10 things to know this week- Dec 23, 2016

Here are the ten interesting things to know this week, ended Dec 23, 2016.

India:

1) My Favorite Fanatics of 2016 – Bill Gates
Nandan Nilekani is in Bill Gates ‘Favorite Fanatics of 2016’ list, who says that he is amazed by Nandan’s service to philanthropy and public service. Read more: [Gates Notes]

2) How Modi government lobbied Moody’s for a ratings upgrade, but failed
India criticised Moody’s ratings methods and pushed aggressively for an upgrade, documents reviewed by Reuters show, but the US-based agency declined to budge citing concerns over the country’s debt levels and fragile banks. Read more: [Economic Times]

3) Rs 7.4 lakh cr debt at write-off risk; keep a watch on the banks in distress
Domestic lenders run the risk of taking a significant haircut if things turn ugly for the risky corporate groups, which account for one-fourth of the whopping Rs 30.2 lakh crore corporate debt outstanding at last count. Read more: [Economic Times]

4) Stick with stocks of enduring brands for big returns through thick & thin
Companies with enduring brands generally have a diversified portfolio, sell their products worldwide and generate consistent revenue and operating profit margins. Read more: [Economic Times]

5) Should you invest in index funds?
Passive fund management has earned great name for itself in 2016 in developed markets. Actively-managed mutual funds have struggled to beat passively-managed funds during the year. Read more: [Economic Times]

6) Continued strong growth, improving cash flows make Techno Electric stock analysts’ top pick
Techno Electric & Engineering Company, which provides engineering, procurement and construction (EPC) services to the power sector, has been consistently reporting industry leading growth. Read more: [Economic Times]

Global:

7) 54 years later, Buffett’s Berkshire Hathaway crosses $250,000 a share
A-class shares of the Buffett’s Berkshire Hathaway briefly passed $250,000 in morning trade Tuesday, a landmark eclipsed 54 years and a day after Buffett bought his first Berkshire shares and began the march toward turning the company into a giant. Read more: [CNBC]

8) The Trump rally may be getting an artificial boost that could end abruptly in January
In December, investors often take profits on their stock winners in order to lock in their capital gains taxes for the year. That’s not happening. Read more: [CNBC]

9) Wall Street economists are doubtful the Fed will deliver on rate hikes
Officials will raise the Fed’s key short-term rate just twice in 2017, starting with a move in June, an FT survey of 31 Wall Street economists found. Read more: [CNBC]

10) Finland will soon hand out cash to 2,000 jobless people — the idea, universal basic income, is gaining traction
The Finnish government plans to randomly select about 2,000 unemployed people to give them benefits automatically, The New York Times reports. Read more: [CNBC]

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