BRANDs

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies

Trouble viewing this email? View in web browser

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 1
Wednesday, 24 Nov 2021
Top of the morning

Good morning!

To advertise in this newsletter, hit us up at newsletterskatanalivemint.com.

These are nervous days for investors and startups dealing in crypto-currencies. A ban is on the horizon but the Indian government is planning to possibly prohibit only “private crypto-currencies”. But then we don’t know how the government defines private. We await more details. However, the fallout of a blanket ban can be dreadful to the industry. That would force crypto exchanges to stop operations in India. They will also have to stop taking deposits from users in India, and in rupee.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 2

(iStock)

Scroll down for our top stories. On the implications of Paytm’s market debacle, a battle in the skies, a likely GST slab revision, and on the murky world of some fintech lenders.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 3   Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 4   Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 5   Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 6

Here’s a great value proposition:

A digital subscription to Mint can be yours at just ₹213 per month (get up to 15% off with bank offers). Check out the convenient and affordable plans we have for you here.

Market Watch
What’s up?

BSE Sensex

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 7 58,664.33 (+0.34%)

NIFTY

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 7 17,503.35 (+0.50%)

Dollar/Rupee

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 7 ₹74.42 (+0.04%)

Gold

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 10 ₹47,479 (-0.93%)

Crude oil

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 7 ₹5,810 (+1.75%)

Bitcoin

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 10 ₹45,63,824.57 (-3.27%)

*As of 9 PM 23 November; MCX, CoinDCX

The main stuff

Paytm’s market debacle may not stall IPO frenzy

Paytm’s market debacle is unlikely to cast a chill over the frenzied initial public offering market, though it may temper the valuation expectations of money-losing companies that are set to go public. IPO activity is expected to remain strong, with at least 10 companies set to launch their share sales in the coming weeks. The companies aim to raise a combined ₹20,000 crore through their share sales. Experts said that good quality companies at attractive valuations will always find takers. Swaraj Singh Dhanjal reports. Read more.

Boeing and Airbus resume their battle in the skies

Last week’s Dubai Airshow was the first air show since the covid-19 pandemic made air travel anathema. It was business as usual, as the world’s top two aircraft manufacturers announced new customer orders. Airbus amassed orders for 408 aircraft, led by 255 from private equity firm Indigo Partners and 111 from leasing company Air Lease Corporation. Boeing secured orders for 98 aircraft, including 72 from India’s newest airline, Akasa Air. Both said business was picking up, after nearly two years. This should rekindle a rivalry that has swung both ways over the past decade. Read more.

Inside the missteps at Avail Finance (premium)

As a practice, fintech platforms who do not hold a non-banking financial company (NBFC) license cannot directly lend to their customers. However, a startup founded by Ankush Aggarwal, brother of Ola founder Bhavish Aggarwal, has been directly disbursing loans. Avail has thus far raised $21.6 million in equity funding and is now in the process of raising another round of growth capital. Aggressive lending practices do boost the numbers it can show investors. However, some of the circumvention of norms by fintech platforms appear to be widespread. Arti Singh investigates. Read more.

Centre, states eyeing ₹3 tn extra from GST slab revision

A top tax committee is set to consider an increase in India’s goods and services tax (GST) slabs to raise an extra ₹3 trillion revenue annually. Proposals to increase the 5% slab to 7% and the 18% slab to 20% will be examined by a group of state ministers set up by the GST Council. The additional tax revenue will be shared equally by the Centre and the states. The tax hike will help stabilize tax revenues for the Centre, which is facing a shortfall after the recent fuel duty cuts and create space for spending on welfare schemes, reports Gireesh Chandra Prasad. Read more.

NoBroker becomes India’s first realty startup unicorn

Online property lease and purchase platform NoBroker became India’s first proptech unicorn, after raising $210 million in a Series E funding round led by General Atlantic, Tiger Global Management and Moore Strategic Ventures. NoBroker said the round was conducted at a valuation of $1.01 billion. With this, the company has raised $361 million across several equity rounds. The company plans to use the money raised to enter 50 cities over the next two years, report Tarush Bhalla and Nikhil Patwardhan. Read more.

How can India solve edible oil production woes?

India’s edible oil import bill touched a staggering ₹1.17 trillion between November 2020 and October 2021. The value shot up sharply from the year before due to a spike in the international prices of palm and soy oil. For the future, India may need to look back at a strategy it adopted over two decades ago. The country achieved self-sufficiency in the mid-1990s by focusing on native oilseeds like mustard and groundnut and promoting oil co-operatives, explains Sayantan Bera. Read more.

e-paper
Elsewhere…

Global business news

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 21

Samsung Electronics’ semiconductor manufacturing plant in Hwaseong, South Korea. (Bloomberg )

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 22

Samsung Electronics plans to build a $17 billion plant in Taylor, Texas, to make advanced chips for its contract-manufacturing, or foundry, business. That is another step toward the Biden administration’s goal of boosting chip making at home. Geopolitics is the crucial backdrop.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 22

Xiaomi Corp.’s third-quarter net profit fell steeply from a year earlier, weighed by long-term investments in other companies, the Chinese smartphone maker said. Xiaomi said Tuesday that the listed companies in which it invested generated total losses of CNY3.5 billion, which had a substantial impact on its net profit.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 22

The first planetary defense mission takes to the skies on Wednesday, when the National Aeronautics and Space Administration launches a space probe designed to deflect a distant asteroid in a test of technology that might one day save the world. Next fall, after a journey of more than six million miles, the probe will crash at 15,000 miles an hour into Dimorphos, a tiny moonlet that orbits a larger asteroid called Didymos.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 25
Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 22

Growing landlord demand for better data, new apps and other real-estate technology is fuelling a boom in proptech and attracting record sums of capital into the sector during the pandemic. Venture capitalists and other investors poured $9.5 billion into proptech through mid-November, according to data firm CB Insights.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 22

European businesses are seeing some easing in the delays they face getting hold of parts and raw materials, but supply-chain blockages pushed their costs higher, driving them to raise prices at record pace and fuelling inflationary pressures.

e-paper

News in numbers
5 million barrels

The quantity of crude oil India plans to release from its emergency stockpile along with the US, Japan and other economies to cool prices.

50

The number of Boeing 737 Max aircraft that SpiceJet plans to induct into its fleet by 2022-23. The airline had ordered 205 Boeing 737 Max planes in 2017.

$18 billion
Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 28

India’s projected video market by 2026, including television and online platforms, up from $11.6 billion at present, according to estimates by Media Partners Asia.

$225 million

The fine imposed by Italy’s antitrust agency on Apple and Amazon for colluding to restrict competition from selling Apple and Beats branded products.

2.2 million

Projected covid deaths in Europe by March 2022, up from 1.5 million now, based on current trends.

howindialives.com
Chart of the day
Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 34

Hopes for a clean winter in Delhi vanished into thin air, once again. The city’s air quality turned ‘severe’ starting November. The main culprit turned out to be the same as previous years: stubble burning. As the contribution of crop burning in PM2.5 goes up, air quality in the city worsens, data compiled by Manjul Paul shows. However, the entire blame cannot be laid on crop burning alone, as the air quality is still in the ‘poor’ category now that the fire counts have come down.

LOUNGE RECOMMENDS

A Place In My Heart

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 35

In her new book, A Place in My Heart, author, journalist and film critic Anupama Chopra writes about 50 films and events that have left an indelible impression on her and shaped her 25-year career. One of the interesting chapters explains why the big-screen experience is so important, and is especially significant since cinema halls have just reopened after nearly 18 months of closures. Read an excerpt.

What the fact

A candle measure

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 36

The first known use of ‘foot-candle’, a unit of illuminance, was in 1906. One foot-candle is the amount of light a candle can cast on a surface one foot away, ideally in a dark room. This unit of light intensity equals one lumen per square foot. The measurement is common in the US and is used by architects, and in museums and galleries that hold light-sensitive paintings and objects.

Contributed by katanasidart_misra

Were you forwarded this email? Did you stumble upon it online? Sign up here.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 3   Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 4   Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 5   Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 6

Written and edited by Goutam Das. Produced by Nirmalya Dutta. Send in your feedback to newsletterskatanalivemint.com.

Download the Mint app and read premium stories
Google Play Store App Store
View in Browser | Privacy Policy | Contact us You received this email because you signed up for Mint Top of the Morning or because it is included in your subscription. Copyright © HT Digital Streams. All Rights Reserved

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 43


Click Here to from this newsletter.

Top of the Morning ☕: A bill  to ban private  crypto, battle in the skies 44

-------- You also should read more news below: ----- [arpw limit="10" post_type="post" post_status="publish" thumbnail="false" thumbnail_size="arpw-thumbnail" excerpt="true" excerpt_length="2000" ]

Related Articles

Back to top button