scheme (ECLGS). This program was created to assist small and medium enterprises that were impacted due to the slowdown resulting out of COVID-19. 

In other news, Finance Minister Nirmala Sitharaman said that INR 20,000 crore

will be disbursed to all the states in India to cover the revenue losses experienced due to COVID-19. The government will also extend a surcharge on taxes on luxury gods including cars and tobacco till 2022, as a method to help states repay loans being disbursed presently. 

Sports 

Delhi Capitals are looking strong as they sit two points clear at the top of table with the Mumbai Indians sitting right behind them. King XI Punjab and Rajasthan Royals sit at the bottom of the table. 6 games in, this is how the IPL table is looking!  

Monthly Recommendations

Another month, another monthly round-up of books, movies and music recommendations! This is the list of my monthly entertainment.

Books

1. East West Street by Phillipe Sands 

2. Going deep by Julia Ebnar 

3. The Influential Mind by Tali Sharot 

Movies/Documentaries 

1. Bad Boy Billionaires on Netflix

2. The Social Dilemma on Netflix

3. Enola Holmes on Netflix 

4. The Price of Protest on Amazon Prime Video

Music 

1. EDNA by Headie One (Album) 

2. Bayside by Obskur 

3. Dead Wrong by Shinobi ft Biggie Smalls on Youtube

4. Chanel by Frank Ocean 

5. So High by Sidhu Moose Wala 

6. Seve (Radio Edit) by Tea Cadey 

7. Power Trip by J.Cole ft Miguel 

Other News

1. On Monday,

announced that flights between Delhi/Mumbai to London Heathrow will commence in December 2020. This makes SpiceJet the first Indian budget airline to fly to the UK under the current air bubble arrangement. 

2.

is hosting a virtual event on October 13th, with many people speculating the release of the new IPhone 12. 

3.

company Joyville is said to invest INR 1200 crore into a new housing project in Pune, Maharashtra. 

4.

, a group powered by the MRF Group, recieved a certification by the BIS (Bureau of Indian Standards for Safety) for electric toys. 

5. On Thursday, IT Services company

completed the acquisition of Blue Acorn iCi, a digital customer experience provider, for a deal worth INR 915 crore.  

Quiz

The following are anagrams of countries. Can you decipher all of them?

1. Glib Emu

2. Neat Grain

3. Age Lens

4. Dark Men

5. Serial

Get thinking!

See you next week!

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See you next week!

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Quiz Answer: 1. Belgium 2. Argentina3. Senegal 4. Denmark 5. Israel 

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Written by: Adnan Bahrainwala (Founder of Subah Kee Chai)