By BY ALIX STRAUSS from NYT en Español https://ift.tt/3pHBaIl
Friday, 31 December 2021
Propósitos para una mejor vida en pareja en 2022
By BY ALIX STRAUSS from NYT en Español https://ift.tt/3pHBaIl
PM Modi to lay foundation stone of Major Dhyan Chand Sports University in Meerut
from The Indian Express https://ift.tt/3HsvxUe
3rd wave: Mumbai positivity rate shoots to whopping 7.6 %, experts warn of higher cases than 2nd wave
Sooner than anticipated the apprehensions about the third Covid-19 wave in the country are coming true. The city of Mumbai which was one of the worst affected cities during the first and second wave of Covid-19 recorded the positivity rate of a whopping 7.67 percent on Thursday. Going by the suddenly shot up positivity rate, public health experts are expecting a much higher daily count of Coronavirus cases than the second wave.
Out of over 46 tests conducted in the financial capital of the country on Thursday a total of 3555 samples were found to be positive for Coronavirus, the Indian Express reported. What makes the rise in the positivity rate even more shocking is the huge jump of about 3 percent from the positivity rate recorded on Wednesday which remained 4.84 percent. On Wednesday the total number of Coronavirus cases recorded in the city was 2,510 out of the total 51,843 tests that were conducted on the same day.
In line with the previous trends recorded in the city, the number of cases traced in Mumbai is contributing heavily to the increase in the overall COvid-19 count of the state. Out of the total 5368 Coronavirus cases registered in the state of Maharashtra on Thursday, about 66 percent came from Mumbai.
Pondering over the sudden increase in the daily positivity rate in the city, health experts have warned that the cases will shoot and surpass the level of the first and second wave. Dr Shashank Joshi, who is a member of the Covid-19 task force in the state, told the Indian Express that since the number of cases is doubling in less than 24 hours, the cases will definitely increase more than the second wave. Dr Joshi further said that hospitalisation along with fatality is however expected to be lesser than before. He further added that it is not the right time to keep our guard down.
from The Financial Express https://ift.tt/3EBedLa
Spelling Bee Forum
By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Crosswords & Games https://ift.tt/3Jt3pCl
Vir Das reflects on 2021 and 2 Indias, says he ‘got called a traitor, terrorist and Emmy nominee’
from The Indian Express https://ift.tt/3HsvM1B
Crude oil prices rally 56% this year; Covid variant Omicron, demand worries, others to impact rates in 2022
By Sugandha Sachdeva
There has been no looking back for crude oil since prices plunged briefly below $0 in spring 2020. The energy counter has made a strong comeback since then and sustained a robust rally in 2021. From the very beginning of the year, there has been an unrelenting up move with little pauses in between, where prices hit their highest levels since 2014. A shift from extreme pessimism to vibrant optimism can be attributed to a rebound in demand as the global economy began to recover from the pandemic-induced abyss due to the roll-out of vaccines, where industrial activities picked up and easing travel restrictions lifted the fuel consumption. Also, OPEC and allies continued with their record production cuts of 9.7 mbpd since mid-2020, to clear the supply glut which anchored the prices on an uphill journey. Saudi Arabia even added 1mbpd of voluntary output cuts from February through March to prop up the prices.
In the later part of the year, the oil cartel however changed its stance and decided to gradually withdraw output cuts, against the backdrop of revival in demand. However, supply bottlenecks amid Hurricanes Ida and Nicholas, low inventories, and finally the energy crunch gripping parts of Europe and Asia, with soaring coal and natural gas prices led to a lot of substitute demand and a steep rise in oil prices. Despite the pressure from some large consumers to pump more oil, OPEC+ stuck to their plans to raise supply gradually. This pushed prices on the upwards trajectory as supply was not able to match the rapidly rising demand, leading to tightening of the market. Besides, the U.S. production was not able to compensate for OPEC+ supply cutbacks and remained far from the 12.3 mbpd record set in 2019, owing to storm-related disruptions and under-investment in the sector.
However, towards the end of the year, prices slipped from their multi-year highs as some western majors joined hands with some Asian powers to combat high oil prices and agreed to release oil from their strategic reserves. Also, speculative interest registered a fall as market participants unwound long trades to lock splendid gains. Demand concerns resurfaced prompted by the emergence of the new Omicron Covid variant and prices eased off from multi-year highs. Nonetheless, as we wrap up the year 2021, crude oil prices closed with remarkable gains of around 56 percent.
As we step into 2022, it seems prices will soften initially as there is a lot of uncertainty stemming from the fast-spreading Omicron variant. While supply is anticipated to witness a rise from the major producers, demand worries would keep prices under check amidst the fragility emanating from the Covid threat. OPEC+ alliance plans to stick to their existing policy of restoring monthly output by 400,000 bpd, though it remains to be seen how they react to the recent risks to demand from re-imposition of lockdown measures in certain countries. Also, non-OPEC supply is likely to grow by 3 mbpd next year. As per the EIA, US production is expected to average 11.9 mbpd in 2022. Drilling activity in the United States is picking up, where the total rig count rose to 586 in the week to Dec 23, 2021, up almost 68% as compared to the same period of 2020. This trend might intensify at a time when global oil demand growth is expected to slow down, leading to an oversupply situation in oil markets during Q1 2022. More so, as the major central banks gear up to tighten monetary policy due to rising inflationary pressures, it will hurt risk sentiments in the markets and would act as another headwind for oil prices.
Underscoring the near-term triggers, overall things are still taking good shape. Stats suggest that the global oil demand outlook is upbeat, where industrial consumption has already surpassed 2019 levels, even as jet fuel demand for aviation is still hovering 15-20% below 2019 levels. While demand in the major oil consumers such as China, the U.S., and India is close to pre-pandemic levels as economies recover swiftly, the EIA and OPEC expect the world to follow suit and global consumption is forecast to exceed the 100 mbpd mark by end of 2022. For the year ahead, demand for oil in OECD countries is expected to rise by 1.8mbpd, while in the non-OECD region it is forecasted to surge by 2.3mbpd, aided by improved demand prospects, particularly in Asia. Though the pandemic drags on, the world is more prepared to deal with the related challenges, amid strides being made in vaccinating growing shares of the population, and Omicron is projected to have a mild impact on the global oil demand as compared to the previous waves. OPEC+ would also continue adjusting its supply policy based on the evolving demand scenario that shall underpin prices to a large extent.
Decoding the dynamics that will steer oil prices in 2022, the energy counter looks to witness profit booking in the initial months, where it could find a firm base around Rs.4000-3600 per bbl levels ($55-50 per bbl for WTI crude). Moving ahead, recovery could be witnessed from H2 onwards, where the intermediate correction phase seems to mark a shift and oil prices shall resume northwards path. Crude oil seems to traverse towards Rs.6500-6000 per bbl level initially, whereas a sustained move above the same zone could encourage further buying interest towards the next territory at the Rs.7500 per bbl or $110 per bbl mark for the year.
(Sugandha Sachdeva is VP- Commodity & Currency Research, Religare Broking. Views expressed are the author’s own.)
from The Financial Express https://ift.tt/3pHETpg
Thursday, 30 December 2021
Why Generations of Black Americans Have Celebrated the New Year at Church
By BY ESAU MCCAULLEY from NYT Opinion https://ift.tt/3mICtF2
Restaurants in Pune get ready for the holidays amidst the uncertainty of Omicron
from The Indian Express https://ift.tt/3qurXlQ
Delhi reports maximum cases of Omicron, country’s tally rises to 961
India recorded the highest single day rise of Omicron infections with 180 fresh cases, taking the total tally of such infections in the country to 961, according to the Union Health Ministry data updated on Thursday.
The 961 cases have been detected across 22 states and UTs so far, and 320 people have recovered or migrated. Delhi recorded the maximum number of 263 cases followed by Maharashtra at 252, Gujarat 97, Rajasthan 69, Kerala 65 and Telangana 62.
The daily rise in COVID-19 cases crossed the 13,000 mark after around 49 days, taking the total tally to 3,48,22,040, while the active cases increased to 82,402, according to the data updated at 8 am.
The death toll has climbed to 4,80,860 with 268 fresh fatalities, the data stated. A total of 13,091 new coronavirus infections were reported in a span of 24 hours on November 11.
The daily rise in new coronavirus infections has been recorded below 15,000 for the last 63 days now.
The active cases comprise 0.24 per cent of the total infections, while the national COVID-19 recovery rate was recorded at 98.38 per cent, the ministry said. An increase of 5,400 cases has been recorded in the active COVID-19 caseload in a span of 24 hours.
The active cases comprise 0.24 per cent of the total infections, while the national COVID-19 recovery rate was recorded at 98.38 per cent, the ministry said. An increase of 5,400 cases has been recorded in the active COVID-19 caseload in a span of 24 hours.
The daily positivity rate was recorded at 1.10 per cent. It has been less than two per cent for last 87 days. The weekly positivity rate was also recorded at 0.76 per cent. It has been below one per cent for the last 46 days, according to the ministry.
The number of people who have recuperated from the disease surged to 3,42,58,778, while the case fatality rate was recorded at 1.38 per cent. The cumulative doses administered in the country so far under the nationwide COVID-19 vaccination drive has exceeded 143.83 crore.
India’s COVID-19 tally had crossed the 20-lakh mark on August 7, 2020, 30 lakh on August 23, 40 lakh on September 5 and 50 lakh on September 16. It went past 60 lakh on September 28, 70 lakh on October 11, crossed 80 lakh on October 29, 90 lakh on November 20 and surpassed the one-crore mark on December 19. India crossed the grim milestone of two crore on May 4 and three crore on June 23. The 268 new fatalities include 211 from Kerala and 20 from Maharashtra.
A total of 4,80,860 deaths have been reported so far in the country including 1,41,496 from Maharashtra, 47,277 from Kerala, 38,324 from Karnataka, 36,758 from Tamil Nadu, 25,107 from Delhi, 22,915 from Uttar Pradesh and 19,745 from West Bengal.
The ministry stressed that more than 70 per cent of the deaths occurred due to comorbidities. “Our figures are being reconciled with the Indian Council of Medical Research,” the ministry said on its website, adding that state-wise distribution of figures is subject to further verification and reconciliation.
from The Financial Express https://ift.tt/3qAKpJB
Spelling Bee Forum
By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Crosswords & Games https://ift.tt/3FG0wfn
‘Maps of Disquiet’: Chennai Photo Biennale addresses the exigencies of our time
from The Indian Express https://ift.tt/3FHWv9Y
Delhi set to ring in New Year in chilly weather; cold wave to severe cold wave likely till January 3
A cold wave swept Delhi on Thursday as people in the city gear up to ring in a chilly New Year with the weather department predicting similar conditions till January 3.
The minimum temperature at the Safdarjung Observatory, considered the official marker for the national capital, dropped sharply to 3.4 degrees Celsius, four notches below normal. On Wednesday it was 8.4 degrees Celsius.
The automatic weather stations at Delhi’s Ayanagar and Narela on Thursday recorded a minimum temperature of 3.8 degrees Celsius and 3.2 degrees Celsius, respectively.
In the plains, the India Meteorological Department (IMD) declares a cold wave if the minimum temperature dips to 4 degrees Celsius. A cold wave is also declared when the minimum temperature is 10 degrees Celsius or below and is 4.5 notches less than normal.
Delhi had experienced cold wave conditions on December 20 and 21 when the minimum temperature settled at 3.2 degrees Celsius, the lowest this season so far, and 4 degrees Celsius.
Thereafter, two back-to-back western disturbances and the resultant slowing down of cold northwesterly winds and cloudy conditions gradually pushed the minimum temperature up to 9.8 degrees Celsius. Clouds trap some of the outgoing infrared radiation and radiate it back downward, warming the ground.
The IMD has predicted cold wave to severe cold wave conditions in northwest India till January 3. A “severe” cold wave is when the minimum temperature dips to two degrees Celsius or the departure from normal is more than 6.4 degrees Celsius.
The weather department predicted the minimum temperature will start increasing from January 4 under the influence of an active western disturbance which is very likely to cause fairly widespread rainfall and snowfall over Jammu and Kashmir and Himachal Pradesh between January 4 and 7. It will also lead to “light to moderate scattered to fairly widespread” rainfall over Punjab, Haryana, Chandigarh Delhi, north Rajasthan and west Uttar Pradesh between January 5 to January 7.
from The Financial Express https://ift.tt/3HlZwNJ
Wednesday, 29 December 2021
SP promises Rs 5 lakh compensation for death in bullfight, people react on Twitter
Twitter had a field day today as the opposition Samajwadi Party promised Rs 5 lakh compensation for cyclists killed in a road accident and also for those killed in a fight with a bull, if voted to power. The unique promise of compensation for bullfight victims allowed the social media users to come up with a meme-fest by taking hilarious digs.
“The SP government will give Rs 5 lakh compensation to cyclists killed in a road accident,” the party said on Twitter. In another post, it said, “The SP government will give Rs 5 lakh compensation to those killed in the fight with a bull.” The original post, however, remained there till the time of filing this report.
In reply to these promises, Twitterati came up with hilarious responses. Take a look:
A user wrote, “Wonderful. Since childhood, I had a strong desire to fight with the bull because apart from this, what else is there to do in life! But I was afraid that if there was some death, what would happen to the family after me. Akhilesh Bhaiya has cleared my dilemma with this announcement. As soon as the SP government comes, my encounter with the bull is certain.”
Another user said, “Initially I thought this is a morphed image. Then I saw blue tick. I was then sure that this account was hacked. But no it’s still there. So that was actually the tweet!”
“How farsighted is the inventor of the universe, honorable Akhilesh Yadav ji and how fortunate are we that we were born in his era. I bow down to Akhilesh ji. Other leaders should also take inspiration from this and give at least Rs 2 lakh compensation for death in a fight with a donkey,” said another Twitter user.
While some other uses recreated the promise. One user said that the Samajwadi Party will arrange for plaster and whitewash of the walls if the income tax team raids and breaks the wall.
Another user said that SP will give Rs 5 lakh to those who got cheated in love.
A Twitter user said that once the SP government is formed, it will give Rs 50,000 to youth for consuming alcohol after their breakup.
The 403 assembly constituencies of Uttar Pradesh will go to the polls early next year. While the ruling BJP has been on a spree to launch new projects ahead of the polls, SP chief Akhilesh Yadav has been campaigning extensively across the state.
from The Financial Express https://ift.tt/3EBscAs
5 Ways Young People Are Using Discord
By BY KELLEN BROWNING from NYT Business https://ift.tt/347eSYb
SPPU, CoEP and SIU bag top ranks for innovation by Min of Education
from The Indian Express https://ift.tt/3exGibz
Asia keeps omicron at bay, but a surge may be inevitable
Much of Asia has largely managed to keep omicron at bay even as the variant rages in other parts of the world, but the region that is home to most of the globe’s population is bracing for what may be an inevitable surge. Strict quarantine rules for arrivals and widespread mask wearing have helped slow the spread of the highly contagious variant in Asia. Countries such as Japan, South Korea and Thailand quickly reinstated entry and quarantine restrictions in recent weeks after relaxing them in the fall.
But cases are mounting, and experts say the next few months will be critical. Those fears have been amplified by doubts about the effectiveness of the Chinese-made vaccines used in China and much of the developing world.“Once the pace picks up, its upsurge would be extremely fast,” said Dr. Shigeru Omi, a top medical adviser to Japan’s government.
In India, which has been getting back to normal after a devastating COVID-19 outbreak earlier this year, omicron is once again raising fears, with more than 700 cases reported in the country of nearly 1.4 billion people.Australia is already dealing with multiple COVID-19 surges, with a state leader saying Wednesday that “omicron is moving too quickly.” Elsewhere, Thailand has topped 700 cases, South Korea has more than 500 and Japan, over 300. China, which has some of the strictest virus controls in the world, has reported at least eight.
Only four cases have been reported in the Philippines, where people flocked to shopping malls ahead of Christmas and to Mass in the biggest Roman Catholic nation in Asia. Some hospitals have even begun dismantling COVID-19 wards in a move experts say could prove to be premature. Japan managed to delay the spread of the new variant for about a month largely thanks to its reimposition of entry restrictions, mandatory COVID-19 tests for all arrivals and the isolation of all passengers on a flight if anyone tested positive for omicron.
But the barrier was broken last week when the first locally transmitted cases were confirmed in the neighboring cities of Osaka and Kyoto. Experts are urging the government to prepare for an imminent wave of infections by increasing testing, speeding up booster shots and preparing more beds at hospitals.
“We want to believe the omicron cases could be mild, but its fast-paced infections could quickly multiply the number of patients and could still overwhelm hospitals,” Omi said.Taiwan, where wearing a face mask is near universal in major cities, has started to offer booster shots of the Moderna vaccine and is urging people get a third shot before an expected influx of people returning home for Lunar New Year at the end of January.
Preliminary research has shown that booster shots of the Pfizer, AstraZeneca and Moderna vaccines offer continued, though diminished, protection against omicron.However, a Hong Kong University study that has yet to be published found that China’s widely used Sinovac vaccine does not generate enough antibodies to protect against omicron, even with a booster shot, according to a university news release. Hong Kong offers both the Sinovac and Pfizer vaccines.
Sinovac did not respond to a request for comment. Chinese officials have said their vaccines are still effective.“Our inactivated vaccines are still rather reliable and cover a range of antigens. Therefore, they won’t be completely ineffective against omicron,” Zhong Nanshan, a top government doctor, said at a public forum.Some countries that relied on the Chinese vaccines are turning to others for boosters.
Thailand, which largely used Sinovac and Sinopharm, another Chinese vaccine, is offering booster shots of AstraZeneca or Pfizer. Indonesia, where Sinovac has been the mainstay of a campaign to vaccinate its 270 million residents, is offering a Moderna booster for health care workers. The government is also planning boosters for the general population in January, though it hasn’t said which vaccine.China’s attitude toward the virus, omicron or not, is to stop transmission in its tracks, and the country appears to be getting even tougher with the approach of the Beijing Winter Olympics in February.
Officials locked down the city of Xi’an, a city and administrative area of 13 million people last week, amid a delta outbreak that has infected hundreds of people. On Monday, they ordered everyone to stay at home until another citywide round of testing was completed. Residents complained on social media about the sudden ban. Many were relying on instant noodles and other packaged food. Some worried how they would get enough food in the coming days, especially fresh vegetables.
China quarantines those arriving from abroad for weeks, depending on the province, with three weeks being the most common.How China’s zero-COVID-19 policy will play out at the Olympics is a major question. Athletes and visitors will not be allowed to leave the Olympic zones, and those attending such as officials, journalists and venue staff will be tested every day.
To contain a deadly delta-driven surge in South Korea, the government this month restored its toughest distancing rules with a four-person limit on private gatherings and a 9 p.m. curfew on restaurants.Health experts predict it’s only a matter of time before omicron comes.“Omicron has such a high transmission rate that it’s too obvious that it’ll become the dominant variant in South Korea at some point,” said Jaehun Jung, a professor at Gachon University College of Medicine in South Korea.
from The Financial Express https://ift.tt/3Evgvvi
Spelling Bee Forum
By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Crosswords & Games https://ift.tt/3sDuNYs
Rupee outlook 2022: Union Budget, state elections to impact INR; rupee to trade in this range in next 5 months
By Amit Pabari
It is said that inflows into the country lead to an appreciating move in the local currency and outflow leads to a depreciating move. For the first 9 months ending September, the equity market observed a whopping inflow of almost Rs 64,000 crore. Throughout this period, Indian Rupee remained in a tight range of 72.50 to 75.50 (As shown in the given weekly chart). The only reason behind the contained volatility and the tight range was RBI’s strong intervention.
Post-September, the equity market observed a heavy outflow due to multiple reasons such as hawkish turn by the Fed on rising inflation and upbeat US growth, widening domestic trade deficit, energy crisis due to supply disruption, and not the least one- Omicron variant. This all resulted in a depreciating move in Indian Rupee until mid-December up to the 76.30-mark. And this made it become the worst amongst the EM peers. Fortunately, the exporter’s rush and receding omicron risk cooled off a depreciating bias.
A story of 2021 will surely have a link with the momentum in 2022.
Negative factors for the Rupee could be:
1. India’s Union Budget & State elections: The focus will remain on India’s ‘budget’ in February and ‘state elections’. In the budget, we need to analyze whether the government comes up with a ‘Populist’ or a ‘Reformist’ one. It is really important to please both individuals and businesses. If it would be purely reformist then the market could take it otherwise that the government’s focus is on spending and infrastructure. And that higher fiscal target could lead to a deprecating move in the currency. A less populist budget will also nervous down the middle-class taxpayer. Moreover, we also have state elections in Goa, Manipur, Punjab, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Gujarat, and Jammu & Kashmir. Any changes in power will surely impact the state policies, borrowing, and growth. Both these factors could create uncertainty in the market, and have a negative impact on the Rupee.
2. A chance of ‘Twin Deficit’: The ‘Twin Deficit’, or double deficit, occurs when a nation has both a current account deficit and a budget deficit. Fortunately, as per the latest data, India is into a current account surplus worth USD 6.5 billion in April-June 2021 on rising services surplus. But definitely, upcoming Current account data for Oct to Dec quarter, India will face a big deficit issue as trade deficit- one of the components of Current Account Deficit has widened to a record high level.
3. US Fed’s more than 3-rate hikes: Looking at a gap between inflation and current interest rates, a deep negative real interest rate will keep on pressurizing the Fed to meet the expectations. We are expecting that 3-rate hikes are not enough to calm down ongoing inflation, hence, the Fed could do at least 4 or maybe 5 hikes of 0.25%. On further hawkish stance, EM could experience a flight of capital towards US back. Summing this, we could expect the US dollar index to head further higher towards 100 and 102 in 2022. Whereas, support lies at 95 and 93.80 levels.
Positive factors on Indian Rupee could be:
1. January Anomaly and IPO/corporate borrowing flows: Just after knocking on the door of 2022, the market will closely track the ‘January anomaly’ (It is said that “As goes January, so goes the year”). In domestic cases, we have a list of companies who have already filed their DRHP with SEBI and along with that, we will also see corporate borrowing inflows. This could surely help Rupee to remain on a positive note, considering a sideways movement in USD.
2. RBI’s hawkish turn: That apart, RBI’s recent stance has been strongly hawkish and a step towards normalization. For the third time in December, the central bank has taken a hawkish move and announced VRR of more than Rs 2 lakh crore. This hawkish stance going into the New Year will also recede pressure from the Rupee.
Outlook: It would be interesting to watch whether Rupee’s 2022 suspense box contains a ‘Joyful gift’ or a ‘Big Punch’. Broadly for Rupee, we are expecting a tug of war between given ‘Positives’ and ‘Negatives’. Whenever, Rupee will test near the 73.50-74.00 zone, the RBI will jump in to support the export valuation. On the flip side, there are higher chances that Rupee could remain in a depreciating mode and move towards 76.50-77.00 over the next 3 to 5 months and 78.50 in 2022.
(Amit Pabari is the Managing Director of CR Forex Advisors. Views expressed are the author’s own.)
from The Financial Express https://ift.tt/3ECuwXS
Tuesday, 28 December 2021
Sunfeast All Rounder celebrates the ‘Greatest All Rounders’ with ‘83
Sunfeast All Rounder has collaborated with Reliance Entertainment for its latest co-branded television commercial (TVC) with the new Ranveer Singh starrer, ‘83’. The new ad film draws parallels between the all-rounder team that won the 1983 World Cup, and the winning combination of potato and masala that is the new Sunfeast All Rounder potato biscuit.
For Ali Harris Shere, chief operating officer, biscuits and cakes cluster, foods division, ITC Limited, ’83 reminds people of an iconic event that is deeply entrenched in the collective memory of Indians. “The World Cup victory was a turning point for India’s sporting culture and played a pivotal role in shaping the cricket landscape in the nation. The movie celebrates the mix of drive, conviction and competence that made the Indian cricket team of ‘83 the greatest all-rounders of all times. Sunfeast All Rounder, as a brand, resonates with these core values and reaches out to billions of cricket enthusiasts and film fanatics to celebrate the all-rounders this season,” he added.
The co-branded TV commercial acknowledges the ‘Greatest All Rounders’ of all times and his winning spirit which led to India winning its first World Cup title. Creating an analogy between sports and snacking product, the 20 second ad film opens with a scene from the movie trailer highlighting the confidence and passion of a cricket player who steps out onto the ground not just to play but to win. It underlines how the perfect blend of the quest to win and extraordinary skills makes a player a true all-rounder. Building on the same thought, the ad film then showcases how Sunfeast All Rounder is also an all-rounder in a similar vein. The ad film concludes with the co-branded visual of Sunfeast All Rounder and the all-rounder team of ’83, encouraging the audience to celebrate the greatest all-rounders this season.
83’s concept is in line with the core brand proposition of celebrating the All-Rounders, Sameer Chopra, head of marketing, Reliance Entertainment said. “We are looking forward to collaborate with Sunfeast All Rounder and launch a campaign that resonates seamlessly with both the movie and the brand. We hope the latest TVC helps us reach out to a wider audience and together we can help the nation relive the story of that momentous triumph,” he highlighted.
The new TVC went live on December 24 and will be promoted across platforms including social media, TV and YouTube to strengthen the brand’s visibility and bring the brand closer to its consumers.
Follow us on Twitter, Instagram, LinkedIn, Facebook
from The Financial Express https://ift.tt/3JkOSbZ
As Traffic Roars Back, Neighborhoods Outside Manhattan Feel the Pain
By BY WINNIE HU, PATRICK MCGEEHAN AND NATE SCHWEBER from NYT New York https://ift.tt/3EAuRdE
‘Come to me only if corruption amount is over Rs 15 lakh’: BJP MP
from The Indian Express https://ift.tt/3JghRxs
Tech Mahindra, MTNL among stocks to hit 52-week high, 12 scrips at fresh lows
Bulls maintained control on Dalal Street on the back of positive global cues. Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading with gains on Tuesday with Sensex hovering around 57,800, and Nifty 50 above 17,200 levels. While HCL Tech, Asian Paints, PowerGrid Corporation of India, Axis Bank, RIL, Tech Mahindra were among top BSE Sensex gainers, Dr Reddy’s Laboratories, Bharti Airtel were the only laggards on the index. A total of 341 stocks hit 52-week high on BSE while 12 scrips were at fresh lows.
Stocks that hit 52-week high and low on BSE
Tech Mahindra stock rallied to 52-week high of Rs 1,819.25 breaking previous high of Rs 1,791.95, touched on Monday. The stock is still trading 39.3% down from all-time high of Rs 2,998, hit on 2 February 2015. Another 340 stocks touched 52-week high on Tuesday. Meanwhile, Data Patterns, Janus Corporation, Supriya Lifescience, Jyothy Lab, Medplus were among that 12 scrips on BSE that hit 52-week low in Tuesday’s trading session.
Stocks that hit 52-week high and low on NSE
Foce India Ltd., Supriya Lifescience Ltd., Shiva Mills, MPS Infotecnics and Smartlink Holdings stocks hit their fresh 52-week highs today on the National Stock Exchange (NSE). On the other hand, Jyothy Labs, Vikas Multicorp(PP)and DCM Shriram Ind and others were among the stocks that touched their 52-week lows on NSE in Tuesday’s session. In the Nifty 50 index, Eicher Motors, Asian Paints, L&T, Grasim Inds. and UltraTech Cem. were among the top gainers on the NSE while IndusInd Bank, Dr. Reddys, ICICI Bank, Power Grid and Kotak Bank were among the top losers.
Stocks to surge over 15% on BSE
Several stocks surged over 15% on BSE in trading on Tuesday. Supriya Lifescience Ltd (up 46.92%), Shiva Mills (up 20.0%), Metal Coatings (up 20.0%), Uniphos Enter (up 19.98%), Solitaire Mach (up 19.96%), Atam Valves (up 19.57%), Nahar Poly Film (up 17.98%) and Alphageo (up 16.09%) were among the stocks that surged over 15% on the Bombay Stock Exchange.
from The Financial Express https://ift.tt/3qwl6YZ
Watch: Sonia Gandhi unfurls party flag on Congress foundation day, it falls into her hands
The Congress tricolour fell off the flagpole on Tuesday morning as party’s interim president Sonia Gandhi tried to unfurl it on the occasion of 137th foundation day of the Congress at the AICC headquarters in Delhi.
In the video of the incident, Gandhi can be seen trying to pull the flag to unfurl it while she is being assisted by a party member. The flag fell into Gandhi’s hands as hundreds of party leaders and workers watched.
Unable to put the flag back on the flagpole, Gandhi along with party treasurer Pawan Bansal and AICC general secretary KC Venugopal held the party tricolour in their hand and displayed it briefly. The flag pole was later replaced and the party flag was hoisted again.
Senior Congress leaders Rahul Gandhi, Priyanka Gandhi Vadra, Mallikarjun Kharge were among those present at the party headquarters.
In a video message shared on Twitter, Gandhi asked members to rededicate themselves to the principles of the organisation. “Today, we rededicate ourselves to the ideals, values & principles of our organisation that has been shaped, guided and inspired by some of the greatest, noblest and most selfless of Indians of the 20th Century,” she said.
“Divisive ideologies anchored in hate and prejudice and which had no role whatsoever to play in our freedom movement now causing havoc on the secular fabric of our society,” Gandhi said in the video address.
“They’re rewriting history to give themselves a role they don’t deserve. The finest traditions of our parliamentary democracy are being deliberately damaged. Congress will fight these destructive forces,” she added.
from The Financial Express https://ift.tt/3mYyZyv
La vez que el arzobispo Tutu fue cateado en el aeropuerto
By BY ALAN COWELL from NYT en Español https://ift.tt/3mYGky3
Monday, 27 December 2021
Spelling Bee Forum
By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Crosswords & Games https://ift.tt/3qw12Gt
EV sales have more than tripled in the first half of FY22 — Abhijeet Wassan, Mac Auto
In recent times, Electric vehicles have seen popularity, both in terms of sales and manufacturing. Keeping in line with India’s mission to achieve clean mobility, auto manufacturers in various segments have their take on electric mobility. Two and three-wheeler segments have seen rapid growth, and within the three-wheeler segment, there are several manufacturers. One such brand is Mac Auto, an electric rickshaw manufacturer.
Founded in 2014 after seeing several electric rickshaws being imported from China and noticing quality and standardisation issues, Abhijeet Wassan – Founder and Director of Mac Auto – decided to manufacture e-rickshaws indigenously. Having started production in 2015, almost 70% of the electric three-wheelers were made indigenously, and later in 2016, the company got its ICAT approval. In its first year of operation, Mac Auto had 45 dealers, however, by 2018, the company ramped up its reach with 165 dealers.
To understand more about Mac Auto, Express Mobility reached out to Abhijeet to know about the company’s current path and its plans for the future. Abhijeet, explaining the amount of localisation said, “In the three-wheeler segment, the dependency of product sourcing and manufacturing is 90% locally. The rest of the components are imported from China, primarily the power train and drive train.” In the last year, Mac Auto started its own R&D and built an electric rickshaw and a cart, which have a life span of almost five years.
Abhijeet added, “the Electric Vehicle Market is surging significantly and is expected to grow to 15 million units by 2025. Decreasing battery costs (expected to drop by half), combined with a host of technological features, will contribute towards rising electric vehicle sales. Also, government subsidies are helping generate good traction in EV sales, which created high competition in the EV marketplace.”
Speaking of how the perception of EVs can be improved to improve sales, the Founder said, “The sale of electric vehicles in India was lower until the base of the industry was not as deep-rooted as today. In the past five years, a lot has changed about adopting clean energy solutions and contributing towards building a sustainable planet. Electric vehicles are, no doubt, a feasible energy solution to the country’s dependency on oil resources. They are economic, environmentally friendly, and easy to ride that meets many practical needs of the present environment.”
He added, “Gradually, the Indian EV industry has started acknowledging the benefits of electric vehicles. In addition, it appears to have taken the crucial steps to drive the sector’s sales, including customer outreach, better pricing for electric battery packs and strengthening the charging infrastructure. This has led to a significant rise in sales of Electric vehicles positioning them as a necessity in the auto sector. According to the stats- EV sales have more than tripled in the first half of FY22, reaching 1.18 lakh units, dipping the sales of ICE (internal combustion engine) cars.”
Mac Auto’s growth has been a success story — from making ₹6 million revenue in the very first year to ₹890 million in 2020. Having started in Delhi, the company now has its presence in 125 cities and is looking to expand to 300 cities in the next two years. Mac Auto is looking to expand by venturing out to building low-speed electric two-wheelers and high-speed electric three-wheelers with the latest technologies while also building a network of charging stations.
Mac Auto has plans to launch a high-speed L5N electric three-wheeler during the first quarter of 2022. The company is also looking at expanding its portfolio by launching low-speed electric mopeds, scooters and cycles, focused on the cargo delivery segment. Meanwhile, Mac Auto is indigenously developing Lithium-ion battery technology.
from The Financial Express https://ift.tt/3pvcHpG
Cannot imprison my thoughts: Rahul quotes Mahatma Gandhi after derogatory remarks at Raipur ‘Dharm Sansad’
Slamming the remarks made against Mahatma Gandhi at a function in Raipur, Congress leader Rahul Gandhi on Monday quoted the Father of the Nation that his thoughts cannot be imprisoned.
The Wayanad Lok Sabha member’s remarks came after a section of Hindu religious leaders sang paeans to Nathuram Godse, the assassin of Mahatma Gandhi, at a religious congregation in Raipur on Sunday.
“You can chain me, torture me, you can destroy this body, but you cannot imprison my thoughts,” the former Congress President said quoting the Mahatma.
During the conclusion of the two-day ‘dharma sansad’ at Ravan Bhata ground in Raipur, Hindu religious leader Kalicharan Maharaj had used an “abusive” word against the Father of the Nation and asked people to elect a staunch Hindu leader as the head of the government in order to protect the religion. Earlier, Yati Narsinghananda Giri had praised Godse as the symbol of truth and religion.
from The Financial Express https://ift.tt/32kUK4p
‘Help Us’: After Typhoon Rai, Miles of Destruction and the Smell of Death
By Unknown Author from NYT World https://ift.tt/32CDVkW
Jean-Marc Vallée, Director of ‘Dallas Buyers Club’ and ‘Big Little Lies,’ Dies at 58
By BY LIVIA ALBECK-RIPKA from NYT Movies https://ift.tt/32kQBxn
Sunday, 26 December 2021
Salman Khan discharged from hospital after non-venomous snake bite, doing well
Bollywood Superstar Salman Khan on Sunday was discharged from a hospital after he was bitten by a non-venomous snake at his farmhouse near Panvel in adjoining Raigad district, sources said.
According to sources, the snake bit Khan’s hand on Saturday night, following which he was taken to a hospital at Kamothe in Navi Mumbai.
The actor was discharged on Sunday morning.
“Salman was bitten last night and taken to a hospital. He was discharged after six hours. He is back home and well,” sources close to the actor said.
Khan is back to his Panvel farmhouse, where he will be ringing in his 56th birthday on Monday.
He was recently seen on the big screen in “Antim: The Final Truth”, which released last month.
from The Financial Express https://ift.tt/3qklEkK
Host of changes in GST law to come into effect from Jan 1
The GST regime will see a host of tax rate and procedural changes coming into effect from January 1, including liability on e-commerce operators to pay tax on services provided through them by way of passenger transport or restaurant services.
Also, the correction in inverted duty structure in footwear and textile sectors would come into effect from Saturday wherein all footwear, irrespective of prices, will attract GST at 12 per cent while all textile products, except cotton, including readymade garments will have 12 per cent GST.
While the passenger transport services provided by auto rickshaw drivers through offline/ manual mode would continue to be exempt, such services when provided through any e-commerce platform would become taxable effective January 1, 2022, at 5 per cent rate.
The procedural changes that would come into effect include e-commerce operators, such as Swiggy and Zomato, being made liable to collect and deposit GST with the government on restaurant services supplied through them from January 1. They would also be required to issue invoices in respect of such services.
There would be no extra tax burden on the end consumer as currently restaurants are collecting and depositing GST. Only, the compliance of deposit and invoice raising has now been shifted to food delivery platforms.
The move comes after government estimates showed that tax loss to exchequer due to alleged underreporting by food delivery aggregators is Rs 2,000 over the past two years.
Making these platforms liable for GST deposit would curb tax evasion.
The other anti-evasion measures which would come into effect from the new year include mandatory Aadhaar authentication for claiming GST refund, blocking of the facility of GSTR-1 filing in cases where the business has not paid taxes and filed GSTR-3B in the immediate previous month.
Currently, the law restricts filing of return for outward supplies or GSTR-1 in case a business fails to file GSTR-3B of preceding two months.
While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B, through which businesses pay taxes, is filed in a staggered manner between 20th-24th day of the succeeding month.
Also the GST law has been amended to allow GST officers to visit premises to recover tax dues without any prior show-cause notice, in cases where taxes paid in GSTR-3B is lower based on suppressed sales volume, as compared to supply details given in GSTR-1.
The move would help curb the menace of fake billing whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability.
from The Financial Express https://ift.tt/3pqXDJn
No data on MSMEs covered by insurance maintained with IRDAI: FinMin
Ease of Doing Business for MSMEs: The government doesn’t have data to gauge the insurance penetration in India’s vast MSME sector. Even as the steps have been announced to improve insurance coverage for risk management in the MSME sector, “The Insurance Regulatory and Development Authority of India (IRDAI) has informed that data on the number of businesses under the MSME sector that are covered by insurance is not maintained by it,” Minister of State for Finance Ministry Bhagwat Karad said in a written reply to a question in Rajya Sabha.
“With effect from April 1, 2021, IRDAI had introduced two standard insurance products suitable for the MSME sector (Bharat Sookshma Udyam Suraksha and Bharat Laghu Udyam Suraksha), which cover fire and other perils including natural catastrophes, riots and strikes, and which have policyholder-friendly features and simple policy wordings,” the minister said. Moreover, a regulatory framework has been put in place to encourage new distribution channels for insurance, such as banks and other corporate agents, point-of-salespersons and common service centres to improve access to insurance, according to the information shared.
Subscribe to Financial Express SME newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises
IRDAI had revised the guidelines for trade credit insurance, which came into effect from November 1, 2021, to enable general insurance companies to offer insurance with customised covers to improve businesses for MSMEs, considering their evolving insurance risk needs. It covered commercial risks such as insolvency or protracted defaults of the buyer, bank responsible for payment in case of Letter of Credit transactions, and stock holding agent in case of consignment transactions. The cover also included coverage against rejection by the buyer after delivery (of goods) subject to conditions of contract, before shipment where the goods are manufactured or being manufactured exclusively as per the requirements of the buyer and cannot be sold elsewhere; and non-receipt of payment on account of collecting bank’s failure.
The government doesn’t maintain data on job losses as well in the MSME sector along with the information on the closure of MSME units during Covid. The data is not ‘maintained’ by the government “as MSMEs are present in both formal and informal sector,” MSME Minister Narayan Rane had said last month in Parliament in response to a question on job cuts among MSMEs due to the pandemic. The same reason was cited by the former MSME Minister Nitin Gadkari in the Budget session of Parliament this year for no data on shutdowns in the MSME sector due to Covid.
from The Financial Express https://ift.tt/3epg5vR
Desmond Tutu, South African equality activist, dies at 90
Desmond Tutu, South Africa’s Nobel Peace Prize-winning activist for racial justice and LGBT rights and retired Anglican Archbishop of Cape Town, has died, South African President Cyril Ramaphosa announced Sunday. He was 90.
An uncompromising foe of apartheid — South Africa’s brutal regime of oppression against the Black majority — Tutu worked tirelessly, though non-violently, for its downfall.
The buoyant, blunt-spoken clergyman used his pulpit as the first Black bishop of Johannesburg and later Archbishop of Cape Town as well as frequent public demonstrations to galvanize public opinion against racial inequity both at home and globally.
Tutu’s death on Sunday “is another chapter of bereavement in our nation’s farewell to a generation of outstanding South Africans who have bequeathed us a liberated South Africa,” Ramaphosa said in a statement.
“From the pavements of resistance in South Africa to the pulpits of the world’s great cathedrals and places of worship, and the prestigious setting of the Nobel Peace Prize ceremony, the Arch distinguished himself as a non-sectarian, inclusive champion of universal human rights.” Tutu had been hospitalized several times since 2015, after being diagnosed with prostate cancer in 1997. In recent years he and his wife, Leah, lived in a retirement community outside Cape Town.
Throughout the 1980s — when South Africa was gripped by anti-apartheid violence and a state of emergency giving police and the military sweeping powers — Tutu was one of the most prominent Blacks able to speak out against abuses.
A lively wit lightened Tutu’s hard-hitting messages and warmed otherwise grim protests, funerals and marches. Short, plucky, tenacious, he was a formidable force, and apartheid leaders learned not to discount his canny talent for quoting apt scriptures to harness righteous support for change.
The Nobel Peace Prize in 1984 highlighted his stature as one of the world’s most effective champions for human rights, a responsibility he took seriously for the rest of his life.
With the end of apartheid and South Africa’s first democratic elections in 1994, Tutu celebrated the country’s multi-racial society, calling it a “rainbow nation,” a phrase that captured the heady optimism of the moment.
Nicknamed “the Arch,” Tutu was diminutive, with an impish sense of humor, but became a towering figure in his nation’s history, comparable to fellow Nobel laureate Nelson Mandela, a prisoner during white rule who became South Africa’s first Black president. Tutu and Mandela shared a commitment to building a better, more equal South Africa.
In 1990, after 27 years in prison, Mandela spent his first night of freedom at Tutu’s residence in Cape Town. Later, Mandela called Tutu “the people’s archbishop.” Upon becoming president in 1994, Mandela appointed Tutu to be chairman of the Truth and Reconciliation Commission, which uncovered the abuses of the apartheid system.
Tutu campaigned internationally for human rights, especially LGBT rights and same-sex marriage.
“I would not worship a God who is homophobic and that is how deeply I feel about this,” he said in 2013, launching a campaign for LGBT rights in Cape Town.
“I would refuse to go to a homophobic heaven. No, I would say, Sorry, I would much rather go to the other place.’” Tutu said he was “as passionate about this campaign (for LGBT rights) as I ever was about apartheid. For me, it is at the same level.” He was one of the most prominent religious leaders to advocate LGBT rights. Tutu’s very public stance for LGBT rights put him at odds with many in South Africa and across the continent as well as within the Anglican church.
South Africa, Tutu said, was a “rainbow” nation of promise for racial reconciliation and equality, even though he grew disillusioned with the African National Congress, the anti-apartheid movement that became the ruling party in 1994 elections. His outspoken remarks long after apartheid sometimes angered partisans who accused him of being biased or out of touch.
Tutu was particularly incensed by the South African government’s refusal to grant a visa to the Dalai Lama, preventing the Tibetan spiritual leader from attending Tutu’s 80th birthday celebration as well as a planned gathering of Nobel laureates in Cape Town.
South Africa rejected Tutu’s accusations that it was bowing to pressure from China, a major trading partner.
Early in 2016, Tutu defended the reconciliation policy that ended white minority rule amid increasing frustration among some South Africans who felt they had not seen the expected economic opportunities and other benefits since apartheid ended.
Tutu had chaired the Truth and Reconciliation Commission that investigated atrocities under apartheid and granted amnesty to some perpetrators, but some people believe more former white officials should have been prosecuted.
Desmond Mpilo Tutu was born Oct. 7, 1931, in Klerksdorp, west of Johannesburg, and became a teacher before entering St. Peter’s Theological College in Rosetenville in 1958 for training as a priest.
He was ordained in 1961 and six years later became chaplain at the University of Fort Hare. Moves to the tiny southern African kingdom of Lesotho and to Britain followed, with Tutu returning home in 1975.
He became bishop of Lesotho, chairman of the South African Council of Churches and, in 1985 the first Black Anglican bishop of Johannesburg and then in 1986, the first Black archbishop of Cape Town. He ordained women priests and promoted gay priests.
Tutu was arrested in 1980 for taking part in a protest and later had his passport confiscated for the first time. He got it back for trips to the United States and Europe, where he held talks with the U.N. secretary-general, the pope and other church leaders.
Tutu called for international sanctions against South Africa and talks to end the conflict.
Tutu often conducted funeral services after the massacres that marked the negotiating period of 1990-1994. He railed against black-on-black political violence, asking crowds, “Why are we doing this to ourselves?” In one powerful moment, Tutu defused the rage of thousands of mourners in a township soccer stadium after the Boipatong massacre of 42 people in 1992, leading the crowd in chants proclaiming their love of God and themselves.
After Mandela became president in 1994, he asked Tutu to head the truth commission to promote racial reconciliation. The panel listened to harrowing testimony about torture, killings and other atrocities during apartheid. At some hearings, Tutu wept openly.
“Without forgiveness, there is no future,” he said at the time. The commission’s 1998 report lay most of the blame on the forces of apartheid, but also found the African National Congress guilty of human rights violations.
The ANC sued to block the document’s release, earning a rebuke from Tutu. “I didn’t struggle in order to remove one set of those who thought they were tin gods to replace them with others who are tempted to think they are,” Tutu said.
In July 2015, Tutu renewed his 1955 wedding vows with wife Leah. The Tutus’ four children and other relatives surrounded the elderly couple in a church ceremony. “You can see that we followed the biblical injunction: We multiplied and we’re fruitful,” Tutu told the congregation.
“But all of us here want to say thank you … We knew that without you, we are nothing.” Asked once how he wanted to be remembered, he told The Associated Press: “He loved. He laughed. He cried. He was forgiven. He forgave. Greatly privileged.”
from The Financial Express https://ift.tt/3HsDJEn
Amway looks to enhance exports of herbal, Ayurvedic products to South East Asian nations
Direct selling major Amway is looking to enhance exports of herbal and Ayurveda-based products from India to South East Asian nations, according to company global CEO Milind Pant.
The company is also working to develop new products and innovate in the areas of preventive health, nutrition and wellness to offer items in broader food and beverages formats and not just as tablets as it has done in the past and build on partnerships like it has with FMCG major ITC.
The company had planned to export from its manufacturing plant near Madurai in Tamil Nadu, where it has invested Rs 600 crore.
“It has started exporting now to South East Asian nations. We have started even exporting Glister herbal toothpaste to Indonesia and we are looking at Thailand and other countries for that,” Pant told PTI.
Stating that it has been a good start, he added, “We have a lot to do and I think all the work that is happening both on manufacturing and our backward integration, and all the investments we’ve made thus far, the innovation that is taking place in herbals and Ayurveda, has the potential especially for Southeast Asia first and then of course, other parts of the world.” When asked how big the exports from India could be, Pant said, “We have made a good start now. We’ve done this in the middle of supply chain disruptions on inbound ingredients, manufacturing safety, outbound logistics, the team has done heroic work, making this start.
“I’m confident that with the high quality standards, the innovation taking care of products, this will only go up. It is difficult to say and put a number to it today.” He further said, “I’m very encouraged by the response we’re getting from our Asian markets in Amway to the number of products that are now getting exported out of India.” When asked if Amway planned to widen its product offerings, he said, “Yes it’s going to be in the area of preventive health, nutrition and wellness.” Elaborating, Pant said, “What we’ll be doing is we are taking our nutrition and botanicals know-how and using (it in) a new product format, for example we are moving into gummies, in addition to the work that’s happening and Ayurveda. So, we continue to innovate.” The idea behind the innovation is to offer the products in normally consumed formats and not as tablets.
Citing Amway’s partnership with ITC, Pant said, “We’ve taken some of them to beverages, and we’re looking at these partnerships to continue to innovate, and the entire basis will always be how can you provide higher nutrition, not just to tablets, as we’ve done in the past, but in formats that are broader food and beverages.” Those innovations are what the team is working on both on its own as well as its partnership with companies like ITC, he added.
Stating that there is a “massive potential” for such products as many of the consumers are unable to have good nutrition due to the modern day lifestyle, he said, “So supplementation in some form is required.” Amway is using science and R&D to see “how we can provide efficacy in formats that go beyond tablets so that you can get higher penetration and higher usage and higher adoption of a healthy nutrition, lifestyle and supplementation.”
from The Financial Express https://ift.tt/32xJgtW
For This College Basketball Team, It Pays to Hit the Road
By BY JERÉ LONGMAN AND CHAD RHYM from NYT Sports https://ift.tt/3EsOfJJ
A Promising Stance of AI-Driven Ecommerce and More: Top Ecommerce Trends to Watch Out For In 2022
In the current business environment, the eCommerce industry is thriving. Aiming at becoming a multi-trillion dollar market in the coming years, the eCommerce industry growth momentum is not slowing down anytime soon.
In India, the eCommerce industry growth has been specifically remarkable. Many brands like Meesho, good Glamm group, Nykaa and others have come forward as strong players. With the pandemic taking form and internet connectivity reaching the most remote regions of India, people are now more inclined to order everything online than having to go out and shop.
There are a lot of trends that have shaped the eCommerce industry growth this year. Next year, there will be some key trends to watch out for to make a mark stronger in this industry.
Let’s take a look at some key eCommerce trends for 2022.
AI and ML Applications Will Rise
We are already seeing the rise of Artificial intelligence applications across all industries. Machine learning is almost everywhere and it is no surprise that it is making its way further into the eCommerce sector.
2022 will see advanced applications of AI and ML-enabled algorithms in the eCommerce space. Understanding customer behavioural patterns, adapting to that understanding and forecasting their move across the shopping funnel will upgrade and evolve in the eCommerce sector.
Tier 4 Cities, Towns And Villages Will See a Boost
In 2022, a lot of orders will be received from the customers residing in Tier 4 towns, cities and villages of India.
As internet, logistics infrastructure continue to improve in India, this section will emerge as one of the strongest contributors to the growth of the eCommerce industry.
Spanning across fashion, wellness, beauty, electronics and FMCG goods, online ordering from small and remote locations of India will continue to rise further.
Moreover, trends also show that these tier 4 shoppers are more likely to prefer Cash on Delivery over other payment methods. As a result, CoD will form the majority of Tier 4 orders.
D2C Will Continue to See a High-Velocity Grow
Customers in 2022 will become further inclined to the D2C eCommerce space. As the D2C space is seeing a hyper-growth, it will further rise next year as more brand loyalists will prefer to shop from the brand’s website independently.
These days, the customers are more aware and want to understand what the brand is about and what it stands for. They also want to have a complete brand experience tailor-made just for them.
Moreover, a lot of D2C brands are constantly upgrading their checkout and payment experience and making it more user-centric. This will again enable the customers to be attracted to brands that are offering a seamless shopping experience. As a result, we can further see a high-velocity D2C growth.
Cash on Delivery Orders Will Still Have a Significant Share
Though digital payments have made a significant mark in the eCommerce space, cash on delivery will continue to stay significant.
India though has digitalised immensely, still remains majorly cash-driven. As a result, a lot of orders that the eCommerce brands receive are also cash on delivery orders.
Past trends have always shown that even if cash flow sometimes takes a dip, it always bounces back. Hence, cash on delivery will also continue to be significantly impactful in the eCommerce space.
Social and Content Commerce will Become Further Prominent
Social commerce has begun to leave imprints in the eCommerce space. A lot of D2C eCommerce brands now offer the ease of shopping directly from Instagram or Facebook to their users.
This wave will continue to intensify and will be further backed by content commerce. Brands will not be solely dependent on traffic generated on their websites.
They will combine the power of creativity, content and commerce together to bring a seamless shopping experience for customers who will be consuming their content.
For instance, a user seeing a brand’s reel on Instagram will be able to directly shop through that channel without having to go to the brand’s website. This will give the customers a brand and shopping experience they prefer.
(The author Chirag Taneja is CEO and co-founder of GoKwik Commerce Solutions Pvt Ltd. All views expressed are personal and not necessarily that of FinancialExpress.com.)
from The Financial Express https://ift.tt/3qsIcj9
The Best Metropolitan Diary Item of 2021: The Readers Speak
By Unknown Author from NYT New York https://ift.tt/3prHwLE
Huawei launches new smart glasses powered by Harmony OS
from The Indian Express https://ift.tt/3H9Bh5m
Saturday, 25 December 2021
Minister Harak Singh Rawat threatens to resign in fresh headache for BJP in Uttarakhand
from The Indian Express https://ift.tt/32BpcGX
India-South Africa ties grow stronger in 2021 despite COVID crisis
South Africa and India ramped up their political and trade ties in 2021 and the coronavirus crisis presented an opportunity to the two countries to extend cooperation in fighting the deadly pandemic.
South Africa, like most of the rest of the world, started and ended 2021 with serious COVID-19 issues, with the pandemic looking set to dominate for a third year in a row in 2022.
In January, South Africa was in the midst of its second wave and as the year was drawing to a close, a fourth wave hit the country following the discovery of the new and highly transmissible Omicron variant in November.
In February, Prime Minister Narendra Modi had a telephone conversation with South African President Cyril Ramaphosa and they discussed the continuing challenges posed by the COVID-19 pandemic.
The two leaders also discussed possibilities of collaboration between India and South Africa in various international platforms, to facilitate access and affordability of vaccines and medicines.
Prime Minister Modi reiterated to the South African President that India’s considerable productive capacity for pharmaceuticals and vaccines would continue to serve the needs of all countries, including those in Africa.
A week before the two leaders’ conversation, made-in-India vaccines had reached South Africa in an aircraft with President Ramaphosa receiving the consignment of doses.
The current wave of the pandemic did not spare President Ramaphosa, who had to isolate himself after getting infected, forcing him to hand over his duties to Deputy President David Mabuza.
Just days before he felt ill, Ramaphosa asked the scientists of the BRICS countries to work together in developing solutions for the pandemic.
“The collaboration among BRICS countries is intended to broaden our knowledge of the COVID-19 virus not only for the benefit of member countries but for the global community more broadly,” Ramaphosa said.
Amid rapidly changing travel bans, Ramaphosa said during his State of the Nation address in February that India was one of the countries that South Africa was looking to as it sought to import skills and boost tourism in the wake of the economic crisis caused by the COVID-19 pandemic.
The economic slump caused by COVID-19 failed to deter Indian businesses from scaling up their production and expanding commercial footprint in South Africa.
India was the top country of origin for vehicle imports into South Africa despite the lengthy COVID-19 lockdowns and overall declines in vehicle sales in 2020, according to the 2021 Automotive Export Manual report released by the Automotive Industry Export Council.
ArcelorMittal South Africa (AMSA), a subsidiary of London-based Indian steel magnate Lakshmi Mittal’s Global steel giant ArcelorMittal, bounced back from a loss of 632 million rands (USD 39.6 million) in 2019 into a profit of 37 million rands (USD 2.3 million) for the previous fiscal year.
Mahindra further entrenched its position in the South African market with a massive investment in skills training in southern Africa by opening a bigger training centre, effectively doubling its capacity. The company also opened a new national parts warehouse larger than its old facility.
“South Africa is the regional hub for Mahindra and the brand’s second home outside of India. We will continue to support all levels of skill development to support the growing demand for Mahindra vehicles and the planned expansion on the continent,” said Rajesh Gupta, CEO of Mahindra South Africa.
Vedanta Zinc International started a new iron ore product line by ramping up iron ore production at its Black Mountain Mine (BMM) operations in Aggeneys in the Northern Cape province of South Africa. On the domestic front, South Africa saw arson attacks in mid-July following the jailing of former president Jacob Zuma.
Protests erupted in parts of KwaZulu-Natal (KZN), Zuma’s home province, after the ex-leader handed himself over to police to serve a 15-month jail term for contempt of court.
A number of Hindu organisations across the African continent rallied to the call from India for assistance during its oxygen concentrator crisis.
“This unparalleled crisis has brought us all together to collaborate in order to help our fellow Indians back home. It’s a very small gesture from us but would hopefully help in saving lives,” said John Francis, Event Director of India Club, who oversaw the entire operation.
The Indian missions across South Africa launched scaled-down celebrations of India’s 75th anniversary of independence this year, with lockdown restrictions reducing numbers.
A major event was a project called ‘On the Gandhian Trail’, which took two busloads of people across seven towns where there are commemorative museums and busts marking Mahatma Gandhi’s two-decade fight against discrimination during his South African stay.
Among the places visited was the Phoenix Settlement started by Gandhi, where his granddaughter Ela Gandhi heads up a developmental centre.
The Settlement, surrounded by three largely Black townships, remained unaffected by the rampant violence and looting in the townships surrounding it in July.
Tensions between the local Black and Indian communities resulted in Ela Gandhi calling for India to help South Africa in its efforts to rebuild the country during an online seminar organised by the Indian missions in South Africa to mark Independence Day.
In the wake of the local government elections in South Africa, the Indian missions in Pretoria and Johannesburg organised a seminar titled ‘Story of World’s Largest Democracy’s Elections’.
Glen Mashinini, the chairperson of the Independent Electoral Commission of South Africa, lauded the work of the Election Commission of India (ECI) as an example for the entire world.
“The ECI provides the fountain of knowledge, understanding, and experience for all of us as electoral management bodies that are serving throughout the world,” Mashinini said.
from The Financial Express https://ift.tt/3qHhC6n
Falling in Love
By BY ELIZABETH BRISTOW, EVE LYONS, AMANDA WEBSTER AND STELLA BUGBEE from NYT Style https://ift.tt/3eob46K
It could take 12 hours of walking to burn off your Christmas dinner
from The Indian Express https://ift.tt/341hJlz
Omicron in Mumbai : BMC bans all New Year celebrations in hotels, pubs, bars, privately owned places, check details
COVID-19: In the wake of rising threat of the Omicron variant, the Brihanmumbai Municipal Corporation (BMC) has banned the celebrations of New Year across the city. The municipal body has taken the major step in a bid to contain the spread of Coronavirus infection. Earlier, the Delhi government in a similar decision had banned the Christmas and New Year celebrations in the national capital to prevent the rise of Coronavirus cases.
It is pertinent to note that the BMC in its detailed order has clearly mentioned that no party or celebrations on the occasion of New Year will be allowed either in open or closed spaces. The detailed order issued by the BMC was signed by Mumbai Municipal Commissioner Iqbal Singh Chahal on Friday evening.
As per the written order, the restrictions on celebrations will come into effect from the midnight of December 25 and remain in force till the next directive is issued by the authorities. In a bid to avoid any confusion and leave any loopholes in the order, the BMC has said that the restrictions are to be imposed on all hotels, bars, restaurants as well as privately-owned places that could be utilised to organise the New Year celebrations.
Earlier, the state government of Maharashtra had banned the gathering of more than five persons at a public place between 9 pm and 6 am effectively banning all gatherings of political or social cause. However, the latest order released by the BMC explicitly prohibits the New Year celebrations. The state which has bore the maximum brunt during the Coronavirus pandemic reported a total of 14`10 new Coronavirus cases in addition to the 20 new Omicron cases tracked on the same day.
On Friday, the central government in its health bulletin warned the populace of a probable third wave of infection in the country. The Health Ministry said that the world is grappling with the fourth wave of Coronavirus infections and there is an indispensable need to take maximum precautions and steps to curb the spread of the pandemic.
from The Financial Express https://ift.tt/3mzrJc5
Spelling Bee Forum
By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Crosswords & Games https://ift.tt/3HeBV1g
Friday, 24 December 2021
Ómicron apenas va llegando y los estadounidenses ya están hartos
By BY PATRICIA MAZZEI from NYT en Español https://ift.tt/3qm4ymH
Ketaki Mategaonkar turns music director with her debut album ‘Mai’
from The Indian Express https://ift.tt/3z2E8Kv
Booster dose of Covishield is able to protect from Omicron variant, finds Oxford University research
Offering a glimpse of hope, a study at the Oxford University has found that a booster dose of the Coronavirus vaccine developed by AstraZeneca is successful in increasing the levels of antibodies against the new variant of coronavirus Omicron. The vaccine which was developed by pharma major AstraZeneca and Oxford University is being manufactured by Serum Institute of India and sold as Covishield in India. The same vaccine has been marketed and sold as Vaxzevria in South Korea. The study conducted at the Oxford University has offered hope that a booster dose of the AstraZeneca vaccine can control the viral spread of the disease on the back of its new variant Omicron, the Indian Express reported.
As per the results of the study, the individuals who had received the booster dose of the AstraZeneca vaccine were able to neutralise the Omicron variant one month after being jabbed the booster dose. The level of protection offered by the booster dose was comparable to the protection provided by the second dose of the vaccine against the Delta variant one month after the administration of the vaccine. The study further said that the levels of antibodies against the Omicron variant were found to be even higher among individuals who have previously contracted the disease and recovered on their own.
Similar studies conducted by other pharma giants like Moderna and Pfizer have also shown that the third dose is able to offer some level of protection against the Omicron variant. Even as the latest study has shown that the booster dose of the vaccine is effective in preventing the spread of the Omicron variant, the company at the same time has disclosed that it is working to develop a new vaccine designed to counter the Omicron variant.
In a related development, several countries have started vaccinating children below 12 years of age in view of the threat of the Omicron variant. Experts have highlighted that the population of children remains extremely vulnerable to the Omicron variant as a large proportion of the adult population has been vaccinated. While France has decided to vaccinate children above five years of age, Germany, Greece, Spain and the United States have also opened up vaccination for children to counter the rising spread of the Omicron variant.
Amid a rapid surge in infections with the Omicron variant, several countries in Europe have begun vaccinating children below 12 years of age. In most of the world, only people above the age of 18 have been vaccinated because of the very low prevalence of coronavirus cases in younger age groups. A few countries later opened up vaccinations for the 12-18 age group as well.
from The Financial Express https://ift.tt/3Flc07L
Spelling Bee Forum
By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Crosswords & Games https://ift.tt/3ErbfsD
Chennai Metro to issue travel cards through authorised agents
from The Indian Express https://ift.tt/3yY2SU1
Covid-19: How will Pfizer’s oral antiviral treatment drug Paxlovid come to India?
On Wednesday, Pfizer received the US Food & Drug Administration’s emergency-use authorisation for Paxlovid, its Covid-19 antiviral treatment. The treatment can be used in both high-risk adults and paediatric patients over 12 years and weighing at least 40 kg. The development is likely to result in several Indian manufacturers beginning generic production of the anti-viral pill.
What is Paxlovid?
PF-07321332, Pfizer’s antiviral Covid-19 treatment candidate, is administered in combination with a low dose of HIV medicine Ritonavir.
On Wednesday, the US pharma giant received emergency-use authorisation based on clinical data that showed it reduced risk of hospitalisation or death by 89% within three days of the symptoms’ onset and 88% within five days of onset when compared to the placebo group.
Significantly, the European Medicines Agency issued an advisory that Paxlovid could treat adults with Covid-19 who did not require supplemental oxygen supply and who were at increased risk of progressing to severe disease.
Indian companies manufacturing Pfizer’s drug
Several Indian drug manufacturers are chalking out plans to manufacture Paxlovid’s generic version. Indian pharma giants Sun Pharmaceutical Industries, Optimus Pharma, and Dr Reddy’s Laboratories are exploring the possibility of manufacturing the pill, reports suggest.
The process of manufacturing Paxlovid generic
Pfizer announced a deal with the United Nations-backed Medicines Patent Pool, a public health organisation, on November 16. As part of the deal, it signed a voluntary licence agreement for Paxlovid. The agreement will facilitate the production and distribution of the oral antiviral treatment candidate by granting sub-licences to qualified generic manufacturers.
Pfizer expects Paxlovid will reach 95 countries as part of the agreement, covering approximately 53% of the global population. This will include low- and lower-middle-income countries and a few upper-middle-income countries such as India.
The company will not receive any royalty on sales in low-income countries. Pfizer will further waive royalties on sales in countries covered by the agreement while Covid-19 remains a Public Health Emergency of International Concern, as classified by the World Health Organization.
Indian manufacturers will have to sign an agreement as part of this deal to manufacture a generic version of Paxlovid.
Clinical trials by Indian drug manufacturers
The Indian generic drug manufacturing companies will be asked to conduct late Phase III trials on Indian participants. The trials will likely be on the lines of the clinical trials Molnupiravir, Merck’s Covid-19 antiviral drug.
Cipla, Dr Reddy’s Laboratories, Sun Pharmaceutical Industries, Emcure Pharmaceuticals, and Torrent Pharmaceuticals announced that they were collaborating for Molnupiravir’s trial for the treatment of mild Covid-19 in outpatient settings.
from The Financial Express https://ift.tt/3EpjhlC
Thursday, 23 December 2021
Grieving Our Old Normal
By BY LINDSAY CROUSE, KIRBY FERGUSON AND EMILY HOLZKNECHT from NYT Opinion https://ift.tt/3pmlytJ
Binance Futures Referral Code: 77280703 (Avail Exclusive Signup Bonus)
from The Indian Express https://ift.tt/3H86tSA
Infosys, Rategain among 226 stocks to hit 52-week high on BSE, 7 scrips at fresh lows
Bulls maintained control on Dalal Street on Thursday with domestic benchmark indices trading in green. S&P BSE Sensex rallied nearly 300 points, reclaiming 57,200 while NSE Nifty 50 was up almost 100 points, regaining 17,050 mark. Infosys shares hit a fresh record high of Rs 1,860, up 2 per cent on the BSE in Thursday’s intra-day trade. The stock surpassed its previous all-time high of 1,848.25, hit on October 20, 2021. The stock was trading higher for the third straight trading session. In the past one month, Infosys has outperformed benchmark BSE Sensex. The stock has surged 7 per cent, compared to a 2.2 per cent fall in the S&P BSE Sensex.
52-week high and low on BSE
Apart from Infosys, Rategain shares also hit 52-week high on Thursday. The stock rallied to Rs 411.15 intraday. Tech Mahindra, Starlite Components Ltd, Share India Securities Ltd, Megasoft were among other scrips that hit 52-week high today. Meanwhile, Generic Engineering Construction and Projects Ltd., Infra Industries Ltd, Janus Corporation Ltd, Medplus Health Services Ltd, MPIL Corporation Ltd, Omnipotent Industries Ltd, Tarsons Products Ltd, and Multipurpose Trading and Agencies Ltd were stocks that hit 52-week low on BSE.
52-week high and low on NSE
JTL Infra, Nupur Recyclers Ltd., Udaipur Cement Work, Medplus Health Services Ltd. and PTL Enterprises stocks hit their fresh 52-week highs on NSE today. On the other hand, Destiny Logistics & Infra Ltd., Vikas Multicorp(PP)and Tarsons Products Ltd. and others were among the stocks that touched their 52-week lows on NSE in Thursday’s session. In the Nifty 50 index, Power Grid, Indian Oil Corp., ITC, NTPC and Bajaj Finance were among the top gainers while Divis Labs, Bharti Airtel, Asian Paints, Shree Cements and JSW Steel were among the top losers.
Stocks that surged 15% on BSE
Several stocks gained in excess of 15% on BSE today. Medplus Health Services Ltd. (up 38.34%), PTL Enterprises (up 20.09%), Accel Transmatic (up 19.99%), Shri Krishna (up 19.98%), Ceinsys Tech (up 19.98%), GPT Infraproj (up 16.06%) and Prime Property (up 15.65%) were among the stocks that surged over 15% in today’s trading session.
from The Financial Express https://ift.tt/3pjAzwm
Haridwar meet seeks weapons for Hindus, ‘war on Muslims’; ex-BJP spokesperson among speakers
from The Indian Express https://ift.tt/3qiBY5u
Fresh snowfall in higher reaches of Kashmir
The famous ski-resort of Gulmarg and many other parts in the higher reaches of Kashmir received fresh snowfall on Thursday, even as there was a significant improvement in the minimum temperature across the valley, officials said.Two to three inches of fresh snow accumulated at Gulmarg and its adjoining areas of Tangmarg and Babareshi, they said.
The officials said othe areas which received fresh snowfall include Gurez, Razdan Pass, Sadhna Pass, Furkain Gali, Z-Gali and Shopian, and Zojilla Pass. Some areas received rains, they said.This is the first snowfall of this season’s ‘Chilla-i-Kalan’, the 40-day harshest winter period which began on Tuesday.
Owing to the cloud cover, the minimum temperature improved across the valley on Wednesday night and settled above the freezing point at most places. Srinagar recorded a low of 2.6 degrees Celsius on Wednesday night, up from the previous night’s minus 1.8 degrees Celsius.
The officials said Pahalgam, which serves as the base camp for the annual Amarnath yatra, recorded a low of 0.3 degrees Celsius – up from minus 5.2 degrees Celsius the previous night.The minimum in Kupwara in north Kashmir settled at a low of 2.6 degrees Celsius.
Qazigund, the gateway town to the valley, recorded 0.8 degrees Celsius, while Kokernag recorded a low of minus 0.7 degrees Celsius.Gulmarg was the only place recorded place in the valley where the minimum stayed below the freezing point as it registered a low of minus 3.7 degrees Celsius. The MET Office said there is possibility of light rain or snow at isolated places in J-K over the next 24 hours.
“Another snow spell of greater intensity is most likely during December 26-27. Expect widespread light to moderate snow in plains of Kashmir, rain in Jammu and moderate snow at scattered places of Ladakh especially Kargil-Zanskar region,” it said.
The ‘Chilla-i-Kalan’, which began on Tuesday, is the 40-day harshest winter period when a cold wave grips the region and the temperature drops considerably leading to the freezing of water bodies including the famous Dal Lake here as well as the water supply lines in several parts of the valley.
The chances of snowfall are the most frequent and maximum during this period and most areas, especially in the higher reaches, receive heavy snowfall.The ‘Chilla-i-Kalan’ will end on January 31, but the cold wave continues even after that in Kashmir with a 20-day-long ‘Chillai-Khurd’ (small cold) and a 10-day-long ‘Chillai-Bachha’ (baby cold).
from The Financial Express https://ift.tt/3ehdeou
Wednesday, 22 December 2021
Menendez’s Son Prepares to Run for His Father’s Old House Seat
By BY TRACEY TULLY from NYT New York https://ift.tt/3sqmuPr
‘Has anyone seen Web3?’ Elon Musk, Jack Dorsey mock the idea of Web3
from The Indian Express https://ift.tt/32pvSbo
Chalo mobile app and smart card launched for convenient bus travel in Mumbai
Bus travelling gets convenient in Mumbai! From ticket purchasing through e-wallet to live bus tracking, passengers can now enjoy smooth and convenient bus travel with Chalo smart cards and Chalo mobile application. On Tuesday, Tourism and Environment Minister of Maharashtra, Aaditya Thackeray launched Chalo mobile application as well as Chalo smart cards. This mobile app and smart card will facilitate digital, and advance purchase of BEST bus tickets. According to an IE report, Chalo mobile app will allow passengers to buy bus tickets and passes through e-wallet. Besides, the mobile application will provide live bus tracking, and also information on how crowded the vehicle is, along with the arrival time of the bus.
Moreover, bus commuters can book tickets online and also, they will have access to bus passes for purchase and renewal through the Chalo mobile app and the Smart Card. According to the report, a contract of six years, worth Rs 85 crore has been given for the maintenance of the Chalo mobile application. Thackeray was quoted in the report saying that BEST (Bombay Electric Supply & Transport) has made bus commuting flexible by introducing tap to pay Chalo smart cards, and super saver plans. Other than providing flexible commute options for the financial capital, BEST is focused on digitization of services, affordable fares, Electric Vehicle Bus Fleet, goals of using 100 per cent alternate fuel buses by the year 2027, as well as a fleet size increase to 10,000 buses in the city, the minister stated.
The Tourism and Environment Minister further said they were looking to increase double-decker bus services in the city as well as induct hydrogen fuel buses into the fleet. The state government of Maharashtra is committed to financially supporting BEST for better bus stops and also for illumination of dark streets, the minister added.
from The Financial Express https://ift.tt/3FnwWLj
Spelling Bee Forum
By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Crosswords & Games https://ift.tt/3Jatvd7
India’s co-living market likely to double by 2024: Colliers
Driven by reopening of offices, record vaccination and reopening of colleges in a phased manner, the shared economy or popularly known as the co-living segment in the country is expected to see a recovery in 2022.
Though the pandemic marred the growth story of the co-living sector in 2020, it has already witnessed a sharp recovery in 2021. The co-living segment is expected to have 4,50,000 beds mainly driven by organized players by 2024 as opposed to 2,10,000 beds by the end of 2021, according to a Colliers report, titled ‘Future of Co-living in India.’
While there are various factors that contribute to the demand for co-living spaces, factors such as increasing workforce, migration to urban centers and dearth of good bachelor living options serve as major demand drivers for the organized modern co-living model.
Nearly 10 million youth join the workforce every year and this further results in an increased demand for affordable living options near the Central Business Districts (CBDs). Furthermore, with migration in India touching the 9 million mark during 2011-2016, the market has seen a consequent increase in requirement of residential stock in urban centers across the country.
“With the situation improving rapidly, the sector has recovered substantially and is looking more optimistic. The primary contributor to the recovery is the growing rate of vaccination. The unemployment rate is down to 7% in November 2021, a gradual dip from 11.84% in May 2021. Also, amidst the pandemic, hiring by IT companies has gathered pace followed by robust performance of the sector which will only add on to the demand for the Co-Living in coming quarters,” said Ramesh Nair, CEO, India, and Managing Director, Market Development, Asia, Colliers.
The concept of ‘Shared Economy’ got severely tested during the peak of the pandemic. Factors such as uncertain economic conditions resulting in loss of jobs, work from home and the shift of migrant population to their respective hometowns in the wake of the Covid-19 outbreak brought the evolving Co-Living sector to an immediate halt.
Between December 2020 and March 2021, the occupancy in most Co-living facilities crossed the 45 – 50% mark as the market improved and 60-70% in Q4 of 2021. However, the second wave proved to be a dampener from Q2 onwards as occupancy dipped sharply.
The Co-living segment is further expected to witness recovery in occupancy in 2022 with factors such as increasing workforce, migration to urban centers for jobs, the unorganized shared living sector and the growing student population increasingly looking for the organized modern co-living model.
“Co-Living has a strong long-term potential in the metro cities. However, the current market scenario has presented an opportunity to consolidate and reconfigure the market. While many players have exited the business as they could not sustain the financial stress of the previous year, others have capitalized on the opportunity to strengthen their position by strategic acquisitions and expansion in prime locations in metro cities,” said Subhankar Mitra, Managing Director, Advisory Services, Colliers India.
The shift in perception amongst millennials to ‘sharing’ instead of ‘owning’ has made the co-living concept popular. For all groups – corporate occupiers, start-ups, entrepreneurs, and millennials – renting offers flexibility and savings. Co-working offers cost savings of 20-25 per cent compared to traditional office space leasing.
Many investors already actively pursue options in the market to create flexible co-living facilities. The lucrativeness of a higher yield compared to a traditionally rented house has resulted in an influx of new players every year where this trend is expected to continue for the next few years. Co-living offers attractive returns; 2-4 times higher than the traditional residential yield of 2-3 per cent.
However, Co-living in India is still in its nascent stage and the operators are constantly updating their metrics. The Covid-19 pandemic has further pushed the operators back to the drawing boards to reinvent their strategy to provide an attractive and safe housing solution.
from The Financial Express https://ift.tt/32mJeFo