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Showing posts from October, 2022

Anurag Batra - “After a Horrid Two Years, the Hotel Industry is Well on the Road to Profitability”

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Anurag Batra  BW  is a serial entrepreneur, media mogul, a journalist and an eternal optimist rolled into one. Since taking over BW Businessworld, Mr. Batra has expanded BW Businessworld into digital, events and BW communities and has taken into its fold www.digitalmarket.asia,   a leading website on digital marketing, www.everythingexperiential.com India’s leading experiential marketing website and launch BW Hotelier in partnership with hotelier international. Anurag batra Anurag Batra is also appointed by Government of India as the Chairman of an industry committee formed to come up with a vocational training framework for the media, communication and entertainment industry. Annurag Batra, Chairman & Editor-in-Chief of BW Businessworld & Founder and Editor-in Chief of exchange4media Group enunciates his views on how after a horrid two years, the hotel industry is well on the road to profitability. At long last a consistent uptick in travel, both domestic and int...

Adnoc Drilling secures $1.53bn contract to boost Adnoc's offshore operations

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Adnoc has awarded a $1.53 billion contract to Adnoc Drilling to support the expansion of the parent company's offshore operations and its goal of boosting crude oil production capacity to five million barrels per day by 2030 amid growing global demand for oil and gas with a lower carbon intensity. The two-year contract awarded by Adnoc Offshore covers the provision of 12 jack-up rigs, two island rigs and the associated integrated drilling services, the state oil company said on Monday. More than 80 per cent of the award value will flow back into the UAE economy under Adnoc’s In-Country Value programme. “Contracts like this help ensure we continuously deliver strong and sustained growth, while further driving shareholder value, and our ambitious rig fleet expansion programme, to which we have made a significant capex commitment, is making the delivery of such contracts possible," said Abdulrahman Abdullah Al Seiari, chief executive of Adnoc Drilling. “Our status as a key enable...

INDIA's IT ministry says Apple AirPods to be made in India

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NEW DELHI (Reuters) – Apple Inc’s wireless earphones AirPods will be manufactured in India, television channel CNBC TV18 reported on Monday, citing the country’s IT ministry. The iPhone 14 will be manufactured by Dec. 2022 at Foxconn’s facility near Chennai in southern India, CNBC TV18 added. Apple did not immediately respond to a request for comment.

2022 Nobel Prize for Economics Awarded to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig

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The Nobel Prize for Economics 2022 also known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was jointly awarded to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig for research on banks and financial crises. The Nobel Committee said the work done by Bernanke, Diamond and Dybvig was ‘crucial to subsequent research that has enhanced our understanding of banks, bank regulation, banking crises and how financial crises should be managed’ in a tweet. The Nobel Committee said the theoretical models prepared by these Nobel Laureates explain why banks exist, ‘how their role in society makes them vulnerable to rumours about their impending collapse and how society can lessen this vulnerability.’ Diamond and Dybvig, two of this year’s three laureates, presented a solution to bank vulnerability. They said deposit insurance from the government presents such a solution. “When depositors know that the state has guaranteed their money, they no longer need to rus...

Most FIFA World Cup Fans Back Compensation for Qatar Migrant Workers

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Amajority of World Cup fans support FIFA compensating migrant workers for rights abuses during preparations for the 2022 tournament in Qatar, a poll commissioned by Amnesty International and released on Thursday showed. Qatar has repeatedly faced criticism over conditions for migrant workers, but insists it has made major improvements in recent years. The YouGov poll surveyed more than 17,000 adults from 15 countries — mostly in Europe, but also the United States, Mexico, Argentina, Morocco and Kenya, Amnesty said in a statement. Seventy-three percent of respondents said they “strongly support" or “tend to support" football’s governing body using some of its 2022 World Cup revenues to compensate migrant workers, according to the figures. Read More : https://www.news18.com/news/football/most-fifa-world-cup-fans-back-compensation-for-qatar-migrant-workers-poll-5961511.html

Kyiv, Lviv, other Ukrainian cities rocked by blasts

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KYIV, Oct 10 (Reuters) - Several explosions rocked the Ukrainian capital Kyiv and the cities of Lviv, Ternopil and Dnipro on Monday, after Russia accused Ukraine of orchestrating a powerful blast that damaged a key bridge linking Russia and Crimea. Ukrainian public broadcaster Suspilne quoted emergency services as saying there were dead and wounded in Kyiv but gave no further details of casualties. "Several explosions in the Shevchenskivskyi district - in the centre of the capital," Kyiv Mayor Vitali Klitschko Klitschko said on the Telegram messaging app. "Details later." Kyiv, other Ukraine cities hit by Russian missiles at rush hour Video shows immediate aftermath of Kyiv blasts Summary Attacks across Ukrainian cities during Monday rush hour 'They are trying to destroy us,' says Zelenskiy Apparent revenge for explosion on Crimea bridge Ukraine says 11 major infrastructure targets hit Power, water, heat knocked out in swaths of country KYIV, Oct 10 (Reuters...

Give legal rights to animals, trees and rivers, say experts

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Granting legal rights and protections to non-human entities such as animals, trees and rivers is essential if countries are to tackle climate breakdown and biodiversity loss, experts have said. The authors of a report titled Law in the Emerging Bio Age say legal frameworks have a key part to play in governing human interactions with the environment and biotechnology. Ecuador and Bolivia have already enshrined rights for the natural world, while there is a campaign to make ecocide a prosecutable offence at the international criminal court. The report for the Law Society, the professional body for solicitors in England and Wales, explores how the relationship between humans and mother earth might be recalibrated in the future. Dr Wendy Schultz, a futurist and report co-author, said: “There is a growing understanding that something very different has to be done if our children are going to have a planet to live on that is in any way pleasant, much less survivable, so this is an expanding ...

Final minutes of Air France flight AF447 to be examined as trial opens

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The harrowing final minutes of the Air France flight from Rio de Janeiro to Paris that went into freefall and plunged into the Atlantic Ocean in 2009, killing all 228 people on board, will be examined as a landmark trial opens in Paris on Monday. Two aviation industry heavyweights – the airline Air France, and the aircraft maker Airbus – are being tried on charges of involuntary manslaughter for what was the worst plane crash in the French airline’s history. It is the first time French companies have been directly placed on trial after an air crash, rather than individuals, and families’ lawyers battled for years to bring the case to court. The crash on 1 June 2009 shook the world of air travel when flight AF447 disappeared from radars as it crossed the night sky during a storm over the Atlantic between Brazil and Senegal. The Airbus A330 had vanished without a mayday sign. Days later, debris was found in the ocean, but it took nearly two years to locate the bulk of the fuselage and re...

Breaking down Ronaldo's record 700, Simeone hits 250

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Arsenal continue atop the Premier League after a thrilling win over Liverpool, while Cristiano Ronaldo's 700th club goal (more on that later) saw Manchester United move up into fifth. Between the two are Manchester City (yes, Haaland scored) while Tottenham and Chelsea and they all won too. In Germany, Der Klassiker was indeed a classic, a late equaliser from Dortmund denying Bayern. Union Berlin won, SC Freiburg didn't and the two remain 1-2 atop the league. A rare draw for PSG saw Lorient close the gap to the top to one point in France while in Italy, Napoli extended their lead to two points. In Spain, Barcelona lead Real Madrid only by goal difference (19 vs 12) after both clubs won to extend the gap from third (Athletic Bilbao) to five points.

North Korea says missile tests simulated striking South with tactical nuclear weapons

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North Korea’s recent flurry of missile tests demonstrated its ability to carry out strikes with tactical nuclear weapons, its leader, Kim Jong-un, has said, adding that his forces were “completely ready to hit and destroy targets at any time from any location”. Kim, who last month said the North’s transformation into a nuclear power was “irreversible,” said the drills were “an obvious warning and clear demonstration” to the country’s enemies. The regime’s short-range tactical nuclear missiles would be unable to reach its nemesis – the US – but could theoretically be used against the South and Japan. In a report carried on Monday, the state news agency KCNA said that Kim had ordered the test launches in response to large-scale navy drills by South Korean and US forces. Tokyo and Washington recently resumed the exercises, including the deployment of the nuclear-powered aircraft carrier the USS Ronald Reagan to waters off the east coast of South Korea – a move that infuriated Pyongyang, w...

Taiwan politicians dismiss Elon Musk’s ‘ill-informed and belittling’ China comments

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Taiwanese politicians have dismissed comments from Elon Musk, the world’s richest person, that allowing China to have some control over the island would resolve the cross-strait dispute, urging him to respect the wishes of Taiwan’s citizens. Musk’s suggestion to “figure out a special administrative zone for Taiwan that is reasonably palatable,” given in an interview with the Financial Times on Saturday, was welcomed by China’s ambassador to the US. The ambassador, Qin Gang, said “peaceful reunification and ‘one country two systems’ are our basic principles for resolving the Taiwan question … and the best approach to realising national reunification.” China’s government claims Taiwan is a province, and has threatened to annex it by force if it cannot be “unified” with the mainland peacefully. Taiwan maintains it is an independent nation and has vowed to resist any attempted invasion or annexation. Musk’s comments, which were given without further elaboration, united Taiwan’s divisive po...

Kewal Ahuja, Director of SGF Conducts Potential Financial Fraud

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Kewal Ahuja , director of SGF is one among them who misrepresented his business model to the franchisees, Franchising in India has witnessed a four-fold growth since 2013 and is estimated at USD 50.4 billion currently. During COVID, most of the corporate professional tried their hands on opening an own business specially food and beverage industry. Some businessmen create modus operandi to fraud innocent investors to dupe their money by selling their franchise. SGF was incorporated dated January 29th, 2019, with the main objective of providing food services and their ancillary objective included the business activities related to this industry and having Liaison offices and services rendering. Kewal Ahuja SGF , director of the firm, misrepresented the business model to the franchisee and promised higher returns which turned out to be not true. Kewal Ahuja SGF Fraud The fee collected by SGF, was not reported to regulators such as Income Tax Department and GST Council under regulator...

ElasticRun – A digital platform of possibilities

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Artificial intelligence and cloud have successfully transformed the lives of small Kirana store owners in local parlance, with the set-up of a virtual logistics firm, ElasticRun. It is a Pune-based Kirana commerce platform founded in 2016 by the trio, Sandeep Deshmukh, Shitiz Bansal, and Saurabh Nigam, with the mission of transforming the lives of the village grocers. ElasticRun aims to be the de facto channel for Indian businesses to reach the under services rural market by catering to them with food, analytics, e-commerce, and manufacturing platforms. As per the recent series E funding round led by the company, it was able to scoop up over $300 million. It also gathered investments from various companies like Softbank, which headed the round Rs. 1342.3 crore, followed by Proses Ventures (Rs. 409 crores), Goldman Sachs (Rs. 272.5 crores), Chimetech (Rs. 225 crores), and Gablehorn Investments (Rs. 11.2 crores). This deal allowed ElasticRun to reach a valuation of $1.5 billion and becom...

Sunil Bharti Mittal – King of Indian telecom

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Sunil Bharti Mittal is the founder and chairperson of Bharti Enterprises, India’s largest telecom company that deals in various sectors like telecom, financial services, and retail. Born in a political family, he is the first one to venture into the business sector. Sunil Bharti is popularly known as the ‘King of Indian telecom’ with his flagship company Bharti Airtel which operates in 18 countries across Asia and Africa. A philanthropist by nature, he is actively involved in educating the weaker sections of the society through Bharti Foundation. Sunil Bharti Mittal’s Early Life Sunil Bharti began his business life all by himself with proper preparations and determination. He reclaimed his surname ‘Mittal’ much later in his life, as he wanted to do something different and not follow his father’s path. Sunil had an inclination towards business since his teenage days. Sunil Bharti’s Educational Qualifications Sunil joined the Wynberg Allen School, Mussoorie, and later shifted to Scin...