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PM Launches India Post Payments Bank, China to Limit Videogame Releases et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Sep 1, 2018 12:03 PM 2 min read
Editorial

End of Day Wrap-up (Saturday/ Sept 1, 2018) #PM #Modi #IndiaPostPaymentsBank #IPPB #India #fiscaldeficit #Google #Mastercard #FordMotor #US #China #Transfin

Editor's Comment: PM launches India Post Payments Bank (IPPB) today. IPPB to offer savings and current account products, DBT, money transfer, utility payments etc. through its 150,000 plus post office branches. Network when fully live would be 2.5x size of the country's bank network.

 

India's fiscal deficit hits 86.5% of budgeted estimate, lower than 92.4% as in same month last year. As per Budget, the government expects a 16.7% rise in gross tax revenue as at FY19.

 

Google and Mastercard reportedly entered a business partnership some time back allowing Google to track conversion of online ads into offline purchase decisions. Alliance to give Google a significant asset for measuring retail spending, and strengthen its primary business against Amazon etc.

 

Ford Motor cancels plan to import its compact vehicle from China to the US due to expected import tariff hits. Initial plan was to commence shipping from second half of 2019. The company to instead discontinue the Focus model for US market after finishing sale of current supply. 

 

China to limit videogame releases and set new restrictions on play time for youth. Mechanism to regulate the total number of online games, control the number of new online games operating, explore the age-appropriate reminder system in line with national conditions and take measures to limit the use time of minors, to be implemented. Gaming giant Tencent's market capitalisation drops by $20bn on Friday.