Corporate News

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Govt to set up ETF to meet disinvestment target

The government has said it will set up a new exchange traded fund (ETF) to sell its shares in public sector undertakings (PSUs) and other private companies, as part of its ?56,500 crore disinvestment target for the 2016-17 fiscal. ETFs are investment vehicles which hold assets like stocks or bonds and are traded on a stock exchange. Business News



London council to employ digital employee Amelia

Digital employee named 'Amelia' will be employed by the Enfield Council in London later this year to answer customer queries. Created by US-based company IPsoft, the virtual assistant can analyse natural language, understand context, apply logic, learn, resolve problems and even sense emotions. If Amelia cannot answer a question, it calls the human colleagues and learns from them. Placement newss



California becomes world's sixth-largest economy

California is now reportedly the sixth-largest economy in the world with its gross state product at $2.46 trillion, leapfrogging France, which dropped to seventh, with a GDP of $2.42 trillion. The most populous US state is also ahead of India, which is in eighth place with a GDP of $2.09 trillion. Notably, California is home to Hollywood and Silicon Valley. Overseas News



RBI bigger than any Governor: Rajan

The RBI is "bigger than any Governor" and it is important "not to personalise this office", the central bank's Governor Raghuram Rajan said in an interview with the Economist magazine. Meanwhile, Rajan's decision to not renew his term could lead to sharp volatility in the currency and equity markets in the near term, but would smoothen out eventually, analysts said.Economy News


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