News digest: Trade war, stock markets, smartphone penetration, and more

Global trade war spooks markets; Sensex dips 1.2%, Nifty lowest since Oct The Indian markets came under pressure on Friday amid a sell-off in global equities due to escalating trade tensions between the US and China. The feud between the two largest economies of the world raised concerns of slowing global economic growth and weak corporate earnings. Read more here Battle for Essar Steel: ArcelorMittal removed as promoter of Uttam Galva ArcelorMittal has been declassified as a promoter of Uttam Galva Steels from the stock exchanges, a technical procedure that made it ineligible as a bidder for Essar Steel. Click here to know more States with higher literacy rates prefer smartphones over feature phones Are consumers who can read and write more likely to pick a smartphone? Is literacy a definitive factor in their preferences when it comes to choosing a mobile phone? Prima facie, it appears to be so. While there is no concrete study on a co-relation between literacy and smartphone sales, the data suggest that regions with a higher rate of literacy are the ones with stronger smartphone penetration.

Read more here Dantewada's Education City is kindling dreams for kids affected by Naxalism The thought of the long school break ahead does not bring cheer to 11-year-old Sunil Mandavi, a student at Education City in Chhattisgarh’s restive Dantewada district. He, along with his two younger brothers and two sisters, will remain in hostel during the vacation. Click here to know more Need to give quality education in India to students who fly overseas: Rajan Eminent economist and former Reserve Bank of India (RBI) governor Raghuram Rajan is part of an elite group that launched a unique undergraduate liberal arts private university. In an exclusive chat with Anup Roy and Nikhat Hetavkar, Rajan says there is a need to give quality education in India to students who fly overseas every year. Read the edited excerpts here