Dec 23, 2016 - The monetary policy committee's realistic currency swap assessment

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Sree Vijaykumar From the Editor's Desk If you ever wondered what Wall Street holiday parties were like, here you go. Parties thrown by PIMCO in London and Credit Suisse in Poland, where the bank has one of its largest back office operations, this year each had Great Gatsby themes, recalling the 1920s era of decadence and social change. PIMCO's featured a "flash mob" of dancers from a company called Brazilian Fantasy, while Credit Suisse's was full of young men and women in "Roaring 20s" garb. The dance floor at Credit Suisse's party was backed by a digital image of actor Leonardo DiCaprio holding a cocktail while portraying Jay Gatsby. PIMCO's other holiday party near its Newport Beach headquarters featured women in bedazzled snow-white angel costumes whose wings glowed with LED lights. Private equity firm Apollo's party, hosted in a Greek restaurant near Central Park, featured "live statues": humans standing completely still, painted to look like marble. They evoked images of Greek gods such as Adonis, Aphrodite - and, of course, Apollo. AQR Capital, the hedge fund firm run by Cliff Asness, had a carnival-themed bash at luxury Manhattan event venue Cipriani. One attendee's photo showed champagne being poured into a glass through a poof of nitrogen steam, and carried the caption: "Snakes, clouds, swords, oh my!" More here Advertisers of the day The Economist: Subscribe now and get a Hidesign passport wallet free Ingram Micro Cloud: Streamline your creative process and secure your digital assets with Dropbox Business   Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). The monetary policy committee’s realistic currency swap assessment Forecasts about the economic effects of an exogenous shock are tricky affairs Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. The Real Deal with Email and What TradeBriefs does right So, here How India lobbied Moody's for a ratings upgrade, but failed India criticised Moody's ratings methods and pushed aggressively for an upgrade, documents reviewed by Reuters show, but the US-based agency declined to budge citing concerns over the country's debt levels and fragile banks. Demonetisation: Was RBI given enough time to discuss note ban, Manmohan Singh asks House panel He also suggested that the panel — which is looking into the demonetisation decision — call government officials to depose before it hears RBI Governor Urjit Patel. Mistry’s last meeting as boss was on Tata Sons divestment plans Cyrus Mistry’s business plan for Tata Group, which he presented at the 15 September board meeting, didn’t go down well with a few Tata Sons directors Blackstone Group to sell stake in Sonalika tractors for Rs1,700 crore Blackstone Group will sell its 17.75% stake in International Tractors, the owner of Sonalika tractors, to Japan’s Yanmar, valuing the firm at Rs9,500 crore Yanmar buys Blackstone's 18% stake in International Tractors Yanmar will acquire shares held by the world's biggest private equity fund, Blackstone Group, which will make a rough three times return on a four-year-old investment. State-run banks saw a big drop in retail loan demand after note ban After demonetisation on 8 November, daily enquiries for retail loans at govt banks dipped to 23,660 in the rest of the month, compared to 46,784 in the first eight days PayPal to buy minority stake in Freecharge The PayPal-Freecharge deal may see a 25% stake sale for around $200 million India may not meet 2020 export target; policy review ahead The review, aimed at taking corrective steps by assessing the impact of export sops on various sectors, will begin soon. Dealmaking in 2016 Dealmaking in 2016 has largely been about big-ticket announcements. One can look at the following key trends that shaped the industry Indian banks may raise $30 billion via bonds by March 2019: Report The report said banks need around USD 90 billion in extra capital by March 2019 to support credit growth and meet steadily increasing regulatory requirements. Suzlon to sell 49% stake in solar project to Canadian firm AMP Solar AMP Solar will have an option to acquire the remaining 51% stake in Rudra Solarfarms Jaspal Bindra, Chandir Gidwani hike holding in Centrum Capital Bindra and Gidwani, through their investment firm JBCG Advisory Services acquired 19.5 million equity shares at a price of Rs25 through open market Welspun Enterprises to buy back shares worth Rs227 crore Welspun Enterprises is going to buyback shares at Rs62 apiece to enhance shareholder value, but the move is subject to their approval Wealthy investors lead in Reliance Home Fin bond subscription As per the combined data of BSE and NSE, the issue size was oversubscribed 3.01 times at the end of bidding at 1700 hrs today, generating demand worth Rs 3,012.91 crore. Bitcoin’s total value hits record high above $14 billion The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014 From eradicating black money to cashless economy: PM Modi's changing narrative since demonetisation The primary narrative of the 'historic' demonetisation move had been projected as a war to root out the menace of black money, corruption and counterfeit currency. How a nascent digital industry generated $1.5 billion of employee wealth in 5 yrs There hasn't been a better time for employees to choose between multinationals' restricted stock units (RSU) and the promise of India's digital companies. Amazon steps on the gas while rivals run out of steam Flipkart Pvt Ltd, the Singapore-based holding company of India’s largest e-commerce marketplace, reported a wider loss for 2015-16 as it spent more to hold off Snapdeal will now deliver cash to your home, but only if you live in Bangalore or Gurgaon Putting a new spin on the words “cash on delivery”, Snapdeal has announced that it will deliver cash to your doorstep via its Cash@Home service. Amazon India chief says it's too early to think of turning profitable in India Amazon is said to be burning about $1 billion annually on the back of services like the recently launched subscription platform Prime, huge marketing and advertising expenditure, and delivery and supply chain costs Currency ban forces retailers to advance seasonal sales Hindustan Times Others like Shoppers Stop may also prepone their sales, said industry sources. Many retailers saw their business fall around 20-30% in the weeks after demonetisation as customers postponed non-essential purchases amid a cash crunch, sources said. Stores face losses with frequent transaction failures in PoS machines Though stores are willing to accept payments through other cashless modes like cheques, internet banking, e-wallets and even providing credit, customers are still facing an inconvenience. Telenor India CMO Vivek Sood quits Sood served as CEO of Telenor India from January 2015 till November 2015 after which he was elevated to the position of Executive VP of Telenor group. Deal Street: M A moves that made waves in 2016 According to a Grant Thornton report, deals worth USD 45.8 billion were struck during January-October... Google rolls out high-speed Wi-Fi to 100th railway station in India Google has announced the roll out of its Railwire high-speed Wi-Fi at Udhagamandalam (Ooty) station These Simple Tricks Make Your Phone Safer to Drive With Image: GoogleIt's a sobering thought that distracted driving is estimated to kill 8 people and injure over 1,000 every day in the United States. Many of those Cisco India launches initiative to offer cybersecurity solutions in India Under the agreement, Cisco and CERT-In will establish a threat intelligence sharing program. HC refrains from interefering with TRAI penalty recommendation The Delhi High Court on Thursday issued a notice of impleadment to the Ministry of Communication and Information Technology, on a petition moved earlier by Vodafone Mobile Services Ltd. challenging a Telecom Regulatory Authority of India (TRAI) Vodafone launches its SuperNet 4G service in Odisha Vodafone launches 4G service in Odisha Reliance Jio SIM cards could soon work with 3G smartphones: Report Reliance Jio was rumored to be coming up with a custom application which would make Jio SIM compatible to 3G handsets. Quashing all such rumors, the t.. Feature Phones: The unsung heroes of consumer electronics are still alive and kicking in India, says study Feature phones are here to stay, and any assumptions of their disappearance or lack of relevance are premature, at least for now. Cabinet approves cadre review of Indian Telecommunications service, group 'A' The Cabinet on Wednesday approved the Cadre Review of Indian Telecommunications Service, Group A'. Honor India to Launch Affordable 'Swag Phone' With Dual Rear Cameras Soon Honor is likely preview a mid-tier smartphone with dual cameras in India on December 23. Asus Tips Launch of 2 Phones at 'Zennovation' Pre-CES 2017 Event on January 4 The event is scheduled for a January 4, 2017. Radiation from mobile towers not harmful: TRAI “Do not have unreasonable fears on radiations from mobile towers" Millions of Android phones, including from Lenovo, caught using Chinese spyware The list of manufacturers using ADUPS software is full of small phone makers - most of them don't sell phones here in India - it also has the more familiar names of Lenovo, Gionee and ZTE. Bombay High Court admits Hershey’s winding up petition against Lokmangal Sugar ​​Solapur based Lokmangal Sugar & Ethanol had entered into an agreement with the Indian unit of Hershey Company last year to supply sugar, assuring them that their requirement will be kept separately. Dettol maker Reckitt Benckiser rides on Swachh Bharat, posts handsome growth of 14% The maker of Dettol soap and Lizol is split into two entities in India – RB India Ltd and RB Healthcare under which all Paras brands are integrated. Both firms of the UK giant posted combined sales of Rs 5,606 crore during FY15-16, compared to Rs 4,929 crore a year ago. The performance is a turnaround for RB, which posted 6% growth in FY15. Amazon.in expands grocery, household service to 6 more cities Amazon.in today announced the expansion of its grocery and household service Amazon Pantry to six more cities across the country, covering Delhi, Faridabad, Gurgaon, Mumbai, Mysuru and Pune. Alibaba urged to take exporters online According to industry experts, climatic changes and fast moving fashion trends have made buying patterns unpredictable. Walt Disney to restructure India operations Under Samat, the company has been working towards the new lean structure, more aligned to the international organisational set-up. Disney India will now focus on its core strengths – Hollywood films and consumer products business. Exodus at Reliance Jio continues, Fixed-Line President Vijay Jain quits At Jio, Jain was looking after the roll out of Fiber-to-the-Home (FTTH) that will complement the largest LTE rollout in India. 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