1. Morning news bulletin: Track latest stories

Morning news bulletin: Track latest stories

Indian students spent a massive $6.54 billion in the US in 2016-17, up 30% from the previous year, dwarfing the North American country’s foreign direct investment (FDI) of $2.37 billion in India.

By: | New Delhi | Published: November 14, 2017 6:46 AM
indian students, america FDI, zomato, tinyowl, housing, south korea, world power, china US duopoly Indian students spent a massive .54 billion in the US in 2016-17, up 30% from the previous year, dwarfing the North American country’s foreign direct investment (FDI) of .37 billion in India.

Indian students in US dwarf America’s FDI in India, spend whopping $6.54 bn

Indian students spent a massive $6.54 billion in the US in 2016-17, up 30% from the previous year, dwarfing the North American country’s foreign direct investment (FDI) of $2.37 billion in India. Of course, a large part of US FDI routed through low-tax jurisdictions like Mauritius is not counted here, although recent changes in tax treaties have made the route a bit less attractive. Among large countries, India was outstripped by China in 2009-10 to become the largest place of origin of students coming to the US, with correspondingly high spending. However, in recent years India has been bridging the gap with a scorching pace of growth in students it sends to the US — 29% in 2014-15, 25% in 2015-16 and 12.3% in 2016-17. Between 2010-11 to 2012-13, when the global financial meltdown hit the US economy badly, there was negative growth in Indian students going to that country. Chinese students spent $12.55 billion in the US in 2016-17, up about 10%

For food-tech firms, TinyOwl, Spoonjoy, Dazo, Zomato, business not sumptuous enough

The food-tech industry, which went through an upheaval in 2016 with TinyOwl, Spoonjoy and Dazo, among others, shutting shop while players such as Zomato and Foodpanda reducing workforce, continues to struggle to grab a share of consumers’ wallets. Between January and September this year, Zomato witnessed a 4% increase in average order value (AOV) at Rs 333, while its arch-rival Swiggy recorded just a 0.35% increase in AOV at Rs 277, data from a research by KalaGato Pte show. As per the data, in the same nine-month period, Sequoia Capital-backed Faasos witnessed a 2.2% increase in AOV, which stood at Rs 56. Naspers-backed Foodpanda reported a 0.7% increase in average order value at Rs 241. Almost each of these firms has a different business model. While Faasos runs its own central kitchen, under the cloud kitchen model, where it sells a range of food items, including wraps, biryani, desserts, etc, Swiggy runs its own logistics, with its deliverymen collecting orders from its network of restaurants to deliver to it to end-consumers. Zomato and Foodpanda generate order volume through advertising on their respective sites. However, the two companies outsource delivery to third-party vendors.

To boost Housing For All scheme in Bengaluru, Mumbai, Delhi, Centre turns to South Korea for help

In a bid to give a fillip to the ‘Housing for All’ scheme, the ministry of housing and urban affairs has sought South Korea’s help in hand-holding of urban local bodies of cities such as Delhi, Mumbai and Bengaluru, and financing urban infrastructure, a senior ministry official said. “There is rapid urbanisation in the country leading to rising population of metropolitan cities, other cities and towns, accelerated demand for basic services, scarcity of land for affordable housing and growth of slums and unplanned settlements, among others. In this regard, the Seoul Metropolitan Government can cooperate in hand-holding Delhi, Mumbai and Bengaluru in capacity building of urban local bodies, financing of infrastructure, including housing and other social amenities,” the official said. Last week, minister for housing and urban affairs Hardeep Singh Puri met Seoul mayor Park Won-soon.

World power order will be China-US duopoly; in this G2 world, here is what India must do

The best asset Donald Trump has are his enemies. The US media pore over his every tweet, follow the inside leaks, obsess over his style. The American political establishment also fails to see that Trump is not stupid or irresponsible, just different. When he is at home, the noise of excessive news blurs the signals. The result is that it is when Trump goes abroad that he gets a good press. People actually listen to what he says. Being a shrewd businessman, first, and a politician very much second, Trump plays every negotiation as a long game. His rhetoric changes, contradicts itself and often sounds totally convincing. This is because he has one voice for his American fans who like their meat raw and the message short and sharp. When he goes abroad, he knows they are not listening. They don’t read the wordy newspapers. He can become his shrewd deal making self. He is a chameleon. This is the reason why everyone is surprised at his Asia visit. Trump has a good personal rapport with every leader he had to meet. Even South Korea’s president Moon Jae-in was charmed by him up close, whatever Trump may have said in Washington DC about him. China’s president Xi Jinping has figured him out. So, unlike the scarcely hidden contempt with which European leaders greet him, he gave Trump a State-visit plus reception. This was the highest honour China has accorded to any visitor. Xi understands that for the foreseeable future only the US and China are going to matter. The world has gone G2.

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