Week 46

Car! 🚗

June 19, 2021

Good Morning,

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

I am back! I apologize for not sending out a newsletter over the last two weeks, but life caught up with me! Fear not, Subah Kee Chai is back and in full force! Also, we are nearly reaching Subah Kee Chai's first birthday! Whaaaaat, a whole year went by? How? 

Anyways, this week, I analyzed some unfortunate events in the airline world, the rising price of vegetable oil, and covered some useful tips for people buying a new car! I hope you enjoy your Sunday! 

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Now let’s get into the news.

Markets

Markets

This week

finished in the red, after a volatile trading session on Friday amid a largely negative trend in global equities. ONGC was the top loser this week, followed by NTPC, PowerGrid, M&M, Nestle India, SBI, and HCL Tech. On the positive, HUL, Bajaj Auto, Bharti Airtel, and Bajaj Finserv were among the top gainers. According to experts, the market experienced a volatile session due to early profit-booking in midcap and smallcap stocks. Stock exchanges in Europe were largely trading with losses, while the markets in Asia were in the green. Lastly, the price of gold and crude oil ended in the red as well.   

Exports 

In the month of May, India's exports rose by 69.35% to USD 32.27 billion due to rapid growth in sectors such as engineering, petroleum products, gems, and jewellery. India's imports grew as well, rising by 73.64% to USD 38.55 billion, leaving a

for May at USD 6.28 billion. In comparison, the trade deficit in May 2020 was USD 3.15 billion.   

COVID-19

On Friday, India reported 62,480 daily new

, pushing the country's total case tally to 29,762,793. This is the 11th day in a row where the daily new cases are below the 1 lakh mark. 

Maybe...I'll miss that flight

Wind

On Wednesday, Ahmedabad airport faced a severe thunderstorm which left seven aircraft with various degrees of damage. Extremely

gushed through the airport causing non-structural damage to airlines belonging to IndiGo, SpiceJet, and GoAir. The aviation weather report for the thunderstorm reported a wind speed of 25-30 knots, but on the ground reports suggest, the wind speed was much higher. Anyone flying out of Ahmedabad, stay safe! 

Monsoon Blues

The rainy season nightmare has begun for airlines! I can't begin to imagine the stress of flying a plane when it's raining, how scary! On Tuesday, an IndiGo aircraft was forced to land back at Ranchi airport after

hit the aircraft's engine during take-off. While bird hits happen across the year, their incidence rises during monsoon. After safely landing back, the aircraft underwent the necessary inspections and the 127 passengers were accommodated on another aircraft. 

"Can I get a drink?" 

Does anyone else feel awkward when you press the "flight attendant" button on a plane, and it makes a loud "ding" noise! Maybe it's just me. Well, in the future, you may not need to press a

, and instead, you could use your smartphone to purchase in-flight items and call for assistance. Pretty cool, right? Collins Aerospace's new 'electronic cabin bag' solution is available to airlines across the globe, and airlines can choose to invest in it if they wish. While the pandemic has been a major detriment, it has also opened doors to a range of efficient, creative, and innovative solutions. A silver lining as such...  

Vegetable Oil! 

Sky High! 

When you think of food, you think of the basics, eggs, bread, pizza, pasta, burgers, chips, etc. A common ingredient in all those dishes, and a million more, is

! Without oil, food would kinda suck! Well, the price of vegetable oil is skyrocketing hitting record highs last month. India is the world's top importer of vegetable oil, and this year, the country will have to spend billions of extra dollars to buy more vegetable cooking oil, as the prices continue to rise. 

But why is the price rapidly increasing? 

The vegetable oil industry has recently experienced problems in the global production of key oilseeds used to make the oil, along with the dependency on expensive biodiesel used to fuel the production. Similarly, the price of palm oil, the most widely consumed edible oil, also increased 18% in 2020 after lockdown measures were introduced forcing a slowdown in output and trade. Moreover, poor rapeseed and sunflower seed yields in Europe and the Black Sea region further tightened the supply of edible oils, pushing the price further up. The collection of all these problems has caused the price of vegetable oil to more than double in the past year. 

In numbers, India imports 15 million tonnes of vegetable oil, and this could increase by 20 million by the year 2030. On average, India spends USD 8.5-10 billion annually on imported vegetable oils! 

Vehicle

Documents

On Thursday, the Indian Government

, for example, your driving license, registration certificate, or permits, till the 30th of September 2021. This extension was granted by the Government in view of the ongoing COVID-19 pandemic, and the restrictions and delays it has placed on the renewal of certain legal documents. 

Do you own a car? If you do, then you're an expert with the documents, but if you're a newbie like me, check out some of the documents you need when owning a car: 

(

Side Note: People that do own a car, correct me if I am wrong

:) 

1.

Driving License

: Pfff! This is obvious. 

2.

Vehicle Log Book

: the logbook records the registered keeper (usually the owner) of the car and their address. If your car is financed, then the logbook is sometimes kept with the finance company. You usually update your logbook if you move house or if you sell your car!

3.

Service Book:

Another obvious one! A service book shows when and where your car has been serviced, and what the mileage was when the work was carried out. When buying a car, if you see "full-service history" advertised with the car, it means that the car has been serviced as per the maker's requirements, hence why the value is higher! If you own a car and want to sell it in the future, it makes sense to have your car serviced on time, every time!

4.

MOT Test Certificate

: An MOT (Ministry of Transport) test is needed once a year for all cars between 3 and 40 years old. The test proves that the car is safe and roadworthy. This is definitely one of the most important documents you need when owning a car.

5.

Insurance Certificate:

Usually this isn't needed in your car, but having your insurance certificate details in your glovebox is pretty useful if you have to exchange it with another driver. Also, it is important to keep a note of the insurer's claims hotline so it's ready if you ever need it!

Well, that's the list of documents you need when owning a car! I hope the information helped :)  

Other News

1. The state of Kolkata is planning to revive a

. 

2. The Excise Department clarified that serving

at bars in hotels, clubs, and restaurants are still banned in the capital, New Delhi. 

3. Social audio app

has expanded its Clubhouse Creator First accelerator program to cover users in India. The program aims at supporting creators with the resources they need to create content. 

4. The relaxation of COVID-19 restrictions in India has instantly caused the country's

to fall.

5. Due to lockdown restrictions earlier in the year, the

industry gained popularity, with India recording over 360 million Indian gamers.  

Quiz

Quiz time! 

What common, English word has the letters "WSP", in that order, without any letters between?

Get thinking! 

See you next week!

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Quiz Answer: Newspaper (Ne'wsp'aper) 

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