Some off beat reads for the weekend:
Not such an English game anymore (ESPN)
How Ameera Shah powered the rise of Metropolis Healthcare (Forbes)
Re-examining the Vajpayee legacy (SwarajyaMag)
Yemen and beyond (Al Jazeera)
The real Singapore model (Project Syndicate)
A place called Bhatkal (Open)
Moscow:Opulent,overwhelming and pulsing with power (NG)
Sri Lanka: The two faces of paradise (Afar)
Facebook Wall:Team India bows out of World Cup (Unreal Times)
Travelogue: Solo drive to the North East-all 7 sisters (Team BHP)
The World’s most dangerous trail (Smithsonian)
The refreshing bare beauty of Tel Aviv (NYMag)
Bill Ackman’s fight against Herbalife (Vanity Fair)
How the mixed population of Cape Town saw SA lose (Caravan)
The Anti-Modi Christian Agenda-Part 2 (Media Crooks)
Some stuff I am reading today morning:
New rules for startup listing (ET)
The dollar consensus (Akash Prakash)
Nomura Research:NTPC (MyIris)
Is DCB Bank a potential 100 bagger ? (RJ)
The worst sector for investors (Calm Investor)
Someone is always outperforming your portfolio (PragCap)
Warren Buffett quadrupled his ketchup investment (Bloomberg)
How to combine value and momentum investing strategies (Alpha Architect)
PPF Calculator (Apna Plan)
Do IPOs make sense for retail investors? (Mint)
(Disclosure:I am market making in the shares of ICICI Lombard)
India’s largest mortgage lender State Bank of India (SBI) has decided to lower its stakes in its general insurance joint venture to 51 percent and has decided to begin the process, the bank said on Thursday.
In a regulatory filing in BSE the bank said its executive committee of the central board (ECCB) on March 25 decided to initiate the necessary action as per the joint venture agreement for dilution of its stake in SBI General Insurance from 74 percent to 51 percent.
SBI said the other partner, Insurance Australia Group (IAG) of Australia would increase its holding in the general insurance company from 26 percent to 49 percent.
According to SBI, the process for diluting its holding in favour of IAG would begin as per the joint venture agreement which includes the appointment of valuer to estimate the enterprise value and the price discovery.
The bank’s decision comes in the wake of Indian parliament passing amending the insurance laws to allow foreign direct investment (FDI) up to 49 percent subject to the condition that the management control remains with Indians.-from Money Life