Daily News Podcast: India set to receive average monsoon rains : Bulletin: Business Today
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Daily News Podcast: India set to receive average monsoon rains

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April 17, 2018

World Bank forecasts 7.3 per cent growth for India in FY 2018
The World Bank on Monday forecast a growth rate of 7.3 per cent for India this year and 7.5 per cent for 2019 and 2020, and noted that the country's economy has recovered from the effects of demonetisation and the Goods and Services Tax. "Growth is expected to accelerate from 6.7 in 2017 to 7.3 per cent in 2018 and to subsequently stabilise supported by a sustained recovery in private investment and private consumption," the World Bank said in its twice-a-year South Asia Economic Focus.

India set to receive average monsoon rains, in boost for poll-bound Modi
India is likely to receive average monsoon rains in 2018, the the state-run India Meteorological Department said, raising the possibility of higher farm and economic growth in Asia's third-biggest economy, where half of the farmland lacks irrigation. Monsoon rains, the lifeblood of the country's $2 trillion economy, are expected to be 97 percent of a long-term average, K.J. Ramesh, director general of IMD, told a news conference.

Fortis board to take call on Manipal Health, IHH and Hero-Dabur's offers this week
Fortis Healthcare on Monday said its board will meet this week to look at all eligible options as two more parties have entered the fray to acquire the company after its pact with Manipal Health Enterprises. The company's statement comes hours after Malaysia's IHH Healthcare said Fortis has expressed inability to engage with it over its offer to acquire the Indian healthcare firm, citing binding agreements with Manipal Health Enterprises.

Flipkart to announce new exclusive partnership with 'tech giant' on April 17
E-commerce giant Flipkart is expected to make two big announcements on Tuesday. In a teaser posted on the e-tailer's Twitter page, Flipkart CEO Kalyan Krishnamurthy said, "Long term partnerships have transformed the way India buys mobile phones. We are proud to enter into an exclusive partnership with a 'tech giant' to disrupt the mobile phone landscape in a big way. Get ready for two big announcements soon." While the homegrown online marketplace has not given any names as to who will be its likely 'tech giant' partner, media reports suggest that it could be a partnership with Huawei which is planning to launch the latest P20 series, or a partnership with Motorola to announce the upcoming Moto G6 mid-range series.

Facebook must face class action over facial recognition
A US federal judge ruled on Monday that Facebook Inc must face a class action lawsuit alleging that the social network unlawfully used a facial recognition process on photos without user permission. The ruling adds to the privacy woes that have been mounting against Facebook for weeks, since it was disclosed that the personal information of millions of users was harvested by the political consultancy Cambridge Analytica.
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