Daily News Digest:06 July 2019

Pakistani cricketer Shoaib Malik announces his retirement

Pakistan veteran Shoaib Malik has announced his retirement from ODI cricket after 20 years of international cricket career. He will retire with his side's World Cup 2019 campaign ended.

Forex reserves hit new high of USD 427.67 billion

India's foreign exchange reserves swelled by USD 1.262 billion to scale a fresh high of USD 427.678 billion in the week to June 28, RBI data showed On July 5, 2019. It was boosted by higher foreign portfolio investments and a stable rupee.

RBI to regulate housing finance firms replacing National Housing Bank

The Reserve Bank of India (RBI) will now be the regulator of housing finance firms, replacing the National Housing Bank, Finance Minister Nirmala Sitharaman said during her budget speech on July 5, 2019. The RBI`s oversight of HFCs will be a step towards the Indian authorities getting a firmer grip on the risky shadow banking sector that will help to contain any systemic problems.

Babar breaks record for most runs by a Pakistani in a single WC

On July 5, Pakistani batsman Babar Azam became the leading run-scorer for Pakistan in a single World Cup edition, breaking Javed Miandad's record of 437 runs from 1992. Babar, who missed out on his second century of World Cup 2019 by just 4 runs, finished with 474 runs.

Government raises foreign aid to Nepal by 40% to Rs. 1,050 crore

India has increased its annual aid to Nepal for the fiscal year 2019-20 by 40%. According to India's National Budget unveiled on July 5, Nepal will receive Indian rupees 1050 crore for this fiscal year.

PayU buys Singapore e-payments startup, enters Southeast Asia

The Singapore-based Naspers’ global payments and fintech firm, PayU announced the acquisition of a majority stake in Red Dot Payment (RDP), a Southeast Asia-focused online payment solutions provider, in a transaction valuing the latter at $65 million.

With this acquisition, PayU expands into the Southeast Asia region.