GST is a big positive, but I'm not investing in India yet: Jim Rogers

As global equitY MARKET NEWS continue on their journey north, JIM ROGERS, chairman of Rogers Holdings tells Puneet Wadhwa that he expects a correction going ahead. His decision of not to invest right now is not India specific, but has to do with the problems relating to how the major global economies are shaping up. Edited excerpts:

India has implemented the biggest tax reform in history - the goods and services tax (GST). What are your thoughts on the development?

With the implementation of GST, Prime Minister Modi has done what he said earlier. If GST can overhaul the tax system in India, it will be wonderful. This is the best thing to have happened to India by a politician since its independence, i.e. since the last 70 years.

What do you expect from the government in its remaining tenure? Do you see populist measures take centre stage with 2019 general elections in mind?

Well, Narendra Modi has done many populist things in the past. I think the last Union Budget had a number of populist measures as well. But, I don't know how populist will the GST will prove to be, as it is likely to disrupt a lot of people's lives. However, in the end, the measure will be good as it will overhaul the tax system in India. With the elections coming up in 2019, I am sure there will be other populist measures. Every politician in the world prepares for elections by giving away as much as he can.

What's your view on India now as an investment destination? Are you planning to invest here?

No, not yet. That's because I am not investing anywhere in the world right now. I am worried about the global financial markets and hence, I am in a wait-and-watch mode. If the United States (US), Japan or any other major market has problems, it will be a bad one. I am worried that the next time we have an economic slowdown, it's going to be very, very bad and will impact everyone. My decision of not to invest right now is not India specific, but has to do with the problems relating to how the major global economies are shaping up.

iPhone 8 to feature new display format with OLED design: Report

Apple's next generation iPhone will not be similar to the display like the previous devices and will sport an 18.5:9 aspect ratio like LG G6.

"The new aspect ratio allows manufacturers to increase the size of a smartphone display while keeping it narrow enough to hold one-handed and still use the keyboard comfortably," Forbes.com reported on Monday.

iPhone 8 is rumoured to sport a bold new design featuring an OLED display without a bezel and the company may also move the fingerprint reader to the back of the phone.

Apple will also bring "True Color iPad Pro" screen technology to its smartphones for the first time that uses advanced four-channel ambient light sensors to automatically adapt the colour and intensity of the display to match the light in your environment.

The full spectral sensing ambient light sensor will be added across the iPhone 7S, iPhone 7S Plus and iPhone 8.
READ MORE

Isro creates history: PSLV-C37 takes off successfully with 104 satellites

The Indian Space Research Organisation (Isro) workhorse PSLV-C37 successfully lifted off from the Sriharikota space port near Chennai carrying 104 satellites with it, a first of its kind effort by any space agency in the world.

With the successful launch today, India scripted history by becoming the first country to launch more than 100 satellites in one go. ISRO made its second successful attempt after the launch of 23 satellites together in June 2015.

PSLV-C37, which was on its 39th mission, took off at 9:28 a.m. and it is carrying the 714 kg CARTOSAT-2 series satellite for earth observation, along with 103 co-passenger satellites.


While 96 co-passenger satellites belong to USA, five are from International customers of ISRO — Israel, Kazakhstan, Netherlands, Switzerland and United Arab Emirates. Antrix Corporation Ltd (ANTRIX), the commercial arm of the ISRO, has made arrangements for the nano-satellites belonging to international customers.

Two other Indian nano satellites are also carried by the rocket, and the total weight it would carry is around 1,378 kg. The nano satellites will provide an opportunity for ISRO technology demonstration payloads, provide a standard bus for launch on demand services, said Isro sources.(Read More)