Business http://www.theweek.in/news/biz-tech.rss en Fri Jun 17 11:00:18 IST 2022 https://www.theweek.in/privacy-an-settlement.html pratap-pawar-of-sakal-media-group-elected-abc-chairman <a href="http://www.theweek.in/news/biz-tech/2022/09/16/pratap-pawar-of-sakal-media-group-elected-abc-chairman.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/sports/images/2022/9/17/Pratap-Pawar.jpg" /> <p>Pratap Pawar, the chairman of the Sakal Media Private Ltd. which publishes Marathi daily newspaper SAKAL, was unanimously elected chairman of Audit Bureau of Circulations (ABC) for 2022-2023.</p> <p>&nbsp;</p> <p>Pawar was the former president of The Mahratta Chamber of Commerce, Industries &amp; Agriculture, Pune. He is on the Board of several national and International organisations.</p> <p>&nbsp;</p> <p>Pawar was awarded Padma Shri in 2014.</p> <p>&nbsp;</p> <p>Meanwhile, Srinivasan K Swamy, chairman and managing director of R K Swamy Pvt Ltd, was unanimously elected deputy chairman.</p> <p>&nbsp;</p> <p>Members on the Bureau’s Council of Management for the year 2022-2023 are:</p> <p>&nbsp;</p> <p><b>Publishers representatives</b></p> <p>&nbsp;</p> <p>1.</p> <p>Pratap G. Pawar - Sakal Papers Pvt. Ltd. – Chairman</p> <p>2.</p> <p>Riyad Mathew - Malayala Manorama Co. Ltd. - Hony. Secretary</p> <p>3.</p> <p>Hormusji N. Cama – The Bombay Samachar Pvt. Ltd.</p> <p>4.</p> <p>Shailesh Gupta - Jagran Prakashan Ltd</p> <p>5.</p> <p>Praveen Someshwar – HT Media Ltd.</p> <p>6.</p> <p>Mohit Jain – Bennett, Coleman &amp; Co. Ltd.</p> <p>7.</p> <p>Dhruba Mukherjee – ABP Pvt. Ltd.</p> <p>8</p> <p>Karan. Darda - Lokmat Media Pvt. Ltd</p> <p>&nbsp;</p> <p><b>Advertising agencies representatives</b></p> <p>&nbsp;</p> <p>1.</p> <p>Srinivasan K Swamy, RK Swamy Pvt. Ltd. – Dy. Chairman</p> <p>2.</p> <p>Vikram Sakhuja, Madison Communications Pvt. Ltd. – Hony. Treasurer</p> <p>3.</p> <p>Shashidhar Sinha, IPG Media Brands, Media Brands Pvt. Ltd.</p> <p>4.</p> <p>Prasanth Kumar, Group M Media India Private Limited</p> <p>&nbsp;</p> <p><b>Advertisers representatives</b></p> <p>&nbsp;</p> <p>1.</p> <p>Debabrata Mukherjee, United Breweries Ltd.</p> <p>2.</p> <p>Karunesh Bajaj, ITC Ltd.</p> <p>3.</p> <p>Aniruddha Haldar, TVS Motor Company Ltd.</p> <p>4.</p> <p>Shashank Srivastava, Maruti Suzuki India Ltd.</p> <p>&nbsp;</p> <p><b>Secretariat</b></p> <p>&nbsp;</p> <p>Hormuzd Masani – Secretary General</p> http://www.theweek.in/news/biz-tech/2022/09/16/pratap-pawar-of-sakal-media-group-elected-abc-chairman.html http://www.theweek.in/news/biz-tech/2022/09/16/pratap-pawar-of-sakal-media-group-elected-abc-chairman.html Sat Sep 17 00:08:05 IST 2022 with-acc-ambuja-acquisition-adani-group-aims-to-become-most-profitable-cement-maker <a href="http://www.theweek.in/news/biz-tech/2022/09/19/with-acc-ambuja-acquisition-adani-group-aims-to-become-most-profitable-cement-maker.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/5/16/holcim_adanif.jpg" /> <p>The Gautam Adani-led Adani Group has, over the years, emerged as the largest player in sectors ranging from airports to ports and logistics to solar energy. Now, Adani has set his sights on becoming the most profitable cement manufacturer in the country.</p> <p><a title="Adani gets control of Ambuja Cement with $10.5 bn Holcim deal" href="https://www.theweek.in/news/biz-tech/2022/05/16/adani-to-acquire-holcim-india-assets-for-dollar105-bn.html">Switzerland-based Holcim</a>, last week, completed the sale of cement companies ACC and Ambuja to Adani Group for $6.4 billion, in what is pegged to be India’s largest ever inbound mergers and acquisitions (M&amp;A) deal in the infrastructure and materials space. Adani Group had no presence in the cement sector. The deal has catapulted the group to become the second largest cement maker in the country, behind Aditya Birla Group's UltraTech. Gautam Adani said the <a title="Adani becomes India's second largest cement player" href="https://www.theweek.in/wire-updates/business/2022/09/17/dcm2-adani-group.html">group's entry into the cement market fits well</a>, given its presence in related areas like infrastructure and logistics.</p> <p>“Cement is an attractive adjacency to our infrastructure business, especially the group’s ports and logistics business, green energy business and the e-commerce platform being developed. These adjacencies give us significant competitive advantage and put us in a position to gain unmatched scale,” Adani said in his address to the group's employees.</p> <p>India is the second largest producer of cement in the world. However, its per capita consumption of cement is just 250 kg, compared with China’s 1,600 kg, Adani pointed out, justifying the group’s foray into the sector.</p> <p>“There is almost 7x headroom for growth. Furthermore, as several of the government programmes gather momentum, the long-term average growth in cement demand is expected to be 1.2 to 1.5 times the GDP. We anticipate growing at twice this number,” he said.</p> <p>Adani Group plans to double the cement manufacturing capacity to 140 million tonnes from the current 70 million tonnes over the next five years.</p> <p>The group has made several acquisitions in the past across sectors, the learnings from which should help boost profits in the cement business, said Adani.</p> <p>“Adani Group’s competencies in driving operational efficiencies is second to none and we will benefit from the learnings of the several acquisitions we have made over the past years. As a result, we expect significant margin expansion to become the most profitable cement manufacturer in the country,” he said.</p> <p>Shares of Ambuja Cement surged 9.4 per cent on Monday to close at Rs 564.95. ACC was up 1.1 per cent at Rs 2,643. Over the past three months alone, Ambuja Cement has surged over 58 per cent and ACC has rallied more than 28 per cent.</p> <p>Shares of other Adani Group companies too have rallied over the past year. While Adani Enterprises shares have jumped closed to 166 per cent, Adani Power has rallied 310 per cent. Similarly, Adani Green is up 107 per cent, Adani Transmission gained 133 per cent and Adani Ports is up over 28 per cent. Adani Total Gas has also risen 162 per cent.</p> <p>The massive rally in Adani Group shares has <a title="Gautam Adani, Karuna Nundy named among TIME's 100 Most Influential People of 2022" href="https://www.theweek.in/news/india/2022/05/23/gautam-adani-karuna-nundy-named-among-times-100-most-influential-people-of-2022.html">lifted Adani’s fortunes</a>. According to the Forbes Real-Time Billionaires List, Gautam Adani was the second richest in the world, with a net worth of $153.5 billion after markets closed on Monday. He was just ahead of Bernard Arnault, the chairman and co-founder of French luxury goods maker LVMH.</p> <p>Elon Musk, the founder of Tesla and SpaceX, is the richest in the world with a net worth of $273.2 billion.</p> <p>Over the past few years, Adani Group’s debt has risen amid its rapid business expansion raising concerns among some analysts. However, Adani said the group’s finances are “stronger than ever before” and they continue to raise billions of dollars from the international market and strategic partners to further accelerate growth.</p> <p>“We are now the world’s largest solar power company and leading the greening of India. We are also leading the global green hydrogen story, having committed $70 billion to this business. We are the largest airports operator in the nation with 25 per cent of the passenger traffic and 40 per cent of our air cargo. We are the largest ports and logistics company with a 30 per cent national market share. We are India’s largest integrated energy player, spanning generation, transmission, distribution, LNG, LPG, city gas and piped gas distribution,” noted Adani.</p> <p>He observed that each of these businesses was growing at a double-digit rate. The group has also won some of the largest road contracts in the country and is well on the way to become the largest player in the sector, he said.</p> <p>The initial public offering of edible oil maker Adani Wilmar also made it the highest valued fast-moving consumer goods company in the country.</p> <p>Adani said the group has declared its path forward in multiple new sectors, including data centres, aerospace and defence, metals and petrochemicals. The group also plans to build a superapp.</p> http://www.theweek.in/news/biz-tech/2022/09/19/with-acc-ambuja-acquisition-adani-group-aims-to-become-most-profitable-cement-maker.html http://www.theweek.in/news/biz-tech/2022/09/19/with-acc-ambuja-acquisition-adani-group-aims-to-become-most-profitable-cement-maker.html Mon Sep 19 18:07:13 IST 2022 domestic-air-passenger-traffic-rises-to-1-01-crore-in-august <a href="http://www.theweek.in/news/biz-tech/2022/09/16/domestic-air-passenger-traffic-rises-to-1-01-crore-in-august.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/Air-India-seat-plane-shut.jpg" /> <p>Indian airlines carried 1.01 crore passengers in August, reflecting a more than 4 per cent growth in domestic air traffic compared to the previous month.</p> <p>&nbsp;</p> <p>The carriers flew 97.05 lakh passengers in July.</p> <p>&nbsp;</p> <p>&quot;Passengers carried by domestic airlines during January-August 2022 were 770.70 lakh as against 460.45 lakh during the corresponding period of previous year thereby registering annual growth of 67.38 per cent and monthly growth of 50.96 per cent,&quot; DGCA said on Friday.</p> <p>&nbsp;</p> <p>In August, IndiGo remained the country's largest airline with a market share of 57.7 per cent, followed by Vistara with a share of 9.7 per cent, which was lower than 10.4 per cent registered in July, as per DGCA data.</p> <p>&nbsp;</p> <p>IndiGo's market share declined from 58.8 per cent in July.</p> <p>&nbsp;</p> <p>The country's new airline Akasa, which started operations on August 7, garnered a 0.2 per cent market share.</p> <p>&nbsp;</p> <p>Last month, Air Asia was on top in terms of On-Time Performance (OTP) while SpiceJet had the highest passenger load factor.</p> <p>&nbsp;</p> <p>After being severely hit by the coronavirus pandemic, the country's civil aviation sector is on the recovery path.</p> <p>&nbsp;</p> <p>The data from the Directorate General of Civil Aviation (DGCA) showed that Go First's market share rose to 8.6 per cent in August from 8.2 per cent in July. During the same period, the share of Air India marginally increased to 8.5 per cent from 8.4 per cent.</p> <p>&nbsp;</p> <p>SpiceJet saw its market share dip to 7.9 per cent in August from 8 per cent in July, and during the same period, the share of Air Asia jumped to 5.8 per cent from 4.6 per cent.</p> <p>&nbsp;</p> <p>As per the data, the market share of Alliance Air remained flat at 1.2 per cent in August.</p> <p>&nbsp;</p> <p>In terms of OTP, Air Asia was on top at 93.3 per cent followed by Vistara (91.4 per cent), Air India (87.9 per cent) and IndiGo (85.5 per cent). The OTP of SpiceJet was 79.1 per cent, Go First 74.9 per cent and Alliance Air 72.1 per cent.</p> <p>&nbsp;</p> <p>OTP for scheduled domestic airlines is computed for four metro airports -- Bangalore, Delhi, Hyderabad and Mumbai.</p> <p>&nbsp;</p> <p>SpiceJet had the highest passenger load factor at 84.6 per cent in August while that of Vistara and IndiGo stood at 84.4 per cent and 78.3 per cent, respectively.</p> <p>&nbsp;</p> <p>The passenger load factor, an indicator of seat occupancy, was 81.6 per cent for Go First, 73.6 per cent for Air India, 74.9 per cent for Air Asia and 65.5 per cent for Alliance Air.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/16/domestic-air-passenger-traffic-rises-to-1-01-crore-in-august.html http://www.theweek.in/news/biz-tech/2022/09/16/domestic-air-passenger-traffic-rises-to-1-01-crore-in-august.html Fri Sep 16 15:46:48 IST 2022 national-logistics-policy-key-step-towards-making-of-developed-india-pm-modi <a href="http://www.theweek.in/news/biz-tech/2022/09/17/national-logistics-policy-key-step-towards-making-of-developed-india-pm-modi.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/india/images/2022/5/1/narendra-modi-pti010522.jpg" /> <p>Global experts are impressed by India's extraordinary talent ecosystem, Prime Minister Narendra Modi said as he launched the National Logistics Policy (NLP) on Saturday. The policy seeks to address challenges facing the transport sector and reduce the logistics cost for improving the competitiveness of Indian goods both in domestic and export markets.</p> <p>&nbsp;</p> <p>Modi called the policy launch a significant step in fulfilling the <i>pran</i> of India being a developed country. “To ensure quick last mile delivery, end transport-related challenges, save time and money of the manufacturers, prevent wastage of the agro-products, concerted efforts were made and one of the manifestations of those efforts is today’s National Logistics Policy,” he said.</p> <p>&nbsp;</p> <p>The prime minister said that the policy will bring new energy to all sectors. “Today’s India prepares the ground before bringing any policy, only then a policy can be implemented successfully. National Logistics Policy has not come out of the blue and there were eight years of hard work behind it. There are policy changes, major decisions, and, if I talk about myself, it has my 22 years of governance experience behind it,” he said.</p> <p>&nbsp;</p> <p>Referring to the release of eight Namibian cheetahs at Madhya Pradesh's Kuno National Park in the morning, Modi said: &quot;There is a connection between the launch of the National Logistics Policy and the release of cheetahs on the same day. We want our logistics to move at the same speed as the Cheetah. The country wants to move at the same fast speed.”</p> <p>&nbsp;</p> <p>Modi claimed that schemes like Sagarmala and Bharatmala expedited the work of dedicated freight corridors to improve logistics connectivity for systematic infrastructure development. The total capacity of Indian ports has increased significantly and the average turn-around time of container vessels has come down from 44 hours to 26 hours, he said.</p> <p>&nbsp;</p> <p>For promoting export, 40 air cargo terminals have been constructed while 30 airports have been provided cold-storage facilities. Thirty-five multi-modal hubs are coming up in the country, said Modi. “Through waterways, we can do eco-friendly and cost-effective transportation, for this many new waterways are also being built in the country,” he said.</p> <p>&nbsp;</p> <p>The prime minister stressed on the need to adopt technology to strengthen the logistic sector and said the government has worked towards initiatives like paperless EXIM trade process through e-sanchit, faceless assessment for customs, provisions for e-way bills and FASTag that have greatly increased the efficiency of the logistics sector. Modi also underlined the importance of a unified tax system like GST in smoothening the issues of the logistics sector.</p> <p>&nbsp;</p> <p>“From 13-14 per cent logistics cost, we should all aim to bring it to single-digit as soon as possible. This, in a way, is a low-hanging fruit, if we have to become globally competitive,” the prime minister said.</p> <p>&nbsp;</p> <p>Modi said that Unified Logistics Interface Platform (ULIP) will bring all the digital services related to the transportation sector into a single portal. He also pointed out that the PM Gatishakti National Master Plan will be supporting the National Logistics Policy in all earnest.</p> <p>&nbsp;</p> <p>“Gatishakti and National Logistics Policy together are now taking the country towards a new work culture. The talent that will come out of the recently approved Gatishakti University will also help it a lot,” he added.</p> <p>&nbsp;</p> <p>Modi said the world is looking at India as a 'democratic superpower'. “Today the world's attitude towards India is changing. Today the world is evaluating India very positively, it is keeping a lot of expectations from India,” he said.</p> <p>&nbsp;</p> <p>The prime minister remarked that the resilience shown by India and the Indian economy in the midst of a global crisis has filled the world with new confidence.</p> <p>&nbsp;</p> <p>“The reforms that India has done in the last years, the policies implemented are unprecedented. That is why the faith of the world has increased in us,” he said.</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/17/national-logistics-policy-key-step-towards-making-of-developed-india-pm-modi.html http://www.theweek.in/news/biz-tech/2022/09/17/national-logistics-policy-key-step-towards-making-of-developed-india-pm-modi.html Sat Sep 17 20:56:19 IST 2022 air-canada-to-buy-30-electric-planes-from-heart-aerospace <a href="http://www.theweek.in/news/biz-tech/2022/09/16/air-canada-to-buy-30-electric-planes-from-heart-aerospace.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/Air-Canada-Boeing-787-Dreamliner-flying-high-above--clouds-shut.jpg" /> <p>Air Canada on Thursday said it would purchase 30 regional electric-hybrid airplanes from from Swedish start-up Heart Aerospace as part of its plans to tackle climate change, reports Reuters.&nbsp;&nbsp;</p> <p>&nbsp;</p> <p>The battery-powered ES-30 regional aircraft under development will have capacity for up to 30 passengers and generate zero emissions when they enter service, which is expected in 2028, Canada's largest carrier said in a release.&nbsp; Canada's largest airline will also acquire $5 million equity stake in Heart Aerospace.</p> <p>&nbsp;</p> <p>&quot;The introduction into our fleet of the ES-30 electric regional aircraft from Heart Aerospace will be a step forward to our goal of net zero emissions by 2050,&quot; said Michael Rousseau, President and Chief Executive Officer of Air Canada. &quot;Already, Air Canada is supporting the development of new technologies, such as sustainable aviation fuels and carbon capture, to address climate change. We are now reinforcing our commitment by investing in revolutionary electric aircraft technology, both as a customer for the ES-30 and as an equity partner in Heart Aerospace.&quot;</p> <p>&nbsp;</p> <p>The aircraft will have lithium-ion batteries with an electric range of 200 kilometres and also equipped with reserve-hybrid generators that can use sustainable aviation fuel. With generators providing additional power, the range extends to 400 kilometres. The ES-30 will have a fully electric zero emissions and fly up to 800 kilometers with 25 passengers. Heart Aerospace aims to create the world’s greenest, most affordable, and most accessible form of transport.</p> <p>&nbsp;</p> <p>The United Airlines had said in July 2021 that it would buy 100 19-seat ES-19 electric planes&nbsp; from Heart Aerospace for regional routes. The The US carrier said in a press release it was investing an undisclosed amount in the company with Bill Gates' Breakthrough Energy Ventures and Mesa Airlines.</p> <p>&nbsp;</p> <p>Flying is the most carbon-intensive activity one can make. Airlines all over the world face mounting pressure from regulators and environmental groups over greenhouse gas emissions driving global climate change.&nbsp;</p> <p>&nbsp;</p> <p>The aviation industry growing at a rapid pace, is harming the planet because it contributes to global warming, pollution, and leaves a huge carbon footprint. According to a report in 2018, aircrafts were responsible for about 3 percent of total US carbon dioxide emissions and nearly 9 percent of greenhouse gas emissions from the US transportation sector.</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/16/air-canada-to-buy-30-electric-planes-from-heart-aerospace.html http://www.theweek.in/news/biz-tech/2022/09/16/air-canada-to-buy-30-electric-planes-from-heart-aerospace.html Fri Sep 16 14:55:48 IST 2022 on-his-birthday-modi-to-launch-national-logistics-policy-how-will-it-benefit-india <a href="http://www.theweek.in/news/biz-tech/2022/09/16/on-his-birthday-modi-to-launch-national-logistics-policy-how-will-it-benefit-india.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2020/1/28/logistics.jpg" /> <p>The cheetahs may get more flashbulbs and TV minutes as Prime Minister Narendra Modi will release <a title="11-hour flight, quarantine, trackers: Journey of 8 Namibian cheetahs to India explained" href="https://www.theweek.in/news/india/2022/09/16/11-hour-flight-quarantine-trackers-journey-namibian-cheetahs-india-explained.html">the big cats brought from Namibia</a> in Madhya Pradesh's Kuno National Park, but it will be another launch by the PM on his birthday on Saturday that has bigger significance on the nation’s progress.</p> <p>The National Logistics Policy (NLP) set to be unveiled on Saturday would eventually, and hopefully, expedite the process of development and prosperity.</p> <p>First announced in the <a title="Govt may consider unveiling national logistics policy in budget 2020" href="https://www.theweek.in/news/biz-tech/2020/01/28/govt-may-consider-unveiling-national-logistics-policy-in-budget-2020.html">2020 Union budget</a> by Finance Minister Nirmala Sitharaman, the NLP is a milestone in national policy making. Simply put, it aims at speeding up the seamless movement of goods across the country, through digitisation and re-engineering of transport and storage, as well as ramping up investments in anything ranging from storage and warehouses to multi-modal transport systems.</p> <p>“An effective and efficient logistics ecosystem has the potential to promote domestic and international trade, boost global competitiveness, raise incomes, push the 'Make in India' initiative, and reduce economic disparities among regions,” said Anshuman Singh, chairman and managing director, Stellar Value Chain Solutions.</p> <p>If logistics sounds a wee bit technical, consider this. Sending goods and products from one point in the country (say the producing factory or farm) to another (the end consuming city, or if it is for export, the seaport or airport)—ranging anything from rice, wheat and vegetables to finished products like cars and computers—costs a lot more than most other leading economies.</p> <p>In fact, according to Commerce and Industries Minister Piyush Goyal, India spends as much as 14 per cent of its GDP on these <a title="Industry body urges Bengal govt to expedite state logistics policy" href="https://www.theweek.in/wire-updates/business/2022/09/13/ccm8-biz-wb-logistics-industry-body.html">logistics costs</a>, compared to Germany and Japan, who, thanks to their developed infrastructure and logistics system, spend just about 8 per cent.</p> <p>According to a World Bank estimate in 2018, India ranked 44th in logistics costs, way behind China which was at the 14th position.</p> <p>Now, think of an interconnected system of transport and storage facilities to ease the situation, all helped by digitised processes which speed up movement of cargo, right up to clearances needed and onward movement (say, for exports). You are looking not just at time saved, but cost savings on fuel, cargo vehicles as well as idle hours spent waiting for permissions. Think a lot more warehouses (including refrigerated storage for perishable goods), multi-model transport, highways and freight corridors, all linked through government-backed technology and simplified rules.</p> <p>The aim of the new policy is to reduce the indirect logistics cost by 10 per cent, which in turn is expected to contribute as much as 8 per cent more margin to exports. This will be achieved by a variety of measures, including digitally connecting roads, railways, airports, seaports, customs and concerned ministries to ease cargo movement.</p> <p>“The NLP will also take considerable steps to address the issue of Indian ports and airports having longer dwell times than the world norm,” said Singh of Stellar Value Chain Solutions.</p> <p>As part of NLP, the government will also put in place a ‘System Improvement Group’, which will monitor all logistics-related projects regularly to ensure there aren’t any delays or hurdles.</p> <p>While the government is paying close attention to developing infrastructure through projects like ‘Gati Shakti’, NLP goes one step ahead. “It can bring all key stakeholders of the logistics supply chain on a unified platform and strengthen technology interventions,” said Ravi Jakhar, chief strategy officer at Allcargo Logistics, who said the impact of NLP will be similar to what UPI did to mobile payments and what ONDC might do to e-commerce. “(If a) similar approach is taken for logistics, we can expect a significant boost to the ecosystem which can bolster supply chains in the country, making them more agile and interconnected.”</p> http://www.theweek.in/news/biz-tech/2022/09/16/on-his-birthday-modi-to-launch-national-logistics-policy-how-will-it-benefit-india.html http://www.theweek.in/news/biz-tech/2022/09/16/on-his-birthday-modi-to-launch-national-logistics-policy-how-will-it-benefit-india.html Fri Sep 16 19:45:28 IST 2022 germany-takes-control-of-3-russian-owned-oil-refineries <a href="http://www.theweek.in/news/biz-tech/2022/09/16/germany-takes-control-of-3-russian-owned-oil-refineries.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/Oil-refinery-PCK-Raffinerie-GmbH-Rosneft-in-Schwedt-Germany-AP.jpg" /> <p>&nbsp;</p> <p>Germany is taking control of three Russian-owned refineries in the country to ensure energy security before an embargo on oil from Russia takes effect next year, officials said on Friday.</p> <p>&nbsp;</p> <p>The Economy Ministry said in a statement that Rosneft Deutschland GmbH and RN Refining and Marketing GmbH will be put under the administration of Germany's Federal Network Agency.</p> <p>&nbsp;</p> <p>As a result, the agency will also control the companies' shares in three refineries: PCK Schwedt, MiRo and Bayernoil, located in the east and south of the country.</p> <p>&nbsp;</p> <p>Rosneft accounts for about 12 per cent of Germany's oil refining capacity, importing several hundred million euros' (dollars') worth of oil from Russia every month, the ministry said.</p> <p>&nbsp;</p> <p>It said the move would help ensure continued energy supplies and was initially due to last for six months.</p> <p>&nbsp;</p> <p>Rosneft had previously made clear it had no intention to end the import of Russian oil, despite a looming EU embargo coming into force on January 1, 2023.</p> <p>&nbsp;</p> <p>The ministry said a long-term plan will also be announced for the future of the PCK refinery in Schwedt, which employs about 12,000 people and provides petroleum products to much of northeastern Germany including Berlin.&nbsp;</p> <p>&nbsp;</p> <p>(AP)&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/16/germany-takes-control-of-3-russian-owned-oil-refineries.html http://www.theweek.in/news/biz-tech/2022/09/16/germany-takes-control-of-3-russian-owned-oil-refineries.html Fri Sep 16 12:25:03 IST 2022 no-more-crying-over-spoiled-milk-declare-indian-scientists-after-breakthrough <a href="http://www.theweek.in/news/biz-tech/2022/09/15/no-more-crying-over-spoiled-milk-declare-indian-scientists-after-breakthrough.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/15/milk-reuters.jpg" /> <p>Why cry over spoiled milk? The Centre for Science and Industrial Research (CSIR) has announced that it will soon unveil a technology that can help people identify whether a packet of milk has gone bad or not.</p> <p>&nbsp;</p> <p>Without opening the packet or buying it!</p> <p>&nbsp;</p> <p>The new technology from the government's premier scientific research body was unveiled at the World Dairy Summit, the biggest global lacto-agro business event in the world that is presently ongoing on the outskirts of the national capital.</p> <p>&nbsp;</p> <p>Professor Rajeshwar S. Matche, chief scientist and head (food packaging and technology) at CSIR'S Central Food Technological Research Institute (CFTRI) in Mysuru explained the dilemma, “Ordinary people of India face this basic problem of buying a packet of milk which is spoiled, but can’t identify at the outlet itself. So, when the packet is opened at home for boiling the milk, only then they get to know of spoilage. They end up feeling cheated.”&nbsp;</p> <p>&nbsp;</p> <p>The solution from CSIR is a label-based easy to use technology. The Mysuru division had started working on this specific issue based on market feedback and has so far tested the new technology, titled 'Time temperature-based spoilage indicator testing' on milk, meat as well as idli and dosa batter.&nbsp;</p> <p>&nbsp;</p> <p>The per-packet costing of this new technology will be just around 20-25 paise, according to Matche, making it pretty well affordable enough to be implemented on a mass scale across the country soon.&nbsp;</p> <p>&nbsp;</p> <p>“We are sensitive to both the issues of our people and affordability of that solution. The food items that have been tested so far are used at mass scale, so we were sure about one thing from the beginning that the technology has to be affordable,” added Sridevi Annapurna Singh, director, CSIR-CFTRI.</p> <p>&nbsp;</p> <p>With technology in hand, CSIR is working with a technology company to automate the process, as manual sticking of label on milk or other food item packet can slow down the process. Currently, labels can be put on only 60 milk packets per minute through manual intervention. Once the automation process is perfected, CSIR plans to roll out the radical technology not just within the country, but also for overseas markets.</p> <p>&nbsp;</p> <p>The IDF World Dairy Summit was inaugurated by Prime Minister Narendra Modi on Monday. It is coming back to India after nearly half-a-century – it was last held in India in 1974. The event then, in a way, was instrumental in India's progress in becoming self-sufficient in milk production, and the whole Operation Flood that was to follow.</p> http://www.theweek.in/news/biz-tech/2022/09/15/no-more-crying-over-spoiled-milk-declare-indian-scientists-after-breakthrough.html http://www.theweek.in/news/biz-tech/2022/09/15/no-more-crying-over-spoiled-milk-declare-indian-scientists-after-breakthrough.html Thu Sep 15 17:32:52 IST 2022 d-street-bleeds-sensex-nifty-tank-nearly-2-pc-amid-weak-global-markets <a href="http://www.theweek.in/news/biz-tech/2022/09/16/d-street-bleeds-sensex-nifty-tank-nearly-2-pc-amid-weak-global-markets.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2020/3/12/bear-market.jpg" /> <p>Benchmark indices faced severe drubbing on Friday, with the Sensex and Nifty falling nearly two per cent each amid feeble global market trends.</p> <p>Foreign fund outflows and fears of recession in the global economy have dented investor sentiments.</p> <p>Falling for the third day in a row, the 30-share BSE Sensex tanked 1,093.22 points or 1.82 per cent to settle at 58,840.79. During the day, it tumbled 1,246.84 points or 2 per cent to 58,687.17.</p> <p>The NSE Nifty declined 346.55 points or 1.94 per cent to close at 17,530.85.</p> <p>From the Sensex pack, Tech Mahindra and UltraTech Cement fell over 4 per cent each, emerging as the major laggards.</p> <p>Among others to settle in the negative territory were Infosys, Mahindra &amp; Mahindra, Wipro, TCS, Nestle and Reliance Industries.</p> <p>IndusInd Bank emerged as the only gainer.</p> <p>Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower.</p> <p>European bourses were mostly quoting in the negative territory. The US markets had ended lower on Thursday.</p> <p>Meanwhile, the international oil benchmark Brent crude climbed 0.32 per cent to USD 91.13 per barrel.</p> <p>Foreign institutional investors offloaded shares worth a net Rs 1,270.68 crore in the domestic market on Thursday, according to data available with the BSE.</p> http://www.theweek.in/news/biz-tech/2022/09/16/d-street-bleeds-sensex-nifty-tank-nearly-2-pc-amid-weak-global-markets.html http://www.theweek.in/news/biz-tech/2022/09/16/d-street-bleeds-sensex-nifty-tank-nearly-2-pc-amid-weak-global-markets.html Fri Sep 16 16:28:41 IST 2022 why-is-empowering-your-employees-essential-successful-entrepreneur-sahil-suri-answers <a href="http://www.theweek.in/news/biz-tech/2022/09/19/why-is-empowering-your-employees-essential-successful-entrepreneur-sahil-suri-answers.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/19/Sahil-Suri.jpg" /> <p>We have come far from the days when the domineering boss gave orders to his</p> <p>subordinates who either followed or were fired. Do you think this work will still be appreciated? Well, no! Today's population may muck it up, leaving you doomed. And therefore, Sahil Suri explains why empowering your employees is necessary to achieve success in the long run.</p> <p>&nbsp;</p> <p>Sahil Suri says that a myriad of entrepreneurs have realized, and others should understand too, that some of the biggest innovations come from being people-centred, as the younger generations crave an unconditional, representative workplace. What Sahil Suri asserts is an absolute fact. Or else, why do you think MNCs like Google and Yahoo! are offering their employees cool workstations and exclusive benefits?</p> <p>&nbsp;</p> <p>Further, Sahil Suri says, &quot;Employees are the biggest asset of your company. Their level of dedication, devotion, and expertise will decide the future of your business. An optimistic and empowered team will help you achieve even the biggest goals.&quot;</p> <p>&nbsp;</p> <p>Sahil Suri explains that, along with other factors, a businessman should also focus on the company culture. &quot;You aren't operating a coal mine from the 80s–90s, you are running a business that is established to offer quality service, and therefore try to encourage bi-directional communication between employees. This will push younger employees to share their ideas. Moreover, they are learning from your actions, so you will build a future leader.&quot;</p> <p>&nbsp;</p> <p>Sahil Suri's words are all that every businessman or employer wants to hear. The entrepreneur himself is the founder of two companies: an IT company and a cafe named &quot;Marshmallow.&quot; Through these businesses, he has not only generated employment opportunities for a horde of people but has bestowed them with admiration and credibility. This has inspired many startups to emulate Sahil Suri! and reap benefits for themselves.</p> <p>&nbsp;</p> <p>Sahil Suri has several plans for the future, and this includes starting a production house in the Bollywood film industry. We wish him all the best and hope that he will keep guiding other businessmen.</p> <p>&nbsp;</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/19/why-is-empowering-your-employees-essential-successful-entrepreneur-sahil-suri-answers.html http://www.theweek.in/news/biz-tech/2022/09/19/why-is-empowering-your-employees-essential-successful-entrepreneur-sahil-suri-answers.html Mon Sep 19 18:08:18 IST 2022 new-mobile-banking-virus-prowling-in-indian-cyberspace <a href="http://www.theweek.in/news/biz-tech/2022/09/15/new-mobile-banking-virus-prowling-in-indian-cyberspace.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/card-payment-contactless-credit-debit-banking-online-purchase-shut.jpg" /> <p>A new mobile banking 'Trojan' virus -- SOVA -- which can stealthily encrypt an Android phone for ransom and is hard to uninstall is targeting Indian customers, the country's federal cyber security agency said in its latest advisory.</p> <p>&nbsp;</p> <p>The virus has upgraded to its fifth version after it was first detected in the Indian cyberspace in July, it said.</p> <p>&nbsp;</p> <p>&quot;It has been reported to CERT-In that Indian banking customers are being targeted by a new type of mobile banking malware campaign using SOVA Android Trojan.The first version of this malware appeared for sale in underground markets in September 2021 with the ability to harvest user names and passwords via key logging, stealing cookies and adding false overlays to a range of apps,&quot; the advisory said.</p> <p>&nbsp;</p> <p>SOVA, it said, was earlier focusing on countries like the US, Russia and Spain, but in July 2022 it added several other countries, including India, to its list of targets.</p> <p>&nbsp;</p> <p>The latest version of this malware, according to the advisory, hides itself within fake Android applications that show up with the logo of a few famous legitimate apps like Chrome, Amazon, NFT (non-fungible token linked to crypto currency) platform to deceive users into installing them.</p> <p>&nbsp;</p> <p>&quot;This malware captures the credentials when users log into their net banking apps and access bank accounts. The new version of SOVA seems to be targeting more than 200 mobile applications, including banking apps and crypto exchanges/wallets,&quot; the advisory said.</p> <p>&nbsp;</p> <p>The Indian Computer Emergency Response Team or CERT-In is the federal technology arm to combat cyber attacks and guards the Internet space against phishing and hacking assaults and similar online attacks.</p> <p>&nbsp;</p> <p>The agency said the malware is distributed via smishing (phishing via SMS) attacks, like most Android banking Trojans.</p> <p>&nbsp;</p> <p>&quot;Once the fake android application is installed on the phone, it sends the list of all applications installed on the device to the C2 (command and control server) controlled by the threat actor in order to obtain the list of targeted applications.&quot;</p> <p>&nbsp;</p> <p>&quot;At this point, the C2 sends back to the malware the list of addresses for each targeted application and stores this information inside an XML file. These targeted applications are then managed through the communications between the malware and the C2,&quot; it said.</p> <p>&nbsp;</p> <p>The lethality of the virus can be gauged from the fact that it can collect keystrokes, steal cookies, intercept multi-factor authentication (MFA) tokens, take screenshots and record video from a webcam and can perform gestures like screen click, swipe etc. using android accessibility service.</p> <p>&nbsp;</p> <p>It can also add false overlays to a range of apps and &quot;mimic&quot; over 200 banking and payment applications in order to con the Android user.</p> <p>&nbsp;</p> <p>&quot;It has been discovered that the makers of SOVA recently upgraded it to its fifth version since its inception, and this version has the capability to encrypt all data on an Android phone and hold it to ransom,&quot; it said.</p> <p>&nbsp;</p> <p>Another key feature of the virus, according to the advisory, is the refactoring of its &quot;protections&quot; module, which aims to protect itself from different victim actions.</p> <p>&nbsp;</p> <p>For example, it said, if the user tries to uninstall the malware from the settings or pressing the icon, SOVA is able to intercept these actions and prevent them by returning to the home screen and showing a toast (small popup) displaying &quot;This app is secured&quot;.</p> <p>&nbsp;</p> <p>These attack campaigns can effectively jeopardise the privacy and security of sensitive customer data and result in &quot;large-scale&quot; attacks and financial frauds, it said.</p> <p>&nbsp;</p> <p>The agency also suggested some counter-measures and best practices that can be put into action by the users to keep safe from the virus.</p> <p>&nbsp;</p> <p>Users should reduce the risk of downloading potentially harmful apps by limiting their download sources to official app stores, such as your device's manufacturer or operating system app store, they should always review the app details, number of downloads, user reviews, comments and &quot;ADDITIONAL INFORMATION&quot; section, it said.</p> <p>&nbsp;</p> <p>One should also verify app permissions and grant only those which have relevant context for the app's purpose.</p> <p>&nbsp;</p> <p>They should install regular Android updates and patches and not browse un-trusted websites or follow un-trusted links and exercise caution while clicking on the link provided in any unsolicited emails and SMSs.&nbsp;&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/15/new-mobile-banking-virus-prowling-in-indian-cyberspace.html http://www.theweek.in/news/biz-tech/2022/09/15/new-mobile-banking-virus-prowling-in-indian-cyberspace.html Thu Sep 15 14:49:47 IST 2022 samsung-sets-goal-to-attain-100-percent-clean-energy-by-2050 <a href="http://www.theweek.in/news/biz-tech/2022/09/15/samsung-sets-goal-to-attain-100-percent-clean-energy-by-2050.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/health/images/2022/1/13/logo-of-Samsung-Electronics-ap.jpg" /> <p>Samsung Electronics is shifting away from fossil fuels and aiming to entirely power its global operations with clean electricity by 2050, a challenging goal that experts say could be hampered by South Korea's modest climate change commitments.</p> <p>&nbsp;</p> <p>South Korea-based Samsung is a top producer of computer memory chips and smartphones and, by some estimates, the biggest energy consumer among hundreds of global companies that have joined the RE100 campaign to get 100 per cent of electricity from renewable sources like wind or solar power.</p> <p>&nbsp;</p> <p>In announcing its target on Thursday the company said it aims to achieve net zero carbon emissions across its mobile device, display panel and consumer electronics divisions by 2030, and across all global operations including semiconductors by 2050.</p> <p>&nbsp;</p> <p>It plans to invest 7 trillion won (USD 5 billion) through 2030 on projects aimed at reducing emissions from process gases, controlling and recycling electronic waste, conserving water and minimizing pollutants.</p> <p>&nbsp;</p> <p>It plans to develop new technologies to reduce power consumption in consumer electronics devices and data centers, which would require more efficient memory chips. It also will set long-term goals to reduce emissions in supply chains and logistics.</p> <p>&nbsp;</p> <p>Samsung is responding to the threats of climate change with a comprehensive plan that includes reducing emissions, new sustainability practices and the development of innovative technologies and products that are better for our planet, Jong-Hee Han, the company's CEO, said in an emailed statement.</p> <p>&nbsp;</p> <p>Samsung's plan drew praise from some of its investors, including Dutch pension fund manager APG, which said the company could potentially make a significant contribution in cleaning up South Korea's electricity market, considering its impact and influence on the national economy.</p> <p>&nbsp;</p> <p>But APG also expressed concern that Samsung's announcement comes at a time when South Korea has been dialing back on its climate change goals.</p> <p>&nbsp;</p> <p>The conservative government of President Yoon Suk Yeol, who took office in May, has focused much of its energy policy on promoting nuclear-generated electricity. Desperate to boost a weak economy, Yoon's government has also indicated reluctance to sharply reduce the country's dependence on coal and gas, which generate about 65 per cent of South Korea's electricity.</p> <p>&nbsp;</p> <p>South Korea got 7.5 per cent of its electricity from renewable sources in 2021, significantly lower than the 30 per cent average among rich nations making up the Organization for Economic Cooperation and Development.</p> http://www.theweek.in/news/biz-tech/2022/09/15/samsung-sets-goal-to-attain-100-percent-clean-energy-by-2050.html http://www.theweek.in/news/biz-tech/2022/09/15/samsung-sets-goal-to-attain-100-percent-clean-energy-by-2050.html Thu Sep 15 12:19:21 IST 2022 bengaluru-tops-in-intent-to-hire-in-q2-2022 <a href="http://www.theweek.in/news/biz-tech/2022/09/15/bengaluru-tops-in-intent-to-hire-in-q2-2022.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/hiring-job-work-employment-job-shut.jpg" /> <p>Driven by the growth in the IT, ecommerce, FMCG and other allied sectors, Bangaluru has emerged as the top city in India with the highest intent to hire in the second quarter of the current financial year, a report said on Thursday.</p> <p>&nbsp;</p> <p>In the July to September quarter, according to the 'Employment Outlook Report' of HR company TeamLease Services, 95 per cent of employers expressed the intent to hire more, compared to 91 per cent in the April to June period.</p> <p>&nbsp;</p> <p>From a pan-India perspective, 61 per cent of India Inc. were keen to hire during the period (a seven per cent increase over last quarter).</p> <p>&nbsp;</p> <p>In Bangaluru, manufacturing and services have both showed positive intent to hire.</p> <p>&nbsp;</p> <p>In the manufacturing sector, leading industries were FMCG (48 per cent), Healthcare &amp; Pharmaceuticals (43), Manufacturing, Engineering &amp; Infrastructure (38), Power &amp; Energy (34) and Agriculture &amp; Agrochemicals (30).</p> <p>&nbsp;</p> <p>From the services sector perspective, leadings industries included Information Technology (97 per cent), Ecommerce &amp; Allied Start-ups (85), Education Services (70), Telecommunications (60), Retail (Essential) (64), Retail (Non-Essential) (30), and Financial Services (55).</p> <p>&nbsp;</p> <p>Sharing his views, Chief Business Officer, TeamLease Services, Mahesh Bhatt said over the last decade, Bangaluru as a market has seen exponential growth across industries, especially with the emergence of many new age internet-based companies providing varied value driven services and products.</p> <p>&nbsp;</p> <p>&quot;This positive growth momentum has led to an influx of employment opportunities across roles and sectors. More employers are keen to increase their resource pool and are also inclined to pay higher remunerations. In fact, in the coming quarters, hiring intent is further expected to be 97 per cent&quot;, he said.</p> <p>&nbsp;</p> <p>While the demand for IT-focused job roles and digital competencies has been high, some of the top profiles/ roles which were in demand in the city included IT, Sales, Engineering and Marketing.</p> <p>&nbsp;</p> <p>From an overall location perspective, Delhi (72 per cent) followed by Mumbai (59) and Chennai (55) are the most promising cities in the manufacturing sector. From a services sector perspective, Bangalore (97 per cent) is at the top, followed by Mumbai (81), and Delhi (68).</p> <p>&nbsp;</p> <p>The 'TeamLease Employment Outlook Report' is a comprehensive hiring outlook report, targeted at human resource professionals, policy and decision-makers, reflecting the hiring sentiment of over 865 employers, across 14 cities and 23 sectors in India, a company statement said.</p> <p>&nbsp;</p> <p>This report carries Intent to Hire statistics for Q-2, 2022-23 [July 2022 Sep 2022] on the basis of the survey and analysis carried out during April and May 2022, it was stated.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/15/bengaluru-tops-in-intent-to-hire-in-q2-2022.html http://www.theweek.in/news/biz-tech/2022/09/15/bengaluru-tops-in-intent-to-hire-in-q2-2022.html Thu Sep 15 11:57:10 IST 2022 goldman-sachs-planning-job-cuts-reports <a href="http://www.theweek.in/news/biz-tech/2022/09/14/goldman-sachs-planning-job-cuts-reports.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/sci-tech/images/2018/5/1/goldman-sachs-stall-nyse-reu.jpg" /> <p>Investment banking giant Goldman Sachs is said to be planning job cuts as early as this month in the wake of a fall in deal volumes and initial public offerings across capital markets.&nbsp;</p> <p>&nbsp;</p> <p>Reports suggest that Goldman will reinstate its tradition of annual job cuts, which have typically targeted between 1-5 per cent of low performers, a practice that was put on hold in the last couple of years.</p> <p>&nbsp;</p> <p>The New York-headquartered bank has around 47,000 employees globally. According to US media reports, the job cuts at Goldman are likely to be at the lower-end of the range. This could mean a few hundred people could lose their jobs.</p> <p>&nbsp;</p> <p>Goldman Sachs declined to comment on whether any job cuts were planned and how much.</p> <p>&nbsp;</p> <p>In India, Goldman Sachs has been servicing clients since the 1990s. It established an onshore presence in 2006 after operating in the country through a joint venture for a decade. It has offices in Bengaluru, Mumbai and Hyderabad, and is learnt to be employing over 8,000 people here.</p> <p>&nbsp;</p> <p>In the Bengaluru office alone it has 6,000 employees, making it one of the largest offices for the bank in the world, according to Goldman. The Hyderabad office, its newest in India, was opened in 2021.</p> <p>&nbsp;</p> <p>Equity markets took a big hit around the world in the early part of 2020 due to the Covid-19 pandemic. But, the next 18-odd months saw markets rally to record levels. In that backdrop, deal activity also picked up pace and lot of companies rushed to go public, in turn driving an investment banking boom.</p> <p>&nbsp;</p> <p>But, amid volatile markets, rising interest rates and fears of a recession in major markets like the US, deals and fund raising has slowed.</p> <p>&nbsp;</p> <p>The investment bank had warned in its conference call with investors in July that it would have to re-look at its expenses due to the challenging environment.</p> <p>&nbsp;</p> <p>“Given the challenging operating environment, we are closely reexamining all of our forward spending and investment plans to ensure the best use of our resources,” Denis Coleman, Goldman's chief financial officer had said.</p> <p>&nbsp;</p> <p>He had said the company was taking “a number of actions” to improve the operating efficiency and had “specifically”, decided to slow “hiring velocity,&quot; and &quot;reduce certain professional fees.&quot;</p> http://www.theweek.in/news/biz-tech/2022/09/14/goldman-sachs-planning-job-cuts-reports.html http://www.theweek.in/news/biz-tech/2022/09/14/goldman-sachs-planning-job-cuts-reports.html Wed Sep 14 17:12:55 IST 2022 creator-entrepreneur-deepak-pareek-on-how-to-tackle-fear-and-become-stronger <a href="http://www.theweek.in/news/biz-tech/2022/09/19/creator-entrepreneur-deepak-pareek-on-how-to-tackle-fear-and-become-stronger.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/19/Deepak-Pareek.jpg" /> <p>College life is something that all students look forward to because it is a world where the boundaries for creativity and excellence are not as rigid as they are in school. ‘Independence’ is explored in a vast context when one starts going to college, whether it is commuting to the campus on your own or becoming the master of your timetable. Students learn how to manage their time effectively and get more decisive about what path they want to walk on as a growing adult. Currently, the era of Gen Z and Millennial are driven by the possibilities brought upon by Industrial Revolution 4.0. Are you a college student and thinking about what could be the possibilities of entrepreneurship? Here are some of the few reasons why you should start a business and make the best use of your college life!</p> <p>Deepak Pareek has pointed out in many of his public speaking sessions held at prestigious institutes that a college is a place where all young individuals are passionate, motivated, and full of ideas and this is why they should consider starting their own business. After all, the most successful companies in the world like Google, Time Magazine, WordPress, Facebook, SnapChat, Reddit, FedEx, and many more were started by college students while they were still studying! “I myself started my own business when I was in college. It changed me completely and I’m so glad it happened!”, says&nbsp;<a href="https://www.dkpareek.com/"></a><a href="https://www.dkpareek.com/"><u>Deepak Pareek</u></a>&nbsp;on starting up during college.</p> <p>Why is it important to build a side hustle while you are in college? It is because you will get time to experiment with different skill sets along with a safety net. Eventually, you will be able to identify a particular skill that you can monetize soon. Deepak Pareek started his own business when he was in college and pursued content creation right after he graduated as a medium of side hustle which ultimately became his profession. “Starting a business during college will teach you some real-life lessons that college might not be able to help you with”, opines Content Creator Deepak Pareek.</p> <p>The first thing that he did was muster up the courage and start the process. This is where loads of college students lack, they think and dream about ideas they would love to execute, but when it comes to actual work, they back off due to lack of experience, financial resources, and the fear of starting something new. Thus, Deepak has constantly highlighted that with the available social media platforms building a brand does not require a large amount of money; it just requires consistency, patience and the courage to start.</p> <p>“Face the fear and you will come out stronger than ever!” says Deepak drawing from his personal experience. He was very under-confident when he began his journey; he failed, learned, became better, and still believes that he yet has to become the best version of himself with continuous accountability for his actions.</p> <p>Deepak Pareek in many of his content videos across various social media platforms says, “Invest in people who are smart, ambitious, kind and who are a little different from your mindset, it will open your mind to a different horizon”. College is the perfect time to do so as it gives you exposure to meet so many different people coming to one place from different parts of India and sometimes internationally as well. You can even practice the art of networking while being in college because during that phase you can fail and embarrass yourself without many serious consequences. These experiences will only make you the sharpest you have ever been when you step out in the ‘real world’ to interact with business people, mentors, and artists. “I always encourage people to start their own businesses or start something of their own, even if it’s an Instagram Page or a YouTube Channel. It talks a lot about their interest in doing certain things”, feels Deepak.</p> <p>Deepak Pareek is an Entrepreneur, Content Creator, TEDx Speaker and a Creative Film Producer hailing from Calcutta&nbsp;and now based in Mumbai, India. For more details, visit&nbsp;<a href="http://www.dkpareek.com">www.dkpareek.com</a>&nbsp;.</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/19/creator-entrepreneur-deepak-pareek-on-how-to-tackle-fear-and-become-stronger.html http://www.theweek.in/news/biz-tech/2022/09/19/creator-entrepreneur-deepak-pareek-on-how-to-tackle-fear-and-become-stronger.html Mon Sep 19 12:45:59 IST 2022 dynamic-bond-an-all-season-bond-fund-category <a href="http://www.theweek.in/news/biz-tech/2022/09/19/dynamic-bond-an-all-season-bond-fund-category.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/sci-tech/image/stock-market-tax-project-businessman-investment-consultant-company-finance-financial-report-balance-sheet-shut.jpg" /> <p>The quiet and calm debt markets—an alternative for the investors; who in India, prefer parking largely in fixed deposits; has turned queasy with returns shrinking as interest rate cycles across the globe and in India are being driven by unprecedented rate hikes as a means to tame spiralling inflation. India’s central bank, RBI too is no exception and has hiked benchmark repo rate by 140 basis points since May 2022.</p> <p>So, it is no surprise that investors have been caught off guard in terms of the frequency of interest rate hikes. It is widely expected that central bank will continue to remain hawkish for some time even after the inflation peaks out. This has led the Bloomberg Global Aggregate total return index&nbsp;of government and investment grade corporate bonds to correct by about 20% from its 2021 peak. So, how can the investors protect their returns from debt instruments when the interest rates are heading northward? How can they strive to generate reasonable returns in the long-term with better liquidity?</p> <p>In the current situation, for an investor looking to make a debt investment, the dynamic bond funds category is the best viable option. Here, the fund manager&nbsp;seeks to benefit from interest rate volatility, by managing duration dynamically to maximize return. In effect, the crux of dynamic bond management is duration management. For the uninitiated, duration tells us how long it will take (in years) for an investor to get their principal amount back. For example: A bond with duration of five years means it will take five years for an investor to receive their principal back.</p> <p>Therefore, if a fund manager is able to tweak duration dynamically based on interest rate scenarios, it will potentially generate reasonable returns in all kinds of market situations. As a result, dynamic bond manager increases duration when the interest rates are expected to fall in order to benefit from the capital appreciation; and reduces duration when interest rates are expected to rise so as to mitigate the risks from the marked-to-market loss. While at it, the fund manager will also strive to maintain a sizable room for margin of safety when the times are tough and macro factors are laden with uncertainties to forecast the interest rate trajectory.</p> <p>The assessment of interest rate direction also aids in deciding on the share of allocation to government security and corporate bonds. This is a tactical call taken by the fund manager. Given the nature of the category, it is likely that when interest rates are high, a dynamic bond fund will behave like a long duration scheme. Her, the emphasis will be on bringing down the duration to mitigate market loss. While on the other hand, when interest rates are low, the scheme will behave like an accrual scheme, with focus on earning interest income primarily from coupons held till maturity. In this situation, the fund manager will opt for accrual strategy - increase duration to benefit from capital appreciation given the drop in interest rates. A fund manager opts for accrual strategy when the possibility of further rate cut looks low and the central bank is likely to pause policy action.</p> <p>For an investor looking to invest in a dynamic bond fund, there are various options available. Within these, ICICI Prudential All Seasons Bond Fund is one of the fund that stands out in terms of how it is managed and return consistency relative to its peers. As a means to avoid any potential fund manager bias, the fund relies on an in-house model to take duration calls. When the model parameter indicates a cautious environment, the fund will lower the duration, and vice-versa. As a result, the fund is able to actively manage duration in various interest rate scenarios and thereby deliver consistent performance relative to its peers. The fund over longer timeframes like 3 years, 5 years or 10-years is among the top two performers in the category which is a testament of the robust model driven allocation the fund follows. As an investor, it is imperative that one such invest in a dynamic bond fund with an investment horizon of atleast three years and more to benefit from the investment decisions taken.</p> http://www.theweek.in/news/biz-tech/2022/09/19/dynamic-bond-an-all-season-bond-fund-category.html http://www.theweek.in/news/biz-tech/2022/09/19/dynamic-bond-an-all-season-bond-fund-category.html Mon Sep 19 12:43:49 IST 2022 breath-analyser-test-for-aircraft-personnel-from-oct-15 <a href="http://www.theweek.in/news/biz-tech/2022/09/14/breath-analyser-test-for-aircraft-personnel-from-oct-15.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/Breath-analyser-alcohol-car-driver-breathanalyser-shut.jpg" /> <p>All aircraft personnel, including pilots and cabin crew members, will have to undergo breath analyser test from October 15 onwards, with the DGCA lifting the related curbs that were in place due to the pandemic.</p> <p>&nbsp;</p> <p>Amid the pandemic, the breath analyser test that is done to check whether any crew member has consumed alcohol, was limited to 50 per cent of the aircraft personnel.</p> <p>&nbsp;</p> <p>Further, following an order passed by the Delhi High Court in May 2021, the number of breath analyser tests that can be conducted in one hour was limited to six.</p> <p>&nbsp;</p> <p>The curbs have now been done away with by the Directorate General of Civil Aviation (DGCA) after the court modified its order passed in May 2021.</p> <p>&nbsp;</p> <p>With the latest changes, all flight and cabin crew members will be subject to the breath analyser test effective from October 15, according to a DGCA order.</p> <p>&nbsp;</p> <p>In view of reducing number of coronavirus cases and increase in volume of air traffic as well as the dispensation granted by the court, the DGCA said the Civil Aviation Requirements (CAR) related breath analyser test for aircraft personnel has been restored.</p> <p>&nbsp;</p> <p>As part of precautions, the regulator said breath analyser test to the extent feasible should be done in a bigger and open area that has CCTV coverage or camera recording.</p> <p>&nbsp;</p> <p>Doctors, paramedics and nurses, among others, who are authorised to carry out the test should check the person first for symptoms of coronavirus infection.</p> <p>&nbsp;</p> <p>&quot;If any person is detected with COVID-19 symptoms, the person shall be exempted from BA (Breath Analyser) test and be removed from duty.</p> <p>&nbsp;</p> <p>&quot;Such person shall undergo the required examination and shall return to duty only after having been declared fit. Records are to be maintained for all such cases,&quot; the DGCA said.</p> <p>&nbsp;</p> <p>The regulator also said that such cases should not be treated as missed breath analyser case.</p> <p>&nbsp;</p> <p>Besides, the person carrying out the test should take a rapid antigen test or any other approved test for COVID-19 prior to joining the duty for the test.</p> <p>&nbsp;</p> <p>All breath analyser equipment should be sanitised using UV sterilisers, and the integrity as well as sanitary condition of the breath analyser test tubes/ mouth pieces should be maintained, as per DGCA.</p> <p>&nbsp;</p> <p>The conditions of limiting the number of tests to six per hour and requirement for wearing PPE kit by the medical staff involved in the conduct of the test have been removed.</p> <p>&nbsp;</p> <p>The restoration of the breath analyser norms will be effective from October 15 as time has been given for airlines and other entities concerned to put in place necessary arrangements for the tests.</p> <p>&nbsp;</p> <p>The DGCA has restored CAR pertaining to procedure for medical examination of aircraft personnel for alcohol consumption.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/14/breath-analyser-test-for-aircraft-personnel-from-oct-15.html http://www.theweek.in/news/biz-tech/2022/09/14/breath-analyser-test-for-aircraft-personnel-from-oct-15.html Wed Sep 14 16:48:29 IST 2022 twitter-shareholders-approve-elon-musk-s--44bn-buyout-bid <a href="http://www.theweek.in/news/biz-tech/2022/09/14/twitter-shareholders-approve-elon-musk-s--44bn-buyout-bid.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/Elon-Musk-smartphone-printed-Twitter-logos-reu.jpg" /> <p>Twitter shareholders have voted on Tuesday to approve a deal with Tesla CEO Elon Musk to buy the company for $44bn.</p> <p>&nbsp;</p> <p>Shareholders have been voting remotely on the issue for weeks. The vote was largely a formality, particularly given Musk's efforts to nullify the deal, although it does clears a legal hurdle to closing the sale.</p> <p>&nbsp;</p> <p>Musk, who is trying to get out of a $44 billion deal to buy Twitter, has argued without evidence that many of Twitter's roughly 238 million daily users are fake or malicious accounts, i.e.&nbsp;</p> <p>&nbsp;</p> <p>spam bots. Twitter is currently valued at $32bn, well below the $44bn offer from Musk.</p> <p>&nbsp;</p> <p>Meanwhile, the former security chief at Twitter told Congress that the social media platform is plagued by weak cyber defences that make it vulnerable to exploitation by teenagers, thieves and spies and put the privacy of its users at risk.</p> <p>&nbsp;</p> <p>Peiter Mudge Zatko, a respected cybersecurity expert, appeared before the Senate Judiciary Committee to lay out his allegations Tuesday.</p> <p>&nbsp;</p> <p>I am here today because Twitter leadership is misleading the public, lawmakers, regulators and even its own board of directors,&quot; Zatko said as he began his sworn testimony.</p> <p>&nbsp;</p> <p>They don't know what data they have, where it lives and where it came from and so, unsurprisingly, they can't protect it, Zatko said.</p> <p>&nbsp;</p> <p>Zatko said Twitter leadership ignored its engineers, in part because their executive incentives led them to prioritise profit over security.</p> <p>&nbsp;</p> <p>One issue that didn't come up in the hearing was the question of whether Twitter is accurately counting its active users, an important metric for its advertisers.</p> <p>&nbsp;</p> <p>Musk, who is trying to get out of a $44 billion deal to buy Twitter, has argued without evidence that many of Twitter's roughly 238 million daily users are fake or malicious accounts, i.e. spam bots.</p> <p>&nbsp;</p> <p>The Delaware judge overseeing the case ruled last week that Musk can include new evidence related to Zatko's allegations in the high-stakes trial, which is set to start Oct. 17.</p> <p>&nbsp;</p> <p>(With inputs from agencies)</p> http://www.theweek.in/news/biz-tech/2022/09/14/twitter-shareholders-approve-elon-musk-s--44bn-buyout-bid.html http://www.theweek.in/news/biz-tech/2022/09/14/twitter-shareholders-approve-elon-musk-s--44bn-buyout-bid.html Wed Sep 14 14:39:26 IST 2022 organised-retail-sales-volumes-in-top-8-cities-to-touch-136-bn-by-fy28-says-study <a href="http://www.theweek.in/news/biz-tech/2022/09/13/organised-retail-sales-volumes-in-top-8-cities-to-touch-136-bn-by-fy28-says-study.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/sci-tech/2020/april/sanitises-a-floor-at-Metro-Central-Mall-pti.jpg" /> <p>As India’s economy expands, organised retail sales volumes in India are also expected to grow at a rapid clip, aided by new shopping centres and expansion of retail chain stores.</p> <p>&nbsp;</p> <p>According to consulting firm Knight Frank, organised retail sales volumes in India’s top eight cities were $52 billion in 2021-22. By financial year 2028, they are likely to touch $136 billion, it estimates.</p> <p>&nbsp;</p> <p>“With economic growth, organised retail sales will also witness tremendous growth and move up the growth curve at a compounded annual growth rate of 17 per cent during financial 2022-2028 period. Evolving consumer spending patterns and increasing disposable income levels are redefining India’s retail landscape,” said the consulting firm.</p> <p>&nbsp;</p> <p>Addition of new shopping malls is expected to add to the growth in organised retail sales.</p> <p>&nbsp;</p> <p>The Covid-19 pandemic had a huge impact on shopping malls as they were shut for months together in 2020 in the first wave and business was also hit hard in the second wave in 2021. Despite this disruption, there has been addition of 15.5 million square feet of incremental mall supply in the past 30 months, across the top eight cities.</p> <p>&nbsp;</p> <p>In December 2019, there was 77.4 million square feet of gross leasable area across 255 malls. The total mall stock in the eight cities is estimated to have increased to 92.9 million square feet of gross leasable area across 271 operational malls in the first half of 2022.</p> <p>&nbsp;</p> <p>“The retail real estate sector has reached a new level of maturity where smaller sized and lower grade developments are giving way to Grade A malls. The existing Grade A malls have over 95 per cent occupancy which is indicative of the demand for quality real estate in this segment,” said Shishir Baijal, chairman and MD of Knight Frank.</p> <p>&nbsp;</p> <p>Apparels and accessories are two categories that have expanded footprint in malls. The share of apparels in malls has gone up to 29 per cent from 26 per cent, while share of space taken up by accessories outlets like books, watches, jewellery and eyewear among others has risen to 12 per cent from 8 per cent.</p> <p>&nbsp;</p> <p>Knight Frank estimates that between financial year 2022 and 2028, potential retail sales in malls will grow at a compounded annual rate of 29 per cent to touch $39 billion by 2027-28.</p> <p>&nbsp;</p> <p>Retail sales in malls in the top eight cities were at $8 billion in the last financial year and are expected to touch $11 billion, surpassing the pre-COVID levels, in the current financial year ending March 2023, according to its research.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/13/organised-retail-sales-volumes-in-top-8-cities-to-touch-136-bn-by-fy28-says-study.html http://www.theweek.in/news/biz-tech/2022/09/13/organised-retail-sales-volumes-in-top-8-cities-to-touch-136-bn-by-fy28-says-study.html Tue Sep 13 17:51:26 IST 2022 spiralling-food-inflation-decline-in-industrial-activity-remain-a-concern <a href="http://www.theweek.in/news/biz-tech/2022/09/13/spiralling-food-inflation-decline-in-industrial-activity-remain-a-concern.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/13/food-inflation-pti.jpg" /> <p>Rising inflation led by a rise in food prices and a decline in industrial activity is still an area of concern and may warrant further policy tightening, say experts. For the month of August, the consumer price index (CPI) surged to 7 per cent as against 6.71 per cent in July. Though retail inflation was on a downward trend in the last three months, the data marginally increased this month mainly due to increase in food prices. Nearly half of the CPI basket is accounted by food inflation which includes daily essentials like wheat, rice and pulses, which skyrocketed due to various factors like record heatwaves, erratic monsoon pattern etc. As per the National Statistical Office, food inflation soared 7.62 per cent in August 2022.&nbsp;</p> <p>&nbsp;</p> <p>During this period, core inflation remained stable (6.20 percent YoY). Higher food inflation was led by irregular monsoon distribution and lower sowing. While food inflation saw increases across almost all categories, cereals, vegetables, and pulses saw significant sequential momentum. Meanwhile, core sequential momentum moderated with fixed behavior of sub-segments. Services and housing inflation rose modestly.&nbsp;</p> <p>&nbsp;</p> <p>Interestingly, the Industrial Production growth also slowed down to 2.4 per cent with sequential declines. Experts say that even as India’s inflation has peaked, it still warrants caution, with core inflation appearing sticky.&nbsp; As per experts from Emkay Global Financial Services, after a moderating trend seen between May-July, inflation has again risen in August driven by accelerating food inflation and a fading of base effect. This is the eighth straight month when inflation has printed above 6 per cent, the upper tolerance limit of the Reserve Bank of India’s (RBI) target.&nbsp; As per the Emkay report, food inflation accelerated significantly to 7.6 per cent in August, from 6.7 per cent in July, driven by jump in cereals, vegetables, pulses and milk and milk products’ prices. Persistent rise in cereal inflation (since May), particularly hints at tight supplies. Wheat inflation was already under pressure after a hit from the heat wave earlier this year and now deficient rain in rice growing regions is putting pressure on rice inflation.&nbsp;</p> <p>&nbsp;</p> <p>As per experts from CRISIL, non-food inflation moderated slightly to 6.6 per cent from 6.7 per cent in July, reflecting slowing energy inflation (as LPG prices remained unchanged and kerosene prices fell on-month). Sequential fall in petrol and diesel prices eased transport and communication CPI.&nbsp; Experts from&nbsp;CRISIL do point out that an uptick in overall inflation in August, particularly the sharp jump in food inflation, suggests price pressures remain. On the core inflation side, even as input cost pressures have eased for producers, they are expected to pass on the costs to consumers amid demand recovery (particularly in the services component on CPI).&nbsp;</p> <p>&nbsp;</p> <p>As the same time industrial activity has taken a beating and the sharp slowdown in index of industrial production (IIP) growth – to 2.4 percent on-year in July from 12.7 percent previous month – was a result of unfavourable base effect as well as a sequential decline in activity. &quot;The impact of slowing global growth is beginning to be felt by domestic manufacturing in India too. Key export sectors such as textiles, petroleum products, machinery and equipment saw sequential fall in IIP in July. Though this could gain pace over the next 12 months, as aggressive monetary tightening and elevated inflation hit demand prospects in major advanced economies. Domestic demand also has not lent support to manufacturing either. IIP declined sequentially for both consumer durables and non-durables in July and this might be a result of shifting demand from manufacturing to services,&quot; said Dharmakirti Joshi, Chief Economist, CRISIL Ltd&nbsp;</p> <p>&nbsp;</p> <p>Experts do point out that it is a double whammy of sorts on the economic data. “On a downward slide since April, the CPI rose in August to touch a 7 per cent level. Primarily the rise is due to food, vegetable, and pulses that has led to a rise in CPI. Higher energy prices also pushed inflation higher. The industrial production data too had a negative reading. After double-digit growth in May and June, the July industrial output has declined to 2.4 per cent making it a four month low. Higher crude, LPG, and commodity prices dragged the industrial output. The falling crude and commodity prices may offer a respite for the CPI as well as IIP data going forward. This latest economic data will have a bearing on the MPC meet later this month. Central banks across the globe are raising rates, and curtailing system liquidity to tame the rising inflation,” pointed out Nish Bhatt, Founder and CEO, Millwood Kane International an investment consulting firm.&nbsp;</p> <p>&nbsp;</p> <p>Experts, however, point out that the rising CPI inflation and the decline in industrial activity may not be an immediate cause of concern. “Overall, the combination of slightly higher inflation and marginally slower growth is not desired. However, it is unlikely to be a concern for the policymakers and or markets at this stage,” pointed out Nikhil Gupta, Chief Economist, MOFSL group.&nbsp;</p> <p>&nbsp;</p> <p>Experts do believe that there would be continuous challenges in the near term as inflation levels in the economy remain elevated despite a considerable reduction in crude oil price from its recent highs. “Rise in food prices, domestic fuel price level and pressure on the Indian currency continue to pose near term threat on inflation trajectory. These will also guide the upcoming monetary policy action, which has so far already witnessed three policy rate hikes and liquidity tightening measures over last 5 months. However, the strong sentiment on both the business and consumer fronts highlights the economic resilience, which domestic and global business participants are expected to take note of for their India plans,” observed Vivek Rathi, Director-Research Knight Frank India.&nbsp;</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/13/spiralling-food-inflation-decline-in-industrial-activity-remain-a-concern.html http://www.theweek.in/news/biz-tech/2022/09/13/spiralling-food-inflation-decline-in-industrial-activity-remain-a-concern.html Tue Sep 13 17:31:01 IST 2022 mamata-inaugurates-coca-cola-plant-in-jalpaiguri <a href="http://www.theweek.in/news/biz-tech/2022/09/12/mamata-inaugurates-coca-cola-plant-in-jalpaiguri.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/12/mamata-banerjee-salil120922.jpg" /> <p>West Bengal Chief Minister Mamata Banerjee on Monday virtually inaugurated a manufacturing unit of Hindustan Coca Cola Beverages (HCCB) at Raninagar in Jalpaiguri.</p> <p>&nbsp;</p> <p>State industries minister Shashi Panja along with other dignitaries physically attended the inauguration.</p> <p>&nbsp;</p> <p>Banerjee, during a programme here for distribution of appointment letters to beneficiaries of Utkarsha Bangla scheme, appealed to those who have settled outside the state to return to Bengal.</p> <p>&nbsp;</p> <p>She also rolled out a dedicated 24x7 WhatsApp number '9062037777' for redressing grievances of industrialists willing to invest in Bengal.</p> <p>&nbsp;</p> <p>Officials said a dedicated team of West Bengal Industrial Development Corporation will be managing the service, directing queries to the departments concerned.</p> <p>&nbsp;</p> <p>Panja later said a total 250 people directly and indirectly will be employed in the new factory.</p> <p>&nbsp;</p> <p>According to a statement by Hindustan Coca Cola Beverages, the company has invested Rs 660 crore in the new plant, its second in the state.</p> <p>&nbsp;</p> <p>The two companies taken together, HCCB has invested Rs 1,000 crore in Bengal, the statement said.</p> <p>&nbsp;</p> <p>The first plant, also in Jalpaiguri, has employed 170 people directly and 450 indirectly, it added.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/12/mamata-inaugurates-coca-cola-plant-in-jalpaiguri.html http://www.theweek.in/news/biz-tech/2022/09/12/mamata-inaugurates-coca-cola-plant-in-jalpaiguri.html Mon Sep 12 19:49:20 IST 2022 govt-testing-automated-vehicle-toll-collection-on-usage-basis--n <a href="http://www.theweek.in/news/biz-tech/2022/09/12/govt-testing-automated-vehicle-toll-collection-on-usage-basis--n.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2019/11/21/noida-toll.jpg" /> <p>The government is conducting a pilot project for an automatic number plate recognition system with a view to reducing traffic congestion at toll plazas and charging vehicle owners for the exact distance of cars driven on the tolled highways, Union minister Nitin Gadkari said on Monday.</p> <p>&nbsp;</p> <p>Addressing an event organised by the Indo-American Chamber of Commerce (IACC), Gadkari said the government wants to develop India's public transport system on electricity.</p> <p>&nbsp;</p> <p>&quot;The ministry of road transport and highways is conducting a pilot project of automatic number plate recognition system (Automatic Number Plate Reader cameras) to enable automated toll collection without stopping the vehicles.</p> <p>&nbsp;</p> <p>&quot;With this new technology, we want to achieve two objectives--free flow of traffic on toll booths and pay as per your use,&quot; he said, without giving further details.</p> <p>&nbsp;</p> <p>During 2018-19, the average waiting time for vehicles at toll plazas was 8 minutes.</p> <p>&nbsp;</p> <p>With the introduction of FASTags during 2020-21 and 2021-22, the average waiting time for vehicles has now come down to 47 seconds.</p> <p>&nbsp;</p> <p>Although that is a considerable improvement in the waiting time, at certain locations, especially near cities, and densely populated towns, there are still some delays at toll plazas during peak hours.</p> <p>&nbsp;</p> <p>To provide seamless and safe traffic operation, Gadkari said Advanced Traffic Management System (ATMS) is being installed on all newly constructed national highways and existing 4 plus lane national highways to provide seamless and safe traffic operation.</p> <p>&nbsp;</p> <p>&quot;The ministry aims to implement the Intelligence Traffic System (ITS) on 15,000 km of the national highway by 2024 to strengthen road safety,&quot; the road transport and highways minister added.</p> <p>&nbsp;</p> <p>Last month, Gadkari said that the government is now looking at two options - a satellite-based toll system where the GPS will be there in a car and the toll will be directly subtracted from the passenger's bank account and the other option is through number plates.</p> <p>&nbsp;</p> <p>&quot;We are in the process of introducing GPS instead of FASTag while using satellite and on the basis of which we want to take the toll. Technology is also available on number plate and there is good technology available in India,&quot; he said.</p> <p>&nbsp;</p> <p>&quot;We will select the technology. Though we have not taken an official decision, in my view on the number plate technology there will be no toll plaza and there will be a sophisticated computerised digital system by which we can give relief. There will be no queues and people will get great relief,&quot; the minister had said.</p> http://www.theweek.in/news/biz-tech/2022/09/12/govt-testing-automated-vehicle-toll-collection-on-usage-basis--n.html http://www.theweek.in/news/biz-tech/2022/09/12/govt-testing-automated-vehicle-toll-collection-on-usage-basis--n.html Mon Sep 12 16:21:31 IST 2022 missing-out-on-uniglo-glo-presale-could-be-similar-to-not-buying-bitcoin-btc-and-ethereum-eth-in-2017 <a href="http://www.theweek.in/news/biz-tech/2022/09/15/missing-out-on-uniglo-glo-presale-could-be-similar-to-not-buying-bitcoin-btc-and-ethereum-eth-in-2017.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/15/uniglo.jpg" /> <p>Investors should always be on the lookout for disruptors. The digital asset space exists in a constant state of flux, and investors must follow carefully, searching for protocols that address dire issues. Solving problems is how people provide value to the world. It is also how people become rich.<br> <br> Solving sufficient problems for a sufficient number of people is the path to wealth. Introducing value to people’s lives is what all successful entrepreneurs do, and when a protocol provides a solution for a persistent problem, it always rallies as a result.<br> <br> An improved store of value, Uniglo (GLO), will launch soon on the Ethereum network and solves the issue of preserving and growing wealth- a problem that has troubled investors for centuries. Uniglo’s potential is almost terrifying, and presale participants will see serious gains, similar to those who bought Bitcoin (BTC) and Ethereum (ETH) in 2017.<br> <br> <b>Uniglo (GLO)<br> <br> </b><a href="https://uniglo.io/"><u>Uniglo</u></a>&nbsp;&nbsp;&nbsp;is a community-owned social currency. The problem of preserving wealth has troubled investors forever. Fiat is a dreadful long-term store of value, recent high inflation has shown how rapidly fiat’s value erodes, and regarding digital assets, the last ten months have been a bloodbath of volatility.<br> <br> Uniglo provides the solution through the Uniglo Vault. Leveraging assets is a technique leveraged by the wealthy to preserve their wealth and has been employed for centuries. Uniglo is utilising the programmability of the blockchain to deliver this strategy to ordinary investors.<br> <br> Funded via buy and sell taxes, the Uniglo protocol purchases both physical and digital assets. By diversifying investments holding BTC, gold, ETH, fine art, and smaller cap cryptos, the Vault naturally hedges against market-specific downturns. As the Vault’s value increases, it naturally causes GLO’s valuation to increase, being the first value-backed DeFi token.</p> <p><b>Bitcoin (BTC)<br> <br> </b>Bitcoin continues to hover around $20,000. Entering September, a historically dreadful month for assets, investors are bracing themselves for new lows. However, investors who understand Bitcoin’s four-year cycle are busy buying as much BTC as possible. Bitcoin has consistently followed the same pattern: bull market (1 year), bear market (1 year), and accumulation phase (2 years).<br> <br> The bear market is drawing to a close, and so is the point of maximum financial opportunity. Investors should be accumulating as much BTC as they can now. Bitcoin will never sell so cheaply again.<br> <br> <b>Ethereum (ETH)<br> <br> </b>Ethereum is the home of DeFi and the first smart contract programmable blockchain. With billions of dollars of ETH currently staked on the Beacon Chain, the entire crypto sphere waits to see if the Merge is successful. If the Merge is successful, it marks the start of a new era of scalability and will become a defining historical moment.<br> <br> With such a dedicated team, the long-term prospects of ETH are marvellous, and it is a token every investor active in the digital asset space should own.<br> <br> <br> <b>Find Out More Here</b></p> <p>Join Presale:&nbsp;<a href="https://presale.uniglo.io/register"></a><a href="https://presale.uniglo.io/register"><u>https://presale.uniglo.io/register</u></a>&nbsp;&nbsp;&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/15/missing-out-on-uniglo-glo-presale-could-be-similar-to-not-buying-bitcoin-btc-and-ethereum-eth-in-2017.html http://www.theweek.in/news/biz-tech/2022/09/15/missing-out-on-uniglo-glo-presale-could-be-similar-to-not-buying-bitcoin-btc-and-ethereum-eth-in-2017.html Thu Sep 15 18:22:21 IST 2022 air-india-to-induct-30-planes-over-next-15-months <a href="http://www.theweek.in/news/biz-tech/2022/09/12/air-india-to-induct-30-planes-over-next-15-months.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/Air-India-flight-reu.jpg" /> <p>Air India on Monday said it will progressively induct 30 new aircraft, including 5 wide-body Boeing planes, from December this year, as the Tatas-owned airline looks to boost its domestic and international services.</p> <p>&nbsp;</p> <p>The airline has signed leases and letters of intent for inducting 5 wide-body Boeing and 25 Airbus narrow-body planes over the next 15 months.</p> <p>&nbsp;</p> <p>&quot;These new aircraft, which will enter service from late 2022, will increase the airline's fleet by over 25 per cent. Not counting the 10 long-grounded narrow-body and 6 wide-body aircraft that have been returned to service in recent months, these new aircraft mark the first major fleet expansion since Air India's acquisition by the Tata Group earlier this year,&quot; it said in a release.</p> <p>&nbsp;</p> <p>The planes being leased include 21 Airbus A320 neos, 4 Airbus A321 neos and 5 Boeing B777-200LRs.</p> <p>&nbsp;</p> <p>The B777-200LRs will join the fleet between December 2022 and March 2023. They will be deployed on routes from Indian metro cities to the US.</p> <p>&nbsp;</p> <p>&quot;Mumbai will see the addition of flights to San Francisco as well as to both of the New York area's international airports, Newark Liberty and John F Kennedy, while Bangalore will receive a 3x weekly service to San Francisco.</p> <p>&nbsp;</p> <p>&quot;These aircraft will result in Air India offering Premium Economy haul flights for the first time,&quot; the statement said.</p> <p>&nbsp;</p> <p>According to the release, the 4 A321 neo aircraft are expected to join the fleet in the first quarter of calendar year 2023, while the 21 A320 neos will be inducted in the second half of 2023.</p> <p>&nbsp;</p> <p>These aircraft will be deployed on domestic sectors as well as for short-haul international destinations.</p> <p>&nbsp;</p> <p>&quot;After a long time without significant growth, Air India is delighted to resume expanding its fleet and global footprint. These new aircraft, together with existing aircraft being returned to service, address an immediate need for more capacity and connectivity, and mark a strong step forward,&quot; Air India CEO and Managing Director Campbell Wilson said.</p> <p>&nbsp;</p> <p>Currently, the airline's narrow-body fleet stands at 70 aircraft. Out of them, 54 are in service and the remaining 16 aircraft will progressively return to service by early 2023.</p> <p>&nbsp;</p> <p>Air India's wide-body fleet stands at 43 aircraft, of which 33 are operational. The rest will return to service by early 2023.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/12/air-india-to-induct-30-planes-over-next-15-months.html http://www.theweek.in/news/biz-tech/2022/09/12/air-india-to-induct-30-planes-over-next-15-months.html Mon Sep 12 16:03:44 IST 2022 retail-inflation-inches-up-to-7-in-august-over-high-food-prices <a href="http://www.theweek.in/news/biz-tech/2022/09/12/retail-inflation-inches-up-to-7-in-august-over-high-food-prices.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biztech/images/food-inflation-reuters120922.jpg" /> <p>In a double whammy of sorts for the Indian economy, retail inflation accelerated to 7 per cent in August driven by high food and fuel costs, while factory output plunged to a four-month low of 2.4 per cent.</p> <p>&nbsp;</p> <p>The reversal of a three-month declining trend in CPI inflation will put pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame prices, which have stayed above the comfort zone for the eighth month in a row.</p> <p>&nbsp;</p> <p>CPI inflation climbed to 7 per cent from 6.71 per cent in July and 5.3 per cent in August 2021, official data released on Monday showed.</p> <p>&nbsp;</p> <p>A sharp increase in cereals and vegetable prices owing to erratic monsoon impacting production was the main reason.</p> <p>&nbsp;</p> <p>While the country was already facing double-digit wheat inflation due to unexpected heat wave pulling down the output, a lower area sown under paddy due to the shortfall in monsoon rainfall is expected to reduce the rice output. The twin effect of this means inflation in cereals will remain at elevated levels.</p> <p>&nbsp;</p> <p>However, the Finance Ministry expressed optimism that export curb imposed by the government on atta, rice, maida, etc will moderate prices of these items.</p> <p>&nbsp;</p> <p>&quot;Government has prohibited exports of food products like wheat flour/atta, rice, maida, etc to keep domestic supplies steady and curb rise in prices. The impact of these measures is expected to be felt more significantly in the coming weeks and months,&quot; a finance ministry tweet said.</p> <p>&nbsp;</p> <p>Similar measures taken in the past have resulted in price moderation of commodities like edible oil and pulses, the ministry said.</p> <p>&nbsp;</p> <p>&quot;To soften the prices of edible oils and pulses, tariffs on imported items have been rationalized periodically and stock limits on edible oils have been kept, to avoid hoarding. Inflation in oils and fats &amp;pulses and products have moderated to 5.62% and 2.52% respectively,&quot; another tweet said.</p> <p>&nbsp;</p> <p>This is the second instance since RBI adopted the inflation targeting approach that the retail inflation has breached the upper tolerance limit of 6 per cent for eight consecutive months - the earlier instance was from April 2020 to November 2020.</p> <p>&nbsp;</p> <p>Separately, the Index of Industrial Production (IIP) for July 2022 recorded a tepid year-on-year growth of 2.4 per cent, falling sharply from 12.7 per cent in June.</p> <p>&nbsp;</p> <p>The manufacturing sector grew by 3.2 per cent (a four-month low) and the electricity sector by 2.3 per cent (a six-month low). Mining sector witnessed a contraction of 3.3 per cent in July 2022 after a gap of 16 months despite the coal output increasing by 11.4 per cent in the same period.</p> <p>&nbsp;</p> <p>Rumki Majumdar, economist, at Deloitte India said the CPI and IIP data show just how much work the RBI has to do. &quot;The challenge is that the RBI is faced with a difficult balancing act, needing to raise interest rates aggressively to control inflation without impacting the recovery.&quot;</p> <p>&nbsp;</p> <p>While Icra chief economist Aditi Nayar said the CPI inflation print is expected to rise slightly to 7.1 per cent in September, India Ratings said retail inflation will fall below 6 per cent only by January next year.</p> <p>&nbsp;</p> <p>&quot;We expect inflation to ease in 2023, with an improved supply side situation and global economic weakening leading to falling energy prices,&quot; Deloitte's Majumdar said.</p> <p>&nbsp;</p> <p>The government has already announced restrictions on the export of wheat flour and more recently for rice which should stem domestic price pressures.</p> <p>&nbsp;</p> <p>&quot;The outlook continues to be uncertain due to cereal inflation, weakness in the currency, elevated global commodity prices, pick-up in services demand and revision of natural gas prices in 2HFY23 (due in October 2022),&quot; India-Ratings said expecting a 25-50 basis points increase in interest rates at the RBI's monetary policy review due later this month.</p> <p>&nbsp;</p> <p>As per the data released by the National Statistical Office (NSO) on Monday, inflation in food basket was 7.62 per cent in August, up from 6.69 per cent in July and 3.11 per cent in August 2021.</p> <p>&nbsp;</p> <p>On an annual basis, the rate of price rise was in excess of 10 per cent in the case of vegetables, spices, footwear, and 'fuel and light'.</p> <p>&nbsp;</p> <p>However, there was a contraction in inflation in eggs and almost flat in protein-rich 'meat and fish' in August.</p> <p>&nbsp;</p> <p>Inflation had touched a high of 7.79 per cent in April before decelerating to 6.71 per cent in July.</p> <p>&nbsp;</p> <p>The government has tasked RBI to ensure CPI inflation remains at 4 per cent with a margin of 2 per cent on each side.</p> <p>&nbsp;</p> <p>The RBI Governor-headed Monetary Policy Committee (MPC) is scheduled to be held from September 28 to 30.</p> <p>&nbsp;</p> <p>The key short-term lending rate (repo) has been raised by 140 basis points in three tranches since May this year. The last two hikes were 50 basis points each.</p> <p>&nbsp;</p> <p>Former RBI Executive Director and MPC Member Mridul Saggar said inflation is continuing to be higher than comfortable but is expected to trend down from October.</p> <p>&nbsp;</p> <p>&quot;With some more rate hikes, the problem of negative real deposit rates can be addressed... inflation could trend down from October due to base effects, lagged impact of monetary policy tightening and expected improvement in supply chains,&quot; he said.</p> <p>&nbsp;</p> <p>Currently, Saggar is IEPFA Chair Professor at NCAER.</p> <p>&nbsp;</p> <p>NSO said the price data were collected from selected 1,114 urban markets and 1,181 villages covering all States/UTs.</p> <p>&nbsp;</p> <p>Narender Wadhwa, President of the Commodity Participants Associations of India (CPAI), said that retail inflation rising to 7 per cent is worrisome.</p> <p>&nbsp;</p> <p>&quot;This figure may pressurise RBI to hike rates more aggressively to tame surging prices even at the cost of the economy,&quot; he said and added that inflation is a global phenomenon and all countries are grappling with it.</p> <p>&nbsp;</p> <p>As per the data, the retail inflation in rural and urban India was 7.15 per cent and 6.72 per cent, respectively.</p> <p>&nbsp;</p> <p>The inflation was above 8 per cent in West Bengal, Gujarat and Telangana.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/12/retail-inflation-inches-up-to-7-in-august-over-high-food-prices.html http://www.theweek.in/news/biz-tech/2022/09/12/retail-inflation-inches-up-to-7-in-august-over-high-food-prices.html Mon Sep 12 23:03:06 IST 2022 govt-working-on-developing-electric-highways--nitin-gadkari <a href="http://www.theweek.in/news/biz-tech/2022/09/12/govt-working-on-developing-electric-highways--nitin-gadkari.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2022/4/3/Union-Minister-for-Road-Transport-and-Highways-Nitin-Gadkari-speaks-sept-2022-pti.jpg" /> <p>The government is working on developing electric highways, which will be powered by solar energy, that will facilitate the charging of heavy duty trucks and buses, Union road transport and highways minister Nitin Gadkari said on Monday.</p> <p>&nbsp;</p> <p>Addressing an event organised by the Indo-American Chamber of Commerce (IACC), Gadkari reiterated that the government wants to develop India's public transport system on electricity.</p> <p>&nbsp;</p> <p>&quot;The government is strongly encouraging solar and wind energy-based charging mechanisms for electric mobility.</p> <p>&nbsp;</p> <p>&quot;We are also working on developing electric highways, which will be powered by solar energy and this will facilitate charging of heavy duty trucks and buses while running,&quot; he said.</p> <p>&nbsp;</p> <p>An electric highway generally refers to a road which supplies power to vehicles travelling on it, including through overhead power lines.</p> <p>&nbsp;</p> <p>Gadkari said that the government is also encouraging toll plazas to be powered by solar energy.</p> <p>&nbsp;</p> <p>The minister said the road ministry has conducted route optimisation exercises across major corridors and has designed newer alignment.</p> <p>&nbsp;</p> <p>Emphasising that a well developed infrastructure enhances economic activities, creates new businesses and promotes job creation, Gadkari said, &quot;We are constructing 26 greenfield expressways.&quot;</p> <p>&nbsp;</p> <p>With the launch of PM Gati Shakti Master Plan, he said projects will get faster clearance and it would cut down logistic costs.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/12/govt-working-on-developing-electric-highways--nitin-gadkari.html http://www.theweek.in/news/biz-tech/2022/09/12/govt-working-on-developing-electric-highways--nitin-gadkari.html Mon Sep 12 14:52:35 IST 2022 crude-oil-futures-decline-on-low-demand <a href="http://www.theweek.in/news/biz-tech/2022/09/12/crude-oil-futures-decline-on-low-demand.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2022/7/2/OIL-petroleum-products-shipment-trade-crude-shut.jpg" /> <p>Crude oil futures on Monday declined by 0.1 per cent to Rs 6,902 per barrel as participants trimmed their positions on low demand.</p> <p>&nbsp;</p> <p>On the Multi Commodity Exchange, crude oil for September delivery fell by Rs 7 or 0.1 per cent to Rs 6,902 per barrel with a business volume of 8,746 lots.</p> <p>&nbsp;</p> <p>Globally, West Texas Intermediate crude oil was trading 0.61 per cent lower at USD 86.26 per barrel, and Brent crude was down by 0.42 per cent to USD 92.45 per barrel in New York.&nbsp;&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/12/crude-oil-futures-decline-on-low-demand.html http://www.theweek.in/news/biz-tech/2022/09/12/crude-oil-futures-decline-on-low-demand.html Mon Sep 12 14:18:26 IST 2022 indian-railways-revenue-up-38-pc-to-rs-95486-cr-till-aug-end <a href="http://www.theweek.in/news/biz-tech/2022/09/11/indian-railways-revenue-up-38-pc-to-rs-95486-cr-till-aug-end.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2021/1/13/Indian-Railways-trains-parked-pti.jpg" /> <p>The overall revenue of Indian Railways at the end of August 2022 was Rs 95,486.58 crore, showing an increase of Rs 26,271.29 crore or 38 per cent over the corresponding period of last year, an official statement said on Sunday.</p> <p>The revenue from passenger traffic was Rs 25,276.54 crore, an increase of Rs 13,574.44 crore (116 per cent) year-on-year.</p> <p>Passenger traffic also increased compared to last year in both the segments, reserved and unreserved. The growth from the long distance reserved mail express trains has been sharper than the same in passenger and suburban trains, the Railways said.</p> <p>The other coaching revenue stood at Rs 2,437.42 crore, higher by Rs 811.82 crore (50 per cent) over the corresponding period of last year.</p> <p>This is being fuelled by robust growth in the parcel segment of Indian Railways, the statement added.</p> <p>Goods revenue climbed by Rs 10,780.03 crore (or 20 per cent) to Rs 65,505.02 crore till August-end this year.</p> <p>This has been achieved through incremental loading of more than 58 MT and 18 per cent growth in the net tonne-kilometers (NTKMs) during the period. Food grains, fertiliser, cement, mineral oil, container traffic and balance other goods segments have been important contributors in this growth, in addition to the coal transportation.</p> <p>The sundry revenue was Rs 2,267.60 crore, showing an increase of Rs 1105 crore or 95 per cent over the corresponding period of last year, it added.</p> <p>Railways' total revenue during the entire last fiscal (2021-22) stood at Rs 1,91,278.29 crore.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/11/indian-railways-revenue-up-38-pc-to-rs-95486-cr-till-aug-end.html http://www.theweek.in/news/biz-tech/2022/09/11/indian-railways-revenue-up-38-pc-to-rs-95486-cr-till-aug-end.html Sun Sep 11 20:35:51 IST 2022 ford-employees-hope-for-better-severance-package-at-tripartite-m <a href="http://www.theweek.in/news/biz-tech/2022/09/10/ford-employees-hope-for-better-severance-package-at-tripartite-m.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/2020/images/2021/1/13/bonnet-of-a-new-Ford-Aspire-car-ford-reu.jpg" /> <p>Employees at the factory of auto major Ford in Chennai have set their expectations for a positive outcome on the tripartite talks scheduled to be held next week to discuss the severance package offered by the US-based automobile manufacturer.</p> <p>&nbsp;</p> <p>Employees at the factory of auto major Ford here have set their expectations for a positive outcome on the tripartite talks scheduled to be held next week to discuss the severance package offered by the US-based automobile manufacturer.</p> <p>&nbsp;</p> <p>The development comes in the backdrop of the recent announcement by Ford India which had said that it has continuously made efforts to negotiate a 'fair and reasonable' severance package with the union, spanning 68 meetings including discussions with senior government officials soon after the company's business restructuring exercise was announced in September 2021.</p> <p>&nbsp;</p> <p>Maintaining that the company always cared for its employees, Ford said its attempts to negotiate a fair severance package did not yield results because of the union's 'unreasonable' demands.</p> <p>&nbsp;</p> <p>Responding to it, Ford India Employees Union representatives said the company has left out the tax deduction on the severance package as the employees would be receiving a meagre amount despite serving for several years.</p> <p>&nbsp;</p> <p>&quot;The factory has been shut since August 31 and so far no employees are present at the unit now. Only businesses like after sales (service), sale of parts are being done now. We are not even allowed to enter the factory. They are just asking us to accept the offer they have made,&quot; a union representative told PTI.</p> <p>&nbsp;</p> <p>&quot;They have also sent a copy of the severance package settlement as a courier to the residences of the employees so that the family will also accept it,&quot; an employee, who has been serving for 19 years at the Maraimalai Nagar factory situated about 50 kilometres from here, said.</p> <p>&nbsp;</p> <p>On the severance package, he said very few senior employees would receive a good package of about Rs 80 lakh and for people like us who had served for nearly 20 years around Rs 44 lakh but these amounts are without the deduction of taxes.</p> <p>&nbsp;</p> <p>&quot;Our main point is that the severance package announced by the company is not acceptable. We are discussing on September 13 in the presence of district labour authorities on these issues,&quot; the employee said.</p> <p>&nbsp;</p> <p>According to Ford, &quot;the company has decided to roll out the final severance settlement offer to employees which on average is equivalent to 130 days of gross wages per completed year of service.&quot;</p> <p>&nbsp;</p> <p>The final severance settlement offer communicated by the company exceeds what the applicable statutes call for and is higher than the industry benchmarks, the company said.</p> <p>&nbsp;</p> <p>&quot;With a cumulative average severance of Rs 41 lakh per employee (from a minimum amount of Rs 33 lakh and a maximum cap of Rs 85 lakh), the final severance settlement offer translates to an average of about 4.6 years-56 month salary for each employee, assuring employees with adequate financial cushion and adequate time to decide their next action,&quot; the statement said.</p> <p>&nbsp;</p> <p>The company strongly encourages employees to accept and sign up for the final severance settlement offer, valid from September 5, 2022 to September 23, 2022, for their own and family's future, the statement said.</p> <p>&nbsp;</p> <p>Ford also clarified that post the deadline of the severance package, if the company were to retrench workers, the employees would only be entitled to severance pay of 15 days per completed year of service.</p> <p>&nbsp;</p> <p>&quot;The company continues to provide the employees without placement support as previously communicated,&quot; it said.</p> <p>&nbsp;</p> <p>Referring to it, the employee said, &quot;The intention is for better pay since the future is not bright for people like me. I am 39-years-old and have to take care of my family. There are a lot of people like me (facing this issue). Discussions would be held at the tripartite meeting hoping for a better package&quot;.</p> http://www.theweek.in/news/biz-tech/2022/09/10/ford-employees-hope-for-better-severance-package-at-tripartite-m.html http://www.theweek.in/news/biz-tech/2022/09/10/ford-employees-hope-for-better-severance-package-at-tripartite-m.html Sat Sep 10 16:43:59 IST 2022 minister-nitin-gadkari-wants-skybuses-for-bengaluru <a href="http://www.theweek.in/news/biz-tech/2022/09/10/minister-nitin-gadkari-wants-skybuses-for-bengaluru.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2022/4/3/Union-Minister-for-Road-Transport-and-Highways-Nitin-Gadkari-speaks-sept-2022-pti.jpg" /> <p>Union Minister for Road Transport and Highways Nitin Gadkari on Friday said the Centre would study introducing skybuses and build flyovers to decongest roads in Bengaluru.</p> <p>&nbsp;</p> <p>It is difficult to widen the existing roads in Bengaluru. So, we have taken two decisions. We will not acquire land but we will build three-deck or grade separators as was done in Chennai, Gadkari told reporters.</p> <p>&nbsp;</p> <p>He has been here for the last two days attending a programme Manthan', a session on improving road infrastructure and mobility. Ministers and government officials of the Centre and the State attended the session.</p> <p>&nbsp;</p> <p>We are working on public transport on electricity. Technology has changed a lot. It's difficult to acquire land in Bengaluru. So, I suggested the use of skybus like in the Philippines and other countries, the Union Minister said.</p> <p>&nbsp;</p> <p>Gadkari said he has directed the officials of the National Highway Authority of India to consult experts in the world to study the condition in Bengaluru and find one such solution for the city.</p> <p>&nbsp;</p> <p>He said his Ministry financially supports the project.</p> <p>&nbsp;</p> <p>Since this is our department's mandate, Karnataka Chief Minister Basavaraj Bommai discussed with me. We are studying it (skybus) and we want to do it. If lakhs of people travel in the sky then the problem below will be solved, he said.</p> <p>&nbsp;</p> <p>Elaborating on his discussion with Bommai on improving Bengaluru's connectivity with other cities, Gadkari said a Bengaluru-Chennai greenfield expressway at a length of 262 km at an estimated cost of Rs 17,000 crore has been approved.</p> <p>&nbsp;</p> <p>Another project is the 1,600- km long Surat-Sholapur-Kurnool-Chennai, which connects Punjab, Haryana, Uttarakhand, Himachal Pradesh, Rajasthan, Gujarat and Delhi.</p> <p>&nbsp;</p> <p>This road runs 177 km into certain underdeveloped regions of Karnataka such as Akkalkot, Kalaburagi, Yadgir and Raichur. The project would reduce the travel distance between north and south, Gadkari said.</p> <p>&nbsp;</p> <p>The Bengaluru-Kadapa-Vijayawada Highway is another prominent project, which would be 342-km long at a cost of Rs 20,000 crore. The land acquisition is on, the Minister said.</p> <p>&nbsp;</p> <p>According to him, the 288-km long Bengaluru satellite ring road at a cost of Rs 17,000 crore would solving the problems Bengaluru faces.</p> <p>&nbsp;</p> <p>Gadkari said Ministry is also making 700-km long greenfield express highway from Pune to Bengaluru at a cost of Rs 45,000 crore. The peripheral ring road of Bengaluru would be connected with other cities.</p> <p>&nbsp;</p> <p>The Pune-Bengaluru alignment was finalised, he added.</p> <p>&nbsp;</p> <p>We have made a small change in the Pune-Bengaluru Highway. We are now making it Mumbai-Bengaluru Highway. The journey time from Pune to Bengaluru via expressway will be 4-and-a-half hours. We are taking efforts in this direction, the Minister said.</p> <p>&nbsp;</p> <p>The journey time from Mumbai to Bengaluru would only be six hours, Gadkari said.</p> <p>&nbsp;</p> <p>This greenfield (Mumbai-Bengaluru) is a new alignment which is different from Pune-Sholapur, Pune-Kolhapur. The cost of this project is Rs 45,000 crore. The project would be completed by 2026, the Minister said.</p> <p>&nbsp;</p> <p>Speaking about the Satellite Ring Road around Bengaluru, he said it is 288-km long at a cost of Rs 16,000 crore. There are 10 packages in it. The contract for the five packages has been awarded out of which work is in progress in three projects and 60 per cent work is completed. The remaining five projects would be awarded in three or four months, Gadkari said.</p> <p>&nbsp;</p> <p>He said another corridor is the Bengaluru, Chittoor, Vellore, Kanchipuram, Tiruvallur, and Chennai.</p> <p>&nbsp;</p> <p>Talking about the two-day session, Gadkari said the road safety Bill was recently passed by Parliament. On the basis of it, lots of reforms have happened in this sector.</p> <p>&nbsp;</p> <p>Six States have implemented it 100 per cent while 14 States have implemented it by 80 per cent, the Minister said.</p> <p>&nbsp;</p> <p>According to him, the two-day session was aimed at establishing cooperation, coordination and communication between the States.</p> <p>&nbsp;</p> <p>In this Manthan under the Bharatmala series, 80 Ministers and 140 officials including principal secretaries and chief engineers from the Centre and the States from the public works departments, transport and industry participated, Gadkari said.</p> http://www.theweek.in/news/biz-tech/2022/09/10/minister-nitin-gadkari-wants-skybuses-for-bengaluru.html http://www.theweek.in/news/biz-tech/2022/09/10/minister-nitin-gadkari-wants-skybuses-for-bengaluru.html Sat Sep 10 14:03:24 IST 2022 icici-prudential-mf-launches-icici-prudential-nifty50-equal-weight-index-fund <a href="http://www.theweek.in/news/biz-tech/2022/09/14/icici-prudential-mf-launches-icici-prudential-nifty50-equal-weight-index-fund.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/sci-tech/image/coins-money-saving-growth-finance-investment-fund-finance-business-shut.jpg" /> <p><b>Highlights:</b></p> <p>· &nbsp;&nbsp;ICICI Prudential Nifty 50 Equal Weight Index Fund invests in constituents of Nifty50 Equal Weight Index</p> <p>· &nbsp;&nbsp;As compared to the Nifty 50 index, an equal weight index is less concentrated in terms of the top 5 sectors</p> <p>· &nbsp;&nbsp;An equal weight index has empirically higher dividend yield as compared to a market capitalization weighted index as it allocates funds equally to its components</p> <p>· &nbsp;&nbsp;Nifty50 Equal Weight Index has grown at 14.15% annually since the beginning of 2005</p> <p><b>Mumbai, September 14, 2022</b>: ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Nifty50 Equal Weight Index Fund. The scheme will invest in the constituents of the Nifty50 Equal Weight Index. The NFO opens on September 14, 2022, and closes on September 28, 2022.</p> <p>Speaking on the launch of the product, Mr. Chintan Haria, Head- Product Development &amp; Strategy, ICICI Prudential AMC said, “Since indices perform differently under variable market conditions, it is prudent to diversify across indices with different weightage methodology. Nifty50 Equal Weight Index is less concentrated in the top 5 sectors as compared to the Nifty 50 Index, thus providing an excellent diversification opportunity. Also, there is no size bias as the index tries to reduce the impact of bigger companies on the index performance.”</p> <p><b>Why should investors consider ICICI Prudential Nifty50 Equal Weight Index Fund?</b></p> <p>· &nbsp;&nbsp;The index invests in the constituents of Nifty 50 Index which consists of the top 50 stocks in India</p> <p>based on market capitalization</p> <p>· &nbsp;&nbsp;An equal weight index has empirically higher dividend yield as compared to a market capitalization</p> <p>weighted index as it allocates funds equally to its components</p> <p>· &nbsp;&nbsp;The scheme exhibits smart-beta characteristics as the index intends to have no size bias</p> <p>· &nbsp;&nbsp;Will allow non-demat account holders to seek exposure to an equal weighted index fund</p> <p>· &nbsp;&nbsp;The index is less concentrated and helps in providing stability to the portfolio</p> <p>&nbsp;</p> <p><b>Index Performance</b></p> <p>Nifty 50 Equal Weight Index has grown at 14.15% annually since the beginning of 2005. Rs. 10,000 Invested in Nifty50 Equal Weight Index in 2005 would be worth Rs.1,03,683 by end of August 2022.</p> <p>&nbsp;</p> <p>Data as on 30 August 2022. Source MFIE. Daily NAVs rebased to 10000 Past performances may or may not sustain in the future. The Total Return Variant of the Index has been used. The performance figures pertain to the Index and do not in any manner indicate the returns/performance of the Scheme Source. The percentage Growth is in CAGR (Compounded Annual Growth Rate) terms</p> <p>&nbsp;</p> <p><b>Nifty50 Equal Weight Index is less concentrated in the top 5 sectors as compared to Nifty 50 Index. This shows that the index is more diversified</b></p> <p>Data as on 30 August 2022. Source:&nbsp;<a href="http://www.niftyindices.com">www.niftyindices.com</a>&nbsp;. The sector(s)/stock(s) mentioned in this document do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future positions in the sector(s)/stock(s).&nbsp;&nbsp;</p> <p>&nbsp;</p> <p><b>Nifty50 Equal Weight Index has outperformed Nifty 50 Index in 5 out of last 10 Calendar Years</b></p> <p>Data as on 30 August 2022. Source MFIE. Past performance may or may not be sustained in the future. The Total Return Variant of the Index has been used. The performance figures pertain to the Index and do not in any manner indicate the returns/performance of the Scheme Source. Green Indicates outperformance performance while white indicates underperformance</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;</p> <p>For further information, please contact Adil Bakhshi - +91 22 6647 0274,&nbsp;<a href="mailto:pr@icicipruamc.com">pr@icicipruamc.com</a></p> <p><b>Riskometer &amp; Disclaimer</b>&nbsp;&nbsp;</p> <p>Mutual Fund investments are subject to market risks, read all scheme related documents carefully.</p> <p>Disclaimer of NSE Indices Limited (NSE Indices): The Product(s) are not sponsored, endorsed, sold or promoted by NSE Indices Limited (&quot; NSE Indices&quot;). NSE Indices does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the Nifty 50 Equal Weight Index to track general stock market performance in India. The relationship of NSE Indices to the Issuer is only in respect of the licensing of certain trademarks and trade names of its Index which is determined, composed and calculated by NSE Indices without regard to the Issuer or the Product(s). NSE Indices does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the Nifty Bank Index. NSE Indices is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE Indices has no obligation or liability in connection with the administration, marketing or trading of the Product(s).</p> <p>NSE Indices do not guarantee the accuracy and/or the completeness of the Nifty 50 Equal Weight Index or any data included therein and they shall have no liability for any errors, omissions, or interruptions therein. NSE Indices does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the Nifty 50 Equal Weight Index or any data included therein. NSE Indices makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE Indices expressly disclaim any and all liability for any damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.</p> <p>&nbsp;</p> <p><i>Disclaimer: This is a sponsored post, and the views expressed are those of the sponsor/author and do not represent the stand and views of THE WEEK.</i></p> http://www.theweek.in/news/biz-tech/2022/09/14/icici-prudential-mf-launches-icici-prudential-nifty50-equal-weight-index-fund.html http://www.theweek.in/news/biz-tech/2022/09/14/icici-prudential-mf-launches-icici-prudential-nifty50-equal-weight-index-fund.html Wed Sep 14 12:16:16 IST 2022 india-not-part-of-ipef-s-trade-pillar--broader-consensus-yet-to- <a href="http://www.theweek.in/news/biz-tech/2022/09/10/india-not-part-of-ipef-s-trade-pillar--broader-consensus-yet-to-.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2022/4/3/Piyush-Goyal--IPEF-in-Los-Angeles-Sept9-2022-PTI.jpg" /> <p>India has not agreed to the commitments of the trade pillar of the 14-member Indo-Pacific Economic Framework (IPEF) as broader consensus has so far not emerged on certain issues like environment, labour and public procurement.</p> <p>&nbsp;</p> <p>Briefing media after the conclusion of the two-day IPEF ministerial meet, commerce and industry minister Piyush Goyal said that India would continue to engage with the trade track in the IPEF and will wait for the final contours to be decided on the trade pillar before it formally associates with that track.</p> <p>&nbsp;</p> <p>&quot;On one pillar which deals primarily with trade, the contours of the framework particularly, any commitments required on environment, labour, the digital trade, public procurement are certain areas in which a broader consensus has yet to emerge amongst all the nations.</p> <p>&nbsp;</p> <p>&quot;We have yet to see what benefits member countries will derive and whether any conditionalities on, for example, environment may discriminate against developing countries who have the imperative to provide low cost and affordable energy to meet the needs of a growing economy. We are also in the process of firming up our own digital framework and laws, particularly regarding privacy and data,&quot; Goyal told reporters here.</p> <p>&nbsp;</p> <p>All the other 13 Indo-Pacific Economic Framework for prosperity countries have joined the four pillars -- trade, supply chains, clean economy, and fair economy.</p> <p>&nbsp;</p> <p>A ministerial statement on three subjects -- supply chains, clean economy, and fair economy -- and a ministerial text on trade pillar was issued after the conclusion of the meeting.</p> <p>&nbsp;</p> <p>While India was mentioned in three statements about supply chains, clean economy, and fair economy, there was no mention of India in the ministerial text about the trade pillar.</p> <p>&nbsp;</p> <p>The IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23 in Tokyo. The 14 IPEF partners represent 40 per cent of global GDP and 28 per cent of global goods and services trade.</p> <p>&nbsp;</p> <p>The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy.</p> <p>&nbsp;</p> <p>Goyal also said that &quot;India, while continuing to engage with the trade track in the IPEF, will wait for the final contours to be decided before we formally associate with the trade track&quot;.</p> <p>&nbsp;</p> <p>In the meantime, he said, Indian officials will be participating in the discussions with an open mind and in the best interests of the people and businesses of India.</p> <p>&nbsp;</p> <p>When asked about the key areas of concern, he said digital trade, linkage of environment and labour to trade and possible binding commitments of any nature juxtaposed with the benefits that India will receive as a developing economy.</p> <p>&nbsp;</p> <p>&quot;We believe that certain responsibilities of the developed world, the developed countries should also be an integral part of any such agreement. And that is a matter which will require deeper engagement and more consultation,&quot; he added.</p> <p>&nbsp;</p> <p>On all other three pillars related to supply chains, clean economy and fair economy, India is &quot;very much&quot; comfortable with the final outcome and text and &quot;I have joined the ministerial declaration,&quot; he said.</p> <p>&nbsp;</p> <p>Further, he said that this is only the first ministerial declaration and all the countries should be complimented for the speed with which they have laid down the broad contours of future engagement.</p> <p>&nbsp;</p> <p>&quot;Never before in such multilateral engagements has one seen such speed which shows the commitment of all the 14 countries... And I am sure, together, this group of 14 countries will define the rules of trade amongst countries which believe in fair play and transparency, rules-based trading in the future,&quot; Goyal said.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/10/india-not-part-of-ipef-s-trade-pillar--broader-consensus-yet-to-.html http://www.theweek.in/news/biz-tech/2022/09/10/india-not-part-of-ipef-s-trade-pillar--broader-consensus-yet-to-.html Sat Sep 10 11:24:25 IST 2022 what-are-the-odds-on-fairplay <a href="http://www.theweek.in/news/biz-tech/2022/09/13/what-are-the-odds-on-fairplay.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/13/fairplay.jpg" /> <p><b>September 12:&nbsp;</b>FairPlay, as of today, is India’s first certified and most trusted betting exchange founded and managed by industry veterans that have worked tirelessly to create an experience sports enthusiasts will not only enjoy but also largely benefit from. With an aim to dominate the Asian gambling and sports betting market in the years to come, FairPlay is steadily growing in popularity and business collectively.</p> <p>&nbsp;</p> <p>A number of factors have contributed to its swift climb up the ladder in no time, but what makes FairPlay a cut above the rest is its dedication to providing the users with the best, most profitable odds in the market. “Odds”, by definition, are the ratio of winnings to the stake. The probability of every event is different but can easily be calculated from the odds.&nbsp;</p> <p>&nbsp;</p> <p>On FairPlay, the player bets against other players, and the popularity and volume of a stake are what decide the odds. Contrastingly, a player on other platforms bets against the house and not other players, so the odds depend on no other factors than the choice of the house, thus reducing profitability for the users. FairPlay maximizes user profitability by basing it on the players’ bets.</p> <p>&nbsp;</p> <p>A complete package of a great user experience, complete security of data and money and maximum profitability, FairPlay is a gamer’s paradise offering a 300% first and second deposit bonus and a range of lucrative bonus offers. Visit&nbsp;<a href="https://fairplay.club/">https://fairplay.club/</a>&nbsp;to see for yourself how they provide significantly better odds and a clean chance at making more money than you could anywhere else!&nbsp;</p> <p>&nbsp;</p> <p>For more information, tutorials and exciting contests, visit their social media profiles (@fairplay_india) on Instagram, Twitter and Facebook! Visit https://fairplaynews.club/ for all sports updates, the latest news from the sports world and much more. May the odds be in your favour!</p> http://www.theweek.in/news/biz-tech/2022/09/13/what-are-the-odds-on-fairplay.html http://www.theweek.in/news/biz-tech/2022/09/13/what-are-the-odds-on-fairplay.html Tue Sep 13 10:55:57 IST 2022 iphone-sales-likely-to-be-around-7-million-in-2022--techarc <a href="http://www.theweek.in/news/biz-tech/2022/09/09/iphone-sales-likely-to-be-around-7-million-in-2022--techarc.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2022/4/3/iPhone-14-Plus--reu.jpg" /> <p>Sales of premium smartphone iPhone are likely to little over 7 million in India this year, market research and analyst firm Techarc said on Thursday.</p> <p>&nbsp;</p> <p>iPhone user mark is expected to cross 20 million this year, the firm said.</p> <p>&nbsp;</p> <p>&quot;Even though, iPhone is not a mass market smartphone, it has still enjoyed remarkable love and acceptance in India. Since its official launch in 2008, when just a little over 50,000 iPhones were sold in the country, today the iPhone is set to sell a little over 7 million smartphone units by the end of 2022,&quot; Techarc said.</p> <p>&nbsp;</p> <p>According to the firm, the iPhone added 10 million users in the last six years.</p> <p>&nbsp;</p> <p>Apple on Wednesday unveiled iPhone 14 series smartphones which will be available from September 16 onwards.</p> <p>&nbsp;</p> <p>&quot;The cohorts of frequent international business travelers and NRIs have a higher penetration of iPhones. At the same time, the states and union territories of India which have a significant population working outside the country also have a higher proportion of iPhone users. These states and UTs include Punjab, Gujarat, Andhra Pradesh and Telangana and Kerala,&quot; Techarc said.</p> <p>&nbsp;</p> <p>While iPhone sales in India are expected to clock 140 times growth in sales number since its launch in 2008, the Android smartphones, which have the widest range of choice, OEMs and price points have seen a growth of 49 times for the same period.</p> <p>&nbsp;</p> <p>Techarc said that a total of around 162 million smartphones are expected to be sold in India in 2022.</p> <p>&nbsp;</p> <p>&quot;The very high aspirational value of the iPhone is driving the gradual but steady switch from Android smartphones to iPhones. Currently, only a foldable smartphone form factor is something that can help Android ecosystem to retain its users in the ultra-premium category, which is a blend of productivity and uniqueness, adding to the personality of the users,&quot; Techarc said.</p> <p>&nbsp;</p> <p>The research and analysis firm said that iPhone has captured over 80 per cent of the ultra-luxury segment where Samsung is the only other major brand while others including OnePlus, OPPO, Vivo, Xiaomi and Google are attempting to carve their market pie.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/09/iphone-sales-likely-to-be-around-7-million-in-2022--techarc.html http://www.theweek.in/news/biz-tech/2022/09/09/iphone-sales-likely-to-be-around-7-million-in-2022--techarc.html Fri Sep 09 19:12:36 IST 2022 air-india-group-starts-vacating-its-offices-from-govt-owned-prop <a href="http://www.theweek.in/news/biz-tech/2022/09/09/air-india-group-starts-vacating-its-offices-from-govt-owned-prop.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biztech/images/air-india-reservation-office-mumbai-reuters.jpg" /> <p>The Air India Group has started vacating its offices, which are currently being operated from government-owned properties, from this month, as part of its strategy to consolidate workspaces across the country.</p> <p>&nbsp;</p> <p>The loss-making Air India and its international budget arm Air India Express were taken over by The Tata Group on January 27 this year, after successfully winning the bid for the airline on October 8, last year.</p> <p>&nbsp;</p> <p>Besides these two airlines, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier, AirAsia India.</p> <p>&nbsp;</p> <p>Air India, Air India Express and AirAsia India will be housed jointly in a modern office campus in the National Capital Region by March next year, in line with this consolidation strategy, which is being undertaken to improve collaboration and more easily deploy new technology, among others, according to a statement.</p> <p>&nbsp;</p> <p>Air India has its largest base of staff located in Airlines House, Safdarjung Complex, GSD Complex and IGI Terminal One in New Delhi.</p> <p>&nbsp;</p> <p>Staff working from these locations will move to an interim office space in Gurugram, before ultimately relocating to a campus at the newly-constructed Vatika One-on-One campus in early 2023, it said.</p> <p>&nbsp;</p> <p>Besides Air India, the Vatika One-on-One campus is being provisioned to accommodate Air India Express and AirAsia India, and the establishment of group-level functions for better capability, effectiveness and economies of scale across the airlines, as per the statement.</p> <p>&nbsp;</p> <p>The transition to the interim facility in NCR is being undertaken during the course of September, Air India said, adding that besides providing last-mile connectivity to the office premises from the closest public transport stations for ease of travel, flexible work hours are also being offered to employees.</p> <p>&nbsp;</p> <p>&quot;The consolidation of many premises under one roof, and the evolution from a regionalised to centralised structure, is a significant milestone in Air India's transformation journey,&quot; said Campbell Wilson, Managing Director and Chief Executive Officer, Air India.</p> <p>&nbsp;</p> <p>Together with the relocation and consolidation of offices, the airline's regionalised organisation structure will be progressively disbanded and replaced with a centralised one, which will allow consolidation of presently-dispersed teams, co-location of managers with their teams and physical adjacency of related functions, according to the statement.</p> <p>&nbsp;</p> <p>It also said that a senior team is also relooking at the offices in different cities which are housed in legacy premises, with some in Chennai and Kochi having already moved to modern office premises.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/09/air-india-group-starts-vacating-its-offices-from-govt-owned-prop.html http://www.theweek.in/news/biz-tech/2022/09/09/air-india-group-starts-vacating-its-offices-from-govt-owned-prop.html Fri Sep 09 18:07:39 IST 2022 fm-outlines-steps-to-check-operations-of-illegal-loan-apps <a href="http://www.theweek.in/news/biz-tech/2022/09/09/fm-outlines-steps-to-check-operations-of-illegal-loan-apps.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2022/4/3/online-Loan-app-apply-for-loan-digital-loan-shut.jpg" /> <p>Finance Minister Nirmala Sitharaman has discussed various issues related to illegal loan apps in a meeting and decided to take a host of measures to check operations of such apps, amid rising instances of digital fraud.</p> <p>&nbsp;</p> <p>Most of the digital lending apps are not registered with the central bank and operate by themselves. There have been increasing cases of alleged suicides of borrowers due to harassment by a few of the operators of digital lending apps.</p> <p>&nbsp;</p> <p>The meeting, chaired by the minister, was held on Thursday and it was decided that RBI will prepare a whitelist of all the legal apps and Ministry of Electronics and Information Technology (MeitY) will ensure that only these are hosted on app stores.</p> <p>&nbsp;</p> <p>The RBI will monitor the mule/rented' accounts that may be used for money laundering and to review/cancel dormant NBFCs to avoid their misuse.</p> <p>&nbsp;</p> <p>The central bank will also ensure that registration of payment aggregators be completed within a timeframe and no un-registered payment aggregator be allowed to function after that, the finance ministry said in a statement on Friday.</p> <p>&nbsp;</p> <p>As part of measures to check the proliferation of such apps, Ministry of Corporate Affairs (MCA) will identify shell companies and de-register them to prevent their misuse.</p> <p>&nbsp;</p> <p>Besides, steps should be taken to increase cyber awareness among customers, bank employees, law enforcement agencies and other stakeholders about these apps.</p> <p>&nbsp;</p> <p>All ministries or agencies have been asked to take all possible actions to prevent operations of such apps.</p> <p>&nbsp;</p> <p>During the meeting, the finance minister expressed concern over increasing instances of illegal loan apps offering loans/micro credits, especially to vulnerable and low-income group people at exorbitantly high interest rates and processing/hidden charges, and predatory recovery practices involving blackmailing, criminal intimidation etc.</p> <p>&nbsp;</p> <p>Sitharaman also noted the possibility of money laundering, tax evasions, breach/privacy of data, and misuse of unregulated payment aggregators, shell companies, defunct NBFCs etc. for perpetrating such actions, it said.</p> <p>&nbsp;</p> <p>The meeting was attended by Finance Secretary, Economic Affairs Secretary, Revenue Secretary who is also holding additional charge of Corporate Affairs Financial Services Secretary and MeitY Secretary, RBI Deputy Governor and Executive Director, RBI.</p> http://www.theweek.in/news/biz-tech/2022/09/09/fm-outlines-steps-to-check-operations-of-illegal-loan-apps.html http://www.theweek.in/news/biz-tech/2022/09/09/fm-outlines-steps-to-check-operations-of-illegal-loan-apps.html Fri Sep 09 17:40:32 IST 2022 tata-mahindra-lime-up-new-electric-vehicle-models <a href="http://www.theweek.in/news/biz-tech/2022/09/09/tata-mahindra-lime-up-new-electric-vehicle-models.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2020/3/27/tata-motors-reuters.jpg" /> <p>Homegrown Tata Motors leads India’s passenger electric vehicle market currently. Aided by the Nexon EV and the Tigor EV offerings, the company currently commands 88 per cent market share in the EV market. The company is now looking to expand its offering and will soon launch an electric variant of its entry-level hatchback Tiago.</p> <p>Elsewhere, Mahindra &amp; Mahindra is taking its own steps towards electric vehicles. On the eve of the World EV Day, the company showcased its latest offering—the XUV400, which will be its first all-electric SUV.</p> <p>Globally, governments have rolled out firm plans to tackle climate change. Corporations too have announced their own plans towards reducing their carbon emissions. Electric Vehicles are going to play a big role here. Major global automakers have announced plans to stop making ICE (internal combustion engine) vehicles in a decade.</p> <p>In India, EV adoption has been slow for various reasons, including, limited charging infrastructure, high costs of acquisition and few options. But, companies here, too, are slowly ramping up their EV offerings.</p> <p>Tata Motors already has around 40,000 EVs on road and has already unveiled plans to build a comprehensive portfolio. Shailesh Chandra, MD of Tata Motors Passenger Vehicles says the company is committed to launch 10 EVs in different product segments, body styles and affordability levels.</p> <p>Earlier this year, it launched the Nexon EV Max, which offers a higher range compared to the standard Nexon EV. It also showcased two new EV concepts – Avinya and Curvv. Both, though, are still at least a couple of years away from launch.</p> <p>In the meanwhile, Tata is gearing up for another EV launch – the Tiago. The hatchback is currently available in petrol and CNG versions and will be launched as an EV as well soon. This is likely to be the most affordable electric hatchback available when launched.</p> <p>“Earlier this year, we had unveiled our 3-phased approach towards building a comprehensive EV portfolio. Today, is a momentous occasion for us, as we announce the expansion of our EV portfolio further with a new mainstream intervention from the stable of Tata Motors, the Tiago EV. As a leader, we are now pioneering the next phase of the EV market expansion, which will bring all the EV benefits of an exciting yet easy drive, silent cabin, low cost of ownership to a more accessible level,” said Chandra.</p> <p>Tata Motors may be the dominant player in India’s EV market right now; its cross-town rival Mahindra is gearing up for a big push in this segment. Last month, the company had shown off its range of Born EVs, which will be all-new range of ground-up electric vehicles from the SUV maker. These SUVs could be a game changer for Mahindra, but the first of the product is only expected sometime in 2024. On Thursday, it unveiled the electric XUV400. This is based on the existing XUV300 compact SUV.</p> <p>While the XUV300 comes in petrol and diesel engine offerings, the XUV400 gets a 39.4kWh battery pack. The company says it can accelerate from zero to 100 in just 8.3 seconds, making it the quickest in the class. The claimed range under testing conditions is 456 km.</p> <p>“The Mahindra Group is committed to becoming carbon neutral by 2040 and our EV game plan is at the core of this mission. The market is extremely receptive to a clean, enjoyable and capable vehicle, and we foresee stupendous growth in the category,” said Veejay Nakra, president, automotive division, M&amp;M.</p> <p>Mahindra will begin test drives of the XUV400 in 16 cities from December. The company will commence bookings in January and start deliveries from the end of January. In phase one, the XUV400 will be launched in 16 cities. The pricing will also be revealed in January.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/09/tata-mahindra-lime-up-new-electric-vehicle-models.html http://www.theweek.in/news/biz-tech/2022/09/09/tata-mahindra-lime-up-new-electric-vehicle-models.html Fri Sep 09 15:23:33 IST 2022 govt-to-take-action-against-illegal-loan-apps <a href="http://www.theweek.in/news/biz-tech/2022/09/09/govt-to-take-action-against-illegal-loan-apps.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/india/2017/july/corruption-cash-afp.jpg" /> <p>The government will crack down on illegal loan applications which operate outside regular banking channels. There have been multiple complaints against these apps as they offer loans to economically vulnerable groups at exorbitant rates. Last year, the RBI in its report found out that over 600 illegal apps were in operation. Many of these apps were believed to be run by Chinese nationals.</p> <p>Finance Minister Nirmala Sitharaman chaired a meeting to discuss the issue, and expressed concerns over the operations of these illegal apps which were found on the digital platforms. “The Finance Minister expressed concern on increasing instances of illegal loan apps offering loans, microcredits, especially to vulnerable and low-income group people at exorbitantly high interest rates and processing, hidden charges, and predatory recovery practices involving blackmailing, criminal intimidation. Sitharaman also noted the possibility of money laundering, tax evasions, breach/privacy of data, and misuse of unregulated payment aggregators, shell companies, defunct NBFCs for perpetrating such actions,” a finance ministry statement said.</p> <p>The meeting was attended by senior officers like the Finance Secretary, Electronics &amp; Information technology; Deputy Governor, RBI, and Executive Director, RBI, during which the roadmap to monitor these loan apps was decided.</p> <p>The high-level meeting decided that the RBI will prepare a 'whitelist' of all the legal apps and the IT ministry will ensure that only these apps are hosted on App stores. The RBI will monitor the mule and rented accounts that may be used for money laundering and review and cancel dormant NBFCs to avoid their misuse. The central bank will also ensure that registration of payment aggregators is completed within a time frame and no unregistered payment aggregator is allowed to function after that.</p> <p>The ministry of corporate affairs will identify shell companies and deregister them to prevent their misuse. Steps will also be taken to increase cyber awareness for customers, bank employees, law enforcement agencies and other stakeholders.</p> http://www.theweek.in/news/biz-tech/2022/09/09/govt-to-take-action-against-illegal-loan-apps.html http://www.theweek.in/news/biz-tech/2022/09/09/govt-to-take-action-against-illegal-loan-apps.html Fri Sep 09 15:03:16 IST 2022 no-ca-needed-for-this-tax-saving-hack <a href="http://www.theweek.in/news/biz-tech/2022/09/10/no-ca-needed-for-this-tax-saving-hack.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/10/taxsavings.jpeg" /> <p>When it comes to saving on taxes, you've got a lot of options. There are many ways to keep more of your money, and there are also different kinds of&nbsp;<a href="https://www.canarahsbclife.com/tax-saving-plans.html"></a><a href="https://www.canarahsbclife.com/tax-saving-plans.html"><u>i</u></a>&nbsp;<a href="https://www.canarahsbclife.com/tax-saving-plans.html"><u><b>ncome tax saving schemes</b></u></a>&nbsp;offered by the government of India.</p> <p>In this article, we'll talk about the different&nbsp;<b>income tax savings schemes</b>&nbsp;offered by the government of India and how to calculate your income tax before knowing what's left with you after taxes have been taken out.</p> <p><b>Income Tax Saving Schemes</b></p> <p>Investing in&nbsp;<b>income tax saving schemes</b>&nbsp;can reduce your tax burden and help you save money for retirement. Section 80C is one of the most popular section to save taxes, as it allows investors to save up to Rs. 1.5 lakhs per year on their income tax. Essential tools for reducing income taxes include:</p> <p>&nbsp;</p> <p><b>Public Provident Fund (also known as PPF):</b></p> <p>This is one of the most popular&nbsp;<b>income tax saving schemes&nbsp;</b>that offer high returns on your investments with a guaranteed return of 8% per annum on your deposits for up to 15 years.</p> <p><b>Unit Linked Insurance Plans (ULIPs):</b></p> <p>First, ULIPs allow investors to claim a maximum exemption of Rs. 1 lakh per year under Section 80C. This means that you are able to earn up to Rs. 1 lakh a year in your ULIP without having to pay taxes on it.</p> <p><b>Tax Saving Fixed Deposit:</b></p> <p>Fixed deposits are a great way to save money while earning interest. But there's a limit on how much you can invest in Fixed Deposits each year to receive tax benefits under Section 80C.</p> <p><b>Employee Provident Fund:</b>&nbsp;</p> <p>Another investment program eligible for tax benefits under Section 80C up to Rs. 1 lakh annually is Employee Provident Fund, or EPF.</p> <p><b>National Savings Certificates (also known as NSCs):</b></p> <p>Under Section 80C, you can utilize National Saving Certificate to generate interest that reduces your taxable income by up to Rs. 1 lakh annually.</p> <p>&nbsp;</p> <p>You can invest up to Rs. 1 lakh each year in NSCs and receive tax-free returns on your investment of up to 8.5% per annum. In addition to this, the interest earned on NSCs is exempt from wealth tax and capital gains tax</p> <p><b>Infrastructure Bonds:</b>&nbsp;&nbsp;</p> <p>This investment option permits an annual exemption of up to Rs. 20,000 under Section 80C. Investors are permitted to seek a tax exemption on interest payments of Rs. 15,000 under Section 80L. Interests are taxable.</p> <p>&nbsp;</p> <p><b>Tax Saving Mutual Funds:</b></p> <p>ELSS, or Equity Linked Savings Scheme, is a type of mutual fund that can be used to save money for retirement, education, or any other long-term goal.</p> <p>&nbsp;</p> <p>Under Section 80C, these funds permit annual exemptions of up to Rs. 1 lakh. Through mutual funds, ELSS are standard tools for tax savings.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><b>What exactly is an income tax calculator?</b></p> <p>An&nbsp;<b>Income tax calculator</b>&nbsp;is a simple online tool that helps you estimate your tax liability according to the tax laws of the specific year. This tool only needs information like total yearly salary, rent paid, tuition fees, investments made, interest paid on loans, etc., and the calculators automatically assess your tax liability.</p> <p>&nbsp;</p> <p><b>How to make use of the income tax calculator?</b></p> <p>&nbsp;</p> <p>To calculate your taxes using an online income tax calculator, follow these steps:</p> <p>&nbsp;</p> <p>1. &nbsp;Input your assessment year.</p> <p>&nbsp;</p> <p>2. &nbsp;Select your tax-payer status (individual, HUF, LLP, businesses, etc.).</p> <p>&nbsp;</p> <p>3. &nbsp;Enter your annual salary and any bonuses or variable pay you received during that time period. If you have any exemptions or deductions to file under 80C, 80CCD, 80G, 80E, or 80TTA, enter them here as well.</p> <p>&nbsp;</p> <p>4. &nbsp;Select which income tax slab you belong to, old or new. Enter information regarding your investments under section 80C or other exemptions under sections 80CCD, 80G, and 80E.</p> <p>&nbsp;</p> <p>5. &nbsp;You will know the tax payable for the year.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><b>Points to keep in mind</b></p> <p>It's a great idea to save on taxes. But with so many options available, it can be hard to know which one is right for you.</p> <p>The Indian government offers&nbsp;<b>income tax saving schemes</b>&nbsp;as a way to incentivize investment in certain sectors of the economy.</p> <p><b>Final word</b></p> <p><b>Income tax saving schemes</b>&nbsp;are a safe option for your savings if you have no other investment avenues available or if you want to invest in something other than equity or debt.</p> http://www.theweek.in/news/biz-tech/2022/09/10/no-ca-needed-for-this-tax-saving-hack.html http://www.theweek.in/news/biz-tech/2022/09/10/no-ca-needed-for-this-tax-saving-hack.html Sat Sep 10 19:18:16 IST 2022 ev-manufacturers-expect-demand-to-grow-multi-fold <a href="http://www.theweek.in/news/biz-tech/2022/09/08/ev-manufacturers-expect-demand-to-grow-multi-fold.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/sci-tech/images/2018/2/18/ev-charging-new-reuters-image.jpg" /> <p>Electric vehicle manufacturers expect demand to grow multi-fold going ahead with increasing customers' awareness on eco-friendly mobility, backed by the government's support for EV adoption.</p> <p>&nbsp;</p> <p>Ahead of World EV Day, the manufacturers also stressed the need to offer better performing vehicles, designed and developed to meet specific customer requirements.</p> <p>&nbsp;</p> <p>&quot;India will see a huge demand for EVs going forward as customers are increasingly becoming aware of environmentally-friendly mobility solutions and the government is laying the foundation for EV adoption,&quot; Kia India Chief Sales Officer Myung-sik Sohn said in a statement.</p> <p>&nbsp;</p> <p>Ather Energy co-founder and CEO Tarun Mehta said the transition to sustainable modes of transportation has begun well, largely led by electric two-wheelers and EVs are the single biggest hope for achieving a decarbonised world and faster adoption of EVs is the first step towards this goal.</p> <p>&nbsp;</p> <p>&quot;The rising demand makes it quite clear that consumers are open to shift to EVs from ICE (internal combustion engine) vehicles and the industry needs to support this by offering better performing electric vehicles,&quot; Mehta asserted.</p> <p>&nbsp;</p> <p>Motovolt Founder &amp; CEO Tushar Choudhary said a lot of major cities across the world are discovering that one of the key components of sustainable mobility is the adoption of electric commuting by the masses.</p> <p>&nbsp;</p> <p>&quot;This is where it is critical to create a diversity of options that include large shared vehicles, such as trains and electric buses and cars and smaller vehicles, electric 2-wheelers, and e-bicycles,&quot; he added.</p> <p>&nbsp;</p> <p>Mahindra Electric Mobility Ltd CEO Suman Mishra said the company is committed to promoting sustainable motoring with zero-emission products.</p> <p>&nbsp;</p> <p>At present, it is estimated that EVs account for nearly 1 per cent of total vehicle sales in India and studies have projected that by 2030 it would increase to around 30 per cent. According to the Society of Indian Automobile Manufacturers, total vehicle sales in India in 2021-22 stood at 1,75,13,596 units, down from 1,86,20,233 units in 2020-21.</p> <p>&nbsp;</p> <p>Other players involved in the EV ecosystem, such as charging infrastructure and battery swapping service providers, are bullish on the shift towards electric mobility.</p> <p>&nbsp;</p> <p>Chargeup founder and Chief Driving Officer Varun Goenka said with the right initiatives like the battery safety guidelines that will come into effect from October and the highly anticipated draft Battery Swapping Policy will help get closer to an eco-friendly ecosystem for the future of mobility.</p> <p>&nbsp;</p> <p>&quot;There are certain technical and operational processes and challenges that need to be ironed out, but it is our firm belief that a lot of progress is being made in the right direction,&quot; he added.</p> <p>&nbsp;</p> <p>SKF Group (India &amp; South East Asia) Director Automotive Business Venkat S said rising fuel prices, surging ownership cost of ICE vehicles, and policies like the PLI and FAME have been instrumental in shaping the EV market in India.</p> <p>&nbsp;</p> <p>&quot;EV drivetrains today are placing new demand on components, such as bearings, and SKF is playing a transformational role in the industry,&quot; he added.</p> <p>&nbsp;</p> <p>Car rental and subscription platform Myles Car founder Sakshi Vij said offering EVs on a subscription model without a down payment and additional maintenance or insurance costs with no danger of residual value has helped in overcoming the hurdle of high upfront prices of EV acquisition.</p> <p>&nbsp;</p> <p>&quot;EVs account for 40 per cent of our subscription demand and 40 per cent of the vehicles in our fleet are electric vehicles, and we plan to increase this percentage,&quot; she added.&nbsp;&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/08/ev-manufacturers-expect-demand-to-grow-multi-fold.html http://www.theweek.in/news/biz-tech/2022/09/08/ev-manufacturers-expect-demand-to-grow-multi-fold.html Thu Sep 08 20:56:34 IST 2022 super-cryptos-to-invest-in-today--uniglo--glo---bitcoin-cash--bc <a href="http://www.theweek.in/news/biz-tech/2022/09/10/super-cryptos-to-invest-in-today--uniglo--glo---bitcoin-cash--bc.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/10/supercryptos.jpeg" /> <p>Bitcoin is playing the hide-and-seek game as we enter the Q4 of 2022, which has historically been bullish for the overall crypto market. The prices may be down right now, but it doesn’t scare away smart investors from taking a position. The continued fascination with crypto has to do with the past record of bitcoin and cryptocurrencies. Every time the market has defied the odds and come roaring back. There’s every reason to stay positive and invest in some super cryptos like Uniglo, Bitcoin Cash, and Filecoin.</p> <p><b>Uniglo (GLO)</b></p> <p>Uniglo is a unique solution that aims to protect investors' money from market volatility. There was a need for innovation in the idea of programmable money that existed ever since the inception of blockchain. Developers at Uniglo have created a mechanism where the value of the currency is backed by a pool of digital assets, NFTs, real-world collectibles, and other tangible assets. The inherent value of the token GLO is directly supported by the treasury vault. Furthermore, the ultra-burn mechanic ensures there’s a constantly reducing supply that keeps the price moving.</p> <p><b>Bitcoin Cash (BCH)</b></p> <p>Bitcoin Cash is another version of Bitcoin that came into existence as a result of the hard fork. In comparison to Bitcoin, it allows higher transactions per block by increasing the block size. The native token BCH is used as an exchange of value, which can be sent anywhere in the world. It offers higher privacy and anonymity than traditional systems like cash transfers and electronic payments. The team behind Bitcoin Cash is focused on constant innovation in a bid to become a reliable P2P electronic cash.</p> <p><b>Filecoin (FIL)</b></p> <p>Centralized cloud storage solutions are not only expensive, but they have complete control over your data. Filecoin was born as a viable alternative to offer storage services at the best deals. It is a decentralized storage network where anyone can park their files in someone else’s hard disk space. Incentives in the form of FIL tokens are given to those who offer their free space for storage. A concept like this is a step toward driving mass adoption of the world of Web 3.</p> <p><b>Find Out More Here</b></p> <p><b>Join Presale:</b><a href="https://presale.uniglo.io/register"></a><a href="https://presale.uniglo.io/register">&nbsp;<b><u>https://presale.uniglo.io/register</u></b></a></p> <p><b>Website:</b><a href="https://uniglo.io/"></a><a href="https://uniglo.io/">&nbsp;<b><u>https://uniglo.io</u></b></a></p> http://www.theweek.in/news/biz-tech/2022/09/10/super-cryptos-to-invest-in-today--uniglo--glo---bitcoin-cash--bc.html http://www.theweek.in/news/biz-tech/2022/09/10/super-cryptos-to-invest-in-today--uniglo--glo---bitcoin-cash--bc.html Sat Sep 10 19:18:23 IST 2022 are-airbnbs-more-cost-effective-than-hotels- <a href="http://www.theweek.in/news/biz-tech/2022/09/08/are-airbnbs-more-cost-effective-than-hotels-.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/india/2021/April/Airbnb-office-headquarters-in-the-SOMA-district-of-San-Francisco-reu.jpg" /> <p>Remember the days when one of the best money-saving travel tips was booking an Airbnb versus a hotel? Not only were nightly rates almost always far cheaper, but the Airbnbs and hosts themselves often shaped up to be the most memorable aspects of a trip.</p> <p>&nbsp;</p> <p>These days, staying at an Airbnb rarely involves big savings or friendships with the hosts. For better or for worse, features like self-check-in make it so hosts and guests never even meet. Meanwhile, many listings are not managed by owners, but by corporate property management behemoths - without the convenience of on-site, full-time staff.</p> <p>&nbsp;</p> <p>And the cost? A June 2022 NerdWallet analysis looked at 1,000 US Airbnb reservations for 2022 or 2023. Although there's no way to compare the costs directly since every Airbnb is different, some key indicators provide clues as to when Airbnbs are better or worse than a hotel.</p> <p>&nbsp;</p> <p>In some cases, Airbnb rentals are still a good deal compared to hotels. Other times, they're far from it.</p> <p>&nbsp;</p> <p><b>LENGTH OF TRIP</b></p> <p>&nbsp;</p> <p>For short stays, Airbnbs are rarely a good deal for two reasons: discounts and cleaning fees.</p> <p>&nbsp;</p> <p>Savings get bigger with trip length: The nightly rate for the average seven-night Airbnb stay was 32% cheaper than a one-night stay, according to NerdWallet's analysis.</p> <p>&nbsp;</p> <p>- One-night stay: $314 median nightly price.</p> <p>&nbsp;</p> <p>- Seven-night stay: $213 median nightly price (32% cheaper per night versus staying one night).</p> <p>&nbsp;</p> <p>Why are longer stays cheaper? One reason is multiday discounts. Hosts offer these incentives because they'd prefer having fewer bookings to manage and ensure occupancy.</p> <p>&nbsp;</p> <p>Another reason is cleaning fees. While not all listings have them, the median cleaning fee is $75, according to NerdWallet's analysis. Since it's a one-time fee, the cost is reduced by longer stays. A $75 cleaning fee stings more on a one-night stay versus a three-week stay, where it would amount to only about $3.50 per day. Since hotels typically don't have cleaning fees, travelers staying a night or two might be better off with a hotel if Airbnb cleaning fees are steep.</p> <p>&nbsp;</p> <p><b>SIZE OF GROUP</b></p> <p>&nbsp;</p> <p>For solo travelers and couples, Airbnbs are typically more expensive (though NerdWallet's study only looked at entire place properties, so people sharing a room or home might still save).</p> <p>&nbsp;</p> <p>NerdWallet compared the price per head for Airbnbs with a max capacity of two adults against a hotel room in the same city. It also compared the cost of an Airbnb with a max capacity of six people against the cost to book three hotel rooms (assuming two adults per room).</p> <p>&nbsp;</p> <p>The average Airbnb for six was 33% cheaper than booking three hotel rooms. But the average hotel was 29% cheaper than booking an Airbnb for two.</p> <p>&nbsp;</p> <p>Here's how median costs broke down, per person:</p> <p>&nbsp;</p> <p>- Small Airbnb (fits two adults): $125.</p> <p>&nbsp;</p> <p>- Large Airbnb (fits six adults): $60.</p> <p>&nbsp;</p> <p>- Hotel room (fits two adults): $89.</p> <p>&nbsp;</p> <p><b>OTHER FACTORS TO CONSIDER</b></p> <p>&nbsp;</p> <p>Of course, every traveler's situation is unique, and other costs go into a trip beyond just sticker price. Ask yourself about:</p> <p>&nbsp;</p> <p>TRANSPORTATION: Does the hotel charge for parking? Is there a free airport shuttle? Is the hotel downtown and walkable, whereas your Airbnb might necessitate a rental car?</p> <p>&nbsp;</p> <p>STAFF AVAILABILITY: For Airbnbs, you might never meet the host or interact with any sort of staff. If you prefer to speak to a human (or simply need personal assistance for anything from getting directions to helping clean a mess), a hotel might have better offerings.</p> <p>&nbsp;</p> <p>Then again, even hotels are still understaffed. The American Hotel &amp; Lodging Association forecasts that hotels will end 2022 with 1.97 million employees, which is 84% of pre-pandemic levels, and a May 2022 AHLA survey found that 97% of hotels indicate that they are experiencing a staffing shortage.</p> <p>&nbsp;</p> <p>FOOD: Can you skip restaurants by cooking in the Airbnb kitchen? Is the free hotel breakfast more convenient?</p> <p>&nbsp;</p> <p>OTHER AMENITIES: Does your Airbnb include laundry? Are daily activities included with your hotel, making it so you can skip paying for other entertainment if you'll spend all day at the pool?</p> <p>&nbsp;</p> <p>For remote workers, what about office space? A Deloitte spring 2022 survey of 4,200 Americans asked what factors go into their lodging decisions. Space to work saw a 19% increase in 2022 versus 2021 - and an Airbnb with a separate office or backyard might be a more enjoyable workspace than being cooped up in a small hotel room.</p> <p>&nbsp;</p> <p>ADDITIONAL FEES AND WAYS TO PAY: Will you owe resort fees? Airbnb doesn't have a loyalty program, but can you stay at the hotel for free on points?</p> <p>&nbsp;</p> <p>Given the variability, it's impossible to proclaim that Airbnbs are better or worse than hotels. And given ongoing reduction in hotel services like housekeeping and room service, the sometimes lackluster feeling that increasingly surrounds Airbnb is a tough comparison to make as hotel services disappear, too.</p> <p>&nbsp;</p> <p>But if you're booking travel in 2022 under the assumption that Airbnbs are always the best deal, reconsider your strategy.&nbsp;</p> <p>&nbsp;</p> <p>(AP)</p> http://www.theweek.in/news/biz-tech/2022/09/08/are-airbnbs-more-cost-effective-than-hotels-.html http://www.theweek.in/news/biz-tech/2022/09/08/are-airbnbs-more-cost-effective-than-hotels-.html Thu Sep 08 17:07:33 IST 2022 expensive-contracts-and-unreliable-connections-blockchain-offers-a-solution-for-telecommunications-flaws <a href="http://www.theweek.in/news/biz-tech/2022/09/12/expensive-contracts-and-unreliable-connections-blockchain-offers-a-solution-for-telecommunications-flaws.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/12/Blockchain.jpg" /> <p>In 2021,&nbsp;<a href="https://www.un.org/press/en/2021/dsgsm1579.doc.htm"></a><a href="https://www.un.org/press/en/2021/dsgsm1579.doc.htm"><u>a report</u></a>&nbsp;from the United Nations found that nearly half of the world's population is still not connected to the internet. The pandemic only highlighted this staggering digital disparity, where those without internet access could not benefit from remote working or health services.</p> <p>&nbsp;</p> <p>Although the technology to provide efficient mobile broadband using 3G has been available for over twenty years, it is still not fully accessible or implemented worldwide. Without action and significant development in connectivity, this lack of access to essential online services will continue to plague nations across the globe.</p> <p>&nbsp;</p> <p><b>The Cycle of Inefficiencies</b></p> <p>&nbsp;</p> <p>Even the most prominent tech players can’t figure out a solution, including Alphabet, which&nbsp;<a href="https://techcrunch.com/2021/01/22/daily-crunch-alphabet-shuts-down-loon/#:~:text=The%20big%20story%3A%20Alphabet%20shuts,a%20separate%20company%20in%202018."></a><a href="https://techcrunch.com/2021/01/22/daily-crunch-alphabet-shuts-down-loon/#:~:text=The%20big%20story%3A%20Alphabet%20shuts,a%20separate%20company%20in%202018."><u>shut down</u></a>&nbsp;its Loon project that aimed to use balloons to bring high-speed internet to more remote parts of the world. Despite a few successful deployments, the project could not find a sustainable business model.</p> <p>&nbsp;</p> <p>“While we’ve found a number of willing partners along the way, we haven’t found a way to get the costs low enough to build a long-term, sustainable business,” Loon CEO Alastair Westgarth wrote in a&nbsp;<a href="https://blog.x.company/loon-draft-c3fcebc11f3f"></a><a href="https://blog.x.company/loon-draft-c3fcebc11f3f"><u>blog post</u></a>&nbsp;.</p> <p>&nbsp;</p> <p>The telecommunication industry is lagging behind on connectivity, with problems ranging from outdated technology to expensive contracts. These problems are amplified in remote regions, with a 2021&nbsp;<a href="https://africa.businessinsider.com/local/markets/mobile-data-in-sub-saharan-africa-is-the-most-expensive-in-the-world-report/2dlnnh8"></a><a href="https://africa.businessinsider.com/local/markets/mobile-data-in-sub-saharan-africa-is-the-most-expensive-in-the-world-report/2dlnnh8"><u>report from Cable.co.uk finding</u></a>&nbsp;that Sub-Saharan Africa has six out of the ten most expensive countries in the world for 1GB of mobile data.</p> <p>&nbsp;</p> <p>Further, mobile broadband adoption is still facing accessibility hurdles. In a&nbsp;<a href="https://www.gsma.com/r/wp-content/uploads/2021/09/The-State-of-Mobile-Internet-Connectivity-Report-2021.pdf"></a><a href="https://www.gsma.com/r/wp-content/uploads/2021/09/The-State-of-Mobile-Internet-Connectivity-Report-2021.pdf"><u>2021 report</u></a>&nbsp;on the State of Mobile Internet Connectivity, the number of people using mobile internet reached 4 billion —only 51% of the world’s population - despite many more technically receiving coverage. In Sub-Saharan Africa, the report states that only 28% of people use mobile internet and 19% receive no coverage at all.</p> <p>&nbsp;</p> <p><b>Why aren’t traditional telecom companies doing better?</b></p> <p>&nbsp;</p> <p>The answer is quite simple - it’s just too expensive, and it takes an average of&nbsp;<a href="https://www.weforum.org/whitepapers/financing-a-forward-looking-internet-for-all"></a><a href="https://www.weforum.org/whitepapers/financing-a-forward-looking-internet-for-all"><u>two years</u></a>&nbsp;to see any return on investment.</p> <p>&nbsp;</p> <p>In traditional networks, phone towers connect to the operator’s core network via in-ground fibre cables or microwave transmission from tower to tower. There are always two control towers in case one shuts down, so the network doesn’t face any disruption.</p> <p>&nbsp;</p> <p>However, this means connecting a large number of towers to this core network turns out to be extremely expensive and prohibits expansion.</p> <p>&nbsp;</p> <p><b>The Solution</b></p> <p><a href="https://worldmobile.io/">&nbsp;</a></p> <p><a href="https://worldmobile.io/"><u>World Mobile</u></a>&nbsp;’s technology offers a solution to the current telecommunications industry’s problems - a hybrid mesh network using balloons. What sets them apart from the previous balloon networks is that they operate at a lower altitude and are far more cost-effective. World Mobile’s aerostats are a proven solution that have been used for many years in emergency and military deployments. The network has also engineered a sharing economy that enables decentralised ownership.</p> <p>&nbsp;</p> <p>The growth of the network is driven by community involvement, where local communities can also invest in becoming node operators and earn a share of the revenue.</p> <p>&nbsp;</p> <p>The platform’s sharing economy model aims to deliver network infrastructure that will improve network design and operational efficiencies and provide a more fluid delivery of connectivity to network users. The network uses blockchain technology to track the network usage of each user and calculate the earnings of the node operators, finally resulting in the reduction of operational and maintenance costs of the network, which ultimately means connecting people to the internet more affordably.</p> <p>&nbsp;</p> <p>In addition to connectivity issues, expensive contracts, and poor coverage, the current telecommunication industry lacks transparency and trust. However, for the first time in history, users now have a gateway to the next generation of mobile connectivity in the palm of their hand.</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/12/expensive-contracts-and-unreliable-connections-blockchain-offers-a-solution-for-telecommunications-flaws.html http://www.theweek.in/news/biz-tech/2022/09/12/expensive-contracts-and-unreliable-connections-blockchain-offers-a-solution-for-telecommunications-flaws.html Mon Sep 12 15:27:54 IST 2022 marvans-mobile--an-online-store-created-by-wahid-badami-to-deliv <a href="http://www.theweek.in/news/biz-tech/2022/09/10/marvans-mobile--an-online-store-created-by-wahid-badami-to-deliv.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/10/marvans.jpeg" /> <p>A true entrepreneur not only takes ownership of growth but also can foresee the future and act accordingly. Both the traits&nbsp; have been unquestionably displayed by Wahid Badami, owner of Marvans Mobile. Due to his strategies the Gujrat based company now has a client base spread all over India. Wahid was aware of the Internet revolution in India and what role social media can play in bringing a renaissance in shifting dynamics of Indian businesses. This led&nbsp;<u>Marvans</u>&nbsp;to launch an online store.</p> <p>&nbsp;</p> <p>The Vadodara based company; Marvans has seen unprecedented success under the leadership of Wahid. He deals with Apple products of which he himself is an avid follower and makes those products available for customers across the country at reachable prices.</p> <p>&nbsp;</p> <p>The Marvans journey began about 10 years back when Wahid, a young lad , was seeking to start his entrepreneurial adventure. He was a big supporter of Apple, the company, and its products but noticed that most Apple products were not affordable for a larger section of Indian consumers and he decided to work on the accessibility and affordability of those products. Hence Marvans Mobile was born.&nbsp;</p> <p>&nbsp;</p> <p>The key driver behind the growth of Marvans has been the power of technology and social media. He himself was the victim of Cyber assault once but his never-say-die attitude allowed him to bounce back strongly and now Marvans Mobile has 302K plus followers on social media.&nbsp; They run a social media campaign under the hashtag “Marvans hai toh mumkin hai” where engaging fresh contents are posted to persuade and attract the customers. They are the sole users of Snapchat’s AD network among the Vadodara Mobile retailers.&nbsp;</p> <p>&nbsp;</p> <p>Wahid says, “ It is crucial to know your target.” when answering questions related to how online marketing can boost businesses. The next vital thing is to put the ideal teams together for content creation and marketing activities. The goal should be to follow the current trend and come up with engaging contents.</p> <p>&nbsp;</p> <p>Marvans Have done a lot of experimentation and risk taking in facilitating the kind growth they enjoy now and they believe that customer satisfaction should be the ultimate goal for all entrepreneurs.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/10/marvans-mobile--an-online-store-created-by-wahid-badami-to-deliv.html http://www.theweek.in/news/biz-tech/2022/09/10/marvans-mobile--an-online-store-created-by-wahid-badami-to-deliv.html Sat Sep 10 19:18:32 IST 2022 poor-mental-health-of-employees-costs-indian-employers--14-bn-ye <a href="http://www.theweek.in/news/biz-tech/2022/09/08/poor-mental-health-of-employees-costs-indian-employers--14-bn-ye.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biztech/2019/May/woman-stressful-depressed-anxiety-disorder-mental-health-illness-headache-migraine-sitting-on-laptop-computer-desk-shut.jpg" /> <p>Poor mental health amongst employees costs Indian employers around USD 14 billion annually in absenteeism, lower productivity and attrition, according to Deloitte's Mental Health Survey.</p> <p>&nbsp;</p> <p>Over the years, mental health issues have seen a steady rise globally, accentuated further by the onset of COVID-19.</p> <p>&nbsp;</p> <p>According to World Health Organisation (WHO), India accounts for nearly 15 per cent of the global mental health burden.</p> <p>&nbsp;</p> <p>To analyse the current state of mental well-being amongst Indian employees, Deloitte Touche Tohmatsu India LLP (DTTILLP) undertook a survey titled 'Mental health and well-being in the workplace', it said in a statement.</p> <p>&nbsp;</p> <p>The survey dives into the top stressors from an employee's perspective, along with an estimate of the yearly economic cost to Indian companies arising from poor employee mental health.</p> <p>&nbsp;</p> <p>Around 47 per cent of professionals surveyed consider workplace-related stress as the biggest factor affecting their mental health, followed by financial and COVID-19 challenges.</p> <p>&nbsp;</p> <p>&quot;These stressors manifest in multiple ways, affecting both the personal and professional facets of an individual's life; often with associated social and economic costs,&quot; it said.</p> <p>&nbsp;</p> <p>The report estimates that &quot;poor mental health amongst employees costs Indian employers around USD 14 billion per year due to absenteeism, presenteeism, and attrition&quot;.</p> <p>&nbsp;</p> <p>Presenteeism is the phenomenon of attending to work while under mental stress and hence, performing at low productivity.</p> <p>&nbsp;</p> <p>&quot;These costs build up over time and are incurred when poor mental health impacts how individuals deal with day-to-day stressors and are unable to thrive in their work environment,&quot; the statement said.</p> <p>&nbsp;</p> <p>According to the survey, 80 per cent of the Indian workforce has reported mental health issues during the past one year.</p> <p>&nbsp;</p> <p>Despite these alarming numbers, societal stigma prevents around 39 per cent of the affected respondents from taking steps to manage their symptoms.</p> <p>&nbsp;</p> <p>Additionally, the survey found that at the workplace, 33 per cent of all respondents continued to work, despite poor mental health, while 29 per cent took time off and 20 per cent resigned to better manage their mental health.</p> <p>&nbsp;</p> <p>Commenting on the findings of the study, Punit Renjen, Deloitte Global CEO, said, &quot;Mental health has been a real issue. The challenges of the past two-plus years have brought conversations about mental health at work to the forefront&quot;.</p> <p>&nbsp;</p> <p>The study, he said, demonstrates that businesses must prioritise the mental health and well-being of their people.</p> <p>&nbsp;</p> <p>&quot;It is essential that senior leaders play a major role in destigmatising mental health challenges within their organisations. We need to take the necessary steps to create an environment where employees' well-being is prioritised, and they have access to the support they need so that everyone can thrive,&quot; he said.</p> <p>&nbsp;</p> <p>Adds Charu Sehgal, Partner and Life Sciences and Health Care Leader, DTTILLP, that &quot;mental health-related challenges are not new to the Indian workforce, but these have come to the forefront in light of COVID-19, and a younger workforce that is open to speaking about their individual well-being&quot;.</p> <p>&nbsp;</p> <p>Not only is the number of impacted employees large, but the degree of the challenge is also high, accentuated by performance-oriented cultures anchored in long and demanding work schedules, economic uncertainty, and peer comparison (especially on social media platforms), she said.</p> <p>&nbsp;</p> <p>She further added that while most Indian corporates have recognised the importance of employee well-being, the share of mental health measures at the workplace is still limited, with a few sporadic events and the use of third-party employee assistance programmes.</p> <p>&nbsp;</p> <p>With the generational shift that we are witnessing in our workforce, employers have the opportunity to hit reset and fundamentally re-evaluate the ways of working to address root causes and drive greater inclusion and well-being through enabling talent policies.</p> <p>&nbsp;</p> <p>&quot;Raising awareness and destigmatising challenges pertaining to mental health can help employees access assistance early. As responsible corporate citizens, the onus is on India Inc. to act and establish a framework to manage psychological health and well-being in the workplace and create a culture of trust to ensure long-term benefits for employees as well as the organisation,&quot; she added.&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/08/poor-mental-health-of-employees-costs-indian-employers--14-bn-ye.html http://www.theweek.in/news/biz-tech/2022/09/08/poor-mental-health-of-employees-costs-indian-employers--14-bn-ye.html Thu Sep 08 17:09:35 IST 2022 staple-categories-see-regular-price-hikes-in-august <a href="http://www.theweek.in/news/biz-tech/2022/09/07/staple-categories-see-regular-price-hikes-in-august.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/india/2020/March/Man-shopping-cart-near-empty-shelves-supermarket-mumbai-covid-19-pti.jpg" /> <p>There has been incessant price hikes across staple categories (a set of essential products used by consumers) with most of the segments witnessing increase in prices. Nonetheless, a few categories also saw price corrections and single digit price rise in August 2022.</p> <p>As per the latest report by Kotak Institutional Equities, many product launches, relaunches and product strategies were also seen across categories during the period. Home and personal care categories saw price rises while there was a decline in the edible oils in the food and beverage category and some price correction in the agriculture category.</p> <p>As per the report, home and personal care category witnessed some stability over the past two months. Companies such as Godrej Consumer Product Limited, Wipro and Patanjali took price increases in select SKUs (stock keeping units) in the range of 4-6 per cent. Detergents witnessed another round of single-digit price increase across brands. Hindustan Unilever raised prices of select SKUs of Rin bars and Wheel detergent by 5-8 per cent. In toothpastes, Colgate raised prices of select SKU of Colgate Herbal by 23 per cent while Hindustan Unilever made a 3-6 per cent increases across its brands. Both Dabur (Meswak) and Patanjali (Dant Kanti) made hikes by 4 per cent and 11 per cent respectively, reducing the pricing gap between both brands. In shampoos, Patanjali took an 18 per cent price cut even as both P&amp;G and Hindustan Unilever further increased prices of Head &amp; Shoulders and Tresemme shampoo by nine and six per cent respectively. At the same time, price hikes were also seen in face creams, body lotions and perfumed hair oils.</p> <p>During the same period, in the food and beverage category there were price cuts in edible oils across companies in line with sharp fall in palm oil prices. Saffola oil prices reduced in the range of 11-16 per cent while Sundrop Nutrilite price increased by 30 per cent. Nestle increased prices of Nescafe-Sunrise coffee by three-six per cent. Nestle also raised the price of its milkmaid brand and Everyday milk powder by four-five per cent. In biscuits, Parle took hikes in range of 10-20 per cent in Bourbon, Krackjack and Monaco while Britannia increased prices of 50-50 and Nice by 12 to 5 per cent respectively. Similarly ITC increased the price of select SKU of Sunfeast Marie Light by seven per cent and Mom’s Magic cookie butter by 25 percent. At the same time Hindustan Unilever raised prices of select SKUs of Knorr soups by four-five per cent by way of grammage cuts.</p> <p>In the soft drinks category, Pepsi increased the price of its 2.25 L SKU by four per cent. There was also selective price hikes in juices, cereals, atta, ketchup and noodles. It was observed that year on year inflation has been still high. Tea prices in India corrected four per cent month on month after rallying in Jun and July 2022 on account of Assam floods. Wheat and barley prices declined four to two per cent month on month but remained elevated yoy.</p> <p>Liquid milk prices also rose four per cent month on month while milk powder rallied. It is expected that an increase in milk powder prices can impact Nestle and Britannia and elevated wheat prices can hurt ITC and Britannia. There were also new launches and re launches during the period. For instance, Tata Consumer Products has forayed into the premium honey and preserves category under its Himalayan brand. The new product range will be available pan-India in premium outlets. Similarly Hindustan Unilever has launched Tresemme Pro range of shampoo, conditioner, serum and masks while its Indulekha brand has expanded its portfolio with the launch of hair serums and masks. Britannia has launched the new Treat Croissant and has also launched Treat Cheese Wafers, Gobbles marble cake and new Rs5 variants of its cup cake. Nestle has announced plans to introduce its toddler nutrition brand ‘Gerber’ in India, targeting mothers who are young achievers and looking for the best nutrition for their children. Gerber is likely to be priced at 7 times the price of Maggi for the same grammage. Reckitt Benckiser also launched Drain Xpert, solution that clears clogs in 30 minutes.</p> <p><br> <br> </p> http://www.theweek.in/news/biz-tech/2022/09/07/staple-categories-see-regular-price-hikes-in-august.html http://www.theweek.in/news/biz-tech/2022/09/07/staple-categories-see-regular-price-hikes-in-august.html Wed Sep 07 20:38:31 IST 2022 things-may-just-be-looking-up-indian-auto-industry-here-why <a href="http://www.theweek.in/news/biz-tech/2022/09/09/things-may-just-be-looking-up-indian-auto-industry-here-why.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2019/8/7/car-new-vehicles-car-parked-automobile-afp.jpg" /> <p>Veering into the festive season, India's auto industry can take solace from the spike in sales figures of August. The distinct move upward is all the more comforting considering the supply side challenges, the rise in CNG prices and the fact that the August monsoon period is generally considered an off-peak period.<br> </p> <p>A total of 1.33 lakh cars and 15.5 lakh two-wheelers were sold last month, compared to just over one lakh cars and 13.3 lakh two-wheelers in the corresponding month last year. If you add utility vehicles (a booming segment in recent years) as well as vans along with cars, the total passenger vehicle sales in August was a decent 2.8 lakh, a good half a lakh more than August 2021.</p> <p>Buffeted by a slowing in economic growth which led to falling sales since 2018, closely followed by the introduction of BS 6, the multiple waves of the Covid-19 pandemic and the ensuing global supply chain mishmash, the auto industry has had to struggle to maintain its bottomline in the past few years. Add to that the looming threat of new technologies like electric vehicles to turn the internal combustion engine (ICE) obsolete.</p> <p>While the boom-time figures of last decade are yet to be breached, the August sales figures sure augur well for the troubled industry, as the festive season has just about kick-started, with hopefully a few months of great sales on the anvil.</p> <p>Rajesh Menon, director-general of the industry body SIAM expressed this confidence when he said “good monsoon and the upcoming festive season is likely to increase demand.” This, even as the industry is still to see the back of the shortage in components and raw materials plaguing it since last year. The hike in CNG prices is also a worrying factor.</p> <p>The total automobile sales in August 2022 was 18.77 lakh vehicles, up from 15.94 lakh in August last year.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/09/things-may-just-be-looking-up-indian-auto-industry-here-why.html http://www.theweek.in/news/biz-tech/2022/09/09/things-may-just-be-looking-up-indian-auto-industry-here-why.html Fri Sep 09 13:35:49 IST 2022 india-needs-to-train-10-lakh-people-in-air-quality-management--r <a href="http://www.theweek.in/news/biz-tech/2022/09/07/india-needs-to-train-10-lakh-people-in-air-quality-management--r.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2022/4/3/pollution-delhi-poor-air-quality-shut.jpg" /> <p>India needs to train at least 10 lakh people in the next five years for air quality management, according to a new report, which also says around 50,000 jobs could be created in the sector.</p> <p>&nbsp;</p> <p>The report has been prepared by the International Forum for Environment, Sustainability &amp; Technology (iForest) with the support of the World Bank Group.</p> <p>&nbsp;</p> <p>It highlights the need of a national-level programme to develop the capacity of all stakeholders cities, state and central government agencies, private sector, NGOs and media -- to effectively tackle the problem of air pollution.</p> <p>&nbsp;</p> <p>&quot;Our report shows that we need to train at least 1 million (10 lakh) people over the next five years for air quality management. This will also create tens of thousands of new jobs in the public and private sector to plan, monitor, mitigate, and control air pollutants,&quot; said Chandra Bhushan, the CEO of iFOREST and the lead author of the report.</p> <p>&nbsp;</p> <p>He said the report is the first attempt of its kind to map the environmental sector in the country.</p> <p>&nbsp;</p> <p>The agencies, organisations and industries working in the air quality management sector include ministries and departments of the government, state pollution control boards, urban local bodies, air polluting industries, and air pollution control industries. The report said there are at least 2.8 lakh organisations and industries across the country which require personnel for air quality management.</p> <p>&nbsp;</p> <p>It has identified 42 specific job roles that is required to control air pollution in the country -- from municipal workers involved in dust control and construction and demolition waste management to specialists in transport planning, air quality modelling and forecasting.</p> <p>&nbsp;</p> <p>The report says a total of 2.2 million jobs are required to manage air pollution in the country. A large number these jobs, about 1.6 million, already exit.</p> <p>&nbsp;</p> <p>However, many of them have never been trained to manage air quality, such as the municipal workers and PUC (pollution under check) operators, who can be at the frontline, it says.</p> <p>&nbsp;</p> <p>There is a need to employ thousands of people to meet the requirements of growing number of industries, ULBs, consultancy and government, it said.</p> <p>&nbsp;</p> <p>The report estimates that air quality management sector requires at least 50,000 new jobs, ranging from researchers and analysts to air quality supervisors in ULBs (Urban Local Bodies) and regulators in pollution control boards.</p> <p>&nbsp;</p> <p>The report found there is no structured capacity building programme in the air quality management sector and recommended a national programme to train about a million workers, operators and professionals over the next five years.</p> <p>&nbsp;</p> <p>&quot;A major challenge in the air quality management sector in India is that the people presently working in the sector have not been trained and a large number of jobs that are required do not exist,&quot; said Chandra Bhushan.</p> <p>&nbsp;</p> <p>&quot;Air pollution is an environmental issue, but we must also see its management as an opportunity to create new jobs and build a green economy. While a lot of the existing jobs lead to the destruction of the environment, we now have to start creating jobs to protect the environment. Our report shows the vast opportunity that exists in developing the environment sector as a vibrant economic sector,&quot; he stressed.</p> http://www.theweek.in/news/biz-tech/2022/09/07/india-needs-to-train-10-lakh-people-in-air-quality-management--r.html http://www.theweek.in/news/biz-tech/2022/09/07/india-needs-to-train-10-lakh-people-in-air-quality-management--r.html Wed Sep 07 12:51:13 IST 2022 inflation-has-eased-to-manageable-level--job-creation--growth-re <a href="http://www.theweek.in/news/biz-tech/2022/09/07/inflation-has-eased-to-manageable-level--job-creation--growth-re.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/images/2022/4/3/Economy-India-rupee-oil-inflation-price-rise-shut.jpg" /> <p>Finance Minister Nirmala Sitharaman on Wednesday said the country's economic growth remains a priority for the government, as inflation has come down to a manageable level.</p> <p>&nbsp;</p> <p>Job creation and equitable distribution of wealth remain the other focus areas, she said at India Ideas Summit in New Delhi.</p> <p>&nbsp;</p> <p>&quot;Some of course are red-lettered (priorities), some may not be. Red-lettered ones would of course be jobs, equitable wealth distribution and making sure India is moving on the path of growth.</p> <p>&nbsp;</p> <p>&quot;In that sense inflation is not red-lettered. I hope it doesn't surprise many of you. We have shown that in the past couple of months that we were able to bring it to a manageable level,&quot; she said at the event.</p> <p>&nbsp;</p> <p>According to official data, retail inflation softened to 6.71 per cent in July due to moderation in food prices but remained above the Reserve Bank's comfort level of 6 per cent for the seventh consecutive month.</p> <p>&nbsp;</p> <p>The Consumer Price Index (CPI) based retail inflation was at 7.01 per cent in June and 5.59 per cent in July 2021. It was above 7 per cent from April to June this fiscal.</p> <p>&nbsp;</p> <p>She exuded confidence that the Reserve Bank would manage the volatility emerging from aggressive rate hike stance by the US Fed and the European Central Bank.</p> <p>&nbsp;</p> <p>Talking about fiscal management during the COVID-19 period, she said, India with a targeted fiscal policy managed through a challenging time without printing money.</p> <p>&nbsp;</p> <p>Referring to the global energy crisis triggered by the ongoing Russia-Ukraine war, she said, uncertainty over availability of crude, natural gas continues.</p> <p>&nbsp;</p> <p>She also urged for deepening of ties between India and the US in all respects including on payment technology.&nbsp;</p> <p>&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/07/inflation-has-eased-to-manageable-level--job-creation--growth-re.html http://www.theweek.in/news/biz-tech/2022/09/07/inflation-has-eased-to-manageable-level--job-creation--growth-re.html Wed Sep 07 12:42:00 IST 2022 did-you-miss-out-on-top-coins-that-did-100x--here-s-another-chan <a href="http://www.theweek.in/news/biz-tech/2022/09/09/did-you-miss-out-on-top-coins-that-did-100x--here-s-another-chan.html"><img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="http://img.theweek.in/content/dam/week/news/biz-tech/images/2022/9/9/bigeyes.jpeg" /> <p>There is an impressive new coin on the crypto market that has been causing quite a stir lately. As cryptocurrency prepares to take full advantage of the reappearance of a bull market, many coins are vying for the top spot, trying to prove that they are worthy options to stake income and assets on.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>However, there’s a shiny recent addition to the game that’s packed with the potential to be the next hit money maker. Big Eyes is a little brave kitty in a dog’s world, full of big dreams and ready to meet the financial needs of those who seek it out. To know more about this cute thing, continue reading.</p> <p>&nbsp;</p> <p>What precisely is Big Eyes?</p> <p>&nbsp;</p> <p>Big Eyes is a meme coin unlike any other, taking its steps into a saturated market to pave its way to greatness. Big Eyes boasts about being community-run, with plans to configure wealth into the DeFi ecosystem, while also giving support to saving the oceans of the world. Big Eyes aims to do more for the cryptocurrency market, aside from its commitments to its charities and community, planning to develop a blockchain ecosystem capable of supplying hypergrowth independently. The goal is to achieve this through the use of NFTs to provide access to more content and events, proving that the blockchain hype-ship is worth all the buzz surrounding it.</p> <p>&nbsp;</p> <p>Big Eyes is a platform that is selling an asset that’s so priceless and special, that everyone deserves to have it, and that asset is – cute. The coin intends to obtain global domination through the influencer economy, which is ideal considering its mascot is more than equipped to be claimed by famous influencers and stars across the globe. Big Eyes intends to emerge at the end of 2022 as the most discussed coin, remaining at the focus of the world for years to come through the adaptation of innovations and new technology.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>Big Eyes wants to be a platform that changes the entire view of cryptocurrency, while simultaneously advocating for concern over the environment. The coin has plans to donate to charities connected to ocean sanctuaries and these sanctuaries are committed to the care and defense of water-based ecosystems. Their jobs revolve around the supply of sufficient care for fish, dampening the effects of harmful activities that might threaten their homes such as; oil spills, natural disasters, industrial fishing, pollution, and more, giving the fish a fighting chance to live healthier and longer lives.</p> <p>&nbsp;</p> <p>Big Eyes hopes that if enough – if not all – oceans are taken care of like this, the effect of climate change on the planet will begin to fade, making the world healthier. The platform has been carefully developed in such a way that all elements serve the goals of raising the popularity of the coin and providing wealth to the community, while the charities do something different; increasing the platform’s fame and the health of the world.</p> <p>&nbsp;</p> <p>What does Big Eyes have in store for its users?</p> <p>&nbsp;</p> <p>Big Eyes intends to remain responsible for its kitty cuddlers (users) for as long as it can, determined to change lives for the better. Users of Big Eyes Coin will get to experience shopping privileges like no other, enjoying tax-free perks like no other, along with a dynamic tax system that allows changes to be accompanied by fees for LP Acquisition, Auto Burn functions, and the Marketing wallet.</p> <p>&nbsp;</p> <p>A part of Big Eyes’ dreams is to hold an NFT collection that will make its debut in the top ten, generating value for its token and joy for its community. Users will be given a chance to hold some of these NFTs and holders will gain access to exclusive events and content offered by Big Eyes. Additionally, profits gained from NFT events will be allocated into a burn or not to burn vote.</p> <p>&nbsp;</p> <p>Big Eyes kept its word of letting the community own the platform and made 90% of its tokens available at launch. Its native token $BIG can be bought at its live presale on the coin’s official website, where 70% was given for the pre-sale. The remaining 20% will be used during exchanges and 5% will go to a marketing wallet to spread its cuteness worldwide. Another 5% will be retained in a charity wallet dedicated to the rescue of the ocean.</p> <p>&nbsp;</p> <p>Big Eyes plans to launch its merch store soon in a bid to physically and digitally expand its token and raise funds for the oceans and project, featuring a lot of adorable products centered around the lovable cat.</p> <p>&nbsp;</p> <p>Big Eyes users will be granted additional access to DeFi as the platform intends to introduce several features including; tutorials, back-end systems, how-tos, and Big Eyes Swap, which will hopefully simplify the process as much as possible. The community is urged to prepare to see a lot of action and activity, which is set from its pre-sale onward, as the platform intends to ensure that continuous and steady rise is all that is witnessed by its users.</p> <p>&nbsp;</p> <p>Users will also be frequently rewarded in the form of NFTs and tokens to promote engagement and growth.</p> <p>&nbsp;</p> <p>What are Big Eyes' plans for the future?</p> <p>&nbsp;</p> <p>Big Eyes intends to generate hype based on evidence, putting its best paws forward to provide real use cases. The platform values activity and is set to be consistently on the lookout for growth and innovative development. Big Eyes wants to be in the center of amusement, involved in every process relentlessly as it creates a sociable space for its community. Big Eyes does not merely have a road map detailing its agendas, but a plan of action highlighting its steps to greatness.</p> <p>&nbsp;</p> <p>Stage One: Crouch</p> <p>&nbsp;</p> <p>· &nbsp;Audit of token x3</p> <p>· &nbsp;Pre-sale website live</p> <p>· &nbsp;Media stunt live</p> <p>· &nbsp;Pre-sale live</p> <p>· &nbsp;PR machine live</p> <p>· &nbsp;Social channels live</p> <p>· &nbsp;15,000 telegram members</p> <p>&nbsp;</p> <p>Stage Two: Leap</p> <p>· &nbsp;Launch of Uniswap</p> <p>· &nbsp;Full website live</p> <p>· &nbsp;25,000 Telegram members</p> <p>· &nbsp;20,000 holders</p> <p>· &nbsp;First donation to charity</p> <p>· &nbsp;Verification of all socials</p> <p>· &nbsp;Influencer campaign</p> <p>· &nbsp;Media stunt</p> <p>· &nbsp;Meme machine at full tilt</p> <p>· &nbsp;Community given Big Eyes e-sticker</p> <p>· &nbsp;NFT snippets released</p> <p>· &nbsp;Big Eyes Swap live</p> <p>· &nbsp;Listed on new SWAPS</p> <p>· &nbsp;First bridge added</p> <p>Merch shop live</p> <p>&nbsp;</p> <p>Stage Three: Run</p> <p>· &nbsp;NFT release</p> <p>· &nbsp;First NFT exclusive IRL</p> <p>· &nbsp;Second donation to charity</p> <p>· &nbsp;50,000 Telegram members</p> <p>· &nbsp;50,000 holders</p> <p>· &nbsp;Massive influencer campaign</p> <p>· &nbsp;Bigger media stunt</p> <p>· &nbsp;Meme machine on overdrive</p> <p>· &nbsp;Community Big Eyes e-stickers refreshed</p> <p>&nbsp;</p> <p>Stage Four: Catwalk</p> <p>· &nbsp;All about community events</p> <p>· &nbsp;$1 million to charity</p> <p>· &nbsp;Bridge more chains</p> <p>· &nbsp;Add more swaps</p> <p>· &nbsp;NFTs evolve</p> <p>&nbsp;</p> <p>Could Big Eyes Coin be a scam?</p> <p>&nbsp;</p> <p>The cryptocurrency world is wrought with turbulence. It is often hard to predict a rise or fall of a coin, which breeds uncertainty that eventually blooms into distrust. It is always advised that research is conducted before a coin is sided with and it is often best to see a professional financial advisor before any moves are made.</p> <p>&nbsp;</p> <p>Big Eyes is still in its pre-launch stage and so it's too soon to tell if it could be a harbinger of issues, but so far, the coin has been giving only green flags. It even had its token audited thrice to seek out any security vulnerabilities and imperfections and you know what they say; the third time’s the charm. This kitty coin appears to have a good head on its shoulders and it is unlikely that it is anything but legitimate.</p> <p>&nbsp;</p> <p>Pre-sale:&nbsp;<a href="https://buy.bigeyes.space/"></a><a href="https://buy.bigeyes.space/"><u>https://buy.bigeyes.space/</u></a>&nbsp;&nbsp;</p> <p>&nbsp;</p> <p>Website:&nbsp;<a href="https://www.bigeyes.space/"></a><a href="https://www.bigeyes.space/"><u>https://www.bigeyes.space/</u></a>&nbsp;&nbsp;</p> http://www.theweek.in/news/biz-tech/2022/09/09/did-you-miss-out-on-top-coins-that-did-100x--here-s-another-chan.html http://www.theweek.in/news/biz-tech/2022/09/09/did-you-miss-out-on-top-coins-that-did-100x--here-s-another-chan.html Fri Sep 09 17:49:29 IST 2022