September 17, 2020 Dose 46

The Capsule

Namaste Alexa - Shahenshah of Bollywood, Amitabh Bachchan is the voice for Amazon Alexa?

Source: Subtle Curry Traits

TOP STORIES

Dr Ruhul Abid and his nonprofit organization Health and Education for All (HAEFA), were reportedly nominated for the Nobel Peace Prize

Digging Deeper: Although the Nobel Prize nominations are officially kept a secret, news outlets reported news about the nomination of Dr Ruhul Abid, a Bangladeshi-American professor at Brown University Alpert Medical School. In the past three years, HAEFA has offered free on-site treatment to more than 30,000 readymade garment workers, supported cervical cancer screening/medication for more than 9,000 RMG workers and underprivileged women in Bangladesh along with free healthcare to more than 150,000 Rohingya refugees in Cox's Bazar. Dr Abid is one of 211 individuals nominated for the 2020 Nobel Peace Prize.

Myanmar has deployed over 2,500 soldiers along Rakhine and Chin state borders

Asian Development Bank expects 6.8% GDP growth in 2021 but prolonged recovery from the aftermath of COVID-19

Aurobindo Pharma has teamed up with BIRAC to develop a COVID-19 vaccine as a surge in cases have caused an oxygen shortage

Pakistan's display of a disputed map prompted the Indian delegation to walk out of SCO meeting

Free speech vs Indian tycoons - Netflix argues on the grounds of free speech after a court order stalled its release of a docuseries

What Happened? Bad Boy Billionaires is a documentary series on four Indian tycoons facing fraud allegations. A state court put the show on hold when one of the people highlighted in the show filed a case for a breach in privacy, a move that Netflix claims to "freeze free speech.”

Tourist activities such as trekking and mountaineering set to open from Oct 17

Local onion prices shot up 25% after India banned onion exports

The highest single-day fatalities were recorded with 15 more COVID-19 deaths

PM Imran Khan announced, "Pakistan has entered the industrialization phase"

Children return to school after 6 months

The Premier has called for "chemical castration of rapists" in response to a rape of a woman on a highway last week

A group of Tamil Canadians is calling on Prime Minister Justin Trudeau of Canada to act on disappearances in Sri Lanka

Asian Development Bank forecasts GDP to shrink by 5.5%

Police yesterday requested all motorcyclists and three-wheelers entering Colombo City to use only the Bus Priority Lane tomorrow in a bid to manage traffic congestion

MARKET UPDATES

DSE and CDBL customers can now file their complaints online

Mukesh Ambani has put SoftBank on the waitlist for Reliance Retail stakes

TECHNOLOGY AND STARTUPS

YouTube shorts - TikTok's new rival to be tested in India

Here's all that Apple released in its September 2020 event:

  1. Apple Watch Series 6 - New colors, blood oxygen meter, and new bands. Starting at $399
  2. Apple Watch SE - Uses previous generation chip starting at $279
  3. Fitness+ - Exercise demonstrations by fitness experts starting $9.99/month
  4. Apple One - Cross service bundle including Apple Music, Apple TV+, Apple Arcade, and iCloud storage starting $14.99/month for individuals
  5. 8th Generation iPad - 10.2-inch entry-level ($329) with performance upgrades
  6. Redesigned iPad Air - Starting at $599 with new colors (there's a new mint green), Touch ID on the lock button, and a shape resembling more like iPad Pro
  7. NO NEW iPhones - First time in 8 years

An organization to follow:

Y21 is a youth organization created by young people for the young people to create a change. It's end goal is to change the educational system while giving the youth a voice and solving the problems that young people experience on a regular basis.

SPORTS CORNER

BCCI President Sourav Ganguly visits Sharjah Stadium to review preparations for IPL 2020

PROFESSIONAL DEVELOPMENT

The pandemic has brought down interest rates globally, but before you go out and borrow money, it's essential to understand which interest rate has changed.

Interest rates generally refer to the cost of borrowing. Say you lend $100 to your friend, and he/she/they return $105. Then the extra $5 amounts to an interest rate of 5%. Before giving a loan, or taking one for that matter, it is the real interest rate you need to look out for (no pun intended).

The real interest rate is the amount of extra purchasing power lenders must be paid for the rental of their money. It is adjusted for expected changes in the price level (aka inflation). The interest rate you read about in the newspaper is often the nominal interest rate - which does not account for inflation. Consider a situation where you have made a one-year loan with a 5% interest rate (nominal) and expect prices to go up by 7% by the end of the year. As a result of making the loan, you will end up losing 2% in real terms.

Here is a famous equation to help you out: r (real interest rate) = i (nominal interest rate) - pi (expected inflation). You just learned a foundational piece of intermediate macroeconomics known as the Fisher equation in less than a minute!

Tl;dr: When real interest rates are low, it's time to borrow. When they are high, then you are better off lending.

Also, if you are wondering how inflation is calculated, we have got you covered in a previous dose here.

KEEP IT SHARP

You live in a one-story house made entirely of redwood. What color would the stairs be?

OF ART AND ARTISTS

Babbu is a Toronto based artist who incorporates retro Bollywood into her pieces. Her shop contains a plethora of South Asian-inspired designs that can be incorporated on apparel for men, women, and even kids! She also lets you customize the design for your pieces!

ANSWER

What stairs? You live in a one-story house!

QUOTE OF THE DAY

Rumi was asked, what is Poison?
He answered, "Anything which is more than necessity is Poison. It may be power, wealth, hunger, ego, greed, laziness, love, ambition, hate, or anything."

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