Facebook And Jio Deal By: Shruti Karwa
Facebook invests $5.7 billion for a 9.99% stake in Reliance Jio Platforms. The collaboration is no surprise. Reliance emerges as the only Indian company that is capable of competing with US tech groups. India has been going through a rapid digital transformation over the last few years and it will not be wrong to say that Jio has contributed a big chunk to this. Since it has played a big role in bringing millions of Indians and small businesses online, Facebook with this investment will have closer access to Jio users. This deal will accelerate India as a push for a Digital India. With the COVID-19 pandemic and the economic slump, this may come with two advantages for India driving digital transformation and also regulating the economy. Facebook, on the other hand, may gain a huge base of users in India and it's an attempt to build a service called Lasso (like Tiktok from China) with Jio in their corner could do wonders.
Black Monday By: Ankush Kapoor
9-03-2020, also called Black Monday, the day we witnessed the worst drop in the market since the great rescission in 2008. The main causes were the Covid-19 pandemic, the crude oil price war between Russia and Saudi Arabia, and the trade war between the US and China. On 9th March we saw the DJIA fall more than 2000 points which were seen as the biggest ever fall in intraday trading. This fear of recession sent stock indices even lower. Due to a drop of 7% in the stock prices in 5 minutes, the trading had to be stopped for 15 minutes. India felt these effects too. Sensex and Nifty, both crashed around 8% on the same day. Intraday records show that the index crashed approximately 3200 points, its biggest single-day drop.
India Vs China By: Yashvardhan Rungta
In a world struggling to cope up with the pandemic, you read about the nations coming together and helping each other fight the novel disease. It’s startling to hear about an India China clash at this point. Even though the tensions between both countries are real, but they will eventually fade away given the history. China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Being two nuclear superpowers they have too much to lose by not working together and the world’s future is tied to this situation as there are no two countries more yin and yang than India and China.
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