News in Numbers: Ravi Shastri highest paid cricket coach with annual salary of $1.17 million
In other news, BSE Sensex on Thursday falls 0.6%—the first trading day of Samvat 2074, the new Hindu year
What is it? The funding round in US ride-hailing company Lyft being led by the venture capital arm of Alphabet, the parent of Google.
Why is it important? In 2013, Google invested $258 million in Uber, the world’s number-one ride-hailing company, but their relationship starting souring around 2016. And now, it’s throwing its weight behind Uber’s main rival in the US, at a time when Uber itself is battling a multitude of issues.
Tell me more: The latest funding round values Lyft at $11 billion, up from its previous valuation of $6.9 billion.
What is it? The projected non-financial sector debt of China as a percentage of its GDP by 2022, according to the International Monetary Fund (IMF).
Why is it important? China’s central bank chief on Thursday spoke of the risks of a ‘Minsky moment’ in the economy, referring to a sudden correction in asset prices after long periods of growth, sparked by debt or currency pressures.
Tell me more: This August, the IMF, while raising economic growth estimates for China, also warned about the framework it was being built on.
What is it? The combined value of projects of the Vadodara Municipal Corporation that Prime Minister Narendra Modi is expected to announce on Sunday, on his fifth visit to Gujarat since September.
Why is it important? State polls are scheduled in Gujarat. But earlier this month, going against the norm, the Election Commission of India announced polling dates for Himachal Pradesh but delayed the announcement—and the enforcement of the model code of conduct—for Gujarat, inviting rebuke from political parties and observers alike.
Tell me more: The model code of conduct reins in the party in power from using its official position for electoral moves.
What is it? The fall in BSE Sensex on Thursday—the first trading day of Samvat 2074, the new Hindu year.
Why is it important? Indian stocks are coming of a solid Samvat 2073. Despite weak macroeconomic numbers, the Sensex appreciated 16.7% on the back of large fund flows from domestic investors. But analysts feel domestic flows alone cannot sustain the market.
Tell me more: Foreign investors have been net sellers in Indian equities for the last three months.
What is it? The current annual salary of Ravi Shastri, the coach of the Indian cricket team.
Why is it important? He’s the highest-paid coach in cricket—by a long way. Shastri earns more than the combined salaries of Darren Lehman of Australia ($0.55 million), Trevor Bayliss of England ($0.52 million) and Russell Domingo, who coached South Africa till recently ($0.09 million).
Tell me more: Such disparity is not seen among top players. Steve Smith of Australia earns about $1.47 million from contracts and match fees, followed by Joe Root of England ($1.38 million) and Virat Kohli of India ($1 million).
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