Morning News from India - July 26, 2018 Tweet26 Jul 2018
- Sensex, Nifty End At Record Highs On Strong Earnings Momentum (Bloomberg Quint)
- India’s Insulated Stock Market Powers Ahead (WSJ)
India is booming, even as neighboring China is showing signs of slowing. India was the fastest-growing big economy in the first three months of 2018, and economists expect the strength to continue: those polled recently by Reuters forecast a 7.4% expansion in fiscal 2019. Solid growth bodes well for corporate earnings, and tends to send shares higher.
The stock market is also comparatively less exposed to changes in U.S. trade policy. The U.S.-China spat has rippled through Asia, hurting companies that rely on cross-border trade.
- Why the iPhone can’t compete in India (The Verge)
- Facebook earnings - Update on Whatsapp payments in India (Facebook Investor Relations)
The other major trend we’re seeing is the shift to more private messaging. There’s a lot to build here. We’ve been testing payments on WhatsApp in India. It gives people a really simple way to send money to each other and contributes to greater financial inclusion. Of the people who have tested this, feedback and usage have been very strong. All signs point to a lot of people wanting to use this when the government gives us the green light. In the meantime, we’ve broadened our focus to building this for other countries so we can give more people this ability faster. Over the next five years, we’re focused on building out the business ecosystem around messaging on WhatsApp and Messenger
- Accenture says India employees have to specialise (Times Of India)
- Wipro’s turnaround strategy working well, says CEO Abidali Neemuchwala (Livemint) - WIT
- HDFC AMC IPO attracts strong retail demand, subscribed over 5 times on Day 2 (Livemint) - HDB
- SEC Queries India’s ICICI on Governance, Accounting (Bloomberg Quint) - IBN