The entrepreneur behind a high-profile effort to rescue Indian carrier SpiceJet has asked for more time to finalise funding plans, a government official with direct knowledge of the matter said on Monday. Full Article
SYDNEY - A holiday lull settled over Asian markets on Tuesday after Wall Street closed at historic highs while oil prices suffered a stinging setback after Saudi Arabia quashed all thought of curbing supply.
The recent market correction was overdue. A further correction would be an opportunity for those who missed the rally in the past few months. The markets could get a reality check next year and consolidate before the next big movement. I still believe Modi will not fritter away his mandate and deliver on his promise, albeit with a delay. Full Article | Graphic: One-year performance of the Sensex
For months, Vanderbilt University researcher Dr. James Crowe has been desperately seeking access to the blood of U.S. Ebola survivors, hoping to extract the proteins that helped them overcome the deadly virus for use in new, potent drugs. Full Article
Prime Minister Narendra Modi's reform agenda suffered a setback on Monday as protests erupted in parliament and in the streets over a campaign by Hindu hardliners linked to his party to convert Muslims and Christians to Hinduism. Full Article
SpiceJet’s woes are all too familiar. India is cajoling banks to lend to the country’s second largest single-brand carrier when the debt-ridden airline needs more equity. The government’s hope is to save jobs and prevent a repeat of the failure of Kingfisher Airlines. Even if the rescue works, exorbitant fuel taxes and lack of a bankruptcy law will keep the industry stuck in an air pocket. Full Article
Uber’s law flouting could bring its joyride to a screeching halt. The taxi app company is covering its drivers’ fines for illegally picking up passengers. That may be just another business expense to a firm that earned a $40 billion valuation by moving quickly and breaking the rules. But the legal, lobbying and public relations costs of reckless behavior are accelerating fast. Full Article
Saudi Arabia is once again using its “oil weapon”. The kingdom has two targets in its latest oil war: it is trying to squeeze U.S. shale oil - which requires higher prices to remain competitive with conventional production - out of the market. More broadly, the Saudis are also punishing two rivals, Russia and Iran, for their support of Bashar al-Assad’s regime in the Syrian civil war. Commentary