What is it? The trade deficit in January 2017.
Why is it important? The trade deficit, or the difference in the value of exports and imports, shrank to its lowest in four months. It was brought about by growth in exports for the fifth straight month, buoyed by petroleum products and engineering goods. The shrinking trade deficit also showed the impact of decreasing gold imports which shrank by 30%.
Tell me more: Demand in the US, Europe and Japan led to the 4.32% increase in exports.
What is it? The number of Taiwanese parliamentarians in the delegation that visited India this week
Why is it important? It drew a diplomatic protest from China which objected to India hosting anyone from self-ruled Taiwan. China blocks Taiwan’s right to diplomatic relations with others as it considers it to be one of its own provinces. It also resists attempts of other countries from acknowledging official institutions of Taiwan, opting, instead, for the “one China” principle. The complaint marks another entry in the uneasy Indo-China relations, plagued by border disputes and conflicting stands on the fight against terrorism.
Tell me more: India has termed the visit as informal and nothing unusual for purposes of business, religion and tourism.
What is it? The estimated fee for investment banks advising on the Vodafone India and Idea Cellular merger.
Why is it important? A deal that would create India’s largest telecom operator with around Rs78,000 crore ($12 billion) sales would generate almost 10% of last year’s total investment fees earned by investment banks in India. Hence, quite a few banks are vying for a slice of the pie.
Tell me more: Banks in the fray reportedly include BofA Merrill Lynch, UBS, Standard Chartered and Rothschild, while Morgan Stanley has already been appointed.
What is it? The asset base of State Bank of India (SBI) post merger with five of its subsidiaries.
Why is it important? The cabinet approved the merger on Wednesday. State Bank of India is already the largest bank in the country, and the merger will push the bank into the top global 50 list in terms of assets (it’s at number 52 now). The merger is also expected to create operational efficiency, saving the bank Rs10 billion in the first year.
Tell me more: The banks to be merged with SBI are State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore , State Bank of Patiala and State Bank of Travancore. All put together, SBI will have 22,500 branches, 58,000 ATMs and over 50 crore customers.
What is it? The amount Yahoo and Verizon have reportedly decided to lop off from the $4.8 billion acquisition deal.
Why is it important? The reduction in the value comes after Yahoo disclosed two security breaches in the second half of 2016. The hack had compromised millions of Yahoo Users, and occurred in 2013 and 2014. The disclosure came after Verizon agreed to acquire Yahoo for $4.8 billion in July 2016, and raised concerns about digital security, and the responsibility of tech firms that handle user data when a breach happens to various stakeholders including users and investors.
Tell me more: The first breach, in August 2013, affected over a billion accounts, and the second, in late 2014, affected over 500 million accounts.
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