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☕: What is ‘quarter life crisis’?

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Wednesday 30 March 2022

Top of the morning

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There is better news from Europe. After 34 days of war, there are signs of de-escalation. Russia said it would sharply scale back military activity around Ukraine’s capital Kyiv and the northern city of Chernihiv to “increase mutual trust and create the necessary conditions for further negotiations”. This is encouraging for the global economy, floundering under supply-chain nightmares and inflation. Little surprise, the markets appear relieved.

☕: What is 'quarter life crisis'? 4

Mykhailo Podolyak, a political adviser to Ukrainian President Volodymyr Zelensky, and Ukrainian Ambassador to Turkey Vasyl Bodnar walk after their meeting with Russian negotiators in Istanbul, Turkey. (Reuters)

Scroll down for our top stories. On related-party transactions, the NSE scam, healthy food habits, and mask mandates. Meanwhile, many young professionals are facing what is being called a ‘quarter-life crisis’. Find out more.

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Market Watch
What’s up?

BSE Sensex

☕: What is 'quarter life crisis'? 9 57,943.65 (+0.61%)

NIFTY

☕: What is 'quarter life crisis'? 9 17,325.30 (+0.60%)

Dollar/Rupee

☕: What is 'quarter life crisis'? 11 ₹75.98 (-0.23%)

Gold

☕: What is 'quarter life crisis'? 11 ₹50,734 (-1.62%)

Crude oil

☕: What is 'quarter life crisis'? 11 ₹7,703 (-5.33%)

Bitcoin

☕: What is 'quarter life crisis'? 9 ₹36,75,933.47 (+0.89%)

*As of 8 PM 29 March; MCX, CoinDCX

The main stuff

India Inc seeks rethink on related-party transaction rules

India’s top conglomerates have urged the markets regulator to reconsider implementing norms that mandate a group’s holding company to secure shareholders’ consent for deals above ₹1,000 crore and auditors’ approval for all related-party transactions, three people with knowledge of the matter said. On 23 March, the Confederation of Indian Industry, on behalf of conglomerates such as Tata group, Adani Group and Mahindra Group, suggested that the Securities and Exchange Board of India (Sebi) change the norms and defer the amendments for at least six months, reports Anirudh Laskar. Read more.

Broker gains in co-location case under CBI, Sebi lens

The Central Bureau of Investigation (CBI) is focusing on the financial gains made by some brokers when they had unfair access to National Stock Exchange (NSE) systems as part of its investigation into the NSE co-location scam. CBI is relying on an Indian School of Business report of 2017 to zero in on the profits or gains made due to the lapses. Between 2010 and 2014, these brokers may have made profits to the tune of ₹2,582.6 crore, reports Jayshree P Upadhyay. Read more.

FSSAI wants kids to be taught healthy food habits

The food regulator wants school children to be taught all about healthy food—especially what’s safe and nutritious to eat—worried that malnutrition and bad eating habits are threatening India’s social and economic progress. The Food Safety and Standards Authority of India (FSSAI) has written to the National Council of Educational Research asking for content around healthy diets in its school curriculum. Priyanka Sharma has the details. Read more.

Young and burnt-out in corporate India (premium)

Many young professionals are racing ahead in their careers, but at the same time they’re struggling to cope with a sense of despondency, fatigue and listlessness that has overwhelmed them through the pandemic. Life coaches say the skill sets needed to survive at the workplace are changing rapidly but employers are not ready for a change yet. Consequently, careers are becoming redundant within a few years. Experts are warning that India Inc will see its workforce suffer from such symptoms at many stages of their lives, writes Devina Sengupta. Read more.

Is it time for India to now relax its mask mandates?

Many countries across the world have been working towards doing away with restrictions enforced following the coronavirus outbreak. The boldest of them has been doing away with mandate to wear masks in outdoor settings. What is the rationale? These decisions appear to be a trade-off made by the authorities. There are several studies that have shown that the risk of covid-19 transmission is low outdoors. Coronavirus spreads most easily in congregated settings such as indoors. Second, mask fatigue has been setting in, explains Divya Rajagopal. Read more.

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Elsewhere…

Global business news

☕: What is 'quarter life crisis'? 26

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Western sanctions have disrupted nearly every part of Russia’s financial system, but there is one big exception. The domestic-payments system continued to work smoothly after Visa Inc. and Mastercard Inc. pulled out earlier this month. For years, Russians have used a homegrown system overseen by Russia’s central bank.

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Apple Inc.’s boutique-store approach to streaming is paying off with tastemakers. While Apple TV+ doesn’t have nearly as deep a catalog as streaming giants such as Netflix Inc. and Walt Disney Co.’s Disney+, it has become a critical darling. Sunday night’s Academy Award win for “CODA”—the first time a streaming service won best picture—comes just months after Apple TV+’s “Ted Lasso” took home the Best Comedy trophy at the Emmy Awards.

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Nielsen Holdings PLC agreed to sell itself to a group of private-equity firms in a deal that values the media-measurement company at $16 billion including debt, resurrecting a deal after talks fell apart last week. A consortium led by Elliott Management Corp.’s private-equity arm and Brookfield Asset Management Inc. agreed to pay $28 a share for the company.

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Business travelers are hitting the road again. After covid-19’s Omicron wave suppressed travel volumes in January, transactions are up significantly over the past nine weeks, according to SAP Concur, a travel and expense software provider. Small and medium-size companies are driving much of the acceleration, analysts say.

e-paper
MINT SNAPVIEW

India’s space economy boom is here

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When rockets, satellites and spacecraft boldly go where no man (or woman) has gone before, can economists fail to tag along? As space-related activity has increased, attempts to quantify the space economy have grown in quantity and quality. A recent paper has attempted to put a number to the contribution of the space sector to India’s economy, and came up with ₹36,794 crore, or 0.23% of GDP. That might not sound like much, but the figure is a probable underestimate. Read more.

News in numbers
614.4 million tonnes

State-owned Coal India’s production of coal as of 28 March, on track to cross 620 million tonnes during 2021-22, its highest ever.

8.5 million tons

The quantity of wheat exported by India in 2021-22, according to the US Department of Agriculture. It’s expected to increase in 2022-23 amid shortages due to the Russia-Ukraine war.

$185.7 million
☕: What is 'quarter life crisis'? 36

The brand value of cricket player Virat Kohli, according to Duff & Phelps’ latest Celebrity Brand Valuation Study. Kohli has been the top celebrity for the fifth consecutive year.

57%

The percentage of recruiters who plan to hire in the coming months till June 2022, according to Naukri Hiring Outlook Survey, up from 51% in last year’s survey.

91%

The percentage of Indians who said they plan to book a dream vacation in 2022 which they normally would not have considered before the pandemic, according to American Express Travel.

howindialives.com
Chart of the day
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The retail price of petrol crossed ₹100 per litre on Tuesday in Delhi after nearly four months. Since 21 March, prices at the pump in the national capital, Mumbai, Chennai and Kolkata have risen sharply. While the price rise can be attributed to the surging crude prices due the Russia-Ukraine war, they were kept unchanged for long ahead of the assembly election in five states. Now, they are nearing levels seen before the excise duty cuts in November last year.

LOUNGE RECOMMENDS

How to be perfect

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Michael Schur’s book, How To Be Perfect: The Correct Answer To Every Moral Question, is likely one of the freshest, funniest and friendliest works on practical morality and ethics. It’s easy to latch on to the breezy, sometimes sassy, TV-narrator style of storytelling. It is conversational and catchy, never straying from its almost frantic need to be entertaining. Despite this “fun-friend” energy, it never compromises on the thoroughness of its research and has detailed and diverse footnotes and cross-references. It even explains the need for certain possibly problematic references. Keep reading.

WHAT THE FACT

Ancient robots

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Pinocchio automaton (Pasimi, CC BY-SA 4.0, via Wikimedia Commons)

Automaton is a moving mechanical device, like a robot. Believe it or not, it was first mentioned in Homer’s Iliad—there are references to mechanical tripods used to serve dinner guests. Merriam Webster mentions a traveler to the emperor’s court in Byzantium in A.D. 949. The traveller reported that “mechanical birds sat in a golden tree singing the songs of their species; that mechanical lions flanked the throne, roaring and swishing their great tails; and that, as he stood watching, the emperor’s throne suddenly shot upward toward the high ceiling, and when it slowly descended the emperor was wearing new robes”. How were these devices powered back then? By steam or falling weights.

Contributed by katanaThebizdom

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