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IMF Lowers India's Economic Growth, Govt Injecting INR2,000cr into PNB, Amazon in Talks To Buy Medplus et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 17, 2018 1:37 PM 2 min read
Editorial

End of Day Wrap-up (Tuesday / July 17, 2018) #IMF #India #GDP #PNB #Byjus #Amazon #Medplus #Airbus #Walmart #StarLux #Sichuan #Amazon #cloud #Microsoft  #Transfin

Editor's Comment: IMF lowers India's economic growth forecast to 7.3% in 2018, 7.5% in 2019 from previous estimates of 7.4% in 2018 and 7.8% in 2019. IMF lowers the forecast on back of high oil prices and a tight monetary policy regime. Yet, with lowered forecasts India is still predicted to be fastest growing nations in this year and next.

 

Byju’s in talks to raise over $150mn in deal that values the start-up at around $1.8bn-$2bn. Talks include two new investors in addition to existing ones for the current round. Start-up valued at $1bn previously. Existing investors include Tencent, Chan-Zuckerberg initiative, Sequoia Capital and others.

 

Govt injecting INR2,000cr into PNB to help the distressed PSB meet its debt obligations due next week. Lack of government support could have let the bank default on its obligations courtesy massive dilution of regulatory capital after the Nirav Modi scandal.  

 

Amazon in talks to buy Medplus, India’s no. 2 pharmacy chain, as they look to enter the pharma business in India. Flipkart is also in talks with online pharma companies like 1mg (based in Gurgaon) and PharmEasy (Based in Mumbai).

 

Airbus wins $9.2bn of aircraft orders from Asian carriers, StarLux Airlines and Sichuan Airlines. Taiwanese startup StarLux Airlines is said to be buying 12 A350-1000 aircrafts and 5 of the smaller A350-900. Sichaun Airlines is to buy 10 of the widebody A350-900 aircrafts. Negotiations with AirAsia for an aircraft deal worth $23bn are still ongoing.

 

Walmart and Microsoft agree on sharing Microsoft’s cloud technology, to take on Amazon. This cloud technology will be used to power functions that could include algorithms for purchasing and sales-data sharing with vendors.