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Flipkart Walmart Deal Approved, GST Council et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 5, 2018 11:52 AM 1 min read
Editorial

End of Day Wrap-up (Saturday / May 05, 2018) #Flipboard #Walmart #Softbank #TigerGlobal #SachinBansal #GST #GSTCouncil #SEBI #US #SaudiArabia #Oil #OPEC #Russia #Moodys #Fitch #Transfin

Editorial Charter: GST Council approves filing of single return per month vs. earlier requirement of three returns per month. Planned framework to take 6 months to transition.   

 

Flipkart approves deal to sell 75% of its equity stake to Walmart Inc for c. $15bn, valuing the company at $20bn. Softbank, Tiger Global, and Sachin Bansal expected to exit.  

 

SEBI proposes exemption from filing "draft letter of offer" for rights issue upto INR10cr vs. INR50L earlier. Shortens period between announcement of price band and IPO launch from 5 working days to 2 working days.

 

Credit Rating Agencies in India may face higher regulatory requirements in terms of ownership, governance etc. 

 

US jobless rate at its lowest level in 17 years at 3.9% vs. 4.1% a month earlier. Wage growth remains sluggish. 

 

Saudi Arabia plans to push crude oil prices to $80 per barrel this year, following its negotiated output cut with OPEC and Russia.