Wondering if you are up to speed with topics that are likely to pop up at your upcoming dinner meet? Here is an overview of what’s trending in economy and finance this week:
When someone talks about Aadhar, you can tell them it’s linking has been postponed once again:
Earlier this year, the Government had set 31st March 2018 as the deadline to link Aadhaar to your PAN card, your bank account and your mobile number. But now, they’re almost certainly going to extend the Aadhaar linking deadline yet again!
Read about how to link your Aadhaar card to the various services.
When someone talks about clothes, tell them Indian exports in this segment are declining:
In 2017, India’s apparel exports were expected to grow by 6-20% because of increased business with places like USA and Europe. Surprisingly, the industry saw a rare decline instead. A possible explanation for this are the free-trade agreements of countries with Europe and the US, the effect of GST in India and the lack of export incentives from the government.
When someone talks about stock markets, tell them thanks to the PNB fraud bank stocks are on the decline:
Following the Punjab National Bank-Nirav Modi scam, as many as 31 private and public sector banks are being investigated for providing loans to Nirav Modi and associated company Geetanjali Gems. With their profits on a downward turn, stock market indices Sensex & Nifty also fell. Fearing a further decline, people sold off shares worth Rs. 2 trillion!
When someone talks about Lego, tell them about their fall in profits:
After reporting steady profits for 13 years, toymaker Lego’s business bricks are falling! After manufacturing a bunch of extra products that went unsold, Lego was forced to ‘let go’ of them at cheaper prices, cutting into their margins. Lego has been criticised for over-diversifying into business like entertainment (remember ‘The Lego Movie’?) rather than focusing on it’s core business. CEO Niels Christiansen announced that it might take “some time” for the business to bounce back from this fall.
When someone talks about the infamous Harvey Weinstein, tell them about his almost bankrupt company:
The once-glorious Weinstein Company – producers of Silver Linings Playbook and The Imitation Game – is now on the verge of bankruptcy. In October 2017, after dozens of women accused Harvey Weinstein of sexual misconduct, he was forced to sell his crumbling studio. American businesswoman Maria Contreras-Sweet bid $275 million for the firm, but this week she has withdrawn it. Why? Because The Weinstein Company’s debt is $280mn, and not the $225mn it reported.
Now that you know these topics, the next time someone mentions them you know what to say. If there are any such topics spoken about at a party that have made you feel out of the loop, write to us at firstname.lastname@example.org and we will cover it in our next edition.