By Dhirendra Kumar It’s hard to recognise something that does not follow an expected pattern or fit a conventional template. For investors and analysts, this is the exact case while observing the wave of reforms that is happening in the Indian economy. These changes on Indian businesses are deep and hugely impactful but since they don’t fit the established ‘reforms template’, all of us talking heads sometimes fail to recognise them. Last week, I had an opportunity of participating in an interesting discussion organised by S&P Dow Jones Indices. While listening to the astute insights of the speakers, I realised that, to some extent, we are all prisoners of what we think is implied by the word ‘reform’. Most of us have this conventional idea in our head as to what ‘economic reforms’ are. Mostly, it’s the 1991 template that was first created by the PV Narasimha Rao government. Lower tariffs, no licensing, foreign ownership, free … [Read more...] about What’s an economic reform, as we know it?
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NEW YORK: MacKenzie Bezos, soon-to-be ex-wife of Amazon founder Jeff Bezos, has promised to donate half her fortune to charity, joining the ranks of the world's ultra-wealthy philanthropists, the Giving Pledge has announced. The charitable organisation, founded in 2010 by Warren Buffett and Bill Gates, listed MacKenzie Bezos, an American, among 19 new signatories of the pledge from China, Switzerland, the United Arab Emirates and Britain. She instantly became one of the world's wealthiest individuals in April, gaining a net worth estimated at $36 billion after finalising the terms of her divorce with Jeff Bezos, the world's richest man. MacKenzie is going to be amazing and thoughtful and effective at philanthropy, and I’m proud of her. Her letter is… https://t.co/YoohADeiiG— Jeff Bezos (@JeffBezos) 1559050724000 "In addition to whatever assets life has nurtured in me, I have a disproportionate amount of money to share," MacKenzie Bezos said in a letter … [Read more...] about Jeff Bezos’s ex-wife MacKenzie joins billionaire philanthropist club, pledges $13 mn to charity
Democratic White House contenders united in supporting the impeachment inquiry against Republican President Donald Trump at a debate on Wednesday.During the fifth debate in the Democratic race to pick a challenger to Mr. Trump in the November 2020 election, the 10 candidates aired differences on healthcare and taxing the wealthy, but kept the exchanges largely polite and instead heaped criticism on Mr. Trump.U.S. Senator Elizabeth Warren, the progressive who has pushed ambitious plans to tax wealth and create a government-run healthcare plan, and Pete Buttigieg, the 37-year-old Mayor of South Bend, Indiana, who has been rising in the polls, escaped sustained criticism from their rivals.Mr. Buttigieg, running to be the first openly gay President, was pressed on his failure to make inroads with African-Americans — a key Democratic constituency — and drew a parallel to his experience being gay.“I do not have the experience of ever being discriminated against because of … [Read more...] about Democratic candidates stand united on Trump impeachment