August 1, 2020 Dose 26

The Capsule

Eid Mubarak! Apple crossed Saudi Aramco as the world’s most valuable company… And guess what? We have an Apple employee speaking to us this Sunday on Instagram live - make sure to tune in!

TOP STORIES

The government will regulate TV imports to incentivize local production

Suspension of scheduled international flights extended till August 31

Fiscal deficit hits record high of ₹6.62 trillion ($88.5 billion)

Digging Deeper: A fiscal deficit occurs when government spending exceeds income. COVID-19 has seen an increase in public expenditure through aid and a decrease in tax revenue, widening the difference. To reduce this shortfall, the government usually takes on debt. While this is not always bad and can be a necessary step to ensure growth, deficits can spiral out of control.

The central bank unveiled its expansionary monetary policy

What it means: Monetary policy involves actions taken by the central bank of a country to control the money supply (think printing money, tweaking interest rates, etc). An expansionary policy aims to stimulate economic growth. Here are some key takeaways:

  1. Bank rate lowered to 4% - The interest rate at which central bank loans to domestic banks is lowered. Now that loans are cheaper, in theory, people should spend/invest more, spurring the economy.
  2. Overnight REPO (repurchase agreement) rate cut to 4.75% - A short-term deal to sell securities and repurchase them at a slightly higher price. A lower rate incentivizes banks to sell securities back to the government for cash.
  3. Adoption of strategies to support small businesses e.g. think tax holidays

Finance ministry disbursed ৳1,000 crore for job creation

The government raised the prices of petroleum products by up to Rs 6.62

Consumers will get 3-month payment reductions for electricity bills

Women activists demand urgent action to bring back stranded migrant workers

The International Financial Corporation wants to boost investments to support economic recovery

MARKET INDEX

SOUTH ASIA

TODAY

1-DAY

YTD

DSEX

4,214

+1.03%

-5.36%

SENSEX

37,607

-0.034%

-9.05%

KSE100

27,559

+0.81%

-33.43%

CSE

5,124

+0.71%

-16.05%

GLOBAL

S&P

3,271

+0.77%

+0.41%

FTSE

5,898

-1.54%

-22.44%

OIL

44

+0.9%

-34.13%

GOLD

1,976

+0.95%

+30.02%

TECHNOLOGY AND STARTUPS

After India, the U.S. is considering banning TikTok under Chinese ownership

Google will extend work-from-home policy to mid-2021

Three people including a 17-year old teen charged for Twitter's security breach

A startup you should follow:

ShareOut facilitates donation campaigns. Individuals and organizations can make their campaigns and share them. Organizers will be able to access real-time updates on donor names, money raised, and funds withdrawn. Likewise, donors will be able to track the progress of the campaign, including how beneficiaries are impacted. After each donation is complete, the donor will receive a report on the campaign via email.

SPORTS CORNER

Swiss prosecutor launched criminal proceedings against FIFA president Gianni Infantino

Indian women's cricket team is in Nike's "You can't stop us" ad

PROFESSIONAL DEVELOPMENT

How to ask for advice
Often the people we are seeking suggestions from are quite busy. It is no surprise then that our emails go unheeded. The following tips can save their time and hopefully get you the insight you are looking for:

  • Make the ask upfront without small-talk (you can keep the how are yous for after you build a relationship)
  • Think about what the problem is or what is it you want to know
  • Provide context of your question in a concise manner
  • Follow email etiquettes

Content from Michael Seibel’s blog

KEEP IT SHARP

Before Mt. Everest was discovered, what was the highest mountain in the world?

HERE'S SOMETHING INTERESTING






(Part 3/4)

Some athletes wish to play for their nation, some dream to take up the role of a coach. While it is still a dream for many, former Pakistan cricketer Misbah-ul-Haq is living the dream to its fullest. But first he achieved his first and foremost dream - to become an educated citizen.

Despite his responsibilities as a torch-bearer of his country and his dream to succeed as an athlete, Misbah remained committed to his thirst for knowledge, with his MBA from the University of Management and Technology serving as a testimony to his willpower.

Misbah is arguably the greatest Test captain of Pakistan - he led his nation to the no. 1 ranking in the longer format of the game after leading his team back up from the spot-fixing scandal in 2010. After an illustrious playing career, Misbah became the head coach and chief selector of his country’s cricket team just a day after retirement!

The 45-year old man gave us a life lesson to never forget – if you want to be successful, you just can’t give up: dedication pays off.

This is part 3/4 of our collaboration with Saif Chowdhury, where we highlight South Asian athletes who model an exemplary commitment to education.

OF ART AND ARTISTS

If your hobby is book-ed by the passion of reading, check out Miss Curly. Her bookstagram may just book the bookworm in you. 

ANSWER

Mt. Everest, it just wasn't discovered

"Stop acting so small. You are the universe in ecstatic motion."

-Rūmī

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