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On Slack: Venezuela Is Falling Apart, India approaches Halkbank, The Everything Bubble, RBL public issue, Heavy rains lash Kerala, Structured Products, Creative Definitions for Profitable, Arms Index


On Slack header image

#general-from the past: Why it’s best to Stay Away from Buying LIC Policies


#general: There is ‘more to do’: RBI chief Raghuram Rajan shows interest in second term

Indicating his interest in a second term as RBI governor, Raghuram Rajan said on Friday that he has enjoyed every moment of the job but there is “more to do”, despite calls from some sections of the ruling BJP against any extension for him. (Link1) (Link2)

#general-from the past: The banking elephant and the insurance whale

At the end of December, LIC’s gross NPAs as percentage of its debt portfolio stood at 4.23% compared with SBI’s 5.1%. (Link)

#macronomics: Monsoon to hit Kerala on 7 June: IMD

The onset of the southwest monsoon in Kerala marks the beginning of the June-to-September rainy season in the country. (Link)

#general: Venezuela Is Falling Apart


#macronomics: Saudi Binladin to lay off another 14,000 staff, bringing total departures to 69,000

Saudi Binladin Group has confirmed that it is working on processing final payments for about 14,000 workers that will allow them to leave the company within the next month, following on from the recent departure of about 55,000 staff.

The company, which had employed more than 200,000 staff before its recent troubles, had previously terminated the contracts of more than 35,000 employees, who “were repatriated to their home countries upon receipt of their full due payments”, a spokesman for the contractor’s parent firm, Binladin Holding Company (BHC), told The National. (Link1) (Link2) (Link3)

#general: India approaches Halkbank to handle oil payment to Iran – Fars

India has approached Turkey’s Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran’s Fars news agency quoted India’s ambassador to Tehran as saying on Saturday. (Link)

#general: 33-Year Fed Veteran: ‘The Everything Bubble’ Is About To Burst


#macronomics: China’s production, investment, retail sales all disappoint in April

China’s investment, factory output and retail sales all grew more slowly than expected in April, adding to doubts about whether the world’s second-largest economy is stabilizing.

Growth in factory output cooled to 6 percent in April, the National Bureau of Statistics (NBS) said on Saturday, disappointing analysts who expected it to rise to 6.5 percent on an annual basis after an increase of 6.8 percent the prior month. (Link)

#general: RBL Bank’s ₹1,100-crore public issue slated for July

RBL Bank (formerly Ratnakar Bank) is all set to launch its ₹1,100-crore initial public offer this July. The last public offer by a full-fledged bank was the ₹470-crore issue by Punjab and Sind Bank in December 2010. (Link)

#general: Aramco awards Hasbah gas expansion contract to L&T, others: report

Work on the expansion scheme includes building platforms and pipelines, with the field’s supply feeding the Fadhili gas plant. (Link)

#stocks: Nandini Piramal overhauls HR as group takes wing into newer territories


#general: Heavy rains lash Kerala; extensive damage in coastal areas

Authorities have given directions to evacuate people in low lying areas, where reports of houses being damaged have come in. Relief camps have also been opened to shift the affected people in these areas, they said. (Link)

#general: A tiny example on how Wall Street makes the big money: Structured Products


#general: Norway’s $850bn oil fund to sue Volkswagen


#general: Monsoon delayed by a week, to hit Kerala on 7 June

Agriculture experts say that the delay would have little impact on the sowing of the Kharif crops. (Link)

#macronomics: Brexit would prompt stock market and house price crash, says IMF

Christine Lagarde backs Bank of England governor’s claim that Britain could enter recession after vote to leave EU. (Link)

#general: Zero stars for Indian cars in latest crash tests: Global NCAP

Global NCAP crash tests the Kwid, Eeco, Celerio, Eon and the Scorpio in its second round of testing Indian cars. (Link)

#general: Narendra Modi government’s second year report card

7 charts that show how the NDA has performed in its second year in power. (Link)

#general: Tech Start-ups come up with Some Creative Definitions for ‘Profitable’

Facing a tougher fundraising environment, on-demand companies are touting financial metrics to show the health of their businesses—using whichever definition looks rosiest. (Link)

#general: IMD alert on monsoon delay will add nervousness to jittery m
arket: Experts

Investors and analysts waiting for a good monsoon outcome to turn the tides on Dalal Street were in for a rude shock on Sunday, when the latest report of the India Meteorological Department hinted at a likely delay in the onset of the Southwest monsoon over Kerala by a week. IMD now expects the rains to hit Kerala coast only on June 7. (Link)

#general: Toyota loses 7% annual sales owing to diesel ban in NCR

Toyota Kirloskar Motor on Friday said that it has received enthusiastic response to its new multipurpose vehicle Innova Crsyta. (Link)


Arms IndexLink


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