👀 The Week At A Glance
This week we talked about India banning wheat exports, Adani's new businesses and lots more.
We started this week with the details of the crypto crash and ended it with a discussion about how your cup of tea is in danger. Catch up with all this and more in just 5 minutes.
🧐 Time's Up for Crypto?
A crypto market crash caused investors to lose $200bn in a day and $600bn in a week. All thanks to two cryptos: Terra and Luna. But how did these two cryptos cause the fall of all other cryptos? ReadOn to find out!
🌾 Why is India Banning Wheat Exports?
Just days after India announced lofty plans for wheat exports, we abandoned these plans and banned exports. But does this move make sense? ReadOn to know more.
😥 Indian Startups in Trouble?
Indian startups have enjoyed a funding boom in the last two years, minting many unicorns and soonicorns. But this funding well is soon set to dry out because two major VCs, SoftBank and Tiger Global, have decided to cut down on investments. Wondering why? ReadOn!
🎧 The Secret Behind Spotify's Success
Spotify has managed to become the world's most used music streaming app. But how did it manage to beat titans like Amazon and Apple to reach this stage? And can it similarly dominate the Indian market? Here's our explainer on Spotify's business model.
🥇 Why Are Indian Athletes Lagging Behind?
We're a country of 1.4 Bn people. But we manage to win less than 10 medals in international sporting events. Here's our take on why this is happening and how one startup is trying to solve this.
Want to know more about this startup? Join us for an Insiders Insights’ Session with Dashpod’s co-founder Santosh Kumar on May 22 at 7 pm.
☕ Your Next Cuppa Tea is in Danger!
Coffee, cold drink sab ek taraf, India's favourite beverage has to be tea. But the quality and the quantity of this tea could now be in danger. Here's why.
🗞 Here's What Else Moved the Markets and Made the News
👉🏻 Indonesia, the world's largest palm oil exporter, had banned palm oil exports on 28 April due to shortages. This impacted many nations as prices of cooking oil soared. But, 3 weeks later, it has lifted the ban and exports can resume from 23 May. This comes as the domestic supply of palm oil has increased to a level more than needed, and the export ban had hampered incomes of 17 mn workers in the palm oil industry. The ban also reduced Indonesia's revenues by $407.33 mn per month.
👉🏻 Adani became the second-biggest cement maker in the country after acquiring 63.19% stake in Ambuja and 54.53% in ACC for $10.5 bn. However, Adani will only pay $1.25-$1.5bn, with the rest being financed mainly by banks. The acquisition makes sense as the cement business fits perfectly with a lot of Adani's other businesses like building roadways, ports, real estate and logistics. It also comes at a time when India is focusing on building more infrastructure, which will give the cement business a boost. And if this wasn't enough, Adani also announced his entry into the healthcare business by creating a wholly owned subsidiary called Adani Health Ventures Limited. What business will Adani venture into next?
👉🏻 The Centre will cut excise duty on petrol by Rs. 8/litre and on diesel by Rs. 6/litre. So? The final price of petrol and diesel will go down by Rs. 9.5/litre and Rs. 7/litre respectively. This comes as the common man is fighting inflation and volatility in stock markets. The government will also give a subsidy of Rs. 200 per gas cylinder (upto 12 cylinders) under the Pradhan Mantri Ujjwala Yojana. While this is a relief for us, it will impact the government's revenue by Rs. 1 lakh crore per year.
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Team ReadOn ❤️
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