QUOTE
“Experts often refuse to speak truth to power. After policy actions, they try hard to endorse the decisions already taken. As a result, we in the government do not really benefit from their wisdom” Chief Economic Advisor
Arvind Subramanian
NOD FOR SNAPDEAL SALE
Japan’s SoftBank is reported to have got approval from Nexus Venture Partners for sale of Snapdeal to Flipkart. SoftBank, which is the largest shareholder in Snapdeal, had secured the go-ahead from the founders last month. However, Nexus had problems with the valuation.
ESSAR-ROSNEFT DEAL IN TROUBLE?
Russia’s oil firm Rosneft is finding it tough to close its $12.9 billion acquisition of Essar Oil Ltd, according to media reports. Six of Essar’s Indian creditors are yet to approve the deal, they said. The deal is important for…