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    Chief Economic Advisor Arvind Subramanian Resigns et al.

    Professor of Financial Economics and Part-time Value Investor, Transfin.
    Jun 20, 2018 12:59 PM 2 min read

    End of Day Wrap-up (Wednesday / June 20, 2018) #CEA #ArvindSubramanian #Blackstone #IPO #Xiaomi #Paypal #Hyperwallet #cryptocurrency #Ripple #Bitcoin #Ethereum #SouthKorea #Transfin

    Editor's Comment: Chief Economic Advisor Arvind Subramanian resigns due to personal reasons, will move to US. Subramanian took charge as the CEA on October 16, 2014 for a period of three years. In 2017, his term was extended for a year.

     

    Blackstone and local partner Embassy Group plan to file a prospectus for an initial public offering of the real estate investment trust as early as next month, a deal that may raise as much as $1 billion. However, with the recent rate hike by the RBI, Investors may demand yields as high as 15% to subscribe to the Blackstone offer.

     

    China's Xiaomi valuation lowered between $55bn-70bn following its decision to delay its mainland share ahead of $6.1bn out of upcoming Hong Kong IPO. The delay was triggered by a dispute between the company and regulators over the valuation of its China depositary receipts casting doubt on Beijing's efforts to lure foreign-listed Chinese tech giants back home. 

     

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    Cryptocurrencies stumble as South Korean cryptocurrency exchange Bithumb reported theft of c. $32m worth of virtual coins.