A look at the headlines in this sector right now:

  1. Demonetisation will have a positive impact on the Indian economy, says World Bank chief: In an interview to HT, Kristalina Georgieva said that despite the initial hardship, the currency ban promoted a clean and digitised economy in the long run.
  2. Vijay Mallya blames defective engines of Pratt & Whitney for the fall of Kingfisher Airlines: The fugitive businessman said his company had filed a lawsuit, demanding compensation for the faulty engines.
  3. Alibaba raises stake in Paytm’s e-commerce unit with $177-million investment: Venture fund SAIF Partners, which is already a major investor in Paytm’s parent company One97 Communications, will put $23 million into the firm.
  4. Stocks of Snapchat owner Snap surge 44% after IPO debut at New York Stock Exchange: The parent company’s shares closed at $24.48, much higher than its IPO price of $17, which helped it raise $3.4 billion.
  5. Blue Origin plans to start Amazon-like delivery service to the moon by 2020, says Jeff Bezos: A lunar spacecraft will be built to help carry over 10,000 pounds of experimental gear and cargo along with people, he said.
  6. Kolkata woman finds a dead lizard in her McDonald’s french fries, files an FIR: Priyanka Moitra said the fast food outlet’s branch manager ‘showed a careless attitude’ towards the negligence.  
  7. Digital currency bitcoin valued higher than gold for the first time: The development is attributed to an increased demand in China after Beijing imposed restrictions on gold imports.