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Amazon to Save Data in India, China Slows Down et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Aug 14, 2018 2:56 PM 2 min read
Editorial

Amazon to Save Data in India, China Slows Down et al.

Editor's Comment: Government asks Amazon to set up servers in India to protect consumer's personal data. India is currently developing a data protection framework based on recommendations from Justice B N Srikrishna-led committee. Government also in talks with Google, Facebook and WhatsApp on this issue.

 

RIL and BP Plc will produce atleast 10% of India’s total gas demand by 2022 from the Krishna-Godavari basin, as per BP's India head.

 

1,662 URLs blocked in India by social media platforms such as Facebook and Twitter to cut down fake news circulation. Facebook blocked 58% of these 1662 URLs, Twitter blocked 25% and YouTube blocked 9%; under section 69A of Information Technology (IT) Act, 2000.

 

CCI approves Adani Wilmar’s INR6,000cr bid to acquire Ruchi Soya. Ruchi Soya was admitted under the corporate insolvency resolution process of the Insolvency  and Bankruptcy Code in December last year.

 

Chinese economy slows down, on the back of a two-decade low in fixed asset investments. Fixed asset investments expanded below expectations of 5.5% in January-July. Industrial output was also muted on back of pollution curbs and an uncertain trade outlook.

 

Elon Musk says Saudi Arabia’s sovereign wealth fund has approached him for taking Tesla private. The fund already owns 5% in Tesla and as per Musk approached several times in the past two years with an offer.