BQuick On Jan. 18: Top 10 Stories In Under 5 Minutes
People are reflected in a water feature as they walk inside the lobby of JW Marriott hotel at the Galaxy Macau casino and hotel (Photographer: Paul Yeung/Bloomberg)  

BQuick On Jan. 18: Top 10 Stories In Under 5 Minutes

Here’s a roundup of the day’s top stories in brief.

1. Like It Or Not, The ‘Bad Bank’ Idea Is Back On The Table

The Indian government has revived discussions on setting up a bad bank, to house non-performing assets, a senior Indian Banks' Association executive said on the condition of anonymity. Despite discussions, reservations against setting up a bad bank remain.

2. Adani Raises $2.5 Billion From Green Energy Stake Sale

Frech oil firm Total SE will buy 20% stake in Adani Green Energy Ltd. and half the ownership in solar assets for $2.5 billion. Total and the Adani Group had earlier entered into a partnership in 2018 when the French company acquired a 37.4% stake in Adani Gas Ltd. and a 50% stake in the Dhamra LNG project.

3. Nifty Falls 1% As Tata Stocks Drag

NSE Nifty 50 index closed at the day’s low dragged down by Tata Motors Ltd. and Tata Steel Ltd. The S&P BSE Sensex ended 1% lower at 48,564.

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4. Where LIC Parked Your Money In September Quarter

Life Insurance Corporation of India invested around Rs 50,000 crore of policyholders’ money in the September quarter. More than 70% of that went into government bonds.

5. The Long Wait To Get Your Dream Car

Auto demand is recovering but Indian automakers have failed to keep up the supply. A global shortage of microprocessors, that fuel everything electric in a car, have made ramp up difficult. Waiting periods for new cars can take as long as eight months due to such issues.

6. RBI’s Cash-Drain Signal Worries Bond Traders

Bond traders are bracing for more turmoil, as the central bank signals intentions to keep lifting money-market rates by draining excess liquidity. Worried investors will push the RBI into a delicate balancing act.

7. India’s Fuel Demand Subdued In 2021

Energy demand in India got off to a shaky start in the new year as sales of transport and cooking fuels declined from December 2020. Sales of diesel, gasoline, jet fuel and LPG all declined month-on-month.

8. High Court Says Don’t Join WhatsApp If You Don’t Want To Accept New Policy

The Delhi High Court on Monday said that accepting the updated privacy policy of WhatsApp was a voluntary option and users can just choose not to use or join the platform. The court will hear the petition challenging implementation of WhatsApp's new policy on Jan. 25.

Also read: Jan. 26 Tractor Rally: It’s A Law And Order Matter, Says Supreme Court

9. Budget 2021: India’s Pivot Point

The decisions taken in Union Budget 2021 will have long-term implications, a lot longer than policymakers believe or understand. If the right ones are made, India's economic destiny can be changed. Else, the morass continues, writes Krishna Memani.

10. China’s Growth Beats Estimates

China’s economy roared back to pre-pandemic growth rates in the fourth quarter as its industrial engines fired up to meet surging demand for exports. Gross domestic product climbed 6.5% in the final quarter from a year earlier, pushing growth to 2.3% for the full year.

Also read: Oil Near $52 on Still-Surging Virus and Stronger Dollar

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