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Shivinder Takes Back Petition Against Malvinder, Patanjali Expands Product Offerings et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Sep 13, 2018 1:02 PM 2 min read
Editorial

 

Good evening readers,

 

We're feeling remarkable, unmatched, breathtaking, gorgeous, beautiful, amazing, and many more things! Obviously in a mood for superlatives today ;) After all the Apple Event was on last night.

 

The product line-up this time, as expected, was incremental. Bigger iPhone and a bigger Apple Watch which can now do an ECG (diagnostic angle in future?). Interesting to see the company customize its offering for China, allowing 2 physical SIM slots for iPhones there vs dual eSIM for rest of the world. Recommend reading this article by Bloomberg which came out today morning. India still doesn't appear much on the map. Perhaps at $1,099 a piece, no wonder.

 

That being said, events by the world's most valuable company form a lesson in slick and gorgeous (heartfelt this time) presentation. Though must confess we miss Steve Jobs' one man show vs. the much more 'democratic' style of Tim Cook.

 

INDIA

 

Shivinder Singh withdraws NCLT petition against Malvinder Singh

The withdrawal comes after the family intervened and wants an out of court settlement. Sources close to Shivinder Singh have said that this is a temporary withdrawal and if matters are not solved out of court, a stronger case will be filed against Malvinder Singh and ex-MD, RHC Holdings Sunil Godhwani.

 

Govt incentivizes production of ethanol from sugarcane

The Government to provide a higher rate to those who extract 100% ethanol from sugarcane, instead of sugar from sugarcane on back of sugar surplus in the country.

 

Patanjali to sell dairy products like cow milk, cheese etc and French fries, packaged drinking water

Ramdev-led Patanjali to now sell dairy products like cow milk, cheese, buttermilk, flavored milk, curd and French fries, packaged drinking water and as it targets INR1000cr of revenue from these additional products.

 

PNB places on sale 21 NPAs to recover INR1,320cr

The Stressed Assets Targeted Resolution Action (SASTRA) Division of the PNB has placed these NPAs on sale to ARCs/NBFCs/other banks/Financial Institutions to recover INR1,320cr. PNB has already recovered INR7,700cr in the first quarter of FY2018-19

 

US/ International

 

US proposes fresh round of trade talks with China.

US proposes fresh round of trade talks with China, shortly after US President Donald Trump last week announced that a set of new tariffs on $200 bn of Chinese goods could go into effect soon. The decision comes following steady pressure on Trump to ease up the ongoing trade war and US faces stern retaliation against its exports.

 

Turkish President Erdogan bans domestic sales and rental transactions in foreign currencies to protect Turkish Lira

Turkish President Erdogan is also against increase in interest rates by the Central Bank. In the latest decree published by Erdogan also stated that deals and contracts priced or indexed to foreign currencies have to be converted to lira within 30 days at rates to be agreed on between parties. 

 

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