In this week’s wrapup, we talk about the rise and fall of MX Player, why the RBI stores its gold in London, Zimbabwe's new currency, the environmental impact of elections and why India is speeding up visa approvals for the Chinese.

Here’s a recap.

How is Amazon buying MX Player for dirt cheap?

A few years ago MX Player was one of those apps that helped you play any kind of video file on your phone, whether it was a movie you downloaded or something that your friend sent you via WhatsApp. Its popularity was so widespread that Indians loved it despite being a Korean app and its valuation had hit a whopping ₹1,000 crores.

But now, Amazon is mulling over buying the once far-famed app for nearly half that price! So, what dragged MX Player down?

We wrote about it in Monday's newsletter. You can read it here.

The real reason why RBI stores its gold in London

Last week the RBI said that it moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24. And the media painted it as one of the largest movements of gold by India since 1991.

But wait... Why keep it in the UK and what good is this gold if it’s stored abroad?

We answered that question from a different perspective in Tuesday's newsletter here.

Can Zimbabwe's new currency help tackle its hyperinflation?

Zimbabwe has been fighting hyperinflation ever since its independence from the British in 1980. It's simply a term used to describe excessive price rise, usually over 50% month over month. But in Zimbabwe 50% was an understatement. For context, its inflation had touched a whopping 79.6 billion per cent month-on-month at its peak! And none of its currency reforms have seemed to work.

But now the South African nation has come up with a new plan ― a new currency called ZiG or Zimbabwe Gold. And the government thinks that this can fight its inflation woes. Can it?

Head over to Wednesday's newsletter to find out.

Do Indian elections care about climate change?

Over the last six weeks, over 64 crore people voted in the world’s largest elections. That’s 1 out of every 13 people living in the world. But there was one discussion that was completely out of the picture ― climate change. Or how the environmental impacts of elections contribute to climate change.

So we wrote about it on Thursday. You can read it here.

Why is India expediting visa applications from China?

A few months ago, the Indian government did something baffling. It simplified and even sped up visa approvals for Chinese folks travelling to India.

But wait... The India-China relationship is a bit too bitter for India to extend that privilege to the Chinese. Then why the heck is it making it easier for the Chinese to travel to India?

You'll have to read our Friday's newsletter to find out.

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That's it from us this week. Have a great weekend!

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