Posts belonging to Category India



Twitter restricts numerous high-profile accounts in India

The platform’s problems in the country offer a stark example of the difficulty of adhering to its free-speech principles amid government worries over its influence.

Twitter held firm when the Indian government demanded last week that the social media platform take down hundreds of accounts that criticized the government for its conduct during protests by angry farmers.

On Wednesday, under threat of prison for its local employees, Twitter relented.

The company, based in San Francisco, said it had permanently blocked over 500 accounts and moved an unspecified number of others from view within India after the government accused them of making inflammatory remarks about Narendra Modi, the country’s prime minister. Twitter said it had acted after the government issued a notice of noncompliance, a move that experts said could put the company’s local employees in danger of spending up to seven years in custody.

In a blog post published on Wednesday, Twitter said it was not taking any action on the accounts that belonged to media organizations, journalists, activists or politicians, saying it did not believe the orders to block them “are consistent with Indian law.” It also said it was exploring its options under local laws and had requested a meeting with a senior government official.

https://www.nytimes.com/

World’s population in 2100 could be 2 billion below UN projections

China‘s will fall from 1.4 billion people today to 730 million in 80 years

Earth will be home to 8.8 billion souls in 2100, two billion fewer than current UN projections, according to a major study published Wednesday that foresees new global power alignments shaped by declining fertility rates and greying populations. By century’s end, 183 of 195 countries – barring an influx of immigrants -– will have fallen below the replacement threshold needed to maintain population levels, an international team of researchers reported in The Lancet.

More than 20 countries – including Japan, Spain, Italy, Thailand, Portugal, South Korea and Poland – will see their numbers diminish by at least half. China‘s will fall nearly that much, from 1.4 billion people today to 730 million in 80 years. Sub-Saharan Africa, meanwhile, will triple in size to some three billion people, with Nigeria alone expanding to almost 800 million in 2100, second only to India’s 1.1 billion.

https://www.france24.com/

Google will invest $4.5 billion into India’s biggest mobile internet provider

Reliance Jio Platforms has amassed more than 400 million subscribers

Google  has become the latest high-profile firm to back India’s Reliance Jio  Platforms. The search giant is investing $4.5 billion for a 7.73% stake in the top Indian telecom network, Reliance Industries chairman Mukesh Ambani said on Wednesday.

The investment today from Google is one of the rare instances when the Android-maker has joined its global rival Facebook in backing a firm. Facebook invested $5.7 billion in Reliance Jio Platforms, which has amassed more than 400 million subscribers in less than four years of its existence, in April this year for a 9.99% stake in it. Facebook is the largest minority stakeholder in Jio Platforms.
https://techcrunch.com/

Amazon, Google, Twitter, speak out against Trump H-1B visa freeze

Work visas H-1B widely used in the IT industry

The tech giants of the world are not pleased with Donald Trump’s decision to suspend all foreign work visas including H-1B, widely used in the IT industry, till the end of the year.

Hours after the proclamation was issued by the US President, Google CEO Sundar Pichai took to Twitter to express his disappointment.

The India-born tech head stressed on the importance of immigration and how it has contributed to America’s economic success. “Disappointed by today’s proclamation – we’ll continue to stand with immigrants and work to expand opportunity for all,” he wrote.

https://economictimes.indiatimes.com/

 

Strong recovery in India

GDP growth could be close to 8.5 percent in FY 2022

Global rating agency S&P Ratings (Standard and Poor’s) has said that despite a big fall in FY 2021, there are signs of a strong recovery in India. With this, India’s GDP growth could be close to 8.5 percent in FY 2022. However, the agency has said that there is a need to improve the weak Financial Sector and Labor Market. If this is not done then recovery may be affected. The agency has projected a 5% GDP contraction in the current financial year.

The rating agency has kept India’s Sovereign credit ratings unchanged at ‘BBB-‘. The agency has confirmed its unscheduled ratings on India’s foreign and local currency as ‘BBB-‘ for the long term and ‘A-3’ for the short term. Also, S&P Global Ratings has stated that India’s outlook is stable on long-term ratings. The rating agency said in a statement on Wednesday that the stable scenario reflects our expectation that India’s economy will improve after the COVID-19 epidemic is halted and the country will maintain its net external position.

https://www.inventiva.co.in/

WTO faces crisis

WTO could cease to settle disputes between its member states

The World Trade Organization is set to plunge into the biggest crisis in its 25-year history later this week as the climax to a long-running and bitter dispute means the Geneva-based body will cease to be able to settle disputes between its member states.

Unless Donald Trump backs off at the last minute and agrees to a peace plan, Washington’s protracted battle to safeguard US sovereignty will lead to the neutering of the WTO’s ability to police global trade.

However, hopes are fading that the US will agree to a blueprint drawn up by a senior diplomat in Geneva that would keep the WTO’s appellate body – the ultimate arbiter of trade disputes – operating beyond the 11 December deadline. One trade source said the failure to resolve the row amounted to an “existential crisis” for the WTO because it affected its ability to fulfil one of its core functions.

The looming paralysis will lead to a backlog of unresolved disputes and make it easier for countries to break WTO trade rules without facing penalties.

https://theguardian.com/

Airbus Wins $33 billion Order From Asian Carrier IndiGo

Airbus biggest ever deal

Airbus SE landed one of its biggest-ever deals with the sale of 300 narrow-body planes to Indian budget carrier IndiGo that’s worth more than $33 billion at sticker prices.

The contract for A320neo-series jets includes the latest XLR long-range variant and takes IndiGo’s orders for the re-engined aircraft to 730, the companies said in a statement Tuesday. That’s equivalent to more than 10% of all sales of the model, part of a class of workhorse plane that far outsells all other types.

The transaction marks the latest victory for Airbus as Boeing Co. reels from the grounding of the rival 737 Max after two fatal crashes in five months. Boeing chief Dennis Muilenburg is due to appear before U.S. lawmakers Tuesday amid mounting pressure from his board, regulators and airlines.

http://www.bloomberg.com

Asian stocks retreat

U.S. political tumult adds to growth worry

Asian stock markets retreated again on Wednesday, extending a rout that began last week as U.S. political uncertainty exacerbated worries over slowing global economic growth.

Investors were unnerved by the U.S. federal government partial shutdown and President Donald Trump’s hostile stance toward the Federal Reserve chairman. U.S. Treasury Secretary Steven Mnuchin had also raised market concerns by convening a crisis group amid the pullback in stocks.

S&P 500 emini futures were last down 0.6 percent, pointing toward a lower start for Wall Street when the U.S. market reopens after Christmas Day, when many of the world’s financial markets were shut.

http://reuters.com

Nigeria and India, champions of the extreme poverty in the world

Nigeria overtakes India

Nigeria has overtaken India as the country with the largest number of people living in extreme poverty, with an estimated 87 million Nigerians, or around half of the country’s population, thought to be living on less than $1.90 a day. The findings, based on a projection by the World Poverty Clock and compiled by Brookings Institute, show that more than 643 million people across the world live in extreme poverty, with Africans accounting for about two-thirds of the total number.

In Nigeria, as with other countries on the continent, that figure is projected to rise. “By the end of 2018 in Africa as a whole, there will probably be about 3.2 million more people living in extreme poverty than there are today,” the researchers write.
Despite being the largest oil producer in Africa, Nigeria has struggled to translate its resource wealth into rising living standards.

What is Davos 2018?

Who is attending the World Economic Forum?

THE world’s most powerful leaders will meet tomorrow at Davos 2018 for an annual four-day elite conference known as the World Economic Forum. But what is Davos 2018 and who is attending the World Economic Forum? A global political get-together for around 2,500 movers and shakers from the worlds of business, politics, finance and media, the World Economic Forum is held annually each year in the town of Davos.
The mountain resort sits high up in the eastern Alps of Switzerland in Graubunden, the largest and and most eastern member state of the country. It is home to one of the Switzerland’s biggest ski resorts and is also the highest “town” in Europe at 1,560m. Davos 2018 will run from January 23 to 26 under the theme of “Creating a Shared Future in a Fractured World” and will be the the 48th forum to date.
http://express.co.uk…  January 23, 2018

India to Become the World's Fifth Largest Economy in 2018

India Looks Set to Leapfrog the U.K. and France 

India looks set to leapfrog Britain and France next year to become the world’s fifth-largest economy in dollar terms, a report showed on Tuesday. The Centre for Economics and Business Research (Cebr) consultancy’s 2018 World Economic League Table painted an upbeat view of the global economy, boosted by cheap energy and technology prices.
India’s ascent is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years.
http://www.fortune.com… Tue., 26  December 2017

India's economy has bounced back

A year-long slowdown

India’s economy has bounced back from a year-long slowdown, but not enough to regain the global growth crown from China.
Gross domestic product grew by 6.3% in the three months through Sept. 30, up from 5.7% in the previous quarter. That compares with China’s growth rate of 6.8% in the same period.
Still, the numbers will be music to the ears of Indian Prime Minister Narendra Modi, whose two biggest policy decisions of the past year have been widely blamed for a slump that cut growth to its slowest pace in three years. India was the world’s fastest growing major economy at the end of 2016, with GDP expanding by 7%. But the sudden ban last November of India’s two most valuable rupee notes at the time — accounting for 86% of the country’s cash — stunned industry and brought activity in some sectors of the economy to a screeching halt.
http://www.cnn.com… Fri., 01  December 2017

America's pledge on climate change

California Governor Jerry Brown and Michael Bloomberg Launch “America’s Pledge”

 Today, California Governor Jerry Brown and Michael Bloomberg launched America’s Pledge on climate change, a new initiative to compile and quantify the actions of states, cities and businesses in the United States to drive down their greenhouse gas emissions consistent with the goals of the Paris Agreement.
Since the White House announcement of its intention to withdraw from the Paris Agreement, an unprecedented number of U.S. states, cities, businesses, and colleges and universities have reaffirmed their support for the Paris Agreement through collaborations including the “We Are Still In” declaration, the Climate Mayors coalition of cities, the U.S. Climate Alliance group of states, and others.
Building on this positive momentum, the America’s Pledge initiative will for the first time aggregate the commitments of these and other “non-Party actors” in a report on the full range of climate-related activities across the whole of U.S. society. The process of developing America’s Pledge will also provide a roadmap for increased climate ambition from U.S. states, cities, businesses and others, and will transparently demonstrate to the international community how and in which ways these entities can help the U.S. deliver on its pledge under the Paris Agreement.
http://www.bloomberg.com…   Thu.,  13  July 2017

The new Silk Road

Summit promotes global trade infrastructure project

China opens on Sunday a summit to promote its massive global trade infrastructure project, highlighting Beijing’s ambitions to spearhead a new era of globalisation as Washington shifts toward inward-looking policies. President Xi Jinping will host leaders from 29 nations in Beijing for a two-day forum on his signature foreign policy programme, a revival of the Silk Road dubbed the One Belt, One Road Initiative. The Chinese-bankrolled project, unveiled in 2013, seeks to link the country with Africa, Asia and Europe through an enormous network of ports, railways, roads and industrial parks.
The initiative spans some 65 countries representing 60 percent of the world population and around a third of global gross domestic product. The China Development Bank has earmarked $890 billion for some 900 projects. Belt and Road is seen as a practical solution to relieve China’s industrial overcapacity. But it could also serve Beijing’s geopolitical ambitions.
http://www.i24news.tv…  Mon.,  15  May 2017

Terrifying prediction for jobs in developing countries

Automation a threat to 77% jobs in China

Research has predicted that the proportion of jobs threatened byautomation in India is 69%, while it is 77% in China and 85% in Ethiopia, World Bank President Jim Yong Kim has said, citing data from the multilateral agency.
http://www.indiatimes.com…  Tue.,  02 May 2017