👀 The Week At a Glance
This week we talked about FinTech regulations, Ambani's succession plan, mutual funds and so much more!
Hey there, good morning! Here’s a quick recap of what went on in the world of business and finance this week. Some of our stories will also give you insights for your own investment decisions, so binge on…
💔 What was behind Reliance and Saudi Aramco’s Sudden Break Up?
We thought Reliance and Saudi Aramco were a match made in heaven. Saudi Aramco, the world’s biggest oil exporter, was set to buy a stake in Reliance’s oil-to-chemical business. But this on-again-off-again deal ended suddenly, almost like a Bollywood romance. Curious why? ReadOn to find out!
😮 El Salvador is Creating a $1 billion Bitcoin City with No Taxes!!!
Imagine if you could live in a city where you had to pay virtually no taxes? El Salvador is trying to make this dream vision a reality by harnessing the power of Bitcoin.
PS: The idea is supported by the belief that Bitcoin will hit the $1 million mark in five years. Here’s our explainer on this crazy but visionary plan.
You can also check out our video explainer on the topic:
🤔 The Evolution of FinTech Regulations
The FinTech sector has grown and evolved very rapidly in just a few years. But with great power came great responsibility, much of which it has not shouldered. So, now the government is trying to make sure that this unregulated sector does not cause problems for us citizens. How? ReadOn to know more.
💰 Mukesh Ambani’s Great Indian Succession Plan
Dying without a succession plan can break apart the family you leave behind. No one knows this better than Mukesh Ambani. So, he is creating a succession plan to decide the future of his Rs. 15 lakh crore empire. This plan is apparently modeled on the succession plan of one of the world’s richest families. Want to know what it is? ReadOn!
☕ Bad News Coffee Lovers!
Your favourite morning beverage may soon be getting more expensive or may be even extinct! The short explanation: Climate change. The long one: Right here.
💸 NFOs: The IPOs of Mutual Funds
Few of us have escaped the news of the current IPO craze. But something else is going on in the world of mutual funds. This new phenomenon taking over this world is called NFO. But what exactly are NFOs? Here’s our explainer on this topic.
🗞️ Here's What Else Made the News and Moved Markets:
👉 Jio captured the telecom market in 2016 but now it seems to be losing steam. It lost 1.9 crore subscribers in September whereas Airtel gained 2.74 lakh subscribers. Perhaps inspired by this success, Airtel is increasing the rate of its prepaid plans by 20-25%. Vodafone Idea is also following Airtel’s lead. But will this cause customers to go back to Jio? Or is the era of cheap phone plans over?
👉 Many brands have followed Facebook’s lead and announced plans to enter the metaverse. The metaverse craze is so high right now that a piece of digital land in the metaverse Decentraland, measuring 6,090 sq.ft., sold for an insane $2.43 million. But Pokemon GO creator Niantic is thinking outside the box and creating a “real-world metaverse”. It wants to use its AR tech to transform our physical world into a metaverse rather than having us enter a completely virtual world. Which idea do you prefer?
👉 The government has decided that something needs to be done about cryptocurrencies. It believes they are too volatile and can too easily be used for illegal purposes. So, it is considering banning private cryptocurrencies, which don’t reveal consumer transactions. But this caused holders to panic and sell even public crypto like Bitcoin and Ether. What do you think the future holds for crypto in the country?
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Team ReadOn ❤️
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