News
Unlocking the Future – Newsletter by Flamingo Consultancy Group
Category : News
Theme : News
Country : All Over the World

A New week and we are back with a bang with some of the news that you may have heard of while many may you read for the first time from your resource pool. We, first begin with news from India, which is a matter of proud for all of us, later on move on to global news which may deepen the tensions in two super powers of the world.

India has 5th richest person on the earth:

5th richest person in the world

Image Source: https://commons.wikimedia.org

  • For years the world’s five richest people comprised a little changed group dominated by American, A European or two, and occasionally a Mexican. That order has now changed during the last week.
  • Our own Mukesh Ambani overtook Steve Ballmer on Thursday to become the fifth wealthiest person on the planet with a net worth of $ 77.4 bn, he is now clearly in close competition with Mark Zukerberg of Facebook to dethrone him from the 4th spot of being the richest person on the land.
  • Ambani got richer by around $ 3 bn even on Friday, being the last working day of the week. The upcoming weeks and months are more eventful for the tycoon as lots of positive announcements are lined up and that will spring up surprises to many to his meteoric rise in his wealth drive.

US Dollar Currency moving direction and its likely impact on asset classes:

US Dollar

Image Source: https://www.usmoneyreserve.com

  • USD has started weakening across the globe, the reasons for the same being penciled as prevailing negative real interest rate yields, US virus woes, European increased stimulus and the Federal Reserve’s Quantitative Easing.
  • Dollars weakening will lead to a strengthening local currency up move, the expectations are running that Dollar will weaken by around 5-7% from the current level across the global currency. The consequent impact thereof will be felt on riskier asset classes as said by the expert.
  • A mute question to ponder here is whether global capital markets are heading for a swift correction leading into the month of August? Let us keep watching currency movement and mix and match impact thereof on riskier asset class.

CHINA – US – growing list of flash points:

US and China

Image Source: sundayguardianlive.com

  • China ordered the US to close its consulate on the south west city of Chengdu, after the American government this week forced China to leave its mission in Houston, citing alleged spying.
  • The Chengdu consulate serves as a key U S listening points for developments in Tibet, where communist party efforts to suppress dissent have been a long focus of tension between China and the U S. The closure adds to a growing list of flashpoints between the two superpowers on globe map.
  • The rift has deepening side impacts and let’s lists out some of them as have ripples in the coming weeks.

Tik Tok… Time is Ticking:

Tik Tok

image Source: https://www.cashify.in/

  • Zhang Yiming is the little known Chinese entrepreneur who built TikTok into one of the most promising franchises on the internet. Now pressure is mounting on him to save its application being ordered to be suspended by TRUMP administration for its usage in U S.
  • Yet another side impact and this time it will be with an IPO from ALIBABA’S stable, let’s look into the details.

ANT Financial, Alibaba’s Company’s IPO:

ANT Financial

Image Source: https://www.businesswire.com

  • Ant Financial, one of the most sought after Chinese IPO in recent years isn’t going to New York. It is China’s largest electronic payment company and the crown jewel of ALI BABA’S sprawling empire, planning to sell shares on Hong Kong and Shanghai stock exchanges in the coming weeks.
  • And Now the last leg of the news making on throwing opportunity for ever expanding TELEMEDICINE BUSINESS.

Telemedicine Triumphs:

telemedicine triumphs

Image Source: https://www.healthitoutcomes.com

  • Overstretched health services and social distancing measures to combat CORONA VIRUS are giving a boost to telemedicine consultations across Asia, a phenomenon likely to catch fire even after the pandemic has been controlled. With a world class technology set up and India’s low health cost, with a deep pool of doctors, digital health possibilities are expanding at a rapid pace when people are hesitated to visit clinics for the fear of catching up the virus.
  • The potential is tremendous, the region’s telemedicine market is expected to grow from $ 8.5 bn this year to a staggering $ 22.5 bn for the year 2025 as revealed by Market Data Forecast.
  • It’s an opportunity thrown open, if we have guts, let’s catch it and grab it, else will keep on talking and writing.

We will be back next week with more interesting news for you, till then Good-Bye.

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