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| Name | BRICS Is Expanding, Surprising And Confounding Sceptics | Govindraj Ethiraj | The Core Report |
| Video Uploader | Video From The Core |
| Upload Date | This Video Uploaded At 25-08-2023 00:30:06 |
| Video Discription | On today’s episode, financial journalist Govindraj Ethiraj talks to Ashok K Bhattacharya, Editorial Director at the Business Standard and also columnist and author of "Nurturing Capex". 00:00 Start 00:50 BRICS is expanding, surprising and confounding sceptics. 03:58 FDI and FPI Is Slowing Down, What Options Does The Government have? with Ashok K Bhattacharya 11:10 What does it take to run a well governed board, with Keki Mistry 13:03 AI Rush resumes as Nvidia declares bumper revenue and profits. 14:03 Airlines are reporting results beyond wildest expectations. BRICS Has More Members: Brazil, Russia, India, China and South Africa – countries announced on Thursday that the awaited expansion of the grouping will go ahead. Iran, Saudi Arabia, Egypt, the UAE, Argentina and Ethiopia will join BRICS, said South African President Cyril Ramaphosa. The six countries are expected to become members starting 1 January, 2024. They are more interested in joining incidentally. “Through this step, the faith of numerous nations in a multipolar world order will become stronger," said Prime Minister Narendra Modi, welcoming the expansion in the five-nation grouping. BRICS is an acronym that started as BRIC in 2001 was coined by Jim O’Neill then with Goldman Sachs as a term for Brazil, China, India, and Russia. Later in 2010, South Africa was added to become BRICS. Markets & Around: The Jio Financial stock got slammed for the fourth day. This is the point in the match where you wonder if a batsman can actually hit sixes of all 6 balls. And how long will Jio hit the 5% lower circuit (the maximum it is allowed to go) ? The sensex gyrated quite wildly dropping 732 points from the day’s high to finally end with a loss of 181 points at 65,252. The NSE Nifty 50 too was up and down before settling 57 points lower at 19,387. India’s Big Capex Challenge: The Government Of India has ambitious growth and investment plans, much of it is infrastructure led. These span across roads, railways, among others. The interesting thing is that Government expenditure or plans for it is also triggering private capital expenditure proposals now at a 9-year high, as per Reserve Bank data. Government and Private expenditure intentions are moving together is the good news. The bad news is that foreign direct investment has slowed as we mentioned yesterday. It has declined 16% to $71 billion in the last year and has declined 22% in the first or last quarter of this financial year to $18 billion. Governance on Indian boards with Keki Mistry: Governance on boards, in this case Indian companies, is a sensitive subject. One view is that a few bad cases are getting blown out of proportion by us, that is those of us in the media. It could also be argued that the cases that are reported are getting proportionate mention. But then when the cases are high profile, they usually tend to cast aspersions on other companiesl. We put the question of why board governance in India was so weak to Keki Mistry, now independent director of HDFC Bank and until recently, VC and CEO of HDFC. NVIDIA Gains: Chip maker Nvidia revenue in the lastest or second quarter more than doubled to $13.5 billion from a year ago. Net profit for the company’s second quarter was over $6 billion, also surpassing forecasts. The company is saying that business is growing faster than expected, thanks to ever increasing demands of computing needs of artificial intelligence. Nvidia chips power several popular AI tools, including OpenAI’s ChatGPT & similar language-generation systems made by Google, Microsoft and others. Nvidia has invested in making chips and software for AI for more than a decade and has no competitors who can yet match it, says the WSJ. Bumper Profits For Airlines: On aviation…whichever way you look at it, this has been a bumper year or two for the airline industry. This may not be so apparent in India where one airline Indigo is evidently walking away with most of the industries profits, but it is not the case elsewhere. Qantas, the Australian airline reported record earnings despite billions of dollars on Boeing Co. and Airbus SE jets, returning $324 million to shareholders and giving $320 worth of travel credits to its entire rank-and-file workforce, Bloomberg is reporting. Remote Workers Are Disconnected With Corporate Mission: A new Gallup survey says the share of remote workers who said they felt a connection to the purpose of their organizations fell to 28% from 32% in 2022, the lowest level since before the pandemic. #brics #govindrajethiraj #thecorereport #thecore #india #stockmarketnews #businessnews #newspodcast #news #businesspodcast #news #trendingpodcast #trendingnews For more of our coverage check out https://www.thecore.in Follow us on: Twitter: https://twitter.com/the_core_in Instagram: https://www.instagram.com/thecore.biz/ Facebook: https://www.facebook.com/thecore.biz/ Linkedin: https://www.linkedin.com/company/thecore-in |
| Category | People & Blogs |
| Tags | brics | brics summit 2023 | 15th brics summit 2023 | brics summit 2023 all you need to know | johannesburg brics summit 2023 | fdi and fpi slowing down | what does it take to run a well governed board | nvidia decares bumper revenue and profits | qantas airlines | airlines profits | remote workers | gallup survey | ashok k bhattacharya | keki mistry | govindraj ethiraj | the core | the core report | business news | business podcast | trending podcast | news podcast | latest news | brics nations |
