What is it? Increase in consumer price index (or growth retail inflation) in November.
Why is it important? This is the highest in 14 months. The increase is mainly due rise in food prices, especially that of pulses, which rose 46.1% in November on a year-on-year basis. High inflation rates suggest the effects of deficient monsoon in two consecutive years have begun to show on the rural economy. This also shows the challenge the Reserve Bank of India in containing retail inflation under 6% in January 2016.
Tell me more: Overall wholesale prices fell by 1.99% in November, the 13th consecutive monthly fall and the highest since January. Wholesale food prices increased 5.20% in November compared to 2.44% rise in October.
What is it? India’s rank among 188 countries in the Human Development Index (HDI) in 2014 according to the Human Development Report 2015 released by the United Nations Development Programme (UNDP). The HDI looks at three factors – longevity, education and income.
Why is it important? It has shown a slight improvement from last year – up by one spot. India’s HDI has marginally gone up from 0.604 in 2013 to 0.609 in 2014. This puts India in the “medium human development” category where its HDI is lower than the average HDI of countries (0.630) in this section. India’s poor ranking in the human development index is mainly due to high inequality and low education levels. The index is widely followed, even it’s considered to be a “somewhat crude measure” of human development.
Tell me more: India ranks the lowest among BRICS countries (Brazil, Russia, India, China and South Africa). Norway, Australia and Switzerland rank the top three in the HDI, falling under the “Very High Human Development” category along with 46 other countries.
What is it? Estimated drop in iPhone unit sales in 2015-16, according to Morgan Stanley.
Why is it important? If the estimates turn out to be right, it could well be that the sales of the most successful tech product in the recent years has peaked. Apple earns most of its revenue from iPhones and in the three months ending September this year, iPhone sales accounted for nearly two-thirds of the company’s revenue.
Tell me more: Other analysts such as JP Morgan Chase & Co, Drexel Hamilton and Credit Suisse have similar predictions for Apple. For instance, JP Morgan Chase has lowered its Iphone sales’ prediction for the fourth quarter of fiscal 2016 – it says sales of iPhone units are likely to come down to 75-77 million, down from an earlier prediction of 75-80 million units.
€25.3 million (around Rs.186.7 crore)
What is it? The amount Mahindra and Mahindra and affiliate Tech Mahindra would pay to purchase 76.06% stake in Italian car designer Pininfarina SpA, through a special purpose vehicle (SPV).
Why is it important? Shows Indian companies’ drive to expand their design capabilities – and their global footprint. Pininfarina has designed cars for Ferrari, Maserati, Rolls-Royce and Cadillac. Mahindra group had acquired controlling stakes in South Korea-based Ssangyong in 2011 and PSA Peugeot Citroen’s motorcycle unit this year. As for Pininfarina, it has been unprofitable for the last decade and struggling with high debt levels.
Tell me more: The SPV would make an open offer to public shareholders of Pininfarina for the balance 23.94% stake. Mahindra and Tech Mahindra would fund the acquisition in the ratio of 40% and 60% respectively.
What is it? The data point that Maggi noodles removed from its masala noodles package. Prior to the ban, the package cited this number as percentage of recommended dietary allowance (RDA) of protein that a 70g packet of Maggi noodles had.
Why is it important? Could be seen as an indicator that food regulators are getting increasingly strict about labelling. Or it could be just that Nestle India, which makes Maggi noodles, is trying to be more cautious after the ban. Maggi noodles was banned for a few weeks due to higher than permissible lead content. It’s woes are far from over as the Supreme Court recently issued a notice to the company after the food regulator appealed against the lifting of ban on Maggi Noodles.
Tell me more: The pack now also doesn’t have the following: “Maggi masala noodles is a source of protein and calcium: essential nutrients for you at all stages of life”. And, this has been replaced with “Consume along with fruit and milk”.